Expanding the Extent of Professional Services and its Impacts on Audit Firms Operating in the Kingdome of Saudi Arabia

2003 ◽  
Vol 17 (2) ◽  
pp. 115-151
Author(s):  
HUSSAM AL-ANGARI
Keyword(s):  
Saudi Arabia ◽  
Professional Services ◽  
Audit Firms

scholarly journals AUDIT SERVICE MARKET ANALYSIS IN UKRAINE

2019 ◽  
pp. 63-69
Author(s):  
T. Zhukova ◽  
I. Hanus ◽  
I. Plikus
Keyword(s):  
Market Competition ◽  
Professional Services ◽  
Industrial Enterprises ◽  
Audit Market ◽  
Significant Fluctuation ◽  
Audit Firms ◽  
The Cost ◽  
Audit Activity ◽  
Audit Services Market

The analysis of the audit services market clearly demonstrates a significant fluctuation in the quantity and cost of services in different regions, which in most cases depends on the concentration of industrial enterprises, the solvency of the audit customers themselves and their understanding of the cost and quality of audit services. This article is dedicated to this, in which such fundamental issues of the activities of audit firms and auditors as entering the professional services market, the quality of such services, and pricing for audit services are examined. The analysis of the audit services market clearly demonstrates a significant fluctuation in the quantity and cost of services in different regions, which in most cases depends on the concentration of industrial enterprises, the solvency of the audit customers themselves and their understanding the cost and quality of audit services. The article considers such problems of the auditors and audit firms activities as entering the professional services market, the quality of such services, and pricing of audit services. The analysis of the market of audit services is presented, which demonstrates a significant fluctuation in the quantity and cost of services in different regions, which in most cases depends on the solvency of audit customers, the concentration of industrial enterprises and the quality of audit services provided. The analysis of the audit activities results and the state of the market for audit services indicates that the audit market suffers from changes occurring in the country, which indicate that the audit market is functioning and transforming as a result of a number of factors, in particular: crisis phenomena in society; stricter requirements for the audit profession by regulators; imperfection of the legislative framework; lack of a mechanism for pricing audit services; lack of punishment for false information in the reports of auditors; insufficient number of highly qualified auditors; decrease in solvency of audit customersю It was found that, along with a decrease in the number of subjects of audit activity in the Register of Audit Firms, there is a tendency to increase the volume of services provided. It is proved that in order to increase the value of the audit, introduce and operate a system for ensuring the quality of audit services, improve the professional knowledge of practicing accountants, increase the market for audit services and ensure the important role of the audit profession recognized in our society, constant monitoring and development of decisions on issues related to the functioning of the audit system in Ukraine are necessary. Keywords: audit, market, competition, audit quality, cost of audit services, subjects of audit activity

A contingency model of client repatronage in a financial auditing services context

2016 ◽  
Vol 29 (1) ◽  
pp. 106-130 ◽  
Author(s):  
Naruanard Sarapaivanich ◽  
Paul G. Patterson
Keyword(s):  
Switching Costs ◽  
Professional Services ◽  
Cross Sectional Survey ◽  
Cross Sectional ◽  
Content Type ◽  
Trust Value ◽  
Client Retention ◽  
Audit Firms ◽  
Alternative Attractiveness ◽  
The Impact

Purpose This study aims to examine the extent to which switching costs moderates the impact of trust, value and attractiveness of alternatives on client repatronage intentions. Design/methodology/approach The study combines qualitative and quantitative methodologies to create a cross-sectional survey covering four geographic regions in Thailand. Adopting a contingency perspective, the authors examine the moderating impact of two switching costs (economic and security) on the association among trust, value, attractiveness of alternatives and repatronage intentions. Findings A study of 519 small- and medium-sized enterprise (SME) clients of audit firms confirms the main effects of trust, value and alternative attractiveness on client retention; some but not all linkages are moderated by the costs of switching. Researchlimitations/implications This article focuses on one specific segment (SMEs) and one category of professional services. It would be worthwhile to extend the findings to larger firms and other professional services. Originality/value The study contributes to the understanding of relationship continuance among professional services clients by shifting the focus to when and in which contingency conditions trust, value and attractiveness of alternatives have greater or lesser impacts on repatronage intentions.

scholarly journals Factors Influencing IPOs Pricing and Performance in Saudi Arabia: A Halal and Haram Perspective

2018 ◽  
Vol 7 (4) ◽  
pp. 78
Author(s):  
Ali Alnodel ◽  
Muhammad Junaid Khawaja
Keyword(s):  
Saudi Arabia ◽  
Stock Market ◽  
Abnormal Returns ◽  
Stock Market Index ◽  
Ipo Underpricing ◽  
Factors Affecting ◽  
Market Index ◽  
Audit Firms ◽  
Overwhelming Evidence ◽  
And Performance

The objective of the study is to determine the factors affecting underpricing behaviour of  IPOs in Saudi stock market. A special interest is to study the effect of Shariah compliance of Saudi investors on the extent IPO underpricing. The paper uses multiple regression analysis on the IPOs data for Saudi Stock market from 2004 to 2017 with a total of 105 observations.The results show overwhelming evidence of underpricing of IPOs during the first day trading. The most important result of this piece of research is that investors positively respond to the IPOs with Shariah compliance and return is negatively affected by Shariah board. The results also show that the abnormal returns are driven by the demand side factors like oversubscription. Other findings of the study show that premium to face value, type of audit firms and underwriters, and Saudi stock market index are significant determinants of the underpricing of IPOs.The most important implication of this paper is that the existence of abnormal first day return in Saudi stock market shows the existence of market imperfections. By motivating the investors to invest in Shariah compliant IPOs, decreasing the element of uncertainty and ensuring information symmetry these abnormal returns can be normalized. The results show that Saudi society is partial towards Shariah compliant investment opportunities and the investors’ desire to avoid investments involving Haram activities can be used to reduce market imperfections.This paper identifies the important determinants of IPOs underpricing in Saudi stock market and sheds light on the effect of Shariah compliant firms on IPO underpricing. Keywords – IPOs, Underpricing, Shariah Compliance, Auditor, Stock Market, Saudi Arabia

Sign in / Sign up

Export Citation Format

Share Document