Date posted: 28/03/2024

UNSW has published the final report of a research project on Audit Market Structure and Competition

CA ANZ and CPA Australia collaborated on a research project and engaged UNSW to conduct an updated study with data from 2019 to 2022

In brief

  • When it comes to audit fees, the ASX market has a moderate level of concentration and it is becoming less concentrated over time.
  • The market share, as determined by the number of clients, has decreased for both the Big 4 and smaller non-Big auditors.
  • Large audit firms audit large ASX companies, and small – medium firms audit small and medium companies.

Professor Gary S. Monroe and Sarowar Hossain from the University of New South Wales, with financial support from CPA Australia and CA ANZ, released the final research report sharing its findings and insights on Audit Market Structure, Concentration, and Competition in Australia 2019-2022. 

The study extends and updates Carson’s 2019 study, Audit Market Structure and Competition in Australia:2012–2018, using more recent data from 2019-2022 of Australian Stock Exchange (ASX) listed companies. It should however be noted that this study uses different metrics and data to the Carson 2019 study and therefore the preliminary findings are not directly comparable to Carson 2019 study.

NOTE: CPA Australia (CA ANZ) has not verified the correctness of the information contained in these preliminary findings from the research team at UNSW.