The Romanian audit market structure in case of listed companies and the impact of adopting IFRS

This study examines the case of Romanian IFRS adopters when it comes about their auditors. After a brief literature review in which we point out some of the previous articles published by both Romanian and international researchers on the topic of IFRS and audit market concentration, we analyze the case of Romanian listed companies, before and after they switch to IFRS. In order to take a picture of the market share we identified the listed companies and their auditors and also we have analyze the audit report issued in order to see if a change in the auditor's opinion is a incentive for the reporting entity to change the auditors. Our hypothesis is that for the most of the companies - companies not requiring highly specialized qualification from the auditors, such as, for example, financial institutions - the adoption of IFRS implied a change in the auditors. In the last part we will compare Romanian audit market with other audit markets such as with the British, Chinese and American market and we try to explain our findings. (C) 2015 The Authors. Published by Elsevier B.V.