Prohibition of non-audit services and its impact on the competition between local auditing firms and Big-4-affiliated audit firms in Bangladesh

Abstract

The study was conducted at the Department of Audit & Assurance to investigate the impact of the prohibition of certain non-audit services on the competition between local auditing firms and Big-4-affiliated auditing firms in Bangladesh. The approach selected for this research is a qualitative one and has a descriptive and explanatory nature. From this research, it becomes evident that the Big 4 audit firms do not believe that top listed companies and or global companies in Bangladesh will appoint local big consultancy firms or smaller specialized auditing firms to conduct their non-audit services. However, they believe that it is possible for the big consultancy firms or smaller specialized auditing firms to enter audit market in Bangladesh. The findings of this study present an apparent picture of the field of auditing in Bangladesh and also could be used as financial reporting regulatory authorities. It will also guide the researchers for future investigations.