TY - JOUR AU - SEMENOVA, Світлана AU - SHPYRKO, Ольга AU - ZIABCHENKOVA, Ганна PY - 2023/02/23 Y2 - 2024/03/28 TI - The market of audit services of the Federal Republic of Germany JF - Foreign·trade:·economics,·finance,·law JA - FT VL - 126 IS - 1 SE - FINANCE, ACCOUNTING, AUDIT DO - 10.31617/3.2023(126)09 UR - https://journals.knute.edu.ua/foreign-trade/article/view/1764 SP - 108-126 AB - <p><strong><em>Introduction. </em></strong><em>Germany has one of the most developed economies in the world, the stability of which is ensured, in particular, by the reliability of</em><em>&nbsp;</em><em>the audit services market. Devotion to traditions and ethical principles, authority and high profe­ssionalism in the field of auditing, activities of professional organizations, peculiarities of regulatory and legal regulation in Germany attract the attention of many researchers.</em><em>&nbsp;</em></p><p><strong><em>Problem. </em></strong><em>Knowledge of the German audit market</em><em>, the main factors</em><em>,</em><em> and limitations, changes in legislation</em><em>, requirements of regulators, professional organizations regarding the provision of audit services are of great importance for the adaptation of best practices, borrowing of successful experience on the way of Ukraine’s integration into the European space and use in the post-war reconstruction of the country.</em></p><p><strong><em>The aim</em></strong><em> of the article is to study the conditions and peculiarities of the functioning of the audit services market in Germany for the imple­mentation of the best European experience in Ukraine.</em></p><p><strong><em>Methods. </em></strong><em>The methods of analysis, synthesis, deduction, grouping, abstraction, comparison, genera­li­zation, systematization</em><em>,</em><em> and specification are applied</em><em>.</em><em>&nbsp;</em></p><p><strong><em>Research results. </em></strong><em>Among European countries</em><em>, Germany has a significant potential of 16.9 thousand qualified auditors. The audit services market is highly concentrated –</em> <em>91.1% is occupied by the audit firms of the Big Four: KPMG, PwC, EY</em><em>,</em><em> and Deloitte. The adoption of the Law on Strengthening the Integrity of Financial Markets had an impact on the growth of the cost of audit services and market concentration due to a significant increase in audit responsibilities, the introduction of stricter rotation rules</em><em>,</em><em> and the prevention of conflicts of interest. The Chamber of Accountants (auditors) and the</em><em>&nbsp;</em><em>Institute of Auditors, which are part of the European Accounting Office, have a significant impact on the development of the auditor profession in</em><em>&nbsp;</em><em>Germany.</em><em>&nbsp;</em></p><p><strong><em>Conclusions.</em></strong><em> The modern market of auditing services in Germany demonstrates the demand for related services of accounting support, management and tax consulting, finance and personnel management, corporate reporting, social and environmental responsibility, data protection, cyber security, and economic investigations. Germany's experience in the regulatory and legal regulation of audit activities, the organization of public and professional supervision of audit quality, the influence, and authority of professional organizations, attention to the development of the brand and reputational capital of auditors – all this has practical value for Ukraine and should be taken into account in further reforms for entry to the European space.</em></p> ER -