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The enigma of the Greek auditing profession: some preliminary results concerning the impact of liberalization on auditor behaviour


  • Constantinos V. Caramanis


The paper reports the results of a survey of the perceptions of individual auditors and corporate financial executives in Greece, regarding changes in emphases which auditors gave to various audit functions following the liberalization of the Greek auditing profession in 1992. The term 'liberalization' is used here to denote the introduction of competition in the market for statutory audits and the concomitant economic dependence of auditors on audited companies. The liberalization was effected through legislation and was the result of a long and intense intra-professional conflict between a group of indigenous auditors who until then enjoyed legal monopoly of practice and local branches of international accounting firms who wanted to enter the market for statutory audit services. The survey results suggest that following the liberalization, significantly more emphasis was placed by auditors on the provision of Management Advisory Services to audited companies. In relation to functions which are typically performed by auditors in order to form a professional opinion on corporate financial statements the survey revealed a large divergence in the perceptions of respondent groups.

Suggested Citation

  • Constantinos V. Caramanis, 1997. "The enigma of the Greek auditing profession: some preliminary results concerning the impact of liberalization on auditor behaviour," European Accounting Review, Taylor & Francis Journals, vol. 6(1), pages 85-108, May.
  • Handle: RePEc:taf:euract:v:6:y:1997:i:1:p:85-108
    DOI: 10.1080/096381897336881

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    References listed on IDEAS

    1. John Margerison & Peter Moizer, 1996. "Auditor licensing in the European Union: a comparative study based on cultural differences," European Accounting Review, Taylor & Francis Journals, vol. 5(1), pages 29-56.
    2. Apostolos Ballas, 1994. "Accounting in Greece," European Accounting Review, Taylor & Francis Journals, vol. 3(1), pages 107-121.
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    1. repec:eee:accfor:v:37:y:2013:i:1:p:40-53 is not listed on IDEAS
    2. Maria Antonia Garcia Benau & Emiliano Ruiz Barbadillo & Christopher Humphrey & Walid Al Husaini, 1999. "Success in failure? Reflections on the changing Spanish audit environment," European Accounting Review, Taylor & Francis Journals, vol. 8(4), pages 701-730.
    3. repec:eee:accfor:v:34:y:2010:i:2:p:139-152 is not listed on IDEAS
    4. repec:eee:crpeac:v:20:y:2009:i:1:p:71-92 is not listed on IDEAS
    5. David Citron & Gikas Manalis, 2001. "The international firms as new entrants to the statutory audit market: an empirical analysis of auditor selection in Greece, 1993 to 1997," European Accounting Review, Taylor & Francis Journals, vol. 10(3), pages 439-459.
    6. Apostolos Ballas, 1999. "Privatizing the statutory auditing services in Greece," Accounting History Review, Taylor & Francis Journals, vol. 9(3), pages 349-373.
    7. Caramanis, Constantinos V., 2002. "The interplay between professional groups, the state and supranational agents: Pax Americana in the age of 'globalisation'," Accounting, Organizations and Society, Elsevier, vol. 27(4-5), pages 379-408.
    8. De Beelde, Ignace, 2002. "Creating a profession 'out of nothing'? The case of the Belgian auditing profession," Accounting, Organizations and Society, Elsevier, vol. 27(4-5), pages 447-470.

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