Translation Task for one my friend in accounting.
This is the first time I pick up the translation task in accounting profession.
Translation from Chinese to English
The development of our country’s audit market has only undergone a short time, hence still being at the primary stage.
The article has carried through an empirical research to the concentration of China’s audit market, and concluded that it is on the low side. The problems include, a lack of dominant large firms and large firms among the local ones, too many small firms, the regional problem and etc.
It has also analysed the factors influencing audit quality, which include firm scale, brand reputation, charges, independency, market concentration and etc. The correlation between audit market concentration and audit quality is positive.
Therefore, in order to improve the audit quality, we should improve the concentration and the access qualification of audit market, build and perfect market reputation mechanism, define the charging standard of audit and severely punish those who violate the law and discipline.