AUDIT MARKET CONCENTRATION AND FINANCIAL TRANSPARENCY IN HIGHER EDUCATION: A COMPARATIVE ANALYSIS BETWEEN STATE AND PRIVATE UNIVERSITIES IN CHILE, 2013-2022

Abstract

This article analyzes audit market concentration and its link to financial transparency in Chilean higher education. Using 440 external audit reports from 45 universities—27 private and 18 state-owned—across the 2013-2022 period, qualitative coding techniques (NVivo) and descriptive statistical analysis (SPSS) were applied, with the Herfindahl-Hirschman Index (HHI) to measure concentration. The results reveal a segmented market: private universities tend to contract Big 4 firms, while state universities prefer non-Big 4 auditors. In both groups, firm rotation was low, and unmodified opinions predominate, although state institutions present a higher proportion of qualified opinions.