Effect of Perceived Value on Customer Satisfaction on Audit Services of Financial Statements

This study was conducted to investigate the impact of perceived value on customer satisfaction on financial statement audit services performed by independent auditing companies in Hanoi city. Using a qualitative approach, the study explores the multi-dimensional nature of perceived value in audit services and its relationship to customer satisfaction. In-depth interviews and focus group discussions were conducted with business owners, chief financial officers, audit committee members, and chief accountants from various companies in Hanoi. The findings suggest that perceived value in audit services includes functional, emotional, social and monetary dimensions, each of which separately contributes to overall customer satisfaction. Functional value emerges as the most important factor, while emotional value plays a surprising role in shaping satisfaction. The impact of social and monetary value varies between different customer segments. The study also identifies several context-specific factors of Hanoi that influence the value-satisfaction relationship, including rapid economic growth, increasing international integration, and a changing regulatory environment. Based on the results of the study, some recommendations for audit firms are made to help them understand the key drivers of perceived value and their impact on customer satisfaction, so that firms can adapt their services and marketing strategies to better meet customer expectations. This, in turn, can lead to better customer retention, enhanced reputation, and increased market share.