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Auditor Independence And Audit Quality
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Book Synopsis Auditor Independence by : Ismail Adelopo
Download or read book Auditor Independence written by Ismail Adelopo and published by Routledge. This book was released on 2016-04-08 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Auditor Independence, Ismail Adelopo argues that the importance of auditors' independence cannot be over-emphasised. Not only do auditors provide certification of the truth and fairness of the information prepared by managers, they also have a duty to express opinions on the degree of compliance with laws and regulations guiding a firm's operations. Theirs is a socially important responsibility. In all that has been proposed to mitigate the governance crisis and restore confidence in the market system, relatively little attention has been paid to auditor independence. Examining the historical role of auditing in corporate governance and the regulatory context, this book sets the function within a theoretical framework and then provides empirical analysis of the problem issues such as the relationship between audit committees and external auditors and the probity of providing non-auditing services to audit clients. The focus on matters that are damaging to market confidence and threatening to the reputation of the auditing profession, means the conclusions and recommendations in this book are important for key stakeholders, including policy makers, regulators, those running companies, and their investors and customers. This is also a book for those responsible for training in the auditing profession and for others with a research or academic interest in the matters addressed.
Book Synopsis Auditor Independence and Audit Quality by : Nopmanee Tepalagul
Download or read book Auditor Independence and Audit Quality written by Nopmanee Tepalagul and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This article presents a comprehensive review of academic research pertaining to auditor independence and audit quality. This literature review is conducted based on published articles during the period 1976-2013 in nine leading journals related to auditing. We organize our review around four main threats to auditor independence, namely, (a) client importance, (b) non-audit services, (c) auditor tenure, and (d) client affiliation with audit firms. For each of the threats, we discuss findings related to the incentives, perceptions, and behaviors of the auditor and the client, as well as the effects of each threat on the actual and perceived quality of audits and financial reports. We conclude that the mixed evidence, together with recent regulatory changes, provides opportunities for future research on auditor independence and audit quality.
Download or read book Audit Quality written by Jonas Tritschler and published by Springer Science & Business Media. This book was released on 2013-10-31 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arising from the author’s experience as a practicing CPA, this book is quite different from other research in this field, as it confronts the subject of audit quality from a pragmatic perspective. The first goal of Jonas Tritschler is to develop an audit quality metric on national audit firm level. Financial reporting errors, as detected by the German enforcement institutions during examinations, which subsequently are published in the German Federal Gazette by the involved companies, are the data basis for this measurement. Using the developed audit quality metric, the second goal of this study is to analyze audit quality differences of selected audit firms by comparing their deployed audit input factors such as employee’s competence (ratio of certified professionals to total audit staff), experience of employees (average tenure of employees in years) and client-specific experience (client fluctuation rate). Results indicate a correlation between audit quality according to the developed metric and the operationalized audit input factors mentioned above.
Book Synopsis United States and European Union Auditor Independence Regulation by : Christiane Strohm
Download or read book United States and European Union Auditor Independence Regulation written by Christiane Strohm and published by Springer Science & Business Media. This book was released on 2007-12-11 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Christiane Strohm investigates the effects of the Sarbanes-Oxley-Act and the revised 8th EU-Directive on auditing. She shows that there is a difference in the communication and safeguarding effects of a regulation, depending on the precision of its wording and that safeguarding effects also depend on auditors' monetary incentives and on perceived costs of litigation.
Book Synopsis Is Financial Reporting and Audit Quality Lower when Auditors Lack Independence by : Ranier Michael Robinson
Download or read book Is Financial Reporting and Audit Quality Lower when Auditors Lack Independence written by Ranier Michael Robinson and published by . This book was released on 2020 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) are concerned about circumstances that threaten auditor independence based on their belief that auditor independence is essential to the efficiency of capital markets. The relationship between auditor independence and financial reporting and audit quality, have been difficult to establish because the extent of auditor independence is unobservable. Prior research has relied on proxies for auditor independence, and overall the results provided by this research are mixed. In this study, I utilize a sample of firms that switch auditors retrospectively to avoid further violation of SEC independence rules-as a more direct measure of auditor independence. Using propensity score matching and a difference-in-differences research design, I find evidence that independence violations are associated with impaired financial reporting and audit quality. Further, I find improvements in both financial reporting and audit quality subsequent to an auditor switch for independence violation firms relative to non-independence issue control firms. Overall, these results provide justification for regulators' concerns about the potential negative consequences of a lack of auditor independence on financial reporting quality and audit quality.
Book Synopsis The Economics of Audit Quality by : Benito Arrunada
Download or read book The Economics of Audit Quality written by Benito Arrunada and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on market mechanisms which protect quality in the provision of audit services. The role of public regulation is thus situated in the context defmed by the presence of these safeguard mechanisms. The book aims to contribute to a better understanding of these market mechanisms, which helps in defining the con tent of rules and the function of regulatory bodies in facilitating and strengthening the protective operation of the market. An analysis at a more general level is provided in the three chapters making up Part 1. In the four chapters of Part 2, on the other hand, this analysis is applied to a particular problem to determine how those non-audit services often provided by auditors to their audit clients should be regulated. Finally, Chapter 8 contains a summary of the analysis and conclusions of the work. The conclusion with regard to non-audit services is that their provision generates beneficial effects in terms of costs, technical competence, professional judgment and competition and, moreover, need not prejudice auditor independence or the quality of these services. This as sessment leads, in the normative sphere, to recommending a legislative policy aimed at facilitating the development and use of safeguards provided by the free action of market forces. Regulation should thus aim to enable the parties-audit firms, self-regulatory bodies and audit clients-to discover through competitive market interaction both the most efficient mix of services and the corresponding quality safeguards, adjusting for the costs and benefits of each possibility.
Book Synopsis The Intersection of Auditor Independence, Objectivity, and Integrity in High-risk Audit Conditions by : George Kwadwo Baah
Download or read book The Intersection of Auditor Independence, Objectivity, and Integrity in High-risk Audit Conditions written by George Kwadwo Baah and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rich store of audit quality research and steady improvements to auditing standards over the decades have not yielded the desired impact on audit quality. While most litigations following corporate failure naming auditors as defendants tend to accuse auditors of lack of independence, objectivity and willful participation in fraud, the impact of these character dimensions on audit quality has not been fully explored. Professional accounting bodies impress upon their members to be independent in fact and in appearance, be objective and exhibit integrity in their decisions about their clients' financials statement, yet, not much is known about how independence, objectivity, and integrity impact audit quality. Secondly, not much is known about how auditors enact independence, objectivity, and integrity on an audit engagement. Also, inputs from auditors have been quite underutilized in audit quality research in recent years, yet auditors are the people who implement changes in auditing standards and regulations. This dissertation focuses on the very character dimensions that auditors tend to be accused of lacking to examine the impact of independence, objectivity, integrity, and environmental constraints on audit quality. Guided by institutional theory and the theory of negotiated order, a multi-staged, three-part sequential mixed methods study consisting of one quantitative and two qualitative studies were conducted using responses from audit managers. Survey responses from auditors in the United Kingdom and the United States were used to perform an exploratory theoretical study of the impact of Independence, Objectivity, Integrity, and Constraints on Audit Quality. The second study was conducted to identify a highly constrained business environment where the impact of Independence, Objectivity, and Integrity on Audit Quality could be validated. Following the second study, a third study was conducted to understand the effects of the institutional environment on audit quality and how auditors respond to the effects of the institutional factors. The research finds that auditors' integrity is a consistent determinant of audit quality. The positive significant impact of integrity on audit quality does not change when integrity interacts with environmental constraints. Contrary to the general notions about the importance of independence to audit quality, the research finds that independence and objectivity do not have a significant direct effect on audit quality. However, moderating independence on objectivity leads to a significant effect on audit quality. Independence strengthens the positive effect of objectivity on audit quality. But the positive impact of interacting independence and objectivity on audit quality reduces substantially when the interaction variable interacts with environmental constraints. Auditors tend not rely on their independence when the impact of environmental constraints are weak, and they tend to ignore or bend their interpretation and enactment of independence and objectivity and rather rely on their integrity when the environmental constraints are high. These findings show that agents resort to their inner core beliefs when making decisions under high-risk conditions. This dissertation makes theoretical and practical contributions to the literature. The quantitative research for the dissertation is the first known empirical analyses or validation of impact of external constraints, independence, objectivity, and integrity on audit quality using data from auditors. The research challenges the continued emphasis on independence as the core determinant of audit quality instead of the integrity of auditors. Also, study two of the dissertation is the first known study to find that aid project failure was mainly due to managerial failure though literature has blamed poor institutions, weak economies, and corruption as the culprits. Though prior audit quality studies have used responses from auditors, most recent researches in that domain have used data from sources other than auditors, yet auditors are the people who actually perform the work. The finding that auditors' perceptions about the core determinant of audit quality is integrity and not independence suggests that perhaps custodians of the profession have not focused on the fundamental character determinant of audit quality. This finding makes a contribution to theory and practice.
Book Synopsis The Effect of Audit Quality on the Relationship Between Audit Committee Effectiveness and Financial Reporting Quality by : Johanna Miettinen
Download or read book The Effect of Audit Quality on the Relationship Between Audit Committee Effectiveness and Financial Reporting Quality written by Johanna Miettinen and published by University of Vaasa. This book was released on 2008 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä: Tilintarkastuksen laadun vaikutus tarkastusvaliokunnan tehokkuuden ja taloudellisen tiedon laadun väliseen suhteeseen.
Book Synopsis Public Accounting Firms by : Jeanette M. Franzel
Download or read book Public Accounting Firms written by Jeanette M. Franzel and published by DIANE Publishing. This book was released on 2004-03 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following major failures in corp. financial reporting, the Sarbanes-Oxley Act of 2002 was enacted to protect investors through requirements intended to improve the accuracy and reliability of corp. disclosures and to restore investor confidence. The act strengthened auditor independence and improved audit quality. Mandatory audit firm rotation (setting a limit on the period of years a public accounting (PA) firm may audit a particular company's financial statements) was considered as a reform to enhance auditor independence and audit quality during the hearings that preceded the act, but it was not included in the act. This report studies the potential effects of requiring rotation of the PA firms that audit public companies registered with the SEC.
Book Synopsis Auditor Independence and Audit Quality by : Sarowar Hossain
Download or read book Auditor Independence and Audit Quality written by Sarowar Hossain and published by . This book was released on 2009 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Empirical Studies on Auditor Independence and Audit Quality by : Nicolas Pappert
Download or read book Empirical Studies on Auditor Independence and Audit Quality written by Nicolas Pappert and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Auditor Going Concern Reporting by : Marshall A. Geiger
Download or read book Auditor Going Concern Reporting written by Marshall A. Geiger and published by Routledge. This book was released on 2021-06-09 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Auditor reporting on going-concern-related uncertainties remains one of the most challenging issues faced by external auditors. Business owners, market participants and audit regulators want an early warning of impending business failure. However, companies typically do not welcome audit opinions indicating uncertainty regarding their future viability. Thus, the auditor’s decision to issue a "going concern opinion" (GCO) is a complex and multi-layered one, facing a great deal of tension. Given such a rich context, academic researchers have examined many facets related to an auditor’s decision to issue a GCO. This monograph reviews and synthesizes 182 recent GCO studies that have appeared since the last significant review published in 2013 through the end of 2019. The authors categorize studies into the three broad areas of GCO: (1) determinants, (2) accuracy and (3) consequences. As an integral part of their synthesis, they summarize the details of each study in several user-friendly tables. After discussing and synthesizing the research, they present a discussion of opportunities for future research, including issues created or exacerbated as a result of the global COVID-19 pandemic. This monograph will be of assistance to researchers interested in exploring this area of auditor responsibility. It will also be of interest to auditing firms and individual practitioners wanting to learn what academic research has examined and found regarding this challenging aspect of audit practice. Auditing standard-setters and regulators will find it of interest as the authors review numerous studies examining issues related to audit policy and regulation, and their effects on GCO decisions. The examination of GCO research is extremely timely given the financial and business disruption caused by the worldwide COVID-19 pandemic. This unprecedented global event has caused companies, auditors and professional bodies to revisit and reassess their approach to going concern, and to think even more deeply about this fundamental business imperative.
Author :United States Government Accountability Office Publisher :Lulu.com ISBN 13 :0359536395 Total Pages :234 pages Book Rating :4.3/5 (595 download)
Book Synopsis Government Auditing Standards - 2018 Revision by : United States Government Accountability Office
Download or read book Government Auditing Standards - 2018 Revision written by United States Government Accountability Office and published by Lulu.com. This book was released on 2019-03-24 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Audits provide essential accountability and transparency over government programs. Given the current challenges facing governments and their programs, the oversight provided through auditing is more critical than ever. Government auditing provides the objective analysis and information needed to make the decisions necessary to help create a better future. The professional standards presented in this 2018 revision of Government Auditing Standards (known as the Yellow Book) provide a framework for performing high-quality audit work with competence, integrity, objectivity, and independence to provide accountability and to help improve government operations and services. These standards, commonly referred to as generally accepted government auditing standards (GAGAS), provide the foundation for government auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. This revision contains major changes from, and supersedes, the 2011 revision.
Download or read book CPA Audit Quality written by and published by . This book was released on 1989 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Impairment of Auditor Independence by : Lynn M. McDown
Download or read book Impairment of Auditor Independence written by Lynn M. McDown and published by . This book was released on 1991 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effect of Non-audit Services on Investor Judgments about Auditor Independence, Auditor Knowledge, Audit Quality and Investment by : Linda Jeanne Flaming
Download or read book The Effect of Non-audit Services on Investor Judgments about Auditor Independence, Auditor Knowledge, Audit Quality and Investment written by Linda Jeanne Flaming and published by . This book was released on 2002 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Disruption in the Audit Market by : Krish Bhaskar
Download or read book Disruption in the Audit Market written by Krish Bhaskar and published by Routledge. This book was released on 2019-04-16 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focussing on the dominance of the Big Four auditing firms – PwC, EY, Deloitte and KPMG – this concise volume provides an authoritative critical assessment of the state and future of the audit market, currently the subject of much debate and the focus of significant government enquiries. Drawing on extensive research and a vast collection of evidence from interviews with insiders, experts and users, it explores the key issues of audit quality, independence, choice and the growing expectation gap. Just as disruptive technologies are overturning other established sectors, this book explores their impact on accounting, financial reporting and auditing. It questions whether the Big Four-dominated audit market is prepared not only for the inevitable disruption of new technologies, but also the challenges of negative public perceptions, cynicism about regulation and demands for greater transparency. In the context of increasing high-profile corporate failures, this book provides a compelling scrutiny of the industry’s failings and present difficulties, and the impact of future disruption. At this crucial time, it will be of great interest to students, researchers and professionals in accounting and auditing, as well as policy makers and regulators.
