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:
Download or read book IFRS Compliance and Audit Quality Among Big 3 Auditors written by Nur Hidayah Laili and published by . This book was released on 2014 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The highly prescriptive and technical provisions of Financial Reporting Standard (FRS) 136 - Impairment of Assets (FRS 136, 2009) represent a very substantial variation from past practice. This gives rise to questions about how Malaysian companies and their auditors have fared during the process of transition to a complex reporting regime. Hence, this study examines the degree of technical compliance with the disclosure requirements of FRS 136 (Amended by Annual Improvements to IFRSs 2009) by a sample of 20 large Malaysian shariah approved companies used as a proxy for audit quality. This research employed six analytical structures to distinguish audit quality among the Big 3 in an attempt to question the homogeneity of audit quality assumption. The evidence presented in this study suggests that there is no variation in audit quality among the Big 3 and contributes to the existing literature that audit quality among the largest audit firms is homogenous. The findings will be of interest to investors, analysts, regulators and in other jurisdictions undergoing transition to IFRS.
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 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.
Download or read book Internal Audit Quality written by Sally-Anne Pitt and published by John Wiley & Sons. This book was released on 2014-09-29 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deliver increased value by embedding quality into internal audit activities Internal Audit Quality: Developing a Quality Assurance and Improvement Program is a comprehensive and authoritative guide to better practice internal auditing. Written by a global expert in audit quality, this guide is the first to provide complete coverage of the elements that comprise an effective internal audit quality assurance and improvement program. Readers will find practical solutions for monitoring and measuring internal audit performance drawn from The IIA's International Standards for the Professional Practice of Internal Auditing, and complemented by advice and case studies from leading audit practitioners from five different continents. Major corporate and financial collapses over the past decade have challenged the value of internal audit. With an increased focus on internal audit's role in good governance, management is increasingly demanding that internal audit provides assurance of the quality of its own activities. The IIA standards provide a framework for audit quality in the form of mandatory guidance . Recent research indicates that the majority of internal audit functions do not fully comply with the standards and, as a result, are not servicing the needs of their organizations as well as they might. Internal Audit Quality offers a roadmap to internal audit quality, providing readers the guidance they need to: Embed quality into all elements of internal audit from strategic and operational planning down to day-to-day tasks Create well-defined internal audit programs and procedures Independently self-assess internal audit quality and performance Conform with the IIA standards and better practice Provide assurance over internal audit efficiency and effectiveness Deliver value by meeting stakeholder expectations As a key component of good governance, internal audit is on the rise. The days of retrospective, compliance-focused auditing is a thing of the past. Organizations expect more of internal audit, and many internal audit activities are accepting the challenge. Rather than relying on audit supervision and external assessments, modern auditors are embedding quality into audit activities to create effective programs. For the auditor looking to distinguish themselves as leading edge, Internal Audit Quality provides the guidance that enables the right work, at the right time, in the right way.
Download or read book Impairment of Audit Quality written by Halil Paino and published by LAP Lambert Academic Publishing. This book was released on 2010-07 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dysfunctional behaviour refers to the violation of control system rules and procedures (Jaworski and Young, 1992). Hartmann (2000) contends that dysfunctional behaviour is not just an 'irrational' human tendency, but rather reactions that can be 'rationally' expected in response to controls and processes. The extent to which such controls are perceived to impact on performance, evaluation and rewards, is also viewed as having an impact on managerial stress and tension, thus leading to potential dysfunctional behaviour.The quality of the opinion provided by audit firms is an important determinant of their long-term survival, but audit quality is difficult to gauge, which makes it particularly sensitive to the behaviour of the individuals who carry on audit work. This book seeks to identify the incidence of Dysfunctional Audit Behaviours and Audit Quality Reduction Behaviours, actions taken by an auditor during engagement that reduce evidence-gathering effectiveness.The study provides basic empirical evidence of a potentially serious risk of dysfunctional behaviours that may impair audit quality.
Download or read book Government Auditing Standards written by United States. General Accounting Office and published by . This book was released on 2001 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Impairment of Audit Quality written by Halil Paino and published by . This book was released on 2010 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Download or read book Handbook on Ethics in Finance written by Leire San-Jose and published by . This book was released on 2019 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effect of Joint Auditor Pair Composition on Audit Quality written by Gerald J. Lobo and published by . This book was released on 2019 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a sample of firms from France, where the law requires the use of two auditors, we study the effect of auditor pair composition on audit quality by examining a specific account, goodwill impairment. We document that firms audited by a Big 4-non-Big 4 auditor pair (BS) are more likely to book an impairment and book a larger impairment than firms audited by a Big 4-Big 4 auditor pair (BB) when low performance indicators suggest a greater likelihood of impairment. Moreover, firms audited by a BB pair reduce impairment disclosures when they book impairments, while firms audited by a BS pair do not, suggesting lower transparency for firms audited by a BB pair. Our results inform investors and firms in mandatory joint audit regimes, as well as regulators who are considering requiring joint audits.
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.
Download or read book Management Ownership Structure Audit Quality and Impairment of Assets written by Wai-yee Pauline Wong and published by . This book was released on 2008 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book KSCAA X Taxmann s NFRA Audit Quality Pivotal resource that bridges theoretical knowledge with practical insights fostering a deeper understanding of India s auditing standards written by CA. Mohan R Lavi and published by Taxmann Publications Private Limited. This book was released on 2024-03-02 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a comprehensive exploration of auditing standards in India, focusing on the influence of the National Financial Reporting Authority (NFRA) on these standards. It discusses the decisions of the NFRA, providing a deep understanding of the practical application of auditing standards in the Indian context. Aimed at practitioners, academicians, and students, the book offers guidance, fosters informed discussions, and encourages adherence to high-quality auditing standards. The Present Publication is the Latest 2024 Edition, authored by CA. Mohan R Lavi. It is published exclusively by Taxmann for KSCAA. The noteworthy features of the book are as follows: • [Introduction to NFRA] The book opens with a detailed introduction to the NFRA, explaining its inception, objectives, and the significant impact it has had on enhancing the quality and reliability of financial reporting in India • [Detailed Analysis] Through meticulous analysis, the book discusses the decisions made by the NFRA, offering insights into how these rulings influence and shape the auditing standards and practices in India • [Practical Applications] By summarizing NFRA's decisions, the book provides practical insights into the application of auditing standards, aiding auditors, corporations, and students in understanding the nuances of compliance and reporting • [Regulatory Framework] Readers are guided through the regulatory landscape governing auditing in India, gaining a comprehensive understanding of the legal and professional frameworks that dictate auditing practices • [Global Context] The book also touches upon international auditing standards, providing a comparative analysis that highlights the global relevance and alignment of India's auditing practices • [Future Outlook] A forward-looking discussion on the future of auditing and the evolving role of regulatory bodies in ensuring financial integrity and transparency is a key focus toward the end of the book • [Expert Perspectives] Contributions from the author, who is a seasoned professional, enrich the narrative, offering readers a well-rounded perspective on the auditing field The detailed contents of the book are as follows: • About NFRA – An introduction to NFRA's role, objectives, and impact on financial reporting standards in India • NFRA Rules – Detailed examination of the rules and regulations established by NFRA and their implications for auditing practices • Summary of NFRA Orders – In-depth analysis and summaries of significant NFRA decisions affecting the auditing landscape • Financial Quality Review Reports – Insights into the quality review process and reports generated by NFRA, emphasizing their importance in maintaining audit quality • Audit Quality – Exploration of the concept of audit quality, standards, and measures within the Indian context, guided by NFRA's framework • Non-compliance with Accounting Standards – Discussion on the implications of non-compliance with accounting standards as observed in NFRA's orders • Reporting Frauds – Guidelines and discussions on the role of auditors in detecting and reporting frauds, based on NFRA's expectations and rulings • The Future? Speculative exploration of future trends, challenges, and opportunities in auditing standards and practices
Download or read book Government auditing standards independence written by and published by DIANE Publishing. This book was released on with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Industry Specific and Task Specific Auditing Expertise written by Giulio Greco and published by . This book was released on 2018 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is growing interest among academics and auditing regulators on the role of auditing on the quality of accounting estimates including goodwill impairment. Prior research shows that managers exercise discretion when recording goodwill impairment by either delaying the decision to record the impairment, and/or understating the amount of impairment leading to overstatement of earnings. This study examines how auditor industry expertise, measured as within-industry market share, and task specific expertise, measured as the extent of auditor's prior experience with goodwill impairment, mitigates managerial discretion. We find no evidence of an association between industry expertise and goodwill impairment. We find that task specific expertise reduces managerial discretion related to the impairment. Specifically, prior experience with goodwill impairment is positively associated with both the likelihood of recording impairment loss as well as the amount of impairment. Our findings have implications for ongoing discussions about auditor characteristics affecting the quality of accounting estimates.
Download or read book Management Influence on Auditor Selection and Subsequent Impairments of Auditor Independence During the Post SOX Period written by Dan S. Dhaliwal and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the influence of management over auditor selection decisions during a period in which audit committees have “direct responsibility” for auditor selection. We find that contrary to the intent of SOX, management appears to retain significant influence over auditor selection in the subset of companies that select Big 4 auditors and this is not mitigated by higher quality audit committees. As SOX presumes that management influence over auditor selection leads to negative outcomes, we also examine the impact that management influence on auditor selection has on proxies for subsequent auditor independence during the post-SOX period. We find no consistent evidence that audit quality is different for companies whose managers appeared to influence auditor selection, where audit quality is measured by the propensity to issue going concern opinions, the propensity to meet or just beat analyst earnings forecasts and abnormal accruals. We also find no consistent evidence that the quality of the audit committee influences the relationship between audit quality and management influence on auditor selection.
