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A theoretical approach to auditor independence and audit quality

Rahman Yakubu, Tracey Williams

Corporate Ownership and Control, Volume: 17, Issue: 2, Pages: 124 - 141

Swansea University Author: Tracey Williams

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DOI (Published version): 10.22495/cocv17i2art11

Abstract

Auditor independence and the quality of audit report is of growing concern to regulators, institutional investors and stakeholders as a series of accounting scandals have undermined the professionalism of auditors. The findings from this study produced an insight of how auditor’s independence improv...

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Published in: Corporate Ownership and Control
ISSN: 1727-9232 1810-3057
Published: Virtus Interpress 2020
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URI: https://cronfa.swan.ac.uk/Record/cronfa58928
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last_indexed 2021-12-31T04:28:57Z
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spelling 2021-12-30T17:05:05.7398818 v2 58928 2021-12-06 A theoretical approach to auditor independence and audit quality 8bdb4c0aab31a4b10ec9d03bbd9b8347 Tracey Williams Tracey Williams true false 2021-12-06 BAF Auditor independence and the quality of audit report is of growing concern to regulators, institutional investors and stakeholders as a series of accounting scandals have undermined the professionalism of auditors. The findings from this study produced an insight of how auditor’s independence improve audit quality and that abnormal audit fees is as a result of additional effort for auditor to carry out rigorous audit engagement as a result of wider audit scope; that mandatory audit firm rotation will enhance auditor independence, and that audit committee with nonexecutive independence will promote audit quality. The study also finds that in terms of auditor size, smaller audit firms that belong to professional bodies will provide higher audit quality. The main conclusion of this research is that where an auditor is fully independent in carrying out audit engagement with strong resistance to fees pressure will enhance audit quality. This research provides insight into the impact of IFRS adoption on audit fees. Journal Article Corporate Ownership and Control 17 2 124 141 Virtus Interpress 1727-9232 1810-3057 Audit Fees, Auditor Tenure, Board Composition, Auditor Size, Non-Audit Services, Audit Quality, IFRS 4 2 2020 2020-02-04 10.22495/cocv17i2art11 COLLEGE NANME Accounting and Finance COLLEGE CODE BAF Swansea University 2021-12-30T17:05:05.7398818 2021-12-06T16:20:33.8400762 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Rahman Yakubu 1 Tracey Williams 2 58928__21819__97cd9df0c57543f7b33d16779059609f.pdf VoR.pdf 2021-12-06T16:21:29.0454302 Output 784908 application/pdf Version of Record true © 2020 The Authors. This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0) true eng https://creativecommons.org/licenses/by/4.0
title A theoretical approach to auditor independence and audit quality
spellingShingle A theoretical approach to auditor independence and audit quality
Tracey Williams
title_short A theoretical approach to auditor independence and audit quality
title_full A theoretical approach to auditor independence and audit quality
title_fullStr A theoretical approach to auditor independence and audit quality
title_full_unstemmed A theoretical approach to auditor independence and audit quality
title_sort A theoretical approach to auditor independence and audit quality
author_id_str_mv 8bdb4c0aab31a4b10ec9d03bbd9b8347
author_id_fullname_str_mv 8bdb4c0aab31a4b10ec9d03bbd9b8347_***_Tracey Williams
author Tracey Williams
author2 Rahman Yakubu
Tracey Williams
format Journal article
container_title Corporate Ownership and Control
container_volume 17
container_issue 2
container_start_page 124
publishDate 2020
institution Swansea University
issn 1727-9232
1810-3057
doi_str_mv 10.22495/cocv17i2art11
publisher Virtus Interpress
college_str Faculty of Humanities and Social Sciences
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hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
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description Auditor independence and the quality of audit report is of growing concern to regulators, institutional investors and stakeholders as a series of accounting scandals have undermined the professionalism of auditors. The findings from this study produced an insight of how auditor’s independence improve audit quality and that abnormal audit fees is as a result of additional effort for auditor to carry out rigorous audit engagement as a result of wider audit scope; that mandatory audit firm rotation will enhance auditor independence, and that audit committee with nonexecutive independence will promote audit quality. The study also finds that in terms of auditor size, smaller audit firms that belong to professional bodies will provide higher audit quality. The main conclusion of this research is that where an auditor is fully independent in carrying out audit engagement with strong resistance to fees pressure will enhance audit quality. This research provides insight into the impact of IFRS adoption on audit fees.
published_date 2020-02-04T04:15:50Z
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score 11.016235

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