The future of auditing : keeping capital markets efficient : towards a national strategy on the future of auditing / Keith A. Houghton [and three others].

Format:

Book

Author/Creator:

Houghton, Keith A., author.

Language:

English

Subjects (All):

Auditing--Australia.

Auditing.

Auditors--Australia.

Auditors.

Physical Description:

1 online resource (772 pages) : illustrations, charts.

Place of Publication:

Acton, Australian Capital Territory : Australian National University Press, 2009.

Language Note:

English

System Details:

text file

Summary:

At a time when increased independence requirements for auditors, legal backing for auditing standards, and increased audit documentation requirements have occurred, this book examines key issues in the market for audit services in Australia. It investigates issues including: the understandability of audit and the state of the audit expectations gap; auditors’ business acumen and industry expertise; the auditors’ use of materiality; whether or not the increasingly prescriptive nature of auditing is creating a distraction from the ‘real’ audit task and stifling auditors’ judgement; whether or not CLERP 9 reforms involving audit partner rotation and restrictions on non-audit service provision are efficient and effective and reactions to the increasing scrutiny of auditors and audit firms by regulators. With its thorough coverage of contemporary issues, this book intersperses the authors’ summaries, interpretations and recommendations with the perceptions, expressed in their own words in order to faithfully convey their candid assessments, of users of audit reports, purchasers and suppliers of the audit product, auditing standard setters and regulators of the audit market.

Contents:

Preliminary; Acknowledgments; Executive summary; Summary of report chapters; List of Tables; List of abbreviations and acronyms; DIVISION A; 1. Introduction and summary of findings; 2. Research method; DIVISION B; 3. Understanding of the audit and perceptions of the deliverables; 4. Communication ; 5. Understanding of materiality; DIVISION C; 6. Developing business acumen and client and industry knowledge; 7. Attracting and supporting staff; 8. Retention of staff; DIVISION D; 9. Auditor independence; DIVISION E; 10. Regulatory reforms to audit

11. Increasingly Prescriptive audits A Distraction for Auditors?12. The approach, operation and resources of regulators; DIVISION F; 13. Competition; DIVISION G; 14. Differential auditing standards; 15. Internal audit; 16. Other assurance services and reports; 17. Differing levels of audit assurance; DIVISION H; 18. Conclusion and recommendat ions; Appendix; About the authors; Index

Notes:

Includes index.

Includes bibliographical references and index.

CC BY-NC-ND

Description based on: online resource; title from pdf title page (JSTOR, viewed June 14, 2020).

Other Format:

Print version:

ISBN:

9781921666513

192166651X

Publisher Number:

10.26530/OAPEN_459250