Project Details
Description
As a result of significant concerns expressed by regulators and other market participants about the quality of audits, there has been significant regulatory emphasis on the process of independent inspections of audit firms’ quality controls in Australia and internationally. Inspections of audit firms have become the first ’ weapon of choice’ of regulators in the drive to improve audit quality and avoid corporate failure. This proposal examines the extent to which inspections have an incremental effect on audit quality. Thus we examine the efficiency of the inspection regimes in effect in Australia and internationally and provide insights to regulators and standard setters as to how to direct future improvements in this critical area.
Status | Finished |
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Effective start/end date | 1/01/13 → 4/10/16 |