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Home List of Titles The market for financial report audits: regulation of and competition for auditor independence
Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.3/239774
- The market for financial report audits: regulation of and competition for auditor independence
- Houghton, Keith A.; Jubb, Christine A.
- The independence of auditors and the quality of financial report audits generally are rarely tested except in circumstances of corporate failure when alleged sub-optimality is present. Often auditors have good defences as to their expertise or competency, but rarely do they have equally convincing defences for the independence of their audit. A major issue for the regulation of auditor independence is that the threats to independence are often subtle and difficult to measure. This paper argues that firms undertaking financial report audits need to be transparent and competitive in respect of auditor independence. Two models that adopt this premise are proposed.
- Publication type
- Journal article
- Law and Policy, Vol. 25, no. 3 (Jul 2003), pp. 299-321
- Publication year
- FOR Code(s)
- 1602 Criminology; 1605 Policy and Administration; 1801 Law
- Auditing quality; Auditor independence; Corporate failure
- Publisher URL
- Copyright © Blackwell Publishing Ltd 2003.
- Additional information
- This paper draws in part on a submission by Keith Houghton to the Australian Parliamentary Committee Inquiry into Auditor Independence.
- Peer reviewed