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A framework for audit quality: Critical analysis

A framework for audit quality: Critical analysis

Neri, Lorenzo ORCID: 0000-0001-6627-0386 and Russo, Antonella ORCID: 0000-0001-9376-1383 (2014) A framework for audit quality: Critical analysis. Business and Management Review, 3 (9). pp. 25-30. ISSN 2047-0398

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Audit quality plays an essential role in maintaining an efficient market environment. External audits performed in accordance with high quality auditing standards provide a fundamental contribution in the implementation of accounting standards by reporting entities. This paper analyze the critical view of previous literature on audit quality and deeply examines the standard setters proposal on audit quality in order to verify if they created a coherent approach that could be used in the generation of a unique Audit quality framework. A specific focus is on the PCAOB and IAASB projects on audit quality that try to identify the purpose, characteristics, and indicators of the audit quality, setting off two different perspectives in the audit quality debate. At the end of the review and of the analysis, we deem that regulators and academic researches should consider also the pivotal role of the stakeholders to link the audit quality not only to input, process or output issues, but also to those audit quality drivers outside the direct control of audit firms.

Item Type: Article
Uncontrolled Keywords: Audit quality, Audit quality indicators, Auditing standards
Subjects: H Social Sciences > HG Finance
Faculty / School / Research Centre / Research Group: Faculty of Business
Faculty of Business > Department of Accounting & Finance
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Last Modified: 13 May 2020 04:36

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