Factors affecting external auditors' independence in discharging their responsibilities: a survey of medium level auditing firms
More drama continued to unfold in the case of the country's stock market and the recent crackdown by the apex regulator as the Securities and Exchange Commission of Pakistan (SECP) sought information from six auditing firms
to assess the quality of their audit, source said to Research Analyst-PAGE.
Garcia-Sanchez, Isabel Maria, Isabel Gallego-Alvarez, Luis Rodriguez-Dominguez, Beatriz Cuadrado-Ballesteros, and Raquel Garcia-Rubio (2014), "Rotation of Auditing Firms
and Political Costs: Evidence from Spanish Listed Companies," International Journal of Auditing 18: 223-232.
In order to improve Vietnamese auditors' knowledge of audit quality, independent audit and factors influencing audit quality, auditing firms
need to provide more professional training for their staff.
16) If companies are required to periodically rotate their auditing firms
, however, it is possible that auditors no longer will be willing to absorb first-time-through costs and will instead pass such costs along to companies in the form of higher audit fees.
The new rule limits the percentage of foreign-qualified partners at the Big Four auditing firms
in China at 40%, as of August 2013, and at 20% by 2017.
Those who enter go to the international auditing firms
present in Oman who are already serving as their auditors in their home markets.
There will also be a high level of coordination required between the outgoing and incoming auditing firms
Most recently, the Sarbanes-Oxley Act required the Comptroller General to conduct a study of the potential effects of mandatory rotation of auditing firms
, bringing audit firm rotation once again to the forefront.
as their auditor are unable to sign up for new auditing firms
, raising the possibility that they may be delisted if the situation drags on, informed source said Saturday.
As an autonomous organization affiliated with the AICPA, the CAQ is governed by a board consisting of AICPA President and CEO Barry Melancon, leaders from public company auditing firms
and the investor and issuer communities.
The partners of outside auditing firms
have become more conservative than ever, refusing to sign off on many transactions and practices that have been allowed for years due to worries about what the Public Company Accounting Oversight Board might do or say.