The CLERP 9 Audit Reforms: Benefits and Costs Through the Eyes of Regulators, Standard Setters and Audit Service Suppliers.

Over the past decade or more Australia amongst other jurisdictions has experienced substantial reforms to auditing regulation in an effort to boost public confidence in the auditing profession. This paper aims to examine whether these changes in the Australian regulatory environment for audits have...

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Publicado en:Abacus Vol. 49; no. 2; pp. 139 - 161
Autores principales: Houghton, Keith A., Kend, Michael, Jubb, Christine
Formato: Artículo
Publicado: Wiley-Blackwell Jun2013
Materias:
Acceso en línea:Ver este registro en EBSCOhost
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        atl: The CLERP 9 Audit Reforms: Benefits and Costs Through the Eyes of Regulators, Standard Setters and Audit Service Suppliers.
      aug:
        au:
          Houghton, Keith A.
          Kend, Michael
          Jubb, Christine
        affil:
          Crawford School of Public Policy, Australian National University
          RMIT University
          School of Accounting and Business Information Systems, Australian National University
      su:
        Regulatory reform
        Auditing
        Auditing standards
        Public support
        Financial statements
        Qualitative research
        Economic competition
        Public Company Accounting Oversight Board
        Two-person zero-sum games
        Australia
      sug:
        subj:
          Australia
          Regulatory reform
          Auditing
          Auditing standards
          Public support
          Financial statements
          Qualitative research
          Economic competition
          Public Company Accounting Oversight Board
          Two-person zero-sum games
      keyword:
        Audit quality
        Audit reforms
      ab: Over the past decade or more Australia amongst other jurisdictions has experienced substantial reforms to auditing regulation in an effort to boost public confidence in the auditing profession. This paper aims to examine whether these changes in the Australian regulatory environment for audits have (a) provided enhanced confidence in reported financial data, (b) impacted audit costs and (c) not limited competition in the market for audit services. Using qualitative interview data, this study reports on the perceptions of auditors, auditing standard setters and regulators in relation to the CLERP 9 reforms to the Australian auditing regime in the later part of the 2000s. A theoretical framework is developed to evaluate whether these reforms are substantive enough in nature to effect public confidence in reported financial data and market competition in audits.
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    language: English
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