Regulating the Audit Quality and Deprofessionalisation of the Auditing Profession
There has been considerable criticism of the auditing profession from the public following a series of corporate failures. Consequently, this has led to reform in the auditing regulatory framework. This study examines the impact of the auditing regulatory reforms, in particular, the impact of the in...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Universiti Malaya
2014-12-01
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| Series: | Asian Journal of Accounting Perspectives |
| Subjects: | |
| Online Access: | https://sare.um.edu.my/index.php/AJAP/article/view/3688 |
| _version_ | 1818332026360561664 |
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| author | Noor Adwa Sulaiman Rusnah Muhamad Mazni Abdullah |
| author_facet | Noor Adwa Sulaiman Rusnah Muhamad Mazni Abdullah |
| author_sort | Noor Adwa Sulaiman |
| collection | DOAJ |
| description | There has been considerable criticism of the auditing profession from the public following a series of corporate failures. Consequently, this has led to reform in the auditing regulatory framework. This study examines the impact of the auditing regulatory reforms, in particular, the impact of the independent audit inspection on the auditing profession. This is ascertained by analysing the views expressed in response to the discussion paper titled, ‘Promoting Audit Quality’ published by the Financial Reporting Council (FRC), and from interviews with selected audit partners in the United Kingdom. Using deprofessionalisation as a framework, the analysis highlights the conflict of jurisdiction over the work between the regulator and the audit practitioners, the challenge to the profession’s control over the professional knowledge base by the regulator, and the crisis of ideology of the members of the profession. The evidence suggests a trend towards deprofessionalisation of the auditing profession that may diminish auditors’ professional attributes and their social role to the public. |
| first_indexed | 2024-12-13T13:29:12Z |
| format | Article |
| id | doaj.art-fa7229e323604a5fb3b52f2faa5686f3 |
| institution | Directory Open Access Journal |
| issn | 2672-7293 0128-0384 |
| language | English |
| last_indexed | 2024-12-13T13:29:12Z |
| publishDate | 2014-12-01 |
| publisher | Universiti Malaya |
| record_format | Article |
| series | Asian Journal of Accounting Perspectives |
| spelling | doaj.art-fa7229e323604a5fb3b52f2faa5686f32022-12-21T23:44:13ZengUniversiti MalayaAsian Journal of Accounting Perspectives2672-72930128-03842014-12-0171Regulating the Audit Quality and Deprofessionalisation of the Auditing ProfessionNoor Adwa Sulaiman0Rusnah Muhamad1Mazni Abdullah2Faculty of Business and Accountancy, University of MalayaFaculty of Business and Accountancy, University of MalayaFaculty of Business and Accountancy, University of MalayaThere has been considerable criticism of the auditing profession from the public following a series of corporate failures. Consequently, this has led to reform in the auditing regulatory framework. This study examines the impact of the auditing regulatory reforms, in particular, the impact of the independent audit inspection on the auditing profession. This is ascertained by analysing the views expressed in response to the discussion paper titled, ‘Promoting Audit Quality’ published by the Financial Reporting Council (FRC), and from interviews with selected audit partners in the United Kingdom. Using deprofessionalisation as a framework, the analysis highlights the conflict of jurisdiction over the work between the regulator and the audit practitioners, the challenge to the profession’s control over the professional knowledge base by the regulator, and the crisis of ideology of the members of the profession. The evidence suggests a trend towards deprofessionalisation of the auditing profession that may diminish auditors’ professional attributes and their social role to the public.https://sare.um.edu.my/index.php/AJAP/article/view/3688audit quality reviewinspectionaudit qualitydeprofessionalisation |
| spellingShingle | Noor Adwa Sulaiman Rusnah Muhamad Mazni Abdullah Regulating the Audit Quality and Deprofessionalisation of the Auditing Profession Asian Journal of Accounting Perspectives audit quality review inspection audit quality deprofessionalisation |
| title | Regulating the Audit Quality and Deprofessionalisation of the Auditing Profession |
| title_full | Regulating the Audit Quality and Deprofessionalisation of the Auditing Profession |
| title_fullStr | Regulating the Audit Quality and Deprofessionalisation of the Auditing Profession |
| title_full_unstemmed | Regulating the Audit Quality and Deprofessionalisation of the Auditing Profession |
| title_short | Regulating the Audit Quality and Deprofessionalisation of the Auditing Profession |
| title_sort | regulating the audit quality and deprofessionalisation of the auditing profession |
| topic | audit quality review inspection audit quality deprofessionalisation |
| url | https://sare.um.edu.my/index.php/AJAP/article/view/3688 |
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