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Media type:
E-Article
Title:
The CLERP 9 Audit Reforms: Benefits and Costs Through the Eyes of Regulators, Standard Setters and Audit Service Suppliers
Contributor:
Houghton, Keith A.;
Kend, Michael;
Jubb, Christine
Published:
Wiley, 2013
Published in:
Abacus, 49 (2013) 2, Seite 139-160
Language:
English
DOI:
10.1111/abac.12002
ISSN:
0001-3072;
1467-6281
Origination:
Footnote:
Description:
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.