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dc.contributor.authorAziz, U.A.
dc.contributor.authorOmoteso, Kamil
dc.date.accessioned2019-01-14T10:34:13Z
dc.date.available2019-01-14T10:34:13Z
dc.date.issued2014-11-04
dc.identifier.citationAziz, U.F., and Omoteso, K. (2014) 'Reinforcing users’ confidence in statutory audit during a post-crisis period: An empirical study', Journal of Applied Accounting Research, 15(3), pp.308-322.en
dc.identifier.issn0967-5426
dc.identifier.doi10.1108/JAAR-11-2013-0108
dc.identifier.urihttp://hdl.handle.net/10545/623286
dc.description.abstractPurpose – The purpose of this paper is to examine the factors that are perceived as important for the statutory audit function to restore confidence in the financial statements, its value relevance and decision usefulness in the aftermath of the financial crisis. Design/methodology/approach – This research used a structured questionnaire to collect data from practising accountants, auditors and accounting academics within the UK. A factor analysis was undertaken to examine the potential inter-correlations that could exist between different factors obtained from the literature. The analysis reduced these variables into the more important factors which were subsequently modelled in a logistic regression analysis. Findings – The paper identified, as critical factors for enhancing statutory audits, “a continuously updated accounting curriculum”, “expansion of the auditor's role”, “frequent meetings between regulators and auditors”, “mandatory rotation of auditors”, “limiting the provision of non-audit services”, “knowledge requirements from disciplines other than accounting” and “encouraging joint audits”. It is hoped that addressing these issues might improve confidence in the audit profession, thereby reinforcing its value relevance. Research limitations/implications – The study's findings imply that professional accountancy bodies, accounting educators and accounting firms will need to incorporate the key factors identified in this study into their curriculum and training schemes. However, the generalisability of these findings might be limited as the research data were primarily obtained from UK accountants alone. Originality/value – This study extends the frontiers of knowledge on critical factors that could reinforce users’ confidence in the statutory audit function and have implications for policy and practice.
dc.description.sponsorshipN/Aen
dc.language.isoenen
dc.publisherEmerald Group Publishing Limiteden
dc.relation.urlhttps://www.emeraldinsight.com/doi/abs/10.1108/JAAR-11-2013-0108en
dc.subjectStatutory auditen
dc.subjectFinancial crisisen
dc.titleReinforcing users’ confidence in statutory audit during a post-crisis period: An empirical study.en
dc.typeArticleen
dc.contributor.departmentDe Montfort Universityen
dc.contributor.departmentCoventry Universityen
dc.identifier.journalJournal of Applied Accounting Researchen
dc.dateAccepted2014-06-01
refterms.dateFOA2019-02-28T18:03:33Z
html.description.abstractPurpose – The purpose of this paper is to examine the factors that are perceived as important for the statutory audit function to restore confidence in the financial statements, its value relevance and decision usefulness in the aftermath of the financial crisis. Design/methodology/approach – This research used a structured questionnaire to collect data from practising accountants, auditors and accounting academics within the UK. A factor analysis was undertaken to examine the potential inter-correlations that could exist between different factors obtained from the literature. The analysis reduced these variables into the more important factors which were subsequently modelled in a logistic regression analysis. Findings – The paper identified, as critical factors for enhancing statutory audits, “a continuously updated accounting curriculum”, “expansion of the auditor's role”, “frequent meetings between regulators and auditors”, “mandatory rotation of auditors”, “limiting the provision of non-audit services”, “knowledge requirements from disciplines other than accounting” and “encouraging joint audits”. It is hoped that addressing these issues might improve confidence in the audit profession, thereby reinforcing its value relevance. Research limitations/implications – The study's findings imply that professional accountancy bodies, accounting educators and accounting firms will need to incorporate the key factors identified in this study into their curriculum and training schemes. However, the generalisability of these findings might be limited as the research data were primarily obtained from UK accountants alone. Originality/value – This study extends the frontiers of knowledge on critical factors that could reinforce users’ confidence in the statutory audit function and have implications for policy and practice.


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