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|Title:||The Introduction of Clerp 9 Audit Regulation and its Impact on the Auditing Profession|
Discipline of Accounting, Economics and Business
|Keywords:||Australian Auditing Standards|
|Abstract:||This study examines the introduction of legally enforceable Australian Auditing Standards (ASAs) and the impact on the audit profession after their first year of implementation. This study is informed by regulation theories and potential costs, benefits and other impacts of the new regulatory regime identified by the Australian government’s April 2006 Regulation Impact Statement (RIS). This study collected relevant data through semi-structured in-depth interviews with the same key stakeholders as RIS (accounting firms, professional bodies and regulatory bodies). The results indicate significant differences to the government’s pre-implementation RIS expectations, as well as differences between stakeholder groups. Overall the accounting profession does not consider that the extra burden of demonstrating compliance with the legally enforceable ASAs has changed the audit process or audit outcomes. The auditing profession does not consider the extra burden of the new regime justifiable as it has not increased audit quality or public confidence, which were the main aims of the government’s regulatory intervention.|
|Department/Unit/Centre:||Discipline of Accounting, Economics and Business|
|Rights and Permissions:||The author retains copyright of this thesis|
|Type of Work:||Thesis, Honours|
|Appears in Collections:||Honours Theses|
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|Angela Hecimovic_Thesis_final 19 Dec 2007.pdf||1.17 MB||Adobe PDF||View/Open|
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