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COMPETITION AND THE REGULATION OF AUDITOR INDEPENDENCE IN THE EC

COMPETITION AND THE REGULATION OF AUDITOR INDEPENDENCE IN THE EC The paper sets out the findings of a study by the authors of the EC audit and consultancy sectors, presenting their view that it is auditors' independence rather than competition which provides those concerned with regulation of the industry with the most urgent public policy issues. The authors consider the approaches adopted by EC Member States to protect auditors' independence, concluding that these approaches have a limited effect. The paper closes by proposing an alternative approach to improving assurances of auditors' independence which would combine independent inspection of audit standards, consumer demand for safeguards and moves by suppliers to anticipate that demand. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Regulation and Compliance Emerald Publishing

COMPETITION AND THE REGULATION OF AUDITOR INDEPENDENCE IN THE EC

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1358-1988
DOI
10.1108/eb024764
Publisher site
See Article on Publisher Site

Abstract

The paper sets out the findings of a study by the authors of the EC audit and consultancy sectors, presenting their view that it is auditors' independence rather than competition which provides those concerned with regulation of the industry with the most urgent public policy issues. The authors consider the approaches adopted by EC Member States to protect auditors' independence, concluding that these approaches have a limited effect. The paper closes by proposing an alternative approach to improving assurances of auditors' independence which would combine independent inspection of audit standards, consumer demand for safeguards and moves by suppliers to anticipate that demand.

Journal

Journal of Financial Regulation and ComplianceEmerald Publishing

Published: Feb 1, 1992

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