By V. Beattie, R. Brandt, S. Fearnley
This ebook is going "behind closed doorways" to discover the character of the connection among auditors and the finance administrators in significant indexed businesses. in accordance with interviews with finance administrators and audited engagement companions of six businesses, the booklet uncovers either side' perceptions of ways contentious and non-contentious matters are resolved. New insights are supplied in regards to the workings of the audit method itself, how negotiation is performed, and the non-public relationships and stability of energy among the auditors and the board of administrators.
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Extra resources for Behind Closed Doors: What Company Audit Is Really About
The two drivers of continuance intentions are co-operation and opportunistic behaviour (behaviour of one party that endangers a relationship for the purposes of taking advantage of a new opportunity). De Ruyter and Wetzels conduct an empirical study into these links based on clients of a leading audit firm in the Netherlands. A postal questionnaire sent to 213 clients is used to measure the model’s variables and subsequent modelling shows the direction and strength of the links between these variables.
To provide a specific context within which to respond, AEPs were asked to respond with reference to one specific listed company client; specifically, ‘the listed company for whom they act as engagement partner which generates the largest total recurring fee (including nonaudit services) in their listed portfolio’ (emphasis in original). Respondents were asked to indicate which of 46 itemised issues had ‘been the subject of discussion and/or negotiation between you and your auditor/client X over the last three years, and whether any of these discussions or negotiations resulted in any change to you/your client’s proposed accounting numbers or disclosures’.
They asked controllers of the Fortune 1000 companies to rate their auditor on the 12 audit quality attributes identified by Carcello et al. (1992) and to rate their level of satisfaction with both the audit firm and the audit team. The satisfaction measures were modelled as a function of the 12 quality attributes, in addition to variables to capture the presence of a new auditor, the controller’s work experience, client size and audit opinion. The model explained 61 per cent of the variation in client satisfaction.
Behind Closed Doors: What Company Audit Is Really About by V. Beattie, R. Brandt, S. Fearnley