Auditing has been a subject of some controversy, and there have been repeated attempts at reforming its practice globally. This comprehensive companion surveys the state of the discipline, including emerging and cutting-edge trends. It covers the most important and controversial issues, including auditing ethics, auditor independence, social and environmental accounting as well as the future of the field.
The book has been extensively revised and updated for the second edition to take account of new developments in auditing, including the growing importance of the assurance of sustainability reports, and related topics such as environment, social and governance (ESG) as well as the increased importance of research in standard setting. It includes new chapters on public sector auditing; auditing from the perspective of social theory; the impact of culture on auditing; audit teams and individuals; data analytics and artificial intelligence; and current proposals for reform to auditing (such as the Brydon report). The book summarizes various audit research topics, giving an overall opinion of the results and prospects for future research in each chapter. Readers can thus focus on topics of most relevance to them.
This guide is essential reading for legislators, regulators, professionals, commentators, students and researchers involved with auditing and accounting. The collection will also prove an ideal starting place for researchers from other fields looking to break into this vital subject.
Auditing has been a subject of some controversy, and there have been repeated attempts at reforming its practice globally. This comprehensive companion surveys the state of the discipline, including emerging and cutting-edge trends.
Part 1: Overview and the Function of Auditing
1. Overview (David Hay, W.
Robert Knechel, Marleen Willekens)
2. The function of auditing (David C Hay,
W. Robert Knechel, Marleen Willekens) Part 2: The Social Environment of
Auditing
3. The financial reporting ecosystem and the demand for audit
(Michael A. Ricci and Edward F. Thomas)
4. Auditing in a global landscape
(Denise Hanes Downey and Kim Westermann)
5. The economics of audit
competition and audit fees (Andrew Kitto and Devin Williams)
6. Litigation
against auditors: emerging risks and research advances (Eldar Maksimov)
7.
Non-audit services and auditor independence (Divesh S. Sharma and Madhukar K.
Singh)
8. The role of organizational culture in auditing (Olof Bik and Reggy
Hooghiemstra)
9. Fraud and auditors responsibility (Ashley A. Austin and
Tina D. Carpenter)
10. Earnings management and auditing (Steven Cahan) Part
3: The Impact of Regulation
11. Auditor rotation (Mara Cameran and Angela
Pettinicchio)
12. Audit quality: Do we know what it is, and what determines
it? (Robert Felix and Mikhail Pevzner) Part 4: Auditing Settings
13.
International Standards in Auditing (ISAs) (Tjibbe Bosman and Ally Zimmerman)
14. Audits of private companies (Christopher Bleibtreu, John Christian
Langli, and Tobias Svanström)
15. Public sector auditing (Carolyn Cordery)
Part 5: The Process of Auditing
16. Public audit oversight (Ulrike Thürheimer
and Ann Vanstraelen)
17. Auditing ethics (David Hay and Lasse Niemi)
18. What
do we know about auditor industry specialization? (Sophie Audousset-Coulier,
Anne Jeny and Like Jiang)
19. Judgment and decision-making in auditing (Ken
T. Trotman, Paul Sakchuenyos, Andrew J. Trotman and Xiayue (Jessica) Zhang)
20. Analytical procedures: Evolution, challenges, and the transformative role
of artificial intelligence in auditing (Stephen Kwaku Asare and Justin Leiby)
21. Internal auditing (Marc Eulerich)
22. Professional skepticism
conceptualizations and measures (Erin Nickell and Christine Nolder)
23. Audit
partners and audit teams (Lena Pieper and Simon Dekeyser)
24. The audit
committee and the external auditor (Alain Schatt)
25. Advances in audit
technology (Ivy Munoko and Gabriel Pündrich) Part 6: Audit Reporting
26.
Audit reports (Paul Coram)
27. Reporting critical/key audit matters (Emeline
Deneuve)
28. Going concern (Marshall A. Geiger)
29. Auditors evaluation and
reporting on internal controls over financial reporting (Jennifer R. Joe and
Yi-Jing Wu)
30. Assurance of sustainability and climate-related Information
(Roger Simnett and Yitang (Jenny) Yang) Part 7: Conclusion
31. The future of
audit research (David Hay, W. Robert Knechel and Marleen Willekens)
David Hay is the Professor of Auditing at the University of Auckland, New Zealand. David is a former winner of the Notable Contribution to the Auditing Literature Award presented by the Auditing Section of the American Accounting Association, with his co-authors.
W. Robert Knechel is Distinguished Professor and the Frederick E. Fisher Eminent Scholar in Accounting at the University of Florida, US. He is the Director of the International Accounting and Auditing Center (IAAC).
Marleen Willekens is Full Professor of Accounting and Auditing at KU Leuven, Belgium. Her research focuses on the economics of auditing, audit market structure, audit regulation, and audit quality.
