20020101-the-contemporary-nature-and-status-of-the-external-audit-function

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In Folder: Research funded by the Charitable Trust

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20020101-the-contemporary-nature-and-status-of-the-external-audit-function

In the light of continuing debates on the future of the external financial audit, [the authors] saw much value in surveying a sample of members of the Institute of Chartered Accountants in England Wales (ICAEW) - especially given that the membership has been seen recently to hold varying opinions about the education and training of auditors, the status of the small company financial audit and the potential for alternatives such as the independent professional review. The survey was carried out in late 2000, following a series of interviews with "leading opinion formulators" in the UK audit arena. The postal questionnaire was approved by the ICAEW's Centre for Business Performance and, in the case of audit partners, was distributed with a supporting letter from the ICAEW's Audit and Assurance Faculty. In total, 202 usable response were received, giving an overall usable response rate of 25% - a level of response that compared favourably with previous member surveys conducted by the Audit and Assurance Faculty. Respondents were of a senior nature in terms of audit experience. 90% of the responding auditors were partners in their respective firms while 65% of all respondents had been a qualified Chartered Accountant for over 15 years.

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title: The contemporary nature and significance of the external audit function: an empirical survey of the views of ICAEW members

creator: Christopher Humphrey

creator: Mary Bowerman

creator: David Owen

creator: Chris Stride

subject: Corporate governance

subject: Business management and strategy

subject: Auditor liability

description: In the light of continuing debates on the future of the external financial audit, [the authors] saw much value in surveying a sample of members of the Institute of Chartered Accountants in England Wales (ICAEW) - especially given that the membership has been seen recently to hold varying opinions about the education and training of auditors, the status of the small company financial audit and the potential for alternatives such as the independent professional review. The survey was carried out in late 2000, following a series of interviews with "leading opinion formulators" in the UK audit arena. The postal questionnaire was approved by the ICAEW's Centre for Business Performance and, in the case of audit partners, was distributed with a supporting letter from the ICAEW's Audit and Assurance Faculty. In total, 202 usable response were received, giving an overall usable response rate of 25% - a level of response that compared favourably with previous member surveys conducted by the Audit and Assurance Faculty. Respondents were of a senior nature in terms of audit experience. 90% of the responding auditors were partners in their respective firms while 65% of all respondents had been a qualified Chartered Accountant for over 15 years.

publisher: ICAEW Centre for Business Performance

contributor: ICAEW charitable trusts

date: 2002-01-01

type: text

type: Report

format: pdf

identifier:

source:

language: en

relation:

coverage:

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