The economics of audit quality: private incentives and the regulation of audit and non-audit services
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Boston [u.a.]
Kluwer
1999
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | X, 201 S. graph. Darst. |
| ISBN: | 0792384733 |
Internformat
MARC
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| 001 | BV013321769 | ||
| 003 | DE-604 | ||
| 005 | 20091105 | ||
| 007 | t | ||
| 008 | 000831s1999 xxud||| |||| 00||| eng d | ||
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| 035 | |a (OCoLC)40753284 | ||
| 035 | |a (DE-599)BVBBV013321769 | ||
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| 100 | 1 | |a Arruñada, Benito |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a The economics of audit quality |b private incentives and the regulation of audit and non-audit services |c by Benito Arruñada |
| 264 | 1 | |a Boston [u.a.] |b Kluwer |c 1999 | |
| 300 | |a X, 201 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 650 | 7 | |a Accountancy |2 gtt | |
| 650 | 7 | |a Adviesbureaus |2 gtt | |
| 650 | 7 | |a Auditing |2 gtt | |
| 650 | 7 | |a Kwaliteitscontrole |2 gtt | |
| 650 | 7 | |a Vérification comptable - Droit |2 ram | |
| 650 | 7 | |a Vérification comptable - Normes |2 ram | |
| 650 | 7 | |a Vérification comptable - Qualité - Contrôle |2 ram | |
| 650 | 4 | |a Recht | |
| 650 | 4 | |a Auditing / Standards | |
| 650 | 4 | |a Auditing / Quality control | |
| 650 | 4 | |a Auditing / Law and legislation | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009084453&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-009084453 | ||
Datensatz im Suchindex
| _version_ | 1804128094518247424 |
|---|---|
| adam_text | Contents
1 Auditing quality 3
1.1 The demand for financial auditing 3
1.1.1 Financial auditing as a contractual facilitator 4
1.1.2 Empirical evidence 7
1.2 The dimensions of quality g
1.2.1 Technical competence and independence 8
1.2.2 The importance of professional judgement and the danger of
inducing defensive auditing 9
1.3 The conflict with third parties and among clients regarding auditor
independence 15
2 The safeguard of quality 19
2.1 General analysis of safeguarding mechanisms 20
2.1.1 Explicit and implicit safeguards 20
2.1.2 The role of quasi rents in the safeguard of quality 20
2.1.3 Formal analysis of quality assurance 21
2.2 Strategies adopted to create quality safeguarding incentives 24
2.2.1 Low cost strategies 25
v
vi Contents
2.2.2 High cost strategies ;.» • 32
2.3 The last period problem and its consequences for auditing quality 35
2.4 The regulation of quality: Attainable objectives 37
2.4.1 Independence failures in professional practice 37
2.4.2 Regulation as a facilitator of judicial and market controls 38
2.4.3 Fragmentation versus safeguard regulatory strategies 40
3 Auditor independence as an economic decision 43
3.1 Concepts of auditor independence 43
3.2 Economic factors behind auditor independence 44
3.3 The cost of independence: the loss of client specific assets 49
3.3.1 Volume of quasi rents to be received by the auditor 49
3.3.2 Specific assets caused by excess capacity ; : ¦ ; 53
3.3.3 Probability of auditor switching 54
3.3.4 Value of client specific assets wneft only auditing services
are provided 55
3.4 The costs of dependence ; ;f ¦¦¦ : ! ; ¦ ¦ ¦ 57
3.4.1 The loss of quasi rerits associated With current clie tits1 ! •; 58
3.4.2 The loss of quasi rents linked to potential cfteri^s ? • 59
3.4.3 Losses related to professional and1 criminal liability 60
3.4.4 The role of risk aversion 64
4 The supply of non audit services by auditors 69
4.1 Definition and types of non audit services: the imporlarice of a ¦
general analysis 69
4.2 Economies of scope ..... ;. 71
4.2.1 Auditing technology and firms* complexity ¦¦.¦¦¦¦¦ ¦¦ 71
4.2.2 The supply of non audit services as a natural consequence of
modern auditing . ,73
4.2.3 Origin and types of economies of scope 74
Contents vii
4.2.4 The existence of.diseeoaomies ofscope ,.c. ^ .;!..„,, t ,.),¦»,, ,; h79
¦ !. ./ , n ij},ir. r i Un, .v, ,, d hm; ¦¦ ¦. .. . , .
5, Effects of non audit services on auditor independence 81
5.1 Effects of non audit services on the econpnjte inpentiy.es,fcir =: ...
independence in fact 81
~ 5.1.1 Higher quasi rentslinked to«each cliwit makediversified : ¦¦.¦ ,
auditors more independent 82
• 5.1.2 The increase in firm specific assets favors independence,. H*, .,: :85
5.1.3 Other effects ,86
5.1.4 Empirical evidence re^atding the effects of the supply of
non audit services bii inde pe ridence in fact gg
5.1.5 The reaction of audit clients f 91
5v2 Effects on the appearance of independence •. , . 92
5.2.1 Studies based on surveys 92
5.2.2 General limitations of the studies based on surveys 96
5.2.3 The correlation between supply ofServices and qualified
auditor opinion 98
5.3 Private safeguards of independence with respect to the supply of
¦ non audit services , ¦ . 9g
5.3.1 Self regulatory safeguards 99
5.3.2 Organizational safeguards ¦ ¦ : ltfl
5.3.3 The federation of firms 104
6 Effects of non audit services on market competition : 109
6;1 The argumeftt regarding auditing as a loss leader 109
6.2 Doubts as to the prevalence of introductory pricing 111
6.3 The efficiency of introductory pricing 113
6.3.1 Introductory pricing as a consequence of the competition for _ , ..
quasi rents 114
6.3.2 The implausibility of predatory behavior through cross
subsidization between different kinds of service 120
viii Contents
6.4 Elements for a positive analysis of the provision of non audit
services and the prohibitionist proposals 122
6.4.1 Consequences for firms specialized in auditing 122
6.4.2 Consequences for providers of other services 124
6.4.3 Towards a new equilibrium 127
7 Normative possibilities for non audit services 131
7.1 The public debate 131
7.1.1 The initial debate in the United States 131
7.1.2 The eclecticism of Cadbury and other reports on corporate
governance 133
7.1.3 The opinion of sector reports 134
7.1.4 The European Union Green Paper 137
7.2 Analysis of the main regulatory possibilities 139
7.2.1 Rules forbidding or restricting the supply of non audit
services 140
7.2.2 Rules facilitating the work of the market and self regulation 143
7.2.3 Minimum diversification rules 143
7.2.4 Disclosure rules 148
8 Let knowledge evolve in the market 159
8.1 Private quality safeguards and the role of regulation 160
8.1.1 Dimensions of auditing quality which are crucial for
regulation 160
8.1.2 Market based quality safeguards and the role of regulation 163
8.2 The provision of non audit services: Consequences and regulation 165
8.2.1 Consequences of the supply of non audit services 166
8.2.2. The regulation of non audit services 171
References 177
Index 191
|
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| id | DE-604.BV013321769 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:43:47Z |
| institution | BVB |
| isbn | 0792384733 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-009084453 |
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| physical | X, 201 S. graph. Darst. |
| publishDate | 1999 |
| publishDateSearch | 1999 |
| publishDateSort | 1999 |
| publisher | Kluwer |
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| spelling | Arruñada, Benito Verfasser aut The economics of audit quality private incentives and the regulation of audit and non-audit services by Benito Arruñada Boston [u.a.] Kluwer 1999 X, 201 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Accountancy gtt Adviesbureaus gtt Auditing gtt Kwaliteitscontrole gtt Vérification comptable - Droit ram Vérification comptable - Normes ram Vérification comptable - Qualité - Contrôle ram Recht Auditing / Standards Auditing / Quality control Auditing / Law and legislation HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009084453&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Arruñada, Benito The economics of audit quality private incentives and the regulation of audit and non-audit services Accountancy gtt Adviesbureaus gtt Auditing gtt Kwaliteitscontrole gtt Vérification comptable - Droit ram Vérification comptable - Normes ram Vérification comptable - Qualité - Contrôle ram Recht Auditing / Standards Auditing / Quality control Auditing / Law and legislation |
| title | The economics of audit quality private incentives and the regulation of audit and non-audit services |
| title_auth | The economics of audit quality private incentives and the regulation of audit and non-audit services |
| title_exact_search | The economics of audit quality private incentives and the regulation of audit and non-audit services |
| title_full | The economics of audit quality private incentives and the regulation of audit and non-audit services by Benito Arruñada |
| title_fullStr | The economics of audit quality private incentives and the regulation of audit and non-audit services by Benito Arruñada |
| title_full_unstemmed | The economics of audit quality private incentives and the regulation of audit and non-audit services by Benito Arruñada |
| title_short | The economics of audit quality |
| title_sort | the economics of audit quality private incentives and the regulation of audit and non audit services |
| title_sub | private incentives and the regulation of audit and non-audit services |
| topic | Accountancy gtt Adviesbureaus gtt Auditing gtt Kwaliteitscontrole gtt Vérification comptable - Droit ram Vérification comptable - Normes ram Vérification comptable - Qualité - Contrôle ram Recht Auditing / Standards Auditing / Quality control Auditing / Law and legislation |
| topic_facet | Accountancy Adviesbureaus Auditing Kwaliteitscontrole Vérification comptable - Droit Vérification comptable - Normes Vérification comptable - Qualité - Contrôle Recht Auditing / Standards Auditing / Quality control Auditing / Law and legislation |
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