Title: Navigating the Challenges of Auditor Independence Literature Review

Embarking on the journey of conducting a literature review on the intricate subject of auditor
independence is no small feat. As researchers delve into this domain, they quickly realize the
complexity and depth of the topic, making it a challenging task to synthesize and present the existing
knowledge coherently. In this article, we shed light on the difficulties associated with crafting a
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The Complex Landscape of Auditor Independence

Auditor independence is a multifaceted concept, encompassing legal, ethical, and professional
dimensions. The literature surrounding this topic is vast and spans various disciplines, including
accounting, finance, and ethics. As researchers attempt to navigate through an extensive array of
scholarly articles, books, and research papers, they encounter the challenge of synthesizing diverse
perspectives and findings into a comprehensive overview.

Synthesizing Diverse Perspectives

One of the primary difficulties faced in crafting a literature review on auditor independence is the
need to synthesize a plethora of diverse perspectives. Researchers must analyze and integrate
contrasting viewpoints, methodologies, and empirical findings to present a balanced and nuanced
understanding of the subject. This requires not only a deep understanding of the topic but also a keen
analytical ability to identify patterns and gaps within the existing literature.

Staying Updated with Evolving Research

The field of auditor independence is dynamic, with ongoing developments and new research
emerging regularly. Keeping up with the latest advancements in the literature is a formidable
challenge for researchers, as it demands constant vigilance and dedication. Failing to incorporate
recent studies can result in an incomplete and outdated literature review.

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In conclusion, the challenges associated with writing a literature review on auditor independence are
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However, some studies indicated a positive relationship while others showed contrary due to the
type of study. We conclude that the mixed evidence, together with recent regulatory changes,
provides opportunities for future research on auditor independence and audit quality. This concept
needs the assessor to carry out their job in an objective manner without any hindrance. Auditor’s
Independence: A Literature Review For many decades, practitioners and academics have struggled
to find definitions for independence in the audit context. Finally, non-audit services (NAS) rendered
to Client Company should be reduced to barest minimum. Based on the review, findings show that
there is a strong relationship between auditor independence and audit. The underdevelopment in the
audit infrastructure was also mentioned by police makers at Ministry of trade and Industry among
the possible challenges speeding up investment and economic development in Ethiopia (MOI, 2005).
Resources Dive into our extensive resources on the topic that interests you. This article seeks to
underscore the pivotal importance of auditing and the function of audit impartiality in guaranteeing
the dependability and credibility of financial information utilized in credit and investment
resolutions. Statistics Make data-driven decisions to drive reader engagement, subscriptions, and
campaigns. However, there is no publicly known corporate failure and audit scandal in Ethiopia, the
possible lack of independence may bring it into existence to hamper the ongoing private sector
development and economic growth that has See Full PDF Download PDF See Full PDF Download
PDF Related Papers AUDITORS' INDEPENDENCE AND AUDIT QUALITY IN NIGERIA
Science and Education Development Institute (SEDInst) Audit quality is expected to be enhanced if
auditor's independence is assured. Fullscreen Sharing Deliver a distraction-free reading experience
with a simple link. Since the year of 2000, an upsurge of high-profile scandals and frauds in
accounting have been witnessed that cast the profession into the limelight, negatively impacting the
public perception of auditor’s independence. Add Links Send readers directly to specific items or
pages with shopping and web links. Adobe InDesign Design pixel-perfect content like flyers,
magazines and more with Adobe InDesign. For audit independence's antecedents, intrinsic ethical
concentration and extrinsic stimulus outstandingly play important roles. We organize our review
around four main threats to auditor independence, namely, (a) client importance, (b) non-audit
services, (c) auditor tenure, and (d) client affiliation with audit firms. For each of the threats, we
discuss findings related to the incentives, perceptions, and behaviors of the auditor and the client, as
well as the effects of each threat on the actual and perceived quality of audits and financial reports.
The particular issues that are attached with the in internal audit process are inadequate internal
controls, inadequate risk management and poor governance within the organisation ( Roy 2015).
Avoiding relationships will link even closer to the auditor's profession as relationships could affect
their opinions on financial statements of clients. An auditor must be watchful to any harmful impacts
on his planning, investigation, or reporting to preserve independence under the numerous pressures
from clients. Issuu turns PDFs and other files into interactive flipbooks and engaging content for
every channel. In addition to that relationship will be established between various corporate frauds
conducted in past by management and independence of Auditor in such organisations ( Thompson,
2018 ). 3 End of preview Want to access all the pages. There are the Audit Charter and the reporting
committee who are generally the body in the organisation who provides the independence to the
auditors from the company’s management, there is also the code of ethics within the organization
that guides the auditor independence from the third parties. Social Posts Create on-brand social posts
and Articles in minutes. The study is conducted based up on review of literatures and identified the
factors that possibly influenced perceived independence of auditor. Independence continues to be a
problem when it comes to finding out how accurate and credible investor finan. In this regard there
is the Audit Committee support and the public standards of accounting that gives management
independence. The users of audited account are most times not satisfied with the work an auditor
does and each of the users have their different ways and purposes in which they use the report of an
auditor (Atu and Atu, 2010). This study investigated accountability in the Nigerian Public Sector.
Social Posts Create on-brand social posts and Articles in minutes. Essentially, these circumstances
can easily come into the conclusion that the report is manipulated. Articles Get discovered by sharing
your best content as bite-sized articles. Statistics Make data-driven decisions to drive reader
engagement, subscriptions, and campaigns. This study attempts to explore the determinants of
auditor independence as perceived by Malaysian accountants using a self-administered mail survey.
Download Free PDF View PDF Audit independence Just a Dreamer chox Audit independence,
quality, and credibility: effects on reputation and sustainable success of CPAs in Thailand. The
potential financiers, firm’s shareholders, agencies of different governing bodies, bankers and many
others are troubled and get affected by the company’s pecuniary assertions. This has been repeatedly
mentioned as the underpinning rational for examining the effectiveness of auditors' independence
from different perspectives. Studies on auditors' independence and its effect of actual audit quality
and users expectation gap are useful to inform regulatory bodies and the accounting profession in
devising ways to enhance auditors' independence and the role in corporate governance. This study
provides a basis for the profession to establish policies relating to auditor independence. Based on the
review, findings show that there is a strong relationship between auditor independence and audit.
You can download the paper by clicking the button above. The focus of this paper is to evaluate the
impacts auditors independence will have on audit quality. To browse Academia.edu and the wider
internet faster and more securely, please take a few seconds to upgrade your browser. It also
identifies various factors that can affect auditor’s independence while conducting audit engagement.
We conclude that the mixed evidence, together with recent regulatory changes, provides
opportunities for future research on auditor independence and audit quality. The professional code of
conduct at international and local levels as well as the commercial codes that govern the business
and economic endeavors stated that professional accountants must be competent and independent to
undertake an audit and assurance services. Overtime, public sector auditors have undertaken the
audits of government Ministries, Department and Agencies' (MDAs) accounting procedures and
financial statements by reviewing the legality of transactions made by the audited body to ascertain
the efficiency and effectiveness of government programmes. This article reviews auditor
independence literature and factors affecting independence in order to determine the effects of the
factors on independence. For audit independence's antecedents, intrinsic ethical concentration and
extrinsic stimulus outstandingly play important roles. To act not as a subordinate, the auditor will
take on all the attributes that an auditor is expected to have in conducting an audit, they must be
honest, hold integrity, be objective and take responsibility over their actions. Digital Sales Sell your
publications commission-free as single issues or ongoing subscriptions. Thirdly, the document is
intended to inform the work of diverse actors, who can promote additional research and publications
on the subject. The method employed for the research is a desk system of research design, in which
data were collected through secondary sources such as journals, books and internet materials.
Impairment of auditor's independence may impact negatively on audit quality. The concept of
independence is very important in enhancing the contributions of the audit profession to the
sustainable development of the overall economy and the issue has becoming a discourse of
academics, professional and regulators in developed and emerging economies, studies addressing the
issue in Ethiopian and other least developing countries audit market context are scantly available.
The professional code of conduct at international and local levels as well as the commercial codes
that govern the business and economic endeavors stated that professional accountants must be
competent and independent to undertake an audit and assurance services. To browse Academia.edu
and the wider internet faster and more securely, please take a few seconds to upgrade your browser.
We conclude that the mixed evidence, together with recent regulatory changes, provides
opportunities for future research on auditor independence and audit quality. The economy is really
faced with poor human developmental and economic indices as evidenced by high rate of perennial
and persistent inflation, low per capita income, poor income distribution, declining GDP and
sustained impoverishment of the citizenry with its attendant national and international image problem
(Ogbonna, 2011).
The professional code of conduct at international and local levels as well as the commercial codes
that govern the business and economic endeavors stated that professional accountants must be
competent and independent to undertake an audit and assurance services. This study investigated
accountability in the Nigerian Public Sector. Adobe Express Go from Adobe Express creation to
Issuu publication. For audit independence's antecedents, intrinsic ethical concentration and extrinsic
stimulus outstandingly play important roles. It's like a masterclass to be explored at your own pace.
These cookies will be stored in your browser only with your consent. Digital Sales Sell your
publications commission-free as single issues or ongoing subscriptions. The current momentum to
establish publicly owned companies in Ethiopia is also considered as the need for examining
auditors' independence. Social Posts Create on-brand social posts and Articles in minutes. Fullscreen
Sharing Deliver a distraction-free reading experience with a simple link. Studies on auditors'
independence and its effect of actual audit quality and users expectation gap are useful to inform
regulatory bodies and the accounting profession in devising ways to enhance auditors' independence
and the role in corporate governance. Add Links Send readers directly to specific items or pages with
shopping and web links. To browse Academia.edu and the wider internet faster and more securely,
please take a few seconds to upgrade your browser. Teams Enable groups of users to work together
to streamline your digital publishing. Based on the review, findings show that there is a strong
relationship between auditor independence and audit quality. It is not arguable that weak or lack of
auditors' independence impairers the quality of the audit profession and diminishes the public trust
on auditor's assurance. Measures like legislative committees, financial audit, ministerial control,
judicial reviews, anticorruption agencies, advisory committees, parliamentary questions and public
hearing to ensure accountability in the public sector as in developed countries were adopted yet no
tangible result has been achieved. But opting out of some of these cookies may affect your browsing
experience. An auditor must be watchful to any harmful impacts on his planning, investigation, or
reporting to preserve independence under the numerous pressures from clients. In this report,
literature review will be conducted to represent ideology and views of various authors on the
importance of the independence of the auditor. More Features Connections Canva Create
professional content with Canva, including presentations, catalogs, and more. This paper reviews
literature related to auditor independence and audit quality in order to determine the effect of the
former on the latter. You can download the paper by clicking the button above. The auditor’s
independence is a standard of auditing that is necessary as the assessor enhances his credibility as
well as justification to the financial declaration even at the time when there are not at all substantial
omissions or misstatements in the pecuniary declarations set by the organisation. Further, weaken
independence of external auditor is a serious challenge for the government bodies that make tax
liability assessment and regulatory duties on the basis of audited financial reports. Issuu turns PDFs
and other files into interactive flipbooks and engaging content for every channel. The results indicate
that audit independence has a positive relationship with audit quality and credibility, and audit
quality has a positive association with audit credibility. Also, it may assist policy makers and other
relevant international accounting agencies in their attempt towards the international harmonization of
auditing standards. The particular issues that are attached with the in internal audit process are
inadequate internal controls, inadequate risk management and poor governance within the
organisation ( Roy 2015). This literature review is conducted based on published articles during the
period 1976-2013 in nine leading journals related to auditing.
The audit expectation gap is defined as the difference between what the public expects from an audit
and what the audit profession accepts the audit objective to be. To browse Academia.edu and the
wider internet faster and more securely, please take a few seconds to upgrade your browser. This
article reviews auditor independence literature and factors affecting independence in order to
determine the effects of the factors on independence. Based on the review, findings show that there
is a strong relationship between auditor independence and audit quality. Since the onus of financial
statement preparation rest with the managers, the readiness for best stewardship accounting, a
precursor to audit quality, is expected from the managers. An auditor must be watchful to any
harmful impacts on his planning, investigation, or reporting to preserve independence under the
numerous pressures from clients. It thus extends the frontiers of knowledge on critical factors
affecting AI in a developing country context and has implications for theory, policy and practice.
Digital Sales Sell your publications commission-free as single issues or ongoing subscriptions. QR
Codes Generate QR Codes for your digital content. The economy is really faced with poor human
developmental and economic indices as evidenced by high rate of perennial and persistent inflation,
low per capita income, poor income distribution, declining GDP and sustained impoverishment of the
citizenry with its attendant national and international image problem (Ogbonna, 2011). The
accounting profession in Nigeria has been under pressure due to rising public expectation. How then
should the public sector auditor carryout his duties in such a manner that enables him to detect
opportunities for corruption as he may not be in position to quantify or report it. Source of data was
primary and were collected through structured questionnaire which was distributed to 100
management staff of the above organizations at random. This has been repeatedly mentioned as the
underpinning rational for examining the effectiveness of auditors' independence from different
perspectives. Download Free PDF View PDF See Full PDF Download PDF Loading Preview Sorry,
preview is currently unavailable. This article seeks to underscore the pivotal importance of auditing
and the function of audit impartiality in guaranteeing the dependability and credibility of financial
information utilized in credit and investment resolutions. It's like a masterclass to be explored at your
own pace. Adobe Express Go from Adobe Express creation to Issuu publication. Influences on the
independence of auditor both internal and external to the firm may impair auditors' independence.
Teams Enable groups of users to work together to streamline your digital publishing. A SAI needs
allies and partners, both on its independence journey and in the performance of its functions. The
audit expectation gap is critical to the auditing profession because the greater the unfulfilled
expectations from the public, the lower is the credibility, earnings potential and prestige associated
with the work of auditors(Lee et al., 2009). The essence of auditing and its expectation gap is facing
the problem of relevance in the world today. In this regard there is the Audit Committee support and
the public standards of accounting that gives management independence. However, there is no
publicly known corporate failure and audit scandal in Ethiopia, the possible lack of independence
may bring it into existence to hamper the ongoing private sector development and economic growth
that has See Full PDF Download PDF See Full PDF Download PDF Related Papers AUDITORS'
INDEPENDENCE AND AUDIT QUALITY IN NIGERIA Science and Education Development
Institute (SEDInst) Audit quality is expected to be enhanced if auditor's independence is assured.
Cross sectional field survey of the quasi-experimental research design was used in this study because
the survey relied on a sample of elements from the population of interest. Articles Get discovered by
sharing your best content as bite-sized articles. The literature review synthesizes the main
conceptions on SAI independence from academic publications as well as policy papers from
international organizations, bilateral donors, and civil society organizations. The potential financiers,
firm’s shareholders, agencies of different governing bodies, bankers and many others are troubled
and get affected by the company’s pecuniary assertions. Both theoretical and managerial
contributions are explicitly provided. Also necessary is the use of engagement letter as an appendix
to Audited Accounts to explain and create awareness to the users of Annual Accounts of what the
CAMA, 1990 requires the duties of auditors to be and what the auditors believes his legal duties
entail.