Audit Quality: A Synthesis of Theory and Empirical Evidence  

Oleh:

Watkins, Ann L. ; Hillison, William ; Morecroft, Susan E.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Journal of Accounting Literature vol. 2004 no. 23 (2004), page 153-193.
Topik: Accounting
Fulltext: JAL 04 23 153.pdf (3.17MB)

Isi artikel

This paper reviews and evaluates the theory and empirical research on audit quality. Such a consideration is warranted and necessary to take stock of the large body of audit quality literature and assess the current understanding of the concept. Gaps in our knowledge and understanding can then be identified and suggestions can be provided as to how to fill those gaps. We develop a theoretical framework that treats audit quality as a construct with multiple, interrelated dimensions and which constitutes a well-defined space for locating existing research and future hypothesis formation. We focus primarily on empirical papers that explicitly investigate audit quality as it relates to financial reporting. Therefore, our review does not include audit quality research relating to compliance or operational auditing. The remainder of the paper is organized as follows. Section two develops a framework that identifies the dimensions of audit quality based on our review of the literature. Theoretical arguments found in the audit quality literature coupled with this framework facilitate the construction of a research taxonomy. Section three uses this taxonomy to situate and critique key empirical audit quality papers. Although suggestions for future research are provided throughout the paper, section four identifies additional possibilities for future audit quality research in light of our review and more recent regulatory concerns. Overall conclusions are provided in section five.

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