Leaver, A. orcid.org/0000-0001-6199-6057, Seabrooke, L., Stausholm, S. et al. (1 more author) (2020) Auditing with accountability : shrinking the opportunity spaces for audit failure. Report. University of Sheffield and the Copenhagen Business School
Abstract
In recent years a number of high-profile company failures have raised fundamental questions about the willingness and/or ability of auditors to exercise the professional scepticism necessary for the production of robust audits.
This report, co-written by Adam Leaver at the University of Sheffield and Leonard Seabrooke, Saila Stausholm and Duncan Wigan at Copenhagen Business School, examines the causes of those failures and makes a series of recommendations on how to resolve them.
The report argues that audit failure takes place within a particular configuration of economic, cultural and regulatory arrangements which create the 'opportunity spaces' for poor practice. Shrinking those opportunity spaces therefore requires a multi-dimensional response, including the structural separation of audit and non-audit functions, a more robust system of fines and the integration of a civil society voice into the reform process to prevent regulatory capture.
Metadata
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Copyright, Publisher and Additional Information: | © 2020 The Author(s). For re-use permissions, please contact the Author(s). | ||||
Keywords: | Audit Failure; Audit Reform; Accounting Reform; Corporate Collapse; Accountability | ||||
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Institution: | The University of Sheffield | ||||
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) | ||||
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Depositing User: | Symplectic Sheffield | ||||
Date Deposited: | 13 Jul 2020 08:20 | ||||
Last Modified: | 13 Jul 2020 08:58 | ||||
Published Version: | https://www.sheffield.ac.uk/crafic/auditing-with-a... | ||||
Status: | Published | ||||
Publisher: | University of Sheffield and the Copenhagen Business School |