The Ramsay Report and the Regulation of Auditor Independence in Australia

Hayes, Colleen

doi:10.1111/j.1835-2561.2002.tb00198.x

Cited by 8 publications

(8 citation statements)

References 4 publications

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“…The resulting Ramsay (2001) report made a raft of recommendations on auditor independence (Minister for Financial Services and Regulation, 2001;Hayes, 2002;Lansley et al, 2002;Costello, 2003). In September 2002, the Australian Federal Parliament's Joint Committee on Public Accounts and Audit (JCPAA) departed from tradition in its report entitled Review of Independent Auditing by Registered Company Auditors, making recommendations pertaining to the private sector.…”

Section: Legislator and Regulator Reactionsmentioning

confidence: 96%

“…38, Nos. 1 and 2), research journal papers by Dean et al (2001), Sarre et al (2001), Culvenor et al (2002), Hayes (2002), and Amernic andCraig (2004), andO'Connell's (2004) guest editorship of a special issue of Critical Perspectives on Accounting on Enron. Occasional other Australian researchers' references have taken the form of brief asides, as part of their introduction to another subject (e.g.…”

Section: Academics' Public Interest Attentionmentioning

confidence: 97%

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Corporate governance crisis down under: Post-Enron accounting education and research inertia

Parker

2005

European Accounting Review

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Australian and New Zealand accounting academic responses to corporate governance and reporting failures is a story not simply told in the context of high profile international corporate failures such as Enron and WorldCom. This study notes a sequence of major Australian corporate failures that predate Enron and WorldCom. Through research into professional, business and research literature, profession and governmental/regulatory websites, and interviews with senior accounting academics across Australia and New Zealand, it also highlights a tale of limited response by Australian and New Zealand accounting academics and investigates the manifest and latent drivers of this inertia. The corporatisation and commercialisation of universities and related governance processes emerge as root causes of accounting academics' general failure to address recent major breakdowns in corporate governance and reporting in the business world. The paper closes by reviewing opportunities for change in an otherwise embattled environment.Corporate failures, accounting education, corporate governance, accounting academics, teaching, curricula,

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Section: Legislator and Regulator Reactionsmentioning

confidence: 96%

Section: Academics' Public Interest Attentionmentioning

confidence: 97%

Corporate governance crisis down under: Post-Enron accounting education and research inertia

Parker

2005

European Accounting Review

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“…Ramsay (2001) included a number of recommendations related to improving corporate governance, including mandating the existence of qualified audit committees on boards of directors, specifying the composition of audit committees, and specifying the duties and responsibilities of the audit committee. Some, but not all, recommendations made by Ramsay were adopted in the IFAC Code of Ethics for Professional Accountants released in November 2001 (Hayes 2002, IFAC 2001. For the base-level model we assume a for belief value of 0.40 a s input for each of the Integrity, No Incentive and No Opportunity variables.…”

Section: Base-level Modelmentioning

confidence: 99%

A Formal Model of Auditor Independence Risk

Turner

Mock

Srivastava

2002

Australian Accounting Review

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Abstract:Although the published literature on auditor independence is extensive, an accepted comprehensive theory, framework or model of auditor independence risk does not exist. This paper develops a formal model of auditor independence risk that may be used to begin a more rigorous investigation of auditor independence and various factors that are thought to affect this risk. The sensitivity of the model to various influences on independence risk is assessed by developing a base-level model and then modifying the assumptions for that model. Three research questions are investigated: what is the impact on independence risk of a lack of auditor integrity, the influence of professional standards, and the combined impact of opportunity and incentives. Overall, analytical results show that integrity is the key variable in minimizing independence risk. In addition, in cases where integrity could be questioned, independence risk is positively impacted by professional standards that are perceived to be effective and potentially negatively impacted by certain client characteristics and auditor incentives. Overall, analytical results show that integrity is the key variable in minimizing independence risk.In addition, in cases where integrity could be questioned, independence risk is positively impacted by professional standards that are perceived to be effective and potentially negatively impacted by certain client characteristics and auditor incentives.

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“…Accounting practitioners and their services cannot be separated from the related regulations since the profession directly affects public interest [21]; [22]; [23]. New accounting regulation is inevitable as the necessity to change has taken place since the advent of the profession.…”

Section: B the Regulatory Changesmentioning

confidence: 99%

The Developments on Audit Quality in Indonesia, The Qualitative Analysis on the Practitioners' Expectations

Tyasari¹

2018

Proceedings of Social Sciences, Humanities and Economics Conference (SoSHEC 2017)

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Indonesia has a continuous concerned on its audit quality (AQ) since the impact of global changes on the country's accounting profession. The data was obtained from face-to-face interviews with practitioners which have given the notion on how far Indonesia has already gone to enhance its AQ. Review of documentary material which was obtained from on the official websites of parties and observation of routine activities of the participants also involved in this study. The discussion of the developments focused on the way to implement AQ conducted by each participant. Institutional analysis was derived directly from data obtained. The findings explained regulators' roles have created significant efforts to the development on audit quality. In addition, it also shows the implementation of AQ conducted by practitioners in their audit firm. Therefore, those created the expectation of most of practitioners to obtain monetary and nonmonetary value-added impact significantly because of the regulatory efforts. This paper is a contribution to the literature on the subject of AQ by providing the insights into how Indonesia as an emerging country responded to the global demands on AQ improvements and the expectation of the practitioners regarding to the changes.

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The Ramsay Report and the Regulation of Auditor Independence in Australia

Cited by 8 publications

References 4 publications

Corporate governance crisis down under: Post-Enron accounting education and research inertia

Corporate governance crisis down under: Post-Enron accounting education and research inertia

A Formal Model of Auditor Independence Risk

The Developments on Audit Quality in Indonesia, The Qualitative Analysis on the Practitioners' Expectations

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