Audit Quality Indicators: A Status Update on Possible Public Disclosures and Insights from Audit Practice

This paper addresses the current status of the recommendation by the Advisory Committee on the Auditing Profession (ACAP) that auditing firms provide periodic reporting on audit quality indicators. We first consider several reasons why public reporting of audit quality indicators in the U.S. is high...

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Bibliographic Details
Published inCurrent issues in auditing Vol. 4; no. 1; pp. C12 - C19
Main Authors Bedard, Jean C., Johnstone, Karla M., Smith, Edward F.
Format Journal Article
LanguageEnglish
Published Sarasota American Accounting Association 01.06.2010
Subjects
Accounting firms
Audit engagements
Audit quality
Auditing
Auditing profession
Audits
Debates
Disclosure
Inspections
Professionals
Proposals
Quality
Webcasting
United States > US
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Summary:This paper addresses the current status of the recommendation by the Advisory Committee on the Auditing Profession (ACAP) that auditing firms provide periodic reporting on audit quality indicators. We first consider several reasons why public reporting of audit quality indicators in the U.S. is highly controversial. We then report some information on how global network auditing firms are internally measuring audit quality in the post-Sarbanes-Oxley environment.
ISSN:1936-1270
1936-1270
DOI:10.2308/ciia.2010.4.1.C12