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Auditor independence: a review of literature

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  • Emmanuel Austin
  • Siriyama Kanthi Herath

Abstract

Independence is one of the most important attributes of the accounting profession. The auditor independence is measured by how honest an auditor is in reporting the material misstatements found in the financial statements by managers. The auditor maintains his/her independence by not having any conflicts of interest with the client (managers). The auditor is encouraged to appear independent in the sight of investors, but only to the extent that the audit fees cover the cost of the actual audit. This research is expected to serve as a guide in understanding the importance of auditor independence and the challenges auditors face. The major purpose of this research is to survey the auditor independence related research literature published during the period from 1992 to 2010. This survey suggests that a wide range of topic areas has been discussed and this learning can be incorporated in revising auditor independence related curricula.

Suggested Citation

  • Emmanuel Austin & Siriyama Kanthi Herath, 2014. "Auditor independence: a review of literature," International Journal of Economics and Accounting, Inderscience Enterprises Ltd, vol. 5(1), pages 62-74.
    • Handle: RePEc:ids:ijecac:v:5:y:2014:i:1:p:62-74
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    Cited by:

    1. Andreea Claudia CRUCEAN, 2020. "A Literature Review on the Auditor’s Independence Between Threats and Safeguards," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 1(7), pages 64-72, July.

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