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Audit regulation: a partial solution expanded

Research output: Contribution to journalJournal article

Published

Standard

Audit regulation : a partial solution expanded. / Beattie, Vivien; Brandt, Richard; Fearnley, Stella.

In: Journal of Financial Regulation and Compliance, Vol. 7, No. 1, 1999, p. 31-47.

Research output: Contribution to journalJournal article

Harvard

Beattie, V, Brandt, R & Fearnley, S 1999, 'Audit regulation: a partial solution expanded', Journal of Financial Regulation and Compliance, vol. 7, no. 1, pp. 31-47. https://doi.org/10.1108/eb024995

APA

Beattie, V., Brandt, R., & Fearnley, S. (1999). Audit regulation: a partial solution expanded. Journal of Financial Regulation and Compliance, 7(1), 31-47. https://doi.org/10.1108/eb024995

Vancouver

Beattie V, Brandt R, Fearnley S. Audit regulation: a partial solution expanded. Journal of Financial Regulation and Compliance. 1999;7(1):31-47. https://doi.org/10.1108/eb024995

Author

Beattie, Vivien ; Brandt, Richard ; Fearnley, Stella. / Audit regulation : a partial solution expanded. In: Journal of Financial Regulation and Compliance. 1999 ; Vol. 7, No. 1. pp. 31-47.

Bibtex

@article{e357602f2c5f44958cc80dad6fdfdf9d,
title = "Audit regulation: a partial solution expanded",
abstract = "The Department of Trade and Industry (DTI) issued a consultation document in November 1998, which set out a framework for the independent regulation of the accountancy profession. This framework broadly adopts the proposals put forward by the profession itself. In this paper, the focus is on audit regulation. The current regime is outlined and its structural weaknesses and procedural problems identified. The proposed reforms are described and critically evaluated. It is argued that the proposed reforms offer only a partial solution to regulatory concerns, since no changes are proposed to the existing regime either for registration, or for monitoring and discipline of the majority of audit cases. An expanded framework that rationalises current practices and provides a more comprehensive solution is suggested. A critical feature of the proposal is that a distinction is made between audits of small entities and audits of major listed companies, only the latter of which are of public interest. Each would have distinct licensing and monitoring procedures.",
author = "Vivien Beattie and Richard Brandt and Stella Fearnley",
year = "1999",
doi = "10.1108/eb024995",
language = "English",
volume = "7",
pages = "31--47",
journal = "Journal of Financial Regulation and Compliance",
issn = "1358-1988",
publisher = "Emerald Group Publishing Ltd.",
number = "1",

}

RIS

TY - JOUR

T1 - Audit regulation

T2 - a partial solution expanded

AU - Beattie, Vivien

AU - Brandt, Richard

AU - Fearnley, Stella

PY - 1999

Y1 - 1999

N2 - The Department of Trade and Industry (DTI) issued a consultation document in November 1998, which set out a framework for the independent regulation of the accountancy profession. This framework broadly adopts the proposals put forward by the profession itself. In this paper, the focus is on audit regulation. The current regime is outlined and its structural weaknesses and procedural problems identified. The proposed reforms are described and critically evaluated. It is argued that the proposed reforms offer only a partial solution to regulatory concerns, since no changes are proposed to the existing regime either for registration, or for monitoring and discipline of the majority of audit cases. An expanded framework that rationalises current practices and provides a more comprehensive solution is suggested. A critical feature of the proposal is that a distinction is made between audits of small entities and audits of major listed companies, only the latter of which are of public interest. Each would have distinct licensing and monitoring procedures.

AB - The Department of Trade and Industry (DTI) issued a consultation document in November 1998, which set out a framework for the independent regulation of the accountancy profession. This framework broadly adopts the proposals put forward by the profession itself. In this paper, the focus is on audit regulation. The current regime is outlined and its structural weaknesses and procedural problems identified. The proposed reforms are described and critically evaluated. It is argued that the proposed reforms offer only a partial solution to regulatory concerns, since no changes are proposed to the existing regime either for registration, or for monitoring and discipline of the majority of audit cases. An expanded framework that rationalises current practices and provides a more comprehensive solution is suggested. A critical feature of the proposal is that a distinction is made between audits of small entities and audits of major listed companies, only the latter of which are of public interest. Each would have distinct licensing and monitoring procedures.

U2 - 10.1108/eb024995

DO - 10.1108/eb024995

M3 - Journal article

VL - 7

SP - 31

EP - 47

JO - Journal of Financial Regulation and Compliance

JF - Journal of Financial Regulation and Compliance

SN - 1358-1988

IS - 1

ER -