This article comments on the Accounting and Auditing Law of the Republic of Georgia.The Georgian law “On Accounting and Auditing of Financial Reporting” was signed into law in 2012. Some of its provisions became effective immediately, while others became effective in January 1, 2013. The law...

For the study of entrepreneurship, a cornerstone of modern competitive economy, perhaps there is no liberal profession better suited to be analysed than the financial audit. The financial auditor is meant to be an entrepreneur, to take his destiny into his own hands, because, in order to be...

The main role of the external auditor in the classical corporate governance scheme is to verify the accounting information provided by the firms’ managers. Lengthy audit engagements are viewed as a main threat to preserve auditor independence, and therefore regulators have established...

This study analyses the impact of audit committee independence on auditor dismissal decisions and the successor auditor choice. We pay special attention to those changes that take place after firms receive a qualified audit report. These changes may be considered the observable consequence of...

In an attempt to improve the quality of political and democratic processes, governmental organizations could decide to introduce performance auditing. However, earlier studies suggest that performance auditing can actually damage the quality of these processes, especially when it leads to...

The historical development and size of China's audit market provides an opportunity to investigate important questions regarding the functioning of the market for audit services that are difficult, if not impossible, to test in other globally established markets. The purpose of this study is to...

The historical development and size of China's audit market provides an opportunity to investigate important questions regarding the functioning of the market for audit services that are difficult, if not impossible, to test in other globally established markets. The purpose of this study is to...

Ever since the major corporate collapses of Enron in the United States and HIH Insurance in Australia, the public accounting profession has come under global scrutiny. Both collapses had one thing in common, the auditor firm, Arthur Anderson. Many lessons were learned from these failures which...

The overall complexity and estimation uncertainty inherent in financial statements have increased in recent decades; however, the related reports and services have changed very little, including the format of the balance sheet and income statement, the content in the auditor's report, and the...