International Journal of Finance & Managerial Accounting

International Journal of Finance & Managerial Accounting

Audit Quality in Practice: A Study of Perceptions of Auditors, Audit Committee Members and Quality Inspectors

Document Type : Review paper

Authors
sanaz hadji 1
Khosro Faghani Makrani 2
Naghi Fazeli 3
1 Ph.D. Student, Department of Accounting, Semnan Branch, Islamic Azad University, Semnan, Iran
2 Associate Professor, Department of Accounting, Semnan Branch, Islamic Azad University, Semnan, Iran
3 Assistant Professor, Department of Accounting, Semnan Branch, Islamic Azad University, Semnan, Iran
10.30495/ijfma.2024.77768.2143
Abstract
Research Objective: To design a pragmatic or action-oriented model of audit quality based on the model of the Financial Reporting Council of England from the perspective of audit committee members, quality control reviewers, and auditors. Due to the lack of a specific and coherent basis in this regard, the content analysis structure process was used to identify the dimensions of the issue.
Research Method: The target population included interviews with 30 experts and the completion of 100 questionnaires by members of the above three groups during the years 2019 to 2022. For content analysis, in the first three preliminary stages, content evaluation, title and analysis were performed to determine the extent of similar research in the time frame of 2018 to 2021. 12 approved studies were fitted through 10 critical appraisal criteria.
Findings: 6 overarching themes, individual functions in auditing, effective functions in auditing, partner in auditing, reporting in auditing, culture in auditing, and institutional functions in auditing were identified as the main bases of audit quality based on the Financial Reporting Council model.
Conclusion: Based on the interpretive ranking analysis, the individual functions in auditing, including 5 organizing themes of auditor personality, auditing knowledge, auditor competence, auditor experience, and auditing commitment, were determined as the most influential criteria of pragmatic quality in the auditing profession from the perspective of the above three groups.
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