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External auditors and corporate corruption: implications for external audit regulators
journal contributionposted on 2016-06-14, 14:12 authored by Rasha Kassem, Andrew Higson
The purpose of the current study is to examine the responsibility of external auditors in relation to corporate corruption and to highlight the implications of this for external audit regulators. The current study is based on a critical review of prior academic literature as well as a thorough examination of both the International and American Auditing Standards relating to fraud and illegal acts. External auditors have a responsibility for assessing corruption risks but their role was not clearly defined by external audit regulators. The current study was the first to clarify the responsibility of external auditors with regards to corporate corruption, and to shed light on current limitations in the audit standards related to this area. The current study also offers recommendations to audit regulators, external auditors, audit firms, and researchers on such controversial area.
- Business and Economics
Published inCurrent Issues in Auditing
CitationKASSEM, R. and HIGSON, A., 2016. External auditors and corporate corruption: implications for external audit regulators. Current Issues in Auditing, 10 (1) (June 2016), pp. P1-P10.
Publisher© American Accounting Association
- AM (Accepted Manuscript)
Publisher statementThis work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/
NotesThis article was published in Current Issues in Auditing [© American Accounting Association (AAA)].