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Auditor independence : shared meaning between the demand and supply sides of the audit services market?

Wines, Graeme 2012, Auditor independence : shared meaning between the demand and supply sides of the audit services market?, Managerial auditing journal, vol. 27, no. 1, pp. 5-40.

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Title Auditor independence : shared meaning between the demand and supply sides of the audit services market?
Author(s) Wines, Graeme
Journal name Managerial auditing journal
Volume number 27
Issue number 1
Start page 5
End page 40
Total pages 36
Publisher Emerald Group Publishing
Place of publication Bingley, England
Publication date 2012
ISSN 0268-6902
1758-7735
Keyword(s) Auditor independence
Connotative meaning
Auditors
Financial reporting
Summary Purpose – The purpose of the paper is to examine the extent to which there is shared meaning of the concept of auditor independence between the three major groups of parties on the demand and supply sides of the audit services market – auditors, financial report preparers and financial report users.

Design/methodology/approach – The paper utilises the measurement of meaning framework (semantic differential analysis) originally proposed by Osgood et al. in 1957. The framework is used to investigate the extent to which there is shared meaning (agreement in interpretations) of the independence concept, in response to alternative audit engagement case contexts, between key parties to the financial reporting communication process. The study's research data was collected in the period March 2004-May 2005.

Findings – Findings indicate a robust and stable single-factor cognitive structure within which the research participants interpret the connotative meaning of the auditor independence concept. An analysis of the experimental cases finds similarities in connotations (interpretations) of an audit firm's independence for the participant groups for most cases, with the exception of cases involving the joint provision of audit and non-audit (taxation) services.

Research limitations/implications – The usual external validity threat that applies to experimental research generally applies to the study. That is, the results may not be generalisable to settings beyond those examined in the study. An important implication of the study is that it emphasises the continuing problematic nature of the joint provision of audit and non-audit services, even in situations where the non-audit services comprise only traditional taxation services.

Originality/value – The study is the first to examine the concept of auditor independence by means of the Osgood et al. measurement of meaning research framework using, as research participants, the three major groups on the demand and supply sides of the audit services market.
Notes Reproduced with the kind permission of the copyright owner.
Language eng
Field of Research 150102 Auditing and Accountability
Socio Economic Objective 900101 Finance Services
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2012, Emerald Group Publishing Limited
Free to Read? Yes
Persistent URL http://hdl.handle.net/10536/DRO/DU:30043099

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Created: Mon, 12 Mar 2012, 14:58:08 EST by Katrina Fleming

Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.