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Review of Post-CLERP 9 Australian auditor independence research

Carey,PJ, Monroe,GS and Shailer,G 2014, Review of Post-CLERP 9 Australian auditor independence research, Australian accounting review, vol. 24, no. 4, pp. 370-380, doi: 10.1111/auar.12047.

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Title Review of Post-CLERP 9 Australian auditor independence research
Author(s) Carey,PJ
Monroe,GS
Shailer,G
Journal name Australian accounting review
Volume number 24
Issue number 4
Start page 370
End page 380
Total pages 11
Publisher Wiley
Place of publication London, Eng.
Publication date 2014-12
ISSN 1035-6908
Keyword(s) Social Sciences
Business, Finance
Business & Economics
PARTNER TENURE
QUALITY ATTRIBUTES
PERCEPTIONS
Summary The Corporate Law Economic Reform Program (Audit Reform & Corporate Disclosure) Act 2004 (CLERP 9) added substantial new provisions pertaining to auditor independence, and followed in the wake of financial reporting scandals during 2000 to 2003. Many of the regulatory changes were framed in the earlier Ramsay Report, which drew on independence concerns raised in the academic literature. This review paper reviews Australian academic research investigating auditor independence, framed by our conceptual understanding of auditor independence, to assess what we have learned about the impact of CLERP 9 on auditor independence. Our review of Australian auditor independence research published post-CLERP 9 reveals little evidence of the impact of the regulatory changes on auditor behaviour (independence in fact) and perceptions (independence in appearance). We conclude there are substantial needs for further research on the impact of the CLERP 9 amendments on auditor independence and any enduring independence issues. We identify particular areas for future research that may better inform policy development and argue that the prospect of high-quality relevant research will increase if regulatory agencies, the accounting profession and audit practitioners engage more with academics in the research process. We identify several ways in which this might occur.
Language eng
DOI 10.1111/auar.12047
Field of Research 150102 Auditing and Accountability
Socio Economic Objective 970115 Expanding Knowledge in Commerce
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Persistent URL http://hdl.handle.net/10536/DRO/DU:30069208

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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