Transparency report disclosure by Australian audit firms and opportunities for research

Fu, Y, Carson, E and Simnett, Roger 2015, Transparency report disclosure by Australian audit firms and opportunities for research, Managerial Auditing Journal, vol. 30, no. 8-9, pp. 870-910, doi: 10.1108/MAJ-06-2015-1201.

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Title Transparency report disclosure by Australian audit firms and opportunities for research
Author(s) Fu, Y
Carson, E
Simnett, Roger
Journal name Managerial Auditing Journal
Volume number 30
Issue number 8-9
Start page 870
End page 910
Total pages 41
Publisher Emerald Group Publishing
Place of publication Bingley, Eng.
Publication date 2015
ISSN 0268-6902
1758-7735
Keyword(s) Social Sciences
Business, Finance
Management
Business & Economics
Audit quality
Audit firm
Research opportunities
Transparency report
CORPORATE GOVERNANCE
Summary Purpose – The purpose of this study is to compare the information disclosed by leading Australian audit firms in their first-time audit firm transparency reports. Australia has mandated the preparation and release of transparency reports by audit firms in 2013 to provide better information to stakeholders about audit firms, their governance and their internal governance systems. These reports promote increased transparency regarding issues which are believed to contribute to audit quality. Design/methodology/approach – The paper takes the form of an archival analysis where the authors summarise the governance and other information for the 21 leading Australian audit firms as disclosed in their first-time 2013 transparency reports. Findings – The authors find that audit firms meet the minimum transparency report disclosure requirements, but have different approaches to governance in the areas which may impact audit quality. These areas include: the internal quality control systems, independence practices, continuing education and partners’ remuneration structures. The authors identify specific areas where transparency reports may give rise to future research opportunities. Originality/value – Australia is one of the first countries to require audit firms to publish transparency reports, and this is the first study to examine these reports. By summarising transparency report disclosures, we present a comprehensive picture of how Australian leading audit firms govern and oversee their business activities. This is useful to transparency report preparers, report users and regulators.
Language eng
DOI 10.1108/MAJ-06-2015-1201
Indigenous content off
Field of Research 1501 Accounting, Auditing and Accountability
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Persistent URL http://hdl.handle.net/10536/DRO/DU:30150628

Document type: Journal Article
Collections: Faculty of Business and Law
Department of Accounting
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