ORPP logo
Image from Google Jackets

Quality Control Procedure for Statutory Financial Audit : An Empirical Study.

By: Contributor(s): Material type: TextTextPublisher: Bingley : Emerald Publishing Limited, 2017Copyright date: ©2017Edition: 1st edDescription: 1 online resource (337 pages)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781787142268
Subject(s): Genre/Form: Additional physical formats: Print version:: Quality Control Procedure for Statutory Financial AuditDDC classification:
  • 339.3
LOC classification:
  • HJ9701-9940
Online resources:
Contents:
Front Cover -- Quality Control Procedure for Statutory Financial Audit -- Copyright Page -- Contents -- Preface -- List of Tables -- List of Exhibits -- List of Chart -- List of Appendices -- List of Abbreviations -- List of Standard Measures/Symbols and Their Explanations -- Chapter 1 Introduction -- 1.1. Preamble -- 1.2. Research Problem -- 1.3. Research Questions -- 1.4. Review of Literature -- 1.5. Research Gap -- 1.6. Objectives -- 1.7. Research Methodology -- 1.7.1. Searching the Underlying Concept -- 1.7.2. Sample Design -- 1.7.3. Collection of Data -- 1.7.4. Analytical Tools for Interpretation and Conclusion -- 1.7.5. Demographic Profile of Respondents -- 1.8. The Scheme of Work -- Chapter 2 Quality of Statutory Audit of Financial Statements: A Conceptual Discussion -- 2.1. Introduction -- 2.2. Quality of Statutory Audit in Financial Statements: A Conceptual Overview -- 2.2.1. Factors of Audit Quality -- 2.2.1.1. Input Factors -- 2.2.1.2. Process Factors -- 2.2.1.3. Output Factors -- 2.2.2. Financial Reporting Supply Chain: Interactions among the Stakeholders -- 2.2.3. Contextual Factors of Audit Quality -- 2.3. Regulatory Framework Governing Audit Quality at the International Level -- 2.4. Indian Scenario -- 2.5. Conclusions -- Chapter 3 Quality Control Framework for Statutory Audit of Financial Statements in Select Countries: A Conceptual Review -- 3.1. Introduction -- 3.2. Review of Quality Control Framework in Select Countries Considering Select Parameters -- 3.2.1. Review of the Quality Control Framework in the United States of America (USA) -- 3.2.1.1. Parameter 1: Quality control policies of the accounting firm (based on Statement on Quality Control Standard (SQCS)-8) -- 3.2.1.2. Parameter 2: Audit policies and procedures of the engagement team.
Quality control policies of the engagement team (based on Statement of Auditing Standard (SAS)-122 (AU-C 220)) -- Overall objectives of an independent auditor (based on SAS-122 (AU-C 200)) -- Audit engagement (based on SAS-122 (AU-C 210)) -- Internal control system and role of internal auditors (based on SAS-128 (AU-C 610)) -- Audit planning (based on SAS-122 (AU-C 300)) -- Audit evidence (based on SAS-122 (AU-C 500)) -- Audit sampling (based on SAS-122 (AU-C 530)) -- External party confirmation (based on SAS-122 (AU-C 505)) -- Using the work of an expert (based on SAS-122 (AU-C 620)) -- Accounting estimates (based on SAS-122 (AU-C 540)) -- Audit documentation (based on SAS-122 (AU-C 230)) -- Audit report (based on SAS-122 (AU-C 700)) -- 3.2.1.3. Parameter 3: General issues governing quality of audit -- 3.2.2. Review of the Quality Control Framework in the United Kingdom (UK) -- 3.2.2.1. Parameter 1: Quality control policies of the accounting firm (based on International Standard on Quality Control (ISQC) (UK &amp -- Ireland)-1) -- 3.2.2.2. Parameter 2: Audit policies and procedures of the engagement team -- Quality control policies of the engagement team (based on International Standard on Auditing (ISA) (UK and Ireland)-220) -- Overall objectives of an independent auditor (based on ISA (UK &amp -- Ireland)-200) -- Audit engagement (based on ISA (UK &amp -- Ireland)-210) -- Internal control system and role of internal auditors (based on ISA (UK &amp -- Ireland)-610) -- Audit planning (based on ISA (UK &amp -- Ireland)-300) -- Audit evidence (based on ISA (UK &amp -- Ireland)-500) -- Audit sampling (based on ISA (UK &amp -- Ireland)-530) -- External party confirmation (based on ISA (UK &amp -- Ireland)-505) -- Using the work of an expert (based on ISA (UK &amp -- Ireland)-620) -- Accounting estimates (based on ISA (UK &amp -- Ireland)-540).
Audit documentation (based on ISA (UK &amp -- Ireland)-230) -- Audit report (based on ISA (UK &amp -- Ireland)-700) -- 3.2.2.3. Parameter 3: General issues governing the quality of audit -- 3.2.3. Review of the Quality Control Framework in India -- 3.2.3.1. Parameter 1: Quality control policies of the accounting firm (based on Standard on Quality Control (SQC)-1) -- 3.2.3.2. Parameter 2: Audit policies and procedures of the engagement team -- Quality control policies of the engagement team (based on Standard on Auditing (SA)-220) -- Overall objectives of an independent auditor (based on SA-200) -- Audit engagement (based on SA-210) -- Internal control system and role of internal auditors (based on SA-610) -- Audit planning (based on SA-300) -- Audit evidence (based on SA-500) -- Audit sampling (based on SA-530) -- External party confirmation (based on SA-505) -- Using the work of an expert (based on SA-620) -- Accounting estimates (based on SA-540) -- Audit documentation (based on SA-230) -- Audit report (based on SA-700) -- 3.2.3.3. Parameter 3: General issues governing quality of audit -- 3.3. Conclusions -- Chapter 4 Quality Control Framework for Statutory Audit in Select Countries: A Comparative Study -- 4.1. Introduction -- 4.2. Comparative Study of the Quality Control Framework among Select Countries -- 4.2.1. Quality Control Procedure at Firm Level -- 4.2.2. Quality Control Procedure at Engagement Level -- 4.2.3. Overall Objectives of an Independent Auditor -- 4.2.4. Audit Engagement -- 4.2.5. Use of the Work of Internal Auditors -- 4.2.6. Audit Planning -- 4.2.7. Audit Evidence -- 4.2.8. Audit Sampling -- 4.2.9. External Confirmations -- 4.2.10. Using the Work of an Expert -- 4.2.11. Auditing Accounting Estimates -- 4.2.12. Audit Documentation -- 4.2.13. Audit Report -- 4.2.14. General Issues Governing Quality of Audit.
4.2.14.1. Appointment Procedure of Statutory Auditor -- 4.2.14.2. Whistle Blower Policies -- 4.2.14.3. Continuous Professional Development for Statutory Auditors -- 4.2.14.4. Nonaudit Services of Statutory Auditors -- 4.2.14.5. Audit Inspection Mechanism -- 4.3. Conclusions -- Chapter 5 Respondents' Perceptions on Quality Control Procedure for Statutory Financial Audit: An Empirical Study -- 5.1. Introduction -- 5.2. Objectives of the Study -- 5.3. Selection of Variables -- 5.4. Results and Discussion -- 5.4.1. Reliability of Data -- 5.4.2. Objective 1: Analysing Opinions of CAs and Students on Each Variable under Select Parameters Using the Percentage of Respondents -- 5.4.2.1. Quality control for audit procedure -- Inferences -- 5.4.2.2. Overall objectives of an independent auditor -- Inferences -- 5.4.2.3. Audit engagement -- Inferences -- 5.4.2.4. Internal control system and internal auditors -- Inferences -- 5.4.2.5. Audit planning -- Inferences -- 5.4.2.6. Audit evidence -- Inferences -- 5.4.2.7. Audit sampling -- Inferences -- 5.4.2.8. External party confirmation -- Inferences -- 5.4.2.9. Using the work of an expert -- Inferences -- 5.4.2.10. Auditing accounting estimates -- Inferences -- 5.4.2.11. Audit documentation -- Inferences -- 5.4.2.12. Audit report -- Inferences -- 5.4.2.13. General issues governing the quality of audit -- Inferences -- 5.4.2.14. Quality control procedure for statutory financial audit -- Inferences -- 5.4.3. Objective 2: Examining Homogeneity of Opinions between CAs and Students Using the Chi-Square Test of Homogeneity -- 5.4.3.1. Quality control for audit procedure -- Inferences -- 5.4.3.2. Overall objectives of an independent auditor -- Inferences -- 5.4.3.3. Audit engagement -- Inferences -- 5.4.3.4. Internal control system and internal auditors -- Inferences -- 5.4.3.5. Audit planning -- Inferences.
5.4.3.6. Audit evidence -- Inferences -- 5.4.3.7. Audit sampling -- Inferences -- 5.4.3.8. External party confirmation -- Inferences -- 5.4.3.9. Using the work of an expert -- Inferences -- 5.4.3.10. Auditing accounting estimates -- Inferences -- 5.4.3.11. Audit documentation -- Inferences -- 5.4.3.12. Audit report -- Inferences -- 5.4.3.13. General issues governing quality of audit -- Inferences -- 5.4.3.14. Quality control procedure for statutory financial audit -- Inferences -- 5.4.4. Objective 3: Identifying the Importance Associated with Each Variable by Individual Respondent Groups Using Mean Score -- 5.4.4.1. Quality control for audit procedure -- 5.4.4.2. Overall objectives of an independent auditor -- 5.4.4.3. Audit engagement -- 5.4.4.4. Internal control system and internal auditors -- 5.4.4.5. Audit planning -- 5.4.4.6. Audit evidence -- 5.4.4.7. Audit sampling -- 5.4.4.8. External party confirmation -- 5.4.4.9. Using the work of an expert -- 5.4.4.10. Auditing accounting estimates -- 5.4.4.11. Audit documentation -- 5.4.4.12. Audit report -- 5.4.4.13. General issues governing quality of audit -- 5.4.4.14. Quality control procedure for statutory financial audit -- 5.4.5. Objective 4: Analysing the Significant Differences of Opinions between CAs and Students Using a Nonparametric Mann-Whitney Test -- 5.4.5.1. Quality control for audit procedure -- 5.4.5.2. Overall objectives of an independent auditor -- 5.4.5.3. Audit engagement -- 5.4.5.4. Internal control system and internal auditors -- 5.4.5.5. Audit planning -- 5.4.5.6. Audit evidence -- 5.4.5.7. Audit sampling -- 5.4.5.8. External party confirmation -- 5.4.5.9. Using the work of an expert -- 5.4.5.10. Auditing accounting estimates -- 5.4.5.11. Audit documentation -- 5.4.5.12. Audit report -- 5.4.5.13. General issues governing quality of audit.
5.4.5.14. Quality control procedure for statutory financial audit.
Summary: This new work takes a comprehensive look at the quality control framework for statutory financial audit. Saha and Roy focus on identifying the different factors governing quality of audit and establish a comprehensive framework for quality control.
Tags from this library: No tags from this library for this title. Log in to add tags.
Star ratings
    Average rating: 0.0 (0 votes)
No physical items for this record

Front Cover -- Quality Control Procedure for Statutory Financial Audit -- Copyright Page -- Contents -- Preface -- List of Tables -- List of Exhibits -- List of Chart -- List of Appendices -- List of Abbreviations -- List of Standard Measures/Symbols and Their Explanations -- Chapter 1 Introduction -- 1.1. Preamble -- 1.2. Research Problem -- 1.3. Research Questions -- 1.4. Review of Literature -- 1.5. Research Gap -- 1.6. Objectives -- 1.7. Research Methodology -- 1.7.1. Searching the Underlying Concept -- 1.7.2. Sample Design -- 1.7.3. Collection of Data -- 1.7.4. Analytical Tools for Interpretation and Conclusion -- 1.7.5. Demographic Profile of Respondents -- 1.8. The Scheme of Work -- Chapter 2 Quality of Statutory Audit of Financial Statements: A Conceptual Discussion -- 2.1. Introduction -- 2.2. Quality of Statutory Audit in Financial Statements: A Conceptual Overview -- 2.2.1. Factors of Audit Quality -- 2.2.1.1. Input Factors -- 2.2.1.2. Process Factors -- 2.2.1.3. Output Factors -- 2.2.2. Financial Reporting Supply Chain: Interactions among the Stakeholders -- 2.2.3. Contextual Factors of Audit Quality -- 2.3. Regulatory Framework Governing Audit Quality at the International Level -- 2.4. Indian Scenario -- 2.5. Conclusions -- Chapter 3 Quality Control Framework for Statutory Audit of Financial Statements in Select Countries: A Conceptual Review -- 3.1. Introduction -- 3.2. Review of Quality Control Framework in Select Countries Considering Select Parameters -- 3.2.1. Review of the Quality Control Framework in the United States of America (USA) -- 3.2.1.1. Parameter 1: Quality control policies of the accounting firm (based on Statement on Quality Control Standard (SQCS)-8) -- 3.2.1.2. Parameter 2: Audit policies and procedures of the engagement team.

Quality control policies of the engagement team (based on Statement of Auditing Standard (SAS)-122 (AU-C 220)) -- Overall objectives of an independent auditor (based on SAS-122 (AU-C 200)) -- Audit engagement (based on SAS-122 (AU-C 210)) -- Internal control system and role of internal auditors (based on SAS-128 (AU-C 610)) -- Audit planning (based on SAS-122 (AU-C 300)) -- Audit evidence (based on SAS-122 (AU-C 500)) -- Audit sampling (based on SAS-122 (AU-C 530)) -- External party confirmation (based on SAS-122 (AU-C 505)) -- Using the work of an expert (based on SAS-122 (AU-C 620)) -- Accounting estimates (based on SAS-122 (AU-C 540)) -- Audit documentation (based on SAS-122 (AU-C 230)) -- Audit report (based on SAS-122 (AU-C 700)) -- 3.2.1.3. Parameter 3: General issues governing quality of audit -- 3.2.2. Review of the Quality Control Framework in the United Kingdom (UK) -- 3.2.2.1. Parameter 1: Quality control policies of the accounting firm (based on International Standard on Quality Control (ISQC) (UK &amp -- Ireland)-1) -- 3.2.2.2. Parameter 2: Audit policies and procedures of the engagement team -- Quality control policies of the engagement team (based on International Standard on Auditing (ISA) (UK and Ireland)-220) -- Overall objectives of an independent auditor (based on ISA (UK &amp -- Ireland)-200) -- Audit engagement (based on ISA (UK &amp -- Ireland)-210) -- Internal control system and role of internal auditors (based on ISA (UK &amp -- Ireland)-610) -- Audit planning (based on ISA (UK &amp -- Ireland)-300) -- Audit evidence (based on ISA (UK &amp -- Ireland)-500) -- Audit sampling (based on ISA (UK &amp -- Ireland)-530) -- External party confirmation (based on ISA (UK &amp -- Ireland)-505) -- Using the work of an expert (based on ISA (UK &amp -- Ireland)-620) -- Accounting estimates (based on ISA (UK &amp -- Ireland)-540).

Audit documentation (based on ISA (UK &amp -- Ireland)-230) -- Audit report (based on ISA (UK &amp -- Ireland)-700) -- 3.2.2.3. Parameter 3: General issues governing the quality of audit -- 3.2.3. Review of the Quality Control Framework in India -- 3.2.3.1. Parameter 1: Quality control policies of the accounting firm (based on Standard on Quality Control (SQC)-1) -- 3.2.3.2. Parameter 2: Audit policies and procedures of the engagement team -- Quality control policies of the engagement team (based on Standard on Auditing (SA)-220) -- Overall objectives of an independent auditor (based on SA-200) -- Audit engagement (based on SA-210) -- Internal control system and role of internal auditors (based on SA-610) -- Audit planning (based on SA-300) -- Audit evidence (based on SA-500) -- Audit sampling (based on SA-530) -- External party confirmation (based on SA-505) -- Using the work of an expert (based on SA-620) -- Accounting estimates (based on SA-540) -- Audit documentation (based on SA-230) -- Audit report (based on SA-700) -- 3.2.3.3. Parameter 3: General issues governing quality of audit -- 3.3. Conclusions -- Chapter 4 Quality Control Framework for Statutory Audit in Select Countries: A Comparative Study -- 4.1. Introduction -- 4.2. Comparative Study of the Quality Control Framework among Select Countries -- 4.2.1. Quality Control Procedure at Firm Level -- 4.2.2. Quality Control Procedure at Engagement Level -- 4.2.3. Overall Objectives of an Independent Auditor -- 4.2.4. Audit Engagement -- 4.2.5. Use of the Work of Internal Auditors -- 4.2.6. Audit Planning -- 4.2.7. Audit Evidence -- 4.2.8. Audit Sampling -- 4.2.9. External Confirmations -- 4.2.10. Using the Work of an Expert -- 4.2.11. Auditing Accounting Estimates -- 4.2.12. Audit Documentation -- 4.2.13. Audit Report -- 4.2.14. General Issues Governing Quality of Audit.

4.2.14.1. Appointment Procedure of Statutory Auditor -- 4.2.14.2. Whistle Blower Policies -- 4.2.14.3. Continuous Professional Development for Statutory Auditors -- 4.2.14.4. Nonaudit Services of Statutory Auditors -- 4.2.14.5. Audit Inspection Mechanism -- 4.3. Conclusions -- Chapter 5 Respondents' Perceptions on Quality Control Procedure for Statutory Financial Audit: An Empirical Study -- 5.1. Introduction -- 5.2. Objectives of the Study -- 5.3. Selection of Variables -- 5.4. Results and Discussion -- 5.4.1. Reliability of Data -- 5.4.2. Objective 1: Analysing Opinions of CAs and Students on Each Variable under Select Parameters Using the Percentage of Respondents -- 5.4.2.1. Quality control for audit procedure -- Inferences -- 5.4.2.2. Overall objectives of an independent auditor -- Inferences -- 5.4.2.3. Audit engagement -- Inferences -- 5.4.2.4. Internal control system and internal auditors -- Inferences -- 5.4.2.5. Audit planning -- Inferences -- 5.4.2.6. Audit evidence -- Inferences -- 5.4.2.7. Audit sampling -- Inferences -- 5.4.2.8. External party confirmation -- Inferences -- 5.4.2.9. Using the work of an expert -- Inferences -- 5.4.2.10. Auditing accounting estimates -- Inferences -- 5.4.2.11. Audit documentation -- Inferences -- 5.4.2.12. Audit report -- Inferences -- 5.4.2.13. General issues governing the quality of audit -- Inferences -- 5.4.2.14. Quality control procedure for statutory financial audit -- Inferences -- 5.4.3. Objective 2: Examining Homogeneity of Opinions between CAs and Students Using the Chi-Square Test of Homogeneity -- 5.4.3.1. Quality control for audit procedure -- Inferences -- 5.4.3.2. Overall objectives of an independent auditor -- Inferences -- 5.4.3.3. Audit engagement -- Inferences -- 5.4.3.4. Internal control system and internal auditors -- Inferences -- 5.4.3.5. Audit planning -- Inferences.

5.4.3.6. Audit evidence -- Inferences -- 5.4.3.7. Audit sampling -- Inferences -- 5.4.3.8. External party confirmation -- Inferences -- 5.4.3.9. Using the work of an expert -- Inferences -- 5.4.3.10. Auditing accounting estimates -- Inferences -- 5.4.3.11. Audit documentation -- Inferences -- 5.4.3.12. Audit report -- Inferences -- 5.4.3.13. General issues governing quality of audit -- Inferences -- 5.4.3.14. Quality control procedure for statutory financial audit -- Inferences -- 5.4.4. Objective 3: Identifying the Importance Associated with Each Variable by Individual Respondent Groups Using Mean Score -- 5.4.4.1. Quality control for audit procedure -- 5.4.4.2. Overall objectives of an independent auditor -- 5.4.4.3. Audit engagement -- 5.4.4.4. Internal control system and internal auditors -- 5.4.4.5. Audit planning -- 5.4.4.6. Audit evidence -- 5.4.4.7. Audit sampling -- 5.4.4.8. External party confirmation -- 5.4.4.9. Using the work of an expert -- 5.4.4.10. Auditing accounting estimates -- 5.4.4.11. Audit documentation -- 5.4.4.12. Audit report -- 5.4.4.13. General issues governing quality of audit -- 5.4.4.14. Quality control procedure for statutory financial audit -- 5.4.5. Objective 4: Analysing the Significant Differences of Opinions between CAs and Students Using a Nonparametric Mann-Whitney Test -- 5.4.5.1. Quality control for audit procedure -- 5.4.5.2. Overall objectives of an independent auditor -- 5.4.5.3. Audit engagement -- 5.4.5.4. Internal control system and internal auditors -- 5.4.5.5. Audit planning -- 5.4.5.6. Audit evidence -- 5.4.5.7. Audit sampling -- 5.4.5.8. External party confirmation -- 5.4.5.9. Using the work of an expert -- 5.4.5.10. Auditing accounting estimates -- 5.4.5.11. Audit documentation -- 5.4.5.12. Audit report -- 5.4.5.13. General issues governing quality of audit.

5.4.5.14. Quality control procedure for statutory financial audit.

This new work takes a comprehensive look at the quality control framework for statutory financial audit. Saha and Roy focus on identifying the different factors governing quality of audit and establish a comprehensive framework for quality control.

Description based on publisher supplied metadata and other sources.

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

There are no comments on this title.

to post a comment.

© 2024 Resource Centre. All rights reserved.