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Scientific paper - Other
A Report on the Insights on Audit Quality Topic
In: Economic and Social Development: Book of Proceedings. Dubai: Varazdin Development and Entrepreneurship Agency and Herriot-Watt University, 2022. pp. 339-345. urn:nbn:hr:124:167268
Aljinović Barać, Željana; Šodan, Slavko; Vuko, Tina

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Aljinović Barać, Ž., Šodan, S. & Vuko, T. (2022). A Report on the Insights on Audit Quality Topic. Economic and Social Development: Book of Proceedings (pp. 339-345). Dubai: Varazdin Development and Entrepreneurship Agency and Herriot-Watt University. Retrieved from https://urn.nsk.hr/urn:nbn:hr:124:167268

Aljinović Barać, Željana, et al. "A Report on the Insights on Audit Quality Topic." Economic and Social Development: Book of Proceedings, Varazdin Development and Entrepreneurship Agency and Herriot-Watt University, 2022, pp. 339-345. https://urn.nsk.hr/urn:nbn:hr:124:167268

Aljinović Barać, Željana, Slavko Šodan and Tina Vuko. "A Report on the Insights on Audit Quality Topic." In Economic and Social Development: Book of Proceedings, 339-345. Dubai: Varazdin Development and Entrepreneurship Agency and Herriot-Watt University, 2022. Accessed 2024 April 29. https://urn.nsk.hr/urn:nbn:hr:124:167268

Aljinović Barać, Ž., Šodan, S. and Vuko, T. (2022) 'A Report on the Insights on Audit Quality Topic', Economic and Social Development: Book of Proceedings, Varazdin Development and Entrepreneurship Agency and Herriot-Watt University, Dubai, pp. 339-345. Available at: https://urn.nsk.hr/urn:nbn:hr:124:167268 (Accessed 29 April 2024)

Aljinović Barać Ž, Šodan S, Vuko T. A Report on the Insights on Audit Quality Topic. Economic and Social Development: Book of Proceedings. Dubai: Varazdin Development and Entrepreneurship Agency and Herriot-Watt University; 2022. Pp. 339-345. [cited 2024 April 29] Available at: https://urn.nsk.hr/urn:nbn:hr:124:167268

Ž. Aljinović Barać, S. Šodan and T. Vuko, "A Report on the Insights on Audit Quality Topic", Economic and Social Development: Book of Proceedings Dubai: Varazdin Development and Entrepreneurship Agency and Herriot-Watt University, 2022. [Online] Available at: https://urn.nsk.hr/urn:nbn:hr:124:167268 [Accessed: 29 April 2024]

Metadata
Title (english)A Report on the Insights on Audit Quality Topic
AuthorŽeljana Aljinović Barać
AuthorSlavko Šodan
AuthorTina Vuko
Author's institutionUniversity of Split
Faculty of economics Split
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Accounting
Abstract (english)
This paper provides theoretical background and literature review on the audit quality (AQ), dealing with the questions of AQ definition and measurement, and whether Big 4 auditors provide higher AQ than non-Big 4 auditors. Accounting standards require a high-quality financial reporting system to provide decision-useful information that is relevant, and faithfully represents underlying economic reality of the firm's activities and its financial condition. Both academics and practitioners agree that an essential feature of the financial reporting process is financial reporting quality (FRQ), but still there is no consensus on its definition and meaning. FRQ is commonly described as a function of AQ, the quality of the firm's financial reporting system which maps its underlying economics into financial reports, and its innate characteristics which determine its underlying economics. However, there is also no consensus on definition and measurement of AQ because the amount of assurance provided by auditors is unobservable. The contribution of this paper is the review of the most relevant AQ measures and discussion on their advantages and disadvantages. Although most of the previous research deals with the output-based proxies on the auditor supply side, recently, the focus has turned to input-based proxies on the client demand side, such as audit fees and auditor size. Thus, this paper additionally deals with homogeneity of audit quality across audit firms, i.e., reconsidering whether large audit firms deliver higher audit quality, as signalled by their reputation and by the "deep-pockets" hypothesis. However, the arguments why smaller audit firms could provide comparable audit quality will be debated, and strengths and weaknesses when engaging Big N or non-big N auditors will be listed.
Keywords (english)
Languageenglish
Publication typeScientific paper - Other
Publication statusPublished
Peer reviewPeer review - international
Publication versionPublished version
Publication titleEconomic and Social Development: Book of Proceedings
Numberingpp. 339-345
p-ISSN1849-7535
URN:NBNurn:nbn:hr:124:167268
Publication2022-10-20
ProjectNumber: IP-2020-02-9372
Title (croatian): Raščlamba determinanti kvalitete financijskog izvještavanja
Title (english): Disentangling Financial Reporting Quality
Acronym: DISFRQ
Leader: Željana Aljinović Barać
Jurisdiction: Croatia
Funding stream: IP
ConferenceTitle: 88th International Scientific Conference on Economic and Social Development - "Roadmap to NetZero Economies and Businesses"
Location: Dubai, United Arab Emirates
Start date: 2022-10-19
End date: 2022-10-20
Assembly type: Lecture
Type of resourceText
PublisherVarazdin Development and Entrepreneurship Agency and Herriot-Watt University
Publishing placeDubai
Access conditionsOpen access
Terms of useLicence In copyright icon
Created on2023-07-10 13:34:35