A selection of links and reading lists on the subject of auditor independence from the ICAEW Library & Information Service.
Online articles
The library provides access to a range of articles in full text from leading business, finance and management journals.
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Useful links
International Ethics Standards Board for Accountants
The IESBA develops ethical standards and guidance for use by professional accountants.
European Commission: Auditors' independence
The European Commission website includes the full text of Commission Recommendation 2002/590/EC - Statutory Auditors' Independence in the EU: A Set of Fundamental Principles which was published in May 2002.
Australia
Auditor independence
A collection of resources on auditor independence issues in Australia from the ICAA.
Archived Reports
HIH Royal Commission
Official website for the commission which presented its report on the failure of the HIH insurance group to Parliament on April 16th 2003. The report's policy recommendations cover a number of areas, including corporate governance and financial reporting, with a call for tighter audit regulation to ensure auditor independence.
Review of independent auditing by registered company auditors
Report published by the Joint Committee of Public Accounts and Audit on 18th September 2002 which made a number of recommendations on auditor independence, including a requirement for companies to report annually on independence issues.
Independence of Australian company auditors
The full text of the Ramsay Report from the Australian Treasury as published in March 2002.
Republic of Ireland
Archived reports
Report of the review group on auditing
Final report of the review group to the Minister for Enterprise, Trade and Employment as published in July 2000.
United Kingdom
Auditor independence
Information on the auditor independence requirements adopted by the ICAEW and topical issues relating to auditor independence.
Reviewing auditor independence (PDF 153.5kb/28 pages)
Publication from the Guidance for audit committees series issued by the ICAEW in May 2003.
Ethical standards
The Auditing Practices Board publishes ethical standards which cover the integrity, objectivity and independence for auditors.
Archived Reports
Final report of the co-ordinating group on audit and accounting issues
Final report to the Secretary of State for Trade and Industry and the Chancellor of the Exchequer as published by the DTI on 29 January 2003.
Mandatory rotation of audit firms
Report published by the ICAEW on 11 September 2002 the ICAEW.
Auditor independence and non-audit services: A literature review
Report published by the ICAEW on 11 September 2002 which provide useful lists of articles, reports and publications on auditor independence.
United States
AICPA Center for Audit Quality (CAQ): Ethics & independence
Resources and tools assembled by the Center for Audit Quality on the topic of ethics and independence.
AICPA Code of Professional Conduct
The full text of the Code of Professional Conduct of the American Institute of Certified Public Accountants (AICPA). Section 100 covers Independence, Integrity, and Objectivity.
Public Company Accounting Oversight Board
The PCAOB was created by the Sarbanes-Oxley Act of 2002 to oversee the auditors of public companies and publishes standards on auditor independence.
Auditor independence (SEC)
A collection of FAQs, regulations and statements on auditor independence from the Office of the Chief Accountant: Professional Practice at the US Securities and Exchange Commission.
Archived Reports
Final report of the Commission on public trust and private enterprise
The findings and recommendations of the Commission on public trust and private enterprise as published on 9 January 2003. The commission was established in the wake of corporate scandals to 'examine compensation, auditing, and governance issues facing corporate America'.
Required study on the potential effects of mandatory audit firm rotation - report (PDF 562kb/98 pages) of the US General Accounting Office (GAO) published in November 2003. The 'GAO believes that mandatory audit firm rotation may not be the most efficient way to strengthen auditor independence and improve audit quality ...'
See also
The Library & Information Service maintains a separate page on the Sarbanes-Oxley Act.
Articles and books in the Library collection
The collection of the ICAEW Library & Information Service includes a range of articles, books and reports on the subject of auditor independence and auditor rotation.
ICAEW
Auditor Independence
Audit Rotation