The Effects of mandatory audit firm rotation on client importance and audit industry concentration
Research investigating the effects of Mandatory Audit Rotation (MAR) on the structure of the audit market and client importance which looks at the question of whether prescribing MAR actually has the envisaged effects.
The role of the audit committee
Audit committees are an important tool for helping boards of trustees improve the quality of internal and independent audits and build confidence in the reliability of financial reports. Melissa Riner takes a look at the various roles audit committees have to play.
Audit tendering in the UK: a review of stakeholders' views
This study reports the results of a content analysis of the comment letters sent to the UK Financial Reporting Council (FRC) in response to its consultation document on the 2012 revisions of the UK Corporate Governance Code, concerning the proposal for mandatory audit tendering.
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.
ESCP Europe Final report
An in-depth study published in November 2011 on the effects of the implementation of the "acquis" on statutory audits of annual and consolidated accounts, including the consequences on the audit market.
Resources from CPA Australia including the Independence guide for auditors (4th ed. 2013) from the Joint Accounting Bodies (CPA Australia, Institute of Chartered Accountants Australia, Institute of Public Accountants). Covers fundamental principles, conceptual framework, examples of independence issues and special considerations.
Archived Australian 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 Republic of Ireland reports
Report of the review group on auditing
The final report of the review group to the Minister for Enterprise, Trade and Employment as published in July 2000.
The Auditing Practices Board publishes ethical standards which cover the integrity, objectivity and independence for auditors.
Competition Commission (CC) reports
All information relating to the CC's statutory audit services investigation can be found on their Statutory audit services market investigation page on GOV.UK.
The following pages have now been archived at the National Archives:
Information on the auditor independence requirements adopted by the ICAEW and topical issues relating to auditor independence.
Reviewing auditor independence
Publication from the Guidance for audit committees series issued by the ICAEW in May 2003.
Archived United Kingdom 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 in July 2002, reviewing the current requirements, research and publications. Please contact the Library to borrow a copy.
Auditor independence and non-audit services: A literature review
Report published by the ICAEW in September 2002, which provides useful lists of articles, reports and publications on auditor independence.
AICPA Center for Audit Quality (CAQ): Ethics & independence
Resources and tools assembled by the American Institute of CPAs on the topic of auditor 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 United States 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 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 ...'
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.
To find out how you can borrow books from the Library please see our guide to book loans.
You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.
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