ICAEW.com works better with JavaScript enabled.

Auditor independence

A selection of links and reading lists on the subject of auditor independence from the ICAEW Library & Information Service.

What's on this page?

  • Online articles
  • Useful links - standards, guidance, reports
  • Books and articles from the Library

Contact the Library

Expert help for your enquiries and research.

E  library@icaew.com

T  +44 (0)20 7920 8620

Featured article

Economia Debate: Audit rotation
Economia, September 2014
Will mandatory audit rotation negatively affect audit quality? Steve Barber, audit committee chairman at Next, debates the issue with RA Collinge, head of the UK Shareholders Association's corporate governance group.

Featured report

How does joint provision of audit and non-audit services affect audit quality and independence? 
ICAEW, 2014
This report analyses changes in recent years in the market for the provision of non-audit services (NAS), with particular focus on the joint provision of audit and non-audit services and the potential effects on independence and the quality of audit. 

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use. 

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.

Showing 3 of 8 items

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.

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.


Auditor independence
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 October 2001.

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.

United Kingdom

Ethical standards 
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:


Auditor independence 
Information on the auditor independence requirements adopted by the ICAEW and topical issues relating to auditor independence.

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. Please contact the Library to borrow a copy.

United States

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.

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'.

Public Accounting Firms: 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 ...'

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.


Auditor Independence

Audit 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 through our document supply service.

Can't find what you are looking for?

If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by web chat or by email at library@icaew.com.

ICAEW accepts no responsibility for the content on any site to which a hypertext link from this site exists. The links are provided ‘as is’ with no warranty, express or implied, for the information provided within them. Please see the full copyright and disclaimer notice.