Audit Word Scramble
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| Question | Answer |
| aim of study | to stimulate debates about auditing practices in the wake of the financial crisis |
| auditors collect | large amounts in audit and non-audit fees |
| questions regarding the value of | - company audits - auditor independence - quality - economic incentives for good audit - knowledge base of auditor |
| audits are a reassurance to | all who have a financial interest in the companies |
| auditors have cemented their privilege on the basis that | their expertise enables them to mediate uncertainty and construct independent, objective, true and fair accounts of corporate affairs |
| claims of expertise get punctured when | there are corporate collapses, frauds, and failures |
| markets have not | been assured by unqualified audit opinion |
| need reflection on | the role, value and independence of auditors |
| audit firms are | capitalist enterprises and are dependent upon companies and their directors for income |
| fee dependency impairs | claims of independence and has capacity to silence auditors |
| auditing firms used the crisis | to demand further liability concessions and increase profits |
Created by:
amyperston
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