Impact of the External/Internal Auditing Dual Role on Public Accounting Firms' Independence

TitleImpact of the External/Internal Auditing Dual Role on Public Accounting Firms' Independence
Publication TypeJournal Article
Year of Publication1995
AuthorsZaid, OA
JournalProfessional Ethics: A Multidisciplinary Journal
Volume4
Issue2
Pagination49-75
Type of ArticleJournal Article
Publication Languageeng
ISBN Number1063-6579
AbstractThe purpose of this paper is to examine the impact of the simultaneous dual practice of internal and external auditing by accounting firms. This impact is restricted to accounting firms' independence in the light of Australian Auditing Standards and Statements of Auditing Practice in addition to Australian Code of Professional Conduct and Rules of Ethical Conduct. The results of this study suggest that the internal/external dual role is incompatible and could result in conflict of interest. This incompatibility is based on the effect of the internal/external auditing dual role on the criterion of independence. This criterion is professionally and legally recognised as the prime requirements for external auditing.
NotesCover Date: Summer 1995.Source Info: 4(2), 49-75. Language: English. Journal Announcement: 30-4. Subject: ACCOUNTING; AUDIT; ETHICS; EXTERNAL; INTERNAL; PUBLIC. Update Code: 20100311.
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