External Auditing and Quality by Iffet Kesimli

Author:Iffet Kesimli
Language: eng
Format: epub, pdf
ISBN: 9789811305269
Publisher: Springer Singapore

When audit quality starts being questioned, audit client altering their audit firms is considered necessary for the sake of their own reputation. However, such a situation may mean additional problems and cost to be undertaken. Time lost by the new audit firm in learning client-specific information and developing expertise is to be considered as well. Besides, there will be costs to be undertaken by the successor. These costs are figured below (Fig. 3.13).

Fig. 3.13Costs the audit clients face while changing their audit firms.

Source Skinner, D. J., Srinivasan, S., (1 July 2011). “Audit Quality and Auditor Reputation: Evidence from Japan”. Chicago Booth Research Paper, No. 10–15; Harvard Business School Accounting & Management Unit Working Paper No. 10–088. Figured from p. 2 http://​ssrn.​com/​abstract=​1557231. Accessed 13 Oct 2011

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