- 276 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
About this book
The financial information provided to governments, creditors, investors etc. by businesses has been verified by auditors since ancient times. In its modern form, the independent public accounting profession has its roots in 19th century Scotland. A distinctive feature of this profession is that it consists of private for-profit businesses – operating as sole practitioners, partnerships, but mostly as large accounting firms. The question naturally arises – why should users of financial information provided by private for-profit firms place trust in the verification of that information by other private for-profit firms? This is the interesting and complex economic issue that underlies research in what has come to be called 'the economics of auditing'. The author is one of the first researchers in this area. This book traces the development of this important stream of research that applies economic analysis to the study of financial statement audits by professional public accounting firms. It offers a narrative commentary, along with a series of previously unpublished papers that the author presented during the 1970's, at Accounting Research workshops at the University of Chicago, as part of his dissertation research, that ultimately led to one of the bedrock papers in the field. It provides an explanation and discussion of the economic, regulatory, and research environment at that time. The book concludes with a discussion of important but currently "unanswered questions" in the field that flow from the author's thesis research but remain unresolved. It will be of significant interest to advanced students and academics who are engaged in developing their own research programs, as well as to any researcher who is working in the area of the 'economics of auditing'.
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Table of contents
- Cover
- Half Title
- Series Page
- Title Page
- Copyright Page
- Dedication
- Table of Contents
- Part I Overview of the Book and the Beginnings of Research in the Economics of Auditing
- Part II Some Ideas for Possible Future Work after a Difficult Workshop Presentation at the University of Chicago
- Part III Research on the Characteristics of Audit Labor Inputs and Audit Firm Labor Billing Rates Using Data Collected by Certain State CPA Societies from Their Members
- Part IV Some Initial Research Findings Using Data on Audit Fees and Other Variables Collected by Survey from a Sample of Audited Companies
- Part V The Final Ph.D. Thesis, Presented and Discussed in Three Parts: Theory; Empirical Test Design; and Detailed Empirical Results
- Part VI The End of a Long Process, and Some Thoughts on Critical Issues That Remain to Be Resolved after More than 50 Years of Research in the Economics of Auditing
- Index