Naslov
Inspection Results on the Quality of Auditing

Autori
Žager, Lajoš ; Sever Mališ, Sanja ; Brozović, Mateja

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Entrepreneurship, Business and Economics - Vol. 2, Proceedings of the 15th Eurasia Business and Economics Society Conference / Bilgin, Mehmet Huseyin ; Danis, Hakan - Lisabon : Springer, 2016, 59-79

ISBN
978-3-319-27572-7

Skup
15th Eurasia Business and Economics Society Conference

Mjesto i datum
Lisabon, Portugal, 08.01.2015. - 10.01.2015

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
auditing; audit quality; control mechanism; results of inspections

Sažetak
Financial statements auditing is conducted in order to protect public interest. However, to protect it, it is necessary to establish the trust in auditor's work. The responsibility of the auditing profession is to provide the high quality of auditing services. In other words, members of the auditing profession need to secure the acceptable level of quality with the implemented and developed mechanisms of quality control in auditing, thus providing and increasing the public trust in auditor's assignment. One of the quality control mechanisms are the inspections over the auditors and auditing firms performed by an independent authorized institution. Following that practice the Croatian Chamber of Auditors is performing the inspection of auditors and auditing firms since 2010. The aim of this paper is to compare the results of inspections carried out in Croatia with the inspections performed in the selected developed European Union countries. The experience of the developed European Union countries can be applied in performing audit inspection in Croatia. The reports on audit inspection show that there is still room for improvements in terms of the audit quality. The conclusions of the research point towards the lack of auditor's professional scepticism with regard to the statements of management. This refers to the importance of professional scepticism in audit fields which are exposed to increased risks in the context of the financial market and global economic crises. According to the experience of the developed countries, the inspections that were carried out by an independent professional body have increased the quality of the performed audits. However, there are clear suggestions that there is still plenty of space for significant improvements of the quality of the performed audits.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA