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The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis

Humphrey, Christopher; Loft, Anne LU and Woods, Margaret (2009) In Accounting, Organizations and Society 34(6-7). p.810-825
Abstract
This paper explores how regulatory relationships in the global audit arena are being affected by the current financial crisis. Key policy initiatives and debates are analyzed, along with Institutional interactions, in particular between the International Federation of Accountants (IFAC), international regulators and the large audit firms. The events are placed in the context of the new international financial architecture which has developed over the last decade. Using the illustrative lens of bank auditing, questions are asked of the nature and status of audit practice and the regulatory arrangements governing such practice. The paper shows the active nature of the regulatory responses to the crisis and the shifting and competing... (More)
This paper explores how regulatory relationships in the global audit arena are being affected by the current financial crisis. Key policy initiatives and debates are analyzed, along with Institutional interactions, in particular between the International Federation of Accountants (IFAC), international regulators and the large audit firms. The events are placed in the context of the new international financial architecture which has developed over the last decade. Using the illustrative lens of bank auditing, questions are asked of the nature and status of audit practice and the regulatory arrangements governing such practice. The paper shows the active nature of the regulatory responses to the crisis and the shifting and competing influences among key regulatory and professional participants in the global audit arena. Emphasis is placed on the need for audit researchers to be sensitive to the developing global financial architecture, and its potential implications for the study of audit practice in different national and international contexts. (C) 2009 Elsevier Ltd. All rights reserved. (Less)
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
Accounting, Organizations and Society
volume
34
issue
6-7
pages
810 - 825
publisher
Elsevier
external identifiers
  • wos:000269599800010
  • scopus:68249129504
ISSN
0361-3682
DOI
10.1016/j.aos.2009.06.003
language
English
LU publication?
yes
id
066c2579-953a-48b9-84a3-f65baf119dd2 (old id 1475328)
date added to LUP
2009-10-01 15:47:57
date last changed
2017-12-10 04:12:41
@article{066c2579-953a-48b9-84a3-f65baf119dd2,
  abstract     = {This paper explores how regulatory relationships in the global audit arena are being affected by the current financial crisis. Key policy initiatives and debates are analyzed, along with Institutional interactions, in particular between the International Federation of Accountants (IFAC), international regulators and the large audit firms. The events are placed in the context of the new international financial architecture which has developed over the last decade. Using the illustrative lens of bank auditing, questions are asked of the nature and status of audit practice and the regulatory arrangements governing such practice. The paper shows the active nature of the regulatory responses to the crisis and the shifting and competing influences among key regulatory and professional participants in the global audit arena. Emphasis is placed on the need for audit researchers to be sensitive to the developing global financial architecture, and its potential implications for the study of audit practice in different national and international contexts. (C) 2009 Elsevier Ltd. All rights reserved.},
  author       = {Humphrey, Christopher and Loft, Anne and Woods, Margaret},
  issn         = {0361-3682},
  language     = {eng},
  number       = {6-7},
  pages        = {810--825},
  publisher    = {Elsevier},
  series       = {Accounting, Organizations and Society},
  title        = {The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis},
  url          = {http://dx.doi.org/10.1016/j.aos.2009.06.003},
  volume       = {34},
  year         = {2009},
}