Reorganisation Problems of the Auditing Firms in the Post-Sarbanes Oxley Era: Quality Concern and Turkey

Abstract

This chapter is about the reorganisation of the auditing firms in the Post-Sarbanes Oxley Era, in the light of quality concern. The chapter opens up with definitions of related concepts. The importance of audit quality is emphasised in the second section. Discussion on the factors associated with audit quality is the following part. The need for reorganisation of the audit firms follows and the chapter concludes with proposals section. The audit firms seem to be squeezed to catch up with both the national and international regulations. One of the ascertainments is that the audit firms all over the world need to cope with the standards; another is their obligation to provide high-quality audits. Globally speaking, the unwillingness of the profession to alter its habits and to sacrifice the profits historically earned is another obstacle to overcome. In the aftermath of the establishment of the Public Oversight Board in the late 2012, Turkish case follows with an almost 10-year gap.

Citation

Kesimli, I. (2016), "Reorganisation Problems of the Auditing Firms in the Post-Sarbanes Oxley Era: Quality Concern and Turkey", Accountability and Social Responsibility: International Perspectives (Developments in Corporate Governance and Responsibility, Vol. 9), Emerald Group Publishing Limited, Leeds, pp. 155-168. https://doi.org/10.1108/S2043-052320160000009007