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The future of the external audit function


  • Ian Fraser
  • Chris Pong


Purpose - The purpose of this paper is to provide an overview of the challenges and opportunities currently facing external auditors at a time of economic and financial crisis. Design/methodology/approach - The paper has a particular focus on the other contributions to this special issue of Findings - The paper puts forward various suggestions for future academic research that might improve auditing practice. Also, the principal aim of this special issue has been to spotlight differing perspectives on some of the perennial problems which have plagued auditing for generations and to suggest possible ways forward. Practical implications - Various suggestions for future academic research that might improve auditing practice are put forward in the paper. Originality/value - Major contemporary issues facing the auditing profession (or industry) are summarized. The paper highlights the diversity of value stances that exists in the audit academy and may (together with the other papers forming part of this special issue) be useful for introducing university students studying auditing at intermediate or advanced levels to a variety of current auditing issues and debates.

Suggested Citation

  • Ian Fraser & Chris Pong, 2009. "The future of the external audit function," Managerial Auditing Journal, Emerald Group Publishing, vol. 24(2), pages 104-113, January.
  • Handle: RePEc:eme:majpps:v:24:y:2009:i:2:p:104-113

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    References listed on IDEAS

    1. Rihab Khalifa & Nina Sharma & Christopher Humphrey & Keith Robson, 2007. "Discourse and audit change: Transformations in methodology in the professional audit field," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 20(6), pages 825-854, October.
    2. Peecher, Mark E. & Schwartz, Rachel & Solomon, Ira, 2007. "It's all about audit quality: Perspectives on strategic-systems auditing," Accounting, Organizations and Society, Elsevier, vol. 32(4-5), pages 463-485.
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    Cited by:

    1. Berinde Sorin & Rachisan Paula Ramona, 2013. "The Impact Of Corporate Governance On The Restructuring Operations Of Audited Entities," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 1300-1309, July.
    2. Cristina Boţa-Avram, 2012. "Investigation of External Audit’s Good Practices in the Context of Corporate Governance - Evidence from Romania," Journal of Knowledge Management, Economics and Information Technology,, vol. 2(1), pages 1-7, February.
    3. Ioana Iuliana Pop (Grigorescu) & University Lleida & Oana Raluca Ivan, 2013. "The Role And Utility Of Financial Audit In Romania And Spain - An Empiric Study," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(15), pages 1-17.

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    External auditing; Auditors;


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