The influence of reputation and regulation related factors on the independence of the Greek certified auditors

In the Greek market, the recent liberalisation process from a single state-owned audit body up to the establishment of private auditing entities (local and foreign) resulted in the hiring of a vast amount of certified auditors. Factors like negotiating auditing fee, professional sanctions, legal liability, fear of loss of reputation and clientele as a result of inappropriate auditing behaviour were examined. Contrary to past surveys these factors are never examined in Greece, so the findings of this research are a clear contribution to the academic literature. A one-way Analysis of Variance (ANOVA) was used. Ranking the effects of the above four factors across three different but related professional groups, a high level of consistency was evident. The new element of this research is that each variable examined has a definite potential impact on the credibility of the independence of the Greek certified auditors.