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Audit quality in the Czech Republic with a focus on auditors of public interest entities
[Kvalita auditu v České republice se zaměřením na auditory subjektů veřejného zájmu]

Author

Listed:
  • Michal Šindelář
  • Libuše Müllerová

Abstract

The article deals with the issue of audit quality of auditors of public interest entities in the Czech Republic. The research is based on publicly available data published by the Public Audit Oversight Board and data available in the Register of Auditors published on the website of the Chamber of Auditors of the Czech Republic. The analysis is based on data from the Public Audit Oversight Board among 2017-2020, while the fines imposed on auditors are analyzed among 2019-2021. The number of inspections carried out by the Public Oversight Board is relatively stable, with an increase in the ratio of total findings to total completed inspections in 2019. The amount of the average fine imposed in 2020 also increased significantly.

Suggested Citation

  • Michal Šindelář & Libuše Müllerová, 2021. "Audit quality in the Czech Republic with a focus on auditors of public interest entities [Kvalita auditu v České republice se zaměřením na auditory subjektů veřejného zájmu]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2021(4), pages 5-17.
    • Handle: RePEc:prg:jnlcfu:v:2021:y:2021:i:4:id:565:p:5-17
    DOI: 10.18267/j.cfuc.565
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    References listed on IDEAS

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    1. Joseph Weber & Michael Willenborg & Jieying Zhang, 2008. "Does Auditor Reputation Matter? The Case of KPMG Germany and ComROAD AG," Journal of Accounting Research, Wiley Blackwell, vol. 46(4), pages 941-972, September.
    2. Lennox, Clive & Pittman, Jeffrey, 2010. "Auditing the auditors: Evidence on the recent reforms to the external monitoring of audit firms," Journal of Accounting and Economics, Elsevier, vol. 49(1-2), pages 84-103, February.
    3. Will Ciconte & Walter Robert Knechel & Caren Schelleman & Gary Monroe, 2015. "An examination of the relation between market structure and the profitability of audit engagements," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 55(3), pages 749-781, September.
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    More about this item

    Keywords

    Audit quality; Public Audit Oversight Board; Auditors of Public Interest Entities; Public interest entities; Kvalita auditu; Rada pro veřejný dohled nad auditem; Auditoři subjektů veřejného zájmu; Subjekty veřejného zájmu;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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