Auditor communication in an evolving environment : going beyond SAS 600 auditors' reports on financial statements

Manson, Stuart & Zaman, Mahbub (2001) Auditor communication in an evolving environment : going beyond SAS 600 auditors' reports on financial statements. British Accounting Review, 33(2), pp. 113-136.

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In 1993 the Auditing Practices Board issued an expanded audit report, SAS 600 Auditors’ Reports on Financial Statements, in an attempt to educate users and to clarify certain matters pertaining to the audit function. This paper investigates the extent to which the new audit report, SAS 600, has been successful in aligning the views of auditors, preparers and users about issues dealt with in the expanded audit report, and the extent to which the three groups considered that it would be useful for additional matters, including corporate governance, to be reported upon by the auditor. Our findings suggest that SAS 600 has been successful in clarifying the purpose of the audit and the respective responsibilities of auditors and directors. However, to meet the expectations of users and to add more value, the audit report needs to provide more information about the findings of the audit.

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ID Code: 72883
Item Type: Journal Article
Refereed: Yes
Keywords: auditing practices, auditor communication, SAS 600, Financial statements
DOI: 10.1006/bare.2001.0157
ISSN: 1095-8437
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Deposited On: 08 Dec 2014 23:02
Last Modified: 08 Dec 2014 23:02

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