Thesis Auditor Independence

Auditor independence has long been regarded as a cornerstone of the auditing profession (AICPA 1999; SEC 2000).The government of Mauritius often requests for a Report on Observance of Standards and Codes, Accounting and Auditing Review (ROSC A&A) which focuses on the institutional framework underpinning the accounting and auditing practices in the country.We argue that certain changes in the condition of work have made some categories of accountants more susceptible to the logic of commercialism rather than the logic of professionalism. We observe that accountants working outside of public accounting have a higher commitment to independence than do accountants working in the context of public accounting firms.

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Part 2: The impact of both auditor independence and audit risk on the main elements related to an audit work; audit quality, audit failure, earning management and the audit process, to ensure confidence for the public interest.

-To highlight the importance of auditor independence and how it is fundamental to public confidence in the audit process.

Auditors have the main aim to assure the trust of the public.

Concerns are shown towards both the competence (discovering a problem or making a correct judgment) and the independence (disclosure of the problem by the auditor) of the accounting firm (Duff, 2004).

- To determine the actions taken in Mauritius to ensure confidence in auditors’ work to the public by manipulating audit quality, audit failure, earning management, the audit process as a whole An audit is basically an examination of a set of records, both financial and non financial, to ensure that they can be relied upon in terms of accuracy and completeness.

An auditor is a qualified person who carries out the audit assignment and reports on the ‘true and fair view’ of the client entity’s financial statements so that the users of financial statements can rely on the reliability and credibility of the financial statements.The aim of this study is to provide data viewed from a local perspective by taking into account the Mauritian’s framework, as well as institutions, which provides the training to equip people with the required professional and ethical conducts required as an auditor, so as to safeguard auditor independence.But in one way or the other auditor independence is threatened.It evaluates the statutory framework supporting the accountancy profession; education and training of accountants; professional accountancy organizations and ethics; accounting and auditing standards; and monitoring, enforcement, and oversight of the profession.The link between auditor independence and audit risk is closely linked.Auditors play an important role in the capital markets.Financial markets crisis since 2007 has unfolded many issues regarding the supervision of financial institutions, financial reporting and auditing as of core importance to many regulatory bodies in order to ensure proper-functioning framework in the internal market, more specifically, this has brought issues of long-standing debate (Brown, 2005; Young, 2005; Reinstein and Mc Millan, 2004; Dewing and Russell, 2003) including: audit and accounting regulation; auditor independence; earning management; and audit and audit firm quality controls.People are taught the professional behavior; integrity, objectivity and independence.But have regulatory framework and education been able to instill complete independent (both in fact and in appearance) in the work of auditor?This issue results in a lack of confidence on part of the public.Ethics have been observed to play a key part in the work of auditors.


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