Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/10477
Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Auditors' Perceptions of Responsibilities to Detect and Report Client Illegal Acts in Canada and the U.K: a Comparative Experiment
Authors: Fraser, Ian
Lin, Kenny Z
Contact Email: i.a.m.fraser@stir.ac.uk
Keywords: Illegal acts
auditing standards
auditor respon-sibilities
detection and reporting
Issue Date: Jul-2004
Publisher: Wiley-Blackwell
Citation: Fraser I & Lin KZ (2004) Auditors' Perceptions of Responsibilities to Detect and Report Client Illegal Acts in Canada and the U.K: a Comparative Experiment, International Journal of Auditing, 8 (2), pp. 165-184.
Abstract: This paper investigates the theme of the role and influence of auditing standards on auditing practice by means of a comparative case study focused on two different standard setting regimes. Specifically, the Canadian and UK standards concerned with the detection and reporting of client illegal acts are considered. Fifteen short vignettes are developed each describing an illegal act and reflecting the distinctive factors highlighted by the respective auditing standards. We find that the regulation of the auditing profession through the mode of auditing standards does have an identifiable impact on auditor behavior. The impact of standards on auditors' perceptions of their responsibilities in the area of illegal acts is clearer for detection than it is for reporting. Additionally, auditors continue to perceive a clear distinction between fraud and other illegal acts and recognize a higher degree of responsibility for illegal acts involving fraud than for others. At the other end of the spectrum auditors do recognize some degree of responsibility in connection with illegalities that do not fall within the ambit of auditing standards. Auditors are also influenced in their judgments on the general nature of an illegal act rather than on how the illegality fits the framework adopted by the appropriate auditing standard.
Type: Journal Article
URI: http://hdl.handle.net/1893/10477
DOI Link: http://dx.doi.org/10.1111/j.1099-1123.2004.00088.x
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: Accounting and Finance
Lingnan University

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