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Audit Quality of Financial Statements : an Exploratory Study of Investors
| Content Provider | Semantic Scholar |
|---|---|
| Author | Mago, Monita |
| Copyright Year | 2014 |
| Abstract | Auditing is the examination of books , accounts and vouchers of the business. The purpose is to satisfy the balance sheet shows a true and fair view of the state of affairs of the business and the profit and loss derived by the business during the financial period. Enron , Xerox , Satyam, are difficult to imagine but have happened. These failures on the part of auditors, auditing process etc to identify bad book keeping, accounting lapses, tampered evidence, booking questionable revenues etc have given the investors a “?” on the quality of audit presented to them. In the changed scenario the importance of audit quality has emerged significantly. A perusal of review of literature brings home the fact that a number of studies have been conducted abroad for understanding the audit, audit quality, perception about audit and audit quality from the perspective of common investors but limited studies have been conducted in India and most of the studies are related to perception of retail investors towards stock market so this study was undertaken among 100 investors to understand perception and attitude of retail investors and determine the measures needed to improve investors’ confidence in the audit , audit process etc. The study found that majority of the investors under study were aware about the Satyam scam , ii) auditors are more concerned in keeping the company happy and satisfied and that audit is a significant and integral part in decision making and most of the respondents consider it to be beneficial to both the company and investors. The study recommended disseminating more information in audit report, conduct of awareness campaigns, more powers to audit committee, setting up of a quality assessing and accrediting organization . |
| File Format | PDF HTM / HTML |
| Volume Number | 4 |
| Alternate Webpage(s) | http://www.theinternationaljournal.org/ojs/index.php?journal=tij&op=download&page=article&path%5B%5D=3408&path%5B%5D=pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
