Auditors Responsibilities and the Quality of Audit

AUDITING ASSIGNMENT

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By student name
Professor
University
Date: 25 April 2018.
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Executive Summary
The quality of the audit plays a very important role in the modern era as it helps in determining many
financial decisions and therefore it should be understood that the sub-standard quality of the audit will
have a direct impact on the shareholders, other stakeholders and the auditors themselves. Keeping the
above aspect in mind, a report has been prepared on the topic Auditors Responsibilities and the Quality
of Audit. Stakeholder analysis has been done for one of the companies listed on the Australian Stock
exchange and the concepts of whistleblowing and independence has also been highlighted. The
learnings from the Enron scandal have also been enlisted and suggestions and recommendation has also
been given for to address the issues w.r.t. quality of audit.
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Contents
Introduction.................................................................................................................................................4
Discussion and Analysis...............................................................................................................................4
Key stakeholder analysis for an ASX listed company...............................................................................4
Whistleblowing and independence for auditors – concepts and explanation.........................................5
Key Lessons from Enron Scandal and the behaviour of the auditors (Arthur Anderson).........................5
Quality of Audit.......................................................................................................................................7
Conclusion...................................................................................................................................................8
References...................................................................................................................................................9
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