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Audit Firms And Disclaimers: Is The Bar Set Too Low?, Keith Hooper, Jing Wang
Audit Firms And Disclaimers: Is The Bar Set Too Low?, Keith Hooper, Jing Wang
Faculty of Business - Papers (Archive)
This paper makes the case for the greater regulation of auditors. It argues that the courts are too sympathetic to the use of disclaimers to escape liability to investors, individual shareholders and third parties. The approach is to review the relevant court cases which established the concept of "opinions" and disclaimers as a means of protection and argue for greater recognition of the wider impact of the audit role. The paper finds that the best explanation as to why auditors use disclaimers is Social Darwinism. The application of professional ethics as adumbrated in various codes is not relevant to this …
Local Council Governance And Audit Committees - The Missing Link?, Greg Jones, Graham Bowrey
Local Council Governance And Audit Committees - The Missing Link?, Greg Jones, Graham Bowrey
Faculty of Business - Papers (Archive)
Purpose: To examine the level of compliance of NSW Local Government councils with the Internal Audit Guidelines developed and published by the NSW State Government to address the identified weaknesses in the governance structures of the councils. The specific focus in this paper is on a key component of good governance, an audit committee, and whether the NSW Local Government councils have followed the guidelines and established an audit committee. Design / methodology: This paper is based on archival research of the 2009/2010 Annual Reports and websites of NSW Local Government councils to collect data on the existence and structure …