Accounting Commons^™

The Incorporation Of Society's Values And Expectations Into Auditing Standards, O. A. Zaid

Faculty of Business - Accounting & Finance Working Papers

One of the criticisms directed at the accounting profession is that auditing standards are determined, examined, evaluated and interpreted by accountants themselves through their professional bodies. It appears that auditing standards fall behind changes in society's values and expectations. This paper examines the need for and significance of incorporating changes in society's values and expectations into auditing standards as perceived by different groups within Australian society. This examination is based on a questionnaire survey of external auditors, company accountants, internal auditors, solicitors, academics, taxation officers, company directors and others. The study revealed that these groups support the need for the …