External Audit from Process and Quality Perspective

Abstract

This Chapter focuses on the quality of audit, which has many determinants. One of them is the audit process itself. Acceptance of an audit engagement, the planning of an audit, the audit team, consultations and communications during an audit are important issues handled in this Chapter. Next comes independence of the auditor, audit firm, and audit team. Transparency issue follows. Since the audit client as an input has influence on audit quality, this is also explained here. The last part of this Chapter is about regulating authorities, oversight function, and sanction of them. The outlook of audit firms in Turkey follows.