An independent audit oversight system in a non-developed market: the case of Egypt

Mohamed Khaled Amr Eldaly and Magdy Abdel-Kader

International Journal of Accounting, Auditing and Performance Evaluation, 2017, vol. 13, issue 3, 254-279

Abstract: This study aims to provide a better understanding of oversight on the audit profession in Egypt, including its motivations, objectives and its working approach. Further, it reaches a better understanding of the Egyptian Big 4 partners' perceptions of the new audit oversight board (AOB). Previous studies have frequently examined the audit oversight system in developed countries (the USA and UK in particular), but little is known on how the system works on developing countries. We believe that facing different problems and challenges demands that audit regulators in developing countries follow different approaches in order to improve the quality of their audit markets. Lack of skilled auditors, lack of transparency and public accountability, and a high level of corruption are the main problems facing the audit profession in Egypt (Awadallah, 2006; Wahdan et al., 2005a). Our findings suggest that establishing an AOB in Egypt has been motivated by the need to attract foreign investments and follow the global trend of auditing in developed countries. A number of legal changes are needed in order to improve the AOB's efficiency.

Keywords: audit oversight; Egypt; Big 4 firms; developing countries. (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.inderscience.com/link.php?id=85182 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijaape:v:13:y:2017:i:3:p:254-279

Access Statistics for this article

More articles in International Journal of Accounting, Auditing and Performance Evaluation from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().