FAR's 4th Annual Report

27 July 2020

FAR's 4th Annual Report

We are pleased to present the fourth annual report of Stichting Foundation for Auditing Research (“FAR”) for the financial year from 1 January 2019 till 31 December 2019.  The objective of FAR is to conduct scientific research into (the drivers of) audit quality, to scientifically inform the management of the audit firms, the profession, and the public with regards to the continuous improvement of the accounting profession. Since the founding of FAR in 2015, the 10 affiliated audit firms, the research teams involved, and the FAR organization have gone through a steep learning curve and have invested heavily in building a now globally unique and reliable infrastructure for research collaboration and data exchange between audit practice and science. This has resulted in a research agenda that now consists of around 25 ongoing research projects and a lasting boost in the academic (Dutch) audit research community. Through proactive knowledge sharing with practice, FAR informs the profession, academics, and society about the first new research results of own FAR research during Masterclasses, via practice notes and our (improved) website, and at the International FAR Conferences. 

As FAR was established for the initial period of 2015 to 2020, in 2019 we discussed and prepared for FAR’s extension for a next five-year period. To this end we discussed our strategy with all the currently affiliated audit firms, Stichting Accountantsfonds, and a number of stakeholders. We are pleased to currently be formalizing the extension of affiliations. This means that FAR can continue to pursue its objectives and commit to (multi-year) research projects for another five years, until the end of 2025. 

There is still much to be done and research takes time, which requires patience. Accordingly, there continues to be an abundance of ambitions for the coming period.

For the full report, please click here.

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