It is taken for granted that a fundamental conflict exists between auditors’ professional responsibilities and their commercial interests. While there is no direct evidence to support this widely held belief, it nonetheless fuels extensive, costly regulatory and standard-setting activities. We propose to examine whether auditors’ commercial and professional motivations actually conflict. Moreover, we argue that quality control mechanisms in audit firms—e.g., performance evaluation and technical consultation procedures—create conditions in which the two sets of motivations are likely mutually reinforcing.
Prof. William Ciconte PhD
Assistant Professor of Accountancy University of Illinois
Dr. Justin Leiby
Associate Professor of Accountancy and Professor Ken Perry Faculty Fellow University of Illinois
Prof. dr. Marleen Willekens
Full Professor of Accounting and Auditing at KU Leuven