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Journal ArticleDOI

Statutory Auditors’ Independence in India: An Empirical Analysis from the Stakeholders’ Interest Perspective

TL;DR: A business projects its financial performance through its financial statements as mentioned in this paper, and an audited financial statement is considered to be genuine and dependable by the stakeholders of the business, and therefore is considered a trustworthy document.
Abstract: Executive SummaryA business projects its financial performance through its financial statements. An audited financial statement is considered to be genuine and dependable by the stakeholders of the...
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Journal Article

67 citations

01 Sep 1991
TL;DR: The kitchen is a dangerous room for matrimonial harmony and cooking and the kitchen chez nous should provide the classic confirmation of how opposites manage to weather the storms of marriage.
Abstract: Mrs. Beeton, after her education in Heidelberg, was probably right. You need both ingredients and the place. As said before in this column, the kitchen is a dangerous room for matrimonial harmony (well OK, I must confess that we are not yet living in a caravan. Wiser councils prevailed and in any case our Editor intimated that he didn't want contributions from people who are of no fixed address I think that it is all something to do with correcting proofs. Anyway, Michael Wilson has politely pretended not to hear when pressed on the point). Back to cooking. Here we do have a definite problem. Straightaway it ought to be pointed out that cooking and the kitchen chez nous should provide the classic confirmation of how opposites manage to weather the storms of marriage. My partner is skilled in things culinary, literally a professional, and usually is given to the lighter points of conversation at the end of the day in the kitchen. I love the muddle and mess of cooking. Chinese is my favourite at the moment, and the books on that are tremendous: theory and practice are nicely combined. There are so many methods on offer. Until now I'd never dared try Feng or air drying. Next week perhaps. Bamboo steamers, cleavers and woks with lots of smoking oil. Not merely that, but the red peppers, green coriander, yellow bean curd, a heap of wood-ear mushrooms, ginger choppings and garlic piles make it all so festive. Even the pots look fun with the bubbly foam on top of the boiling wheat noodles. It is a pleasure trying to keep the steamed rice and the wok going, whilst at the same time adjusting the oven and putting out the minor incineration on the back left hand gas. Cook's perks in the form of sake or rice wine aren't bad either. Most kitchens have pots and pans superflous to need. This, I consider a bad mistake. In a team everyone and everything ought to have a go. Maybe you have egg coddlers which haven't been used ever since Aunt Elsie gave them to you on your wedding day. When you adopt this egalitarian approach to cookery, it's really satisfying. Medicine does seem dull when in the full swing of Chinese cooking. However the proper professional in the house has other views. She points out that it takes time to wash …

9 citations

Journal ArticleDOI
TL;DR: In this article, the authors examined the impact of the independence of statutory auditors on the reliability of financial statements of the manufacturing companies in Nigeria and recommended that audit firms should regulate the number and length of non-audit services rendered to companies they serve as external auditor and also undergo a frequent review on financial statements where their clients have interest in order to reduce self review and self-interest threat.
Abstract: This study examined the impact of the independence of statutory auditor on the reliability of financial statements of the manufacturing companies in Nigeria. The study adopted a survey research design, using data collected from a structured online questionnaires administered to the shareholders of listed companies in Nigeria. The population of the study comprised all shareholders in Nigerian listed companies, 150 structured questionnaires were randomly distributed from which 137 were retrieved from the respondents. The gathered data were analyzed using descriptive and inferential statistics. For unwavering quality, the Cronbach alpha was utilized to test the dependability of the instrument. The paper found that independence of statutory auditors had a positive significant effect on reliability of financial statements (RFS) (F= 9.018, Adj. R2 = 0.191, p < 0.05). Also that Non-financial interest (NFI) had a positive insignificant effect on RFS, AdjR2 = 0.195; F-Stat. = 9.255; P = 0.000. Audit tenure (AT) also had a positive significant effect on RFS, AdjR2 = 0.078; F-Stat. = 3.877; P-value = 0.005. While Non- audit services (NAS) exhibited a positive significant effect on RFS, AdjR2 = 0.118; F-Stat. = 5.568; P-value = 0.000. Based on the findings, the study recommended that audit firms should regulate the number and length of non-audit services rendered to companies they serve as external auditor and also undergo a frequent review on financial statements where their clients have interest in order to reduce self-review and self-interest threat.

1 citations

References
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Book
01 Sep 2003
TL;DR: The content of this 3rd edition marketing research textbook is practical and up to date and is based on an applied and managerially focused approach.
Abstract: The content of this 3rd edition marketing research textbook is practical and up to date and is based on an applied and managerially focused approach. Australian an New Zealand research and examples have been thoroughly intergrated into every chapter.

6,557 citations


"Statutory Auditors’ Independence in..." refers methods in this paper

  • ...Test statistics (F) in one-way ANOVA is calculated based on the following formula (Kothari, 2010): F = MS between/MS within, where MS (Mean Square) between = SS (Sum of Square) between/(C – 1); MS within = SS within/(N –...

    [...]

  • ...28 STATUTORY AUDITORS’ INDEPENDENCE IN INDIA: AN EMPIRICAL ANALYSIS FROM THE STAKEHOLDERS’ INTEREST PERSPECTIVE Statutory Auditors’ Independence in India: An Empirical Analysis from the Stakeholders’ Interest Perspective Mitrendu Narayan Roy and Siddhartha Sankar Saha R E S E A R C H KEY WORDS Statutory Auditors’ Independence Stakeholders’ Interest One-way ANOVA Tukey’s HSD includes research articles that focus on the analysis and resolution of managerial and academic issues based on analytical and empirical or case research A business projects its financial performance through its financial statements....

    [...]

  • ...With a view to test the aforesaid hypotheses for each of the variables selected under this study, one-way ANOVA (Driscoll, 1996) was conducted....

    [...]

  • ...42 STATUTORY AUDITORS’ INDEPENDENCE IN INDIA: AN EMPIRICAL ANALYSIS FROM THE STAKEHOLDERS’ INTEREST PERSPECTIVE Tukey’s HSD test, a post hoc test to one-way ANOVA (Malhotra, 2003) was applied, using the same degrees of freedom and significance level as that of ANOVA....

    [...]

  • ...For one-way ANOVA, VIKALPA • VOLUME 41 • ISSUE 1 • JANUARY-MARCH 2016 39 mean squares are calculated by dividing the sum of squares by their respective DF....

    [...]

Journal ArticleDOI
TL;DR: The next few weeks are critical for nurses no doubt anxious to discover what pay award they can expect in April, as the government has piled on the pressure for public sector pay awards to be at or below 2%.
Abstract: This paper presents a novel approach to the problem of action selection for an autonomous agent. An agent is viewed as a collection of competence modules. Action selection is modeled as an emergent property of an activation/inhibition dynamics among these modules. A concrete action selection algorithm is presented and a detailed account of the results is given. This algorithm combines characteristics of both traditional planners and reactive systems: it produces fast and robust activity in a tight interaction loop with the environment, while at the same time allowing for some prediction and planning to take place.

637 citations

Book
13 Mar 2002
TL;DR: Taxonomy and Schemes as mentioned in this paper : Cooking the books Equals Fraud, Realization, Prevention, and Detection, Realizing, Prevention and Detection of Realization and Prevention of Fraud.
Abstract: Financial Statement Fraud Defined.Financial Reporting of Public Companies.Cooking the Books Equals Fraud. Realization, Prevention, and Detection.Taxonomy and Schemes. Role of Corporate Governance. Board of Directors' Oversight Responsibility. Audit Committees and Corporate Governance. Management Responsibility. Role of the Internal Auditor. Role of External Auditors. Governing Bodies. Fraud in a Digital Environment.Fraud Examination Practice and Education.Index.

235 citations


"Statutory Auditors’ Independence in..." refers background in this paper

  • ...Subject to certain reservations, most of the authors have concluded that this new Act is very effective in improving statutory auditors’ independence and corporate governance structure of a company (Carillo, 2008; Hill, McEnroe, & Stevens, 2005; Rezaee & Riley, 2002)....

    [...]

Book
01 Jan 1997
TL;DR: In this paper, the authors count social performance how to do it accountable futures social dimensions of banking - Sbn Bank, Denmark, Peter Pruzan accounting for ethics - Traidcraft, UK, Richard Evans integrated ethical auditing - the Body Shop International, UK.
Abstract: Why count social performance how to do it accountable futures social dimensions of banking - Sbn Bank, Denmark, Peter Pruzan accounting for ethics - Traidcraft, UK, Richard Evans integrated ethical auditing - the Body Shop International, UK, Maria Sillanpaa the expert view - Ben and Jerry's Homemade Inc., USA, Alan Parker social retailing, Shared Earth, UK, Jeremy Piercy building dialogue culture - Woyen Molle, Norway, Lisa Naogard constructing the social balance - Consumer Co-operative, Italy, Alessandra Vaccari ranking disclosure - Van City Savings Credit Union, Canada, Hazel Brisebois the practice of silent accounting, Rob Gray.

204 citations

01 Sep 1999
TL;DR: The Companies Amendment Act 37 of 1999 (the Amendment Act), which came into effect on 30 June 1999, makes a number of changes to well-established procedures of South African company law in terms of the Companies Act 61 of 1973 (the Act) as discussed by the authors.
Abstract: The Companies Amendment Act 37 of 1999 (the Amendment Act), which came into effect on 30 June 1999, makes a number of changes to well-established procedures of South African company law in terms of the Companies Act 61 of 1973 (the Act). Certain of these changes relate to the traditional rules governing the maintenance of capital of a company, which are largely abolished by the Amendment Act, and the introduction of sections permitting, under certain circumstances, the purchase by a company of its own shares.

136 citations