An Understanding of the Joint Audit Role in enhancing the External Audit Practices in Kuwait

Aljouan, M 2021, An Understanding of the Joint Audit Role in enhancing the External Audit Practices in Kuwait , PhD thesis, University of Salford.

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This research evaluates the role of Joint Audit (JA) from a diverse stakeholders' perspective and investigates the effects of JA on the overall audit quality (AQ), it has aimed at examining the effects of a JA on Kuwait's quality of the financial reports. The data were collected using semi-structured interviews and survey questionnaires with stakeholders. The interpretive methodology has been chosen because it contributes primarily to understanding stakeholders' perception of JA and inferring their opinions, ideas, and complexities for this type of audit. The findings demonstrate that most stakeholders believe that JA can add value to AQ by having auditors with diverse backgrounds and experience in the field of audit, which contributes to increasing the AQ. JA also ensures the auditor's rotation, which achieves the necessary neutrality resulting in a high-quality audit. Further, JA stimulates competition among the largest number of auditing firms, leading to more innovation and improved response to the needs of the audit market. This is the general perception of AQ practices and the extent to which respondents agreed with statements regarding measures that can improve the AQ practices. The findings also reveal that JA generates cooperation and friction between BAF and MSF, resulting in a rise in the level of the auditor himself in terms of exchange of information and experience. As well as helping the Kuwaiti audit firms to develop their abilities by using advanced techniques and technology and transferring rare expertise to the auditors, which is reflected positively in the final audit outcome, on the financial level, the JA provides good opportunities for audit firms to gain market share. The JA can help to develop a solid financial market with credibility through the fair and transparent financial report that will enhance the position of the Kuwait financial environment, regionally and globally. However, the findings show that some stakeholders are concerned about downsides, such as coordination difficulties and (free-ride).

Item Type: Thesis (PhD)
Schools: Schools > Salford Business School
Depositing User: Mohammad Aljouan
Date Deposited: 20 Jul 2022 10:49
Last Modified: 07 Aug 2022 02:30

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