Factors Affecting the Audit Quality in Bangladesh
Keywords:Audit, Audit Quality, Audit Fee, Bangladesh
Main Objectives: The study mainly focused on different factors which actually affects the audit quality. The principal goal of the report is to comprehend the association between quality and various variables of audit influencing it. Background Problems: In Bangladesh, a series of market crash and manipulated financial statements questioned the audit quality which as a consequence degraded market confidence. Identification of the influential factors towards audit quality can be the steppingstone towards facing the problematic situation. Novelty: 11 factors along with new factor like external manager review was incorporated to work with and to see the impact of each factors. This was unique in nature as the combination of factors were not researched before. Research Methods: Descriptive statistics and Regression model were used for the analysis. The samples were collected randomly which mainly included article students of different firms. Paper based survey was conducted to bring out the responses. The regression model helped us to formulate the significant components which mostly affected the essence of auditing and its nature. Finding /Results: Audit quality was perceived high, and the respondents assumed that audit review by an external manager of the team had considerable amount of influence over audit quality followed by internal control. It was also visualized that number of client/assignments of a firm inversely impact the audit quality. Contributions: The influential factors were identified which can be studied or regulated to retain the reliability and confidence of the market which is significantly influenced by the audit quality. Conclusion: It can be concluded that the study was successful in identifying the factors affecting the audit quality in Bangladesh which creates an avenue for the concerns to look into the subject for improvisation.
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