Full Text Available
Note: Clicking the button above will open the full text document at the original institutional repository in a new window.
Exploring the perspectives of audit committee members on mandatory audit firm rotation in a South African context
This study examines the perspectives of experienced audit committee members on mandatory audit firm rotation (MAFR) in a South African context. This follows the recent initiatives by the Independent Regulatory Board of Auditors (IRBA) to make audit firm rotation compulsory in South Africa. Semi-stru...
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Thesis |
| Language: | English |
| Published: |
College of Accounting
2019
|
| Subjects: | |
| Tags: |
No Tags, Be the first to tag this record!
|
| _version_ | 1867613337547702272 |
|---|---|
| access_status_str | Open Access |
| author | Thomson, Chelsea |
| author2 | Willows, Gizelle |
| author_browse | Thomson, Chelsea Willows, Gizelle |
| author_facet | Willows, Gizelle Thomson, Chelsea |
| author_sort | Thomson, Chelsea |
| collection | Thesis |
| description | This study examines the perspectives of experienced audit committee members on mandatory audit firm rotation (MAFR) in a South African context. This follows the recent initiatives by the Independent Regulatory Board of Auditors (IRBA) to make audit firm rotation compulsory in South Africa. Semi-structured, in-person interviews were conducted with audit committee members in South Africa to explore and contribute to the existing literature on audit committee member positions on MAFR. Twenty-two audit committee members were interviewed. Key discussion areas revolved around the regulator’s intended impact of MAFR in South Africa, including the promotion of auditor independence, the lowering of audit firm market concentration and acceleration of the rate of transformation in the South African audit industry. The findings show a general consensus among the audit committee members interviewed that MAFR will not achieve any of the objectives of the IRBA and that the members are predominantly in opposition of MAFR. Furthermore, the members proposed various arguments against MAFR, illustrating how the policy has limited benefits, if any, and will introduce many monetary and non-monetary costs into the audit industry, which could negatively impact the appeal of the audit industry. The vast majority of members held the view that the primary purpose of MAFR in South Africa is not to promote auditor independence, but is rather intended to address market concentration and transformation. However, the findings indicate that MAFR is believed to not be the best solution for these issues and, as such, further research and alternative measures should be sought by the regulator. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/29203 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:34:32.198Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2019 |
| publishDateRange | 2019 |
| publishDateSort | 2019 |
| publisher | College of Accounting |
| publisherStr | College of Accounting |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/29203 Exploring the perspectives of audit committee members on mandatory audit firm rotation in a South African context Thomson, Chelsea Willows, Gizelle Accounting This study examines the perspectives of experienced audit committee members on mandatory audit firm rotation (MAFR) in a South African context. This follows the recent initiatives by the Independent Regulatory Board of Auditors (IRBA) to make audit firm rotation compulsory in South Africa. Semi-structured, in-person interviews were conducted with audit committee members in South Africa to explore and contribute to the existing literature on audit committee member positions on MAFR. Twenty-two audit committee members were interviewed. Key discussion areas revolved around the regulator’s intended impact of MAFR in South Africa, including the promotion of auditor independence, the lowering of audit firm market concentration and acceleration of the rate of transformation in the South African audit industry. The findings show a general consensus among the audit committee members interviewed that MAFR will not achieve any of the objectives of the IRBA and that the members are predominantly in opposition of MAFR. Furthermore, the members proposed various arguments against MAFR, illustrating how the policy has limited benefits, if any, and will introduce many monetary and non-monetary costs into the audit industry, which could negatively impact the appeal of the audit industry. The vast majority of members held the view that the primary purpose of MAFR in South Africa is not to promote auditor independence, but is rather intended to address market concentration and transformation. However, the findings indicate that MAFR is believed to not be the best solution for these issues and, as such, further research and alternative measures should be sought by the regulator. 2019-02-04T11:00:19Z 2019-02-04T11:00:19Z 2018 2019-02-04T10:11:48Z Master Thesis Masters MCom http://hdl.handle.net/11427/29203 eng application/pdf College of Accounting Faculty of Commerce University of Cape Town |
| spellingShingle | Accounting Thomson, Chelsea Exploring the perspectives of audit committee members on mandatory audit firm rotation in a South African context |
| thesis_degree_str | Master's |
| title | Exploring the perspectives of audit committee members on mandatory audit firm rotation in a South African context |
| title_full | Exploring the perspectives of audit committee members on mandatory audit firm rotation in a South African context |
| title_fullStr | Exploring the perspectives of audit committee members on mandatory audit firm rotation in a South African context |
| title_full_unstemmed | Exploring the perspectives of audit committee members on mandatory audit firm rotation in a South African context |
| title_short | Exploring the perspectives of audit committee members on mandatory audit firm rotation in a South African context |
| title_sort | exploring the perspectives of audit committee members on mandatory audit firm rotation in a south african context |
| topic | Accounting |
| url | http://hdl.handle.net/11427/29203 |
| work_keys_str_mv | AT thomsonchelsea exploringtheperspectivesofauditcommitteemembersonmandatoryauditfirmrotationinasouthafricancontext |