scholarly journals Public oversight of the audit profession – Comparison of implemented practices in the EU and the U.S.

2014 ◽  
Vol 7 (3) ◽  
Author(s):  
Maja Zaman Groff ◽  
Marko Hočevar
Keyword(s):  
Quality Assurance ◽  
External Quality Assurance ◽  
External Quality ◽  
The Public ◽  
Sarbanes Oxley ◽  
The Impact ◽  
Public Oversight ◽  
The U.S ◽  
The Eu

Following financial scandals at the turn of the century, the audit profession in the European Union, the United States and elsewhere, has undergone profound legislative and regulatory reforms, including the requirement for intense public oversight of the profession. The article provides an overview of the development of external quality assurance systems in the audit profession in the EU and the U.S. with emphasis on the system of public oversight, implemented after the passing of the Sarbanes-Oxley Act of 2002 in the U.S. and the Statutory Audit Directive of 2006 in the EU. The aims of the article are: 1) to explain different backgrounds of external quality assurance systems in the EU and the U.S., 2) to describe implemented practices related to the public oversight system in the two regions and 3) to present the main findings of the existing empirical research focusing on the impact of the newly established systems of public oversight on the quality of audit services. Our literature research reveals that the evidence on the impact of the public oversight on the ultimate audit quality in the EU has not yet been provided because the Member States have only finished the implementation of the Statutory Audit Directive requirements into national legislations by the year 2008. In the U.S., on the other hand, first empirical evidence has been presented, suggesting that the quality of auditing has improved after the passing of the Sarbanes Oxley Act of 2002. So far evidence has been provided to support the proposition that PCAOB opinions are associated with earnings quality of the audit firm’s clients, that auditors have become more conservative and that the new inspectors (as opposed to the former system of self-regulation) can hold the auditors to stricter standards by taking concrete actions against felonious auditors and imposing costly penalties.

scholarly journals Challenges in Quality Assurance: A Ten-Year Journey

2020 ◽  
Vol 76 ◽  
pp. 01016
Author(s):  
Jenny Mochtar ◽  
Gan Shu San
Keyword(s):  
Higher Education ◽  
Quality Assurance ◽  
Higher Education Institutions ◽  
Academic Standards ◽  
External Quality Assurance ◽  
Internal Quality ◽  
External Quality ◽  
Christian University ◽  
Internal Quality Assurance

Academic quality is defined as the equivalent to academic standards related to student learning outcomes, which consist of specific levels of knowledge, skills, and abilities achieved by students participating in a program. The achievement of academic standards is accommodated by implementing both internal and external quality assurance practices. Internal quality assurance refers to policies and practices used by the higher education institutions to monitor and improve the quality of their education, while external quality assurance refers to policies and practices set up by external parties to assure the quality of higher education institutions and programs. Petra Christian University has built and implemented its internal quality assurance since 2009 based on its unique quality culture. After its ten-year journey and the achievements that Petra Christian University has reached in 2019, the Industrial Revolution 4.0 and Society 5.0 are challenges ahead that Petra Christian University has to face.

An in‐depth study on the impact of external quality assurance

2011 ◽  
Vol 36 (4) ◽  
pp. 465-478 ◽  
Author(s):  
Bjørn Stensaker ◽  
Liv Langfeldt ◽  
Lee Harvey ◽  
Jeroen Huisman ◽  
Don Westerheijden
Keyword(s):  
Quality Assurance ◽  
External Quality Assurance ◽  
External Quality ◽  
Depth Study ◽  
The Impact

scholarly journals Quality Assurance in Higher Education: Comparative Analysis of Provisions and Practices in Ghana   and New Zealand

2021 ◽  
Author(s):  
◽  
Godwin Utuka
Keyword(s):  
Higher Education ◽  
Quality Assurance ◽  
Comparative Analysis ◽  
New Zealand ◽  
Quality Management ◽  
External Quality Assurance ◽  
External Quality ◽  
Education In Ghana ◽  
The Government

<p>This research involves a comparative analysis of Ghanaian and New Zealand contexts and provisions of quality assurance in tertiary education. The study examined policies and practices of quality assurance in higher education in Ghana and New Zealand in order to identify those practices in New Zealand which are potentially applicable to the Ghanaian Higher Education context or which, at least, may suggest a direction for the Ghanaian government to consider for development. This study argues that although the management and practices of quality assurance in higher education in New Zealand are not without flaws, Ghana stands a better chance of tapping from the formers’ experiences in shaping its future policy direction. The quality of higher education and its improvement have always been issues of high priority on the political and educational agendas of the government and higher institutions in Ghana. Like other developing nations, Ghana has adopted various methodologies to address the question of quality in higher education similar to those in Western countries. The government of Ghana established a national quality assurance agency, the National Accreditation Board (NAB) to be responsible for quality assurance in higher education. Higher educational institutions have also adopted various processes and practices for the assurance of quality of the education provided. However, despite the fact that the literature on quality assurance framework in higher education is growing, little is available in the literature on what Ghana is doing to regulate and improve higher education quality and what has been the impact of NAB since its inception in 1993. In addition, a formal study of the commonality or diversity of approaches between Ghana and any developed nation has been lacking. A qualitative methodology was used to gain the perceptions of key practitioners in quality management systems in the two countries. Interview and documentary analysis were the main research instruments employed for data collection. The study analysed the views of a range of respondents from Ghana and New Zealand and documents from selected tertiary institutions and external quality assurance agencies in the two countries. A comparative analysis of data revealed some gaps and challenges in the Ghanaian system. This study found that though NAB has made significant impacts on the quality regime of the higher education sector in Ghana since its inception, the processes of quality management demands remains a challenge to both the institutions and NAB and much remains to be done for improvement. Quality of provision at the institutional level (internal structures, documented policies, external involvement, conduct of self assessment), and at the national level (regular monitoring, change in compliance approach, adequate qualified staff etc) are key areas requiring urgent policy attention if Ghana is to achieve the objectives of its tertiary educational reforms. On the basis of empirical evidence and life experiences from the respondents, a contribution would be made to the design of higher education policy-making with regard to the improvement of the internal and external quality assurance practices in higher education in Ghana. This study has further contributed to quality assurance literature by critically examining and comparing life responses of respondents from two countries viv-a-vis the international trend before making its recommendations. This study has further deepened the understanding of quality management practices in higher education in the two countries involved in this study.</p>

scholarly journals The Impact of Internationalization of Sarbanes-Oxley Act to the U.S. Listed Indonesian Companies

2020 ◽  
Vol 1 (2) ◽  
pp. 31-41
Author(s):  
Ahmad Fauzi ◽  
Asri Sitompul
Keyword(s):  
Stock Market ◽  
Initial Public Offering ◽  
Capital Market ◽  
Stock Exchange ◽  
Stock Exchanges ◽  
The Public ◽  
Sarbanes Oxley ◽  
Public Offering ◽  
The Impact ◽  
The U.S

In every country the existence of capital markets is fundamental in the development of the economy. Capital market, in addition to its function as a means to gather and allocate the public funds. Numerous companies attempted to fix up in order to get into a stock market and do the Initial Public Offering (IPO). But it is not an easy job, various preparations should be carried out and of course it takes some time and effort and considerable cost. In addition to stock market laws, the market is also governed by various regulations issued by the market authorities and stock exchanges as the SRO. In the U.S., the authority is the SEC and in Indonesia the capital market authority is the OJK. Stock exchanges such as the NYSE in the U.S. and Indonesian Stock Exchange (BEI) in Indonesia also issued various rules regulate all companies listed the shares in the stock exchanges. Internationalization means to bring something local to the international level. The Sarbanes-Oxley Act is supposed to applicable only in the U.S, it is not applicable in Indonesia. But the law is brought from the U.S brought to Indonesia to be applied to Indonesian companies that have the stocks listed with the U.S stock market. The application of the Act brought some problems to Indonesian companies that have to comply with all requirements stipulated in the Act.

scholarly journals Quality Assurance in Higher Education: Comparative Analysis of Provisions and Practices in Ghana   and New Zealand

2021 ◽  
Author(s):  
◽  
Godwin Utuka
Keyword(s):  
Higher Education ◽  
Quality Assurance ◽  
Comparative Analysis ◽  
New Zealand ◽  
Quality Management ◽  
External Quality Assurance ◽  
External Quality ◽  
Education In Ghana ◽  
The Government

<p>This research involves a comparative analysis of Ghanaian and New Zealand contexts and provisions of quality assurance in tertiary education. The study examined policies and practices of quality assurance in higher education in Ghana and New Zealand in order to identify those practices in New Zealand which are potentially applicable to the Ghanaian Higher Education context or which, at least, may suggest a direction for the Ghanaian government to consider for development. This study argues that although the management and practices of quality assurance in higher education in New Zealand are not without flaws, Ghana stands a better chance of tapping from the formers’ experiences in shaping its future policy direction. The quality of higher education and its improvement have always been issues of high priority on the political and educational agendas of the government and higher institutions in Ghana. Like other developing nations, Ghana has adopted various methodologies to address the question of quality in higher education similar to those in Western countries. The government of Ghana established a national quality assurance agency, the National Accreditation Board (NAB) to be responsible for quality assurance in higher education. Higher educational institutions have also adopted various processes and practices for the assurance of quality of the education provided. However, despite the fact that the literature on quality assurance framework in higher education is growing, little is available in the literature on what Ghana is doing to regulate and improve higher education quality and what has been the impact of NAB since its inception in 1993. In addition, a formal study of the commonality or diversity of approaches between Ghana and any developed nation has been lacking. A qualitative methodology was used to gain the perceptions of key practitioners in quality management systems in the two countries. Interview and documentary analysis were the main research instruments employed for data collection. The study analysed the views of a range of respondents from Ghana and New Zealand and documents from selected tertiary institutions and external quality assurance agencies in the two countries. A comparative analysis of data revealed some gaps and challenges in the Ghanaian system. This study found that though NAB has made significant impacts on the quality regime of the higher education sector in Ghana since its inception, the processes of quality management demands remains a challenge to both the institutions and NAB and much remains to be done for improvement. Quality of provision at the institutional level (internal structures, documented policies, external involvement, conduct of self assessment), and at the national level (regular monitoring, change in compliance approach, adequate qualified staff etc) are key areas requiring urgent policy attention if Ghana is to achieve the objectives of its tertiary educational reforms. On the basis of empirical evidence and life experiences from the respondents, a contribution would be made to the design of higher education policy-making with regard to the improvement of the internal and external quality assurance practices in higher education in Ghana. This study has further contributed to quality assurance literature by critically examining and comparing life responses of respondents from two countries viv-a-vis the international trend before making its recommendations. This study has further deepened the understanding of quality management practices in higher education in the two countries involved in this study.</p>

scholarly journals Developing an Operational Approach to Educational Quality Assurance in Colleges under the Office of the Vocational Education Commission in Thailand

2020 ◽  
Vol 22 (9) ◽  
pp. 67-85
Author(s):  
Ch. Chianchana ◽  
S. Na Wichian
Keyword(s):  
Quality Assurance ◽  
Vocational Education ◽  
Educational Quality ◽  
Education Quality ◽  
External Quality Assurance ◽  
Quality Of Education ◽  
Operational Approach ◽  
External Quality ◽  
Education Commission

Introduction. Improving quality assurance requires vocational education to be consistent and to be appropriate with the context of the school education. The school quality assurance operations are a driving mechanism for achieving high educational results at the next stages of education. This process will result in sustainably improving education quality. The research aims were to assess the conditions for improving the quality of education in colleges under the Office of the Vocational Education Commission (OVEC) and to analyse and evaluate the operational approach to ensuring the quality of education. Methodology and research methods. The study participants included college personnel directors, teachers, and staff selected through purposive sampling. A total of 44 participants were recruited for the context assessment: 28 people to analyse the operational approach and 39 people to assess the operational approach. The research tools included a record form to provide an educational quality assurance context, a questionnaire to determine the operational approach of educational quality assurance, and an assessment form to determine the operational approach of educational quality assurance. The data were analysed using percentage, mean, standard deviation, odds ratio, and content analyses. Results and scientific novelty. The research results show that the similar contexts of education at all courses are the standard of vocational management and the standard for creating a society of learning (cooperation in creating a society of learning). Meanwhile, the differences identified are related to the peculiarities of professional qualifications and various standards for creating a learning society (innovation, inventions, creative work and research). The analysis of the operational approach allowed the authors to find out eight internal quality assurance factors for educational quality assurance: educational quality assurance planning; design of education quality assurance; study focusing on the actual operations; following the process; selection of quality indicators and criteria according to the educational context; efficient data management; following and monitoring assessments; and reviewing revised or edited assessments. Moreover, four external quality assurance factors are identified: evidence for educational quality assurance; accreditation of educational quality assurance; assessors holding appropriate qualifications; and judgment of the assessment results. In the course of the operational approach assessment, it is established that there are high levels of feasibility and appropriateness in all aspects. The operational approach to educational quality assurance was developed using the context analysis, inputs, processes, results and concepts of internal and external quality assurance through evidence of cross-impact analysis. This method of analysis can be used to respond to educational quality assurance policy that requires that the demonstrated approach is to be easily applied in practice and requires the use of both quantitative and qualitative methods, thus creating innovations in the field of productivity-enhancing and their application in vocational education. Practical significance. The research results can be useful for directors, teachers and staff at colleges and the Office for National Education Standards and Quality Assessment in Thailand to design and develop the methods for achieving improved quality of education on a sustainable basis.

scholarly journals THE NEED AND IMPORTANCE OF PUBLIC OVERSIGHT OF AUDITING ACTIVITIES

2021 ◽  
Author(s):  
Oksana Riabchuk ◽  
Anastasiia Yasentiuk
Keyword(s):  
Quality Control ◽  
Educational Institutions ◽  
Economic Science ◽  
The Public ◽  
Foreign Countries ◽  
Domestic Legislation ◽  
Public Oversight ◽  
The Eu

The article considers the essence of public supervision of audit activities as one of the methods for improving the quality of Audit Services, Trust in the auditor based on the synthesis of the main achievements of foreign and domestic economic science. The main functions performed by the public supervision body over audit activities are described. The effectiveness of the introduction of public supervision can be analyzed using indicators of external inspections that were conducted in connection with the receipt of numerous complaints, applications and appeals from individuals and legal entities, regarding the improper performance of professional duties by audit entities based on the results of their provision of audit services, the structure of the organization of the public supervision body for audit activities has been studied. A comparative analysis of the number of external inspections of the quality control system for audit services during 2015-2019 is made, and the structure and system of Organization of the public supervision body of foreign countries such as: Sweden, USA, Estonia, France, Bulgaria, Italy, Lithuania and others is analyzed. The features of the system of financing the public supervision system in Ukraine and in foreign countries are also considered. The main directions of improving the policy of introducing public supervision are proposed, which will contribute to improving the efficiency of the functioning of public supervision and harmonizing domestic legislation with European ones. The effectiveness of introducing training of higher education applicants in higher educational institutions in the direction of deepening knowledge related to the concepts of "quality control of audit activities" and "public supervision" is considered. It is proposed to reform the management of the Audit Chamber of Ukraine and select professional independent specialists who will properly perform their duties. It is proved that the need for public supervision is an important condition for improving the quality of audit activities and a necessary step towards joining the EU. The results of the research conducted to determine the need and role of public supervision of audit activities in Ukraine, as well as its harmonization and functioning based on the use of foreign experience are summed up.

Sign in / Sign up

Export Citation Format

Share Document