In the opening vignette, the concept of audit quality indicators (AQIs) was discussed. These AQIs are quantitative

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In the opening vignette, the concept of audit quality indicators (AQIs) was discussed. These AQIs are quantitative measures that provide insight into audit quality. The intent is to have firms publish these AQIs in an audit quality report and have it publicly available.

REQUIREDa. How useful do you think AQIs are to potential clients and financial statement users?b. Do you think Canada?s regulators should require that firms provide an Audit Quality Report and publish their AQIs? Why or why not?

c. Below is an example of some common factors associated with audit quality. Propose a quantitative measure that would provide insight into that indicator.

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Auditing The Art and Science of Assurance Engagements

ISBN: 978-0134613116

14th Canadian edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Joanne C. Jones

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