There has been much discussion in the profession and by our regulators as to what "audit quality" means. Is it a concept - an absolute truth? Is it just a mindset? Can you judge it by results (e.g., PCAOB inspection findings, restatements, etc.)?

Please write an essay of about 3-4 pages on what "Audit Quality" means to you based on your assigned readings and podcast, and other research you choose to perform. Consider:

• what audit quality means in theory and in practice;
• whether (i.e., "if") it can be improved; and
• if so, how.

Answer rating: 100% (QA)

Answer Audit quality is a difficult concept to define because it means different things to different people In theory audit quality should be the highest possible standard of care that an auditor can ... View the full answer