The Differential Impact of the Force of Law Australian Auditing Standards

Angela Hecimovic, Nonna Martinov-Bennie*

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    7 Citations (Scopus)


    This qualitative study explores whether the impact of the introduction of the legally enforceable Australian Auditing Standards (ASAs) differs between audit firms based on their size. It complements and extends the Australian Government's pre-implementation April 2006 Regulation Impact Statement (AUASB 2006) and Hecimovic et al.'s (2009)study exploring the peceptions of key stakeholders. The results of the current study, based on data from extensive interviews with auditors from small, medium and large audit firms, suggest that compliance with the legally enforceable ASAs does not appear to increase perceived audit quality or public confidence. The study also finds that the costs/benefits to small audit firms and their clients differ to those of medium and large firms, raising questions about the viability of smaller firms remaining in the audit market.

    Original languageEnglish
    Pages (from-to)183-192
    Number of pages10
    JournalAustralian Accounting Review
    Issue number2
    Publication statusPublished - 2011


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