In Italy, over the last few years, the discipline of statutory audit has undergone a series of changes in order to meet the changing needs of the economic and social context (Marchi, 2012). In 2010, with the legislative decree no.39 of January 27, the matter was thoroughly reorganized and unified to standardize the regulations of our country to the international and European framework. Among the recent additions to the decree, the introduction of quality control is a particular innovation. The aim of this work is to examine the discipline of quality control in Italy, underlining the salient aspects at a theoretical and practical level. In particular, it will examine the related regulation in the new ISQC 1, connect it with the other standards in the field of audit quality. The changes introduced by the MEF will be analyzed with the Legislative decree 135/2016 and some practical aspects of quality control relating to statistical sampling techniques will be displayed. Finally, a practical study will be presented to measure the quality of the audit taking into account some variables. It will refer to the Italian SMEs (small and medium enterprises) by verifying how the quality of the audit changes when the person appointed is internal (statutory audit board) or external (individual auditor or auditing firms) and state, also, the research limits and certain assumptions about the future development of the literature relating to quality audits. This paper is intended as a starting point to direct future research towards characteristics which have been not yet analyzed or inadequately analyzed. In addition, it is used to evaluate how the quality control will be set up in Italy in the light of recent regulatory intervention.
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|Titolo:||Quality control in the statutory audit: theoretical and practical aspects|
|Data di pubblicazione:||2017|
|Appare nelle tipologie:||1.1 Articolo in rivista|