Regulating audit beyond the crisis: a critical discussion of the EU green paper

Christopher Humphrey, Asad Kausar, Anne Loft, Margaret Woods

Research output: Contribution to journalArticle

Abstract

With the European Commission making global leadership claims in the field of audit regulation, the content of its 2010 Green Paper on ‘Audit Policy: Lessons from the Crisis’ warrants careful scrutiny. Important issues raised in the Green Paper include regulatory oversight, competition in the audit market, the dangers of having very few firms with the capacity to audit global transnational corporations, professional judgement, innovative audit practices and, last but not least, social responsibility. This article analyses the principal perspectives and assumptions underpinning the construction of the Green Paper. The aims are threefold: to enhance understanding of the contemporary regulatory mindset of the European Commission, contribute to policy debate and inspire future research.
Original languageEnglish
Pages (from-to)431-457
Number of pages27
JournalEuropean Accounting Review
Volume20
Issue number3
Early online date23 Aug 2011
DOIs
Publication statusPublished - Sep 2011

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