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Amanda Sonnerfeldt. Photo

Amanda Sonnerfeldt

Senior lecturer, Assistant head Accounting and Corporate Finance, Department of Business Administration

Amanda Sonnerfeldt. Photo

In pursuit of a more socially relevant audit in the context of international standardisation

Author

  • Amanda Sonnerfeldt
  • Gunilla Eklöv Alander

Editor

  • Jan Marton
  • Fredrik Nilsson
  • Peter Öhman

Summary, in English

This chapter aims to enhance our understanding of the implications international standardisation have for audit innovation at the national level. The study analyses the ways in which transnational regulation effectuates institutional constraints on audit innovation in Sweden as a setting to discuss the capacity for the audit profession to innovate and make audits more socially relevant. Based on document analysis, two standard setting initiatives which the Swedish professional association, FAR was involved are reviewed: Standard for audits of small entities; and Standard on assurance of sustainability reports. While audit is conceived to be transforming to meet contemporary societal challenges, findings reveal that audit innovation has been constrained by normative, cognitive and regulative forces interacting to reinforce international audit standardisation, thereby limiting the development of the role and conceptual foundations of audit. This chapter stresses the importance of critically reflecting on the conditions under which national professional associations engage in audit innovation. Based on our analysis of the audit innovation context, we offer ways forward to encourage policymakers, regulators, the audit profession and academia to explore the possibilities to re-think and re-conceptualise audit differently in pursuit of a more socially relevant audit.

Department/s

  • Accounting and Corporate Finance

Publishing year

2023-08-25

Language

English

Pages

19-45

Publication/Series

Auditing Transformation : Regulation, Digitalisation and Sustainability

Document type

Book chapter

Publisher

Routledge

Topic

  • Business Administration

Keywords

  • Standardisation
  • international auditing
  • regulation
  • sustainability assurance
  • SME auditing

Status

Published

ISBN/ISSN/Other

  • ISBN: 9781003411390