Abstract
The concluding chapter presents a summary of findings of previous chapters followed by suggestions based on current research. Finally, proposals for further research are identified. The chapter reveals that Indian regulators of the accounting and auditing profession have already taken significant steps to improve statutory auditor independence through regulatory reforms, improving ethical responsibilities and modifying quality control procedures. However, gaps and inconsistencies remain. The importance of strict disciplinary actions to ensure regulatory compliance by statutory auditors cannot be ignored, and while new measures may actually instigate for the auditor independence of appearance, this is only one half of picture. Achieving independence of mind in auditors is only possible through nurturing their inner value sense. The sustained efforts of professional institutes and industry bodies to bring ethics into accounting education, increase awareness, orientation and training and introduce recognition schemes to reward good ethical practice might be successful in making statutory auditors more ethically conscious and in touch with their inner value sense. This book recognizes that what is required is both these dimensions. It is only with both regulatory compliance and a real inner value sense that statutory auditors will be able to protect their independence and in turn safeguard stakeholder interests in the future.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
Chapter 2, Sect. 2.5, pp. 32–33
- 2.
Chapter 2, Sect. 2.7, pp. 69–70
- 3.
Chapter 2, Sect. 2.7, pp. 70–72
- 4.
Chapter 2, Sect. 2.7, pp. 72–82
- 5.
Chapter 2, Sect. 2.7, pp. 82–84
- 6.
Chapter 2, Sect. 2.7, p. 84
- 7.
Chapter 3, Sect. 3.5, pp. 117–121
- 8.
Chapter 3, Sect. 3.6.2.1, p. 150
- 9.
Chapter 3, Sect. 3.6.2.2, pp. 150–151
- 10.
Chapter 3, Sect. 3.6.2.3, p. 151
- 11.
Chapter 3, Sect. 3.6.2.4, pp. 151–152
- 12.
Chapter 3, Sect. 3.6.2.5, pp. 152–153
- 13.
Chapter 3, Sect. 3.6.2.6, p. 153
- 14.
Chapter 3, Sect. 3.6.2.7, pp. 153–154
- 15.
Chapter 3, Sect. 3.6.2.8, p. 154
- 16.
Chapter 3, Sect. 3.6.2.9, pp. 154–155
- 17.
Chapter 4, Sect. 4.6.1, pp. 193–205
- 18.
Chapter 4, Sect. 4.6.2, pp. 205–219
- 19.
Chapter 4, Sect. 4.6.3, pp. 219–236
- 20.
Chapter 4, Sect. 4.6.4, pp. 236–242
- 21.
Chapter 4, Sect. 4.6.5, pp. 242–255
- 22.
Chapter 4, Sect. 4.6.6, pp. 255–269
- 23.
Chapter 5, Sect. 5.6.1, pp. 287–297
- 24.
Chapter 5, Sect. 5.6.2, pp. 297–303
- 25.
Chapter 5, Sect. 5.6.3, pp. 303–313
- 26.
Chapter 5, Sect. 5.6.4, pp. 314–319
- 27.
Chapter 5, Sect. 5.6.5, pp. 319–327
- 28.
Chapter 5, Sect. 5.6.6, pp. 327–338
- 29.
Chapter 6, Sect. 6.6.1, pp. 360–366
- 30.
Chapter 6, Sect. 6.6.2, pp. 366–370
- 31.
Chapter 6, Sect. 6.6.3, pp. 370–378
- 32.
Chapter 6, Sect. 6.6.4, pp. 378–388
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2018 The Author(s)
About this chapter
Cite this chapter
Roy, M.N., Saha, S.S. (2018). Concluding Observations and Suggestion. In: Statutory Auditors’ Independence in Protecting Stakeholders’ Interest. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-73727-0_7
Download citation
DOI: https://doi.org/10.1007/978-3-319-73727-0_7
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-73726-3
Online ISBN: 978-3-319-73727-0
eBook Packages: Economics and FinanceEconomics and Finance (R0)