Using the UK audit sector as a case study, this essay is focused on appraising key areas of change in this national environment and assessing the extent to which the issues and challenges related to these factors have impacted of auditor effectiveness.
The auditor role is critical to ensuring the presentation of
accurate, transparent and trustworthy financial reporting of
corporate activity and performance (Grey and Manson 2011).
However, since the spate of corporate collapses that
occurred during the 1990s and 2000s there has been
increasing debate over the effectiveness and efficiency of
auditor performance (Saudagaran 2009). Much of this debate
has been focused on issues related to the structural
development of the national and international auditing
market and its impact on issues such as auditor independence
and ethical performance.