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Adoption of International Standards on Auditing by Small and Medium-Sized Practices in Tanzania: An Examination of Critical Factors
Tanzania Economic Review
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| Title |
Adoption of International Standards on Auditing by Small and Medium-Sized Practices in Tanzania: An Examination of Critical Factors
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| Creator |
Chalu, Henry; University of Dar es Salaam
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| Description |
Tanzania, like many countries in the world, adopted international standards on auditing (ISAs) in 2004, which made it mandatory for all auditing firms to use to ensure high audit quality. Although several studies have been conducted to explore factors behind the adoption of ISAs, these studies have concentrated on large auditing firms ignoring small and medium practices (SMPs). Moreover, these studies have not focused on successful adoption as a multi-dimensional concept. Based on these gaps, this study seeks to examine the relationship between factors and successful adoption of ISAs by SMPs in Tanzania. The study employs canonical correlation analysis (CCA) as suggested by Fornell and Larcker (1980) to analyse primary data collected using self-administered questionnaire to 113 auditors working in SMPs. Empirical results show that the availability of resources, regulatory enforcement, client capacity, organizational culture, and organizational structure are positively related with successful adoption of ISA. The findings suggest that policies on the adoption of ISA should not only focus on compliance but also on resources availed to SMPs and capacity of clients involved in the auditing process. JEL Codes: M40, M41, M42Keywords: canonical correlation analysis (CCA); International Standards on Auditing (ISAs); International Standard on Quality Control 1(ISQC 1); small- and medium-sized practices (SMPs).
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| Publisher |
Dar es Salaam University Press
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| Contributor |
—
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| Date |
2020-07-06
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
https://journals.udsm.ac.tz/index.php/ter/article/view/3448
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| Source |
Tanzania Economic Review; Vol 9, No 2 (2019): TER
2507-7740 0856-3373 |
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| Language |
eng
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| Relation |
https://journals.udsm.ac.tz/index.php/ter/article/view/3448/3321
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| Rights |
Copyright (c) 2020 Tanzania Economic Review
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