The External Auditor’s Rotation Practices in Oman

Mohammad Noor  Alam; Shariq  Mohammed; Mohammad Shahfaraz  Khan

doi:10.36941/ajis-2021-0069

Authors

Mohammad Noor Alam Assistant Professor, Department of Accounting, College of Commerce and Business Administration, Dhofar University, Salalah, Sultanate of Oman
Shariq Mohammed Assistant Professor, Department of Accounting, College of Commerce and Business Administration, Dhofar University, Salalah, Sultanate of Oman
Mohammad Shahfaraz Khan Assistant Professor (Accounting & Finance), Department of Business Administration, University of Technology and Applied Sciences, Salalah, Sultanate of Oman

DOI:

https://doi.org/10.36941/ajis-2021-0069

Keywords:

Independent audit, internal audit, auditor rotation, audit committee

Abstract

Auditing is an important aspect in organizations as it helps in preventing frauds, analysis of business operations, detecting operational defects and maintaining of accounting irregularities. The audit committee is also responsible in considering identification of management as well as discussion of significant policies, judgments and estimated made pertaining to accounting aspects. It is also responsible in monitoring and managing violations if any caused within the organizations and aims mitigating corruption-related risks. This research is looking at the role of external auditors that how much they are valuable and effective for the company and whether company gets advantages from these auditors or not. To find the answers of these questions we conducted a survey and distributed 100 questionnaires to the people associated with accounting profession working in private and public sector. The data came from male and female and from the different age groups. The findings of this study revealed that independent auditing procedure is most effective as compared to internal auditing.

Received: 4 February 2021 / Accepted: 31 March 2021 / Published: 10 May 2021