An Overview of Factors Affecting Auditing Quality in Albania

Abstract

The effects of the financial crisis during the last decade derived by major financial scandals in major corporations and the uncertainty that still follows the economic situation has emphasized the need to regain the confidence of the users in the financial information. In these conditions, the need for certified and reliable financial information is a challenge that mostly affects the auditors, which should be stimulated to improve the audit quality. There is a wide range of studies and authors who try to determine the most influence factors that affects the auditing quality. The objective of this paper is to study how various internal and external factors like audit firm culture, quality of people, management and audit committee as well as general cultural and political factors affects the audit quality in Albania. Identifying the main factors that can improve the auditing quality in Albania can contribute to our understanding of how the Albanian auditors adopt the auditing standards to accomplish the quality control and other related reporting responsibilities. The study will be widely based on international standards on auditing and assurance engagements to identify the main factors affecting the quality control of auditing according to most popular and used classification. The objective of this study will be completed by analyzing the views from the respondents (CPA and independent auditors) obtained from the utilization of the questionnaires and interviews as well as the usage of foreign and national literature.

DOI: 10.5901/ajis.2015.v4n3s1p223