The aim of this thesis is to provide insights into what the concept of audit quality means for a number of parties who have responsibilities for delivering, commissioning or evaluating audit quality in practice - auditors, AC members and quality inspectors concerning. It explores the influence of internal and external factors in the auditing setting on the construction of meaning of audit quality and how meaning is symbolised in practice. This research is based on an interpretive approach employing research methods of document analysis, semi-structured interviews and a survey questionnaire. Drawing on a symbolic interactionist framework, the research illustrates the process of giving meaning to audit quality in practice. The study identifies various constructs that give meaning to audit quality in practice - auditors' characteristics, firm's characteristics, compliance obligations, the content and control of audit procedures, financial statement quality and client service orientation. It also identifies acts such as asking challenging questions, professional appearance, the quality of interaction between auditor and AC, consultation and training, and objects such as documents and records as fundamental in symbolising audit quality in practice. The study also highlights the existence of possible conflicts between some of these constructs of audit quality and the potential for problems in audit quality in practice.The research reports that the audit practitioners predominantly framed their conceptions of the meaning of audit quality around four important constructs: client service, compliance obligations, the technical audit process or content, and individual auditors' characteristics. Client service is found to have a particular importance for the practitioners' meaning of audit quality. Their construction of the meaning for audit quality is influenced by interactions with other audit market constituents as well as by economic and societal forces in the auditing environment. Auditors perceptions of what quality means in practice are underpinned by factors such as the need to legitimise the conduct of the auditor, to restore trust and confidence in the public at large about the quality of audit services, to maintain profitability and the survival of the audit firm given the competitive and commercial pressures in the audit market, and to legitimise firm methodology and the resulting audit process to outside constituents.Amongst the AC members interviewed, the meaning of audit quality appears to be associated with the characteristics of individual auditors, in particular, auditors' interpersonal and behavioural skills, attributes of the audit firm (size and industry specialisation) and financial statement quality. The findings show that AC members perceptions of audit quality significantly depend on the 'relational' rather than the technical attributes of individual auditors. The quality of the financial statements also dominates the AC members' perceptions of audit quality rather than a technical interpretation of the quality of the content of the audit process. The AC members' conception of meaning for audit quality is influenced by interaction and communication with the external auditors. For the quality inspectors, the meaning of audit quality is mainly constructed in relation to the conduct or content of an audit. Therefore, the level of challenge to the management of the audit, and the sufficiency of evidence and documentation are important for constructing their perceptions of audit quality. They also ascribe considerable importance to the internal compliance-quality control applied within the audit firm the notion of audit quality. Overall, the study describes the multifaceted meaning of audit quality and how this is influenced and shaped by interactions - based on role expectations, self-image, economic and social factors - and illustrates the way in which various acts and objects are used to represent practical meaning for the abstract concept of audit quality in practice. These findings have relevance for auditors, other parties to audit engagements, policy makers and regulators concerned with the contribution of auditing to the financial reporting system and for academic researchers seeking to develop a deeper understanding of how that contribution is achieved in practice.

The purpose of this study was to indentify collective skills and background that audit committee members must have in order to be effective. In addition, the study examined the extent of prevalence of each skill indentified, which can then be deduced into model to work out the right combination of audit members according to qualifications, experience and skills that they posses. The model can thus be used in selecting candidates to serve in audit committees. Two categories of samples selected from a list of the top 100 companies for 2008 to 2010 and a combined list of the bottom 20 companies for the 2005 to 2009 and the bottom 20 companies for 2010, compiled by Inet Bridge and published by Business Times, were used in the study. Profiles of audit committee members of companies selected in the samples, which were published in the annual reports of the respective companies in which they were serving as audit committee members were consolidated with those published on Bloomberg Business week website, http:investing.businessweek.com/research /stocks/people/ person, and thereafter summarized. The profiles indicated qualifications, professional background, business management experience and a list of companies that each member was serving or had served as a member of board of directors. Skills categories adopted in Audit Committee Institute (2006) were used in analysing expertise, experience and background of audit committee members, namely financial, business management, corporate director, legal and industry specific background. The variables were statistically tested using t-test and chi-square. The results of the study revealed that finance, corporate director and business management were necessary for an audit committee to function effectively. The study further found that legal and industry specific background were least considered skills in the composition of audit committees. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

This study attempted to discover the role of internal auditors in the professional development of audit committee members, leading to enhanced performance, through the provision of induction programmes and professional development opportunities to committee members, with due regard for the principles of good governance and international best practices. A secondary aim of this study was to propose methods to improve the relationship between the internal audit activity and audit committees in providing additional support to its members. The audit committee's needs and requirements were assessed by using the audit committee charter as the basis in identifying the responsibilities of the committee and the professional development needs of committee members in an organisation. It was found that a framework for the induction and professional development of audit committee members would be most useful to internal auditors to assist audit committees to meet their requirements and improve their performance. / Auditing / M. Com.

This study attempted to discover the role of internal auditors in the professional development of audit committee members, leading to enhanced performance, through the provision of induction programmes and professional development opportunities to committee members, with due regard for the principles of good governance and international best practices. A secondary aim of this study was to propose methods to improve the relationship between the internal audit activity and audit committees in providing additional support to its members. The audit committee's needs and requirements were assessed by using the audit committee charter as the basis in identifying the responsibilities of the committee and the professional development needs of committee members in an organisation. It was found that a framework for the induction and professional development of audit committee members would be most useful to internal auditors to assist audit committees to meet their requirements and improve their performance. / Auditing / M. Com.