Auditor’s independence in Portugal: the theoretical and empirical study of the remotness gap
DOI:
https://doi.org/10.5007/2175-8069.2013v10n21p159Abstract
In the audit field, independence is a difficult concept to define. It is necessary to insert such concept in its involving context, and because of that, it becomes historically mutable. Objectivity and neutrality integrate the concept of independence in audit and, therefore, the joint supply audit, even though being corroborated by its pure economic theory, has considerable costs to the auditor and to the market. Moreover, the joint supply audit also represents a threat to all stakeholders. By being a multidimensional concept, it is permanently at sight of regulators, given its importance to the efficient functioning of financial markets. Society demands independence in order to be inserted in a fundamental standard in the audit practice.
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