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The Connotative Meaning of Independence in the Context of Audit: Demand and Supply Side Interpretations
Graeme L Wines,
Deakin University
ABSTRACT. This study investigates the connotative meaning of the concept of auditor independence within alternative audit engagement case contexts, utilising the measurement of meaning framework originally proposed by Osgood et al. (1957). Findings did not support the hypothesis that the three research participant groups (auditors, financial report preparers and financial report users) interpreted the connotative meaning of the auditor independence concept within a three factor E-P-A (Evaluative, Potency, Activity) cognitive structure. However, a robust and stable single factor cognitive structure was evident that was shared both between and within the participant groups. An analysis of the individual experimental cases found both similarities and differences in connotations (interpretations) of an audit firm’s independence between auditors and the other participant groups (preparers and users).
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