Open AccessFactors Affecting the Auditor Independence: Approach of the Subject and Framework in Financial Statement Auditing in Vietnam
Author(s) -
Le Doan Minh Duc,
Nguyen Thi Hoang Yen,
Vo Hoang Ngoc Thuy,
Nguyen Thanh Hung,
Nguyen Thanh Vu
Publication year - 2020
Publication title -
xi'nan jiaotong daxue xuebao
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.308
H-Index - 21
ISSN - 0258-2724
DOI - 10.35741/issn.0258-2724.55.4.23
Subject(s) - accounting , audit , auditor independence , financial statement , business , corporate governance , auditor's report , independence (probability theory) , external auditor , internal audit , joint audit , finance , statistics , mathematics
This study employed a subject-based framework to explore the factors that affect auditor independence in financial statement auditing in Vietnam. The data collected using one-on-one interview and group discussion techniques were qualitatively analyzed through open coding, axial coding, and selective coding. Thereafter, 100 experienced practicing auditors were interviewed to confirm the results of the research. The research ndings showed that the main factors affecting auditor independence are personal characteristics of the auditor, the audit firm's environment, and legal enviroment in audit. At the same time, the research uncovered several new factors affecting auditors’ independence in Vietnam, namely, ethical awareness of auditors, learning and training, industry-specific skills, corporate governance, economic development of the country and international integration. These findings can serve to guide the management of the process of auditing financial statements while adhering to the ethical framework of auditing in Vietnam.