Audit quality and independence concerns after major audit reforms within a developing country: stakeholder perceptions from Vietnam

PurposeThe purpose of this exploratory study is to investigate the perceptions of key stakeholders in Vietnam on the impact on audit quality and independence after major reforms to audit.Design/methodology/approachUsing new institutional sociology, this study seeks to explain how Vietnamese external auditors and accountants have responded to audit reforms and provides perceptions on how audit quality and independence may have been impacted. This study draws on semi-structured interviews conducted with 33 highly experienced participants, representing various stakeholder groups in Vietnam.FindingsThe findings indicate that after almost a decade since the full implementation of the Law of Independent Audit (2011) in Vietnam, the audit and assurance market in Vietnam is characterised by low quality audits, a lack of compliance with standards and auditor independence concerns, specifically amongst the smaller audit practitioners. Participants indicated that competition for new audit clients or retaining existing clients is a priority over improving audit quality and independence.Originality/valueBy examining a combination of different factors relating to audit quality and independence, the authors further demonstrate the impact of these factors in Vietnam, helping audit professionals and regulators to have a better and more meaningful understanding of that state of the audit profession. This study also considers audit concerns or issues arising because of the COVID-19 pandemic in Vietnam.

Audit quality and independence concerns after major audit reforms within a developing country: stakeholder perceptions from Vietnam

PurposeThe purpose of this exploratory study is to investigate the perceptions of key stakeholders in Vietnam on the impact on audit quality and independence after major reforms to audit. Design/methodology/approachUsing new institutional sociology, this study seeks to explain how Vietnamese external auditors and accountants have responded to audit reforms and provides perceptions on how audit quality and independence may have been impacted. This study draws on semi-structured interviews conducted with 33 highly experienced participants, representing various stakeholder groups in Vietnam. FindingsThe findings indicate that after almost a decade since the full implementation of the Law of Independent Audit (2011) in Vietnam, the audit and assurance market in Vietnam is characterised by low quality audits, a lack of compliance with standards and auditor independence concerns, specifically amongst the smaller audit practitioners. Participants indicated that competition for new audit clients or retaining existing clients is a priority over improving audit quality and independence. Originality/valueBy examining a combination of different factors relating to audit quality and independence, the authors further demonstrate the impact of these factors in Vietnam, helping audit professionals and regulators to have a better and more meaningful understanding of that state of the audit profession. This study also considers audit concerns or issues arising because of the COVID-19 pandemic in Vietnam.

Sense of belonging during a global pandemic: a case of accounting students

In this paper, we use the context of a global pandemic and subsequent movement between on-campus and online teaching to explore the concept of students' sense of belonging. We ask how the sense of belonging in accounting students has been impacted during the pandemic arid what are the lessons learned from such observations. Considering teaching and learning at University A (The University's name is blind as per the review requirement of the journal), New Zealand as a case study, and the COVID-19 pandemic as a natural experiment, we explore a sense of belonging in our accounting students. We speculate that whether the new circumstances be beneficial or detrimental to students' sense of belonging would depend on many factors. Our study offers practical implications for accounting educators and the higher education sector to enhance students' sense of belonging when facing disruption.