Accounting

This comprehensive study has been carried to highlight and examine the factors that cognitively affect the independence of auditors barring them from executing their auditory duties successfully. The relationship between the audit function and the audit committee involved is one of the major setbacks experienced by independed auditors. Study reveals that an unstable relationship between these two figures might affect the individual objectivity due to pressure from the other party compromising the quality of report. Lack of originality and value is another demeaning factor in auditing. Value in an audit report is determined by the technicalities employed in the program design and the planning materiality. In analyzing the importance of a good planning materiality design,   Hans, Fred  Simunic stated that

The determination of Planning Materiality (PM) is an important judgment made by the auditor when designing an audit program (p.1).

Limited data availability is a major factor compromising the quality of independed audit reports. The client company should hand out all the related financial reports needed to compile an effective report. As a practicing accountant, I strongly concur with the above findings citing eminence of the factors affecting independed audits. Auditors are supposed to include in their proposal the terms and conditions addressing their request for independence in undertaking the project. Independence of auditors dictates the value of expected reports from a certain project. The office of the auditor general should provide independed auditors the power to reveal financial rackets uncovered in auditing procedures without fear of losing their contracts or jobs.