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Volume :8 Issue : 3 2001      Add To Cart                                                                    Download

Encountering Profession Development: A Study of Kuwait Audit Firms

Auther : Wael I. Al-Rashed

The objective of this study is to seek for the advancement of the accounting profession in Kuwait by identifying main problems facing auditors. The survey study reveals that the most important problems facing auditors in Kuwait include: the lack of compliance with the International Accounting and auditing Standards (IAS) which are most suitable to Kuwait environment, as well as the lack of a reputable code of conduct, the widely spread impression that auditing is mainly for detecting errors and fraud, the passive role of Kuwait Association of Accountants and Auditors, and the unethical practice to determine audit fees. Finally, the study concludes with specific recommendations in order to develop the profession such as: enforcing auditing standards and accounting principles suitable to Kuwaiti environment as well as a code of ethics, promoting further professional training and qualifications.

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Nov 19, 2019

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