Auditor independence provisions enshrined in the Sarbanes-Oxley Act （SOX） were promulgated in 2002 in response to the Errron-Anderson scandal leading to a diminution of trust in the audit profession. In seeking to r...Auditor independence provisions enshrined in the Sarbanes-Oxley Act （SOX） were promulgated in 2002 in response to the Errron-Anderson scandal leading to a diminution of trust in the audit profession. In seeking to regulate auditor independence in the name of investor protection, SOX has been heralded as ＂ground-breaking＂ public interest reform. Ironically, when one considers the substance of these reforms and contrasts them with the situation prevailing in South Africa, a different impression results. Despite the fact that South Africa is classified as a ＂developing＂ nation and one which has only recently transitioned to democracy, many of the auditor independence principles legislated under SOX have been part of generally accepted practice in South Africa since the 1950s. Accordingly, SOX may not be the progressive example of auditor regulation that it is generally perceived to be.展开更多
文摘Auditor independence provisions enshrined in the Sarbanes-Oxley Act （SOX） were promulgated in 2002 in response to the Errron-Anderson scandal leading to a diminution of trust in the audit profession. In seeking to regulate auditor independence in the name of investor protection, SOX has been heralded as ＂ground-breaking＂ public interest reform. Ironically, when one considers the substance of these reforms and contrasts them with the situation prevailing in South Africa, a different impression results. Despite the fact that South Africa is classified as a ＂developing＂ nation and one which has only recently transitioned to democracy, many of the auditor independence principles legislated under SOX have been part of generally accepted practice in South Africa since the 1950s. Accordingly, SOX may not be the progressive example of auditor regulation that it is generally perceived to be.
