audit society

audit society

(M. Power, The Audit Explosion, 1994, The Audit Society, 1997) a society ‘which has come to understand the solution to many of its problems in terms of AUDIT’. (Power, 1997:5). Power's contention is that audits ‘do not passively monitor… performance ‘but shape the form of the performance in crucial ways (Power, 1994:8). Partly because they become formulaic and ‘ritualistic’ they may have side-effects and pathologies that frustrate the original intention to produce transparency and improvement of performance. The origins of an increase in audit are bound up with the phenomenon of RISK SOCIETY, with the new economic and ecological uncertainties – ‘new environments of trust and risk’ -associated with REFLEXIVE MODERNIZATION and GLOBALIZATION.
References in periodicals archive ?
In the current era, the perspective of audit society has been modified from functional view to analysis one, and auditors can promote their focused attention from data collection and interpretation, to analyzing, they can also increase the accuracy and reliability of financial statements Instead of spending energy on data collection, Furthermore, time should be managed in a way so that reports and information are available to all users.
A sixth change I call the development of the audit society.
In the wake of Enron," he said, "the possibility is that regulation is going to go much too far and that we are going to create a kind of audit society in which there is the illusion that if there are enough regulations and if you check off enough boxes, everything will be fine.
1 of article 28 of the Portuguese Commercial Companies Code, Portugal Telecom's shareholders approved today the appointment of the Statutory Audit Society, Afonso Diz & Santos Silva to evaluate payments in kind to be made in connection with the share capital increase of Portugal Telecom to be proposed at its next shareholders' meeting, to be held on August 20, 2001.