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Unformatted text preview: > charteredaccountants.com.au The Institute of Chartered Accountants in Australia Professional judgment: are auditors being held to a higher standard than other professionals? Professor Ken Trotman, Centre for Accounting and Assurance Services Research, University of New South Wales The Institute of Chartered Accountants in Australia (the Institute) is the professional body representing Chartered Accountants in Australia. Our reach extends to more than 55,000 of todays and tomorrows business leaders, representing some 44,000 Chartered Accountants and 11,000 of Australias best accounting graduates who are currently enrolled in our world-class post-graduate program. Our members work in diverse roles across commerce and industry, academia, government, and public practice throughout Australia and in 107 countries around the world. We aim to lead the profession by delivering visionary thought leadership projects, setting the benchmark for the highest ethical, professional and educational standards and enhancing and promoting the Chartered Accountant brand. We also represent the interests of members to government, industry, academia and the general public by actively engaging our membership and local and international bodies on public policy, government legislation and regulatory issues. The Institute can leverage advantages for its members as a founding member of the Global Accounting Alliance (GAA), an international accounting coalition formed by the worlds premier accounting bodies. The GAA has a membership of 700,000 and promotes quality professional services to share information and collaborate on international accounting issues. Established in 1928, the Institute is constituted by Royal Charter. For further information about the Institute visit charteredaccountants.com.au About this report Professor Ken Trotman of the Centre for Accounting and Assurance Services Research, University of New South Wales, has prepared this report. All information is current as at August 2006. The Institute of Chartered Accountants in Australia The Institute of Chartered Accountants in Australia 2006 First published August 2006 Published by: The Institute of Chartered Accountants in Australia Address: 37 York Street, Sydney, New South Wales, 2000 Author: Professor Ken Trotman Professional judgment First edition National Library of Australia Cataloguing-in-Publication entry Trotman, K. T. (Kenneth Thomas). Professional judgment ISBN 1-921245-08-5 1. Auditors Professional ethics Australia. 2. Auditing Standards Australia. 3. Audited financial statements Standards Australia. I. Institute of Chartered Accountants in Australia. II. Title. ABN 50 084 642 571 The Institute of Chartered Accountants in Australia Incorporated in Australia Members Liability Limited . 0406-28 Disclaimer This discussion paper presents the opinions and comments of the author and not necessarily those of the Institute of Chartered Accountants in Australia (the Institute) or its members. The contents are for general information only.(the Institute) or its members....
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