Abstract

This publication was awarded the Deloitte American Accounting Association Wildman medal in 2007 for contribution to public policy in accounting. This text takes us "behind closed doors" to uncover the nature of the relationship between the audit engagement partner and the company finance director in major listed companies. Based on matched interviews with finance directors and audited engagement partners of six listed companies, the book uncovers both sides' perceptions of how contentious and non contentious issues are resolved. Insights are provided about the workings of the audit process itself, how negotiation is conducted and the personal relationships and balance of power between the auditors and the board of directors.