An exploratory study into audit independence issues in small audit firms in Zimbabwe: a case study of Matamba and Company
Njodzi, Rugare M
MetadataShow full item record
The research focused on an exploratory study into audit independence issues in small audit firms in Zimbabwe: A case study of Matamba and Company Chartered Accountants. The researcher identified auditor independence issues at Matamba and Company, problems are arising between auditors and clients, these problems are creating issues in terms of auditor independence thereby compromising the reliability and credibility of financial information.The objectives of the study are to establish the audit independence issues faced by Matamba and Company,to predict the extent to which audit independence issues are affecting the running of the running of small audit and identifying the key threats to an auditor’s independence. A review of literature was done on work written by other authors.Having seen the theoretical proposals,the researcher went on to gather data from Matamba and Company Chartered Accountants so as to establish the applicability of facts put down in literature review. The data was collected through an exploratory research design.The researcher used questionnaires and interviews to collect data from respondents. The researcher’s sample comprised of the 10 audit staff at Matamba and Company Chartered Accountants.The data collected was presented and analysed by way of graphs and tables. It was found out that small firms have audit independence issues that arise due to the services they offer to their clients and the relationship between the firm and its clients. It was recommended that the firm to increase interactions between the auditors and audit committee,consider the clients they provide audit and non-audit services to and to be able to manage the payment of overdue fees from clients before engagements.