We study regulation of the auditing profession in a model where audit quality is unobservable and enforcing regulation …

We study regulation of the auditing profession in a model where audit quality is unobservable and enforcing regulation …

Two key assumptions underlying the regulation of U.S. financial reporting are the need to mandate the certification of …

capable of facilitating the performance of market forces. An outline is given of a general theory of private quality assurance … regulation is then situated in the context defined by the presence of these safeguard mechanisms. This helps in defining the … market. By making sense of the interaction between regulation, quality attributes and private safeguards, the analysis helps …

development and use of safeguards provided by the free action of market forces. Regulation should thus aim to enable the parties …