on 31 March 2011
What is auditing? Why do we need it? What can it achieve? The answers given by the auditors are rather different from those of the public, and the fact that the public don't know more about auditing is very much in the interests of the handsomely paid auditors.
Prof. Power's ideas are carefully hidden under a dense thicket of jargon and abstraction. That's a pity, because his ideas are excellent. Prof. Power once worked as an auditor, but is clearly too reflective to have remained one for long. His insight penetrates the superstition and pseudo-science that continues to protect the auditing racket from proper public scrutiny and democratic supervision.
This book is horribly written, but worth persevering with if you want to know how auditing really works -- and how it really doesn't.
Five stars for content; one star for readability; average: Three.
on 20 December 2012
Why are individuals willing to live in an "audit society" where almost everything is checked? Perhaps they accept such monitoring because few folks would want to live under the opposite conditions, where nothing is checked. People want to know that their planes can fly, their banks won't fail and their food is safe. Thus, auditing has become ubiquitous - but does it exist only for its own sake, or does it have intrinsic value? Does it help, hurt or control society? In this reprint of his original 1997 work, accounting lecturer Michael Power explains how auditing has come to permeate the social, political, corporate and economic worlds. His short text is often a hard, dense read, but he'll broaden your understanding of auditing beyond the numbers in a ledger: Auditing, he teaches, underpins many facets of society and involves crucial questions of trust. getAbstract believes accountants, auditors and those who hire them will find this work particularly relevant, but those seeking deeper knowledge of professional practices and of how society works also will be intrigued.