Effects of quality control in accordance with quality control standard No. 1 (TSQC1) on audit quality of international auditing firms (Big 4) and local auditing firms (non-big 4) in view of auditors approved by the securities and exchange commission in Thailand

Abstract

The objectives of this research is for study of Quality Control in accordance with Quality Control Standard No.1 (TSQC1) and Audit Quality, test the difference of Quality Control in accordance with Quality Control Standard No.1 (TSQC1) and Audit Quality, test the relationship and positive impact of quality control of audit firm in accordance with Quality Control Standard No.1 (TSQC1) with Overview Audit Quality of Big 4 and Non-Big 4 Auditing Firms. This research is done by give out questionnaires and in-depth interviews method which used populations of 228 auditors certified by the Securities and Exchange Commission in Thailand by receiving 115 replied questionnaires which considered as 50 percent and using Descriptive Statistics, T-test Statistics, Pearson’s Correlation Coefficient and Stepwise Multiple Regression Analysis The results say that Quality Control in accordance with Quality Control Standard No.1 (TSQC1) in overview and individual element of Big 4 and Non-Big 4 Auditing Firms completely applied. Big 4 Auditing Firms have higher average than Non-Big 4 Auditing Firms, highest average is for ethical requirement. Audit Quality both in overview and individual element, Big 4 and Non-Big 4 Auditing Firms completely applied. Big 4 Auditing Firms have higher average than Non-Big 4 Auditing Firms, highest average is for clearness. From test hypothesis of quality control of auditing firm in accordance with Quality Control Standard No.1 (TSQC1) of Big 4 and Non-Big 4 Auditing Firms is according to assumptions by having differences in all elements while Audit Quality is according to assumptions only one element which is clearness, no difference in statistical significant. Quality Control in accordance with Quality Control Standard No.1 (TSQC1) has relationship and positive impact with Audit Quality and from prediction equation find that enhance of audit quality of auditing firm should emphasize to Quality Control in accordance with Quality Control Standard No.1 (TSQC1) in engagement performance and ethical requirement.