The view from practice: Improving audit quality is a joint responsibility

Cross-border collaboration in the auditing profession is key for improving audit quality: not just between academia and practice, but also between audit firms on the one hand and clients, regulators and policy-makers on the other hand. The auditors themselves must do a better job, but clients and other stakeholders will also have to take responsibility for the collective challenge the profession is facing: enhancing audit quality and restoring societal trust. In a nutshell, this was the view from practitioners in the auditing profession during the 3rd International Conference of the Foundation for Auditing Research (FAR), June 2018. In this paper the discussions during the Conference about the need for further collaboration between academics and practitioners and the way this could be organized, are presented.