Entry requirements to the auditing profession: a need for harmonisation

Abstract

This paper analyses the current situation as regards entry requirements to the accounting profession from an international perspective. Auditing is a public interest service so it is regulated in different jurisdictions. Our results show that even though this service is dominated by global multinational companies and entry barriers to foreign markets seem to be falling, there is important diversity among entry requirements to the audit profession in the countries analysed. The authors support the need for international harmonization in this field by means of promoting global acceptance of the standards set by the International Accounting Education Standards Board from the International Federation of Accountants. This paper is extremely timely given the fact that the Spanish standard setter is about to make regulatory changes in this regard and has created a discussion group to this end.