The professional conduct of statutory auditors and the quality of statutory audit: what determinants?

Abstract

In an economic environment characterized by uncertainty, regulatory complexity, and increasing demands for financial transparency, the statutory auditor occupies a central role in strengthening corporate governance. By ensuring the reliability of financial information, the statutory auditor contributes to reinforcing stakeholders’ trust. This study analyzes the impact of the professional behavior of statutory auditors on the quality of statutory audits within Moroccan companies, with particular attention to the perceptions and expectations of chief financial officers, who play a key role in the production and communication of accounting and financial information.

From a methodological perspective, this research adopts a conceptual approach based on an analysis of the academic literature and Moroccan auditing standards, with the aim of developing a conceptual model that identifies and structures the main determinants of statutory audit quality.

The results highlight that auditor independence constitutes the central determinant of audit quality, as it ensures the objectivity of professional judgment and the credibility of financial information. However, this independence must be supported by strong technical competence, enabling auditors to detect material misstatements, as well as by relational competencies that foster effective communication with chief financial officers. The study also shows that audit quality results from the interaction between independence, technical competence, and communication quality. Furthermore, the findings indicate that the optimal relational configuration between the auditor and the chief financial officer is based on a balance between professional cooperation and the maintenance of critical distance, ensuring both effective information exchange and strict compliance with the requirements of objectivity. These findings contribute to a better understanding of the determinants of statutory audit quality in the Moroccan context and open avenues for future empirical research aimed at testing the proposed conceptual model.

Classification JEL: M49

Paper type: Theoretical Research