Audit Quality

The audit is an important element of the market economy nowadays. The main goal of this Master Thesis is to expand the concept of audit quality as a crucial characteristic of audit and define the main factors affecting audit quality. The paper is based on the data obtained from previous studies devoted to the factors affecting audit quality examined in the concrete country. To answer one of the two research questions there was a discussion of the relationships between audit quality and level of a country’s development where the audit is conducted. Seven researches were described and as a result, main drivers of audit quality were highlighted and analyzed. Also, the characteristics of the countries where audit have been performed were mentioned. This study concluded differences between factors affected audit quality in developed and developing countries; the average number of factors examined depends on the level of country’s development and also the purpose of audit that varies by country and its level of development.