TY  - JOUR
AB  - Purpose– To highlight the pressures that the auditors would face in the era of globalisation and the challenges they should be willing to accept in order to maintain trust and integrity.Design/methodology/approach– A wide range of articles and journals published in international journals as well as local journals has been reviewed. The areas covered include audit fraud, true and fair view interpretation, auditor independence and role of internal auditors. Further, ideas have also been obtained from critical write‐ups in the business magazines on the fall of multinationals.Findings– A wide range of interpretation has been given by various groups of people on their understanding of the phrase “true and fair”. This has created great confusion as to the interpretation of the audit reports. This has been proven by the fall of many multinationals and the audit pioneers, Andersens. This is one of the causes of audit fraud and it is also seen that as the auditors face an enormous challenge as they enter the twenty‐first century, they should be willing to change their attitudes towards their clients. Professionalism should be in the forefront, and an overhaul in the concept of “true and fair” could probably be the solution to harmonisation of the economy.Research limitations/implications– This paper lacks statistical data on the views of the authors. It is based purely on secondary data.Practical implications– Provides awareness to the auditors, corporations and general public on the necessity to revamp the existing auditing practices. This can help the auditors not only to be professionals, but also to be seen as professionals.Originality/value– This paper provides scope for research in this area to identify whether the overhaul concept is acceptable. If yes, what should the new concept be? If no, what is the solution to the existing public outcry?
VL  - 20
IS  - 3
SN  - 0268-6902
DO  - 10.1108/02686900510585591
UR  - https://doi.org/10.1108/02686900510585591
AU  - Jayalakshmy R.
AU  - Seetharaman A.
AU  - Wei Khong Tan
ED  - Gerald Vinten
PY  - 2005
Y1  - 2005/01/01
TI  - The changing role of the auditors
T2  - Managerial Auditing Journal
PB  - Emerald Group Publishing Limited
SP  - 249
EP  - 271
Y2  - 2024/05/13
ER  -