The coordinative vital significance and mutually inclusive of auditng independence and competence to Australian listed companies

Independence and competence are the two fundamental characters of auditing, but the competence is always ignoring in many instances. Australia researches the competence of auditing is earlier in the world, but still exists with much insufficiency; so the study of such case in Australia is necessary and useful to other countries. This essay is to examine the importance and relationships of these two characters in Australia. By means of secondary research, the relevant evidence and argument was selected into four terms below: the status of independence and competence in Australian, the Australian auditing independence safeguard and its importance, the broadened definition of competence and its significance, and the coordinative importance and mutual inclusion between independence and competence. Based on these discussions, a conclusion can be drawn that the two characters are interrelated and vital in the same distance of auditing activity.