Auditing Reimagined: Navigating Stakeholder Expectations

The auditing profession stands at a crossroads. The gap between auditors' responsibilities as defined by professional standards and stakeholder expectations has never been wider. This disconnect has fuelled scepticism, eroded public trust, and intensified debates over the role of auditors in detecting fraud, preventing corporate failures, and providing assurance on non-financial disclosures. Auditing Reimagined: Navigating Stakeholder Expectations critically examines the root causes of this growing divide. From the perception of auditors as a self-interested profession, to the expansion of non-audit consultancy services and failures in communication, the authors explore the structural and systemic factors contributing to stakeholder dissatisfaction. It also considers how technological advancements, evolving regulatory landscapes, and increasing demands for environmental, social, and governance (ESG) assurance are reshaping the profession.

Through a rigorous analysis of these challenges and opportunities, Auditing Reimagined offers a compelling vision for the future of auditing―one that is more responsive, transparent, and aligned with the expectations of an evolving business environment. Educational institutions and professional bodies will find this work most useful as they reimagine audit training, equipping future auditors not only with technical expertise but also with the critical thinking skills necessary to navigate complex stakeholder demands.

Yusuf M. Sidani (PhD - CPA) is Professor of Leadership and Business Ethics at the Suliman S. Olayan School of Business, American University of Beirut (AUB), and is currently the dean at the school.

Tarek El Masri (PhD from John Molson School of Business, Concordia University; Montreal, Canada) is a Certified Internal Auditor and member of the Beta Gamma Sigma academic honor society.

Abdeljalil Ghanem, PhD is a Senior Lecturer in Accounting at the Olayan School of Business (AUB), and has published research papers on valuation, banking regulation, corporate governance, and tax evasion.