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The Audit SocietyRituals of Verification$
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Michael Power

Print publication date: 1999

Print ISBN-13: 9780198296034

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198296034.001.0001

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Audit, Trust, and Risk

Audit, Trust, and Risk

(p.122) 6 Audit, Trust, and Risk
The Audit Society

Michael Power

Oxford University Press

This chapter examines some of the more general implications of a society which is increasingly committed to observing itself through various kinds of auditing practice. It specifically describes the territory of social theory and the themes of democracy, surveillance, trust, and risk. The discussion starts with a consideration of the democratizing potential of audit. It also converses that the audit explosion reflects a distinctive response to the need to process risk. The theme of the ‘audit society’ indicates where the audit explosion may be leading and directs to a set of tendencies and potentials. Presently, audit operates in a regulatory space where regulators and politicians do not wish to be encumbered by systemic doubts about audit; they need to be reassured that it works or can be made to work better.

Keywords:   audit, auditing practice, risk, auditing, social theory, democracy, surveillance, regulators

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