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Journal articles on the topic 'Audit standards'
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1
Aleliūnas, Irmantas, and Zenona Atkočiūnienė. "Informacijos auditas kitų audito rūšių kontekste." Informacijos mokslai 54 (January 1, 2010): 7–16. http://dx.doi.org/10.15388/im.2010.0.3178.
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Mokslininkai, analizuodami informacijos auditą, pažymi šio audito svarbą ir įvairius jo aspektus, tačiau praktinėje veikloje informacijos auditas neįsitvirtinęs. Informacijos auditas dar neturi parengtų standartų ir metodikų bei labiau panašus į mokslinę veiklą. Siekiant sukurti pagrindą legitimiai bazei, straipsnyje yra atliekamas informacijos audito pozicionavimas bendroje audito aplinkoje. Tyrimo metu įvertinamos audito rūšys, jos struktūrizuojamos ir atliekama informacijos audito bei kitų audito rūšių lyginamoji analizė pagal funkcinį ir kitus požymius.Pagrindiniai žodžiai: informacijos auditas, duomenų (informacinių sistemų) auditas, veiklos auditas, atitikimo (teisėtumo) auditas, informacijos valdymas, auditorių nepriklausomumasInformation Audit in the Context of Other Audit TypesIrmantas Aleliūnas, Zenona Atkočiūnienė Summary Information auditing requires globally applicable standards that pertain specifically to information auditing. Globally applicable standards are known in financial, performance, information systems (electronic data processing) and other types of audits. However, information audit is rather scientific than practical activity – information audit standards are not agreed yet, therefore:• minimum level of acceptable performance required to meet the professional responsibilities is not yet set out • Stakeholders and shareholders have no information concerning the work of information auditing practitionersThese problems incited the purpose of the research – to analyse relationships between information audit and other audit types and to find a basis for the concepts and standards of information audit.;
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Toy, Alan, and David C. Hay. "Privacy Auditing Standards." AUDITING: A Journal of Practice & Theory 34, no. 3 (September 1, 2014): 181–99. http://dx.doi.org/10.2308/ajpt-50932.
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SUMMARY Privacy audits are an area of auditing practice that are becoming increasingly relevant to audit firms as well as to regulators such as privacy commissioners. Privacy audit reports can be a resource for consumers and groups representing them. However, there is limited consistency between the standards applied in privacy audits when compared across different auditors and across different jurisdictions. Inconsistency of standards reduces international comparability of privacy audits, thereby lowering their potential value to the entities subject to audit, and to users of the reports. We suggest a set of fundamental principles for privacy audits drawn from recent proposals for legislative and/or policy reform by leading official bodies in the U.S. and the European Union. We apply this framework to 30 privacy audit reports issued in five countries. The results show that few conform to the proposed fundamental principles. This inconsistency limits their value and effectiveness.
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Chui, Lawrence, Oksana Kim, and Byron J. Pike. "The Effect of Audit Duality on Audit Quality." Journal of International Accounting Research 19, no. 2 (April 17, 2020): 65–89. http://dx.doi.org/10.2308/jiar-19-523.
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ABSTRACT The Russian regulatory environment offers a unique audit duality situation in which public companies receive two separate financial statement audits by the same audit firm: one based on Russian Accounting Standards (RAS) and the other on International Financial Reporting Standards (IFRS). We assess whether audit duality influences audit quality, measured by modifications to the standard audit report. Using a sample of public Russian companies from 2004 to 2016, we find that audit duality significantly reduces auditors' propensity to modify the audit opinions for both the RAS and IFRS audits as compared to companies that engage a different firm for each audit. This potential reduction in audit quality is mitigated when the company is in a loss position. The presence of Big N dual auditors does not diminish the observed findings and, in fact, appears to translate into lower-quality RAS-based audits of financially distressed companies. JEL Classifications: M42; M48.
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Titera, William R. "Updating Audit Standard—Enabling Audit Data Analysis." Journal of Information Systems 27, no. 1 (February 1, 2013): 325–31. http://dx.doi.org/10.2308/isys-50427.
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ABSTRACT This paper highlights the emerging role of data analysis on the financial statement audit and its value throughout the audit process, particularly in providing audit evidence. It raises the issue of needed revisions to the Audit Standards, whether for public or private company audits, and illustrates how certain of the current Audit Standards inhibit the external auditors' use of enhanced data analysis and continuous auditing techniques. While this whitepaper identifies a few audit standards that could be revised in light of current technological capabilities, it does not purport to address all needed revisions. Rather, it recommends that a more in-depth analysis be undertaken to develop needed guidance, as well as a list of recommended changes to the standards.
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Deynega, V. N., and S. V. Kurakova. "PECULIARITIES OF INTERNAL AUDITOR STANDARDS DEVELOPMENT AND APPLICATION OF INTERNAL WHEN APPLYING ISA." Scientific bulletin of the Southern Institute of Management, no. 4 (December 30, 2017): 40–44. http://dx.doi.org/10.31775/2305-3100-2017-4-40-44.
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This article examines the objectives, basic principles, the procedure for developing internal audit standards (in audit organizations) when applying ISAs in the practice of the Russian audit. We analyzed the theses of the Federal rules of auditing standards which were used before 2017, and the theses of ISQC 1 «Quality control for firms that perform audits and reviews of financial statements and other assurance and related services engagements» in order to find out the difference between their requirements to internal audit standards. We considered the role of internal audit standards (in an audit organization) when building up the quality control system in consideration with ISQC and defined the basic requirements internal audit standards should meet according to quality control system conception.
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Kadous, Kathryn. "The Effects of Audit Quality and Consequence Severity on Juror Evaluations of Auditor Responsibility for Plaintiff Losses." Accounting Review 75, no. 3 (July 1, 2000): 327–41. http://dx.doi.org/10.2308/accr.2000.75.3.327.
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This study investigates whether providing higher quality audits increases auditors' chances of avoiding legal liability. Negligence rules hold auditors responsible for plaintiff losses only when the quality of the audit provided fails to meet standards of care. The results of my experiment suggest that the ex post observed consequences of audit failure can affect the standards of care to which jurors hold auditors. Specifically, participants serving in the role of jurors assessed higher standards of care for auditors when the consequences of audit failure were more severe. Furthermore, when the consequences of audit failure were more severe, participants' evaluations of the auditor did not depend on the quality of the audit provided—auditors who provided higher quality audits were evaluated just as negatively as those who provided lower quality audits. In contrast, when audit failure led to only moderately negative consequences, auditors who provided higher quality audits received more favorable evaluations. These results suggest that providing higher quality audits will not necessarily protect auditors from legal liability when the consequences of audit failure are severe.
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Steele, Jonathan, Janice Duncan, and Angela Short. "An audit of anti-muscarinic drug use at the State Hospital." Psychiatric Bulletin 24, no. 2 (February 2000): 61–64. http://dx.doi.org/10.1192/pb.24.2.61.
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Aims and MethodThis paper is based on two audits carried out in 1996 and 1998 atThe State Hospital, Carstairs. Each audit looked at anti-muscarinic drug use within the hospital, in relation to approved prescribing standards issued in 1996. All patients within the hospital on anti-muscarinic drugs were identified at the timeof each audit. These prescriptions were compared with the approved prescribing standards. In the 1998 audit additional information was obtained from the case notes and the consultants, when the approved standards were not met.ResultsThe percentage of patients on regular anti-muscarinic drugs, falling outwith the prescribing standards, reduced between the two audits. However, in 1998 a small number of patients were still outwith the approved prescribing standards set in 1996.ConclusionsAn improvement in the prescribing practice of anti-muscarinics occurred following the introduction of prescribing guidelines. However, the guidelines were not fully met in the 1998 audit. This demonstrates the need for further audit and continued monitoring of anti-muscarinic prescription at the State Hospital.
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Le, Thi Thu Ha, and Thanh Thuy Pham. "Assessment of the quality of the audits of Vietnamese commercial banks financial statements." Mezhdunarodnaja jekonomika (The World Economics), no. 3 (March 1, 2021): 232–38. http://dx.doi.org/10.33920/vne-04-2103-06.
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The aim of the research is to assess the quality of the audits of Vietnamese commercial banks’ fi nancial statements in recent years. Two audit quality indicators are used in the assessment: fi rstly, the quality of the audit reports and the audited fi nancial statements; and secondly, the quality of the factors aff ecting audit quality. One of the factors aff ecting audit quality the characteristic of audit organizations such as the scale of the organizations, the level of knowledge in the fi eld of banking audit, Qualifi cations and experience of auditors, Independence of the auditor and the audit organization, Cost of the audit, Audit procedures, Audit quality control. Other factors are quality control of audit of fi nancial statement of commercial banks; communication between banking supervisors; legislative base (system of accounting standards, standards on auditing); and the eff ectiveness of the internal control system (ICS) of commercial banks. To study and assess the quality of the audits of commercial banks’ fi nancial statements, the authors conducted questionnaires, interviews on audit and study of audited accounting (fi nancial) statements. The result of the research indicates that the audits of Vietnamese commercial banks’ fi nancial statements have basically met the quality required by the current auditing standards. However, there are still some shortcomings in audit methodology and procedures, audit reports and audited fi nancial statements. The authors also suggest some measures to the audit fi rms and government bodies to improve the audit quality.
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Knechel, W. Robert. "Do Auditing Standards Matter?" Current Issues in Auditing 7, no. 2 (April 1, 2013): A1—A16. http://dx.doi.org/10.2308/ciia-50499.
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SUMMARY Properly understanding the economic role of auditing standards is an important step toward improving both audit effectiveness and efficiency. In this essay, I observe that auditing standards are most important when an auditor may have an incentive to under-audit. While this conclusion may not come as a surprise, the conditions under which standards may, or may not, have a desirable effect on audit quality are less obvious. More specifically, I present a number of observations about what standards can do: Standards can (1) compensate for the lack of observability of the audit outcome by focusing on the audit process; (2) partially mitigate the information advantage possessed by the auditor as a professional expert that might motivate the auditor to under-audit; (3) counterbalance the diversity of demand across multiple stakeholders that might drive the audit to the lowest common denominator and create a market based on adverse selection; and (4) provide a benchmark that facilitates the calibration of an auditor's legal liability in the event of a substandard audit. However, I also present a number of observations about what standards should not try to do: Standards should not (1) discourage the use of judgment by auditors; (2) limit the potential demand for economically valuable alternative levels of assurance; (3) lead to excessive procedural routine or standardization in the conduct of the audit; and (4) be set based on an enforcement agenda. In the end, standards overreach may undermine the economic value of the audit to many stakeholders and lead to fee pressure for audit firms. Hopefully, these insights can inform future debates about the level and types of standards that are appropriate for the auditing profession.
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Guryel, E., K. Acton, and S. Patel. "Auditing Orthopaedic Audit." Annals of The Royal College of Surgeons of England 90, no. 8 (November 2008): 675–78. http://dx.doi.org/10.1308/003588408x318147.
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INTRODUCTION Clinical audit plays an important role in the drive to improve the quality of patient care and thus forms a cornerstone of clinical governance. Assurance that the quality of patient care has improved requires completion of the audit cycle. A considerable sum of money and time has been spent establishing audit activity in the UK. Failure to close the loop undermines the effectiveness of the audit process and wastes resources. PATIENTS AND METHODS We analysed the effectiveness of audit in trauma and orthopaedics at a local hospital by comparing audit projects completed over a 6-year period to criteria set out in the NHS National Audit and Governance report. RESULTS Of the 25 audits performed since 1999, half were presented to the relevant parties and only 20% completed the audit cycle. Only two of these were audits against national standards and 28% were not based on any standards at all. Only a third of the audits led by junior doctors resulted in implementation of their action plan compared to 75% implementation for consultant-led and 67% for nurse-led audits. CONCLUSIONS A remarkably large proportion of audits included in this analysis failed to meet accepted criteria for effective audit. Audits completed by junior doctors were found to be the least likely to complete the cycle. This may relate to the lack of continuity in modern medical training and little incentive to complete the cycle. Supervision by permanent medical staff, principally consultants, and involvement of the audit department may play the biggest role in improving implementation of change.
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Masters, Megan, Anna Tikina, and Bruce Larson. "Forest certification audit results as potential changes in forest management in Canada." Forestry Chronicle 86, no. 4 (July 1, 2010): 455–60. http://dx.doi.org/10.5558/tfc86455-4.
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An analysis of CSA, FSC, and SFI audit conditions was conducted identifying areas requiring operational changes to obtain certification. Audit reports for each standard differed in both number and focus of requirements. The FSC audits required more changes in environmental, social and economic themes, while CSA and SFI audit reports emphasized changes in management systems and aquatic ecosystems management. Although not a guarantee of changes in operations and management, the audit conditions point towards areas where forest certification can potentially have impacts on forest management.Key words: forest certification, standards, audit conditions, forest management
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Srinivasan, D. P., and N. J. Birch. "Audit standards in lithium therapy." Lancet 341, no. 8840 (January 1993): 311. http://dx.doi.org/10.1016/0140-6736(93)92668-j.
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R. Bajekal, M. Z. Michel, T. C. Li, N. "Audit standards in ectopic pregnancy." Journal of Obstetrics and Gynaecology 20, no. 2 (January 2000): 119–25. http://dx.doi.org/10.1080/01443610062832.
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Matytsina-Quinlan, Lyubov Alexandrovna. "Jaydess audit standards and benefits." BMJ Sexual & Reproductive Health 45, no. 4 (August 7, 2019): 314–15. http://dx.doi.org/10.1136/bmjsrh-2019-200308.
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Thacker, Paul. "Tool to audit liaison standards." Primary Health Care 3, no. 9 (October 1, 1993): 25. http://dx.doi.org/10.7748/phc.3.9.25.s22.
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Miah, Muhammad Shahin, Haiyan Jiang, Asheq Rahman, and Warwick Stent. "Audit effort, materiality and audit fees: evidence from the adoption of IFRS in Australia." Accounting Research Journal 33, no. 1 (January 2, 2020): 186–216. http://dx.doi.org/10.1108/arj-06-2018-0103.
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Purpose This paper aims to investigate the association between International Financial Reporting Standards (IFRS) effort due to higher levels of material adjustments and audit fees. In addition, this paper tests whether these associations differ between industry specialist auditors and non-specialist auditors. Design/methodology/approach The authors measure IFRS effort by using differences between local GAAP and IFRS. More specifically, they measure the differences in the balances of accounts that are prepared under IFRS as opposed to the previously used Australian Accounting Standards Board (AASB) standards. They posit that higher material adjustments and more risk to fair presentation of financial statements require additional accounting and auditing effort (“IFRS effort”). Findings The authors find that audit fees are higher when accounting standards are more material and complex at an aggregate level. Nevertheless, not all standards are equally complex and/or material and not all individual standards contribute to higher audit fees. In addition, the results show that the positive association between IFRS effort and audit fees is more pronounced when firms are audited by city-level industry specialists than by non-industry specialists. Originality/value Overall, the results are consistent with the prediction of increasing audit fees for firms requiring higher levels of IFRS effort compared to firms requiring lower levels of IFRS effort. The results contribute to the understanding that not all IFRS are equally complex and, thereby, the standards require different levels of auditor effort. Isolating specific standards based on materiality/risk levels is informative to standard setters for standard setting, standard implementation and post-implementation review of standards.
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Alzeban, Abdulaziz. "Influence of audit committees on internal audit conformance with internal audit standards." Managerial Auditing Journal 30, no. 6/7 (July 6, 2015): 539–59. http://dx.doi.org/10.1108/maj-12-2014-1132.
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Purpose – This study aims to provide empirical evidence of the association between audit committee characteristics and internal audit conformance with the International Standards for the Professional Practice of Internal Auditing (ISPPIA). Design/methodology/approach – Seventy-four usable responses were received from a survey of chief internal auditors (CIAs) from Saudi companies listed on the Saudi Stock Exchange. Findings – The results indicate that audit committee characteristics (the presence of independent members on the committee, members’ expertise in auditing and accounting and meeting with the CIA) influence internal audit conformance with the ISPPIA. Additionally, they demonstrate that such conformance is also influenced by CIA tenure. Practical implications – The findings of this study also have significant implications for audit committees wishing to improve their overall effectiveness, by identifying the impact of the committee’s characteristics on internal audit conformance with the ISPPIA. Originality/value – The results add to the literature on internal audit standards by introducing a Middle Eastern perspective and simultaneously providing insights for companies in their attempts to adhere to the international standards, hence, supporting efforts towards good corporate governance.
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Nevidomyi, V., Yu Myronenko, K. Kanonishena-Kovalenko, and Ya Horobchuk. "IMPLEMENTATION OF INTERNATIONAL STANDARDS OF SUPREME AUDIT INSTITUTIONS TO THE FINANCIAL AUDITS OF THE ACCOUNTING CHAMBER OF UKRAINE." Bulletin of Taras Shevchenko National University of Kyiv. Economics, no. 208 (2020): 32–41. http://dx.doi.org/10.17721/1728-2667.2020/208-1/4.
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The peculiarities of financial audits conducted by the Accounting Chamber of Ukraine according to a methodology that meets the requirements of ISSAI are explored. The Financial Audit Manual with detailed instructions, audit procedures, and templates of audit documentation, elaborated by the Accounting Chamber and international partners in 2019, is considered. The analysis of the experience of 31 European SAIs showed that most of SAIs do not publish audit manuals, in particular, only SAI of Albania, Georgia, Lithuania, Moldova, and Romania provided free access to financial audit manuals. The methodological recommendations for conducting the financial audit by the Accounting Chamber of Ukraine, adopted and published in 2015, cover all the issues that are outlined in such manuals of SAIs from those countries..Besides, the risks of providing open access to the Financial Audit Manual, elaborated by the Accounting Chamber of Ukraine were detected. They are the risks of fraud by officials of audited entities, not detecting a material risks by auditors, the use of intellectual property of the Accounting Chamber for commercial purposes by other entities and reputational risks due to breach of agreements with international partners involved in the development of the manual. The Financial Audit Manual was tested on six financial audits conducted by the Accounting Chamber in 2019 and main results are analyzed in the paper. Significant deficiencies of internal control, fraud risks and risks associated with accounting, budgeting and financial reporting software, and the need of improvement in accounting policies, internal control and workflow in all audit entities were identified. Additionally,, the audit results are presented in a user-friendly format tailored to the needs of decision- makers, with an emphasis on issues that require rapid response. Based on the conducted analysis, the conclusions about the low quality of financial and budgetary reporting of public sector entities and the systematic nature of identified problems and risks were made. Thus, the importance of financial audits was emphasized and the proposals for further improvement of this type of audit of the Accounting Chamber were elaborated. In particular, updating of the legislation and internal documents, usage of modern information technologies and software for audits, translation of ISSAI, training for staff, changes in personnel policy, improvement of the quality control system.
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Mahsun, Mohamad, Nafsiah Mohamed, Sharifah Norzehan Syed Yusuf, and Indrawati Yuhertiana. "Investigating Fraud Risks Assessment Practices in Public Sector Audits." Asia-Pacific Management Accounting Journal 16, no. 1 (April 30, 2021): 183–205. http://dx.doi.org/10.24191/apmaj.v16i1-08.
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Fraud Risk Assessment (FRA) is claimed to be an important activity at the audit planning stage in both the private and public sectors. In fact, because of the importance of FRA activities, Auditing Standards (SAS 99, ISA 240, ISSAI 1240) have required auditors to carry out FRAs at the audit planning stage. FRA is considered as the core activity of financial audit planning because of the impact of fraud on the sustainability of an entity, quality of life, and economic growth. This study aimed to determine the practice of FRA in public sector audits and to find out more about the obstacles faced by auditors during the audit process and to find out the causes of these obstacles by considering the approach to the Audit Standards used. This study found that auditors’ performance can be determined based on their complete compliance with audit standards. We have encountered a serious problem that requires firm action from the government or a competent official, namely the auditor’s willingness in preparing the Fraud Risk Assessment Matrix. In addition, we recommend the Audit Standards Board to adopt international public sector auditing standards and disseminate them through training for auditors, students, and professionals. Keywords: fraud risk assessment, public sector audit, auditor competency
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Wilson, L. S., P. Devitt, and O. Hally. "Standards of prescription writing in a long-term psychogeriatric unit: a series of clinical audits." Irish Journal of Psychological Medicine 32, no. 2 (October 13, 2014): 197–204. http://dx.doi.org/10.1017/ipm.2014.58.
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ObjectiveThe aim of this study was to improve the quality of prescription writing in a long-term psychogeriatric inpatient unit by a combination of serial audits and interventions designed to address the identified deficiencies.MethodsWe undertook three clinical audits of the prescription sheets used in an inpatient unit providing continuing care for residents with severe and enduring mental illness and dementia. Based on the findings of the first audit a set of prescribing guidelines was implemented into the ward. Following the second audit a new prescription sheet was developed. The format of the new prescription sheet was designed to account for the needs of the unit and to adhere to Irish and UK best practise guidelines. Two months after its introduction we undertook a third audit.ResultsCompletion of the drug sensitivity box increased from 25% at audit one to 100% at audit three. Other specific aspects of prescription writing that had been poor at the beginning of the audit cycle also showed improvement: prescribing of generic psychotropic drugs increased by 69% and inclusion of the prescribers Medical Council Registration Number increased by 78%. However, some basic aspects of prescription writing remained weak such as frequency of drug administration and documentation of the stop/review date for ‘as required’ medication.ConclusionThe results of this study suggest that clinical audit and feedback can improve the quality of prescriptions in an in-patient setting.
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Fauzi, Ahmad, and Ach Faqih Supandi. "Perkembangan Audit Syariah Di Indonesia." Jurnal Istiqro 5, no. 1 (January 30, 2019): 24. http://dx.doi.org/10.30739/istiqro.v5i1.339.
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Shari'ah audits, especially in Indonesia, have opportunities in Indonesia with the world's largest Muslim majority population. And the shari'ah audit challenges for future development are better, including (1) regulatory issues such as shari'ah audit standards that are inadequate, the absence of a sharia audit framework and lack of encouragement from the government. (2) Problems of human resources such as the qualifications of shari'ah auditors in accounting and syari'ah are not balanced, the limited number of shari'ah auditors, lack of accountability of shari'ah auditors (DPS) and shari'ah auditors (DPS) are less independent. (3) Audit process problems such as DPS are not yet equipped with sharia audit procedures, Ex-ante and audit ex-poses have not been maximized and the separation of financial audits with sharia audits.
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Dennis, Sean A., Denise Dickins, Christine E. Earley, Christine Nolder, and Tammie J. Schaefer. "Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on PCAOB Rulemaking Docket Matter No. 042: PCAOB Release No. 2017-005, Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and Proposed Auditing Standard— Dividing Responsibility for the Audit with Another Accounting Firm." Current Issues in Auditing 12, no. 1 (March 1, 2018): C11—C18. http://dx.doi.org/10.2308/ciia-52090.
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SUMMARY On September 26, 2017, the Public Company Accounting Oversight Board (PCAOB) solicited public comments on Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and Proposed Auditing Standard—Dividing the Responsibility for the Audit with Another Accounting Firm. The supplemental request for comment seeks commenters' views on the proposed amendments and standard related to audits involving accounting firms and individuals other than the accounting firm that issues the audit report. The comment period ended on November 15, 2017. This commentary summarizes the contributors' views on these amendments. Data Availability: The supplemental request for comment Proposed Amendments Relating to the Supervision of Audits Involving Other Auditors and Proposed Auditing Standard—Dividing Responsibility for the Audit with Another Accounting Firm is available at: https://pcaobus.org/Rulemaking/Docket042/2017-005-other-auditors-SRC.pdf, and the comment letter sent in by the Auditing Standards Committee is available at: https://pcaobus.org/Rulemaking/Docket042/020b_AAA.pdf.
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Wedemeyer, Phil D. "A Perspective on the PCAOB—Past and Future." Accounting Horizons 28, no. 4 (August 1, 2014): 937–47. http://dx.doi.org/10.2308/acch-50889.
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SYNOPSIS The auditing of financial statements of public companies in the United States is now a regulated industry, and the primary instrument of its regulation is the Public Company Accounting Oversight Board (PCAOB), an entity created by the Sarbanes-Oxley Act of 2002 (SOX). The PCAOB is one element of a politicized regulatory structure and, as a result, future developments in auditing will continue to be difficult to predict. SOX requirements for PCAOB inspections of audit firms substantially increased the possibility that an audit will be subsequently evaluated despite the absence of identified errors in audited financial statements. The SOX requirement for an auditor's opinion on internal controls over financial reporting (ICFR) immediately increased audit costs and continues to generate heated political debate. In addition, certain aspects of audit quality and PCAOB inspections as well as reporting and audit standards have, or will, affect the conduct of audits and the activities of audit firms. The net effect of these changes has been to increase the cost of audits, particularly as a result of increased review, other quality control activities, and the performance of audits of ICFR, where required. In return, the quality of audits in terms of compliance with audit standards has improved significantly. However, the business models of audit firms and the processes for education and certification of accountants have remained substantially unchanged and are major influences on the quality of audits.
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Earley, Christine E., Karen L. Hooks, Jenifer R. Joe, Paul W. Polinski, Zabihollah Rezaee, Pamela B. Roush, Kerri-Ann Sanderson, and Yi-Jing Wu. "The Auditing Standards Committee of the Auditing Section of the American Accounting Association's Response to the International Auditing and Assurance Standard's Board's Invitation to Comment: Enhancing Audit Quality in the Public Interest." Current Issues in Auditing 11, no. 1 (September 1, 2016): C1—C25. http://dx.doi.org/10.2308/ciia-51565.
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SUMMARY: On December 17, 2015, the International Auditing and Assurance Standards Board (IAASB) issued an Invitation to Comment entitled Enhancing Audit Quality in the Public Interest: A Focus on Professional Skepticism, Quality Control and Group Audits (hereafter, the ITC). The ITC highlights the IAASB's discussions regarding the three separate, but related, topics: professional skepticism, quality control, and group audits, in order to solicit feedback on these topics from various stakeholders. The ITC also discusses potential standard-setting activities the IAASB could participate in to enhance audit quality. The comment period ended on May 16, 2016. This commentary summarizes the contributors' views on selected questions posed in the ITC. Data Availability: The invitation to comment (as of May 23, 2016) is available at: https://www.ifac.org/system/files/publications/files/IAASB-Invitation-to-Comment-Enhancing-Audit-Quality.pdf
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Akresh, Abraham D. "A Risk Model to Opine on Internal Control." Accounting Horizons 24, no. 1 (March 1, 2010): 65–78. http://dx.doi.org/10.2308/acch.2010.24.1.65.
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SYNOPSIS: In recent years, auditors have reported on the effectiveness of internal control, usually as part of integrated audits. The audit risk model currently in auditing standards was designed for financial statement audits, not internal control audits—a key part of integrated audits. Because the audit of processes (internal control) is conceptually different from the audit of outputs (financial statements), the auditor needs a different risk model to provide a conceptual framework for internal control audits. The model I propose1 provides the auditor a method to determine the appropriate nature, timing, and extent of testing in an integrated audit. My model is focused on the risk of material weakness, rather than the risk of material misstatement. I also show how the auditor would use two different models in an integrated audit.
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Roshchektaev, S. A., and U. Yu Roshchektaeva. "Establishing cause-and-effect relationships in the audit report as a key criterion for the value of internal audit." Scientific bulletin of the Southern Institute of Management, no. 2 (June 25, 2020): 63–69. http://dx.doi.org/10.31775/2305-3100-2020-2-63-69.
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The article considers methodological principles for increasing the value of internal audit. The primary source of the value of internal audit, the final goal of the audit report and approaches to assessing its quality are identified. Methods of establishing cause-and-effect relationships in the audit report are considered. The ontological and philosophical foundations of the cause are revealed. The requirements of International professional standards of internal audit for documenting audits are set out.
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Curtis, Emer, Christopher Humphrey, and W. Stuart Turley. "Standards of Innovation in Auditing." AUDITING: A Journal of Practice & Theory 35, no. 3 (April 1, 2016): 75–98. http://dx.doi.org/10.2308/ajpt-51462.
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SUMMARY This paper examines the impact of the development of Business Risk Auditing (BRA) on international audit standard setting and the implications regarding the potential for innovation in auditing practice. BRA was an audit methodology development promoted by the large international audit firms in the late 1990s as a significant innovation but, ultimately, it did not have the degree of impact on practice initially promised. Our analysis demonstrates that professional and regulatory priorities at the time interacted in ways that led to the most innovative elements of BRA not being advanced for inclusion in formal standards. Intriguingly this outcome was clear well before the critical attention given to auditing following Enron, which was the explanation offered for the fate of BRA in previous studies. We conclude that the capacity for innovative ideas to have a substantive influence on audit practice is highly dependent on interactions between a shifting mix of professional and regulatory interests and preferences. The BRA case illustrates how lasting innovation requires a willingness and commitment both to develop the scope of the audit and to accept variations in aspects of its execution. This will not happen if standardization per se is seen as an essential validation of successful innovation.
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Bailey, Andrew D. "Perspectives on the Public Company Accounting Oversight Board (PCAOB) 2004–2005." Accounting Horizons 28, no. 4 (July 1, 2014): 889–99. http://dx.doi.org/10.2308/acch-50877.
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SYNOPSIS This commentary reflects my experiences with the U.S. Securities and Exchange Commission (SEC) during the academic year 2000/2001 (Academic Fellow) and the two calendar years 2004–2005 (Deputy Chief Accountant [Professional Practice]). These comments reflect only my thoughts without citations in support of or contrary to those thoughts and resulting opinions. The topics covered in this commentary include: (1) early staff relations between the PCAOB and SEC in their respective roles of audit standard setter and oversight agency; (2) the PCAOB decision to act as the sole audit standard setter for registered public companies displacing the AICPA in this role; (3) the PCAOB's approach to “revising” the interim audit standards through Rule 3101, Certain Terms Used in Auditing and Related Professional Practice Standards; (4) Audit Standard 3 (AS3), Audit Documentation; and (5) Audit Standard 2 (AS2), An Audit of Internal Control over Financial Reporting Performed in Conjunction With an Audit of Financial Statements. I will also comment on several observations made by others concerning the competence of PCAOB staff and the PCAOB Board members to set audit standards and perform meaningful inspections. I conclude with a brief note on the international aspects of PCAOB actions during this period.
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Hirvonen-Kari, M., S. Salo, K. Dean, and L. Kivisaari. "Effect of clinical audits of radiation use in one hospital district in finland." Acta Radiologica 50, no. 4 (May 2009): 389–95. http://dx.doi.org/10.1080/02841850902755260.
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Background: A clinical audit is a systematic, independent, and documented process to improve the quality of radiological processes and radiation safety for patients. Purpose: To evaluate the effect of an audit process by comparing the results of two consecutive audits at the same units. Material and Methods: Audits were carried out twice at each imaging unit in the southwest hospital district of Finland: first, at the end of 2003, and again in November 2007. Both evaluations were carried out in a similar way: by interviewing personnel and examining documents, independent experts from other hospital districts ensured that diagnostic medical imaging processes at each unit were carried out according to generally accepted standards for good medical radiological procedures. The results of the consecutive audits were compared in order to analyze the effects of the clinical audits. Results: The use of radiation was in accordance with the requirements and standards of good medical procedures at every audited unit during both evaluations. The list of audit criteria was fulfilled satisfactorily on both occasions at all of the audited units, and clearly better during the second run. In the first audit, the auditors made 80 recommendations for improving diagnostic procedures and, in the second audit, 53 recommendations. During the first audit, most of the recommendations (22/80) concerned instructions in the fundamental practice of examining a patient. During the second audit, most recommendations were in the category of radiation doses. Conclusion: The clinical audit had a positive impact on the practice of work procedures in radiological departments. Most of the recommendations made after the first audit had been taken into consideration by the time of the second audit.
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Aghazadeh, Sanaz, and Marietta Peytcheva. "The Mismatch between Expectations and Realities of AS4 Audits: A Post-Implementation Research Analysis." AUDITING: A Journal of Practice & Theory 37, no. 1 (April 1, 2017): 1–19. http://dx.doi.org/10.2308/ajpt-51742.
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SUMMARY We conduct a post-implementation research analysis of AS4, a standard guiding voluntary audits of material weakness (MW) remediation disclosures, to understand the reasons for the scarcity of AS4 audits in practice. We use multiple methods (experiments, comment letter analysis, and surveys) to understand the perspectives of key stakeholders. We find that regulators' expectations of the use of the standard did not come to fruition because an equilibrium market for active use of the standard could not be achieved; that managers desire to engage in AS4 audits for the riskier MWs but do not expect the associated costs to be high; and that auditors are reluctant to audit riskier MWs and would charge a considerable risk premium. Finally, we find that investors value AS4 audits, especially for riskier MWs, and find value in an AS4 audit for those risky MWs beyond that of the year-end audit. The overall findings of our study indicate that a mismatch in the cost-benefit functions of the key stakeholders led to a lack of AS4 audits. Our findings are important given the high costs associated with auditing standards development and approval.
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Alibekova, B., and D. Jaxylykova. "System of the state audit standards." ECONOMIC Series of the Bulletin of the L.N. Gumilyov ENU, no. 1 (2019): 37–48. http://dx.doi.org/10.32523/2079-620x-2019-1-37-48.
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Mackenhauer, J., and F. Cantle. "AUDIT STANDARDS IN PAEDIATRIC SEVERE SEPSIS:." Emergency Medicine Journal 32, no. 12 (November 23, 2015): 976.1–976. http://dx.doi.org/10.1136/emermed-2015-205372.3.
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Khalid, Muhammad Kamran, Mujtaba Hassan Agha, Syed Tasweer Hussain Shah, and Muhammad Naseer Akhtar. "Conceptualizing Audit Fatigue in the Context of Sustainable Supply Chains." Sustainability 12, no. 21 (November 3, 2020): 9135. http://dx.doi.org/10.3390/su12219135.
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Organizations rely heavily on audits and compliance related activities to prove their competency, credibility, and firm performance. Sustainability audits encompass entire supply chains and are very complex due to, firstly, the global nature of supply chains and, secondly, the expansive scope of sustainability, which may include financial, manufacturing, social, and environmental audits. Adding to this dilemma is the absence of a consensus on standards related to sustainability, resulting in differences, variations, and multiple interpretations. While the frequency, complexity, and scope of audits has increased, unfortunately so has the incident of audit fraud, which has seen increasing media coverage in recent times, often implicating major multinationals and their supply chains. We posit that this trend of increasing audit activity is causing “audit fatigue”, which, in turn, may influence the audit outcome, i.e., either audit fraud or a clean audit. This study proposes that audit fatigue is a genuine issue faced by organizations and needs to be conceptualized.
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Лосева and N. Loseva. "Internal standards of audit activity «The contract for the provision of audit services." Auditor 1, no. 3 (March 25, 2015): 9–21. http://dx.doi.org/10.12737/12761.
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The article deals with the content of internal standards of auditing, order of the conclusion and content of the contract for the audit of accounting (financial) statements, the standard form contract.
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Klychova, Guzaliya, Jamila Leontieva, Alsou Zakirova, Evgenia Zaugarova, Shaukat Khusainov, and Ildus Gimadiev. "Conducting personnel audit in compliance with international standards." E3S Web of Conferences 110 (2019): 02015. http://dx.doi.org/10.1051/e3sconf/201911002015.
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The present research studies basic principles of personnel audit, considers new requirements for auditing due to the entry into force of international standards, develops working documents for the auditor that allow increasing the efficiency of personnel audit and coordinating audit procedures with the work of the personnel at the audited company, applying general scientific methods, such as systematic approach, comparison, economic-statistical method, method of systematization and generalization of data. The article describes the main stages of the personnel audit, reveals mechanism for organizing, planning, conducting, and issuing the results of the personnel audit, provides specific material, which helps to develop an idea on the personnel audit fulfillment at the level of an individual economic entity. The research offers methodological toolkit of personnel audit, which makes it possible to assess the state of the personnel management system, the interests and values of an employee, his attitude to the existing problems and their comprehension.
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Abbott, Lawrence J., Susan Parker, and Gary F. Peters. "Internal Audit Assistance and External Audit Timeliness." AUDITING: A Journal of Practice & Theory 31, no. 4 (November 1, 2012): 3–20. http://dx.doi.org/10.2308/ajpt-10296.
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SUMMARY Professional standards guide external auditors to consider the effect of the client's internal audit work and opportunities to utilize the direct assistance of the internal audit function when planning and conducting audits. We examine the effect of internal audit assistance on external audit timeliness via the extent of external audit delay. We hypothesize and find that internal audit assistance is negatively associated with external audit delay. We also document moderating relationships between internal audit assistance and other internal audit environment characteristics, such as the extent of internal control reliance, coordination with the external auditor, and the investment in internal audit quality. Overall, our findings have implications for firms and external auditors who are evaluating the role and use of internal audit functions. Namely, our findings suggest that internal audit assistance may not only result in audit cost savings, but also in greater audit efficiencies. These findings are particularly germane given the challenges faced by external auditors in the form of greater audit requirements, shorter regulatory filing deadlines, resource constraints, and audit fee pressures.
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Gao, Pingyang, and Gaoqing Zhang. "Auditing Standards, Professional Judgment, and Audit Quality." Accounting Review 94, no. 6 (February 1, 2019): 201–25. http://dx.doi.org/10.2308/accr-52389.
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ABSTRACT We propose a model to study how auditing standards affect audit quality. We posit that both auditors' incentives and expertise are relevant for audit effectiveness. Auditing standards are useful in mitigating the auditors' possible misalignment of interest with investors. However, auditing standards also restrict auditors' exercise of professional judgment, which, in turn, leads to compliance mentality and reduces auditors' incentives to become competent in the first place. We identify the conditions under which stricter auditing standards increase or decrease audit quality. Moreover, stricter auditing standards always increase audit fees, but can benefit auditors at firms' expense. The model also generates many testable empirical predictions.
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Jones, Keith L., Jagadison K. Aier, Duane M. Brandon, Tina D. Carpenter, Paul Caster, Ling Lei Lisic, and Mikhail B. Pevzner. "Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the PCAOB Rulemaking Docket Matter 029: PCAOB Release No. 2011-007, Improving Transparency Through Disclosure of Engagement Partner and Certain Other Participants in Audits." Current Issues in Auditing 6, no. 1 (March 1, 2012): C1—C6. http://dx.doi.org/10.2308/ciia-50133.
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SUMMARY In October 2011, the Public Company Accounting Oversight Board (PCAOB or Board) issued a release to solicit public comment on amendments to its standards that would improve the transparency of pubic company audits. The objective of the release was to solicit public comments on a proposed standard that would (1) require registered public accounting firms to disclose the name of the engagement partner in the audit report, (2) amend the Board's Annual Report Form to require registered firms to disclose the name of the engagement partner for each audit report already required to be reported on the form, and (3) require disclosure in the audit report of other independent public accounting firms and other persons that took part in the audit. The PCAOB provided for a 91-day exposure period (from October 11, 2011, to January 9, 2012) for interested parties to examine the release and provide comments. The Auditing Standards Committee of the Auditing Section of the American Accounting Association provided the comments in the letter below to the PCAOB on PCAOB Rulemaking Docket Matter 029: PCAOB Release No. 2011-007, Improving Transparency Through Disclosure of Engagement Partner and Certain Other Participants in Audits. Data Availability: Information about and access to the release is available at: http://pcaobus.org/Rules/Rulemaking/Docket029/PCAOB_Release_2011-007.pdf
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Баутин, Vladimir Bautin, Карзаева, Natalya Karzaeva, Полидань, and Ayli Polidan. "REGULATION OF AUDITING STANDARDS WORK IN RUSSIA AND CHINA." Vestnik of Kazan State Agrarian University 11, no. 2 (July 5, 2016): 91–94. http://dx.doi.org/10.12737/20644.
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The article discusses the role and position of audit standards in the economy. On the basis of concept elements of audit standards we carried out a comparative analysis of the norms of the Chinese Law № 32 from 31 August, 1994 “On audit” and the Law of the Russian Federation №307-FZ from 30 December, 2008 “On Auditing activity”. The place of audit in the model of functioning economic entities in Russia and China was determined, the validity of recognition the audit as an independent infrastructure sector of the economy of two countries was considered, the conflict of participants interests of audit activity in Russia was reviewed and the legislative approach to solving this problem was noted, the absence of conflict of interests in carrying out audit in China was justified. A particular attention is paid to the regulation of auditing standards, confirming the concept of auditing. Based on the analysis we made a conclusion, allowing to recognize the market nature of the audit activity concepts in Russia and administrative nature in China.
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Fraser, Iain J., Julia Schwarzkopf, and Martin Müller. "Exploring Supplier Sustainability Audit Standards: Potential for and Barriers to Standardization." Sustainability 12, no. 19 (October 6, 2020): 8223. http://dx.doi.org/10.3390/su12198223.
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Global focal companies are increasingly required and expected to monitor the sustainability risks and activities in their supply chains, which has resulted in increasing supplier sustainability audit activity and growth in the number of sustainability initiatives/associations. While common, shared audit standards were originally conceived to reduce audit fatigue; with overlapping and converging supply chains there could be a need for cross-recognition or standardisation of supplier audit standards. This research aims to provide empirically grounded insight into sustainability audit activity, audit processes and standards for suppliers and the extent to which they overlap. Audit standards employed by eight multi-brand, voluntary sustainability initiatives/associations, focusing on supply chain sustainability (SMETA, PSCI, ICTI, FWF, ASI, JAC, amforiBSCI and RBA) were inductively analysed. This research compares the audit processes and standards, detecting common audit categories, analysing points of overlap and difference. We find empirical evidence of significant growth in supplier sustainability audit activity. We also find overlap among the standards in terms of audit process and steps, as well as at the level of audit focus categories. Deeper analysis reveals large differences at the granular level in terms of questions asked to assess specific topics. We conclude that there is potential for standardisation and cross-recognition but that significant barriers to agreement at the level of audit questions and how topics are evaluated remain. This research provides a first empirical overview of this important tool and its application in various industries for sustainable supply chain management.
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Harahap, Devianti, NR Handiani Suciati, Evita Puspitasari, and Sakina Rachmianty. "PENGARUH PELAKSANAAN STANDAR AUDIT BERBASIS INTERNATIONAL STANDARDS ON AUDITING (ISA) TERHADAP KUALITAS AUDIT." Jurnal ASET (Akuntansi Riset) 9, no. 1 (November 13, 2017): 55. http://dx.doi.org/10.17509/jaset.v9i1.5444.
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Abstract. An effort to improve the quality of auditing in Indonesia is achieved by applying the latest auditing standards, which refer to the International Standards on Auditing (ISA). The purpose of this research is to examine the influence of the implementation of auditing standards based on International Standards on Auditing (ISA) towards audit quality. Independent variables of this research is the effects of the implementation of auditing standards based on International Standards on Auditing (ISA) towards audit quality. The dependent variable of this research is audit quality. The method that was used in this research is descriptive method by using the survey research approach of data. The research was employed for a sample consisting of 40 auditors who work at Public Accounting Firm in Bandung which are registered in Financial Services Authority (FSA) and Big Four Public Accounting Firm . The analysis method that was used in this research is simple linear regression anlysis. The result shows that the implementation of auditing standards based on International Standards on Auditing (ISA) has a significant influence on the audit quality at 15,2%, and the rest of 84,2% is influenced by other variables which are not included in this research.Keywords: international standards on auditing (isa); audit quality Abstrak. Salah satu upaya untuk meningkatkan kualitas audit di Indonesia adalah dengan diterapkannya standar audit yang mengacu kepada International Standards on Auditing (ISA) oleh Institut Akuntan Publik Indonesia (IAPI). Penelitian ini bertujuan untuk menguji kembali apakah pelaksanaan standar audit berbasis ISA telah berpengaruh terhadap kualitas audit pada Kantor Akuntan Publik. Penelitian dilakukan dengan menggunakan variabel independen yaitu pelaksanaan standar audit berbasis ISA, sedangkan variabel dependen dalam penelitian ini adalah kualitas audit. Metode yang digunakan dalam penelitian ini adalah metode deskriptif dengan jenis penelitian survey data. Sampel yang digunakan yaitu sebanyak 40 auditor pada Kantor Akuntan Publik Komisariat Wilayah Bandung yang terdaftar di Otoritas Jasa Keuangan. Metode analisis yang digunakan dalam penelitian ini adalah analisis regresi linier sederhana. Hasil penelitian menunjukkan bahwa pelaksanaan standar audit berbasis ISA berpengaruh secara signifikan sebesar 51,6% terhadap kualitas audit, sedangkan sisanya sebesar 48,4% dapat dijelaskan oleh variabel lain diluar penelitian ini.Kata Kunci: international standards on auditing (isa); kualitas audit
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Ma, Li Ya, and Shu Feng Wang. "Design and Application Research of Audit Risk Control Program." Applied Mechanics and Materials 310 (February 2013): 718–21. http://dx.doi.org/10.4028/www.scientific.net/amm.310.718.
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Strict procedures for prevention and control of audit risk is one of the most effective measures, so the research on design of audit risk control standardization program has very great practical application value. Combined with the research needs, the CPA practices respectively utilize means of summarizing method, for example, analysis method and enumeration method. The CPA practice also revealing the audit risk and audit report risk associated with different basis, combining with the traditional audit risk model. The specific content concludes the report of audit risk and then designs including audit reports preparation, audit draft, final review report to track a feedback of visit to the control standard operating requirements, and then puts forward the independent auditing standards. The auditing standards should be added to the proposal of audit report program.
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Вапнярская, Ольга, and Olga Vapnyarskaya. "Standardization in service audit." Servis Plus 8, no. 4 (December 3, 2014): 30–37. http://dx.doi.org/10.12737/6464.
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The authors of the article studied opportunities and prospects of development of the enterprise service standards complex and defined the components of this complex. It appears that the service standards complex is necessary also for service audit. In the article the service audit is considered as a part of internal audit system and as a part of voluntary external audit. Due to this, it is necessary to ensure the continuity of practice of these types of audit with reference to the developed methodology of service audit. It is expected that the service audit is directed at the assessment of completeness of the service provided by the company and its conformity with needs of consumers. The proposal of the service audit conception presupposes the necessity to define what objects are to be standardized, what set of standards are to be created in order to conduct service audit and achieve representative results. Therefore, the authors presented the results of comparative analysis of development of inner audit methodology with regard to its procedures and principles standardization. The article comprises the main principles of service audit standardization that includes analogue method. Particularly, it was proved that it was expedient to single out the service standards complex and the complex of principles (standards) of service audit conduction. According to the authors, the first group includes service standards of various stages of the proposed product lifespan. The complex of principles (standards) of service audit constitutes the standards that allow to define the object and the subject of service audit, auditor requirements, the procedure of preparation and implementation of a service audit program, requirements for service audit results report etc.
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Banker, Rajiv D., Xiaorong Li, Steven A. Maex, and Wenyun Shi. "The Audit Implications of Cloud Computing." Accounting Horizons 34, no. 4 (June 30, 2020): 1–31. http://dx.doi.org/10.2308/horizons-19-166.
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SYNOPSIS Over the last decade, many firms have shifted from in-house managed information systems to cloud computing arrangements. Despite regulatory interest in the audit impact of new technologies, little empirical work has studied how auditors behave when clients introduce cloud platforms into their accounting information system. Ex ante, it is unclear whether cloud computing allows for increased audit efficiency through reliance on service organization control reports or introduces additional complexity and risk to the audit. Leveraging a 2015 accounting standards update from the Financial Accounting Standards Board to identify material cloud users, we find that these firms pay an audit fee premium of approximately 5 percent compared to nonusers. This premium attenuates when hiring an audit office with more cloud users in its portfolio, suggesting that cloud audit experience can reduce auditors' costs when conducting such audits. We also explore how audit lag and subsequent restatements vary cross-sectionally with cloud use. JEL Classifications: M41; M48. Data Availability: Data are available from the public sources cited in the text.
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Arvanitoyannis, Ioannis S., Konstantinos Samourelis, and Konstantinos V. Kotsanopoulos. "A critical analysis of ISO audits results." British Food Journal 118, no. 9 (September 5, 2016): 2126–39. http://dx.doi.org/10.1108/bfj-01-2016-0012.
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Purpose The purpose of this paper is to summarize and analyse the results of several food quality and safety audits (ISO 9001, ISO 22000, ELOT 1416 and Codex Alimetarius) carried out in Greek food companies processing products of animal origin. Design/methodology/approach Specifically, both a quantitative and a qualitative review of the results were carried out. Findings It was revealed that the biggest ratio of non-conformities was recorded within the frame of ELOT 1416 standard (Greek scheme for the certification of HACCP Management Systems), or ELOT 1416 and ISO 9001 where a combination of standards was used. The highest ratio of observations was recorded against ELOT 1416 when used in combination with ISO 9001. The highest average of non-conformities per audit was recorded in meat (red meat and poultry) companies. With regards to the observations recorded, the highest average per audit was recorded in companies processing eggs. Considering the number of workers, the highest average of non-conformities per audit was observed in small companies. Research limitations/implications The limitations of the present study can be summarized into the fact that although a high number of audit reports were taken into account, an audit is an observation of the condition of a company on the day of the audit and the results can also be highly dependent on the skills of the auditors. Originality/value To the best of the authors’ knowledge this is the first paper that analyses a high number of audit reports from Greek food companies and its conclusions can be of significant value to both the auditors and the industry enabling a more focused approach in the conduction of audits and implementation of the standards.
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Лосева, Н., and N. Loseva. "Quality of Audit Services and Requirements of International Auditing Standards." Auditor 4, no. 11 (December 3, 2018): 20–24. http://dx.doi.org/10.12737/article_5bfcfd3cdf8027.36662687.
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Th e article examines the concept of audit quality and its key elements, the requirements of international audit standards for audit quality control, elements of the quality control system, professional ethics and audit quality, and the content of the principle of independence.
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Steller, Marcel, and Erich Pummerer. "Auditor’s Income Taxation and Audit Quality." SAGE Open 11, no. 3 (July 2021): 215824402110408. http://dx.doi.org/10.1177/21582440211040833.
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We use an analytical research model to analyze the effect of the auditor’s personal income tax on audit effort. We show that the auditor’s level of care crucially depends on the tax rate and amount of loss recognition. Taxes may cause paradoxical effects on the auditor’s effort, audit quality, and marginal audit fee if profits and losses are taxed differently or in case of risk-averse decision-makers. Therefore, compared with the pretax setting, taxes have distortional effects. Thus, common auditing standards (e.g., International Standards on Auditing framework) will imply diverse audit quality and marginal audit fees depending on the respective national tax law. Our results are relevant for standard setters, auditors, and financial statements’ addressees.
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Pratiwi, Henny, Tertiarto Wahyudi, and Arista Hakiki. "PENGARUH KARAKTERISTIK INDIVIDU DAN MOTIVASI KERJA TERHADAP PENERAPAN STANDAR AUDIT BERBASIS PRINSIP (INTERNATIONAL STANDARDS ON AUDITING) (Studi Eksperimen Pada Mahasiswa Akuntansi Universitas Sriwijaya)." AKUNTABILITAS: Jurnal Penelitian dan Pengembangan Akuntansi 11, no. 1 (August 9, 2019): 71–86. http://dx.doi.org/10.29259/ja.v11i1.8930.
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The comprehension and application of the Principle Based Audit Standards (International Standards on Auditing) is must be done by auditors in Indonesia. However, each individual characteristic has a different way of understanding and applying that standard. This study aims to measure the influence of individual characteristics and motivation on applying Principle Based Audit Standards (ISA). This study used an experimental method with posttest only control design. Quantitative data was obtained in interval scale that states performances in applying the Principle Based Audit Standards (ISA). The experimental results show that there are interactions between individual characteristics and motivation. Individuals with non-systematic characteristic have higher performance. While individuals with systematic characteristic will have higher performance if given a motivation.
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Goicoechea, Estibaliz, Fernando Gómez-Bezares, and José Vicente Ugarte. "Improving Audit Reports: A Consensus between Auditors and Users." International Journal of Financial Studies 9, no. 2 (April 29, 2021): 25. http://dx.doi.org/10.3390/ijfs9020025.
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Audit reports represent the only information stakeholders have about conducted audits and they are a key instrument used in economic and financial decisions. Improving audit reports should be a priority of regulators and auditors. The authors solicited perceptions from 212 experienced auditors and financial report users about the value of audit reports and ways to improve their format and content. An analysis of the responses suggests that adding information on audits (such as auditor’s responsibility about fraud) and on annual accounts and client’s information systems, without significant changes in the format, would improve the decision usefulness of audit reports. The growing sophistication of markets and reporting standards requires new information in audit reports, such as auditors’ conclusions about management’s estimates in annual accounts. The study is useful to regulators, auditors’ corporations, academics, and users and contributes to the current audit literature by providing evidence on consensus between auditors and users with regard to the format and content of audit reports.
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Bradford-Knox, Richard. "Approaches to and the management of the audit process in the food industry." British Food Journal 119, no. 4 (April 3, 2017): 759–70. http://dx.doi.org/10.1108/bfj-10-2016-0484.
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Purpose The purpose of this paper is to identify the purpose of food safety auditing, effectiveness in maintaining and improving standards of food safety and ways to improve the process. Design/methodology/approach Using a grounded approach semi-structured interviews were held with actors with experience of food safety auditing. The aims and objectives being to obtain their viewpoints drawn from their experience. Findings The purpose of food safety audits should be regarded as one of continuous improvement rather than a single snapshot or policing exercise. Audits in terms of cost can be excessive because of the often high number and frequency of them. Costs can be reduced and food safety standards maintained if the number and frequency of audits is determined by the level of hazard and risk that a product or a process presents. Effectiveness of audits can also be improved if they are unannounced to make businesses “audit ready” at all times. It is also contended that unannounced audits are not applicable in all circumstances as they can increase costs by the need to maintain a group of personnel that are always available for audits. Research limitations/implications The research is limited by the scope and number of topics that were addressed in relation to the main subject. Originality/value The research value points to a need to review and better manage the audit process by risk assessing the number, frequency and type of audit a food business is subject to without lowering standards.