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Journal articles on the topic 'Internal audit'
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LAMBEKOVA, Aigerim, Aliya NURGALIEVA, Elmira SYZDYKOVA, Gaukhar ZHANIBEKOVA, and Josef AFF. "Development of Internal Audit." Journal of Advanced Research in Law and Economics 8, no. 8 (September 4, 2018): 2483. http://dx.doi.org/10.14505//jarle.v8.8(30).19.
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The internal audit service is not just a world trend, but an extreme necessity in the face of actively developing and more complicated economic relations. The purpose of this article is to identify the main problems of internal audit in Russia and Kazakhstan. It is argued that the notion of the correctness of internal audit provides conceptual tools for the study of internal audit as a disciplinary mechanism in the conditions of corporate governance of modern organizations. The article develops the initial conceptual formulation and internal audit, audits and controls to improve the rationality of economic activity and related control measures.
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Purnomo, Hanny, and Yustrida Bernawati. "Pengaruh Efektivitas Komite Audit, Efektivitas Internal Audit dan Kualitas Audit terhadap Pengungkapan Sukarela." E-Jurnal Akuntansi 30, no. 4 (April 23, 2020): 861. http://dx.doi.org/10.24843/eja.2020.v30.i04.p05.
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The purpose of this study is to prove the truth, internal audit, internal audit, and audit quality on voluntary disclosures in companies listed on the Indonesia Stock Exchange for the period of 2016-2018. The sample was selected using a purposive sampling technique to obtain a sample of 100 companies, the hypothesis was taken using multiple linear regression. The results of this study prove the importance of audit audits, internal audits, and audit quality applied to company voluntary disclosures.
Keywords: Effectiveness of Audit Committee; Internal Audit; Audit Quality; Voluntary Disclosure.
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Eulerich, Marc, Joleen Kremin, K. Kelli Saunders, and David A. Wood. "Internal audit stigma impairs internal audit outcomes." Corporate Ownership and Control 19, no. 1, special issue (2021): 257–71. http://dx.doi.org/10.22495/cocv19i1siart4.
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Prior research finds that the internal audit function (IAF) plays a critical role in organizations, yet there is still a stigma toward the profession. We examine how this stigma affects internal audit outcomes, using three different data sources: survey results from parts of Europe (113 observations) and the United States (124 observations) for the year 2017 and an experiment (65 observations) in 2018. We find that when internal auditors in parts of Europe and the U.S. believe there is a negative stigma about internal auditing, they report negative work outcomes, including less ability to add value, less influence in the organization, more resistance to implementing their recommendations, and more pressure to change audit findings. Our experimental results confirm the survey findings and provide further evidence that negative stigma causes participants to perceive less value in internal audit reports and that internal audit recommendations are less influential in decision-making. Taken together, the results suggest that negative perceptions of internal audit have a significant impact on the profession
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Chen, Ruisi. "Internal Control Audit Fee and Internal Control Audit Quality—Evidence from Integrated Audits." Open Journal of Business and Management 07, no. 01 (2019): 292–311. http://dx.doi.org/10.4236/ojbm.2019.71020.
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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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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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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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Christopher, Joe. "Internal audit." Educational Management Administration & Leadership 43, no. 6 (October 21, 2014): 954–71. http://dx.doi.org/10.1177/1741143214543206.
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Alqaraleh, Mithkal Hmoud, Mohammad Odeh Salem Almari, Basel J. A. Ali, and Mohammad Salem Oudat. "The mediating role of organizational culture on the relationship between information technology and internal audit effectiveness." Corporate Governance and Organizational Behavior Review 6, no. 1 (2022): 8–18. http://dx.doi.org/10.22495/cgobrv6i1p1.
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Internal audit effectiveness has become critical in helping businesses achieve their objectives. In today’s business world, information technology (IT) is frequently used in internal audit activities. Internal auditing is an important part of an organization’s control. Because internal audit and information technology play such important roles in each firm, this study looks at the function of organizational culture (OC) in mediating the link between the efficacy of information technology and internal audit in the Jordanian public sector. The study looks at this issue by gathering information from 153 internal auditors in Jordanian public enterprises. According to the findings of the study, information technology use and OC support are critical to increasing the efficacy of internal audits. The findings indicate that there is a considerable association between information technology and the efficacy of internal audits. Additionally, organizational culture has a key role in mediating the link between information technology and the success of internal audits. Future studies may examine managerial support and internal audit compliance
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Pizzini, Mina, Shu Lin, and Douglas E. Ziegenfuss. "The Impact of Internal Audit Function Quality and Contribution on Audit Delay." AUDITING: A Journal of Practice & Theory 34, no. 1 (June 1, 2014): 25–58. http://dx.doi.org/10.2308/ajpt-50848.
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SUMMARY The number of days required to complete financial statement audits (i.e., audit delay) increased significantly with the implementation of Section 404 of the Sarbanes-Oxley Act (SOX, U.S. House of Representatives 2002). As firms' in-house experts on internal control, Internal Audit Functions (IAFs) can substantially affect financial reporting processes and, thus, audit delay. Internal auditors can help management maintain strong internal controls and assist external auditors with financial statement audits. Accordingly, we investigate whether IAF quality and the IAF's contribution to financial statement audits affect audit delay in a sample of 292 firm-year observations drawn from the pre-SOX 404 period. Using survey data from the Institute of Internal Auditors (IIA), we develop a comprehensive proxy for IAF quality; we measure different aspects of IAF quality (e.g., competence, objectivity, fieldwork rigor); and we measure the nature of the IAF's contribution to financial statement audits (independently performed work and direct assistance). Results indicate audit delay is decreasing in IAF quality, and this decrease is driven by IAF competence and fieldwork quality. Delay is four days shorter when IAFs contribute to external audits by independently performing relevant work. High-quality IAFs contribute to financial statement audits by independently performing relevant work, while low-quality IAFs provide direct assistance.
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Antoniuk, Olena, Natalia Koval, Svitlana Savitska, Yaroslavna Mulyk, Natalya Kuzyk, and Marianna Koshchynets. "Development of internal control and audit in Ukraine." Independent Journal of Management & Production 12, no. 6 (November 1, 2021): s376—s390. http://dx.doi.org/10.14807/ijmp.v12i6.1761.
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Control plays an important role in ensuring the efficient use of funds, both public and business sectors of the economy. The purpose of the article is to consider the role of the State Audit Service of Ukraine in the implementation of financial state control. The study is based on the analysis of reports of the State Audit office of Ukraine on the results of state financial audits of health care institutions, which last took place in 2019. The analysis of the reports of the Ministry of Finance of Ukraine allowed to establish the effectiveness of the state financial audit at the national level during last three years. The article provides answers to the following questions: i) what tasks are performed by the State Audit office of Ukraine; ii) features of external and internal audit of public sector entities in Ukraine; iii) the effectiveness of internal audit at the national level on the basis of state financial audits; iv) problematic issues of internal audit development on the example of health care institutions; v) the main directions of development of the state internal audit in Ukraine.
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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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Turetken, Oktay, Stevens Jethefer, and Baris Ozkan. "Internal audit effectiveness: operationalization and influencing factors." Managerial Auditing Journal 35, no. 2 (December 12, 2019): 238–71. http://dx.doi.org/10.1108/maj-08-2018-1980.
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Purpose The purpose of this paper is to introduce a framework that presents how internal audit effectiveness can be operationalized and what factors are available to influence the effectiveness. Internal audits have become one of the key practices for organizations to control the adherence of their processes to standard procedures and regulations. The benefits of conducting internal audits are well acknowledged in the literature. However, it is difficult for organizations to assess the effectiveness of internal audits and to understand the factors that influence audit effectiveness. Design/methodology/approach A systematic literature review was conducted to identify relevant publications and collect and synthesize evidence on the operationalization of internal audit effectiveness and the factors that potentially influence the effectiveness of internal audits. Findings A thorough analysis of the relevant studies resulted in a comprehensive list of indicators used for the operationalization of audit effectiveness and a list of potentially influencing factors. The results of the systematic review are synthesized into a framework. Research limitations/implications The researchers should consider this study as a comprehensive source that offers pointers on the factors investigated in the literature and a basis for future research in this field to address the gaps that are identified. Practical implications Awareness about how the effectiveness of internal audits can be measured, and the factors that can potentially influence this effectiveness can help organizations to understand their current performance and ultimately improve it in the future. Originality/value The contributions of this study will help in better understanding the state of the research on internal audit effectiveness, including the influential factors, and gaps and opportunities for future research.
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Ying, Die. "State Audit's Supervision, Guidance and Utilization of Internal Audit in China." Modern Economics & Management Forum 3, no. 2 (April 25, 2022): 115. http://dx.doi.org/10.32629/memf.v3i2.777.
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In the relevant regulations and practices of the use of internal audit by state audits, there are problems that the functional boundaries of audit institutions' supervision and guidance of internal audit are ambiguous, and the methods and degrees of internal audit use lack legal constraints. These problems will undermine the independence and objectivity of internal audit and affect the quality and authority of state audit. This article focuses on considerations for determining this boundary.
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Ackermann, Christo, and Ben Marx. "Internal audit risk management in metropolitan municipalities." Risk Governance and Control: Financial Markets and Institutions 6, no. 3 (2016): 36–44. http://dx.doi.org/10.22495/rcgv6i3art7.
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Internal audit functions (IAFs) of organisations are regarded as crucial components of the combined assurance model, alongside the audit committee, management and external auditors. The combined assurance model aims at having integrated and aligned assurance in organisations with the overall aim of maximising risk and governance oversight and control efficiencies. In this regard, internal audit plays a crucial role, insofar as it consists of experts in risk, governance and control consultancy who provide assurance to senior management and the audit committee. Audit committees are dependent on internal audit for information and their effectiveness revolves around a strong and well-resourced internal audit function which is able to aid audit committees to meet their oversight responsibilities. There is thus a growing demand for managing risk through the process of risk management and internal audit is in a perfect position to assist with the improvement of such processes. If internal auditors wish to continue being an important aspect of the combined assurance model, they need to address the critical area, amongst others, of risk management as part of their work. If not, it follows that the board, audit committees and other levels of management will remain uninformed on the status of these matters which, in turn, will negatively impact the ability of these stakeholders to discharge their responsibilities. This study therefore focuses on analysing the functioning of IAFs, with specific reference to their risk management mandate. The study followed a mixed method approach to describe internal audits risk management functioning in the big eight metropolitan municipalities in South Africa. The results show that internal audit provide a broad scope of risk management work which assist senior management in the discharge of their responsibilities. However, in the public eye, internal audits risk management functioning is scant.
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Wade, Keith. "Internal environmental audits: The role of the internal audit department." Eco-Management and Auditing 2, no. 1 (March 1995): 24–31. http://dx.doi.org/10.1002/ema.201.
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Dorosh, Nina. "Use of information technologies in internal audit." Socio-Economic Problems and the State 25, no. 2 (2021): 193–201. http://dx.doi.org/10.33108/sepd2022.02.193.
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The article reveals the essence and importance of internal audit in adding value to the organization and its stakeholders by assessing and providing recommendations for improving corporate governance, risk management and control, promoting economic efficiency, sustainable growth and financial stability. The main current trends in the development of internal audit on the use of modern technologies in auditing and the growing need for internal auditors to acquire knowledge and skills of IT technologies, work with big data, knowledge in the field of cybersecurity, analytical and critical thinking skills. Using the provisions of the International Standards for the Professional Practice of Internal Auditing, the functions of internal audit to assess the adequacy and effectiveness of controls in accordance with the risks in the field of information systems of the organization. It is emphasized that internal auditors must have sufficient knowledge of the key risks and controls of information technology, as well as technological audit methods, and some of them must have the competence of the auditor, whose main responsibility is the audit of information technology. The essence, evolution of the development of the concept of information technology audit, as well as its application in the management system of the business entity, are revealed. The classification of functional types of IT audits is covered, in particular: information security audit; IT quality audit; IT project audit; systems development audit; data analysis as part of the financial audit; audit of control measures; judicial audit. It is indicated that IT audit is a separate type of audit at the enterprise, and can also be part of the financial audit process. The advantages of using computer tools and technologies in the audit, which improves internal audit processes, as well as the need and prospects for the development of computerization in the audit, are considered.
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Hamengkubuwono, Hamengkubuwono. "Evaluasi Penerapan Audit Mutu Internal Pada STAIN Curup." Tadbir : Jurnal Studi Manajemen Pendidikan 1, no. 1 (July 13, 2017): 61. http://dx.doi.org/10.29240/jsmp.v1i1.215.
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This study at evaluating the implementation of internal quality audit at STAIN Curup. The data for this study are collected through interview and documentation. Stake or countenance evaluation model is used in this study. Thus, the data analysis involves some following step as: data editing, data coding, tabulating the data, interpreting the data, and drawing conclusion. The result of this study indicates that (1) The Planning internal quality audit is relevant with, attempting to fulfill costumer’s demand, to is relevan with audi vision, audit schedule, the formulation of audit purpose, and the audit form, (2) the implementation of audit is reasonably inappropriate with the purpose and the scope of the audit, and (3) the follow up audit is relevant with the established evaluation standard. As the final thought, this study recommends STAIN Curup conduct well planned and well program internal quality audit continuously so that it can serve as self-reflection for the insitution.
Keywords : Evaluation, Internal Quality Audit.
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Saputra, Kanta Rio, Srihadi Winarningsih, and Evita Puspitasari. "The Effect of Top Management Support on The Effectiveness of Public Sector Internal Audit in Indonesia with Competence and Independence as Intervening Variables." MBIA 19, no. 3 (December 1, 2020): 243–57. http://dx.doi.org/10.33557/mbia.v19i3.1146.
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The phenomenon of corruption cases that often occur in local governments and BPK findings related to weaknesses in the internal control system indicates that the internal audit function in local governments is not yet effective. This study aims to examine and measure how much influence the factors that affect the effectiveness of internal audit in the public sector in Indonesia. The results of this study are expected to be used as a consideration for policy making by the Government, which is currently encouraging the improvement of the effectiveness of internal audit in Indonesia. The population in this study were all internal audits of local government in Indonesia. The data collected in this study were 55 internal audits of local government throughout Indonesia. The research was conducted with a quantitative approach using SEM PLS. The results showed that independence and competence had a significant effect on the effectiveness of internal audit and top management support indirectly had a significant effect on the effectiveness of internal audit through competence and independence. However, top management support directly does not have a significant effect on the effectiveness of internal audit. This research also revealed that with the support of top management to the competence and independence of internal audit, it will be able to encourage a more effective internal audit in carrying out its duties and functions.
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Kupec, Václav, Přemysl Písař, Michal Lukáč, and Gabriela Pajtinková Bartáková. "Conceptual Comparison of Internal Audit and Internal Control in the Marketing Environment." Sustainability 13, no. 12 (June 12, 2021): 6691. http://dx.doi.org/10.3390/su13126691.
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There is a conceptual problem in the adequate application of internal audit and internal control in the real business of the marketing environment. Although both of these managerial tools are theoretically defined, they are practically interchangeable in business. This limits their application. It is therefore necessary to focus on both concepts and make the theory and practice more precise or remove any overlaps. The aim of this paper is therefore a theoretical and practical comparison of internal audit and internal control concepts in the marketing environment. To fulfil this purpose and verify the hypotheses, this paper uses computer assisted self interviewing. The research was conducted in Q1 2021 with a sample of 3052 small and medium enterprises from the international environment of the EU 27. The research conclusions show a strong correlation of the theoretical perception of the terms of internal audit and internal control. At the same time, they show a weak correlation with the audit and control tools used in practice. They also define audit as planned independent assurance (soft consultation) and control as operational managerial assurance (hard comparison). This defines and clarifies scientific theories for managerial practice, thus enhancing and increasing the efficiency of internal audits and internal control in the business environment.
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Hayek, Ahmad Faisal, Malik Muhammad Sheheryar Khan, Sami E. Alajlani, Yousuf Khan, and Soha Salem El Mokdad. "The role of internal audit activity in acquiring external audit services: An empirical study of banks." Corporate Governance and Organizational Behavior Review 6, no. 3 (2022): 67–73. http://dx.doi.org/10.22495/cgobrv6i3p6.
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The role of internal auditing has received significant attention from researchers in the recent past. Due to its enormous contribution to the banking system, it has been used extensively to support other governance processes. The objective of this research paper is to explore how internal audit activity plays a role in the acquisition of external audit services in the national banks of the United Arab Emirates (UAE). Internal audit activity and external audit services represent a dynamic process of the corporate governance process. The study uses both qualitative and quantitative data to determine the role that internal auditing plays in the acquisition of external audits. The data is collected from 27 national banks in the UAE using questionnaires, hence it gives the opinions that people have about auditing as well as the figures of respondents. The study aimed to understand how the functions of internal audits contribute to the acquisition of external audits. The main contribution of this study is supporting the arguments that auditing researchers have not been fully responsive to the issues associated with changes in internal audit, services that may be offered, and internal audit’s growing function (Hayek, 2013)
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Nusa, Nabella Duta, and Siti Muslihah. "PENGARUH SERAPAN ANGGARAN, KEPEMIMPINAN ETIS, TINDAK LANJUT TEMUAN BPK, DAN KEEFEKTIFAN AUDIT INTERNAL PADA HASIL AUDIT LKPD." Nominal: Barometer Riset Akuntansi dan Manajemen 10, no. 2 (September 29, 2021): 201–13. http://dx.doi.org/10.21831/nominal.v10i2.35936.
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Abstrak: Pengaruh Serapan Anggran, Kepemimpinan Etis, Tindak Lanjut Temuan BPK, dan Keefektifan Audit Internal pada Hasil Audit LKPD. Pengelolaan anggaran merupakan aktivitas yang sangat krusial dikarenakan di dalamnya terdapat pemaparan strategi dan rencana atas pengelolaan pendapatan dan belanja sebuah instansi. Ditambah lagi dengan kenyataan bahwa aktivitas belanja Pemerintah Daerah (Pemda) harus dipertanggungjawabkan kepada masyarakat. Penelitian ini menguji secara empiris tentang pengaruh aspek keuangan berupa serapan anggaran dan aspek non keuangan berupa kepemimpinan etis, tindak lanjut temuan BPK, dan keefektifan audit internal terhadap hasil audit laporan keuangan pemerintah daerah di wilayah Provinsi Jawa Tengah dan Daerah Istimewa Yogyakarta. Penelitian ini menggunakan data primer dan sekunder dari responden yang terdiri dari seluruh Pemda yang berada di wilayah Provinsi Jawa Tengah dan Daerah Istimewa Yogyakarta, untuk menarik kesimpulan penelitian. Hasil dari penelitian ini menunjukkan bahwa serapan anggaran dan tindak lanjut temuan BPK tidak mempengaruhi pemerolehan opini audit WTP, sedangkan kepemimpinan etis dan keefektifan audit internal memiliki pengaruh positif.Kata kunci: opini audit, anggaran, kepemimpinan, audit internal, temuan audit, pemerintah daerahAbstract: The Effect of Budget Absorption, Ethical Leadership, Follow-up to BPK findings, and Effectiveness of internal audits on the Results of Audits of LKPD. Budget management is a very crucial activity because it contains a strategy and plan for managing revenue and expenditure of an institution. Coupled with the fact that the expenditure activities of Regional Government (Pemda) must be accountable to the public. This study empirically examines the influence of financial aspects in the form of budget absorption and non-financial aspects in the form of ethical leadership, follow-up to BPK findings, and the effectiveness of internal audits on the results of audits of local government financial reports in Central Java Province and Yogyakarta Special Region. This study uses primary and secondary data from respondents consisting of all local governments in the province of Central Java and Yogyakarta. The results of this study indicate that budget absorption and the follow-up of BPK findings do not affect on how the institution gets a WTP audit opinion, while ethical leadership and internal audit effectiveness have a positive effect.Keywords: audit opinion, budget, leadership, internal audit, audit findings, regional government
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Nurhaliza, Nurhaliza, Yuneita Anisma, and Devi Safitri. "PENGARUH INDEPENDENSI, KARIR DAN PENJENJANGAN, OBJEKTIVITAS, DAN PENGALAMAN AUDIT TERHADAP EFEKTIVITAS AUDIT INTERNAL." AKUNTABILITAS 15, no. 2 (July 30, 2021): 223–40. http://dx.doi.org/10.29259/ja.v15i2.13932.
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This study aims to find out the effects of independent, careers and grading, objectivity, and audit experience on the effectiveness of internal audits. This research uses purposive sampling method. The data in this research comes from a questionnaire from 52 respondents. The processing of the data in this research applies Structural Equation Model based on Partial Least Square with the help of SmartPLS 3. According to the research findings, independence and audit experience significantly affect the effectiveness of internal audits. While careers and grading and objectivity do not significantly affect the effectiveness of internal audits.
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PĂUNESCU, Mirela. "Internal Audit (I)." CECCAR Business Review 2020, no. 3 (March 30, 2020): 35–42. http://dx.doi.org/10.37945/cbr.2020.03.04.
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PĂUNESCU, Mirela. "Internal Audit (II)." CECCAR Business Review 2020, no. 4 (April 29, 2020): 46–55. http://dx.doi.org/10.37945/cbr.2020.04.06.
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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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Rakhmat, Frizky Danu, and Novia Fadhilah. "PENGARUH KOMPETENSI INTERNAL AUDITOR, OBJEKTIVITAS INTERNAL AUDITOR DAN KEBERANIAN MORAL TERHADAP EFEKTIVITAS AUDIT INTERNAL DENGAN DUKUNGAN MANAJEMEN SENIOR SEBAGAI VARIABEL MODERASI." BALANCE Jurnal Akuntansi dan Bisnis 4, no. 1 (June 1, 2019): 549. http://dx.doi.org/10.32502/jab.v4i1.1830.
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The formulation of the problem in this study was to know how the effect of internal Internal Auditor Competence, Internal Auditor Objectivity and Moral Courage on the Effectiveness of Internal Audit with Senior Management Support as Moderating Variables (Empirical Study on Banking in Lubuklinggau City, South Sumatera Province. The type of research used associative research. The data used primary data and secondary data. The population and sample in this study were 31 respondent in Lubuklinggau city. Data collection techniques were using interview techniques and questionnaires. The analysis technique used qualitative analysis and quantitative analysis. The result of this study indicated that internal auditor competencies gave significantly affect the effectiveness of internal audits, internal auditor objectivity gave significantly affect the effectiveness of internal audits, moral courage gaeve significantly affect the effectiveness of internal audits, senior management supported moderates internal auditor competence in a pure modertor on the effectiveness of internal audits, supported senior management moderates internal auditor objectivity by moderating moderator on the effectiveness of internal audit and senior management support moderating moral courage by moderating equations to the effectiveness of internal audits.
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Shinkareva, Olga. "Federal Internal Financial Audit Standard “Implement Internal Financial Audit Results”." Buhuchet v zdravoohranenii (Accounting in Healthcare), no. 8 (August 1, 2020): 48–53. http://dx.doi.org/10.33920/med-17-2008-04.
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The article is devoted to the analysis of the new federal standard of internal financial audit “Implementation of internal financial audit results”, approved by Order of the Ministry of Finance of the Russian Federation № 91n of 22.05.2020, which will affect medical institutions as recipients of budgetary funds. The article considers the main provisions of this standard, reveals the peculiarities of drawing up and submitting an opinion on the results of the audit event, as well as the peculiarities of approval of decisions taken by the head of the institution on the results of the internal financial audit and monitoring the implementation of measures to minimize budget risks. Features of the preparation and submission of annual reports on the results of the internal financial audit entity.
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Pusaka, Jimmy, and Budhy Basuki. "CHARACTERISTICS OF INTERNAL AUDITS IN IMPROVEMENT OF QUALITY GOALS IN CALIBRATION LABORATORIES." Jurnal Standardisasi 18, no. 2 (May 11, 2018): 91. http://dx.doi.org/10.31153/js.v18i2.701.
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The Quality Goals and Internal Audits are two important links in the quality management system. These two interrelated points are in many cases surprisingly not considered as they should be. Quality goals aren’t often subject to internal audits. Similarly with quality goals scarcely describe the improvement of internal audits as a tool to strengthen the quality management system. The fact, recent audit findings found no more than 11 out of 165 findings in 18 accredited calibration laboratories operated on the basis of ISO/IEC 17025 that relates to quality goals. This paper proves no strong correlation between quality goals and internal audit statistically. The importan thing for the improvement of quality goals – internal audits relationship is giving more clarification to clause 4.10 Improvements and add internal audit-based items on the quality goals.
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د. حسن عوض حسن خالد. "قواعد السلوك المهني للمراجعة ودورها في تطوير الممارسة المهنية للمراجعة الداخلية بالمصارف السودانية." Omdurman Islamic University Journal 33, no. 1 (June 27, 2021): 52–75. http://dx.doi.org/10.52981/oiuj.v33i1.776.
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The problem of the study represented in lack of interest of some internal audit managements in Sudanese banks in implementing professional ethic rules of audit and to its advantages in developing professional practice of internal audit. The study aimed to encourage internal audits management in banks for implementing audit’s standards and professional ethic rules, study the relationship between professional ethic rules of audit and professional performance of internal audit and developing it. The study found several results, among which is that, the independence of internal auditor when planning for auditing distributes in developing professional practice of internal audit, the study recommended several recommendations, among which is that, need for increasing the awareness of internal auditors in Sudanese banks for internal audit’s professional ethic rules and its importance of implementing it.
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Gari, Tosha Tio, and Dedy Sudarmadi. "PENGARUH INDEPENDENSI AUDITOR INTERNAL DAN PROFESIONALISME AUDITOR INTERNAL TERHADAP KUALITAS AUDIT INTERNAL." JOURNAL OF APPLIED MANAGERIAL ACCOUNTING 3, no. 2 (September 30, 2019): 181–92. http://dx.doi.org/10.30871/jama.v3i2.1590.
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Penelitian ini bertujuan untuk mengetahui pengaruh Independensi Auditor Internal dan Profesionalisme Audit Internal Terhadap Kualitas Audit Internal pada PT Bank BJB Kantor Wilayah 1 Bandung. Metode penelitian yang digunakan adalah metode deskriptif dan metode verikatif dengan pendekatan kuantitatif. Data yang digunakan adalah data primer berupa tanggapan langsung dengan teknik pengumpulan data berupa studi kepustakaan dan penyebaran kuisioner. Teknik pengambilan sampel adalah Simple Random Sampling. Rancangan pengujian hipotesis menggunakan mulai dari uji validitas, uji reliabilitas, method of successive interval, uji asumsi klasik, analisis regresi linier berganda, analisis koefisien korelasi,analisis koefisien determinasi dan uji t. Hasil penelitian menunjukkan bahwa Independensi Auditor Internal lebih berpengaruh terhadap Kualitas Audit Internal. Hal ini dipengaruhi oleh faktor auditor yang bebas dari intervensi manajerial dalam melaksanakan audit internal sedangkan Profesionalisme Auditor Internal berpengaruh terhadap Kualitas Audit Internal. Hal ini dipengaruhi oleh faktor auditor menjaga hubungan baik dengan sesama rekan seprofesi dan saling menjaga nama baik profesi dalam melaksanakan audit internal. ditambah dengan kekurangan dari Profesionalisme ini adalah auditor kurang merasa yakin terhadap nasehat dari rekan seprofesi mengenai pekerjaan saya sebagai auditor.
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Abdul Wahab, Effiezal Aswadi, Willie E. Gist, Ferdinand A. Gul, and Mazlina Mat Zain. "Internal Auditing Outsourcing, Nonaudit Services, and Audit Fees." AUDITING: A Journal of Practice & Theory 40, no. 2 (January 12, 2021): 23–48. http://dx.doi.org/10.2308/ajpt-17-044.
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SUMMARY This study examines the relationship between outsourced internal audits, nonaudit services, and audit fees. We use Malaysian data to show that client firms that outsource their internal auditing function (IAF) are associated with lower external audit fees than those with in-house IAF. Moreover, this negative relationship is significantly stronger for firms that purchase greater amounts of nonaudit services (NAS) from the auditor. The results suggest that an auditor who provides NAS to a client and thus earns additional overall revenue is willing to accept lower audit fees provided a high audit quality can be achieved through reliance on outsourced IAF. JEL Classifications: M42.
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Mohamed, Zulkifflee, Mazlina Mat Zain, Nava Subramaniam, and Wan Fadzilah Wan Yusoff. "Internal Audit Attributes and External Audit's Reliance on Internal Audit: Implications for Audit Fees." International Journal of Auditing 16, no. 3 (April 5, 2012): 268–85. http://dx.doi.org/10.1111/j.1099-1123.2012.00450.x.
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Carnes, Robert R., Dane M. Christensen, and Phillip T. Lamoreaux. "Investor Demand for Internal Control Audits of Large U.S. Companies: Evidence from a Regulatory Exemption for M&A Transactions." Accounting Review 94, no. 1 (February 1, 2018): 71–99. http://dx.doi.org/10.2308/accr-52045.
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ABSTRACT Because internal control audits never existed before the passage of the Sarbanes-Oxley Act (SOX), and these audits simultaneously became mandatory for all U.S. accelerated filer companies, it has been difficult to assess the extent of investor demand for these audits. To understand whether investors demand internal control audits for these large companies, we exploit a regulatory exemption that permits companies to exclude acquired operations from an internal control audit. Using this voluntary setting, we find that investors react negatively if a company excludes acquired operations from their internal control audit. This negative reaction is larger when more of the company's operations are excluded from audit and when there is greater information uncertainty. Further, companies that exclude acquired operations from internal control audits are more likely to have a subsequent restatement. Collectively, these findings are consistent with investors perceiving value in (i.e., demanding) internal control audits for large U.S. public companies. JEL Classifications: M41; M42.
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Mat Zain, Mazlina, Mahbub Zaman, and Zulkifflee Mohamed. "The Effect of Internal Audit Function Quality and Internal Audit Contribution to External Audit on Audit Fees." International Journal of Auditing 19, no. 3 (June 14, 2015): 134–47. http://dx.doi.org/10.1111/ijau.12043.
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Usman, Usman. "Pengaruh Pengalaman dan Akuntabilitas Terhadap Kualitas Audit Internal." Al-Buhuts 15, no. 2 (December 31, 2019): 131–48. http://dx.doi.org/10.30603/ab.v15i2.1118.
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This study aims to determine the effect of work experience and accountability of internal auditors on the quality of internal audit. Supervision of regional government operations is carried out in stages starting from the Regency / City, Province to the Central level. The independent variables in this study are work experience and accountability. While the dependent variable in this study is the quality of internal audit. it is based on several literature studies and the results of previous studies, the results of this study indicate that work experience and accountability have a very strong role in determining the quality of internal audit, and if someone does the same work repeatedly or continuously, it will be faster and more professional in completing internal audits properly, This is because the auditor has truly understood the techniques or how to properly complete the audit and be careful in completing the audit as expected, therefore the auditor's experience and internal auditor's accountability in carrying out the audit can improve the quality of internal audit.
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Sukma, Paradisa, Yustrida Bernawati, Novia Rizki, and Victoria Kusumaningtyas Priyambodo. "Outsourcing Internal Audit : Cost and Benefit Analysis." SUSTAINABLE 2, no. 2 (November 30, 2022): 329. http://dx.doi.org/10.30651/stb.v2i2.15631.
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ABSTRACT The purpose of this research is to explore outsourcing of internal audit in terms of the costs and benefits provided. This type of research is qualitative with literatur review data, namely observation of journals and books relating to outsourcing of internal audit. The results of the study announce the compilation of companies using internal audit, the company can minimize costs incurred and get the same or more benefits from internal audits in the company. This benefit gets a kiss in small and medium-sized companies that have funds in the provision of funds for corporate supervision activities. However, to optimize these benefits, companies need to consider various things such as internal audit knowledge related to the company and the confidentiality of company information.ABSTRAKTujuan penulisan artikel ini adalah untuk mengeksplor outsourcing audit internal dari sisi biaya dan manfaat yang dimiliki. Jenis penelitian ini adalah kualitatif dengan metode pengumpula data studi literatur yaitu observasi terhadap jurnal dan buku yang memiliki topik terkait outsourcing audit internal. Hasil penelitian menyatakan bahwa ketika perusahaan menggunakan outsourcing audit internal, maka perusahaan dapat meminimalisir biaya yang dikeluarkan dan mendapatkan manfaat yang sama atau bahkan lebih dari audit internal yang ada di perusahaan. Manfaat ini semakin besar dampaknya pada perusahaan kecil dan menengah yang memiliki keterbatasan dalam penyediaan dana untuk aktivitas pengawasan perusahaan. Namun untuk mengoptimalisasi manfaat tersebut, perusahaan perlu mempertimbangkan berbagai macam hal seperti pengetahuan audit internal terkait perusahaan dan kerahasiaan informasi perusahaan.
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Wen, Yong. "Research on XBRL Continuous Internal Audit under the Big Data." Journal of Physics: Conference Series 2050, no. 1 (October 1, 2021): 012016. http://dx.doi.org/10.1088/1742-6596/2050/1/012016.
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Abstract The development of digital industrialization has promoted the continuous emergence of new industries, new formats and new models, and has also promoted the transformation of the traditional internal audit model to digital and intelligent. Big data, cloud computing, XBRL, artificial intelligence and other digital technologies are important means to achieve full audit coverage, big data audit has become a hot topic in the current audit field, relevant literature mainly focuses on the impact of big data on traditional audit concepts and audit methods, the impact and risks of big data technology on informatization audits, and how the auditing community responds. However, the research on the integration of big data technology and XBRL technology into continuous internal auditing is relatively rare. Based on the introduction of three XBRL continuous internal audit models, this article analyzes the continuous internal audit process of the XBRL information system, and discusses the application of big data technology in XBRL continuous internal audit.
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Mai, Duc Nighia, and Hoang To Loan Nguyen. "Knowledge Management Model for Internal Auditing." European Conference on Knowledge Management 23, no. 2 (August 25, 2022): 768–76. http://dx.doi.org/10.34190/eckm.23.2.523.
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Internal audit is crucial to improve the effectiveness and efficiency of internal controls, governance, and risk management processes in organizations. For an internal audit organization, to benefit from the knowledge of its staff, it is vital to identify the knowledge that is needed to complete quality and efficient internal audits. Knowledge management is a system that is concerned with using to the best advantage knowledge and experience. In internal auditing, knowledge management is increasingly recognized as a tool to effectively manage not only the knowledge of individuals, but also the collective knowledge in the organization. Research on internal audit has appeared since the 1980s and brought many benefits to internal audit activities, but these studies have not explained how knowledge is created during an internal audit. To address the research gap, this study looks into how knowledge is managed in an internal audit process. The applied methodology is to conduct qualitative case study research by using in-depth interviews, observations, and documentary analysis in the internal audit field.
Findings from empirical analysis of the case together with the literature review provide useful insights to construct a potential model of knowledge management in internal audit. During an internal audit process, there are three key elements including data, information, and knowledge that internal auditors need to consider. Data is a series of separate observations, measurements, or events in the audited company. Information is the organized data that has been arranged with relevance and purpose for better comprehension of the internal activities. The knowledge generated and applied by internal auditors can be thought of as a collection of specific and broad information sets and experience in similar audit situations. The process of knowledge management in internal audit involves four sub-processes: collecting data, analyzing data to get information, synthesizing information to create knowledge, and improving knowledge by putting knowledge into practice. The research findings imply that the process of internal auditing requires internal auditors to apply not only analysis capacities but also empirical experience in their work. In the internal audit, it requires collaboration from within the auditing organization and from the auditee’s sources to enable a valuable outcome for all involved.
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Tiruneh, Dawit Tadesse. "PERSPECTIVE OF CORPORATE GOVERNANCE ON THE INTERACTIONS OF INTERNAL AUDIT WITH MANAGMENT AND ITS IMPACT ON THE INTERNAL - EXTERNAL AUDIT LINKAGES." Copernican Journal of Finance & Accounting 10, no. 3 (September 25, 2021): 51–70. http://dx.doi.org/10.12775/cjfa.2021.011.
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Literatures based on developed countries suggest an interaction of internal audit with management has impact on the internal-external audit linkages and the interactions and linkages have their own contribution toward the realization of good corporate governance. Nevertheless, these interactions have not been sufficiently explored in developing countries such as Ethiopia. This quantitative research examines in the form of explanatory study the interaction of internal audit with management and its impact on the internal- external audit linkages in Ethiopia. By doing so, it explained the causal relationship between variables through hypothesis testing. The research method of this study was a constructed questionnaire, which was sent to companies and to the 100 top management, internal auditors, and external auditors in Ethiopia. As it has been examined, existing findings suggest that organizations can enhance corporate governance’s effectiveness by strengthening the interactions of internal audit with management and in the meantime as the result of this impact by upgrading the internal-external audit linkages. In line with this, the results indicate interactions of internal audit with management depend on the level of the result of internal audits’ effectiveness, as the result, it positively moderates the internal-external audit linkages.
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Bhattacharjee, Sudip, Mario J. Maletta, and Kimberly K. Moreno. "The Role of Account Subjectivity and Risk of Material Misstatement on Auditors' Internal Audit Reliance Judgments." Accounting Horizons 30, no. 2 (December 1, 2015): 225–38. http://dx.doi.org/10.2308/acch-51363.
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SYNOPSIS Using a field-based questionnaire, we examine how auditors simultaneously use client-level misstatement risk (inherent risk and control risk) with account subjectivity when utilizing internal audit. We contend that auditor use of internal audit will reflect a balance of the costs and benefits of using internal audit. Prior audit research has primarily focused on lower and higher risk conditions, with relatively few studies examining the implications of moderate risk on internal audit use. Data on actual audits from an instrument administered to external auditors reveal significant differences in reliance decisions across lower, moderate, and higher misstatement risk levels. Results reveal that increases in account subjectivity have no effect on auditors' internal audit reliance when risk of material misstatement is at lower levels. However, auditors increase their internal audit reliance when account subjectivity increases across moderate misstatement risk. Finally, our results suggest that auditors decrease their internal audit reliance when account subjectivity increases across higher misstatement risk. By examining these risk variables in combination, we provide insight into the complexities associated with external auditors' internal audit usage. This research could be of interest to practitioners and academics by providing insight into how multiple risk factors may be combined when utilizing internal audit.
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Bhaskar, Lori Shefchik, Joseph H. Schroeder, and Marcy L. Shepardson. "Integration of Internal Control and Financial Statement Audits: Are Two Audits Better than One?" Accounting Review 94, no. 2 (July 1, 2018): 53–81. http://dx.doi.org/10.2308/accr-52197.
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ABSTRACT The quality of financial statement (FS) audits integrated with audits of internal controls over financial reporting (ICFR) depends upon the quality of ICFR information used in, and its integration into, FS audits. Recent research and PCAOB inspections find auditors underreport existing ICFR weaknesses and perform insufficient testing to address identified risks, suggesting integrated audits—in which substantial ICFR testing is required—may result in lower FS audit quality than FS-only audits. We compare a 2007–2013 sample of small U.S. public company firm-years receiving integrated audits (accelerated filers) to firm-years receiving FS-only audits (non-accelerated filers) and find integrated audits are associated with higher likelihood of material misstatements and discretionary accruals, consistent with lower FS audit quality. We also find evidence of (1) auditor judgment-based integration issues, and (2) low-quality ICFR audits harming FS audit quality. Overall, results suggest an important potential consequence of integrated audits is lower FS audit quality. Data Availability: Data are publicly available from the sources identified in the text.
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KHERSIAT, Ola Mohammad. "The Impact of Audit Committees on the Realization of an Integration Relationship between Internal and External Audit when Conducting Audits. A Study on Public Shareholding Corporations." Journal of Advanced Research in Law and Economics 11, no. 2 (March 31, 2020): 420. http://dx.doi.org/10.14505/jarle.v11.2(48).15.
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This study aims to investigate methods of achieving an integrating relationship between internal and external audit when conducting audit procedures in Jordanian public shareholding corporations, as well as investigate the impact of audit committees achieving such a relationship since an effective internal audit effective the external auditor`s estimations regarding control risks. The study concludes that all aspects of the realization of an integration relation between internal and external audit have achieved a fair ratio exceeding 60%. Spearman test was used to show the nature of the relationship between the internal and external audit. The test results showed that the relationship between these methods is vulnerable in Jordanian public shareholding corporations, and that audit committees have no statistically significant impact on achieving an integrating relationship between internal and external audits in conducting audit in Jordanian public shareholding corporations, since the ratio of audit committees interpretation (R2) which amounted to (.145) of the dependent variable difference ( achieving an integrating relationship between internal and external audit in conducting audit) is relatively low, and that the P- value derived for this relation amounted to (.615) which is more than (5%) .
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Schwartz, Malcolm. "Do Not Audit Internal Control Over Financial Reporting—Audit Internal Control!" EDPACS 48, no. 4 (October 2013): 1–11. http://dx.doi.org/10.1080/07366981.2013.834713.
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Gelderen, Saskia C. van, Gijs Hesselink, Gert P. Westert, Paul B. Robben, Wilma Boeijen, Marieke Zegers, and Hub Wollersheim. "Optimal governance of patient safety: A qualitative study on barriers to and facilitators for effective internal audit." Journal of Hospital Administration 6, no. 3 (April 11, 2017): 15. http://dx.doi.org/10.5430/jha.v6n3p15.
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Objective: While internal audits are widely used, insight into the essential components of the internal audit to govern patient safety is limited. The aim of this study is to explore factors that hinder and stimulate internal audits as an effective patient safety governance tool for hospital boards.Methods: A qualitative interview study in six Dutch hospitals. Interviews (n = 43) were held with auditees, quality officers, boards of directors and boards of supervisors. Data were collected and analysed using Grounded Theory.Results: Barriers and facilitators were classified into 14 categories from which four themes emerged: (1) board positioning of audits, (2) organisation and content of audits, (3) competences and composition of audit team, and (4) cultural factors and attitudes towards auditing.Conclusions: We found two themes consisting of factors related to the audit itself (organisation and content of audits, and competences and composition of audit team) and two themes consisting of contextual factors (board positioning of audits, and cultural factors and attitudes towards auditing). These may contribute to support for auditing and to the generation of reliable audit results, which subsequently could result in effective audits for governance of patient safety. Hospital boards and executives can optimise the patient safety auditing system in their hospitals by increasing active leadership engagement, by promoting audits as an opportunity for staff to learn from safety problems (rather than a mandatory examination instrument) and by providing vital resources for a smooth audit process, such as a medical specialist in the audit team.
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Tušek, Boris, and Ivana Pokrovac. "Interdependence between audit committee and internal audit." Corporate Board role duties and composition 8, no. 2 (2012): 6–14. http://dx.doi.org/10.22495/cbv8i2art1.
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Internal audit is an indispensable resource and a source of information for the audit committee. Audit committees have to meet a number of obligations and responsibilities which is not possible without adequate communication with the internal audit. Internal audit is often seen as an "eyes and ears" of the audit committee. On the other hand, one of the key factors for the successful internal auditing functioning in an organization is a support that audit committee provides to the internal audit function. Previous studies stress out the importance of mutual interaction which is extremely important for reciprocal strengthening. of each other’s functions. The purpose of this paper is to investigate the relevant theoretical features of the connection between internal and Audit Committee.
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Strikwerda, Hans. "Internal Audit: Van compliance naar performance audit?" Maandblad Voor Accountancy en Bedrijfseconomie 94, no. 3/4 (April 22, 2020): 127–35. http://dx.doi.org/10.5117/mab.94.47939.
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Gelet op ontwikkelingen in de aard van ondernemingen, in het bijzonder de steeds belangrijkere rol van immateriële activa en informatie, groeit er een vraag naar het ex-ante beoordelen van strategie, bestuur en bedrijfsvoering, ex-post beoordelingen schieten te kort. Daarmee moet de functie van internal audit niet door de bril van de eigen functie proberen te kijken naar wat er van de internal auditor zal worden gevraagd, maar door de brillen van de maatschappelijke vraag en die van de veranderende aard van de onderneming en de veranderende aard van activa. De traditionele kennis voor de auditfunctie is dan niet meer voldoende. Ook de internal auditor zal zich meer en bredere kennis eigen moeten maken om nieuwe situaties op een juiste wijze te toetsen.
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Singh, Harjinder, and Rick Newby. "Internal audit and audit fees: further evidence." Managerial Auditing Journal 25, no. 4 (April 20, 2010): 309–27. http://dx.doi.org/10.1108/02686901011034153.
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Lee, Ho-Young, and Hyun-Young Park. "Characteristics of the internal audit and external audit hours: evidence from S. Korea." Managerial Auditing Journal 31, no. 6/7 (June 6, 2016): 629–54. http://dx.doi.org/10.1108/maj-05-2015-1193.
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Purpose Using 5,055 sample firm-years in Korea between 2009 and 2013, this paper aims to examine the association between the characteristics of the internal audit and the number of external audit hours as a proxy for audit efficiency. Design/methodology/approach This study is motivated by the International Standard on Auditing No. 610: “Using the work of internal auditors”. This auditing standard guides external auditors in using the work of internal auditors to obtain audit evidence and consult internal auditors for direct assistance. The authors expect that external audit efficiency will increase when the work of competent internal auditors is used. Findings The authors find that the number of internal auditors relative to the number of employees is associated with the number of external audit hours. This result suggests that the greater the availability of internal auditors, the greater their contribution will be to the financial statement audit and the more efficient the audit. The authors find evidence that external auditors use the work of internal auditors with accounting and legal expertise to improve audit efficiency. They also find some evidence that the work of internal auditors with greater availability is more effective during initial external audit engagements. Originality/value This study adds to the extant literature on the contributions of internal auditors to external audits by using archival data and by measuring audit effort using a large database of audit hours. In addition, our findings have practical implications for firms and external auditors who are evaluating the role and value of using the work of internal auditors. The authors also believe that the findings will be of interest to regulators or auditing standards boards.
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BULKOT, Hanna, and Sofiia KOVALENKO. "Features of internal audit of cash flow efficiency at enterprises, institutions, organizations of Ukraine." Economics. Finances. Law, no. 6 (June 26, 2020): 6–10. http://dx.doi.org/10.37634/efp.2020.6.1.
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Introduction. Cash has great importance in the organization and operation of any entity. However, as the practice of tax audits shows, a large number of abuses and violations occurs quite often. The main reason for that is an ineffective conduction of internal audit and ineffective implementation of controls in cash flow accounting. Cash flows are more or less free to circulate, so there is a high possibility of funds misuse by management. Therefore, performing an internal audit of cash flow efficiency is the opportunity to increase the efficiency of accounting and cash flow management in enterprises, institutions, organizations, and necessary and extremely relevant. The purpose of the paper is to find ways to improve the audit of cash flows, generalize the theoretical and practical aspects of the internal audit of cash flow efficiency in local enterprises. Results. This article addresses issues related to conducting an internal audit of cash flow efficiency. Aspects of the application of audit procedures in gathering audit evidence in the process of cash flow audit are considered. The methodology and technology of conducting an internal audit of cash flows are studied, as well as the functions of the internal audit service are considered. The main stages of the internal audit of the cash flow efficiency are highlighted. The technology of conducting an audit of cash transactions is reviewed, as well as a new system of internal performance audits at enterprises, institutions, and organizations is offered. Conclusion. We see that internal audit is a very important part of business life. It doesn't matter if the company is a large multinational company with many thousands of currency units in operations every day, or if it is a local company that barely makes ends meet, in any case, checking the effectiveness of cash flows is an integral part of company`s life. An internal audit of cash flow efficiency fights against misappropriation of funds, incompetent employees who use assets unwisely, corruption, etc. So, summarizing all the above, we can conclude that a well-organized system of internal audit of cash flow efficiency provides the company, institution, organization with investment attractiveness among shareholders, competitiveness in the market. Also, this service stimulates the further development of the enterprise and maximizes the wealth of both shareholders and ordinary employees, by increasing the market value of invested capital and increasing the quality of work.