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Journal articles on the topic 'Statutory audit international standards auditing'
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1
Saha, Siddhartha Sankar, and Mitrendu Narayan Roy. "Quality Control Framework for Statutory Audit of Financial Statements: A Comparative Study of USA, UK and India." Indian Journal of Corporate Governance 9, no. 2 (December 2016): 186–211. http://dx.doi.org/10.1177/0974686216668458.
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Quality control of audit procedure has become extremely important in today’s corporate environment in the backdrop of accounting irregularities and audit failures leading to corporate demise. Accounting firms control the quality of audit procedure with the help of the quality control standard (QCS) and specific auditing standard. These standards provide reasonable assurance of compliance with applicable regulation and issuance of the appropriate report by the engagement team. After discussing the international scenario of quality control framework, in this study a comparative analysis of quality control policies and procedures at firm and engagement in three select countries has been presented. The countries selected are the United States of America (USA), the United Kingdom (UK) and India. The study finds that the QCS and the auditing standard in all three countries are designed in line with International Standards on Auditing (ISAs) and International Standards on Quality Control (ISQC)-1. Naturally, quality control policies and procedures in three countries are comparable barring few minor differences. Based on these differences, it can be concluded that the quality control framework in the UK and India is more stringent as compared to the USA.
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Hinke, Jana, Michal Gezo, Luboš Smutka, and Wadim Strielkowski. "Management of financial statements auditing in the Visegrad Group countries." Problems and Perspectives in Management 18, no. 1 (January 22, 2020): 1–16. http://dx.doi.org/10.21511/ppm.18(1).2020.01.
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This paper aims at comparing the management perspectives with the audit conditions in the Visegrad Group (V4) countries (the Czech Republic, the Slovak Republic, Poland, and Hungary) in the following areas: legislation governing the auditing, statutory duty of auditing, mandatory rotation of auditors in public interest entities, requirements on auditors and professional activities, and audit supervision organizations. The paper also tests the hypothesis whether there is a relationship between the size of the accounting entity and the auditor’s opinion.The methodology is based on the statistical analysis of the data using the Chi-square test of independence applied to a sample of 800 randomly selected accounting entities from all V4 countries (200 per each country in question).The results demonstrated significant differences in the management approaches to financial reporting, especially in the area of the statutory duty of auditing. In addition, quantitative research was conducted to determine whether there is a relationship between the size of the accounting entity and the auditor’s opinion. At the 5% significance level, no such dependence has been found for any of the V4 countries, but at the 10% significance level, the dependence has already been proved in case of the Republic of Poland and Hungary. The practical value of the obtained results is the knowledge of how to manage accounting standards for business entities in the V4 countries, as well as to determine the statutory duty to audit financial statements. These results might be of a special practical importance for business managers, tax authorities, and auditors operating in the EU countries.
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Tabone, Norbert, and Peter J. Baldacchino. "The statutory audit of owner‐managed companies in Malta." Managerial Auditing Journal 18, no. 5 (July 1, 2003): 387–98. http://dx.doi.org/10.1108/02686900310476855.
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Historically, as a former British colony, Malta has had its accounting and auditing practices highly influenced by UK regulation. However, in the last decade, departures have steadily been occurring from a UK‐based regulatory framework to one increasingly influenced both by international standards and European Union requirements. One such departure relates to the retention of the statutory audit requirement for all Maltese companies, despite its earlier abolishment for small companies in the UK. This study evaluates the relevance of a mandatory annual statutory audit requirement for owner‐managed companies as perceived by two interest groups: the owner‐manager and the auditor. It also considers possible alternatives to such a requirement. Results indicate that for Maltese owner‐managed companies, the statutory audit fulfils two important roles: it bears relevance to outside third parties, and it has a positive effect on the owner‐manager and staff.
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Provasi, Roberta, and Patrizia Lucia Maria Riva. "Legal account auditing in the corporate system of Chinese listed companies relevance and implications." Corporate Ownership and Control 11, no. 3 (2014): 336–48. http://dx.doi.org/10.22495/cocv11i3conf1p3.
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In recent years, the People’s Republic of China has enjoyed strong growth that has attracted the attention of the whole world. In particular, the event that marked a significant development of the Chinese economy has been the entry into the WTO in 2001. This has triggered the opening of China to foreign investment and the gradual liberalization of foreign companies in the Chinese domestic market. The presence of foreign investors and foreign companies in China has increased the demand for higher quality in the standard of auditing and an acceleration of the process of international convergence. To this end, China over the years has continued its project of alignment with the international rules and in 2008 published the new CSA (Chinese Standards on Auditing) and in 2010 in accordance with the principle of global and continues convergence the CASB (China auditing Standards Board) has completed its review of the CSA achieving full convergence with the Clarified ISAs. The aim of this research is to investigate the current scenario of the system of statutory audit in the People’s Republic of China, the degree of development of auditing system highlighting the differences and peculiarities of the audit through an empirical analysis that involved the companies composing the index CSI 300 the 300 most highly capitalized companies, 95 of which are listed on the Shenzhen Stock Exchange and 205 on the Shanghai Stock Exchange. The analysis showed that there is a strong presence of local auditing firms, almost half of the companies listed on the CSI 300 are audited by domestic firms. With regard to the presence of foreign companies, it was found that foreign companies not belonging to the big four are the most representative. In fact only 76 companies are audited by the Big Four.
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Steyn, Dirk A., Thea L. Voogt, and Ben Marx. "The engagement decision in medium audit practice in South Africa." Journal of Economic and Financial Sciences 1, no. 2 (October 31, 2007): 171–84. http://dx.doi.org/10.4102/jef.v1i2.366.
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The decision to accept an appointment as registered external auditor to an audit client (the engagement decision) has in recent years been subject to an increased level of professional care and consideration, mainly as a result of previous experiences of engagement decisions that have led to audit practitioners suffering significant financial losses and litigation exposure, as well as significant amendments to statutory regulation and new International Standards on Auditing. The engagement decision is affected by a number of factors or motivational drivers. The purpose of this article is to discuss some of these factors related to the audit practitioner’s business that may be grouped together under the headings of commercial, professional and organisational considerations. The article further reports on the extent to which auditors in medium audit practice in South Africa considers the three groups of considerations during the engagement decision, based on questionnaire results. Lastly, the article comments on the need for a balanced approach to the three groups of considerations to manage the auditor’s business risk associated with the engagement decision.
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Matonti, Gaetano, Jon Tucker, and Aurelio Tommasetti. "Auditor choice in Italian non-listed firms." Managerial Auditing Journal 31, no. 4/5 (April 4, 2016): 458–91. http://dx.doi.org/10.1108/maj-07-2015-1215.
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Purpose This paper aims to investigate auditor choice in those Italian non-listed firms adopting the “traditional” model of corporate governance. In Italy, non-listed firms can choose between two types of auditor: the Board of Statutory Auditors (BSA), that is the statutory auditors, or an “external” auditor. At the same time, a BSA conducts the administrative auditing for all companies with equity exceeding €120,000. Design/methodology/approach The paper estimates a logistic regression model of firm auditor choice between an external auditor and the BSA, which incorporates variables proxying for both agency conflict and organizational complexity effects. Findings The results show that of the potential agency factors, only board independence drives auditor choice, whereas organizational complexity and risk factors including firm size, investment in inventories, subsidiary status and complexity drive auditor choice. These results may be explained in the administrative audit role of the BSA, which monitors both day-by-day firm operations and the financial statements preparation “project”. Stakeholders as a result are reassured that, in general, their interests are protected. Finally, it was found that legal form and voluntary International Financial Reporting Standards compliance exert an impact on auditor choice. Originality/value The paper provides support for an internal yet independent auditing body such as the Italian BSA as a wider model for corporate governance in European non-listed firms (OECD, 2004 and 2015). The BSA as an administrative and financial auditing body made up solely of independent highly qualified professionals can work within the firm on an operational basis, and in so doing can increase stakeholder protection.
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Iwanowicz, Tomasz. "The identification of risks of material misstatement based on key audit matters in line with International Standard on Auditing 701." Zeszyty Teoretyczne Rachunkowości 2019, no. 105 (161) (December 22, 2019): 17–30. http://dx.doi.org/10.5604/01.3001.0013.6053.
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The purpose of this paper is to determine what key audit matters (KAM) have been identified by statutory auditors from various audit firms in companies from various industries, which assertions appeared most often in the audit reports, and what the links were between the auditing company, KAM, the assertion and the market sector. The research sample consisted of 317 companies listed on the Warsaw (158 companies) and London (159 companies) stock exchanges. The analysis was divided into companies from the following ten market sectors: construction, chemicals, energy, mining, IT, media, automotive, real estate, oil & gas and food. The research was executed based on the analysis of annual financial statements (annual reports) and independent auditor reports that were published by in-scope entities for the latest twelve-month period available as at the date of the research (the twelve-month periods ended on December 31, 2017, and March 31, 2018). The auditors of the tested companies identified a total of 793 unique KAMs. Based on their detailed descriptions, they were then divided into 36 categories (including the cate-gory ‘none’), and they were finally mapped with a total of 2,094 assertions from 7 types. All analyses and developed charts were supported by the Microsoft Power BI data analysis tool.
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Mertzanis, Charilaos, Vangelis Balntas, and Thodoris Pantazopoulos. "Internal auditor perceptions of corporate governance in Greece after the crisis." Qualitative Research in Accounting & Management 17, no. 2 (November 29, 2019): 201–27. http://dx.doi.org/10.1108/qram-07-2018-0045.
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Purpose This paper aims to present the views of internal auditors in Greece on the relation between the internal audit function (IAF) and corporate governance (CG) after several years of European market integration and in the aftermath of the sovereign debt crisis. Design/methodology/approach Data are collected using semi-structured interviews with 15 internal auditors working in firms with different size and in different sectors of activity. Interviewees have diverse experience and hold various positions in the firm. Findings Respondents perceive a strong relation between the IAF and CG. They view the IAF as a preventive tool that provides monitoring and advisory services to firms. They stress the inadequate monitoring role of the board in the IAF, and they support a proactive intervention in the strategic audit planning process. They see a small role for shareholders in CG. They stress the need to focus more on the efficiency and effectiveness considerations in carrying out the IAF. They perceive CG-related information as important for meeting formal compliance needs rather than contributing to decision-making or audit process planning. They believe that audit committees (AC) are weak in implementing effective monitoring, due to inadequate knowledge and expertise of their members. They would like to see a two-way interaction between auditors, AC and management. They would like to enjoy more independence through the implementation of international standards of auditing and statutory regulation. Research limitations/implications The sample covers 15 auditors from an equivalent number of firms and few sectors of activity. Accessing potential interviewees was difficult due to the perceived conflict between their work requirements and public statement of their views. Practical implications The proposed method adds to the qualitative analysis literature with regard to measuring and evaluating the personal views of auditors on CG. The study provides empirical evidence of the need to use extensive qualitative research to assess the auditors’ views on the role of CG for their work. Originality/value The role of internal audit in CG effectiveness is a key policy concern, especially in countries with diverse market environments. Greece is such an environment for it has undergone a major institutional change within a short period and suffered greatly from its sovereign debt crisis. Further, few studies have sought and evaluated the views of internal auditors by using semi-structured interviews. The latter provide details, which other methods cannot capture. The results of this study are especially useful to the competent regulators, for they reflect market perceptions on the importance and effectiveness of CG practices. They are also useful to practitioners to identify potential root causes of audit deficiencies.
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Chumakova, Iryna, and Alla Dvihun. "Mechanisms for the improvement of the utility sector management efficiency within the local authorities." Regional Economy, no. 2(92) (2019): 45–55. http://dx.doi.org/10.36818/1562-0905-2019-2-6.
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The key risks and problems in the field of decentralization and formation of united territorial communities in Ukraine in the context of providing transparent and responsible management of utility sector enterprises by local self-government bodies are identified. In the framework of Ukraine’s implementation of the provisions of the Association Agreement with the European Union in domestic practice, the reasonability of reforming the utility sector in Ukraine at the regional level based on the positive experience and best practices of the European countries and on the generally recognized world standards and principles of corporate governance is substantiated. The paper outlines the mechanisms for ensuring the management efficiency of utility sector and for introduction of new standards of transparency and accountability of utility sector enterprises. On the basis of the analysis of the respective provisions of the national legislation the authors conclude that Ukraine has created the legislative preconditions for the transparency and accountability of utility sector enterprises within the territorial communities. However, the changes introduced into the national legislation on accounting and financial reporting, as well as the revision of the Law of Ukraine on Auditing, imposes more stringent requirements for the disclosure of information about the activities of utility companies, recognizing them as companies of public interest and / or as the subjects of natural monopoly within the national market. In order to strengthen the supervision over such enterprises the collegial bodies - audit committees or appropriate supervisory boards - should be established within their management system. The article considers the differences of such bodies’ functioning and the procedural peculiarities of the respective supervisory councils’ establishment that are based on the legislative norm that is of recommendatory nature as for the establishment of such councils for village and city, and for all others - district, region - is of obligatory nature. The paper proves that it is not economically feasible to create supervisory boards within all utility sector enterprises. The author analyzes the competences of the relevant local councils within the national legislation of Ukraine. On the basis of the generalization of the best European experience and practices, criteria for determining the economic justification for the establishment of supervisory boards at domestic utility sector enterprises in Ukraine are proposed. Moreover, the recommendations for local authorities regarding the criteria for the selection of independent auditors (audit firms) for carrying out the statutory audit of annual financial statements of utility sector enterprises are also formulated. The introduction of the proposed recommendations will increase the competitiveness of the utility sector companies of Ukraine compared to the enterprises of private sector of economy, as well as will promote the implementation of international standards and European principles and the best practices of effective management of large corporations in the utility sector of Ukraine.
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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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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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Jasim Najm, Karar. "DEVELOPING A MECHANISM FOR AUDITING MUNICIPAL PROPERTY (LAND) ON THE BASIS OF INTERNATIONAL AUDITING STANDARDS AND INTOSAI INTERNATIONAL STANDARDS." INTERNATIONAL JOURNAL OF RESEARCH IN SOCIAL SCIENCES & HUMANITIES 12, no. 02 (2022): 592–618. http://dx.doi.org/10.37648/ijrssh.v12i02.039.
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The research aims to prepare a proposed program in accordance with international auditing standards and INTOSAI standards and based on the laws, regulations and instructions in force that the auditor should take into account when auditing municipal lands to contribute to improving the process of auditing municipal lands and assisting the auditors in completing audit procedures with high flow. Achieving audit objectives efficiently and effectively And it will be reflected in giving an opinion on the fairness of the financial statements of municipal institutions, and the research concluded that the program of the Federal Financial Supervision Bureau approved to audit the activities of municipalities did not include detailed audit procedures for municipal lands and did not take into account international auditing standards and INTOSAI standards, so the researchers recommend the need to .adopt the program proposed
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Simunic, Dan A., Minlei Ye, and Ping Zhang. "Audit Quality, Auditing Standards, and Legal Regimes: Implications for International Auditing Standards." Journal of International Accounting Research 14, no. 2 (September 1, 2015): 221–34. http://dx.doi.org/10.2308/jiar-51305.
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ABSTRACT We summarize the analyses detailed in two papers on the relation between audit quality, auditing standards, and legal regimes. We show that optimal auditing standards for a country are a complex function of the legal system in that country. We then discuss the implications for the adoption of international auditing standards.
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Winograd, Barry N., James S. Gerson, and Barbara L. Berlin. "Audit Practices of PricewaterhouseCoopers." AUDITING: A Journal of Practice & Theory 19, no. 2 (September 1, 2000): 176–82. http://dx.doi.org/10.2308/aud.2000.19.2.176.
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This paper discusses the development of the PricewaterhouseCoopers Audit Approach (PwCAA), identifies distinctive features of this approach, and provides information on new development areas. The discussion will provide a summary of each of these items and will focus on the distinctive features of the PwCAA. The article will not cover elements that appear to be consistent with other firm methodologies. Significant consistencies exist since all of the major international firms essentially operate under generally accepted auditing standards, i.e., the International Standards on Auditing (ISA) as established by the International Federation of Accountants. In the United States, they also comply with generally accepted auditing standards (GAAS) as established by the American Institute of Certified Public Accountants (AICPA).
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Лосева, Н., and N. Loseva. "Audit Services and Requirements of International Standards of Auditing." Auditor 4, no. 10 (November 16, 2018): 3–9. http://dx.doi.org/10.12737/article_5bdabd4c5c0b28.55425503.
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the article examines Russian legislation and regulatory documents regulating the types of audit services, as well as the structure of the Collection of Standards issued by the International Auditing and Assurance Standards Board (IAASB), the provisions of international auditing standards.
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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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Турищева and Tatyana Turishcheva. "Introduction of International Auditing Standards in Russia." Auditor 1, no. 12 (December 12, 2015): 12–17. http://dx.doi.org/10.12737/16748.
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Th e article deals with the introduction of international auditing standards in Russian auditing practice, existing
problems and ways of solving them. It is concluded that the current stage of development of audit in Russia is characterized
by a further convergence of Russian and international auditing practices, increase of public demand for its improvement.
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Domaracká, Denisa, and Veronika Kňažková. "Statutory audit in Slovakia – significant phenomenon of global European changes." SHS Web of Conferences 74 (2020): 06006. http://dx.doi.org/10.1051/shsconf/20207406006.
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The changing global economy environment also affected the area of statutory audit. Nowadays, statutory audit faces the significant changes not only because of the processes of digitization and automation in accounting and auditing, but because of increased and tightened legislative regulation, too. The most important aspects of financial reporting and auditing are subject to EU Regulations and EU Directives. For this reason, the issue of legislative regulation changes in field of statutory audit in Slovakia has become the subject of our article. Currently, the proposal of amending and supplementing Act. No 431/2002 Coll. on Accounting, as amended underwent an interdepartmental comment procedure. The proposal includes the changes on requirements for statutory audit. This article examines the current proposal to change (mainly increase) the conditions for performing the mandatory statutory audit of financial statements in Slovak audit environment. Our goal is to clarify the reasons and implications behind the changes of Slovak legislation as well as the impact of these changes on audit performance in Slovakia. We believe conducting statutory audits in accordance with the applicable legislation accepted and implemented at international European level can contribute to transparency and improve the quality of audit performance. In order to achieve the goal, it was necessary to choose a purposeful work methodology and research methods.
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Kinney, William R. "Twenty-Five Years of Audit Deregulation and Re-Regulation: What Does it Mean for 2005 and Beyond?" AUDITING: A Journal of Practice & Theory 24, s-1 (December 1, 2005): 89–109. http://dx.doi.org/10.2308/aud.2005.24.s-1.89.
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This paper explores broad trends in regulation of the auditing profession from 1981–2005, the first 25 years of Auditing: A Journal of Practice & Theory. It begins with a sketch of the 1980 regulatory environment, three constants over the next 25 years, and three external developments or “shocks” that dramatically affected audit regulation activity. The initial conditions, constants, and shocks are then related to audit regulation beginning with the audit risk model in the 1980s as the basis for selfregulated auditing standards, continuing with a vision of unregulated, non-mandated value-adding assurance services in the 1990s, and finally, the 2002 statutory adoption of independent regulation of registered accounting firms and a government-sanctioned corporate governance role for auditors. I close with some implications of the 2005 audit regulation environment for future auditing scholars and practitioners.
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Smagina, M. N., S. V. Malkova, and A. S. Kuznetsova. "Features and difficulties of the ISA audit." Entrepreneur’s Guide 15, no. 3 (August 2, 2022): 44–52. http://dx.doi.org/10.24182/2073-9885-2022-15-3-44-52.
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The article examines the main features and difficulties of auditing according to international auditing standards. The topic is relevant, since such standards are already used in our country. At the same time, the process of their introduction was long and time-consuming. However, this did not lead to their implementation without significant difficulties. New legislative amendments in this area only prove that the topic is relevant. As a result of the work, a conclusion will be drawn about the problems of applying international auditing standards, without solving which their full use in our country is impossible.
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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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Tirbakh, Lesia, and Galina Chaban. "Recognition of international standards of audit activity in Ukraine." University Economic Bulletin, no. 47 (December 17, 2020): 92–97. http://dx.doi.org/10.31470/2306-546x-2020-47-92-97.
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Relevance of the research topic. The article identifies and analyzes the most significant factors influencing the recognition and implementation of international standards in Ukraine. Formulation of the problem. Evaluation of published results of work on translation of international auditing standards based on criteria of accuracy and preservation of meaning, relevance, clarity, passing grammatical norms, completeness, unity, priority of Ukrainian traditional terminology, making proposals aimed at improving these results. An analysis of recent research and publications that have begun to address this issue. Studies of the recognition of international auditing standards in Ukraine are reflected in the works of Galkin V. V., Golov S. F., Zagorodniy S. V., Tereshchenko L. O., Shakhraychuk T. V., Shurupova Yu. G. At the same time, these problems need further study. Highlighting previously unresolved parts of the general problem to which the article is devoted should highlight the importance of implementing international standards of auditing in Ukraine. Setting the task, the purpose of the study to identify the strengths, weaknesses and problems of the application of international auditing standards in Ukraine. Method or methodology of research: the research article is based on the theory of scientific knowledge, a systematic approach to the problems, the study of their relationship and development. Presentation of the main material (results of work). Difficulties of perception of provisions of the international standards of audit, and their translation are revealed. Field of application. The results of this study can be used in the audit activities of Ukraine. Conclusions in accordance with the article. Conclusions are made about the need for further work on improving the style of standards as accounting.
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Panina, Irina V. "Issues related to the regulation of the content of the audit reports." Vestnik Voronezhskogo gosudarstvennogo universiteta. Ser.: Ekonomika i upravlenie = Proceedings of Voronezh State University. Series: Economics and Management, no. 4 (December 31, 2021): 77–89. http://dx.doi.org/10.17308/econ.2021.4/3686.
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Introduction. Currently, the procedure for providing audit services to public interest entities is being reformed. The main goal of these reforms is to provide more effective protection of legally protected values associated with the activities of such economic entities. The changes also apply to the content of audit reports on their financial statements. The process of revising the relevant regulatory document is still ongoing. Not all of the revised provisions are consistent with each other and the International Standards on Auditing. This will complicate their practical application by auditors and affect the informational value and public utility of audit reports. In addition, since 2017, when the modern format for audit reports was adopted, its application has revealed shortcomings in terms of its content and terminology. This explains the need to develop proposals to eliminate these “sticking points” when regulating the content of the auditor's report. Purpose. The development of recommendations to harmonise the provisions of laws and regulations governing the content of audit reports and federal state control (supervision) of the activities of audit organisations providing services to public interest entities with the International Auditing Standards in order to increase the information value of audit reports. Methods. The research results were obtained using analysis, synthesis, analogy, historical and logical approaches, classification, etc. Results. It was proposed to introduce changes to the text of the Federal Law “On Auditing Activities” of 30.12.2008 No. 307-FZ in order to eliminate contradictions in its provisions regarding the content of audit reports, to ensure their consistency with the International Standards on Auditing and laws and regulations in the field of controlling the activities of audit organisations that provide audit services to public interest entities. The content of the requirements of the International Standards on Auditing regarding the content of audit reports was clarified as well as their official translation into Russian to make the documents more informative and easy to use. Conclusions. The proposed clarifications can be taken into account when making changes to the texts of the Federal Law “On Auditing Activities”, the original version of the International Standards on Auditing and its official translation. They can also be further discussed by specialists.
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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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Brovkina, N. D. "Development Strategy for Audit Services Quality Supervisors." Accounting. Analysis. Auditing 6, no. 5 (October 27, 2019): 69–79. http://dx.doi.org/10.26794/2408-9303-2019-6-5-69-79.
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The issue of improving the financial reporting auditing process has been an important development of the financial services market for many years. The wave of claims to the quality of auditing findings has led to reform not only in the profession itself, in the form of the reworking of international auditing standards (ISA), but also to the review of the organization of state oversight and supervision of the quality of audit. Currently, the auditing supervision authorities in the Russian Federation are building their work in accordance with the agreements formed at the international level, including the documents of the International Forum of Independent Audit Regulators (IFIAR — International Forum of Independent Audit Regulators). At the annual forum taken place in April 2018, a number of organizational decisions were adopted, including the first-ever Strategic Plan for 2018–2021, which aims to ensure the quality of audits in cooperation with the global and regional networks of auditing organizations, standards-setting bodies and other key stakeholders. In order to ensure such interaction, the development strategy of auditing regulators in other IFIAR member states is of particular importance.
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Seehausen, Jesper. "Audit Reports – Balancing Harmonisation, Standardisation, and Customisation." European Business Law Review 31, Issue 3 (May 1, 2020): 359–400. http://dx.doi.org/10.54648/eulr2020016.
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The purpose of this article is to discuss the increased harmonisation of the rules on audit reports across Member States caused both by EU legislation, i.e. the Auditing Directive and the PIE Regulation, and the International Standards on Auditing (ISAs). All things being equal, this harmonisation of the rules on audit reports across Member States, of course, entails increased standardisation of audit reports across companies but, interestingly, for PIEs both the PIE Regulation and the new and revised audit report ISAs also entail increased customisation of audit reports between companies. At first sight, this customisation of PIE audit reports between companies seems incompatible or inconsistent with the general standardisation of audit reports across companies. However, the article shows that this, in fact, is not the case. Pursuing this purpose, the article identifies and discusses three overall audit report trends: (1) increased harmonisation of the rules on audit reports across Member States; (2) increased standardisation of audit reports across companies; and, for PIEs, (3) increased customisation of audit reports between companies. Auditing, Audit Reports, Audit Legislation, Auditing Directive, PIE Regulation, Public-Interest Entities (PIEs), International Standards on Auditing (ISAs), Key Audit Matters (KAMs)
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Seehausen, Jesper. "The ‘Rebirth’ of the EU as an Audit Legislator." European Business Law Review 32, Issue 2 (April 1, 2021): 355–88. http://dx.doi.org/10.54648/eulr2021013.
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In April 2014, important new audit legislation was adopted by the European Parliament and the Council, i.e. the 2014 Auditing Directive and the PIE Regulation. In the author’s opinion, the role of the EU as an audit legislator has significantly changed over time. More specifically, the new audit legislation indicates the ‘rebirth’ of the EU as an audit legislator. The article focuses on the role of the EU as an audit legislator, even though the EU also has an important role to play as an accounting legislator. The most important legislative acts when it comes to EU audit legislation are discussed. A number of important trends in EU audit legislation are also identified and discussed. These include an increased legislative focus on Public-Interest Entities (PIEs), a change from a ‘directive only’ to a ‘directive and regulation’ legislative paradigm, a legislative change from the ‘periphery’ to the ’core’ of auditing, ‘codification’ of provisions from the International Standards on Auditing (ISAs) in EU legislation as well as a discussion on a possible EU adoption of the ISAs. Auditing, audit legislation, 8th directive, green paper, financial crisis, auditing directive, pie regulation, public-interest entities (pies), international standards on auditing (ISAs)
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Кочинев, Yuriy Kochinev, Ашрафф, and Alio Ashraf. "Requirements Applicable to Audit of Financial Statements by International Standards." Auditor 2, no. 11 (November 25, 2016): 49–64. http://dx.doi.org/10.12737/22837.
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Th e paper analyzes the basic requirements applicable to the audit of fi nancial statements of International Standards on Auditing. Th e questions of audit planning, materiality, risk assessment, selection of audit procedures and evaluating the results, the auditor’s report are considered. It also reveals several positions of international standards requiring specifi cations in SRO-standards. Appropriate recommendations are suggested.
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Karimov Nematullah. "STAGES OF IMPLEMENTATION AND PROBLEMS OF IMPLEMENTATION OF INTERNATIONAL AUDITING STANDARDS IN UZBEKISTAN." International Academy Journal Web of Scholar, no. 1(43) (January 31, 2020): 19–25. http://dx.doi.org/10.31435/rsglobal_wos/31012020/6882.
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This article is devoted to the study of the problems of applying international audit standards in the Republic of Uzbekistan. The author identified the main problems of applying international audit standards in the practice of audit organizations of the Republic of Uzbekistan, which include: insufficient qualified personnel, high costs of training or staff development, a language barrier, the complete absence of special domestic computer programs, the complexity of the content and structure of international audit standards. Along with the programs, the author presents the advantages of applying international audit standards, which include: providing a unified approach to auditing at the international level; trust is established by investors, creditors and shareholders; comparability of audit results between companies and countries is provided, and the competitiveness of audit organizations of Uzbekistan in the international arena is guaranteed; providing support from international institutions: the World Bank, the World Federation of Exchanges, the International Organization of Securities Commissions, the Committee on Financial Stability, etc. Development prospects are also proposed through the creation of specialized centers whose main functions are: professional translation of International Auditing Standards, publication of a special literature, training and exchange of knowledge and experience.
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Mădălina, Salomia Maria. "Positive Research Regarding the Implementation of International Audit Standards at Romanian Entity Level." International Journal of Contemporary Research and Review 10, no. 07 (July 27, 2019): 21586–91. http://dx.doi.org/10.15520/ijcrr.v10i07.718.
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The research was based on critical analysis, in time and space, of the theoretical references underlying the organizational and methodological framework for the performance of financial audit, international auditing standards, as well as the integration of international and European requirements in the financial audit activity of our country, the scientific approaches in the field of auditing the financial statements, elaborated by the revision of the specialized regulations and in the second part, the stages of the organization of the financial audit activity, the methods and currently used techniques in the financial audit for obtaining the evidence elements, are provided.
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Muydinov, E., and A. Mamazhonov. "Documenting An Audit Of Financial Statements Based On International Auditing Standards." International Journal of Progressive Sciences and Technologies 25, no. 1 (February 27, 2021): 314. http://dx.doi.org/10.52155/ijpsat.v25.1.2833.
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The article discusses International Auditing Standard No. 230, entitled "Auditor's Working Papers", which plays an important role in practical audit activities. It is noted that the audit is planned and conducted in accordance with international standards and relevant legal and regulatory requirements.The article highlights the importance of the auditor's preparation of working papers in the development of the auditor's work plan, in the course of direct audit procedures and in the process of completing the audit and documenting its results, as well as the auditor's report.
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Mohammad, Yonis Omar, and Parzheen Shekh Mohammad Aziz. "Evaluating the Performance Quality of the External Auditor Under the Requirements of International Auditing Standards (ISA220-ISA700) An applied Research in A number of Auditing Offices Operating in Erbil- Kurdistan Region of Iraq." Journal of University of Raparin 9, no. 4 (September 29, 2022): 348–86. http://dx.doi.org/10.26750/vol(9).no(4).paper16.
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The work of the external audit is to provide services for auditing the financial statements and expressing an opinion on the financial statements in the economic units، and as it is known، the parties benefiting from the financial statements are many and many، such as investors، lenders، shareholders، and the government. In order to ensure the correctness and fairness of the financial statements، they must be audited by a person or an auditing institution، and this is what is called an external audit. Here، the importance of external auditing appears in the completion of high-quality and superior work to give reassurance to the parties using the financial statements. The research aims to define the requirements and scope of international auditing standards No. (220) and (700)، as well as assessing the quality of the professional performance of the external auditor by applying to five auditing offices operating in the Kurdistan Region of Iraq - Erbil to find out the strengths and weaknesses of the external auditor in the audit process By knowing the extent of his commitment in professional performance and in preparing the final report، with the requirements of international auditing standards No. (220 and 700). The research reached a number of conclusions، the most important of which is the following: The highest audit quality indicator was achieved by the Account Control Office No. (5) in accordance with the requirements of standards (220) and (700). And the lowest audit quality indicator in relation to compliance with the requirements of the standard (220) was achieved by the Account Control Office No. (1) As for the lowest audit quality indicator in relation to compliance with the requirements of the standard (700)، it was achieved by the Audit Office No. (2).. The most important recommendation is the researchers' recommendation to adopt international auditing standards in general، as it adds credibility to financial reports and contributes to supporting and achieving quality in the audit process.
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Stewart, Trevor R., and William R. Kinney. "Group Audits, Group-Level Controls, and Component Materiality: How Much Auditing Is Enough?" Accounting Review 88, no. 2 (September 1, 2012): 707–37. http://dx.doi.org/10.2308/accr-50314.
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ABSTRACT Auditing standards now mandate that group auditors determine and implement appropriate component materiality amounts, which ultimately affect group audit scope, reliability, and value. However, standards are silent about how these amounts should be determined and methods being used in practice vary widely, lack theoretical support, and may either fail to meet the audit objective or do so at excessive cost. We develop a Bayesian group audit model that generalizes and extends the single-component audit risk model to aggregate assurance across multiple components. The model formally incorporates group auditor knowledge of group-level structure, controls, and context as well as component-level constraints imposed by statutory audit or other requirements. Application of the model yields component materiality amounts that achieve the group auditor's overall assurance objective by finding the optimal solution on an efficient materiality frontier. Numerical results suggest group-level controls and structured subgroups of components are central to efficient group audits. Data Availability: Upon request, Dr. Stewart will provide Excel-based software that facilitates exploration and application of the model described in this paper.
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Bierstaker, James, Lawrence Abbott, and Susan Parker. "Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on IIA’s Exposure Draft of 2010 International Standards for the Professional Practice of Internal Auditing." Current Issues in Auditing 4, no. 2 (January 1, 2010): C1—C4. http://dx.doi.org/10.2308/ciia.2010.4.2.c1.
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SUMMARY: Recently, the Institute of Internal Auditor’s (IIA) Internal Audit Standards Board (IASB) conducted a comprehensive review of the International Standards for the Professional Practice of Internal Auditing (Standards). The IIA proposed changes to some of the Standards and also recommended new Standards. The IIA provided for a 90-day exposure period (from February 15, 2010, to May 14, 2010) for interested parties to examine and provide comments on the proposed changes and new Standards. The Auditing Standards Committee of the Auditing Section of the American Accounting Association provided the comments in the letter below to the IIA on the 2010 International Standards for the Professional Practice of Internal Auditing exposure draft.
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Brown, Veena L., Sean Dennis, Denise Dickins, Julia L. Higgs, and Tammie J. Schaefer. "Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on International Auditing and Assurance Standards Board Exposure Draft, Proposed International Standard on Auditing 220 (Revised): Quality Management for an Audit of Financial Statements." Current Issues in Auditing 13, no. 2 (August 1, 2019): C10—C19. http://dx.doi.org/10.2308/ciia-52493.
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SUMMARY In February 2019, the International Auditing and Assurance Standards Board (the Board or IAASB) issued a request for comment on its Exposure Draft, Proposed International Standard on Auditing 220 (Revised): Quality Management for an Audit of Financial Statements (ED-220). ED-220 explicitly requires the engagement partner to demonstrate sufficient and appropriate involvement in all phases of the audit, it describes certain activities that must be performed by the audit engagement partner, and it explicitly acknowledges the role of audit firm-level policies and procedures and the changing complexity of audit engagement teams. The comment period ended on July 1, 2019. This commentary summarizes the participating committee members' views on selected questions posed by the IAASB. Data Availability: ED-220, including questions for respondents, is available at: https://www.ifac.org/publications-resources/exposure-draft-international-standard-auditing-220-revised-quality-management.
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Лосева, Н., and N. Loseva. "Philosophy of International Standards of Auditing in the Theory and Practice of Russian Audit." Auditor 4, no. 2 (March 19, 2018): 22–28. http://dx.doi.org/10.12737/article_5a8d6644d6b371.64750276.
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The article examines the structure of the international audit standards and the Audit Quality Concept developed by the IAASB, the factors and conditions for ensuring the quality of audit services in Russian auditing practice.
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Seehausen, Jesper. "‘Future Trends in Auditors’ External Reporting: Inspiration from the UK?" European Company Law 18, Issue 2 (March 1, 2021): 48–59. http://dx.doi.org/10.54648/eucl2021007.
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For the time being, the International Standards on Auditing (ISAs) and, for Public-Interest Entity (PIE) audit reports, the PIE Regulation constitute the regulatory foundation for audit reports within the EU, together with the national act in each Member State that implements the Auditing Directive and with any other relevant national legislation or regulation. However, further changes to auditors’ external reporting may lie ahead. The purpose of this article is to discuss these possible changes. The article focuses on the UK, where a number of important and possibly ‘game changing’ reports have recently been published – especially following the collapse of Carillion. Admittedly, after Brexit, the UK will of course no longer have a direct influence on EU legislation, including audit legislation. However, there is reason to believe that the UK will remain one of the ‘driving’ countries within auditing and UK hence continue to exert significant influence on audit regulation. Besides a brief description of Carillion and its collapse, the article discusses the Kingman Review and the Brydon Report, which both include interesting considerations on auditors’ external reporting. Only time can tell which changes will actually be implemented, how, when and not forgetting where. Auditing, Auditors, Audit Legislation, Auditing Directive, Public-Interest Entities (PIEs), PIE Regulation, International Standards on Auditing (ISAs), Audit Reports, Key Audit Matters (KAMs), Carillion, Kingman Review, Brydon Report, Company Law, UK Companies Act
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Lauck, John R., Stephen J. Perreault, Joseph R. Rakestraw, and James S. Wainberg. "Strategic Audit Inquiry: The Impact of Timing and the Promotion of Statutory Protections on Client Fraud Disclosures." Accounting Horizons 34, no. 3 (April 1, 2020): 153–67. http://dx.doi.org/10.2308/horizons-18-101.
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SYNOPSIS Auditing standards require external auditors to inquire of client-employees regarding their knowledge of actual or suspected fraud (PCAOB 2010b; AICPA 2016). However, the extant literature provides little guidance on practical methods that auditors can employ to increase the likelihood of fraud disclosure and improve audit quality. Drawing upon best practices in the whistleblowing literature and psychological theories on self-regulation, we experimentally test the efficacy of two practical strategies that auditors can employ during the fraud inquiry process: actively promoting statutory whistleblower protections and strategically timing their fraud inquiries. Our results indicate that auditors are more likely to elicit client-employee fraud disclosures by actively promoting statutory whistleblower protections and strategically timing the fraud inquiry to take place in the afternoon, when client-employee self-regulation is more likely to be depleted. These two audit inquiry strategies should be of considerable interest to audit practitioners, audit committees, and those concerned with improving audit quality. Data Availability: From the authors by request.
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Ialatekey, Ibrahim Maree, and Gomaa Saeed Tohamy Abdelgawad. "Application of Internal Auditing at Egyptian Universities in the Light of International Standards." Arab Journal For Quality Assurance in Higher Education 10, no. 27 (December 19, 2016): 189–222. http://dx.doi.org/10.20428/ajqahe.v10i27.1107.
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Abstract:The current paper aims to study the internal audit and its important standards, fields, and its current status, and then develop a proposal for internal audit model in Egyptian universities.To achieve this goal, the descriptive method was used drawing on expert opinions about the areas and factors of successful internal audit in the Egyptian universities.The most important results revealed by this study research were that the degree of applying the internal audit at Egyptian universities in general is weak and its overall relative weight average was (1.47) due to the lack of internal audit units, and the review is limited only to the National Authority of quality assurance and accreditation which is concerned with external review for the purpose of institutional accreditation. As for the significance of internal audit the degree of was (2.64) from the point of view of experts. Then, a proposed model of internal audit of Egyptian universities was suggested which aims to create an internal audit unit in each institution, after identifying its areas and standards based on the international standards.
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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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Loseva, N. "Topical Issues of Development of Audit Activity in Russia." Auditor 6, no. 9 (September 24, 2020): 30–34. http://dx.doi.org/10.12737/1998-0701-2020-30-34.
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The article discusses topical issues of the development of audit activities, the quality of audit services, quality assurance, quality management of audit services in the context of the application of international auditing standards.
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Sari, Caecilia Mesian Anggit, and Rustiana Rustiana. "Pemetaan Penerapan Standar Audit Berbasis ISA Pada Kantor Akuntan Publik (KAP) di Daerah Istimewa Yogyakarta." MODUS 28, no. 1 (March 26, 2016): 23. http://dx.doi.org/10.24002/modus.v28i1.663.
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Abstrak Tujuan dari penelitian ini adalah untuk memetakan penerapan standar auditing berdasarkan International Standards on Auditing (ISA) di Kantor Akuntan Publik (KAP) di Yogyakarta. Penelitian ini merupakan penelitian kualitatif yang menggunakan wawancara mendalam dan kuesioner terbuka untuk mengumpulkan data dari KAP. Sampel penelitian adalah 6 dari 12 KAP di Yogyakarta. Analisis data menggunakan analisis deskriptif dan wawancara intensif dengan para pengambil keputusan dari KAP (manajer atau partner). Hasil penelitian menunjukkan bahwa 50% dari KAP di Yogyakarta berada pada tahap mengetahui (level 1), 17% pada tahap aplikasi (level 3), dan 33% pada tahap pendidikan (level 4). Implikasi dari penelitian ini adalah bahwa KAP di tingkat 1 harus berkontribusi secara aktif untuk mencari informasi tentang audit dari badan usaha kecil berdasarkan ISA yang telah diterbitkan oleh Ikatan Akuntan Indonesia. Pertanyaan dan Jawaban (TJ) buku pegangan berisi prinsip-prinsip audit yang berbasis ISA untuk badan usaha kecil dan menengah. Buku panduan ini dimaksudkan untuk membantu auditor dalam menerapkan standar audit yang relevan secara efektif dan efisien. Kata kunci: International Standards on Auditing (ISA), Kantor Akuntan Publik, Auditor Abstract The aim of this study is to map the application of the auditing standards based on the International Standards on Auditing (ISA) at public accounting firms in Yogyakarta. This study is a qualitative research that uses in-depth interviews and open-questionnaires to collect data from public accounting firms. The research sample consists of 6 of 12 public accounting firms. Data were analyzed by using descriptive analysis and intensive interviews with the decision makers of public accounting firms (managers or partners). The results show that 50% of public accounting firms in Yogyakarta are at the stage of knowing (level 1), 17% at the application stage (level 3), and 33% at the stage of education (level 4). The implication of this study is that the public accounting firms at level 1 should contribute actively to seek information about the audit of small business entities based on ISA which has been issued by the Indonesian Institute of Accountants. The Questions and Answers (TJ) handbook contains the ISA-based audit principles for small and medium business entities. This handbook is intended to assist the auditor in applying relevant audit standards effectively and efficiently. Keywords: International Standard on Auditing (ISA), Public Accounting Firm, Auditor
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Кочинев, Yuriy Kochinev, Ашрафф, and Alio Ashraf. "Prospects for Standardization of Audit in the Russian Federation." Auditor 2, no. 2 (February 11, 2016): 12–18. http://dx.doi.org/10.12737/17947.
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This article contains questions on the standardization of auditor`s activities in the Russian Federation. The
provisions of legislation, which regulate auditing activities in the Russian Federation and establish the procedure of
auditing standards, have been analyzed. The problems, connected with the transition from the three-level system of
the audit standards in the Russian Federation to the two-level, have been considered. Tendencies and perspectives of
standardization of audit in the Russian Federation in connection with the transition to international standards have
been identified.
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Shalimova, Nataliia, and Iryna Androshchuk. "Assurance Engagements and Assurance Engagements Other than Audit or Review of Historical Financial Information: Trends of Introduction in Audit Practice and the Development of Standardization Processes." Central Ukrainian Scientific Bulletin. Economic Sciences, no. 6(39) (2021): 163–78. http://dx.doi.org/10.32515/2663-1636.2021.6(39).163-178.
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The problem of modern audit development is the trend of using classical approaches to the classification of audit in determining the areas of improvement of organizational and methodological foundations of the engagements in which the subject matter are various objects. Determining the key principles of development of the organization and methods of performing audit services requires an in-depth analysis of the historical development of the audit, determining its further development, taking into account historical landmarks. The aim of the study is to systematize current trends in audit development and assurance engagements, to investigate trends in regulation of assurance engagements as a whole and assurance engagements other than audit or review of historical financial information, to justify the development of national practice of standardization of their implementation. Trends in the development of auditing in the historical context are systematized in accordance with the processes of using the term "assurance engagement". The historical stages of introducing the concept of "assurance engagement" into audit practice are revealed. The trends in the formation of assurance engagements other than audit or review of historical financial information, in International Standards of Quality Control, Auditing, Other Assurance, Related Services are specified. A comparative analysis of the structure of the International Conceptual Framework of Assurance Engagements is presented. A comparative description of the content of International Standards of Assurance Engagements regarding the requirements for the organization and methodology of their fulfilling is proposed. The differences in the development of International Standards of Assurance Engagements from the International Standards on Auditing are specified, the directions and targets for the development of the national system of regulation and standardization of assurance engagements other than audit or review of historical financial information are substantiated.
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Drogalas, George, Alkiviadis Karagiorgos, Dimitrios Mitskinis, and Nikolaos Antonakis. "Evaluation of external audit services: An empirical approach on health care organizations." Risk Governance and Control: Financial Markets and Institutions 9, no. 2 (2019): 8–17. http://dx.doi.org/10.22495/rgcv9i2p1.
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The International Auditing Standards mainly concern the quality of audit work and their objective is to help the external auditor provide reasonable assurance for the financial statements with the most effective way. The aim of this paper is to evaluate external audit services based on the International Standards on Auditing. Specifically, there is an empirical approach in the health sector aimed at the investigation of the quality of the audit work, the general principles and responsibilities, the risk assessment, the audit evidence and using the work of others. To facilitate the progress of this research, a questionnaire was created and distributed to the employees of the Economic Departments of the largest health care organizations in Northern Greece. The results depict that “risk assessment”, “audit evidence” and “using the work of others” are factors that affect positively audit quality.
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Kazakova, Nataliya. "Analysis of the Results of Monitoring the Competence of Auditors in 2021." Auditor 8, no. 1 (February 4, 2022): 32–36. http://dx.doi.org/10.12737/1998-0701-2022-8-1-32-36.
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The article presents the results of the monitoring of auditors' competencies, carried out in September-November 2021 in accordance with the Action Plan for the implementation of the Concept for the development of audit activities in the Russian Federation for the period up to 2024, approved by order of the Ministry of Finance of Russia dated 12.02.2021 No. 68. Trends in changes the competence of auditors based on global research, current International Standards for Auditing Education and revised International Standards on Auditing. The generalized results of a survey of audit organizations within the framework of monitoring the auditor's competencies are presented.
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Nadhim, Ahmed Raad. "International auditing standards and their role in achieving financial transparency requirements in insurance companies." Journal of Research in Social Science And Humanities 3, no. 1 (April 4, 2023): 13–18. http://dx.doi.org/10.47679/jrssh.v3i1.37.
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The research discusses the role of International Auditing Standard No. 20, in achieving financial transparency, which has become an international requirement for organizations to classified and adopt their data as an economic indicator of the efficiency of the markets in which these organizations operate. And the research discussed the concept of international auditing standards and their relationship to achieving Elements of financial transparency through the application of its principles in organizations. And research reached a number of results, the most important is the weak interest of the auditing bodies in insurance companies to share the results of audit work with the media and the parties interested in the results of their work and their weak role in attracting researchers’ attention to the results of their work as part of the requirements Audit Standard No. 20.
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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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Datta, Sudip, and Alex Kostyuk. "Editorial note." Corporate Ownership and Control 15, no. 4-1 (2018): 134–35. http://dx.doi.org/10.22495/cocv15i4c1_editorial.
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The actual volume of Corporate Ownership and Control Journal is devoted to the issues of agency costs, value creation, CFO gender, ethics, risk-aversion, cloud accounting, internal auditing, external audit pricing and fees, executive compensation, corporate ownership, wage rigidity, board of directors, audit committees, information disclosure, international standards on auditing, private equity, firm value, earnings management, cash flows, blockchain, corporate social responsibility etc.
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Deng, Lingfeng, and Junying Peng. "Reflections on the Concept, Classification and Application of "Assertion" Under the New Standards." Frontiers in Business, Economics and Management 5, no. 3 (October 11, 2022): 64–68. http://dx.doi.org/10.54097/fbem.v5i3.1909.
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Continuing to converge with international auditing standards, China revised auditing standards in 2019. The new standard closely follows ISA 315, which revises the classification of "assertion". In auditing practice, certified public accountants need to correctly understand the concept and classification of "assertion", and use "assertion" reasonably to consider different types of potential misstatements that may exist in the entity, so that they can design and implement more targeted auditing. procedures to collect sufficient and appropriate audit evidence. The article sorts out the origin and evolution of the relevant theories of "assertion", combined with the identification and response to the misstatement of "assertion" in the audit practice work of Chinese certified public accountants, summarizes the misunderstanding and application of "assertion", and then from the two levels of theory and practice. Think about the concept, classification and application of "assertion", in order to enlighten the audit practice.