Audit and auditing literature review

Audit Evidence

Are tracking numbers provided by other internal functions i. In Zimbabwe this leaves securities regulation incomplete and hence more problems have been happening on the local bourse.

They have expanded into international networks, affiliating and marketing under a common name. Due to the increasing number of regulations and need for operational transparency, organizations are adopting risk-based audits that can cover multiple regulations and standards from a single audit event.

The SEC and other regulatory bodies determine which types of entities are subject to audit as well as the kind of information on which the auditor should report. To benefit the organisation, quality auditing should not only report non-conformance and corrective actions but also highlight areas of good practice and provide evidence of conformance.

Directors can be executive, non-executive or independent. According to the study, only 31 percent of internal audit functions reporting directly to the audit committee or the CEO devote more than 50 percent of their time to Sarbanes-Oxley compliance.

Indeed, it is precisely because of the inherent difficulty in isolating a link between a questionable influence and a compromised audit that any resolution of this issue must rest on our informed judgment rather than mathematical certainty.

Quite often the company's audit committee primarily composed of board members reviews and approves the audit plan.


Previous article in issue. Roberts defined sampling risk as: SAS 39 does not contemplate the use of the formula to conditionally revise an audit plan or to evaluate audit results. It shows that there are a number of complementary explanations that can be applied to examine the value of public audit, including agency, signaling, insurance, management control, governance and confirmation explanations.

Information technology audit

For the purpose of this study corporate governance is viewed in the realm of public listed companies. They operate on delegated board authority and in the majority of cases they have terms of references. We have considered each of these criticisms and address them below.

The evidence from research and history is generally consistent with the agency and management control explanations. Although there is growing interest in enterprise risk management more than 80 percent of respondents reported they conduct an annual enterprise-wide risk assessmentonly a handful of those surveyed said they update the internal audit risk assessment continuously, while 64 percent may be doing little or nothing between annual assessments.

Public faith in the reliability of a corporation's financial statements depends upon the public perception of the outside auditor as an independent professional. Economy — balance between benefits and costs to run the operations[ citation needed ] A control self-assessment is a commonly used tool for completing an operations audit.A Review of Financial Accounting Fraud Detection based on Data Mining Techniques Anuj Sharma techniques to financial accounting fraud detection.

The which is shown in Fig. 1, is based on a literature review of existing knowledge on the nature of data mining research [19,20], fraud detection research [1,3,16,17,18]. To organize the literature review, I classify the area of post-SOX audit committee research into five main domains: external auditing, financial reporting process, internal control deficiencies, earnings management, and other studies.

Supplemental Checklist for Review of Audit Engagements Performed in Accordance With Government Auditing Standards (Yellow Book) December Revision. This checklist is applicable to both not-for-profit and government entities.

Literature Review on Internal Audit Words Apr 5th, 8 Pages Survey finds internal audit risk assessments inconsistent Year: August, The report suggests that internal auditing needs to identify areas of high and moderate risk that are part of the internal audit plan but have been deferred or cancelled because of the organization's.

Research Database

Information and Communications Technology Literature Review. 5 · 1 Rating · 0 Reviews · Rate/Comment Changes in the technology used in the business world have an impact on the information and communications technology skills professional accountants need—both current accountants as well as aspiring accountants.

Auditor Independence and Audit Quality

This article presents a comprehensive review of academic research pertaining to auditor independence and audit quality. This literature review is conducted based on published articles during the period in nine leading journals related to auditing.

We organize our review around four main threats to auditor independence, namely, (a) .

Audit and auditing literature review
Rated 4/5 based on 57 review