Journal articles on the topic 'Auditing, Internal Evaluation'
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Botha, Lise Muriel, and Naomi Wilkinson. "A framework for the evaluation of the perceived value added by internal auditing." Meditari Accountancy Research 28, no. 3 (September 5, 2019): 413–34. http://dx.doi.org/10.1108/medar-02-2019-0448.
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Purpose The purpose of this study is to propose a framework for the evaluation of the perceived value internal audit functions add to their organisations. The framework is based on service quality measurement principles, specifically SERVPERF, which is applied to internal auditing. Design/methodology/approach Insights obtained from the literature on internal auditing and service quality disciplines were synthesised to identify and structure value-adding attributes of internal auditing. A thematic analysis of published profiles (by Protiviti) of various organisations’ internal audit functions were analysed and evaluated against those attributes identified in the literature to formulate an evaluation framework based on service quality measurement principles. Findings The identified value-adding attributes were categorised according to the dimensions of the SERVPERF service quality measurement instrument to formulate a framework for evaluation of the value added by internal audit functions. It was found that the SERVPERF dimensions appear to be relevant to internal auditing. The SERVPERF instrument was therefore adapted to evaluate the value added by internal auditing as a service. Practical implications This paper contributes to both the theory and practice of internal auditing by proposing formal dimensions of a value-adding internal audit service which can then serve as a reference point from which to evaluate the value added to an organisation. The framework can serve as a starting point for internal audit functions to develop their service offering and/or form the foundation of stakeholder satisfaction surveys. Originality/value The study contributes to the literature by applying service quality principles to internal auditing. A holistic framework that can be used for the evaluation of the value added by internal audit functions based on stakeholder perceptions is proposed. The framework juxtaposes attributes of value-adding internal auditing with recognised service quality performance measures. The notion of value added is investigated to better understand the concept in the context of internal auditing services.
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Janvrin, Diane J. "St. Patrick Company: Using Role Play to Examine Internal Control and Fraud Detection Concepts." Journal of Information Systems 17, no. 2 (September 1, 2003): 17–39. http://dx.doi.org/10.2308/jis.2003.17.2.17.
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This instructional case uses role play to provide students in accounting information systems or auditing with experience in evaluating a firm's internal control environment to assess the likelihood of errors and fraud. The objective is to illustrate how role play can reinforce two important systems/auditing topics: internal control evaluation and fraud detection. The case provides a framework for the discussion of internal control and fraud detection concepts developed in audit standards.
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Hanskamp-Sebregts, Mirelle, Marieke Zegers, Gert P. Westert, Wilma Boeijen, Steven Teerenstra, Petra J. van Gurp, and Hub Wollersheim. "Effects of patient safety auditing in hospital care: results of a mixed-method evaluation (part 1)." International Journal for Quality in Health Care 31, no. 7 (June 15, 2018): 8–15. http://dx.doi.org/10.1093/intqhc/mzy134.
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Abstract Objective To evaluate the effectiveness of internal auditing in hospital care focussed on improving patient safety. Design, Setting and Participants A before-and-after mixed-method evaluation study was carried out in eight departments of a university medical center in the Netherlands. Intervention(s) Internal auditing and feedback focussed on improving patient safety. Main Outcome Measure(s) The effect of internal auditing was assessed 15 months after the audit, using linear mixed models, on the patient, professional, team and departmental levels. The measurement methods were patient record review on adverse events (AEs), surveys regarding patient experiences, safety culture and team climate, analysis of administrative hospital data (standardized mortality rate, SMR) and safety walk rounds (SWRs) to observe frontline care processes on safety. Results The AE rate decreased from 36.1% to 31.3% and the preventable AE rate from 5.5% to 3.6%; however, the differences before and after auditing were not statistically significant. The patient-reported experience measures regarding patient safety improved slightly over time (P < 0.001). The SMR, patient safety culture and team climate remained unchanged after the internal audit. The SWRs showed that medication safety and information security were improved (P < 0.05). Conclusions Internal auditing was associated with improved patient experiences and observed safety on wards. No effects were found on adverse outcomes, safety culture and team climate 15 months after the internal audit.
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Savčuk, Olga. "INTERNAL AUDIT EFFICIENCY EVALUATION PRINCIPLES." Journal of Business Economics and Management 8, no. 4 (December 31, 2007): 275–84. http://dx.doi.org/10.3846/16111699.2007.9636180.
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Current business environment has experienced rapid and revolutionary change with far reaching consequences for companies worldwide. Management responses to fierce global competition include improved quality and risk management initiatives, reengineered structures and processes and greater accountability to ensure more timely, reliable and relevant information for decision‐making and to secure confidence and trust of the investors. Over the last few years the importance to the strong corporate governance of managing risk has been increasingly acknowledged. Companies are under pressure to identify all the business risks they face: social, ethical and environmental as well as financial and operational, and to explain how they manage them to an acceptable level. Therefore in order to reach its objectives each company has to develop and implement an approach to assessing and managing the uncertainties and opportunities it faces in the pursuit of its business strategy, with the intention of maximizing shareholder value and performance, i.e. meeting the determined objectives. Shareholders are extremely demanding with respect to the activities of the management and want an independent and objective assessment of the risk management and governance system the management is responsible for. In this radically changed business environment the internal auditing gained an important role within companies. Over the past sixty years internal audit developed from control function responsible for inspection of accounting and financial data to a strategic partner for the shareholders and the management of the company in improving governance processes. In current environment the management of the company more and more rely on the internal audit to evaluate whether controls are sufficient to manage risks and uncertainties. This developing role of the internal auditing is also reflected in its current definition, i.e. internal auditing is an independent, objective assurance and consulting activity designed to add value and improve a company's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Only efficient internal audit can perform its tasks properly. Internal audit efficiency depends on its subordination level, which must be appropriate for internal audit to be independent and objective, on the professional qualification and practical experience of internal audit staff, on the internal audit strategy, activities and value added to the company and on the ability to improve itself. The article analyses efficient internal audit establishment and support issues and internal audit efficiency estimation principles. Taking into account the scope of organization's direction and control, internal audit takes on important roles, integrating several other governance and control aspects into organizational governance and stands out as the most important, single mechanism for ensuring adequate and effective governance of the organization. The article provides criteria to assess efficiency of internal audit which could be applied when implementing internal audit function or improving the existing one.
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Orchard, Lou X., and Matthew L. Hoag. "Revenue Process Internal Control For Manufacturers: An Evaluation Tool For Independent Auditors And Managers." Journal of Business & Economics Research (JBER) 12, no. 2 (March 29, 2014): 137. http://dx.doi.org/10.19030/jber.v12i2.8527.
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Effective management of the revenue process is critical to the success and long-run viability of any business. The revenue process also entails an elevated risk area for financial reporting fraud (AICPA 2002; Beasley et al., 2010). Accordingly, this important process demands heightened attention from independent auditors and company managers, and internal control activities must be considered as part of the ongoing evaluations of this important area. This paper presents a tool for evaluating internal control objectives and activities pertinent to the revenue process for companies operating in the manufacturing sector. This evaluation tool may be used by independent auditors as a general benchmark in performing a preliminary evaluation of a manufacturing clients internal control over the revenue process. Independent auditors who will find the tool most useful will primarily be those wishing to comply with U.S. Generally Accepted Auditing Standards (GAAS), including those performing integrated audit engagements in accordance with Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 5 and the new requirements set forth in the Committee of Sponsoring Organizations of the Treadway Commissions (COSO) Internal Control Integrated Framework. In instances where important internal control activities have been omitted from the clients system, the auditor should consider whether the omission increases the risk of material misstatement. This tool may also be used by managers to evaluate the adequacy of their companys internal control activities within the revenue process.
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Morrill, Janet B., Cameron K. J. Morrill, and Lori S. Kopp. "Internal Control Assessment and Interference Effects." Behavioral Research in Accounting 24, no. 1 (December 1, 2011): 73–90. http://dx.doi.org/10.2308/bria-10074.
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ABSTRACT Both U.S. Generally Accepted Auditing Standards and International Standards on Auditing require risk-based audits, where audit effort is concentrated on accounts and financial statement assertions where the risk of material misstatement is high. Assessing risk requires the auditor to evaluate the auditee's internal control systems; however, current standards and practice vary regarding the point at which risks are to be identified. Using output interference theory, we hypothesize that risk assessment performed by the auditor before evaluating the client's internal control systems will lead to a more complete identification of sources of internal control deficiencies as compared to assessing risk after evaluating internal control systems. In our experiment, auditors who identified risks first identified more, and more important, internal control deficiencies than did auditors identifying controls first, although the number of risks identified was not significantly different between the two groups. Overall, our results suggest that audit efficiency and effectiveness depend on the sequence in which internal control evaluation subtasks are performed. Data Availability: Data are available from the authors upon request.
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Santos, Carlos, Pedro Sousa, Carla Ferreira, and José Tribolet. "Conceptual Model for Continuous Organizational Auditing with Real Time Analysis and Modern Control Theory." Journal of Emerging Technologies in Accounting 5, no. 1 (January 1, 2008): 37–63. http://dx.doi.org/10.2308/jeta.2008.5.1.37.
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ABSTRACT: The important role that has been played by organizational information systems in the maneuvering of organizations, particularly concerning their capacity to continuously adapt to new challenges using real time response, means that great care must be given to their evaluation and validation. Bearing this in mind, a system which has been evaluated and validated will reassure the stakeholders that the organization is trustworthy. The process of evaluating and validating is one of auditing which, in order to be performed according to good practice, should be based on an internal control system. This work presents a conceptual model for continuous organizational auditing using real time analysis and modern control theory. The main scientific components of this work are as follows: the consistent and coherent design of an internal control system based on modern control theory; the formal verification of the rules that make up the internal control system's specific aims; a conceptual model able to support continuous organizational auditing using real time analysis.
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Lylia Hamdan, Sunita, Nahariah Jaffar, and Ruzanna Ab Razak. "The Effects of Interaction between Internal Auditor and Audit Committee on Fraud Detection in Malaysia." International Journal of Engineering & Technology 7, no. 4.38 (December 3, 2018): 1338. http://dx.doi.org/10.14419/ijet.v7i4.38.27820.
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This study aims to examine the effect of interaction between internal auditor and audit committee on fraud detection in Malaysia. Specific interaction is firstly; audit committee approving the appointment of chief audit executive, the evaluation of chief audit executive, the dismissal of chief audit executive, the internal audit budget and the internal audit plan or program. Secondly, audit committee’s involvement in reviewing internal auditor’s work specifically; providing input for the internal audit plan, reviewing the results of internal auditing related to financial reporting, reviewing the results of internal auditing related to internal control, reviewing the results of internal auditing related to compliance with laws and regulation, reviewing the internal audit involvement in management responses to internal audit suggestions, reviewing the difficulties or scope restrictions encountered by internal auditors and reviewing the coordination between internal auditors and external auditors. Survey questionnaires were mailed to internal auditors attached to 782 companies listed on Bursa Malaysia’s main market. The results of this study suggest that involvement of audit committee in approving chief audit executives’ matters is insignificant on internal auditors’ contribution to fraud detection. However, audit committee’s involvement in reviewing internal auditors’ work significantly influence the internal auditors’ contribution in fraud detection.
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Bawaneh, Ahmad. "The Role of Internal Audit Computerization in Supporting the Task of External Auditing in Jordanian Insurance Companies." WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS 19 (December 31, 2022): 2015–26. http://dx.doi.org/10.37394/23207.2022.19.181.
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The study aimed to examine the role of the computerization of internal audits in Jordanian insurance companies in supporting the tasks of the external auditor. The study population consisted of managers and heads of internal audit departments, a number which is estimated at 112 in Jordanian insurance companies, of which there were 25 in the year 2021. Using a questionnaire as a primary source for the study data and relevant statistical methods to analyze the respondents’ answers, it is concluded that there is a significant impact for the computerization of internal auditing processes in supporting the tasks of external auditing, and that the computerization of internal auditing processes has a statistical impact on supporting risk assessment, internal control assessment, and the evaluation of audit evidence by the external auditor. The study recommended giving more attention to qualifying both external and internal auditors to work considering the widespread computerized environment, as well as conducting similar studies in different sectors to compare the results from other sectors with those from the Jordanian insurance companies’ sector in this study.
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Hanskamp-Sebregts, Mirelle, Marieke Zegers, Wilma Boeijen, Hub Wollersheim, Petra J. van Gurp, and Gert P. Westert. "Process evaluation of the effects of patient safety auditing in hospital care (part 2)." International Journal for Quality in Health Care 31, no. 6 (August 18, 2018): 433–41. http://dx.doi.org/10.1093/intqhc/mzy173.
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Abstract Objective To identify factors that explain the observed effects of internal auditing on improving patient safety. Design setting and participants A process evaluation study within eight departments of a university medical centre in the Netherlands. Intervention(s) Internal auditing and feedback for improving patient safety in hospital care. Main outcome measure(s) Experiences with patient safety auditing, percentage implemented improvement actions tailored to the audit results and perceived factors that hindered or facilitated the implementation of improvement actions. Results The respondents had positive audit experiences, with the exception of the amount of preparatory work by departments. Fifteen months after the audit visit, 21% of the intended improvement actions based on the audit results were completely implemented. Factors that hindered implementation were short implementation time: 9 months (range 5–11 months) instead of the 15 months’ planned implementation time; time-consuming and labour-intensive implementation of improvement actions; and limited organizational support for quality improvement (e.g. insufficient staff capacity and time, no available quality improvement data and information and communication technological (ICT) support). Conclusions A well-constructed analysis and feedback of patient safety problems is insufficient to reduce the occurrence of poor patient safety outcomes. Without focus and support in the implementation of audit-based improvement actions, quality improvement by patient safety auditing will remain limited.
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Коське, M. Koske, Воюцкая, and I. Voyutskaya. "Internal control as a duty of the economic subject and object evaluation of the auditor." Auditor 1, no. 1 (February 25, 2015): 40–47. http://dx.doi.org/10.12737/12789.
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The article deals with the problem of the internal control system consciousness of any business unit or an auditor in compliance with the “Accounting Act”, Auditing Standards and
Global best practices. Also the conditions of recognition the reliable fact of the internal control system existence were set up.
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Deab Abid, Ihsan. "The Impact Availability of the Components of Internal Auditing By Adding Value in Government Units in Iraq." Journal of Social Sciences Research, SPI 1 (November 15, 2018): 253–66. http://dx.doi.org/10.32861/jssr.spi1.253.266.
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This study aims to identify the concept of adding value, the role of internal auditing in adding value and its location in the value chain, and identifying stakeholders, the internal audit components for their addition, its adding value activities, and the indicators needed to determine the expectations of stakeholders in the value of internal audit activities. In order to reach the objectives, the study presented a theoretical presentation and a questionnaire was prepared for the opinions of 78 employees of internal audit units, public administrations, supervision bodies and academics specialized in accounting and auditing. The study found that the internal audit components for adding value in government units are efficiency and quality. Assurance, insight, objectivity. Internal auditing has a number of value-adding activities: identifying areas of spending reduction, reducing fraud and Manipulation, increase the reputation of the unit, paying attention to stakeholders’ satisfaction and expectations, improving information communication. There is a correlation between these components and the internal audit activities value-adding as well as their positive impact in adding value. And the measures of adding value: the growth rate in the Employees training and information technology expenses, the percentage applied from the internal audit recommendations, the percentage of the decrease in irregularities discovered by the SAIs, Stakeholder satisfaction ratio, percentage of tasks implemented/ planned, Percentage of the amount of violations measured to annual expenditure, Number of times support requested by SAIs, The growth in the number of annual reports, the number of requests received for the perform of auditing tasks, the amount of reduction in proposed expenditures relative to annual unit expenditures, percentage of The amount of reduction in the proposed expenditures To the annual unit expenses. The study made several recommendations, the most important of which is the need to establish local internal auditing standards, Mechanisms for employment and rotation of staff in internal audit units, attention by training them on the use of modern technologies, subordinated to periodic tests, work to achieve independence by making them administratively linked to the provincial treasuries, Adoption of measures of adding v alue in internal audit and executive management evaluation.
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Pîrvuţ, Valentin. "Auditing of the Computerised Information Systems in the Military Organization." Scientific Bulletin 21, no. 1 (June 1, 2016): 36–39. http://dx.doi.org/10.1515/bsaft-2016-0034.
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Abstract An internal public auditing mission is a complex process with multiple objectives and auditable objects, which offers a most complete management of the audited entity’s identified risks and proposes solutions and recommendations for limiting their impact. In the informatics segment, the calculators, informatics systems (the operation systems, the informatics applications used in the entity, the accounting management systems of the data bases), the communication networks, the procedures and operations adjacent to the informatics systems, the policies in the system are subjected to control and evaluation. To this end, due to the importance the use of the calculator grants within the entities, in some countries there have been elaborated several normative acts regulating the use, control and auditing of the electronic devices used for processing the data. Thus, the most important regulations referring to the auditing within the computerized information systems (CIS - Computerized Information Systems) are the ISA ( International Standards on Auditing) and IAPS ( International Auditing Practice Statement) standards elaborated by IFAC ( International Federation of Accountants).
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Krishnamoorthy, Ganesh, Theodore J. Mock, and Mary T. Washington. "A Comparative Evaluation of Belief Revision Models in Auditing." AUDITING: A Journal of Practice & Theory 18, no. 2 (September 1, 1999): 105–27. http://dx.doi.org/10.2308/aud.1999.18.2.105.
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External auditors typically gather audit evidence in a sequential fashion and revise their estimates of likelihood of material misstatements based on the evidence collected. Optimal utilization of audit evidence can help control audit risk and improve audit efficiency and effectiveness. This paper first shows how a typical audit risk assessment and belief revision task can be modeled using four theoretical models of belief revision. Then the descriptive properties of these models are evaluated based on the actual judgments of experienced auditors who assessed the likelihood of error in a task involving inventory valuation. A realistic audit case was administered to 101 experienced auditors. Models based on the following theories were evaluated: a version of Bayesian inference labeled Cascaded Inference Theory (Schum 1987; Schum and DuCharme 1971), two versions of the Belief Adjustment Model (Hogarth and Einhorn 1992), and a version of the Dempster-Shafer Theory of Belief Functions (Srivastava and Shafer 1992; Shafer 1976). The experimental task involves belief revision after combining evidence about the reliability of a client's internal control system with substantive evidence relating to inventory pricing. Both the experimental and manipulation check results show that the auditors were sensitive to differences in the source reliability and diagnosticity of the manipulated audit evidence. The analytical results reveal that the four models differ in the way they interpret evidence relating to internal control system reliability and the manner in which such evidence is aggregated with price test evidence. Yet, all four models correctly predict the direction of auditor belief revision. The study reveals that important structural differences in the models result in differences in the magnitude, but not the direction of belief revision. This theoretical and empirical evidence has heretofore been unavailable in the literature. Further, the version of the Hogarth and Einhorn (1992) Belief Adjustment Model that views control systems reliability as negative evidence is the only model that captures both the direction and magnitude of auditors' belief revision. Finally, auditors' belief revision was lower than that predicted by the remaining three models, with the extent of discounting ranging from 31 percent to 40 percent. Under-utilization of evidential value with respect to any of the models implies opportunities to improve audit performance either through training or with decision aids. The paper discusses implications for both audit theory and practice.
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Gottschalk, Petter. "Evaluation of Fraud Examinations: A Contingent Approach to Private Internal Investigations." Policing: A Journal of Policy and Practice 13, no. 4 (September 6, 2017): 386–96. http://dx.doi.org/10.1093/police/pax052.
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Abstract The business of private internal investigations by external fraud examiners has grown remarkably in recent decades. Law firms and auditing firms are hired by private and public organizations to reconstruct the past when there is suspicion of misconduct and potential financial crime. This article has presented an empirical study of 49 private internal investigations in Norway that were publicly available. A contingent approach to investigations was applied, where private investigations at later stages are facing different mandates than investigations at earlier stages in the criminal justice system. This research has been exploratory by indicating that fraud examiners make a higher level contribution at later stages in the criminal justice system.
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MESSIER, WILLIAM F., and ARNOLD SCHNEIDER. "A hierarchical approach to the external auditor's evaluation of the internal auditing function." Contemporary Accounting Research 4, no. 2 (March 1988): 337–53. http://dx.doi.org/10.1111/j.1911-3846.1988.tb00670.x.
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Al Twaijry, Abdulrhman. "An Evaluation of the Performance of Internal Auditing in the Arabian Gulf Region." Arabian Journal of Accounting 7, no. 1 (May 1, 2004): 91–112. http://dx.doi.org/10.12785/aja/070103.
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Krishnamoorthy, Ganesh. "A Multistage Approach to External Auditors' Evaluation of the Internal Audit Function." AUDITING: A Journal of Practice & Theory 21, no. 1 (March 1, 2002): 95–121. http://dx.doi.org/10.2308/aud.2002.21.1.95.
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External auditors are continually facing intense pressure to be more efficient in conducting audits without compromising quality and effectiveness. Optimal utilization of internal audit work can improve both the efficiency and the effectiveness of external audits and can enhance the value of internal auditors to the client organization. The objective of this study is to understand how the three factors (objectivity, work performance, and competence of the internal auditors) identified by auditing standards and by prior research interact in determining the strength of the internal audit function. Most prior studies have attempted to understand external auditors' rank ordering of the importance of the three factors, without an explicit attempt to model the interactions among the factors. The results from these studies are mixed and inconclusive. Hence, prior studies have not produced a consensus about how external auditors seem to weight and combine these factors in order to make assessments relating to the strength of the internal audit function. This study employs analytical methods based on Bayesian probability to model external auditors' evaluation of the internal audit function. Specifically, models based on multistage (cascaded) inference theory are developed and analyzed using numerical sensitivity analysis. The modeling contribution is significant in the sense that it is the only study that provides a theoretical model for the decision process. Results reveal that the importance of the three factors varies with the type of evidence (convergent or conflicting) observed and is contingent on the interrelationships among the three factors. A major conclusion of this study is that in the Bayesian context, it is futile to attempt a ranking of the factors since no single factor will dominate under all conditions. The study also provides avenues for future research and for improving the guidance provided by professional auditing standards that relate to the evaluation of internal audit work.
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Falah Al Samara, Mohammad, Osama Abdulmunin Al Ali, and Jamal Hassan AL Afeef. "The Impact of External Shari'ah Auditing on the Efficiency of Jordanian Islamic Banks Performance." International Journal of Business and Management 14, no. 5 (April 25, 2019): 183. http://dx.doi.org/10.5539/ijbm.v14n5p183.
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This study aimed to explore the impact of external Shari'ah auditing on the efficiency of Jordanian Islamic banks performance. This study has used SEM to analyze collected data from auditors and employees in Islamic banks in Jordan. This study has used a questionnaire to explore the perception of external Shari'ah audit of Islamic banks in Jordan, then the model estimated, after dropping the variables show good model fit indicators. this study examined the effect of Shari'ah audit through eight construct and found that, seven constructs significantly affect Islamic banks performance, i.e. planning, risk assessment, materiality assessment, sampling, internal controls-testing, evaluation of observations and Shari'ah non-compliances, using the work of relevant internal functions leads to better efficiency of performances in Islamic banks, except internal control-assessment. This study has practical and significance contribution for Islamic banks about of importance external Shari'ah auditing on its efficiency.
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Fogarty, Timothy J., and Lawrence P. Kalbers. "An empirical evaluation of the interpersonal and organisational correlates of professionalism in internal auditing." Accounting and Business Research 30, no. 2 (March 2000): 125–36. http://dx.doi.org/10.1080/00014788.2000.9728930.
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Ragothaman, Srinivasan C. "The Madoff Debacle: What are the Lessons?" Issues in Accounting Education 29, no. 1 (August 1, 2013): 271–85. http://dx.doi.org/10.2308/iace-50597.
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ABSTRACT This paper describes the implementation of a “Ponzi scheme case study” in auditing classes at the undergraduate and the Master's level. This instructional case is based on the much-publicized Madoff Ponzi scheme. The case exposes students to several auditing-related concepts, including: (1) fraud auditing; (2) ethical reasoning and utilitarian principles; (3) affinity fraud and Ponzi schemes; (4) internal control evaluation; (5) governance issues; (6) the Securities and Exchange Commission (SEC) investigations; (7) investment strategies and terminologies; and (8) regulation. The case provides students with an opportunity to assume the role of an external auditor and participate in some active learning exercises. About 170 accounting majors participated in this case project during a three-year period at a Midwestern university. Students who worked in groups were genuinely engaged in the learning process, and they came up with several red flags associated with the Madoff fraud and suggested many new internal controls. This case provides a hands-on learning experience to students that could be relevant for them in their future career in public accounting. Student opinion surveys conducted about the learning outcomes of this project indicate strong student engagement, active learning, and satisfaction.
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Bierstaker, James Lloyd, and Sally Wright. "A Research Note concerning Practical Problem-Solving Ability as a Predictor of Performance in Auditing Tasks." Behavioral Research in Accounting 13, no. 1 (January 1, 2001): 49–62. http://dx.doi.org/10.2308/bria.2001.13.1.49.
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The ability to recognize when there is a variety of solutions to a particular situation has been shown to be important to success in the accounting profession (Baril et al. 1998). Recently, a measure of ability has been developed in psychology that focuses on “practical” problemsolving ability (PPSA) (Devolder 1993). From a theoretical standpoint, relatively little is known about the association between ability and performance in accounting tasks. Thus, the purpose of this study is to investigate if PPSA predicts performance on two important auditing tasks, internal-control-evaluation and analytical procedures. Participants in this study (66 auditors and 78 accounting students) assessed vignettes of real-world financial problems and provided solutions to these problems. Participants also solved an analytical procedures and internal-control-evaluation task. The results suggest that PPSA was useful in predicting the performance of both accounting students and experienced auditors on both analytical procedures and internal-control evaluation. This is the first accounting study to examine PPSA. Practically, results suggest it may be important to attract students with high PPSA into the accounting profession.
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Afteni, Cezarina, Viorel Paunoiu, Gabriel-Radu Frumusanu, and Mitica Afteni. "EVALUATION, MONITORING AND AUDITING OF SUPPLIERS IN SUPPLY CHAIN MANAGEMENT." International Journal of Manufacturing Economics and Management 1, no. 2 (December 20, 2021): 6–18. http://dx.doi.org/10.54684/ijmem.2021.1.2.6.
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In the global market, the supply chain performances have a significant impact on the company’s business strategy. The quality requirements that must be followed by suppliers require permanent monitoring of processes of design, development, production, installation and service of products through audits qualified based on supply chain management. This paper presents an analysis of the supplier qualification process including the main phases as follows: evaluation, monitoring and auditing of suppliers in supply chain management. Internal quality audits and/or suppliers are one of the key instruments for ensuring sustainability and performance in supply chain management. Auditing of suppliers is a core component of the modern management of suppliers, with the help of which the customer can analyze precisely relevant processes to existing or potential suppliers. Supplier audits help both commercial partners to increase the transparency of the supply chain and also simplify supplier selection, evaluation, monitoring and development. The suppliers must meet the highest quality standards for products and processes. The main purpose of this paper is to give a general view of the supplier qualification process which involves the steps from initial identification until the inclusion of the supplier in the Approved Supplier List (LST). This list should be managed in such way that a complete traceability is assured. Following the proposed qualification diagram the customer can obtain an image about the status of one supplier, can also identify the weak points considering the evaluation, monitoring and audit class.
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Stefaniak, Chad M., and Robert M. Cornell. "Social Identification and Differences in External and Internal Auditor Objectivity." Current Issues in Auditing 5, no. 2 (December 1, 2011): P9—P14. http://dx.doi.org/10.2308/ciia-50104.
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SUMMARY Stefaniak et al.'s (2012) paper, “The Effects of Organizational Identification on Internal and External Auditors' Evaluation of Internal Control Deficiencies,” investigates how the relationships that internal (external) auditors form with their employers (audit clients) influence their objectivity. Stefaniak et al. (2012) found, in a case concerning an internal control issue, that when internal auditors are more attached to their employers, they are more conservative when control issues. Conversely, when external auditors are more attached to their audit clients, they are more lenient. The primary implication is that external auditors' reliance on internal auditors' work, as suggested by Auditing Standard No. 5, could yield an overall positive effect on audit efficiency and perhaps even effectiveness.
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Abdullah Adilli, Abdullah Adilli. "USED ANALYTICAL PROCEDURES IN INTERNAL AUDIT AND THEIR EVALUATION." Socio World-Social Research & Behavioral Sciences 07, no. 01 (March 20, 2022): 45–50. http://dx.doi.org/10.36962/swd07012022-45.
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Purpose of the study - This article presents the analytical procedures used in internal audit and their evaluation. Research methodology - A systematic and comprehensive approach to the problem under study, as well as methods for analytical processes and evaluation used in modern times. Importance of applied research - Provides recommendations for the development of the enterprise with a systematic approach to analytical procedures in the internal audit of enterprises. Research Findings - Provides advice on how to identify and prevent analytical procedures, errors, frauds, unusual or recurring operations or events. Originality and scientific novelty of research - The pace of economic growth, social welfare of people and sustainable development of the economy are increasingly dependent on the creation of new knowledge and its practical application. The organization's activities depend on a variety of sources, among which analytical procedures are becoming an increasingly important incentive for the organization to operate. Effective application of analytical procedures improves the quality of internal audit and reduces the cost of its implementation. The true value of internal audit is important to maintain a competitive advantage and increase the value of shares in the market, because it also determines the market value of organizations. This is why this article is sometimes written out of necessity. Keywords - analytical procedures, ınternational auditing standards, financial analysis, internal audit, reliability.
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Komsiyah, Indah. "Implementation of Internal Quality Assurance to Improve the Quality of Islamic Education." AL-ISHLAH: Jurnal Pendidikan 13, no. 3 (December 24, 2021): 2241–48. http://dx.doi.org/10.35445/alishlah.v13i3.1341.
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The purpose of this study was to examine the implementation of internal quality assurance of madrasah Aliyah Amanatul Ummah International Standard to improve the quality of education as one of the international-based madrasah. There were 30 participants involved in this study, of consisted of 1 kiai, 1 madrasah head, 1 deputy coordinator of madrasah, 27 teachers (ustads). They were selected by using purposive sampling. This research was a case study research design with a single case study model in qualitative research. The qualitative data were collected by using observation, documents and interviews. The data analysis technique used three activity flows that occurred simultaneously, namely, l) data reduction; 2) data display, and 3) concluding/verification. The results of data analysis indicated that the quality assurance process has an orderly flow by Standard Operating Procedures. The process started from setting evaluation standards, implementing evaluations, monitoring, self-evaluation, auditing internal academic quality as a whole, formulating corrections, and improving quality. This cycle was carried out continuously. Quality assurance improved the quality of Islamic education. It had a positive impact on sustainable quality assurance and the commitment of stakeholders to achieve quality education
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ÖNCE, Saime. "EVALUATION OF INTERNAL AUDITING ACTIVITY FOR GROWING AND CHANGING INFORMATION TECHNOLOGY ENVIRONMENT: ISE-100 EXAMPLE." Journal of Management and Economics Research 17 (2012): 38–70. http://dx.doi.org/10.11611/jmer3.
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Li, Pei, David Y. Chan, and Alexander Kogan. "Exception Prioritization in the Continuous Auditing Environment: A Framework and Experimental Evaluation." Journal of Information Systems 30, no. 2 (July 1, 2015): 135–57. http://dx.doi.org/10.2308/isys-51220.
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ABSTRACT Researchers have found that the volume of exceptions generated by a continuous auditing system can be overwhelming for an internal audit department to handle. In this paper, we propose and validate a framework that systematically prioritizes exceptions based on the likelihood of an exception being erroneous or fraudulent and evaluate the framework using an experiment. The framework consists of six stages: (1) generation of exceptions using defined rules, (2) assignment of suspicion scores to exceptions using belief functions, (3) exception prioritization, (4) exception investigation, (5) rule confidence level update utilizing back propagation, and (6) rule(s) addition utilizing a rule learner algorithm. We also simulate the proposed framework using an experiment. The experiment results provide evidence that the framework can be effective in prioritizing exceptions and thus maximizing audit efficiency.
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Milandru, Marius. "Considerations Regarding the Auditing of Information Systems." International conference KNOWLEDGE-BASED ORGANIZATION 22, no. 2 (June 1, 2016): 273–77. http://dx.doi.org/10.1515/kbo-2016-0047.
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Abstract At present the approach and application of management within the military organization is marked by the rethinking of managerial positions, scientific breakthroughs and know-how on one hand, and the concern related to the functionality and performance of departments on the other. Such aspects have demonstrated the utmost necessity of an intense and balanced approach to prediction, organization, training, coordination and control-evaluation. In the context of the contemporary globalized business environment, internal auditing has become an essential tool in the leadership of any organization, determining changes and transformations within its constitutive systems (accountancy, decision-making, information, etc.) as well functionality at a high level of performance. The purpose and importance of auditing lies in its stimulation and increase of efficiency within the organization or system it is conducted in, all the more so since it is applied impartially and without compromise, revealing the reality to the leading staff, assuring them that their strategy is correctly applied and that the expected effects in the use of supplies, efficiency and efficacy are the ones predicted.
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Haskin, Daniel L., and Teresa E. Haskin. "Evaluating Service Departments As Value Streams." Journal of Business & Economics Research (JBER) 12, no. 2 (March 29, 2014): 115. http://dx.doi.org/10.19030/jber.v12i2.8524.
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<p>Evaluation of the effectiveness and efficiency of service departments in a lean accounting environment is a subject that has received little attention. The cost of service departments is usually a substantial portion of the total costs of operating a business or other entity.</p> This paper proposes a unique method of evaluating service departments in a lean accounting environment by recasting them as value streams. The Internal Auditing department is used as an example, although these techniques are applicable to all service departments of entities that use the lean accounting model.
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A., Sagar,, and Ramanathan, K. "Factors that Play a Role in Improving the Efficiency of Continuous Audits using Computer Assisted Audit Techniques in enterprises including healthcare units." CARDIOMETRY, no. 24 (November 30, 2022): 385–92. http://dx.doi.org/10.18137/cardiometry.2022.24.385392.
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Internal auditing is a key function of any business enterprise, including healthcare units, being responsible for highlighting and bringing to notice of the upper management a fair evaluation of the organization’s internal control environment. With stakeholder satisfaction, compliance requirements, and value delivery increasingly taking centre stage, it functionally requires many organizations to adopt and implement a continuous auditing solution. Continuous auditing solutions often call for the adoption of various computer-assisted tools and techniques to help get the job done. The usage of these tools and techniques is subject to many different factors. This paper explores some of the factors that play a role in improving the efficiency of continuous audits using such tools and techniques. Auditors widely recognize Computer-assisted auditing techniques (CAATs). However, CAATs are not being used as widely as expected. The technology–organization–environment framework is used to identify and assess the organisational elements that influence CAAT utilisation after adoption. The purpose of this study is to see if using CAATs helps the auditing process. The usage of CAATs by audit firms and audit performance are both moderated by top management commitment. The data for this study was collected from Jordanian audit companies’ auditors. According to the conclusions of the investigation, CAAT adoption is determined by the cost–benefit of technology, company size, preparedness, and competitive pressure. The technical compatibility and complexity of client accounting information systems, on the other hand, appear to have little impact on CAAT utilisation. Top management has a direct impact on audit performance and is a key influencer in how CAATs are used by auditors. However, there is no correlation between audit firm usage of CAATs and audit performance (top management audit firm’s use of CAATs). Furthermore, the adoption of CAATs helps the whole audit process of audit companies.
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Asare, Stephen K., Brian C. Fitzgerald, Lynford E. Graham, Jennifer R. Joe, Eric M. Negangard, and Christopher J. Wolfe. "Auditors' Internal Control over Financial Reporting Decisions: Analysis, Synthesis, and Research Directions." AUDITING: A Journal of Practice & Theory 32, Supplement 1 (October 1, 2012): 131–66. http://dx.doi.org/10.2308/ajpt-50345.
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SUMMARY We synthesize the literature on auditors' evaluation of, and reporting on, internal control over financial reporting (ICOFR), as required by the Sarbanes-Oxley Act. The purpose of the synthesis is (1) to provide information on how and how well auditors perform the task, which serves as feedback to the Public Company Accounting Oversight Board on implementation issues and problems related to auditors' application of the professional standards on ICOFR; and (2) to identify gaps in the current literature and fruitful areas of future research. Consistent with Auditing Standard No. 5, we delineate five phases of the ICOFR audit: (1) planning; (2) scoping; (3) testing; (4) evaluation; and (5) reporting. We structure our synthesis using a framework that classifies the determinants of performance in each phase into five broad areas: (a) the auditor's attributes, (b) the client's attributes, (c) the interaction between the auditor and the client, (d) task attributes, and (e) environmental attributes. Key contributions include providing an ICOFR tasks taxonomy, proposing a model of the determinants of performance for each task, evaluating auditors' performance of the tasks in our taxonomy, highlighting findings and gaps of importance to regulators, and providing a road map for future research.
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Beridze, Tamta. "Information Technology Audit in Georgia." European Scientific Journal, ESJ 13, no. 25 (September 30, 2017): 72. http://dx.doi.org/10.19044/esj.2017.v13n25p72.
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With the development of information technology to carry out effectively their missions the largest part of a variety of organizations, government agencies and services have become dependent on computer systems. For each of the organization’s activities the IT environment must be properly studied and evaluated in which they perform the basic activities. Therefore, in such environment it is necessary to make the information technology audit of IT systems operating reliability and functionality in order to obtain reasonable assurance. IT governance and information systems audit is imperative for successful governance. This paper with a comprehensive literature review defines information technology audit, investigates how IT audit performs in the public sector of Georgia. Also it provides the thorough explanation of the experiences of the Georgian State Audit Office. The study analyses the challenges of the IT audit and point to future development directions of IT audit in the public sector. Although considerable research exists on IT control and on internal auditing, there is limited study that refers to IT evaluation control activities in the public sector auditing. As such, the findings from this research would generate new conclusion to enrich the existing literature on IT related auditing. The findings also may improve the IT evaluation activities in the Georgian public sector.
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Nerandzic, Branislav. "Internal control of enterprise." Privredna izgradnja 47, no. 1-2 (2004): 99–112. http://dx.doi.org/10.2298/priz0402099n.
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Outside the enterprise, internal control systems do not provide sufficient protection to investment decision makers from the possibility of great management fraud. However, the system of internal control is there to provide assurance for management of an enterprise that accounting information of an enterprise is reliable. Internal control systems, internal and external audit, never really had an exclusive task to protect an enterprise form fraud, or to protect the owner and wider public from management fraud. These days, especially, institutes for internal control and audit, are becoming modern management's instrument for running and managing business operations, and for permanent evaluation reliability of an enterprise. Internal control is a form of supervision of accounting and administrative controls, and something even more, it is a special value adding philosophy in an organization through its activities. Operational audit has exceeded internal audit. Operational audit is a widespread activity that is established to analyze organizational structure, internal control systems, and flow of a working process, wider evaluation reliability and management performance results. Operational audit is and instrument of business operations of an enterprise, management tool and its corrector. It measures the realization of an organization compared to its purpose and goals set. Operational audit deals with entire achievement of goals effectiveness of business procedures and internal control, performance of some managers and other non-financial aspects of business operations. Operational audit uses exceptional, special senses through logical auditing technique to realize the purpose of organizational goals, operations controlling processes, communication and information system.
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Hegazy, Mohamed, and Myada Tawfik. "Performance measurement systems in auditing firms." Journal of Accounting in Emerging Economies 5, no. 4 (November 2, 2015): 395–423. http://dx.doi.org/10.1108/jaee-04-2012-0014.
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Purpose – The purpose of this paper is to investigate challenges facing auditing firms in designing and measuring their performance and discusses why and how the balance scorecard (BSC) could support the auditing firms overcome such challenges. The paper contributes to the existing literature by identifying the peculiarity of the auditing firms in designing and implementing performance measurement systems including the need for sound and advanced information systems, subjectivity embedded in measuring customer satisfaction, growth and success of the firms and restrictions imposed by regulations and auditing standards for the provision of non-audit services which may increase the firms’ revenues and profits to help maintain high-quality outputs. Also, the paper provided evidence for the use of non-financial measures in service industry in particular for customers and finance. The unique dilemma in the auditing firms to provide services to satisfy customers yet maintaining distance and independence from them represent an important research question requiring investigation and study. Design/methodology/approach – A review of the literature for performance evaluation in general and in particular BSCs in service industries was made to identify challenges facing auditing firms when measuring their performance. Data were collected using case study approach; two auditing firms, one of the Big 4 and a medium size auditing firm with international affiliation operating in the Egyptian market were selected. Interviews, document analysis and participant observations were used in the analysis of each firm performance measurement system. Findings – The paper suggests that major challenges face auditing firms in measuring their performance mainly the size of the firm and its affiliation with international auditing firm, the qualification and experience of partners and audit managers needed for the design and implementation of a BSC or similar performance measures, the resources required for the introduction of such performance measure and the peculiarity of the auditor and client relationship with the need to maintain independence and confidentiality while providing high-quality services. Although both auditing firms being studied have formal performance measurement systems, they differ in their degree of comprehensiveness. In particular, the performance measurement system of the larger firm is more elaborate than that of the smaller one and both place more emphasis on qualitative measures such as learning and growth and internal business processes than financial measures. Research limitations/implications – Overall, the results have implications for understanding the performance measurement process of auditing firms in general and in particular in an emerging economy such as Egypt. The identification of the challenges facing auditing firms in measuring their performance and how the implementation of BSC can help partners and employees to overcome those challenges will add to the literature for performance evaluation in service companies. Future research should be carried to compare and assess differences between the behavioural aspects of performance measures in auditing firms and possible application of BSC in such firms and those used in services industry. Also, the practicality of implementing a BSC measures for different auditing firms should be investigated further in future research. Originality/value – The research among the first to investigate the challenges facing auditing firms in designing and operating a performance measurement system and to discuss, using case studies, how a BSC could support the auditing firms to overcome such challenges. Further, the research provides insights into performance measures in auditing firms in developing economies like Egypt which are sparse since most studies have been conducted in developed economies. Also, the paper enriches the literature of performance measurement systems in service rather than the manufacturing sector especially for medium and small size firms.
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Janvrin, Diane J., Maureen Francis Mascha, and Melvin A. Lamboy-Ruiz. "SOX 404(b) Audits: Evidence from Auditing the Financial Close Process of the Accounting System." Journal of Information Systems 34, no. 3 (October 31, 2019): 77–103. http://dx.doi.org/10.2308/isys-18-055.
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ABSTRACT Auditing Standard No. 5 requires that auditors integrate their evaluation of large issuers' internal control over financial reporting (ICFR) into their financial statement audit process, but the PCAOB warns that auditors may not adequately test related manual and systems internal controls. We use a multiple method approach to examine how auditors evaluate one important component of ICFR, the financial close process, and whether they evaluate it differently when conducting a SOX 404(b) integrated versus a financial statement audit. Interviewees relied heavily on walkthroughs, and tended to perform only cursory reviews of entity-level controls related to the financial close process. In addition, they often failed to test the link between the general ledger and supporting systems, including evaluating related access controls. Financial statement-only auditors were more likely to re-perform key controls than rely on cursory walkthroughs. Auditors performing integrated audits appeared to over-rely on ICFR findings when conducting financial statement audits. Data Availability: Interview data are available from the first author. PCAOB inspection reports are publicly available.
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Marques, Rui Pedro, Henrique Santos, and Carlos Santos. "Comparison and Evaluation of Organizational Transactions for Continuous Auditing and Business Compliance." International Journal of Information System Modeling and Design 9, no. 2 (April 2018): 1–23. http://dx.doi.org/10.4018/ijismd.2018040101.
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This article presents a comparator module which aims to compare, in real time, executions of organizational transactions with patterns of behaviors of these transaction executions, allowing the determination of which execution pattern is being followed by running each transaction. This is according to information received by the internal control mechanisms, which continuously monitors the transaction executions. A possible application using this module was deployed and results were obtained from a case study. The results prove effectiveness of the module, mainly because it is able to assess business compliance and the qualitative risk associated to each transaction execution while it is running, enabling an efficient continuous auditing application. The innovation of this article is ensured by the use of an ontological model to represent organizational transactions, which can be applicable to any type of transaction in any business area in order to audit transactions at a very low level, contrary to what happens in traditional auditing, which occurs at a high level (e.g. compare whether a completed transaction has followed a set of procedures). Besides the conceptualization, this work presents some technical details of development and discussion of results from the case study.
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Lehmann, Constance M., Cynthia D. Heagy, and Carolyn Strand Norman. "The Evaluation of Application Controls in Accounting Software: A Short Instructional Case." Journal of Information Systems 21, no. 2 (September 1, 2007): 87–98. http://dx.doi.org/10.2308/jis.2007.21.2.87.
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Internal control is a central topic in auditing and accounting information systems courses and is even more important since enactment of the Sarbanes-Oxley Act of 2002. The purpose of this case is to help students identify whether appropriate controls exist by attempting to execute unauthorized or improper transactions in a popular accounting software package. Students then compose a memo to summarize and explain the results of their transactions. This case helps students (1) identify application controls, (2) think about controls that may be weak, missing, or violated by an employee, and (3) consider and document potential risk exposures to an organization.
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Sarkis, Joseph, and R. P. Sundarraj. "Factors for strategic evaluation of enterprise information technologies." International Journal of Physical Distribution & Logistics Management 30, no. 3/4 (April 1, 2000): 196–220. http://dx.doi.org/10.1108/09600030010325966.
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In the last decade, we have witnessed companies investing in financially and laboriously expensive enterprise information technologies (EITs) that unify the internal and external supply chains for the purpose of gaining strategic advantages. As performance metrics data resulting from such investments are beginning to emerge, both practitioners and researchers are taking a critical look at whether these systems indeed produced the benefits proclaimed by their proponents at the pre‐implementation stages. In this context, the well‐managed appraisal, design, operation, and auditing of EITs within the ambit of organizational goals become significant. Provides a conceptual discussion on: a framework outlining a recommended decision process; a categorization of factors that must be considered during the process; and a summary of techniques and tools for the evaluation of those factors.
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Osimani, Andrea, Lucia Aquilanti, Stefano Tavoletti, and Francesca Clementi. "Evaluation of the HACCP System in a University Canteen: Microbiological Monitoring and Internal Auditing as Verification Tools." International Journal of Environmental Research and Public Health 10, no. 4 (April 17, 2013): 1572–85. http://dx.doi.org/10.3390/ijerph10041572.
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Verenhitach, Beatriz Daou, Simone Elias, Ana Claudia Patrocínio, Afonso Celso Pinto Nazário, and Angela Waizberg. "Evaluation of the clinical efficacy of minimally invasive procedures for breast cancer screening at a teaching hospital." Journal of Clinical Pathology 64, no. 10 (June 10, 2011): 858–61. http://dx.doi.org/10.1136/jclinpath-2011-200057.
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AimsTo assess the clinical efficacy of diagnostic procedures for breast cancer at a teaching hospital using internal auditing tools and quality control measures.MethodsA retrospective assessment of 500 patients who underwent core needle biopsy (wide-bore needle biopsy; WBN) of palpable or non-palpable breast nodes that were submitted for at least one cytological examination (fine needle aspiration (FNA) cytology and/or imprint of a WBN specimen). For statistical analysis the auditing tool and quality control proposed by the National Health Service breast screening programme was utilised.ResultsFor FNA, full specificity, positive predictive value, inadequate rates and suspicious rates were satisfactory while absolute sensitivity, complete sensitivity, false negatives and false positives were unsatisfactory. For imprint, absolute sensitivity, complete sensitivity, inadequate rate from cancers and suspicious rates were satisfactory, and the remaining indicators were unsatisfactory. WBN displayed the best performance with absolute sensitivity, complete sensitivity, false negative, suspicious rates, full specificity and predictive value showing satisfactory results and only one unsatisfactory result (false positive).ConclusionsBased on an overall analysis, WBN displayed the highest clinical efficacy compared with FNA and imprint, and demonstrated adequate safety for confirming the appropriate diagnosis and management of patients, ensuring the efficacy of the service.
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Achmad, Devi Afifah Sukmawardhani. "Risk Based Audit oleh Satuan Kerja Audit Intern pada PT. Bank JAT." Jurnal Ekonomi Akuntansi dan Manajemen 17, no. 2 (September 28, 2018): 137. http://dx.doi.org/10.19184/jeam.v17i2.18073.
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Based on Indonesia Bank Regulation Number 11/25/PBI/2009 about changes to the regulations of Bank of Indonesia Number 5/8/PBI/2003 which requires commercial banks in Indonesia to apply risk management in banking activities. The regulation requires banks indirectly push the activity of the audit process by applying risk-based Internal Audit (Risk Based Audit). Risk Based Audit is the audit that focused and prioritized in areas of high risk business segment. Implementation of Risk Based Auditing Standards refer to the Implementation of Internal Audit Function (SPFAIB) issued by Bank Indonesia and the Internal Audit Charter PT. Bank JAT. This reasearch aims to determine and evaluate the implementation of Risk Based Audit conducted by the Internal Audit Division (IAD) PT. Bank JAT is already in accordance with the standards of Bank Indonesia. Evaluation is conduct by distributing questionnaires to the Internal Audit Division (IAD) for the position, qualifications, work planning, risk assessment, and implementation of Risk Based Audit by the Internal Audit Division (IAD). Based on the evaluationl results of the implementation of Risk Based Audit in PT. Bank JAT, it can be concluded that the implementation has been in accordance with SPFAIB. Expected implementation of the Risk Based Audit is able to minimize the risk and incidence of irregularities that occurred in the activity of PT. Bank JAT.
Keywords: Risk Based Audit, Internal Audit Division (IAD)
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Zheng, Bella Zhuoru, Chris Patel, and Elaine Evans. "An experimental examination of judgments of Chinese professional auditors in evaluating internal control systems." Corporate Ownership and Control 12, no. 4 (2015): 791–806. http://dx.doi.org/10.22495/cocv12i4c7p9.
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Researchers have tended to assume that Anglo-American theories and practices are equally applicable to other countries with their unique contextual environments. The aim of this research is to show that the theoretical model and empirical research findings in Anglo-American countries, with respect to evaluation of internal control systems, are not applicable to China. Specifically, there are two approaches to evaluate internal control systems: one is a risk-based audit approach, and the other is a control-based audit approach. Morrill, Morrill, and Kopp (2012) show that Canadian accountants who relied on a risk-first approach identified significantly more internal control deficiencies than accountants who relied on a control-first approach. Contrary to the research findings in Canada, this study provides experimental evidence that Chinese auditors who relied on a control-first approach identified significantly more internal control deficiencies than auditors who relied on a risk-first approach. The findings have implications for global convergence of auditing practices.
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Ang, Emelyn, and Munish Kumar. "Greenhouse gases emissions evaluation for prospective energy projects." APPEA Journal 62, no. 2 (May 13, 2022): S1—S6. http://dx.doi.org/10.1071/aj21106.
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Greenhouse gas (GHG) inventory assessment, monitoring and auditing is becoming increasingly routine in oil and gas project evaluations. Already, some companies carry an ‘internal’ carbon cost reflected in projected capital and operational expenditure. Early evaluation allows for optimal planning of GHG mitigation and economic analysis inclusive of carbon costs, allaying concerns of investors and lenders. The challenge in evaluating pre-development, however, is the lack of real data and thus, uncertainties in field production. In this paper, we demonstrate the use of a Monte Carlo probabilistic method to better account for uncertainties in production, gas-oil ratio (GOR) and operation loads in a case study of a prospective oil field in offshore Western Australia. We compared the results to the scenario-based deterministic GHG emissions evaluation of the same field and found the deterministic estimates to be extreme representatives of the range of possible emission quantities, due to GOR and production uncertainties. From a breakdown of annual emissions, we also identified the emissions from flaring of excess natural gas to be one of the most significant mitigatable sources of emissions, due to the unexpectedly large production of gas over the project lifetime. Avoiding the flaring of excess gases alone could reduce the project’s emissions by ~44%. Through identifying these key sources and uncertainties, we are able to flag such unexpected, mitigatable sources of emissions at an early stage and provide a representative range of projected emissions, thus assisting the operator to make informed decisions in the field development.
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Alktani, Sultan, and Adel Ghareeb. "Evaluation of the Quality of the Internal Auditing Position in the Public Sector in Saudi Arabia: An Applied Study." Global Review of Accounting and Finance 5, no. 1 (March 2014): 93–106. http://dx.doi.org/10.21102/graf.2014.03.51.06.
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Kiiko, Yurii. "ANALYSIS AND EVALUATION BY THE INTERNAL AUDIT OF THE QUALITY OF THE BANK’S CUSTOMER PORTFOLIO." Business: Theory and Practice 23, no. 1 (February 23, 2022): 70–78. http://dx.doi.org/10.3846/btp.2022.13833.
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The speeding business operations and the necessity for strategically-oriented activities determine the relevance of research in the domain of business audit, including marketing. Given the feasibility of studying these aspects of internal control, the objective of this paper is to improve the existing methods of client portfolio analysis as well as theoretically justify new methods and ways of analysis and internal audit. According to the results of the study, the methods of ABC and XYZ analysis were amended and adapted for use in the banking sector, where ABC is based on ranking customers according to the operating and transaction income, and XYZ studies the frequency and regularity of transactions conducted by bank customers. The improved indicators applied to measure the profitable activity of a client’s portfolio in general and in terms of profit centres (business lines) enable to promptly identify a decline in the profitability of certain groups of customers,reveal its causes and offer effective solutions. The reorganization of the analytical part for client portfolio management and the implementation of ABC and XYZ analysis as well as other methodological approaches allow to monitor the dynamics of a bank’s client portfolio quality as quickly and effortlessly as possible. Analytical mechanisms for determining the quality of the bank’s client portfolio is one of the basic elements of internal audit, and this study proposes the optimal form of the internal auditor’s working document, which is best adapted to the needs of auditing business units, their quality and efficiency.
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Gunnarsdóttir, María J., and Loftur R. Gissurarson. "HACCP and water safety plans in Icelandic water supply: Preliminary evaluation of experience." Journal of Water and Health 6, no. 3 (March 1, 2008): 377–82. http://dx.doi.org/10.2166/wh.2008.055.
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Icelandic waterworks first began implementing hazard analysis and critical control points (HACCP) as a preventive approach for water safety management in 1997. Since then implementation has been ongoing and currently about 68% of the Icelandic population enjoy drinking water from waterworks with a water safety plan based on HACCP. Preliminary evaluation of the success of HACCP implementation was undertaken in association with some of the waterworks that had implemented HACCP. The evaluation revealed that compliance with drinking water quality standards improved considerably following the implementation of HACCP. In response to their findings, waterworks implemented a large number of corrective actions to improve water safety. The study revealed some limitations for some, but not all, waterworks in relation to inadequate external and internal auditing and a lack of oversight by health authorities. Future studies should entail a more comprehensive study of the experience with the use of HACCP with the purpose of developing tools to promote continuing success.
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Mira, Trisari D. N. B., Eko Sediyono, and Ade Iriani. "Audit Evaluasi Pemanfaatan Sistem Informasi Akademik di Universitas Kristen Wira Wacana Sumba Menggunakan Framework Cobit 5." JURNAL MEDIA INFORMATIKA BUDIDARMA 6, no. 1 (January 25, 2022): 337. http://dx.doi.org/10.30865/mib.v6i1.3334.
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Wira Wacana Christian University Sumba in supporting its activities as an educational institution is required to use the Academic Information System. Having an academic information system like the web-based Ecampuz certainly requires auditing, monitoring and evaluation of its performance so that the services produced continue to show good quality. The aim of this research is to evaluate and audit system by using Cobit 5 frameworks, while testing and measuring website quality is using the Apache Jmeter tool. The Cobit5 processes used are: Risk Optimization (EDM03), Security Management (APO13), Risk Management (APO12), Change Management (BAI06), Operations Management (DSS01), Service Requests (DSS02), Troubleshooting (DSS03), Security Services (DSS05), Work Monitoring and Evaluation (MEA01), Internal Control of Monitoring and Evaluation (MEA02). Gap analysis and Maturity Level are aimed at obtaining Audit results with good maturity. The results obtained from the average value based on the gap analysis of 10 Cobit5 processes is 1.2 and the Apache Jmeter test shows throughput of 101.746/minute and Deviation is 3671.
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Miftahul Hidayat, Mohammad, Dedi Purwana, and Agung Darmawan Buchdadi. "Development Of Auditor Competency Standard Models." International Journal of Scientific Research and Management 10, no. 03 (March 12, 2022): 3145–56. http://dx.doi.org/10.18535/ijsrm/v10i3.em2.
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The government's internal audit is directed at building commitments in order to create good governance and clean government. The audit program aims to assess the credibility of the management's accountability report on organizational responsibilities. Auditors must be objective and selective in conducting assessments and must be able (competent) and earnest in carrying out their duties. To ensure the objectivity of the evaluation, the auditor must be independent of the auditee (the party being audited), both personally and organizationally, and to ensure his ability, the auditor must have broad and comprehensive knowledge in auditing. As well as an adequate understanding of the area being audited. With the support of good planning, standardized audit stages, and active supervision, it can show the accuracy of task execution.
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Higgs, Julia L., and John T. Reisch. "Testing NCAA Compliance at Southeastern State University: A Case Study." Issues in Accounting Education 17, no. 1 (February 1, 2002): 95–100. http://dx.doi.org/10.2308/iace.2002.17.1.95.
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A large part of an auditor's work includes evaluation of an organization's compliance with laws and regulatory requirements, internal policies and procedures, and other rules that an entity must follow. The objective of this case is to assist you in understanding both the importance of compliance auditing, and the need for auditors to exercise professional judgment when interpretation of rules is required. The case involves a hypothetical university's adherence to NCAA rules and regulations. The first part of the case provides exposure to various resources needed to develop an understanding of both intercollegiate athletics and compliance with rules established by its governing body, the NCAA. The second part requires you to use judgment in interpreting different scenarios that may or may not indicate compliance violations.