Download or read book An Agency theoretic Analysis of the External Auditors s Use of the Internal Auditor in Conducting the Financial Audit written by Marinus DeBruine and published by . This book was released on 1991 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An agency theoretic analysis of the external auditor s use of the internal auditor in conducting the financial audit written by Marinus DeBruin and published by . This book was released on 1996 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exploration of a Theory of Internal Audit written by Walter Hendricus Adrianus Swinkels and published by Eburon Uitgeverij B.V.. This book was released on 2012 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Scandals have undermined investor confidence in the management of firms and drawn global attention to how Management Boards of public firms are in-control of their operations. These scandals cleared the way for corporate governance committees to define new requirements on the control systems of public firms. However, the requirements of these committees did not prevent new problems with a number of firms, some of which published an in-control statement. This raises questions with respect to the effectiveness and completeness of the control of these firms, suggesting that possible quintessential elements or aspects are missing. The internal audit profession has been involved only indirectly in the discussion on corporate governance in the Netherlands. This thesis explores a theory of internal audit in relation to the nature and the control systems of Dutch public listed firms. This thesis explores literature and current practices to obtain a clear view of internal audits theoretical and practical contributions to the reasons of existence and scope of work in the control system of a firm"--Cover.
Download or read book A Multistage Approach to External Auditor s Evaluation of the Internal Audit Function written by Ganesh Krishnamoorthy and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Effect of the Internal Auditing on Financial Performance written by Shakir Al-ghalayini and published by GRIN Verlag. This book was released on 2015-04-15 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2013 in the subject Business economics - Investment and Finance, , course: Faculty of Commerce - Department of Accounting, language: English, abstract: It was clear from the recent financial scandals and fraud law suits in the international and regional firms that the internal control in general isn't as strong as should and that there are some weaknesses that led to this outcome and that why we are interested to investigate the internal control and the internal observation systems in the listed Palestinian corporations to put the lights on the real reasons and causes for such problem. Many researchers and observers believe that one of the main reasons for such problem is the insufficient reliance on the function of the internal auditor and not assigning this function with its real importance in the companies, especially if we consider how significant is this function becomes as the companies are getting larger and the operations are extending to be more in terms of the volume and the complexity and more importantly the competition is getting tougher among the companies. The internal audit is consider to be a type of the observational procedures that can be used to assess the effectiveness of the other observational and audit procedures and that is why many researchers consider it as the core of concentration in the audit hierarchy that supplement the other tools in ensuring these tools ability to safeguard the companies' assets, make sure about the fairness of the financial data and encourage the commitment in the managerial policies. [...]
Download or read book Communication in internal audit written by Joanna Przybylska and published by Wydawnictwo Poznańskiego Towarzystwa Przyjaciół Nauk. This book was released on 2021-01-11 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Empirical Study of External Auditor Reliance on Internal Auditors written by Loren Louis Margheim and published by . This book was released on 1984 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book External and Internal Auditing written by Michael Schemmann and published by Createspace Independent Pub. This book was released on 2010-10-23 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work is a Professional Study Guide for exam candidates of the IICPA's Certified Controller Program and candidates for The IIA's Certified Internal Auditor (CIA) examination (Part 1 of 4) as well as a desk top compendium for auditing practitioners. TABLE OF CONTENTS: External Auditing: Respective responsibilities, Objectives, Audit Engagements, Quality Control, Documentation, Fraud, Laws and Regulations, Communication, Deficiencies, Planning the Audit, Risk of Material Misstatement, Materiality, Assessed Risks, Entity Using a Service Organization, Misstatements, Audit Evidence, Specific Considerations, External Confirmations, Initial Audit Engagements - Opening Balances, Analytical Procedures, Sampling, Accounting Estimates, Related Parties, Subsequent Events, Going Concern Assumption, Written Representations, Special Considerations, Using the Work of Internal Auditors, Using the Work of Experts, Forming the Opinion, Modifications to the Opinion, Emphasis of Matters Paragraphs, Comparative Information, Other Information, Specialized Areas, Special Purpose Frameworks, Single Financial Statements, Smmary Financial Statements. Prospective Financial Information: AICPA AAG-PRO #4, Types of Prospective Financial Information & Their Uses, AAG-PRO #15 Examination Procedures Internal Auditing: The Institute of Internal Auditors (The IAA), Internal Auditing - An Overview, The International Standards for the Professional Practice of Internal Auditing & Glossary.
Download or read book Quality of Internal Auditing in the Public Sector written by Plamena Nedyalkova and published by Springer Nature. This book was released on 2019-10-17 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines key methodological and organizational questions with regard to assessing the quality of internal audits. By studying the status quo of these audits in the public sector, including municipalities, it identifies relevant weaknesses, loopholes and issues. In addition, the book assesses the strengths and weaknesses of the approved control system to explain the reasons why, and conditions under which, internal audits are ineffective, and proposes new metric and non-metric indicators to improve the quality of internal auditing. Given its scope, the book offers a valuable guide for anyone responsible for financial controls and internal audits, and will appeal to students and financial practitioners alike.
Download or read book The Reliance of External Auditors on Internal Audit s Use of Continuous Audit written by Irina Mălăescu and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As a response to the increased demand for timely and ongoing assurance over the effectiveness of risk management and control systems, companies are moving towards a more automated control environment through the implementation of continuous audit modules. The purpose of this study is to evaluate external auditors' reliance on internal audit's work when advanced audit techniques are introduced by the internal auditor and the impact this reliance has on budgeted audit hours. Prior literature suggests that internal control deficiencies also have an impact on external auditor reliance and the audit budget. The reliance decision of an external auditor has important economic consequences and implications for efficiency and effectiveness of the overall audit. In recent years, the PCAOB has encouraged greater such reliance to improve audit efficiency. An experiment is conducted with 87 experienced external auditors to investigate the theorized effects. Using a 2 x 2 between subjects factorial design, the frequency of the internal audit (traditional vs. continuous audit) and prior year material weakness (absent vs. present) are manipulated. Consistent with predictions, we find that auditors are willing to rely more on internal audit work in a continuous audit environment than in a traditional environment, and this effect is magnified when the prior year audit report on the effectiveness of internal controls indicates that controls are working properly. The presence of a material weakness, however, negatively impacts judgments on the budget for the valuation of a complex account. In addition, both material weakness and continuous audit have an impact on the overall audit budget, which is reduced only when the company has no prior year material weakness and a functioning continuous audit module is put in place. The results show that auditors increase budgeted hours for the engagement at a higher rate when the client uses traditional internal audit procedures.
Download or read book Relation Between Internal Auditors and External Auditors written by Cynthia Merhej and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: External auditors are auditors ensuring that the financial statements are free from material misstatements. However internal auditors focus on the company itself; where they are employees in most of the cases. Based on extensive literature review, we extracted the cornerstone for a good relation between both internal and external auditors. Auditors should be independent, objective, competent, having professional skepticism to gain management confidence and third party confidence. Collaboration between auditors enhances information reliability and control efficiency. Furthermore, collaboration between auditors reduces the effect of agency theory and facilitates communication between the principal and the agent. This project elaborates the relation between internal and external auditors, in Lebanon. We defined the factors that contribute to build up a trust relation and successful cooperation between internal and external auditors as well as the prevalent conditions for collaboration. To answer the previous issues we asked fifty auditors to complete questionnaires related to their academic knowledge and their experimental awareness. Forty five auditors responded our needs. The quantitative approach used, allowed us to conclude that, in Lebanon, the relation between internal and external auditors is fair. External auditors rely on internal auditors' work. However, internal auditors do not rely on the work of external auditors yet they use those latter works to validate and ensure their results. We can conclude, as well, from our work that auditors' independence, objectivity, competence and professional experience encourage trust between both internal and external auditors. In plus, we can consider that trust is based on cooperation endorsed by management and audit committee, professional confidence, internal audit competence, and effective communication between auditors. To add, holding periodic meeting, scheduling audit work, providing access to internal auditors' working papers, discussing possible accounting and auditing techniques, and using similar techniques and methodologies strengthen coordination between internal and external auditors.
Download or read book GAO Findings on Federal Internal Audit written by United States. General Accounting Office and published by . This book was released on 1980 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Relationship Between External and Internal Auditors written by Cecilia Young and published by . This book was released on 1989 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: The primary purpose of this study was to survey the accounting and auditing literature concerning the relationship between the internal and independent auditors and how they can work together. Statement on Auditing Standards (SAS) No. 9 states that independent auditors must evaluate internal auditors on competence, objectivity, and performance of work, but only provides very general and ambiguous guidelines. Two studies were examined to further define the characteristics stated in SAS No. 9. Competence was found to be related to the internal auditors' experience, education, and supervision. Objectivity required independence of internal auditors, adequate scope of departmental audits, and a high reporting level within the organization. Performance of work was based on quantity and quality of supervision within the internal audit department and the support from top management. The secondary purpose was to develop guidelines for reliance on internal auditors by external auditors. Four areas were found where reliance can be expanded. These areas are: testing of internal controls, preparation of workpapers, EDP auditing, and audit follow-up. The testing of internal controls can include more direct assistance in compliance testing of the system. Internal auditors may prepare workpapers prior to the financial audit. Internal auditors may also assist with EDP auditing because of their familiarity with the system. Finally, the role of internal auditor may be expanded to include audit follow-up.
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2000 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On overview of Federal and internal audit written by United States. General Accounting Office and published by . This book was released on 1976 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Common Body of Professional Knowledge for Internal Auditors written by Michael J. Barrett and published by . This book was released on 1985 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Changing Internal Audit Practices in the New Paradigm written by Glen L. Gray and published by Iia Research Foundation. This book was released on 2004 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:
