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This study attempts to obtain an understanding of the impact of adopting big data and data analytics (BD&A) on various dimensions of the audit profession. This study aims to examine the effect of adopting BD&A on the audit process, auditor competence, and audit fees in a developing context, Egypt. It also examines the mediating effect of auditor competence on the association between BD&A, audit process, and audit fees. A questionnaire was developed and distributed among financial auditors, IT/IS auditors, and data analytics specialists working for audit firms with different sizes in Egypt. Responses from 205 audit practitioners were collected. Partial least square structural equation modeling was employed to test the research hypotheses. It was revealed that BD&A has a significant positive impact on the audit process and auditor competence. However, an insignificant association between BD&A and audit fees was found. Also, the results indicated that there is a positive significant relationship between auditor competence and audit process, and between auditor competence and audit fees. The mediation analysis reveals that auditor competence partially mediates the relationship between BD&A and the audit process. This indicates that while BD&A directly enhances the audit process, its full potential is realized when auditors possess advanced competencies. In contrast, the relationship between BD&A and audit fees is fully mediated by auditor competence, reflecting the critical role of skill development in justifying fee adjustments. [ABSTRACT FROM AUTHOR]

This study investigates the standardization of audit reporting for internal and performance audits in the public sector. This was accomplished with the help of a descriptive design that used a large body of literature as well as government reports and a questionnaire design. Only a small number of comparable studies testing standard reporting for internal and performance audit activities were found in the examined literature. Performance audit reporting is not aligned according to standard practice. The primary reason for the absence of standardized audit reporting currently is that traditional auditing uses a risk-based approach, whereas symptoms-based auditing uses a different approach. The study employed a convenience sample technique to gather data from 94 performance auditors working in three public sector departments. The questionnaires were self-administered. The results obtained demonstrate the respondents positively agreed that performance audits added value, with a p-value of < 0.001 significance to all variables related to the alignment, differences and similarities, and challenges of performance audit methodology. This is evidenced in the percentage of alignment (95%), while nearly one-third of respondents (28.6%) agreed that the differences and similarities exist in the audit methodologies. The results further show that 39.1% of respondents agree that the biggest perceived challenge facing performance audits is inadequate alignment of performance audit methodologies. Information on the standardization of audit reporting for internal and performance audits in the public sector is still scarce. Therefore, it is hoped that this study will advance public sector auditors' research methodology and practice. [ABSTRACT FROM AUTHOR]

This study aims to interpret the humanistic thinking of Chinese philosopher Confu-cius on the activity of integrating Artificial Intelligence (AI) into the process of au-diting financial statements. The qualitative-interpretive method was used for re-search purposes through in-depth interview techniques which were addressed to informants from audit firms that had used AI. The validity of the information was tested using triangulation of data sources from different audit firm informants. The main findings show that as humans who have cognitive, moral and ethical abilities, auditors can collaborate with AI without worrying that the existence of this profes-sion will be completely replaced by AI. However, excessive integration and tend to rely on auditors should be aware of so that high-tech assisted audit objectives such as AI work in harmony without eliminating the auditor's humanism such as skepticism and professional judgment that AI does not have. Social and ethical issues are chal-lenges in the use of AI and solutions will continue to be sought. Therefore, the audi-tor always maintains critical thinking, especially on the elements contained in AI technology, namely system predictability, dependability, reliability, robustness, understanding, explanation of intent, usability, and user familiarity with AI tech-nology.

This research aims to investigate the effect of sectoral specialization on audit firm rotation and its implications for auditing quality. The audit process is a critical component of the financial reporting process, as it helps to provide assurance that an organization's financial statements accurately reflect its financial position and performance. Audit firms may specialize in certain sectors, such as healthcare or financial services, and this specialization may enable them to better understand the risks and issues specific to those sectors. However, audit firm rotation (the practice of switching audit firms every few years) is often implemented as a means of enhancing auditor independence and objectivity, and may be more difficult to implement for firms with sectoral specialization due to the loss of specialized knowledge and resources. By analyzing data on audit firm rotations and auditing quality within different sectors, or conducting case studies of firms that have undergone audit firm rotation, this research will provide insights on the relationship between sectoral specialization and audit firm rotation, and the implications of this relationship on auditing quality. [ABSTRACT FROM AUTHOR]

In the last period, the importance of performance auditing missions in the public sector increased. This article presents an analysis of the current situation of performance audit in Romania and identifies the differences and similarities between this type of auditing and the other types of auditing missions made by supreme auditing institutions: financial audit and regularity audit. Based on both qualitative and quantitative analyzes, we can conclude that the performance audit is becoming an essential tool for improving the management of organizations in the public sector.

Copyright of Muhasebe ve Vergi Uygulamalari Dergisi (MUVU) / Journal of Accounting & Taxation Studies (JATS) is the property of Ankara Serbest Muhasebeci Mali Musavirler Odasi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study investigates auditors' assessment of the quality of their own audit engagements, utilising survey data gathered from a Big Four audit firm in Sweden. We first examine to what extent auditors' self-reported audit quality threatening behaviours (AQTBs) in the audit process are reflected in their assessment of overall audit quality (OAQ). The results indicate that AQTBs overall and all individual AQTBs are associated with quality assessment, though with variations in their significances. Second, we examine whether AQTBs and OAQ are associated with an auditor's stakeholder priority, i.e. which stakeholder the auditor considers as her highest priority in the audit work. We find that auditors who consider the employer as the highest priority report more AQTBs. However, priorities are not related to OAQ. Furthermore, auditors prioritising the client or employer tend to assess the overall audit quality as being higher than what the AQTBs would suggest (i.e. they over-assess the quality). Interestingly, the findings regarding priorities are only evident among partners. In sum, the findings of this study provide important insights on how auditors themselves assess their audit quality, and on the role of auditors' stakeholder priorities. [ABSTRACT FROM AUTHOR]

Copyright of Public Money & Management is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

To answer the call for more evidence on the adoption and effectiveness of Big Data Analytics in auditing, this study investigates auditors' use of data analytic tools in audit-process management, including audit planning, testing, and conclusions. The analysis, which is performed as a qualitative study, is based on twenty-eight semi-structured interviews with Big 4 and non-Big 4 audit professionals in Thailand to gain insights into their experience implementing audit data analytic tools in the initial stage. Findings suggest that auditors primarily use data analytic tools in audit planning and substantive testing. Nevertheless, auditors do not perceive a need to use these tools to test internal controls and conclude audit opinions. In addition, we find that auditors tend to apply audit data analytic tools for anomaly detection and testing management assertions. Overall, auditors perceive the benefits of audit data analytic tools in improving their audit process management. Findings present practical implications for audit firms and audit professionals, including how to initially implement data analytic tools effectively in auditing and as guidelines for regulators on how to develop auditing standards that govern the use of Big Data and data analytic tools. We note some limitations in this study, such as the generalizability of the results, auditors' personal biases, and the different tools and techniques used by each audit firm. [ABSTRACT FROM AUTHOR]

This paper examines the impact of audit planning, audit strategy, and audit documentation on the effectiveness of the audit process of e-commerce companies, along with the moderating role of audit technology on these associations. Data was collected through a questionnaire filled by 106 auditors who are members of the Lebanese Association of Certified Public Accountants. Results showed that audit planning and audit documentation have a positive significant impact on the effectiveness of the audit process, while audit strategy has no impact. The outcome also confirmed the association between audit technology tools and the effectiveness of the audit process. Moreover, the results showed that there is a moderating effect of audit technology tools on the association between audit strategy and the effectiveness of the audit process, but in contrast, there is no significant moderating effect of audit technology tools on the relationships between audit planning, audit documentation, and the effectiveness of the audit process. [ABSTRACT FROM AUTHOR]

Abstract Background Audit of facility-based care provided to small and sick newborns is a quality improvement initiative that helps to identify the modifiable gaps in newborn care (BMC Pregnancy Childbirth 14: 280, 2014). The aim of this work was to identify literature on modifiable factors in the care of newborns in the newborn units in health facilities in low-middle-income countries (LMICs). We also set out to design a measure of the quality of the perinatal and newborn audit process. Methods The scoping review was conducted using the methodology outlined by Arksey and O’Malley and refined by Levac et al, (Implement Sci 5:1-9, 2010). We reported our results using the PRISMA Extension for Scoping Reviews (PRISMA-ScR) guidelines. We identified seven factors to ensure a successful audit process based on World Health Organisation (WHO) recommendations which we subsequently used to develop a quality of audit process score. Data sources We conducted a structured search using PubMed, CINAHL, EMBASE, LILACS, POPLINE and African Index Medicus. Study selection Studies published in English between 1965 and December 2019 focusing on the identification of modifiable factors through clinical or mortality audits in newborn care in health facilities from LMICs. Data extraction We extracted data on the study characteristics, modifiable factors and quality of audit process indicators. Results A total of six articles met the inclusion criteria. Of these, four were mortality audit studies and two were clinical audit studies that we used to assess the quality of the audit process. None of the studies were well conducted, two were moderately well conducted, and four were poorly conducted. The modifiable factors were divided into three time periods along the continuum of newborn care. The period of newborn unit care had the highest number of modifiable factors, and in each period, the health worker related modifiable factors were the most dominant. Conclusion Based on the significant number of modifiable factors in the newborn unit, a neonatal audit tool is essential to act as a structured guide for auditing newborn unit care in LMICs. The quality of audit process guide is a useful method of ensuring high quality audits in health facilities.

Technological developments play an important role in the audit process, one of which is the use of data analytics that are useful to assist auditors in analyzing data, collecting audit evidence, predicting risks that occur and will occur, and other things. The use of data analytics is also applied by public sector auditors to maintain accountability and responsibility for state finances. This study aims to examine the effect of using data analytics on indications of fraud for public sector examiners in Indonesia. Testing and data analysis techniques used STATA version 14 which processed answers from 33 auditors from two representative offices of public sector auditors in Java Province and Sumatra Province. The results of the study state that the use of data analytics has a positive and significant effect on indications of fraud for public sector examiners in the examination process. This means that public sector auditors can detect fraud using data analytics. [ABSTRACT FROM AUTHOR]

While the shareholder benefits of audits are well documented, evidence on whether audits can facilitate opportunistic behavior by corporate insiders is scarce. In this paper, we examine whether the audit process facilitates one particular form of opportunism: informed trading by corporate insiders. We focus our analysis on insider trading around the audit report date. We find an increase in trading around the audit report date and that the increase is abnormally large for firms that subsequently report modified opinions. The abnormal increase in trading is concentrated among officers and non-audit committee independent directors, and most pronounced in first-time modified opinions and modified opinions in years where financial results are subsequently restated. These trades are highly opportunistic: they predict restatements, and as a consequence, we show they avoid significant losses. Collectively, our findings provide novel evidence that insiders appear to exploit private information about the audit process––a process ostensibly designed to protect shareholders––for opportunistic gain. [ABSTRACT FROM AUTHOR]

SUMMARY: This article summarizes Knechel, Thomas, and Driskill (2020), conceptualizing financial auditing as an economic service. In contrast to the production of tangible goods, a central characteristic of economic services is substantial customer/client participation in the production process. Financial auditing is an intensive collaborative network service due to the multiple parties involved in the production and consumption of the resulting output. This introduces significant heterogeneity and complexity into the planning and conduct of the audit, the resulting audit output, and perceptions of audit quality. While the independence of the auditor is necessary, ignoring the essential nature of auditor-client cooperation may generate unexpected costs which impair audit quality. The multitude of parties involved in an audit creates tension between audit quality and audit efficiency and makes objective definitions of audit quality difficult. Excessive standardization of the audit process may not increase audit quality. JEL Classifications: G18; G28; G34; G38. [ABSTRACT FROM AUTHOR]

Public sector accounting reforms have resulted in crucial changes in accounting reporting by the government, namely the adoption of accrual accounting in the public sector. This study looks into the social factors that led to the Indonesian central government implementing accrual accounting reform. This study adopted a quantitative approach using purposive sampling. Structural Equation Modeling (SEM) with PLS version 3.0 was used to analyze the data. The information for this study was gathered using a Google Form, which was used to send 70 questionnaires to government finance officials, chief accountants and auditors, and heads of accounting and auditing divisions in the Ministry of Finance. Seeing these social factors is expected to increase the effectiveness of the administration of accrual accounting implementation. The results showed that pressure from donors, pressure from the National Board of Accountants and Auditors (NBAA), political will, and audit process had an impact on the effectiveness of accrual accounting application (AAA). However, management change, regulatory matters, and a culture of transparency have no effect. In addition, the effective administration of AAA affects managerial accountability. This study implies that the effective application of accrual accounting depends on human-related concerns and culture. It is important to note that accrual accounting is more of a management reform that entails changes to bigger areas of institutional and accountability systems than merely adopting a new accounting technology.

In the last period, the importance of performance auditing missions in the public sector increased. This article presents an analysis of the current situation of performance audit in Romania and identifies the differences and similarities between this type of auditing and the other types of auditing missions made by supreme auditing institutions: financial audit and regularity audit. Based on both qualitative and quantitative analyzes, we can conclude that the performance audit is becoming an essential tool for improving the management of organizations in the public sector. [ABSTRACT FROM AUTHOR]

Introduction: Blood transfusion services is the important part of the modern healthcare system without which efficient medical care is not possible. Blood bank quality audits become an important assessment tool to check the efficiency of the quality system in terms of realization of quality policy, fulfilment of designed targets and implementation of quality system documents. Aims: To study the utility of vertical quality audits as a quality improvement tool, to compare vertical and horizontal audits and explore the differences between them. Methods and Materials: The study duration was three years and two months, from November 2018 to December 2021. We conducted an observational prospective study of vertical and horizontal quality audits in a transfusion centre of our tertiary care hospital as per ISO 9001:2000 and National Accreditation Board for Hospitals & Healthcare Providers (NABH) guideline. Results: The most common non-conformities in vertical audit were related to documentation (80%). The donor area was the most common area of blood bank from where non-conformities were observed in vertical audit (60%). The most commonly observed non-conformities in horizontal audit were related to procedural or technical aspects (42.8%). The donor area was the most common area of blood bank from where non-conformities were observed in horizontal audit (57.14%). Conclusions: Quality audits verify compliance and therefore, they are driving continuous quality improvement in a blood bank. Vertical audit is a retrospective process and helps to identify near miss events and errors performed by blood bank staff. Horizontal audits are cumbersome to conduct as compared to vertical audits. [ABSTRACT FROM AUTHOR]

Background: Audit of facility-based care provided to small and sick newborns is a quality improvement initiative that helps to identify the modifiable gaps in newborn care (BMC Pregnancy Childbirth 14: 280, 2014). The aim of this work was to identify literature on modifiable factors in the care of newborns in the newborn units in health facilities in low-middle-income countries (LMICs). We also set out to design a measure of the quality of the perinatal and newborn audit process.Methods: The scoping review was conducted using the methodology outlined by Arksey and O'Malley and refined by Levac et al, (Implement Sci 5:1-9, 2010). We reported our results using the PRISMA Extension for Scoping Reviews (PRISMA-ScR) guidelines. We identified seven factors to ensure a successful audit process based on World Health Organisation (WHO) recommendations which we subsequently used to develop a quality of audit process score.Data Sources: We conducted a structured search using PubMed, CINAHL, EMBASE, LILACS, POPLINE and African Index Medicus.Study Selection: Studies published in English between 1965 and December 2019 focusing on the identification of modifiable factors through clinical or mortality audits in newborn care in health facilities from LMICs.Data Extraction: We extracted data on the study characteristics, modifiable factors and quality of audit process indicators.Results: A total of six articles met the inclusion criteria. Of these, four were mortality audit studies and two were clinical audit studies that we used to assess the quality of the audit process. None of the studies were well conducted, two were moderately well conducted, and four were poorly conducted. The modifiable factors were divided into three time periods along the continuum of newborn care. The period of newborn unit care had the highest number of modifiable factors, and in each period, the health worker related modifiable factors were the most dominant.Conclusion: Based on the significant number of modifiable factors in the newborn unit, a neonatal audit tool is essential to act as a structured guide for auditing newborn unit care in LMICs. The quality of audit process guide is a useful method of ensuring high quality audits in health facilities. [ABSTRACT FROM AUTHOR]

The study examines the Interactive Effect of Audit Firm and Audit Committee Mediated by Audit Process on Fraudulent Financial Reporting Risks of Listed Firms in Nigeria. The population of staff working in audit firms in Nigeria is unknown. Therefore, sample size of unknown population for this survey study is calculated using g*power which minimum sample size is 384 respondents. A model of questionnaire is adopted from research conducted and 500 copies of adopted questionnaire which contains 31 items were administered to audit staff and 391 copies were returned. The questionnaire was the main instrument for data collection and adopted a nine-point scale. The study is multivariate in nature so structural equation modelling is employed and smartpls 3 is used for the analysis. However, the result shows that Audit Firm and Audit committee have significant positive effect on Fraudulent Financial Reporting of Listed Firms in Nigeria. In addition, Audit Firm has significant positive effect on audit process of Listed Firms in Nigeria Similarly, Audit process has significant mediating effect on the relationship between Audit committee and Fraudulent Financial Reporting of Listed Firms in Nigeria.And Audit committee has significant positive moderating effect on the relationship between audit firm and fraudulent financial reporting risks of Listed Firms in Nigeria.However, Audit committee has significant negative effect on audit process of Listed Firms in Nigeria. In addition,Audit process has significant negative mediating effect on the relationship between Audit Firm and Fraudulent Financial Reporting of Listed Firms in Nigeria. Similarly, Audit committee has significant negative moderating effect on the relationship between audit firm and audit process of Listed Firms in Nigeria. Base on the conclusion, the study recommends that both the audit committee and external auditors should focus their attention on improving the audit process which in turn will significantly curb the fraudulent financial reporting risks of listed Firms in Nigeria.

This study examines the future impact of digitalization on auditing by synthesizing empirical studies, relating them to surveys conducted by accounting bodies, and analyzing these findings in relation to extant literature. Based on the synthesis, this study proposes a transitional framework to enable the audit profession to remain competitive. The results show that digitalization may significantly affect the audit profession in the future. However, the impact is likely to be incremental rather than radical. To remain competitive, the audit profession needs to adopt new metrics, capabilities, skills, and evolve its business models to incorporate digital technologies. The contribution of this study is multifaceted. The propositions and research agenda presented in this study will be beneficial to academics, practitioners, audit regulators, and the general public as they have the potential to form a foundation for addressing future research questions and for the theorization and empirical testing of audit digitalization. [ABSTRACT FROM AUTHOR]

The exercise of the external public audit presupposes the existence and application of a methodology specific to this activity. The external public auditors cannot use methods and techniques of exercising their activity that differ from one to another or from one professional organization to another. This would complicate the process of communication, collection and transmission, as well as the use of the information obtained in the audit process. Knowing the complexity of the external public audit, we emphasized in this material that the need to strengthen control in the field of public procurement was imposed with the amendment of the legislation in the field of public procurement, in May 2016. In this sense, the paper captures both the general technique of exercising the external public audit in Romanian practice, and novelty aspects regarding the exercise of the external public audit applied in the field of public procurement. [ABSTRACT FROM AUTHOR]

There has been growing recognition in recent years of the importance of corporate governance in ensuring sound financial reporting and deterring fraud. The audit serves as a monitoring device and is thus part of the corporate governance mosaic. The objective of this paper is to examine the impact of various corporate governance factors, such as the board of directors and the audit committee, on the audit process. importantly, there is little professional guidance on how auditors should consider such factors when formulating an appropriate audit strategy, and there has been only one prior study on this issue (Cohen and Hanno 2000). Because there are no current specific auditing standards that relate to the effect of corporate governance in the audit process, we conducted a semi-structured interview with 36 auditors, on current audit practices in considering corporate governance, in the audit process. Reflecting on client experiences, auditors indicate a range of views with regard to the elements included in, the rubric of "corporate governance". Most significantly, auditors' view management as the primary driver of corporate governance. The inclusion of top management in the "corporate governance mosaic" is inconsistent with agency theory's prescription of the board and other mechanisms sewing as a means to independently oversee management's actions to protect stakeholders. Auditors consider corporate governance factors to be especially important in the client acceptance phase and in an international context Further, despite the attention placed on the audit committee in the academic literature, in the business community, and by regulators in different countries (e.g., Canada, United States, Australia), several respondents indicated that their experiences with their clients suggest that audit committees are typically ineffective arid lack sufficient power to be a strong governance mechanism. Implications for research and practice are presented. [ABSTRACT FROM AUTHOR]

This paper attempts to highlight the usage of information technology for auditors at different levels and positions in audit firms in Malaysia. Factors influencing the usage of information technology in the audit processes are also investigated. Questionnaires were distributed to external auditors in Klang Valley. Descriptive statistics and regression analysis were carried out to analyze the data. Telephone interviews were also conducted to support the results. The result indicates that information technology is widely used in the audit processes. Information technology is especially used to generate the audit working papers and audited financial statements and to select samples during audit processes. The results indicate that information technology is mainly used by the senior auditors and audit managers in their organizations. The results appear to suggest that the auditors are motivated to use information technology because it helps to shorten the time of the audit process and get their job done in a more efficient manner.

Abstract Background Surgical mortality audit is an important tool for quality assurance and professional development but little is known about the impact of such activity on professional practice at the individual surgeon level. This paper reports the findings of a survey conducted with a self-selected cohort of surgeons in Queensland, Australia, on their experience of participating in the audit and its impact on their professional practice, as well as implications for hospital systems. Methods The study used a descriptive cross-sectional survey design. All surgeons registered in Queensland in 2015 (n = 919) were invited to complete an anonymous online questionnaire between September and October 2015. 184 surgeons completed and returned the questionnaire at a response rate of 20%. Results Thirty-nine percent of the participants reported that involvement in the audit process affected their clinical practice. This was particularly the case for surgeons whose participation included being an assessor. Thirteen percent of the participants had perceived improvement to hospital practices or advancement in patient care and safety as a result of audit recommendations. Analysis of the open-ended responses suggested the audit experience had led surgeons to become more cautious, reflective in action and with increased confidence in best practice, and recognise the importance of effective communication and clear documentation. Conclusions This is the first study to examine the impact of participation in a mortality audit process on the professional practice of surgeons. The findings offer evidence for surgical mortality audit as an effective strategy for continuous professional development and for improving patient safety initiatives.