Abstract
Having in mind the signals from the financial auditing services market, at both national and international level, the author intended to find out which are the applications used by auditing firms in Romania and the strengths of these tools for each stage of the audit engagement, a key analysis in the context of adopting software solutions in the audit engagements. The research was conducted through a questionnaire addressed in 2015 to the financial auditors in Romania and sought their response about the benefits of using a software tool in each stage of the audit engagement. The result of the research revealed the tendency for users to use software tools also in the special audit assignments.
Highlights
The study aimed to analyze how the community of auditors in Romania absorbed and used highly developed computer applications which can be used for financial audit.The approach is part of a series of research aiming the understanding of issues faced by experts in the field in this process precisely to receive scientific support from academia
On the background of phenomena with strong economic and social implications like digitization and economic crisis, we analyze the role of using software tools to increase efficiency of the audit assignments
Previous studies showed that using CAAT’s in an audit office can reduce the time and financial resources involved in the audit assignment (Fargason, 2001), and the risks and help to attain a higher degree of providing the result. (Alali & Pan, 2011)
Summary
The approach is part of a series of research aiming the understanding of issues faced by experts in the field in this process precisely to receive scientific support from academia. This kind of support can start with adapting the curriculum from specialized universities and continue with courses and continuous training for accountants and auditors (Stanciu V, 2015). The analyses was conducted with the support of Bucharest University of Economic Studies, The Faculty of Accounting and Management Information Systems and The Chamber of Financial Auditors of Romania, the latter publishing on its website the questionnaire on the use of audit software in Romania for completion Our analysis took into account the budget factor i.e. it’s influence for the use of CAAT’s in any of the stages of the audit since previous studies showed the importance of this factor – namely in the choices of Big Four users in other countries (Curtis & Payne, 2014), alongside inclination towards risk and the intention to use CAAT’s (Curtis and Payne, 2008).
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