Audit Of Practice Research Articles

ENHANCING INTERNAL AUDIT QUALITY IN JORDANIAN INSURANCE COMPANIES A COSO FRAMEWORK PERSPECTIVE

This study assesses the efficacy of the COSO framework in improving internal audit quality in Jordanian insurance firms across five dimensions: control environment, risk assessment, control activities, information and communication, and monitoring. Using a 36-item questionnaire distributed among 24 randomly selected companies, the research employs both descriptive and analytical methods, including multiple and simple linear regression through SPSS, on 193 valid responses. Results reveal a statistically significant (± ≥ 0.05) positive impact of the COSO framework on internal audit quality. The findings suggest a high adherence to COSO dimensions among Jordanian insurance companies, indicating a robust foundation for effective internal auditing practices within the industry.

Strategic Integration for Academic Excellence: Leveraging COBIT and PMBOK in Audit and Project Management Practices

Penelitian ini mengeksplorasi integrasi strategis kerangka COBIT (Control Objectives for Information and Associated Technologies) dan PMBOK (Project Management Body of Knowledge) untuk mengoptimalkan praktik audit dan manajemen proyek di dunia akademis. Dengan menyelaraskan tujuan tata kelola dengan prinsip-prinsip manajemen proyek, universitas dapat meningkatkan upaya mereka mencapai keunggulan akademik. Integrasi COBIT dan PMBOK memperkuat praktik audit dengan memastikan kepatuhan terhadap peraturan, penilaian risiko praktis, dan kontrol yang kuat. Hal ini juga mempromosikan pendekatan terstruktur terhadap manajemen proyek, peningkatan perencanaan, alokasi sumber daya, mitigasi risiko, dan komunikasi. Kolaborasi antara tim audit dan manajemen proyek difasilitasi melalui integrasi ini, memungkinkan komunikasi, koordinasi, dan berbagi pengetahuan yang efektif. Kolaborasi ini menghasilkan peningkatan pengambilan keputusan, pemanfaatan sumber daya, dan hasil proyek. Universitas kemudian dapat memposisikan diri mereka secara strategis untuk mencapai keunggulan akademis, menyelaraskan operasi mereka dengan tujuan strategis dan mendorong efisiensi, transparansi, dan akuntabilitas. Penelitian ini mengacu pada studi kasus, praktik terbaik, dan literatur yang ada untuk menyoroti manfaat dan strategi implementasi integrasi strategis COBIT dan PMBOK di dunia akademis. Dengan mengintegrasikan kerangka kerja ini, universitas dapat memajukan upaya mereka mencapai keunggulan akademik dan memperkuat kepemimpinan mereka dalam bidang pendidikan.

Hand and Wrist trauma: Antimicrobials and Infection Audit of Clinical Practice (HAWAII ACP) protocol.

Hand trauma, consisting of injuries to both the hand and the wrist, are a common injury seen worldwide. The global age-standardized incidence of hand trauma exceeds 179 per 100,000. Hand trauma may require surgical management and therefore result in significant costs to both healthcare systems and society. Surgical site infections (SSIs) are common following all surgical interventions, and within hand surgery the risk of SSI is at least 5%. SSI following hand trauma surgery results in significant costs to healthcare systems with estimations of over £450 per patient. The World Health Organization (WHO) have produced international guidelines to help prevent SSIs. However, it is unclear what variability exists in the adherence to these guidelines within hand trauma. The aim is to assess compliance to the WHO global guidelines in prevention of SSI in hand trauma. This will be an international, multicentre audit comparing antimicrobial practices in hand trauma to the standards outlined by WHO. Through the Reconstructive Surgery Trials Network (RSTN), hand surgeons across the globe will be invited to participate in the study. Consultant surgeons/associate specialists managing hand trauma and members of the multidisciplinary team will be identified at participating sites. Teams will be asked to collect data prospectively on a minimum of 20 consecutive patients. The audit will run for eight months. Data collected will include injury details, initial management, hand trauma team management, operation details, postoperative care, and antimicrobial techniques used throughout. Adherence to WHO global guidelines for SSI will be summarized using descriptive statistics across each criteria. The Hand and Wrist trauma: Antimicrobials and Infection Audit of Clinical Practice (HAWAII ACP) will provide an understanding of the current antimicrobial practice in hand trauma surgery. This will then provide a basis to guide further research in the field. The findings of this study will be disseminated via conference presentations and a peer-reviewed publication.

A systematic literature review on the bright and dark sides of auditors’ personality

This article synthesizes research on auditors’ ‘bright’ and ‘dark’ personality traits. Our systematic literature review identified 34 studies that met our inclusion criteria. These studies provide insights into auditors’ personality traits, their impact on audit quality, and their association with various professional behaviors and outcomes. Our review emphasizes the importance of understanding personality traits and considering them in the recruitment phase and throughout an auditor’s career. Recognizing the variation in auditors’ personalities and understanding their interplay within audit practices are relevant for improving and refining the profession.

Implementation of an audit and feedback module targeting low-value clinical practices in a provincial trauma quality assurance program: a cost-effectiveness study

BackgroundAudit and Feedback (A&F) interventions based on quality indicators have been shown to lead to significant improvements in compliance with evidence-based care including de-adoption of low-value practices (LVPs). Our primary aim was to evaluate the cost-effectiveness of adding a hypothetical A&F module targeting LVPs for trauma admissions to an existing quality assurance intervention targeting high-value care and risk-adjusted outcomes. A secondary aim was to assess how certain A&F characteristics might influence its cost-effectiveness.MethodsWe conducted a cost-effectiveness analysis using a probabilistic static decision analytic model in the Québec trauma care continuum. We considered the Québec Ministry of Health perspective. Our economic evaluation compared a hypothetical scenario in which the A&F module targeting LVPs is implemented in a Canadian provincial trauma quality assurance program to a status quo scenario in which the A&F module is not implemented. In scenarios analyses we assessed the impact of A&F characteristics on its cost-effectiveness. Results are presented in terms of incremental costs per LVP avoided.ResultsResults suggest that the implementation of A&F module (Cost = $1,480,850; Number of LVPs = 6,005) is associated with higher costs and higher effectiveness compared to status quo (Cost = $1,124,661; Number of LVPs = 8,228). The A&F module would cost $160 per LVP avoided compared to status quo. The A&F module becomes more cost-effective with the addition of facilitation visits; more frequent evaluation; and when only high-volume trauma centers are considered.ConclusionA&F module targeting LVPs is associated with higher costs and higher effectiveness than status quo and has the potential to be cost-effective if the decision-makers’ willingness-to-pay is at least $160 per LVP avoided. This likely represents an underestimate of true ICER due to underestimated costs or missed opportunity costs. Results suggest that virtual facilitation visits, frequent evaluation, and implementing the module in high-volume centers can improve cost-effectiveness.

Assessing the Impact of Blockchain Technology on Financial Reporting and Audit Practices

The significant influence of blockchain technology on contemporary financial reporting and auditing procedures is examined in this paper. The rapid spread of blockchain technology brought about a new era in financial data management, which can completely transform the accounting ecosystem's efficiency, security, and transparency. This study explores the various ramifications of blockchain adoption in accounting, concentrating on how it affects regulatory compliance, audit trail integrity, cost-effectiveness, smart contracts, and financial reporting accuracy. This study aims to clarify blockchain technology's advantages and challenges to accounting professionals, regulators, and auditors by analyzing its disruptive potential. With the help of growing regulatory frameworks and real-world use examples, it offers a thorough grasp of how financial reporting and auditing processes are changing in the blockchain era. The study also emphasizes the significance of understanding how blockchain technology changes traditional accounting practices as more companies incorporate it into their financial operations. It draws attention to the benefits of blockchain technology. Also, it emphasizes the need for flexibility and compliance with legal requirements to fully realize its potential in the fields of audit assurance and financial reporting. This investigation allowed us to provide accounting managers, professionals, policymakers, and other stakeholders with priceless knowledge of the potential for blockchain technology to revolutionize the accounting industry.

Satisfaction with human resource practices, job dedication and job performance: the role of incentive gamification

PurposeWhile the potential of human resource practices (HRPs) for promoting performance is widely recognized, even though crucial, employees’ assessment of HRPs remains under-researched, especially in emerging economies. Hence, the purpose of this research is to examine the influence of employee satisfaction with HRPs on job performance through the mediating role of job dedication (JD) and the moderating role of incentive gamification.Design/methodology/approachThe current research adopts a quantitative method. Specifically, using a questionnaire survey, 418 valid responses collected (through purposive sampling) via cross-sectional method from the employees of Nigerian Information and Communication Technology (ICT) firms were used to test the research hypotheses empirically.FindingsThe results revealed that satisfaction with HRPs has a positive influence on job performance. Satisfaction with human resource practices has a positive influence on job dedication. Job dedication has a positive influence on job performance. The link between employees’ satisfaction with human resource practices and job performance is mediated by job dedication. The link between satisfaction with human resource practices and job dedication is moderated by incentive gamification, that is, the positive link is stronger when incentive gamification is high. The link between satisfaction with human resource practices and job performance is moderated by incentive gamification, that is, the positive link is stronger when incentive gamification is high.Originality/valueThe current study highlights the importance of employees’ assessments of human resource practices, which may be used to promote employee dedication, which in turn results in improved performance. The findings are helpful to open the black box of the impact of satisfaction with HRPs on job performance. The results also offer important new valuable guidance for practitioners and will aid the management of human resource practice design, audits, and communication.

Environmental Audit and CSR Practices on the Financial Performance of Small and Medium Manufacturing Companies in Indonesia

Environmental Audit and CSR Practices on the Financial Performance of Small and Medium Manufacturing Companies in Indonesia

Towards Greener Hand Surgery - An Audit Of Current Practices In A Tertiary Hospital

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Audit credibility and LGBTQI rights: certification operation in the margins

PurposeThe aim of this paper is to contribute to knowledge about the diversity of credibility arrangements in new audit spaces “in the margins” of auditing and the implications of such arrangements.Design/methodology/approachThe paper is based on an in-depth qualitative study of the lesbian, gay, bisexual, transgender, queer and intersex (LGBTQI) rights certification run by the Swedish Federation for Lesbian, Gay, Bisexual, Transgender, Queer and Intersex Rights (RFSL) during its first decade of operation. We have interviewed employees and studied documents at the certification units within the RFSL. We have also interviewed certified organizations.FindingsWe highlight two features that explain the unusual credibility arrangements in this audit practice: the role of beneficiaries in the organizational arrangements chosen and the role of responsibility as an organizing value with consequences for responsibility allocation in this certification. These features make it possible for the RFSL to act as a credible auditor even though it deviates from common arrangements for credible audits.Originality/valueThe RFSL certification is different in several ways. First, the RFSL acts as both a trainer and an auditor. Second, the trainers/auditors at the RFSL have no accreditation to guarantee their credibility. Third, the RFSL decides for itself what standards should apply for the certification and adapts these standards to the operation being audited. Therefore, this case provides a good opportunity to study alternative credibility arrangements in the margins of auditing as well as their justifications.

Digital transformation in Vietnam: the impacts on external auditors and their practices

Purpose This study aims to explore some perceptions related to the suggestion that external auditors will be replaced by audit technologies that use artificial intelligence (AI) tools to make audit judgements when performing the financial statement audits. Digital transformation is revitalising the technologies used by external auditors and their firms; thus, the authors seek to understand what challenges this creates for the auditing profession in Vietnam. Design/methodology/approach Through the theoretical lens of new institutionalism theory, this study uses a qualitative approach involving 20 semi-structured interviews conducted with external auditors in Vietnam during 2022. This sample includes the global Big Four, global mid-tier and smaller local Vietnamese audit firms. Findings The findings indicate that there is resistance or disagreement with the suggestion that in the future audit technologies using AI tools can replace humans (external auditors). The role of external auditors in the professional services sector will gradually be changed by audit technologies; however, external auditors are unlikely to be replaced by audit technologies that use AI tools based on the responses of the participants. Strict institutional rules that exist in Vietnam would prevent the replacement of (human) external auditors. In the future, external auditors may take on new roles as consultants, with unique skills in classifying and processing data for decision-making processes; however, they will not be completely replaced by technology in the audit space. Research limitations/implications This study has limitations that it is based on the data collection from a single developing country, Vietnam; therefore, the generalisability of the findings is limited to Vietnam. Also, the authors sought insights into the future of external audits in Vietnam. Practical implications This study highlights the changing role of auditors and institutions. Thus, policymakers, external auditors and auditees in other developing countries would find the findings helpful. Originality/value This study provides new perspectives, particularly from local Vietnamese firms, about audit practices that emerge due to high-level technological advancements and then embed themselves into existing audit practices in an emerging economy. Prior studies tended to focus on the global Big Four firms, thus this study contributes by sharing the perceptions of the smaller practitioners also.

Connaissances et pratiques des étapes préalables à la stérilisation des dispositifs médicaux thermorésistants : étude au centre hospitalo-universitaire Sahloul, Sousse-Tunisie – 2022

The standard process of central sterilization is crucial for the optimal functioning of the operating room. The outcome of this process is closely linked to the steps preceding the steps prior to the sterilization step itself. These steps include pre-disinfection carried out in the operating rooms and other stages, namely washing, drying and packaging, which must be performed in the central sterilization unit. In this context, this study aimed to describe the knowledge of the staff in the operating rooms and the central sterilization unit at Sahloul University Hospital in Sousse (Tunisia) in 2022, regarding the steps prior to the sterilization of reusable thermoresistant medical devices and to describe their practices in terms of compliance with these steps. A descriptive study was conducted from January 2022to June 2022with the aforementioned staff, using a self-administered questionnaire to assess their knowledge of the pre-sterilization steps and a direct observation audit of their practices with regard to these steps. Both measurement instruments were pre-tested. Out of 102self-administered questionnaires (knowledge assessment) distributed to the staff concerned, only 80were returned and correctly filled out, giving a response rate of 78.4%. Participants' responses regarding the order of steps prior to the sterilization were incorrect in 64% of cases. With regard to the evaluation of professional practices, 224observations were made in the study area (practice audit). In 82% of these observations, the pre-disinfection step was confused with the washing step. The use of Betadine brushes and scrubbing pads for device washing was noted in 89.3%, along with the absence of swabbing of the canals and hollow parts in 9.4% of cases and the absence of drying of the canals with compressed air. Mastery of the steps prior to sterilisation of reusable thermoresistant medical devices was insufficient in our institution, suggesting the importance of reinforcing the implementation of the procedure through a continuous training program followed by action plans.

Audit Internal terhadap Kecurangan dan Penyimpangan Keuangan Pemerintah Daerah

This study examines the role of Internal Audit in strengthening local government financial resilience by integrating the concept of financial resilience from various sources. The research found that Internal Audit can contribute to responding to and overcoming financial stresses by improving the effectiveness of internal control, compliance, operational efficiency, and risk management. Internal Audit not only responds to financial pressures, but is also proactive in fraud prevention and financial risk management. The research method used a qualitative case study approach, the research involved 15 internal audit practitioners from various government institutions. The holistic involves in-depth interviews, document analysis, and direct observation to dive into the internal audit practices conducted by respondents. The results show that effective internal audit practices not only have an impact on fraud detection and prevention, but also play a crucial role in improving the integrity of financial reporting and accountability of local governments. However, some obstacles, such as budget, personnel, and technology constraints, may affect internal audit performance. Improvement recommendations include greater investment in technology training, better budget allocation, and increased number of personnel in internal audit.

AI and Auditing: Enhancing Audit Efficiency and Effectiveness with Artificial Intelligence

The use of automation and artificial intelligence (AI) in audit practice is increasingly becoming a major focus, with significant impact on the profession. This research depicts the current landscape of the use of AI in auditing, highlighting aspects such as automation and empowerment of the workforce in auditing, impact of AI on improving audit quality criteria, key factors in adopting AI-based audit techniques, impact of AI technology on audit evidence , and auditors' perceptions of AI in improving audit quality. The results and discussion show that while there are great benefits from integrating automation and AI in auditing, including improved audit quality, enhanced efficiency, and the ability to perform continuous audits, there are also challenges that need to be overcome, such as high customization costs for specific audit processes industry. The use of AI in auditing requires adaptation from auditors to changes in competencies and workflows to effectively utilize this technology. However, with proper understanding and careful handling of these challenges, AI has great potential to improve overall audit practices.

The audit revolution: Integrating artificial intelligence in detecting accounting fraud

This study aims to analyze the application of Artificial Intelligence (AI) in detecting accounting fraud in audits. The aim is to identify AI's efficiency, accuracy, and potential in detecting fraud and to explore the challenges and implications arising from using this technology in audit practice. This research is a type of qualitative research with a case study approach as the main focus and a literature study as a data triangulation approach. This research methodology will provide an in-depth understanding of the integration of artificial intelligence in detecting accounting fraud. The results show that AI improves efficiency and accuracy in detecting accounting fraud. AI techniques such as machine learning and natural language processing effectively identify fraud patterns. However, there are challenges, such as limitations of AI technology, ethical and data privacy issues, and barriers to accepting AI in the accounting industry. This research contributes to the accounting literature by highlighting how AI can change audit practices. It also offers guidance for accounting firms on utilizing AI to improve auditing and suggests directions for future research related to the development and integration of AI in accounting.

COVID-19 AND THE QUALITY OF AUDIT EVIDENCE: ASSESSING THE IMPACT ON AUDITING PRACTICES IN INDIA

COVID-19 pandemic was truly the striking booster for the surgical empowerment of Digital era and marketing. It revolutionized and transformed the B2B to B2C era. Although the awareness of Digital Marketing was buzzing in air before COVID-19, the visibility was certainly low. Few Top-rated brand corporates were progressively alert about its gravity-based largescale markets, big-size revenue, ensured that digital marketing would create a consumer-driven importance in a way ahead of bridging effective communication between consumers and businesses. Remote-and Hybrid working was the ultimatum in bringing more Online Business to the Marketing Managers onboard. The global consumers were highly influenced by trending digital campaigns and contents popped out on popular social digital platforms. Due to insufficient budget, startups were the first-time game changing players in markets who incessantly fought against all odds facing while developing the software on-demand. Extreme programming and Kanban made things possible and finally experts built viable interface for supporting efficient online infra through consumer-friendly apps and websites. The business corpus was entirely into online campaigns and held onto “Everything’s just ONLINE.” The data shows that out of many challenges, during the phase of COVID-19, 59% of some listed companies fueled their efforts on solving problems in areas of digital marketing and 66% of them finished of the task waiting for an ONLINE world that never was before. POST-COVID was full of new wave excitement, unlimited opportunities piled up for skilled digital marketers and service providers. The hiring process of these skilled content creators, digital marketing managers and online advertisers was just a culture shock in the new age digital era, however, “everything’s just Online” is the outstanding local to global trend in continuing.

BOARD CHARACTERISTICS AND AUDIT QUALITY: EVIDENCE FROM VIETNAM

This study investigates the relationship between key director characteristics, board composition, and audit quality in the context of Vietnamese listed firms on the Ho Chi Minh City Stock Exchange over the period 2015 to 2020. Based on the study of Mustafa et al (2017), we employ a comprehensive dataset comprising 415 firms, we utilize a random effects estimation model to analyze the nuances of these associations. Our findings reveal a noteworthy positive relationship between directors aged 36-55 and 46-55 years old and audit quality, suggesting that the experience and expertise of directors within these age brackets contribute positively to the enhancement of audit processes. Furthermore, our study identifies a significant positive impact on audit quality associated with interlocking directorships, emphasizing the importance of interconnected networks within corporate governance structures. In addition, our results highlight the influential role of boards populated by members holding Master's degrees, indicating a positive correlation between educational qualifications and clients' demand for high audit quality. This insight underscores the significance of academic prowess and specialized knowledge in fostering a climate conducive to rigorous audit practices.

The Effect of Mandatory Adoption Pressures of International Financial Reporting Standards (IFRS/IAS) on Irregular Auditing Practices

The Effect of Mandatory Adoption Pressures of International Financial Reporting Standards (IFRS/IAS) on Irregular Auditing Practices

Carbon-neutral Existing Buildings Strategies

Background: The world screams for carbon-neutral pledge every day. Existing buildings (EBs) are a good starting edge. EBs account for more than one-third of greenhouse gas (GHG) emissions and use of more than half of the world’s energy as reported in the 2020 Global Status Report for Buildings and Construction. Without evolving effective strategies to transform the EBs into carbon-neutral structures, there is no chance of confronting this huge adverse impact on the climate. A carbon neutral building does not waste energy, uses less water, and produces as much energy as it consumes or uses renewables as their energy resource. Objective: This study aims to build up a new, easy, and practical carbon-neutral audit (CNA) rating tool to put forward carbon-neutral existing buildings (CNEB) strategies to reduce the GHG effect. Methods: This study responds to this pledge call to lay down the strategies to retrofit existing structures into carbon-neutral buildings. Carbon-neutral potentials of an existing building are the guidance for the setup of CNEB strategies. Assessing the carbon-neutral potentials in an EB is rarely touched in the past literature. With the help of a CNA scheme, an easy scanning rating tool, a list of carbon-neutral potentials can be built up for the instigation of the CNEB strategies. Results: The findings established that using the above CNEB strategies, a total of energy savings in a range of 45-65% can be achieved. Conclusion: This high energy savings will attribute a carbon intensity reduction in the range of 25-35%, thus triggering a gateway to decarbonisation of the EBs.

The Role of Internal Auditors Characteristics in Cybersecurity Risk Assessment in Financial-Based Business Organisations: a Conceptual Review

Purpose: This paper aims to establish a theoretical framework that will enhance the examination of the role of internal auditors in cybersecurity risk assessment in financial-based business organizations. Financial-based business organizations are institutions or companies that render financial services to public and private stakeholders in an economy. It is a powerful sector in the economy of every country. This drive poses a lot of challenges to organizations. Hence, business organizations strategically devised a means to safeguard the integrity, confidentiality, and availability of information. Also, innovation poses many risks and threats to the internal audit function in an organization. Theoretical Framework/Findings: Using the competency and planned behaviour theories (McClelland 1973 and Ajzen,1991), this study disclosed that the task performance of cybersecurity risk assessment by the internal auditor is influenced by the required internal auditor’s characteristics of professional ethics of integrity and objectivity, personality traits, professional skills competency professional knowledge competency and deterrence and rewards to advise the management on the implications of cyber security risk on business organisations for monitoring and mitigations. Methodology: A literature review approach is adopted to highlight the role of internal auditors in cyber security risk assessment in financial–based business organizations. Research Limitation/Implication: This conceptual paper has consequences for the practice of internal auditing. This approach is helpful to academic scholars in testing it out in the real world. This model is helpful to practitioners when evaluating the function of IAs in the cybersecurity risk assessment context. Originality/Values: Earlier auditing-related studies haven't addressed this problem. This study makes an effort to close such a gap and investigate the subject of the internal auditor’s characteristics and cyber security risk assessment among financial-based organizations.