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This paper aims to examine the perceptions of auditor roles on the workpaper review process in current audit practice. Specifically, the paper investigates how an…
This paper aims to examine the perceptions of auditor roles on the workpaper review process in current audit practice. Specifically, the paper investigates how an auditor’s defined role leads to perceived differences in what initiates the workpaper review process, the preferred methods for performing reviews and the stylization or framing of communicated review comments.
A survey was administered in which practicing auditors were asked about workpaper review process prompts, methods and preferences. The survey was completed by 215 auditors from each of the Big 4 accounting firms and one additional international firm. The final data set consists of quantitative and qualitative responses from 25 audit partners, 33 senior managers, 30 managers, 75 in-charge auditors/seniors and 52 staff auditors.
Findings indicate reviewers and preparers differ in their perceptions of the review process based on their defined roles. First, reviewers and preparers differ in their perspectives on which factors initiate the review process. Second, the majority of reviewers and preparers prefer face-to-face communication when discussing review notes. Reviewers, however, are more likely to believe the face-to-face method is an effective way to discuss review notes and to facilitate learning, whereas preparers prefer the method primarily because it reduces back-and-forth communication. Finally, reviewers believe they predominantly provide conclusion-based review notes, whereas preparers perceive review notes as having both conclusion- and documentation-based messages.
This paper advances the academic literature by providing a unique perspective on the review process. Instead of investigating a single staff level, it examines the workpaper review process on a broader scale. By obtaining views from professionals across all levels, this work intends to inspire future research directed at reconciling differences and filling gaps in the review process literature. The finding that reviewers and preparers engage in role conformity that leads to incongruent perceptions of the review process should encourage the consideration of mechanisms, with the potential to be tested experimentally, by which to reconcile the incongruities.
Results support recent regulator concerns that there are breakdowns in the workpaper review process, and the findings provide some insight into why these breakdowns are occurring. Incongruent perceptions of review process characteristics may be the drivers of these identified regulatory concerns.
This is the first study to examine current workpaper review processes at the largest accounting firms from the perspective of both preparers and reviewers. From this unique data set, one key interpretation of the findings is that workpaper preparers do not appear to recognize a primary goal of the review process: to ensure that subordinates receive appropriate coaching, learning and development. However, workpaper reviewers do, in fact, attempt to support preparers and work to create a supportive team environment.
The purpose of this paper is to introduce coherent Industry 4.0 definition via a rigorous analysis framework, and provide a holistic view of technological, organizational…
The purpose of this paper is to introduce coherent Industry 4.0 definition via a rigorous analysis framework, and provide a holistic view of technological, organizational and other key aspects (variables) of Industry 4.0 along with the identification of interdependencies that co-occur between them.
The study conducts a systematic literature review using Preferred Reporting Items for Systematic Review and Meta-Analysis methodology, and includes 675 papers analyzed both quantitatively and qualitatively. The former utilizes TIBCO Statistica. Furthermore, to define Industry 4.0, the authors reviewed 52 publications.
Industry 4.0 is a multidimensional system of value creation that includes 42 groups of terms in management, organizational and business-related variables, 30 technological and manufacturing-related variables – classified into seven categories – and several interdependencies that co-occur between them.
The analyses’ outcomes are of high importance both for academia and industry practitioners, as the findings elucidate the meaning of Industry 4.0 and may be used as the basis of future research in management, production management, industrial organizations and other Industry 4.0-related disciplines. Regarding industrial companies, the publication serves as a compendium, and should support industrial businesses in the transition from traditional manufacturing into the Industry 4.0 era.
This work’s novelty and value is threefold: first, the paper introduces an Industry 4.0 definition framework based on the most popular publications in the field. Second, the paper identifies and presents Industry 4.0’s common technologies and organizational variables via a systematic and current literature review. Finally, the paper extends the ongoing discourse on Industry 4.0. For the first time in this discipline, interdependences between identified Industry 4.0 variables are presented and discussed.