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Article

Walter W. Willborn

Auditors of quality assurance systems contribute to technological excellence in many important ways. They gain much insight into modern technology through their various…

Abstract

Auditors of quality assurance systems contribute to technological excellence in many important ways. They gain much insight into modern technology through their various audits and induce managers to make valuable improvements that raise quality and productivity. More specifically, computer‐based technology is transferred and disseminated through auditors. The interrelationship between the computer and quality auditing is analysed. Innovative and integrative auditing of quality assurance systems is shown to be instrumental in attaining technological improvements. The American Society for Quality Control (ASQC) Guideline for Quality System Auditing also has an important role to play in this respect.

Details

International Journal of Quality & Reliability Management, vol. 6 no. 4
Type: Research Article
ISSN: 0265-671X

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Article

Juha Kettunen

The purpose of this paper is to analyse the maintenance of the process‐based quality assurance system in a higher education institution.

Abstract

Purpose

The purpose of this paper is to analyse the maintenance of the process‐based quality assurance system in a higher education institution.

Design/methodology/approach

The paper introduces the process management as the essential element of quality assurance in higher education and discusses the external quality audit of the quality assurance agency, extends the study to the quality management between the external audits and presents the procedure of internal quality audits. Finally, the results of the study are discussed and summarised. Action research methodology was adopted in this study. The paper shows that the process‐based quality assurance system makes the organisation responsive, agile and enables the achievement of strategic objectives.

Findings

The audit group must first evaluate the necessary improvements in the process. If no improvements are found, the quality deviations must be reported. The audit helps the institution take corrective actions to amend the process descriptions or maintain the processes.

Originality/value

The paper shows that the necessary processes of a higher education institution can be systematically described and audited.

Details

The TQM Journal, vol. 24 no. 6
Type: Research Article
ISSN: 1754-2731

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Article

J.M.P. Venter and R. du Bruyn

Internal auditing assumes an increased responsibility for the evaluation of entity operations as a service to management and the board of directors. Quality assurance…

Abstract

Internal auditing assumes an increased responsibility for the evaluation of entity operations as a service to management and the board of directors. Quality assurance review is the process through which assurance is obtained that the internal auditing department’s work is done in accordance with the Standards for the Professional Practice of Internal Auditing. This study examines the current practices of quality assurance review in South Africa. Although not all organisations surveyed do perform internal auditing quality assurance reviews, the organisations that do, benefit from them. Various methods are used in practice to perform internal and external quality assurance reviews. This study provides information on the processes and procedures used in quality assurance review programmes.

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Article

Norman Jackson

Suggests that the expansion of academic quality audit methodologies within higher education institutions is a significant development in UK quality assurance. It reflects…

Abstract

Suggests that the expansion of academic quality audit methodologies within higher education institutions is a significant development in UK quality assurance. It reflects increasing demands for accountability and also a desire for more dynamic and efficient methods for review and evaluation. The adoption of common regulatory frameworks and centrally defined procedures and protocols; the more explicit specification of intentions and expectations; and the increased use of self‐assessment in quality review processes, have all assisted in creating an environment in which audit methodologies are more acceptable, appropriate and useful. Argues that the development of an audit capacity is essential to the notion of institutional self‐regulation. Such a capacity could form the basis for a type of national quality assurance framework different from that currently operated or proposed, in which there is a much closer articulation of internal and external audit processes.

Details

Quality Assurance in Education, vol. 5 no. 1
Type: Research Article
ISSN: 0968-4883

Keywords

Abstract

Details

Quality Control Procedure for Statutory Financial Audit
Type: Book
ISBN: 978-1-78714-226-8

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Article

Khaled Hussainey

The purpose of this paper is to examine the impact of audit quality, measured by financial statements audited by the big four accounting firms, on the investors' ability…

Abstract

Purpose

The purpose of this paper is to examine the impact of audit quality, measured by financial statements audited by the big four accounting firms, on the investors' ability to predict future earnings for profitable and unprofitable firms.

Design/methodology/approach

The paper uses the returns‐earnings regression model and interacts all independent variables in this model with a dummy variable, AUDIT, which is set to equal one if financial statements audited by the big four accounting firms, zero otherwise. Future earnings response coefficient is the measure of earnings predictability.

Findings

The paper finds that investors are able to better anticipate future earnings when financial statements are audited by the big four accounting firms. However, the findings are not applicable for unprofitable firms.

Practical implications

The findings of the paper have implications for auditing related academic research and the users of financial statements. In particular, the study shows that the big four accounting firms have not lost their audit quality advantage and that financial statements audited by the big four accounting firms are arguably of higher quality than those audited by non‐big four accounting firms.

Originality/value

It is believed that there is no UK study to date examining the association of the quality of financial statements audited by the big four accounting firms and the returns‐earnings association. Consequently, this paper significantly contributes to the limited literature on the perceived value relevance of audit quality.

Details

Managerial Auditing Journal, vol. 24 no. 4
Type: Research Article
ISSN: 0268-6902

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Article

Zabihollah Rezaee

In today’s fast‐paced and ever‐changing audit environment, an improved quality of the internal audit function is essential to the success of internal auditors. Suggests…

Abstract

In today’s fast‐paced and ever‐changing audit environment, an improved quality of the internal audit function is essential to the success of internal auditors. Suggests total quality management (TQM) as a means of achieving continuous quality improvements in internal audit functions. Proposes primarily to: examine TQM principles and their relevance for internal audit functions; and discuss the benefits of proper implementation of TQM techniques and tools for internal auditing departments, internal auditors, and their organization. The TQM principles discussed should be useful for internal audit departments striving for continuous improvement of the quality of their services.

Details

Managerial Auditing Journal, vol. 11 no. 1
Type: Research Article
ISSN: 0268-6902

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Article

Walter Willborn

The concept and method of dynamic auditing are discussed ‐ how they can support and guide auditors in their extended audit tasks. Differentiating between more conventional…

Abstract

The concept and method of dynamic auditing are discussed ‐ how they can support and guide auditors in their extended audit tasks. Differentiating between more conventional static auditing and modern dynamic auditing, without judging one superior over the other, will be helpful to auditors and auditees. Each basic type of auditing has its merits and applications. Dynamic auditing complements existing audit practices and renders auditing itself more effective.

Details

International Journal of Quality & Reliability Management, vol. 7 no. 3
Type: Research Article
ISSN: 0265-671X

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Article

Mahdi Salehi, Mostafa Bahrami and Fatemeh Alizadeh

– The purpose of this paper is to examine the effect of academic education of auditors on the satisfaction of employees and the quality of audit reports.

Abstract

Purpose

The purpose of this paper is to examine the effect of academic education of auditors on the satisfaction of employees and the quality of audit reports.

Design/methodology/approach

In order to collecting data a questionnaire designed and developed among the auditors, managers, and professors in Iran during November 20, 2014.

Findings

The results of the study reveal that the inability to fully understand the audit report is one of the major problems of customers. For the audit firm, issues such as observation of accounting standards in financial statements, preparation of sufficient documents for the auditor, strong internal control, and understanding the limitations and problems of auditors were considered important.

Originality/value

To the best of the authors’ knowledge the current paper is the first study which deals with the topic of the study in developing countries, especially Iran.

Details

Industrial and Commercial Training, vol. 48 no. 5
Type: Research Article
ISSN: 0019-7858

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Article

Harina Ndaba, Michael Harber and Warren Maroun

This paper explores how technical constructions of audit practice are influenced by mandatory audit firm rotation (MAFR) regulations. The paper responds to calls for…

Abstract

Purpose

This paper explores how technical constructions of audit practice are influenced by mandatory audit firm rotation (MAFR) regulations. The paper responds to calls for additional research on how external regulation influences audit quality and supplements the predominately quantitative research dealing specifically with firm rotation and its relevance for audit quality.

Design/methodology/approach

Data are collected from South Africa which is the latest jurisdiction to adopt MAFR (from 2017). Detailed interviews with 49 participants comprising 24 audit partners and 25 non-auditors are conducted to explore how MAFR can impact audit quality. For this purpose, audit quality is defined according to a schematic developed interpretively and based on professional auditing standards and the prior research on audit quality.

Findings

There is no guarantee that MAFR will bolster auditors' independence or contribute to a more thorough audit approach. On the contrary, the effort required by incoming audit firms to gain an understanding of new clients coupled with material tendering costs is expected to decrease the profitability of audit engagements with adverse implications for audit quality. A loss of client experience and staff retention challenges may contribute further to a decline in audit quality. There may be some improvements to audit practice when an incumbent firm's work is going to be scrutinised by a new auditor but audit methodologies, including the nature and extent of testing performed, are not expected to change significantly because of MAFR. In this way, the regulation may be a symbolic response to a perceived decline in audit quality and auditor independence rather than part of an effective strategy to encourage more rigorous audit practice for the benefit of the users of financial statements.

Originality/value

The current paper provides one of the first exploratory accountants of how MAFR is expected to impact audit practice and, in turn, audit quality. The research responds to the call for more field-work studies on the mechanics of the audit process by engaging directly with practitioners instead of relying on inferential testing of broad audit quality surrogates. The study also makes an important empirical contribution by providing primary evidence on how external regulation influences audit practice from a seldom studied African perspective.

Details

Journal of Accounting in Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2042-1168

Keywords

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