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The digital economy has significantly altered the way business is conducted and financial information is communicated. A rapidly growing number of organizations are…
The digital economy has significantly altered the way business is conducted and financial information is communicated. A rapidly growing number of organizations are conducting business and publishing business and financial reports online and in real-time. Real-time financial reporting is likely to necessitate continuous auditing to provide continuous assurance about the quality and credibility of the information presented. The audit process has, by necessity, evolved from a conventional manual audit to computer-based auditing and is now confronted with creating continuous electronic audits. Rapidly emerging information technology and demands for more timely communication of information to business stakeholders requires auditors to invent new ways to continuously monitor, gather, and analyze audit evidence. Continuous auditing is defined here as “a comprehensive electronic audit process that enables auditors to provide some degree of assurance on continuous information simultaneously with, or shortly after, the disclosure of the information.” This paper is based on a review of related literature, innovative continuous auditing applications, and the experiences of the authors. An approach for building continuous audit capacity is presented and audit data warehouses and data marts are described. Ever improving technology suggests that the real-time exchange of sensitive financial data will place constant pressure on auditors to update audit techniques. Most of the new techniques that will be required will involve creation of new software and audit models. Future research should focus on how continuous auditing could be constantly improved in various auditing domains including assurance, attestation, and audit services.
Technological advances (e.g. e‐commerce and the Internet) have changed business practices and the process of recording and storing business transactions. Extensible…
Technological advances (e.g. e‐commerce and the Internet) have changed business practices and the process of recording and storing business transactions. Extensible Business Reporting Language (XBRL) will soon be built into accounting and reporting software which would allow on‐line real‐time preparation, publication, examination, and extraction of financial information. Thus, outside, independent auditors should use continuous, electronic auditing when most financial information exists only in electronic form under real‐time accounting systems. Continuous auditing and its implications for independent auditors, including internal control considerations and audit procedures, are described and analyzed.
Recently, a number of environmental laws and regulations have been enacted to hold organizations more accountable for their environmental responsibilities. The…
Recently, a number of environmental laws and regulations have been enacted to hold organizations more accountable for their environmental responsibilities. The International Standards Organization (ISO), issued ISO 14000 environmental standards to assist entities worldwide in managing their environmental requirements and to ensure that their environmental policies and practices conform to their missions and goals. ISO 14000 environmental standards are divided into six categories: (1) environmental management systems; (2) environmental auditing; (3) environmental performance evaluation; (4) environmental labeling; (5) life‐cycle assessment; and (6) environmental aspects in product standards. These standards assist entities in preparing step‐by‐step implementation plans to adopt an adequate and effective environmental management system, conduct proper environmental audits, and successfully become registered to ISO 14001. This article presents a 15‐step process which accountantsshould suggest to their organizations to achieve ISO 14001 certification.
The objectives of this study are to offer cash based funds flow components as an alternative to financial ratios for classifying the financial performance of companies; to…
The objectives of this study are to offer cash based funds flow components as an alternative to financial ratios for classifying the financial performance of companies; to test empirically the ability of funds flow components to distinguish between failed and nonfailed companies with special emphasis on working capital components; to analyse the empirical results and make recommendations for future study.
Accounting education is passing through a critical stage. In 1988 the American Institute of Certified Public Accountants (AICPA) voted overwhelmingly to require 150…
Accounting education is passing through a critical stage. In 1988 the American Institute of Certified Public Accountants (AICPA) voted overwhelmingly to require 150 semester hours of education, including a baccalaureate degree, for new members from the year 2000. AICPA together with the National Association of State Boards of Accounting (NASBA) is working to require the 150 hours education requirement to sit for the CPA examination. Twenty four states have passed various versions of this law; many more are in the process of passing it.
This paper provides, first, a historical perspective of accounting research relating to Asian/Pacific countries as seen from the vantage of the leading international…
This paper provides, first, a historical perspective of accounting research relating to Asian/Pacific countries as seen from the vantage of the leading international journal in the United States and, second, a bibliographical data base and index of twenty‐six years of articles on this region of the world. It accomplishes the first objective by presenting a tabular profile of research in international accounting as it pertains to countries in the Asian/Pacific Rim region as shown in articles published in the International Journal of Accounting (formerly, the International Journal of Accounting, Education and Research) and related publications which appeared from 1965 to 1990. The articles are classified according to country, research methodology, subject, and five‐year time periods. The paper accomplishes the second objective by providing an annotated bibliography of 125 articles on Asian/Pacific Rim countries and indices by country and methodology, and subject.
This paper presents a theoretical framework for environmental performance by looking at the crucial employer and employee factors affecting environmental performance. The…
This paper presents a theoretical framework for environmental performance by looking at the crucial employer and employee factors affecting environmental performance. The model focuses on the integration between top management commitment, employee empowerment, rewards, feedback and review, and environmental performance. Suggestions for managers on implementing core concepts from the model, in addition to the challenges they may encounter are discussed throughout the article.
Most years, several AIB members are elected as AIB Fellows on account of their excellent international business scholarship, and/or past service as AIB President or Executive Secretary. The Fellows are in charge of electing Eminent Scholars as well as the International Executive and International Educator (formerly, Dean) of the Year, who often provide the focus for Plenary Sessions at AIB Conferences. Their history since 1975 covers over half of the span of the AIB and reflects many issues that dominated that period in terms of research themes, progresses and problems, the internationalization of business education and the role of international business in society and around the globe. Like other organizations, the Fellows Group had their ups and downs, successes and failures – and some fun too!
The continuing development of enterprise resource planning (ERP) systems has been considered by many researchers and practitioners as one of the major IT innovations in…
The continuing development of enterprise resource planning (ERP) systems has been considered by many researchers and practitioners as one of the major IT innovations in this decade. ERP solutions seek to integrate and streamline business processes and their associated information and work flows. What makes this technology more appealing to organizations is increasing capability to integrate with the most advanced electronic and mobile commerce technologies. However, as is the case with any new IT field, research in the ERP area is still lacking and the gap in the ERP literature is huge. Attempts to fill this gap by proposing a novel taxonomy for ERP research. Also presents the current status with some major themes of ERP research relating to ERP adoption, technical aspects of ERP and ERP in IS curricula. The discussion presented on these issues should be of value to researchers and practitioners. Future research work will continue to survey other major areas presented in the taxonomy framework.