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Article
Publication date: 17 December 2021

Crawford Spence and Dorothy Toh

This paper aims to show how The Audit Society was oriented towards, not just accounting scholars but also towards social scientific enquiry more broadly.

Abstract

Purpose

This paper aims to show how The Audit Society was oriented towards, not just accounting scholars but also towards social scientific enquiry more broadly.

Design/methodology/approach

This is a reflective review of the impact that Mike Power’s The Audit Society has had on social science.

Findings

The authors find that The Audit Society successfully built conceptual bridges “up” and “out” towards other social science disciplines.

Research limitations/implications

The authors highlight the importance of theorizing “up” and “out” for present day accounting scholars.

Originality/value

The authors offer a personal reflection on The Audit Society which has influenced the own study in various ways.

Details

Qualitative Research in Accounting & Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1176-6093

Keywords

Abstract

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Continuous Auditing
Type: Book
ISBN: 978-1-78743-413-4

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Abstract

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Knowledge Assets and Knowledge Audits
Type: Book
ISBN: 978-1-78973-771-4

Abstract

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

Abstract

Details

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

Abstract

Details

Knowledge Assets and Knowledge Audits
Type: Book
ISBN: 978-1-78973-771-4

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Article
Publication date: 18 January 2022

Michael Kend and Lan Anh Nguyen

The purpose of this study is to explore audit procedure disclosures related to key audit risks, during the prior year and the initial year of the COVID-19 outbreak, by…

Abstract

Purpose

The purpose of this study is to explore audit procedure disclosures related to key audit risks, during the prior year and the initial year of the COVID-19 outbreak, by reporting on matters published in over 3,000 Australian statutory audit reports during 2019 and 2020.

Design/methodology/approach

This study partially uses latent semantic analysis methods to apply textual and readability analyses to external audit reports in Australia. The authors measure the tone of the audit reports using the Loughran and McDonald (2011) approach.

Findings

The authors find that 3% of audit procedures undertaken during 2020 were designed to address audit risks associated with the COVID-19 pandemic. As a percentage of total audit procedures undertaken during 2020, the authors find that smaller practitioners reported much less audit procedures related to COVID-19 audit risks than most larger audit firms. Finally, the textual analysis further found differences in the sentiment or tone of words used by different auditors in 2020, but differences in sentiment or tone were not found when 2020 was compared to the prior year 2019.

Originality/value

This study provides early evidence on whether auditors designed audit procedures to deal specifically with audit risks that arose due to the COVID-19 pandemic and on the extent and nature of those audit procedures. The study will help policymakers to better understand whether Key Audit Matters provided informational value to investors during a time of global crisis.

Details

Managerial Auditing Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 11 January 2022

Mouna Hazgui, Peter Triantafillou and Signe Elmer Christensen

The increasing uptake of performance auditing (PA), which entails both the facilitation and the control of government policies, has seriously challenged state auditors'…

Abstract

Purpose

The increasing uptake of performance auditing (PA), which entails both the facilitation and the control of government policies, has seriously challenged state auditors' claims that they are apolitical. This article aims to understand how supreme audit institutions (SAIs) operate to maintain and nurture the political neutrality and legitimacy of their PA.

Design/methodology/approach

The authors draw on Suchman's typology on legitimacy (1995) to analyze the PA reports of two countries with a long history of both performance auditing and accusations of political interference, namely Canada and Denmark. Documentary analysis and interview methods are employed.

Findings

This study shows how the two SAIs have been pursuing pragmatic, moral and cognitive legitimacy through the professionalization and standardization of both the form and the content of their PA reports. Engaging and maintaining the dialogue with the audited administration, triangulating recognized social science methods, and emphasizing the “public interest” basis of PA reflect some of the tools adopted to navigate the “grey zone” between objective, relevant and politically sensitive audits.

Research limitations/implications

The paper's explorative approach limits the possibility for robust testing of the causal forces impinging on SAIs' choices of legitimation strategies. Nevertheless, variations between the Canadian and Danish SAIs in the strategic use of some legitimacy tools such as the media suggest a difference in the role of Public Accounts Committee in the two countries that can be investigated in future research.

Originality/value

Much research exists questioning the political neutrality of PA, yet there has not been much discussion on how SAIs have been able to develop and preserve the prevalent legitimacy of their PA amid the criticism. More specifically, our research reveals the tendency of both the Canadian and Danish SAIs to strategically underline the “public interest” dimension of their performance audits in an attempt to increase both their legitimacy and political neutrality.

Details

Accounting, Auditing & Accountability Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 10 January 2022

Yeamin Jacky and Noor Adwa Sulaiman

This study examines the perceptions of interested stakeholders on the factors affecting the use of data analytics (DA) in financial statement audits. Response letters…

Abstract

Purpose

This study examines the perceptions of interested stakeholders on the factors affecting the use of data analytics (DA) in financial statement audits. Response letters submitted by stakeholders of the auditing services to the International Auditing and Assurance Standards Board's (IAASB) Data Analytics Working Group (DAWG) served as sources for analysis.

Design/methodology/approach

The modified information technology audit model was used as a framework to perform a direct content analysis of all the 50 response letters submitted to the DAWG.

Findings

The analysis showed that a range of attributes, such as the usefulness of DA in auditing, authoritative guidance (auditing standards), data reliability and quality, auditors' skills, clients' factors and costs, were the factors perceived by stakeholders to be affecting the use of DA in external auditing.

Research limitations/implications

This study is subjected to the limitations inherent to all content analysis studies. Nonetheless, the findings offer additional insights about potential factors affecting the adoption of DA in audit practices.

Originality/value

The data noted in the published statements highlighted the perceptions of a range of stakeholders with regards to the factors affecting the use of DA in auditing.

Details

Asian Review of Accounting, vol. 30 no. 1
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 12 January 2022

Peter Skaerbaek

The purpose of this paper is to explore the implications that Power’s book had to the author’s research in public sector auditing.

Abstract

Purpose

The purpose of this paper is to explore the implications that Power’s book had to the author’s research in public sector auditing.

Design/methodology/approach

In this paper, the author reflects and debates the inspiration that Michael Power’s book The Audit Society had on the author’s own research.

Findings

The author finds that this book had a significant influence on how he succeeded theorizing his studies on auditing, and how he could contribute to the audit literature. It is stunning how the book succeeded in synthesizing audit research, encouraging scholars to understand auditing as a social practice, i.e. how auditing can be theorized using various social science theories and how the book also appealed to broader social science.

Research limitations/implications

This paper is a reflection that covers around a 20-year period with potential mis-representations of how exactly sequences of actions and thoughts were.

Practical implications

This paper helps to clarify how it is that audit operates and influences everyday life of persons involved with auditing.

Social implications

This paper casts doubts as to what actions are carried out in the name of audit and that audit is not just a value free activity but involved with political agendas.

Originality/value

The originality of this paper is that it fleshes out how a seminal book can have significant implications on how research is carried out.

Details

Qualitative Research in Accounting & Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1176-6093

Keywords

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