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Auditing Research: Past, Present & Future Arnie Wright.

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Presentation on theme: "Auditing Research: Past, Present & Future Arnie Wright."— Presentation transcript:

1 Auditing Research: Past, Present & Future Arnie Wright

2 Auditing Research: Past Topic analysis of published AJPT articles while I was editor [1999-2003] Three most frequent topics Auditor independence [9 articles independence in fact, 3 articles independence in appearance] Risk assessment and program planning Going concern reports

3 Auditing Research: Past Wide variety of topics Auditor changes/auditor selection Audit fees Litigation Audit performance individual factors (task experience, memory errors, accountability) Audit performance firm factors (Big N, specialization)

4 Auditing Research: Past Whats missing in this picture? Topics that didnt appear often Internal controls and IT Non-North American data/settings Continuous auditing Analytical procedures Fraud detection Practice notes

5 Auditing Research: Present Continued focus on auditor independence issues (e.g., non-audit services) and risk assessment/program planning (slight shift holistic audit approaches) Whats changed? Expanded attention to corporate governance Greater focus on fraud detection Increased attention to earnings management and auditor-client negotiations

6 Auditing Research: Future Impact of Sarbanes-Oxley Assurance on internal controls; IT environment Corporate governance mechanisms: audit committees; internal audit; board Regulation of the profession Auditing from a worldwide perspective International auditing standards Coordinating a global audit Audit environments outside Anglo-Saxon areas

7 Auditing Research: Future Continuous auditing Requires a fundamental shift of monitoring the accounting system and controls vs. auditing the balances Analytical procedures Holistic audit approaches Fraud detection Independence In appearance (limited research) Instilling professionalism and skepticism

8 Auditing Research: Future Fraud detection Improvements in risk assessment and designing an effective response Audit sampling Testing of controls post Sarbanes-Oxley Practice notes Two way communications with practice Innovative practices and i.d. of pressing issues

9 Auditing Research: Future Assurance services Demand/supply for various types of services worldwide Rise in disclosures of non-financial information

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