Recently many audit firms and auditors (including the big-4) have accused and fined thousand of dollars and pounds for basing the opinion on insufficient audit evidence and poor judgment.
Please, can one assess the influence of competence and judgment on auditor performance?
What sub-variables will be appropriate for judgment and auditor performance?
Are there key academic research issues that can be considered regarding these variables?
What are some appropriate theories that can be used?
Considering the research variables, which method of data collection (experimental survey and questionnaire) will you recommend?
Thank you very much for willing to help.
I think you look at this article for auditor performance sub-variable.
I think the connection of judgment and auditor performance for a particular audit is very much important to be analyzed in the context of justice and reality as well as honesty of the auditor.
Hi Evans, I have served on various Boards that have relied on external and internal professional auditor firms. In my experience, I would look for, 1. A realistic and suitable programme of auditor work that looks at key areas of business. 2. All work needs to e focussed on the key organisational risk that should be detailed within a Corporate Risk Register that includes descriptions and mitigations for the risk and who is responsible for their management & reporting to the Board. 3. the Auditors must be independent and have the courage and integrity to take up issues that are identified in their work. 4. Directors of Finance, Audit Committee Chairs and the Board in general but be open to these criticisms and be vigilant in responding to them.
Hope this helps! Chris
Hi Evans,
I don't have financial background, but on the basis of professional ethics, an audit report, being the professional opinion of a firm or an auditor, should be evidence-based and reliable; given that same could ruin the integrity of a company or individual, in the event it was determined that it was either short of sufficient evidence, or influenced. Audit reports are most of the time made public, and as such, auditors should do their outermost best, in ensuring the appropriateness, reliability and sufficiency of evidence.
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