A new approach of audit functions and principles

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					        A new approach of audit
        functions and principles

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http://www.sciencedirect.com/science/article/pii/S0959652612006646
In this paper, based on our experience
                study
 and literature study, we propose a new
 set of audit functions to govern audit
 p
 process effectiveness. We make a review
 of the existing literature to identify the
 audit principles with the aim to find
 connections between them and the
 newest audit functions. For each function
 we associate a group of principles in view
 of a better understanding of the role of
 audit process.
Using a survey we tested the staff
 perceptions on the audit functions
 hierarchy, on audit principles importance
 and the links between audit principles
                               p   p
 and deontology and competence of the
 auditor.
The audit functions established were
 assessed in two ways, by direct ranking
      th       i t    l    d i di  tl by
 on a three-point scale and indirectly, b
 evaluating the importance level of audit
                            scale.
 principles on a five-point scale
 The results of the survey have been
  statistically investigated using Principal
  Component Analysis and illustrate that: the
  entrepreneurs are the ones who give the
                             h    d
  greatest importance to the audit principlesl
  in contrast with the opinion of management
  representatives and the process owners; the
  opinions of the participants in the survey
  concerning the level of importance given to
  the audit functions are different in the direct
  evaluation compared with the ones obtained
                   evaluation
  in the indirect evaluation, accomplished by
  assessment of associated principles.
The general assessment of the auditor's
 behavior highlighted the need to
 approach the audit principles in a
 p        g              ,
 percentage of 68.385%, from the ethical
 point of view, and 31.615% from the
 point of view of applying his
 competences.

				
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posted:2/23/2013
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Description: In this paper, based on our experience and literature study, we propose a new set of audit functions to govern audit process effectiveness. We make a review of the existing literature to identify the audit principles with the aim to find connections between them and the newest audit functions.