... at: sarah.garven@mtsu.edu 13 06 2019 12 02 2020 20 05 2020 01 06 2020 © Emerald Publishing Limited 2020 Emerald Publishing Limited Licensed re-use rights only Internal audit Audit technology Corporate governance Risk Internal auditing adds values to organizations...

...Ridhima Saggar; Balwinder Singh Purpose This study aims to measure the extent of voluntary risk disclosure and examine the relationship between corporate governance firm level quality in the form of board characteristics and ownership concentration’s impact on risk disclosure in the annual reports...

...Rocco R. Vanasco; Clifford R. Skousen; Richard L. Jenson Auditors gather evidence to formulate their judgment on financial statements and in assessing the risk factors concerning the company under audit. Examines the role played by the American Institute of Certified Public Accountants (AICPA...

...) effective financial and business controls (28 per cent), risk of material loss (14 per cent), capital adequacy (14 per cent), reasonable assurance that the company’s assets are safeguarded (7 per cent), achieving the objectives of the operations of the company concerned (3 per cent), and open reporting...

...Ramadan Hemaida One of the major components of an audit plan is risk assessment. Risk factors vary among organizations, and internal auditors must review their own organizational cultures to determine audit exposure. In order to minimize the risk, the internal audit department must develop an audit...

... types of clientele © MCB UP Limited 1997 Accountancy Auditing profession Corporate governance Risk USA ...

...A.D. Woodhead Highlights that the multiplicative risk model which forms the basis of auditing standards in both the USA and the UK only considers the risk of incorrect acceptance of an account balance. Points out, however, that when planning audit tests, the auditor also faces a risk of incorrect...

... risk and materiality. Differences between international and US guidance would imply that the two sets of standards require different levels of audit work; this situation would be a concern to investors and auditors. Similarities in the international and US standards would suggest consensus regarding...

..., the importance of the quality of the format should not inhibit the use of objective reasoning. Pincus[ 14 ] extended this avenue of analysis by examining the efficacy of using a red‐flag questionnaire to assess the risk of material fraud (a structured audit approach). She found that the use...

... Environmental audit Ethical investment Internal control Liability Risk Social responsibility Caring for the environment has assumed an important place in the American culture. We have become aware of the impacts that the pollution of air, ground and water can have on the quality of life...

... components are: 1 control environment; 2 risk assessment; 3 control activities; 4 information and communication; and 5 monitoring. These interrelated components of internal control must be present and functioning properly in order to have an adequate and effective internal...

...Ramadan Hemaida Risk assessment is one of the major steps in the audit‐planning process. The increase in the number of incidents of auditors′ negligence has focused attention on this important step. Risk is defined in a statement by the Internal Auditing Standards as “the possibility that an event...

...Douglas E. Ziegenfuss Explores the state of the art in internal auditing risk assessment techniques by reviewing professional requirements as stated in Statement of Internal Auditing Standards (SIAS) No. 9 and then examining and discussing currently available risk assessment techniques. Models...

...Janet L. Colbert; C. Wayne Alderman Internal auditors should consider the risks pertinent to an auditee when planning the work. Internal auditors may select a procedures‐driven approach or a risk‐driven approach. In a procedures‐driven approach, the audit procedures are chosen without full...

...Mort Dittenhofer Describes the strategy to be used for internal audit engagements,including: the selection of the audit′s objective; developing the basic plan to achieve the objective; consideration of such aspects as risk and materiality; anticipation of potential technical problems; alternative...

...James H. Thompson; Bart H. Ward Discusses alternative strategies which may be employed when differences arise between achieved audit‐sampling results and planned results, which means that risk levels used in ex post decision making may be different from planned levels. Contrasts...

...Parveen P. Gupta; Manash R. Ray Addresses two important aspects which need to be considered when attempting to maximize excellence in an internal audit department. Suggests that individual auditors′ risk‐taking propensity and tolerance for ambiguity can adversely affect many important decisions...

...Richard Ratliff; Steven Hanks Auditors need to assess organizations′ risk‐taking behaviour in the changing marketplace. Discusses strategic risk – with a specific regard to the product market and its dangers to the organization without the correct techniques. Looks at the two types of risk – action...

...A.D. Woodhead Until recently, the formal model for the estimation of audit risk was relatively straightforward. There were two major approaches: the familiar multiplicative planned risk model in the USA and UK; and the Canadian Bayesian posterior risk model. Recent work has substantially changed...

...Janet L. Colbert Business risk and inherent risk both bear on the audit; the audit risk model; and the nature, timing, and extent of work performed. Inherent risk and business risk bear an inverse relationship to detec‐tion risk and have a direct effect on the level of work performed. Neither risk...