Published October 29, 1998
by South-Western College Pub .
Written in English
|The Physical Object|
|Number of Pages||208|
An audit involves performing procedures to obtain sufficient appropriate audit evidence. The auditor’s professional judgement is applied in deciding which procedures are to be performed. To be able to make appropriate judgements auditors should rely on their experience and draw on their integrity, objectivity and professional scepticism. Mubako teaches auditing and her main research interests are in audit judgment and decision making, professional skepticism, and management fraud. She is also interested in internal auditing and corporate governance issues. Dr. Mubako is a Certified Internal Auditor, a UK Chartered Accountant as well as a member of the American Accounting. The public relies on auditors to make critical professional judgments in an objective, professionally skeptical manner. Participants in capital markets who are making investment decisions place trust and confidence in the judgments made by auditors during audits of public company financial statements. A new Professional Judgment Resource released Wednesday by. Interest in issues related to auditor judgment by parties outside the profession has shown a substantial increase since the events that led to the passage of the Sarbanes–Oxley Act in the United States. Changes in the regulation of the activities of auditors of public companies in the United States have placed an increasing emphasis on the role of professional standards and of inspections in Cited by:
The audit processes that would benefit the most from RPA are those that contain defined audit tasks that are repetitive and time consuming and that do not require audit judgment. Public accounting firms may identify an audit process where RPA can add value by considering expert knowledge, such as that of revenue audit leaders, and calculating. a. In nonstatistical sampling, sample size is determined by auditor judgment. b. In statistical sampling, the sample must be randomly selected to give each unit in the population an equal chance to be included in the sample. c. In nonstatistical sampling, evaluation is based on auditor judgment and projections are based on sample results. d. In addition to being thorough and unbiased when evaluating audit evidence, you also want to apply professional judgment by adopting an attitude of professional skepticism. When exercising professional skepticism, you keep an open and reasonably questioning mind without being overly suspicious. You don’t assume that management is dishonest, and you don’t assume that it’s honest. audit sampling requires auditor judgment The goal of an agency audit is to insure compliance with the client's work standards, evaluate performance and maximize profits. Obviously, no matter how competent the auditor or how sophisticated the collection software, reviewing each account is a .
any and all changes to applications, interfaces, databases, and operating systems must be appropriately authorized, tested, and approved Book value of the population. d) Reliability factor. It allows the auditor to substitute sampling techniques for audit judgment. b) It provides for measuring mathematically the degree of uncertainty. Accounting Organizations and Society, Vol. 14, Nos. 1/2, pp. , Printed in Great Britain AUDIT JUDGMENT RESEARCH" PAUL E. JOHNSON, KARIM JAMAL and R GLEN BERRYMAN University of Minnesota /89 $+ Pergamon Press plc Abstract This paper identifies themes in the audit judgment literature and suggests implications of the research that supports by: " BUSINESS JUDGMENT v. AUDIT JUDGMENT BIBLIOGRAPHY Articles and books American Law Institute, Restatement (Second) of Torts (). Arsht, S. S., The Business Judgment Rule Revisited, Hofstra Law Review (Fall ) pp. Cited by: 5. “Audit Judgment” Please read Case Judging the quality of a client’s internal audit function and determining the effects of internal audit’s work. From the case study, evaluate the quality of REDTOP’s internal audit function.