A Multidisciplinary Approach To Risk Management For Accounting Firms

Folami, Lookman Buky; Jacobs, Fred A.

doi:10.19030/jabr.v18i4.2130

Cited by 2 publications

(3 citation statements)

References 14 publications

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“…This research can fill the gap with research conducted by [4], and [5]. [4] research focuses more on CPA Firm business risk management and has an approach from several disciplines, so its scope is comprehensive. While the research by [5] only considers client acceptance as the key to controlling engagement risk.…”

Section: Resultsmentioning

confidence: 99%

“…To design risk management in CPA Firm, [4] develop a framework for risk management using a multidisciplinary approach. In their research, [4] is more focused on CPA Firms' business risks, so the risks identified are services provided by CPA Firms, clients, service users, law, and CPA Firm businesses in general [4]. [5] conducts research on risk management in client acceptance.…”

Section: Prior Researchmentioning

confidence: 99%

“…The develop a framework for risk management using a multidisciplinary approach to design risk management in CPA Firm. Their research is more focused on CPA Firms' business risks [4]. The conducts research on risk management in client acceptance.…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Professional Risk Management in XYZ Certified Public Accountant Firm

Basalama¹,

Soedibyo²

2022

Proceedings of the International Conference on Economics, Management and Accounting (ICEMAC 2021)

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As a professional service provider, applicable ethics, standards, and regulations must be the basis for making Certified Public Accounting (CPA) Firm's procedures during the engagement. The number of financial report cases involving Public Accountants shows that there is negligence in implementing risk management at the CPA Firm. This study aimed to evaluate the application of professional risk management at CPA Firm by using Quality Control Standards 1 as the basis for assessing compliance with applicable ethics, standards, and regulations. This research was conducted using the case study method. The object of this research is XYZ CPA Firm, which is listed as the non-big four CPA Firm affiliated with the International CPA Firm. The research instruments used in this study were observation and interviews. The study results can be used as a basis for improving the implementation of risk management in XYZ CPA Firm. The study results indicate that overall, XYZ CPA Firm's risk management design has complied with applicable ethics, standards, and regulations. XYZ CPA Firm has also designed control activities for all identified risks. However, the risk management design has not been appropriately implemented. This is indicated by the internal findings related to engagement documentation. Poor implementation was caused by time constraints and a lack of coordination of the audit team. XYZ CPA Firm has also designed control activities for all identified risks. However, the risk management design has not been appropriately implemented. This is indicated by the internal findings related to engagement documentation. Poor implementation was caused by time constraints and a lack of coordination of the audit team. XYZ CPA Firm has also designed control activities for all identified risks. However, the risk management design has not been appropriately implemented. This is indicated by the internal findings related to engagement documentation. Poor implementation was caused by time constraints and a lack of coordination of the audit team.

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