Internal Auditing in Covid-19 Environment: Is Remote Auditing a Solution?

Mizdraković, Vule; Kljajić, Maja; Zekić, Blaženka Hadrović

doi:10.15308/finiz-2021-3-7

Cited by 7 publications

(2 citation statements)

References 10 publications

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“…It seems that an auditor will be more neutral in RA as he/she will not be influenced by auditee management and will try to find their own source of information to confirm the claims given in financial reporting. There are the arguments showing that when auditors are not physically present at an auditee's premises, he/she will show higher level of skepticism, compared to traditional audit when an auditor may place too much reliance on auditee management presentations (Mizdraković et al, 2021).…”

Section: 1mentioning

confidence: 99%

Remote Quality Management System Audit. Auditors’ and Auditees’ Perspective and Lessons Learned

Wiśniewska

Rombalska

Szymańska-Brałkowska

2022

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Theoretical background: The pandemic situation affected the functioning of each organization, including the assessment of quality management systems. The implementation of remote audits, including remote internal audits, has become an urgent necessity. Purpose of the article: The purpose of this article is to present the results of research on potential difficulties in conducting remote internal audit, from the perspective of auditors and auditees. The auxiliary goal is to collect and organize definitions of remote audit and describe its essence in the light of scientific literature and other sources of a formal nature. Research methods: A review and critical analysis of the literature, the method of a diagnostic survey, and then the method of synthesis and logical reasoning were used. Main findings: Several bottlenecks related to certain difficulties can be identified. Both auditors and audited persons should not waste time searching for relevant documents or records. There is a need to check in advance to what extent the applied information technology is efficient, effective and available to all interested parties during the audit. It is necessary to clarify the roles and tasks before and during audits, and to make sure in advance that all resources, both tangible and intangible, are available during the audit.

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Section: 1mentioning

confidence: 99%

Remote Quality Management System Audit. Auditors’ and Auditees’ Perspective and Lessons Learned

Wiśniewska

Rombalska

Szymańska-Brałkowska

2022

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“…However, mentioned standards do not place specific requirements in detail on how to perform attestation process and acquire assurance (AICPA, 2020). Therefore, one way to respond to the challenges caused by the COVID-19 is to make certain changes related to access to: source and methods of acquiring audit information, risk assessment, as well as the use of new information and communication technologies in performing audit procedures (Mizdraković, Kljajić, & Hadrović Zekić, 2021). Guidelines issued by global and national regulators, as well as professional institutes, can help auditors in responding to emerging challenges.…”

Section: Introductionmentioning

confidence: 99%

Proceedings of the 9th International Scientific Conference - FINIZ 2022

2022

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The global pandemic caused by the coronavirus in 2019 had significant consequences on financial reporting and auditing of those statements, which lead to numerous challenges that both audit clients and auditors had to respond to in a timely manner. Uncertainty and risk arising from the current environment have resulted in changes in reporting and audit procedures, although these areas are strictly governed by the legal and regulatory framework. This paper will analyse the existing guidelines on COVID-19 considerations related to financial statements audit, issued by global and national regulators and professional institutes. Namely, all ISA remain in effect and additionally COVID-19 related guidelines should be used as a supplementary material. Results indicate that auditors should pay close attention to following matters: audit quality, circumstances under which audit is complied, new techniques and technologies, changes in audit procedures and approaches, obtaining audit evidence, professional judgment and professional scepticism, as well as assessment of audit materiality.

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The impact of remote auditing on audit quality: the moderating role of technology readiness

Alma’aitah,

Al-Hajaya,

Sawan

et al. 2024

MAJ

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Purpose This study aims to investigate the impact of remote auditing on audit quality and explore the moderating role of both the client’s and the audit firm’s technology readiness in this interaction. Design/methodology/approach Data was collected through a questionnaire survey distributed to 360 audit professionals in Jordan, resulting in 208 valid responses. The data was analysed using SmartPLS – structural equation modelling. Findings The results showed that remote auditing significantly and positively affect audit quality. This study found that the technology readiness of both the audit firm and the client greatly influences audit quality. Notably, the technology readiness of the client positively enhances the relationship between remote auditing and audit quality, while the technology readiness of the audit firm does not play such a role. Practical implications The findings are of value to policymakers in terms of the positive impact of remote auditing on audit quality, and the role of technology readiness in this regard. In particular, they allow policymakers and regulators of audit profession to make informed and relevant decisions pertaining to the adoption of remote auditing. The findings also indicate the significance for audit firms and business institutions to pay special attention to developing their technology capabilities to keep abreast of rapid technology advancements, ensuring the maximum benefits for auditing profession, thereby enhancing their efficiency and effectiveness. Originality/value The importance of this study lies in its unique contribution to bridging the research gap related to understanding the pivotal role of technology readiness in enhancing the relationship between the use of remote auditing and the achievement of high audit quality.

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Internal Auditing in Covid-19 Environment: Is Remote Auditing a Solution?

Cited by 7 publications

References 10 publications

Remote Quality Management System Audit. Auditors’ and Auditees’ Perspective and Lessons Learned

Remote Quality Management System Audit. Auditors’ and Auditees’ Perspective and Lessons Learned

Proceedings of the 9th International Scientific Conference - FINIZ 2022

The impact of remote auditing on audit quality: the moderating role of technology readiness

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