Using Virtual Worlds to Simulate Real-World Audit Procedures

Abstract

It is not uncommon for educators to struggle with providing their students real-world experiences within the classroom environment. This is particularly true when teaching a subject as application-oriented as auditing. This article furthers existing literature on using virtual worlds in the classroom by describing the learning strategies of using a common virtual world application, Second Life, to simulate a physical examination of inventory in a master's-level auditing class. Specifically, this article explores how an inventory simulation exercise can be used within a virtual world to maximize learning objectives focused on critical thinking and professional judgment, project management and teamwork, effective documentation, interviewing skills, and applying auditing standards. It also examines the feedback received from students in incorporating virtual worlds into the classroom, and lessons learned for future application. Based on pre- and post-assignment surveys, the results demonstrate that students significantly improved their inventory observation knowledge, interviewing, audit documentation, critical thinking, and group work skills completing a virtual world inventory simulation experience. The most significant lesson for instructors to take away is how to include virtual worlds into course activities to maximize the learning objectives.

Simulation – is it all worth it? The impact of simulation from the perspective of accounting students

“…The first main finding indicates that whilst students largely agree that the audit simulation material aids understanding and adds values, the majority of students are only using the material rarely for the purposes of assessment in most cases. This supports the calls for real life within the curricula (Drake, 2011;Buckless et al, 2014;Springer and Borthwick;2004;Svenstrom, 2016). However, this finding then raises the issues of engagement by studentswhilst they appreciate the real life application benefits (Bell and Loon, 2015;Hughes and Scholtz, 2015;Blackford and Shi, 2015), they are, in majority of cases, either unable (due to conflicting time pressure) or unwilling to engage.…”

“…It is believed that given its success in accounting standards and account preparation subjects that its introduction within auditing would follow a similar path. A recent study in the US (Buckless, Krawczyk & Showalter, 2014) focuses on the use of second life as a medium to simulate inventory count procedures (as part of the overall audit). The arguments made for adoption of simulation were through the knowledge gains of students in preparing for interviews, work papers and application of professional scepticism (Buckless et al, 2014, p. 400).…”

“…Following the review of the extant literature, the following suppositions are proposed: Supposition 1students will perceive benefits to their learning experience, due to the real life aspects of the audit simulation. (Drake, 2011;Buckless et al, 2014;Springer and Borthwick;2004;Svenstrom, 2016) Supposition 2students will engage with simulation materials in order to improve employability skills, and ultimately employability prospects. (Skills development: Gammie, Gammie and Cargill, 2002;Andrews and Higson, 2014;ACCA, 2016.…”

The effect of games and simulations on higher education: a systematic literature review

“…In the context of online education, this research area attracts a significant amount of interest from the scientific and educational community, for example tutors, students and game designers. With the growing expansion of technology, instructors and those who create educational policy are interested in introducing innovative technological tools, such as video games, virtual worlds, and Massive Multi-Player Online Games (MMPOGs) (Buckless, 2014;Gómez, 2014).…”

Effectiveness of an accounting videogame in terms of attributes, motivation and learning outcomes

“…The content of the game is so abstract that it was hard to keep my attention on it 12 As I worked on the game, I was confident that I could learn the content 13 I enjoyed the game so much that I would like to know more about this topic 14 Learning outcomes, were again assessed based on students' own perceptions of the learning process, which is the most commonly used alternative found in previous research on the effectiveness of DGBL (Buckless, Krawczyk, & Showalter, 2014;Huebscher & Lendner, 2010;Tao, Cheng, & Sun, 2009, 2012Wynder, 2004). The researchers produced an inventory of the learning goals connecting the selected topic (working capital management) with the chosen videogame (see Table 4).…”