Open Source Software in Financial Auditing

Correia, Tânia; Pedrosa, Isabel; Costa, Carlos J.

doi:10.4018/978-1-5225-7356-2.ch010

Cited by 4 publications

(4 citation statements)

References 13 publications

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“…ICT-adopted audit firms' performance may have better efficiency. Computerized auditing software and CAATs and tools are essential tool to the auditor, being a mechanism that helps to achieve auditing goals with efficiency, quality and to increase reliability on data analysis and evidence collection (Bradford et al, 2020;Correia et al, 2019). The internet has brought a drastic change in the business world.…”

Section: Information Communication Technology Adoptionmentioning

confidence: 99%

Characteristics of information communication technology and audit practices: evidence from India

Thottoli

Thomas²

2020

VJIKMS

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Purpose The purpose of this study is to investigate the relationship between characteristics of information communication technology (ICT, adoption, confidence, competency and training) and auditing practices. The paper further explained the significance of the auditing practices, evaluated the relationship between ICT characteristics (adoption, confidence, competency, training) and auditing practices. Design/methodology/approach The study adopts a quantitative approach, where a set of questionnaires was developed by making necessary adaptations to available scales/items. Data were collected from practicing chartered accountants in Kerala targeting 89 respondents from various professional auditing firms. The results were analyzed using Statistical Package for the Social Sciences and structural equation modelling-partial least squares statistical tools. Findings The findings confirmed that there is a positive relationship between three components of ICT factors on audit practice, namely, ICT adoption, ICT competency and ICT training, whereas the factor, ICT confidence has a negative relationship with audit practice. Thus, the availability of ICT-competent staff, their practical ICT knowledge, sufficient and adequate ICT training assist audit firms from doing audit by implementing customized audit software for audit practice. Research limitations/implications A limitation of the study is that limited variables of ICT on audit practice are taken in the model. Refinement of the model and the variables (such as ICT challenges), ICT perceived benefits and the unified theory of acceptance and use of technology (UTAUT) model used provide an opportunity for future research. Practical implications The barriers facing by non-big four audit firms (especially sole proprietorship and limited liability partnership firms) faces ICT challenges requires intense management interventions to be self-equipped for the current information technology (IT) world and to facilitate and to ensure fairness of financial statements to the stakeholders that strongly links auditors advance IT skills and available firms resources to investment and adopt audit software for the benefits of the audit firms. Originality/value The paper upstretched some of the ICT challenges that will assist as points, which have been helpful for future researchers, and have provided accounting and auditing professionals, auditing professional institutions and their management, government, tax officials, policy makers, auditing software vendors and other stakeholders the bases for encouraging ICT adoption.

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Section: Information Communication Technology Adoptionmentioning

confidence: 99%

Characteristics of information communication technology and audit practices: evidence from India

Thottoli

Thomas²

2020

VJIKMS

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“…It is evident that those audit firms that use IT demonstrate better performance than those audit firms that do not use IT. Audit firms are increasingly using CAATs and audit software as an essential tool, which helps the auditor attain an increased level of audit quality and efficiency, which, in turn, improves the reliability of data analysis and the collection of evidence (Correia et al, 2019). Hence, it is hypothesized that:…”

Section: Technology Adoptionmentioning

confidence: 99%

Emerging technology and auditing practice: analysis for future directions

Thottoli

Ahmed

Thomas³

2022

EJMS

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PurposeThe purpose of this paper is to explore the effects of emerging technology (technology adoption, perceived benefits, technological challenges and ease of use) and the auditing practice of accounting professionals.Design/methodology/approachThe primary method of data collection was a questionnaire directed to newly practicing chartered accountants who are partners of sole proprietorship or partnership firms in India. The data were analyzed by using partial least squares structural equation modeling (PLS-SEM).FindingsThe findings revealed that there is a positive and significant relationship between characteristics of emerging technology (technology adoption, technological challenges and ease of use) and auditing practice, while factors of the perceived benefits had a negative relationship with auditing practice.Research limitations/implicationsThe study model would aid technology enabled audit research by giving a platform for a new study to investigate further detailed solutions to emerging information technology determinants.Practical implicationsThis study illustrates how tools technique perceived benefit motivates sole proprietorship practicing auditors to adopt emerging technology- enabled auditing software for auditing client's financial statements. Further, this study has added to the information technology auditing literature and might add benefits to the numerous other audit firms to adopt in emerging technology tools their audit firm.Social implicationsAudit firms, generally sole proprietorship and partnership firms, should be given enough awareness about the latest audit software tools to carry out their audit tasks efficiently.Originality/valueThe study findings highlight benefits of emerging technology-enabled auditing practice among owners/partners of the sole proprietorship or partnership firms, which is not extensively discussed in the prior studies. Furthermore, it broadens knowledge of perceived benefit, technological challenges and ease of use in technology-enabled audit software in the auditing and accounting literature.

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“…19 In 2019, Tânia Correia et al presented a study to find OSS assimilation in financial auditing firms. 20 In 2019, Placide Poba-Nzaou et al performed a systematic literature review using a data-driven approach and an expert assessment to identify the critical barrier that inhibits organizations from Adopting OSS business intelligence (BI) tools. 21 Putratama et al, in 2020, identify the factor that influences the widely use free/open-source Hospital Management Information System (HMIS) product in the health care sector.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In the US Department of Defense (DOD), several important elements for OSS component induction are identified in 2019 19 . In 2019, Tânia Correia et al presented a study to find OSS assimilation in financial auditing firms 20 . In 2019, Placide Poba‐Nzaou et al performed a systematic literature review using a data‐driven approach and an expert assessment to identify the critical barrier that inhibits organizations from Adopting OSS business intelligence (BI) tools 21 .…”

Section: Literature Reviewmentioning

confidence: 99%

Mission‐critical open‐source software adoption model validation using Partial Least Square ‐ Structural Equation Modeling

Laila¹,

Ahmed

Arfeen

et al. 2022

J Software Evolu Process

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This paper aims to validate the mission‐critical OSS (open‐source software) model acceptance process using a third‐order formative‐formative measuring model. A two‐stage formative‐formative model was used for partial least square analysis. It includes eight primary mission‐critical OSS adoption constructs and three second‐order (technological, organizational, and environmental). Although nomological validity was affirmed, the empirical findings show the absence of multicollinearity. This study will give organizations in critical industries enough information to understand the importance and weight of each component/factor of the mission‐critical OSS adoption model. The coefficient of determination R2 exceeds the minimum threshold (0.750), and all the hypotheses are significant. This study also contributed to the existing literature by identifying those factors that influence mission‐critical OSS adoption, allowing firms in critical sectors to better understand their mission‐critical OSS adoption issues. Cross‐cultural validation across a broad community is proposed to increase the validity and generalization of the sample scales.

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Open Source Software in Financial Auditing

Cited by 4 publications

References 13 publications

Characteristics of information communication technology and audit practices: evidence from India

Characteristics of information communication technology and audit practices: evidence from India

Emerging technology and auditing practice: analysis for future directions

Mission‐critical open‐source software adoption model validation using Partial Least Square ‐ Structural Equation Modeling

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