The Future of Audit: A Modified Delphi Approach

Vasarhelyi, Miklos A.; Lombardi, Danielle R.; Bloch, Rebecca

doi:10.2139/ssrn.1740716

Cited by 1 publication

(3 citation statements)

References 17 publications

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“…. Auditing in the future is similar to Vasarhelyi et al (2010). All managers agree on the importance and benefits of continuous control monitoring of all transactions.…”

Section: Reported Issues Faced By the Audit Teamsmentioning

confidence: 96%

“…Perspectives for the future Vasarhelyi et al (2010) used the modified Delphi method (Rowe and Wright, 1999;Baldwin-Morgan, 1993) to predict the effect of technological changes upon auditing in the next ten years. These changes will determine how audits will be performed and the level of training needed by auditors.…”

Section: Reported Issues Faced By the Audit Teamsmentioning

confidence: 99%

“…The client should understand that measures have been taken to guarantee the security and privacy of the data. The interviewees do not expect data independence to be easy to obtain (Vasarhelyi et al, 2012), but they report it as one of the main concerns and a first step necessary to guarantee data quality with the automation of audit envisioned by Vasarhelyi et al (2010).…”

Section: Reported Issues Faced By the Audit Teamsmentioning

confidence: 99%

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Technology in audit engagements: a case study

Vasarhelyi

Romero

2014

Managerial Auditing Journal

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Purpose – The audit of corporations is now dependent on the examination of corporate computer systems. Although tools and techniques have been available for decades, there are major limitations on the audits of corporate systems by external auditors. This paper aims to examine external auditor usage of technology benefiting from a unique opportunity of reviewing a large CPA firm's audit work papers and interviewing their audit staff to examine the following questions: are auditors using the available technological tools? What are the difficulties they face in using these tools? Are there mediators to enhance usability? Why and what circumstances surround their absence? Design/methodology/approach – The authors use a cross-sectional, case-based field study comparing four engagements in a major audit firm. Findings – This paper concludes that the characteristics of the audit team largely determine the levels of technology utilization. Furthermore, the integration of technology support teams and auditors may improve usability, and, consequently, increase technology adoption. Research limitations/implications – The paper includes information about four audit engagements. Given that audit firms have different cultures, practices and employee competencies, and hence emphasize the use of technology to varying degrees, it would be desirable to expand this study to reflect these variations. Practical implications – The paper presents a discussion of the reasons why auditors do not fully use technology and provide tools to increase its usability. Originality/value – The paper benefits from a unique opportunity of interviewing audit teams of a large firm, as well as through reviewing their work papers.

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“…. Auditing in the future is similar to Vasarhelyi et al (2010). All managers agree on the importance and benefits of continuous control monitoring of all transactions.…”

Section: Reported Issues Faced By the Audit Teamsmentioning

confidence: 96%

Section: Reported Issues Faced By the Audit Teamsmentioning

confidence: 99%

Section: Reported Issues Faced By the Audit Teamsmentioning

confidence: 99%

See 1 more Smart Citation