The Interface between Internal and External Audit in the Australian Public Sector

Pilcher, Robyn; Gilchrist, David; Singh, Harjinder; Singh, Inderpal

doi:10.1111/auar.12032

Cited by 25 publications

(20 citation statements)

References 44 publications

(51 reference statements)

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“…Foreign researchers note that the study of the field of audit has traditionally been conducted within the framework of the agency theory, abstracted from the institutional environment (Pilcher R., Gilchrist D. and Singh I., 2011) [10]. Australian scientists (D. G. Mihret, K. James and J. M. Mula, 2010) [11] argue that neoclassical economic theories were the main reason for limited research in the field of internal audit.…”

Section: Evolution Of Audit Studies Based On Institutional Theormentioning

confidence: 99%

Justification of the Institutional Approach to Audit

Chekavinskaya¹

2019

Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2018)

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The article deals with the analysis of the possibility and necessity of using new approaches in accounting and auditing in Russia, one of which is the institutional approach, which should be used as a form and method of audit research. Within the framework of the development of the theory of the research method, the category "approach to research" is analyzed on the basis of the substantiation of the special role of the aspect approach along with the system and conceptual one. The evolution of audit studies based on the institutional theory based on the works of foreign authors from the United States, Ukraine is analyzed. The audit problems and the crisis situation in the audit activity of the Russian Federation, which justify the need for the development of a new institutional theory of audit, are identified. Keywordsaudit; institutional approach; institutional paradigm of audit; evolution of the research of auditing; auditing problems; new institutional theory of auditing.I.

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Section: Evolution Of Audit Studies Based On Institutional Theormentioning

confidence: 99%

Justification of the Institutional Approach to Audit

Chekavinskaya¹

2019

Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2018)

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“…Pilcher et al. () used a case study approach to examine the interrelationships between internal and external audit in a single public sector agency in Australia. Results of the analysis indicate a need to improve communication channels between internal and external audit.…”

Section: Research On Internal Auditing In Australia and New Zealandmentioning

confidence: 99%

The Role of Auditing in Corporate Governance in Australia and New Zealand: A Research Synthesis

Hay

Stewart

Redmayne

2017

Australian Accounting Review

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T he literature synthesis in this paper provides an overview of Australian and New Zealand research on the role of audit in corporate governance. Our focus is on interactions between corporate governance and auditing, including external audit, audit committees and internal audit.In recent years, CPA Australia has supported several research synthesis projects to provide information to practitioners and researchers about the accumulated research on topical areas. The projects have been conducted in conjunction with the Auditing and Assurance Special Interest Group of the Accounting and Finance Association of Australia and New Zealand. They included competition in the audit market (Carson et al. 2014); auditor independence (Carey et al. 2014); scepticism and trust (Harding et al. 2016); and auditor reporting (Carson et al. 2016). The project reported in this paper is the fifth synthesis in the series. The findings should be helpful in making recommendations for policy changes and for advice to entities and individuals affected by corporate governance. They also identify directions for future research.There are numerous definitions of corporate governance. However, one that has received widespread acceptance is that by Justice Owens in the Royal Commission on the collapse of HIH Insurance Ltd, which is cited in the Australian Securities Exchange (ASX) Corporate Governance Principles and Recommendations (ASX Corporate Governance Council (CGC) 2014).Corporate governance describes 'the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled in corporations. It encompasses the mechanisms by which companies, and those in control, are held to account' (ASX CGC 2014: 3). Corporate governance is therefore a means by which companies and other entities discharge their accountability to their stakeholders.A key aspect of governance effectiveness relates to the interaction between corporate governance and auditing. How does auditing affect corporate governance and corporate governance affect auditing? The interaction is not straightforward. To some extent, good auditing will lead to recommendations that will lead to improved governance; but alternatively, good governance should lead to directors setting higher standards, including demanding higher-quality auditing. Both internal and external audits could be affected in different ways. Another related issue is whether better governance is a substitute or a complement for auditing. More effective governance should have a performance-related outcome such as improved disclosure, higher accounting quality or possibly better financial performance. A number of previous literature reviews have drawn conclusions about the relationships between governance and auditing, including audit committees, external audit and internal audit. Bédard and Gendron (2010: 200) reported that audit committee existence and expertise make a difference but number of meetings and size of committee do not. However, Ghafran and O'Sullivan (2013) reach...

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“…Further, this history is important for educators and policymakers in terms of current public sector audit practice. Without an appreciation of the conditions by which governments function (including precedents relating to the purpose, powers and functioning of public sector auditors), and how they were arrived at, it becomes difficult to protect important controls in constitutional arrangements (Finn, ; Pilcher, Gilchrist, Singh, & Singh, ).…”

Section: Introductionmentioning

confidence: 99%

Public sector audit history in Britain and Australia

2017

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The introduction of an independent public sector audit function was a critical element in the nineteenth century constitutional reforms of parliamentary and government accountability and created an essential precedent for current practice. By examining the extent of scholarly research on public sector audit history, findings reveal considerable research examined the teleological development of public sector audit and the modern history in a New Public Management context. However, there has been very little published regarding the complex rationales around the origins, development and importance of independent public sector audit notwithstanding that without an appreciation of these precedents it becomes very difficult to protect the Westminster-based system of democratic government.

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The Interface between Internal and External Audit in the Australian Public Sector

Cited by 25 publications

References 44 publications

Justification of the Institutional Approach to Audit

Justification of the Institutional Approach to Audit

The Role of Auditing in Corporate Governance in Australia and New Zealand: A Research Synthesis

Public sector audit history in Britain and Australia

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