Business Commons^™

Continuous Monitoring Of Enterprise Risks: A Delphi Feasibility Study, Robert Baksa

Dissertations

A constantly evolving regulatory environment, increasing market pressure to improve operations, and rapidly changing business conditions are creating the need for ongoing assurance that organizational risks are continually and adequately mitigated. Enterprises are perpetually exposed to fraud, poor decision making and/or other inefficiencies that can lead to significant financial loss and/or increased levels of operating risk. Increasingly, Information Systems are being harnessed to reinvent the risk management process. One promising technology is Continuous Auditing, which seeks to transform the audit process from periodic reviews of a few transactions to a continuous review of all transactions. However, the highly integrated, rapidly …

The Service-Quality Audit: A Hotel Case Study, James Y. Luchars, Timothy R. Hinkin

Timothy R. Hinkin

A service audit that quantifies the cost of everyday errors can help a hotel manager pinpoint which quality problems to address first.

Evidence On The Audit Risk Model: Do Auditors Increase Audit Fees In The Presence Of Internal Control Deficiencies?, Chris Hogan, Michael Wilkins

Michael S Wilkins

The article discusses the study of determining whether audit risk model is descriptive of what occurs in the auditing practice or if the relationship between fees and internal control deficiencies (ICDs) suggest that audit enterprises exert more effort in auditing firms that impart ICDs. The study examines the internal controls over financial reporting (ICOFR), generally accepted accounting principles (GAAP), audit risk model, audit fees and sections of Sarbanes-Oxley Act. The study found out that audit fees are significantly higher for firms disclosing material weakness.

Auditor Perceptions Of Audit Workloads, Audit Quality, And The Auditing Profession, Julie Persellin, Jaime Schmidt, Michael Wilkins

Michael S Wilkins

In this study, we use a survey instrument to obtain perspectives from over 700 auditors about present-day audit workloads, the relationship between audit workloads and audit quality, and auditing as a career. Our findings indicate that auditors are working, on average, five hours per week above the threshold at which they believe audit quality begins to deteriorate and often 20 hours above this threshold at the peak of busy season. We find that auditors perceive workload fatigue as having the largest negative impact on morale, and understaffing and staff turnover as being two of the biggest impediments to delivering a …

From Legally Confidential To Financially Confident: Resolving The Tension Between Lawyers And Auditors Over Contingent Liability Disclosure, Samantha Nicole Kunz

CMC Senior Theses

Auditors review documented financial figures to test for their accuracy and materiality. Lawyers analyze evidential facts and records to build sound legal arguments. These parties work toward a mutual purpose: to present their clients as legitimate and compliant businesses. But what happens when the concrete facts upon which lawyers and auditors base their work are obscured by their inability to see into the future? In other words, how can these professions conjunctively handle potential future obligations brought about by contingent liabilities?

This study will attempt to resolve the tensions that emerge between lawyers and auditors when tasked with estimating the …

Narrowing The Gap Of Financial Fraud Detection In Corporations, Solomon Aborbie

Walden Dissertations and Doctoral Studies

Business leaders remain exposed to financial and accounting fraud as well as loss of profitability, despite the dictates of the SOX Act of 2002. The most challenging aspect of corporate management is the unexpected nature of an emerging, existing, or an inherent financial risk. Guided by the evolution of fraud theory, this exploratory case study's purpose was to identify and explore the financial management strategies that corporate financial managers need to adequately protect investors. Twenty participants from a population group of corporate auditors of Fortune 1000 corporations within 70 miles of Columbus, Ohio provided input for this study. Data from …