The Future of Audit

Danielle Rose Lombardi, Rebecca Bloch, Miklos A Vasarhelyi

Resumo


The purpose of this study is to discuss the current state and future of auditing. Expert consensus is used as a basis to examine the current state of auditing and generate modifications both needed and likely to occur in the audit profession. This study contributes to the literature by using the Delphi method to develop predictions as to the direction of the audit industry and discuss the implications associated with these predictions. If auditors can better understand where the profession stands and where it is headed, then they can better prepare for the future. Some predictions emerging from this study relative to future audit practices include increasing automation of audit procedures, more predictive financial statements, continuous auditing of financial statements and transactions, and an increasingly global perspective regarding audit activities.

Palavras-chave


Audit; Brainstorming; Delphi method; Information systems; Expert panel

Texto completo:

PDF (English)

Referências


Anderson, U. (2012). Assurance Coordination: Managing the Organization’s Assurance Network, presentation, 2/22/12.

Baldwin-Morgan, A. (1993). The impact of expert system audit tools on auditing firms in the year 2001: A Delphi investigation. Journal of Information Systems, 7(1), 16-34.

Bell, W. (1967). Technological forecasting - what it is and what it does. Management Review,56(8), 64.

Brancheau, J. C., Janz, B.D. & Wetherbe, J.C. (1996). Key issues in information systems management: 1994-95 SIM Delphi results. MIS Quarterly, 20(2), 225-242.

Cegielski, C. G. (2008). Toward the development of an interdisciplinary information assurance curriculum: Knowledge domains and skill sets required of information assurance professionals. Decision Sciences Journal of Innovative Education, 6(1), 29-49.

Chen, M. (2005). Ethics: An urgent competency in financial education. Journal of American Academy of Business, Cambridge, 6(2), 74-79.

Dalkey, N., & Helmer, O. (1963). An experimental application of the Delphi method to the use of experts. Management Science, 9(3), 458-467.

Eilifsen, A., Knechel, R. & Wallage, P. (2001). Application of the business risk audit model: A field study. Accounting Horizons, 15(3), 193-207.

Elliott, R. K. (1994). The future of audits. Journal of Accountancy, 178(3), 74-82.

Elliott, R. K. (1996). Auditing Reborn. CA Magazine, 129, 36-8.

Elliott, R. K. (2002). Twenty-first century assurance. Auditing, 21(1). 139.

Garsombke, H. & Cerullo, M. (1984): Auditing advanced computer systems, The EDP Auditors Journal, 2(1): 1-11.

Holstrum, G.L.; Mock, T. J. & West, R.N. (1986): The impact of technological events and trends on audit evidence in the year 2000: Phase I, Auditing Symposium VIII. Proceedings of the 1986 Touche Ross-- University of Kansas Symposium on Auditing Problems, Lawrence, KS: University of Kansas, 125-146.

Holstrum, G. L., T.J. Mock, & West, R.N. (1988). The impact of technology on auditing: Moving into the 21st century. Institute of Internal Auditors Research Foundation, Altamonte Springs, Florida.

Humphrey, C., A. Loft, and M. Woods. (2009). The global audit profession and the international financial architecture: Understanding regulatory relationships at a time of financial crisis. Accounting, Organizations & Society, 31(6/7), 810-825.

Hunton, J. E., and J.M. Rose. (2010). 21st Century Auditing: Advancing Decision Support Systems to Achieve Continuous Auditing. Accounting Horizons, 24(2), 297-312.

Mehr, R. I., and S. Neumann. (1970). Delphi forecasting project. Journal of Risk & Insurance, 37(2), 241-246.

Melnyk, S. A., R.R. Lummus, R.J. Vokurka, L.J. Burns, and J. Sandor. (2009). Mapping the future of supply chain management: A Delphi study. International Journal of Production Research 47(16): 4629-4653.

Mock, T. J., P.R. Watkins, P. Caster, and K. Pincus. (1993). A review of the audit judgment symposium: 1983-1992. Auditing 12(2): 3.

Ogden, J. A., K.J. Petersen, J.R. Carter, and R.M. Monczka. (2005). Supply management strategies for the future: A Delphi study. Journal of Supply Chain Management: A Global Review of Purchasing & Supply 41(3): 29-48.

Rowe, G., and G. Wright. (1999). The Delphi technique as a forecasting tool: Issues and analysis. International Journal of Forecasting 15(4): 353-375.

Singh, A. J. (2005). Future events and their impact on financial management in the US lodging industry: Delphi study to predict changes in 2007 and 2027. Journal of Retail & Leisure Property 4(3): 236-254.

Vasarhelyi, M., R. Teeter, and J.P. Krahel. (2010). Audit Education and the Real-Time Economy. Issues in Accounting Education 25(3): 405-423.

Violino, B. (2004). You bought it, now audit. CFO 20(8): 17-19.

Worrell, J. L., Di Gangi, P. M., & Bush, A. A. (2013). Exploring the use of the Delphi method in accounting information systems research. International Journal Of Accounting Information Systems, 14(3), 193-208.