scholarly journals Audit Tests and Their Impact on Fraud Detection-Case of Albania

2018 ◽  
Vol 4 (1) ◽  
pp. 79-88
Author(s):  
Mirela Ujkani Miti ◽  
Elena Myftaraj ◽  
Ueda Hajrullaj
Keyword(s):  
Financial Reporting ◽  
Primary Objective ◽  
Controversial Issues ◽  
Audit Process ◽  
Literature Study ◽  
Subject Field ◽  
The Public ◽  
High Quality Information ◽  
Illegal Acts ◽  
The Impact

Abstract For an auditor having the responsibility for the prevention, detection and reporting of fraud, other illegal acts and errors is one of the most controversial issues in auditing, and has been one of the most frequently debated areas amongst auditors, politicians, media, regulators and the public (Gay et al 1997). The primary objective of financial reporting is to provide high-quality information to financial statement users. Regarding to this, we have taken into consideration an important element, such as the audit report which provides reasonable assurance to present and potential capital providers and other stakeholders when making investments, credit decisions, and allocating resources that may enhance overall capital market efficiency. The audit engagement in Albania is based on International Auditing Standards. We have attempted to study and identify the role of audit tests, performed by auditors during the audit process, in detecting material misstatements in the financial statements, in order to obtain a more qualitative financial reporting. Through the literature study regarding the impact of audit procedures undertaken in the auditor's opinion and the evidence gathered by the questionnaire addressed to auditors in Albania, it is possible to carry out our research questions about the subject field. In conclusion, we will express our opinion about the possible suggestions that should be followed during the selection of the adequate audit test to be performed, in order to ensure the most qualitative financial reporting in Albania.

scholarly journals The Impact Of Accounting Scandals On Accounting Students

2011 ◽  
Vol 2 (6) ◽  
Author(s):  
Steven R. Jackson
Keyword(s):  
Student Perceptions ◽  
Financial Reporting ◽  
Accounting Students ◽  
Audit Process ◽  
The Public ◽  
Financial Reporting Standards ◽  
Accounting Scandals ◽  
Before And After ◽  
History Of ◽  
The Impact

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">At no other time in the history of the accounting profession has there been such an impact to the financial reporting function within the capital market structure. The institutions responsible for the financial reporting function are reeling from the fallout of these financial-reporting scandals. &ldquo;Reports on the collapse of Enron, the bankruptcy of WorldCom, and a growing list of failures and near failures have exposed massive manipulations of financial reporting by management, inexplicable breakdowns in the independent audit process, astonishing revelations of holes in our financial-reporting standards and practices, and studding lapses of corporate governance&rdquo;. (Sutton, 2002). As Sutton also points out, in this environment, investors and the public have become increasingly skeptical about a system that seems to be out of control.<span style="mso-spacerun: yes;">&nbsp; </span>The impact on perceptions of the investing public must also include students studying business and more specifically students studying accounting. This study uses a questionnaire developed by Gramling, et.al. (1996) to study the perceptions of auditing students before and after the above mentioned financial-reporting scandals. Students in two auditing classes, one before the scandals and one after, were given the questionnaire at the beginning of their auditing course. The results show a significant change in student perceptions concerning audit expectation issues after the scandals, but before they studied auditing.<span style="mso-spacerun: yes;">&nbsp; </span></span></span></p>

scholarly journals Digital Addiction: Systematic Review of Computer Game Addiction Impact on Adolescent Physical Health

Electronics ◽  
2021 ◽  
Vol 10 (9) ◽  
pp. 996
Author(s):  
Norshakirah Aziz ◽  
Md Jan Nordin ◽  
Said Jadid Abdulkadir ◽  
Muhammad Muhaimin M. Salih
Keyword(s):  
Physical Health ◽  
Computer Games ◽  
Relevant Literature ◽  
Primary Objective ◽  
Extensive Literature ◽  
Literature Study ◽  
Computer Gaming ◽  
Digital Addiction ◽  
The Impact ◽  
Malaysian Adolescents

The advancement of technology has enabled powerful microprocessors to render high-quality graphics for computer gaming. Despite being intended for leisure purposes, several components of the games alongside the gamer’s environmental factors have resulted in digital addiction (DA) towards computer games such as massively multiplayer online games (MMOG). Excessive gaming among adolescents has various negative impacts on an individual. However, only a few researchers have addressed the impact of DA on physical health. Thus, the primary objective of this research is to study the impact of DA on physical health among Malaysian adolescents. This study focuses on Malaysian adolescents of ages 12–18 years old who are addicted to computer games, specifically the MMOG. The methodology used for the study involves focus group discussions (FGD) and extensive literature study. The FGD sessions have involved both medical experts and game experts. The outcome of FGD discussion is recorded and justified with the existing relevant literature from high-impact journals, theses, conferences, books, and reports. This paper provides evidence of five physical health impacts of DA associated with adolescents. The factors of DA, the addiction components existing in MMOG computer games, and the DA health risk assessment are presented in the results section. Based on the study, it is concluded that DA among Malaysian adolescents can cause various impacts on physical health such as obesity, back pain, and neck pain, orthopaedic/joint muscle, eyesight problem, hearing problem, as well as physical inactivity.

scholarly journals Sekuritisasi China Fine Dust oleh Pemerintah Korea Selatan terhadap Tiongkok

2021 ◽  
Vol 2 (2) ◽  
pp. 111-141
Author(s):  
Eryolanda Putri Nabila
Keyword(s):  
South Korea ◽  
Analytical Framework ◽  
Political Agenda ◽  
Fine Dust ◽  
Literature Study ◽  
South Korean Government ◽  
The Public ◽  
South Korean ◽  
Political Management ◽  
The Impact

China Fine Dust issue has emerged in 2013 and increase in 2014 so that South Korea suffered from the impact. Meanwhile, China as a contributor of the haze refuses to take responsibility for tackling this issue, so that South Korea must securitize. This study aims to describe the process of securitization of China Fine Dust issue carried out by South Korea to China by using the concept of securitization by Barry Buzan as an analytical framework. The research method used is a qualitative method with a descriptive approach. The data used in this research was collected through literature study. The securitization process carried out by the South Korean Government against China began with South Korea carrying out a scientific agenda to identify a threat with China's initial involvement of 48%. Then political agenda, which are three points; influencing the public to gain support, forming a domestic emergency policy, holding a bilateral meeting to convince China to work together because domestic actions are not enough yet. The continuation of political management shows that the agenda of securitization carried out by South Korea made China accept the issue as a threat and agreed to cooperate in tackling the haze issue by releasing several projects.

XBRL Mandate and Timeliness of Financial Reporting: Do XBRL Filings Take Longer?

2018 ◽  
Vol 15 (1) ◽  
pp. 57-75 ◽  
Author(s):  
Hui Du ◽  
Kean Wu
Keyword(s):  
Multivariate Analysis ◽  
Financial Reporting ◽  
Annual Reports ◽  
Small Companies ◽  
Filing Date ◽  
The Public ◽  
Business Reporting ◽  
The Impact ◽  
Jel Classifications

ABSTRACT This study examines the impact of the Securities and Exchange Commission's (SEC) XBRL (eXtensible Business Reporting Language) mandate on the timeliness of financial reporting, measured by the reporting lag between fiscal period end and the filing date. Using annual and quarterly filing data from 2007 to 2014, we compare the reporting lags of XBRL reports to the lags of non-XBRL reports in three separate filing categories as defined by the SEC. The results show that by using XBRL the reporting lag is shortened by one to two days when companies file annual reports while the reporting lag is shortened by one day in quarterly filings. However, the results are manifest for both large accelerated filers and accelerated filers. In the multivariate analysis, we do not observe the improved reporting lag when using XBRL among non-accelerated filers. While we provide the evidence that the XBRL mandate improves the timeliness of financial reporting for large filers, we question the public policymaking of the XBRL mandate that has the intention of benefiting small companies and their investors. JEL Classifications: D83; G14; G18; M48; Z18

scholarly journals The impact of latest changes in Financial Reporting on Stakeholders’ Confidence and Satisfaction.

2021 ◽  
Vol 23 (07) ◽  
pp. 930-949
Author(s):  
Dr. Dolly Roy Choudhary ◽  
Keyword(s):  
Financial Reporting ◽  
Information Needs ◽  
Financial Statements ◽  
General Purpose ◽  
Corporate Disclosure ◽  
The Public ◽  
Common Information ◽  
External Stakeholders ◽  
Important Input ◽  
The Impact

This paper focuses on how the latest changes in corporate financial reporting have an impact on the stakeholders i.e. the shareholders, employees, management, creditors, auditors, suppliers, and the public in general. Financial information serves as an important input and guides for informed decision-making in an economic environment. The financial statements are one of the most important bases on which the internal and external stakeholders reach effective decisions. The idea of “General Purpose Financial Reporting” is directed to the common information needs of users and stakeholders. This study attempts to assess whether the stakeholder’s confidence and satisfaction are enhanced by the nature and extent of information that is made available to the stakeholders and the practices of corporate disclosure in annual accounts.

scholarly journals The Influence of Internal Controls on Public Financial Reporting Quality (PFRQ) in Sri Lanka; an Empirical Study

2021 ◽  
Vol 06 (07) ◽  
Author(s):  
Anuruddha, M.S. ◽  
Keyword(s):  
Sri Lanka ◽  
Financial Reporting ◽  
Central Government ◽  
Good Governance ◽  
Reporting Quality ◽  
Internal Controls ◽  
Financial Reporting Quality ◽  
Control Environment ◽  
The Public ◽  
The Impact

Public financial reporting is accountable to maintain public trust by protecting the accountability, openness, and transparency of public money which leads to the good governance of the country. There were many criticisms over financial reporting quality by various stakeholders of entities across the countries. There is a growing concern over the quality of PFR which determines the level of performing expectations of financial reporting. Assurance of PFR in Sri Lanka has deteriorated and been questioned by legislative authorities and interested parties because of the quality concerns. Considering the scholarly studies in various countries, the study was carried out in Sri Lanka to investigate the influence of Internal Controls (ICs) over the Public Financial Reporting Quality (PFRQ) with an objective to measure and conclude the determinants. To conclude the impact, the study investigates the influence of five basic dimensions of ICs introduced in previous literature, namely: Control Environment, Risk Assessment, Control Activities, Information & Communication, and Monitoring. Considering the facts of the context of Sri Lanka, the research has investigated the influence of IC on public financial reporting quality in the central government ministries and departments environment in Sri Lanka. The primary data was collected by a questionnaire survey conducted with accountants who are being employed in the central government ministries and departments in Sri Lanka. Data have collected by a structured questionnaire and verified by Cronbach’s alpha test for reliability. A multiple linear regression model was developed and tested to determine the statistical influence of variables of IC over the dependent PFRQ. The findings investigate and conclude the positively significant influence of IC on the PFRQ in the central government ministries and departments in Sri Lanka. Further, it was admitted the significant direct influence of IC attributes of Control Environment, Information and Communication and Monitoring to determine the PFRQ. Based on the facts, the study recommends the public sector in Sri Lanka to ensure the effectiveness of ICs in government institutions to improve and maintain the trust level of PFRQ.

scholarly journals British-Qualified Accountants Outside the UK: Post-Brexit Case

2021 ◽  
Vol 16 (1) ◽  
pp. 159
Author(s):  
Ousman Jallow ◽  
Zaenal Fanani ◽  
Hamidah Hamidah
Keyword(s):  
European Union ◽  
Financial Reporting ◽  
Primary Objective ◽  
Professional Standards ◽  
Research Articles ◽  
Secondary Source ◽  
Medium Term ◽  
Seamless Transition ◽  
The Uk ◽  
The Impact

This study aims to explore the impact of Brexit on the employment of accountants and auditors who already had a UK qualification. This study also assesses if they will be allowed to work outside the UK after Brexit. This study used data collected through interview and collation of previous research articles, reports magazine, and other secondary source of data. Results revealed that auditors and accountants might be potentially affected negatively by a change in their capacity to carry out audits and accounting service across borders, as the number of those who carry out such work may be quite small. This paper hopes to serve as a useful insight for stakeholder discussions, such as practitioners and standard setters, and in making decisions on strategy in the medium term and the regulation of the accountancy and audit profession post-Brexit. As the shape of Brexit becomes more explicit, the Financial Reporting Council's primary objective is to have a seamless transition and a continuation of high professional standards and a properly functioning audit and accountancy profession. Keywords: Brexit; Accountants; European Union; United Kingdom

scholarly journals The impact of IAS 36 on equity values: Empirical evidence from UAE

2016 ◽  
Vol 13 (2) ◽  
pp. 49-54
Author(s):  
Yousef Shahwan ◽  
Jamal Roudaki
Keyword(s):  
Empirical Evidence ◽  
Information Content ◽  
Financial Reporting ◽  
Market Valuation ◽  
Controversial Issues ◽  
Equity Values ◽  
Market Values ◽  
Equity Value ◽  
The Impact

Amortization requirement of goodwill asset is one of the most controversial issues in financial reporting. This study provides empirical evidence on whether goodwill amortization has significant impact on equity value. It analyses the information content of goodwill amortization in the determination of firm’s market valuation by Emirates Financial Market Listed companies that clearly reported goodwill amortization over the period 2003 to 2012 inclusive. Evidence suggests that there is a statistically significant association between equity market values and goodwill amortization in the determination of firms’ market valuation, concluding that the UAE market perceives goodwill amortization as having information content when valuing firms and the use of standardized amortization requirement may be appropriate.

The Impact of Audit Committee Information Technology Expertise on the Reliability and Timeliness of Financial Reporting

2019 ◽  
Vol 95 (5) ◽  
pp. 23-56 ◽  
Author(s):  
Musaib Ashraf ◽  
Paul N. Michas ◽  
Dan Russomanno
Keyword(s):  
Information Technology ◽  
Financial Reporting ◽  
Fixed Effects ◽  
Audit Committee ◽  
Data Availability ◽  
Audit Committees ◽  
Material Weaknesses ◽  
Other Information ◽  
High Quality Information ◽  
The Impact

ABSTRACT We examine whether information technology expertise on audit committees impacts the reliability and timeliness of financial reporting. We find a reduction in the likelihood of material restatement, a reduction in the likelihood of information technology-related material weaknesses (which account for 55 percent of all reported material weaknesses), and more timely earnings announcements at firms with audit committee information technology expertise. These findings are robust to controlling for a firm's other information technology attributes, as well as when using entropy balanced samples, and we mitigate endogeneity concerns with evidence that our findings hold in a subsample of firms that all possess overall high-quality information technology. Finally, a difference-in-differences analysis, inclusion of firm fixed effects, and a falsification test largely support our assertion that the quality of financial reporting is significantly improved by the presence of an audit committee information technology expert. JEL Classifications: M41; M15. Data Availability: All data used in the study are publicly available.

scholarly journals PENGARUH KODE ETIK, MATERIALITAS AUDIT DAN RISIKO AUDIT TERHADAP OPINI AUDITOR

2019 ◽  
Vol 9 (1) ◽  
pp. 63-82
Author(s):  
Cholifah Husti Laila ◽  
Novita Novita
Keyword(s):  
Business Ethics ◽  
Partial Least Square ◽  
Least Square ◽  
Audit Process ◽  
Audit Risk ◽  
The Public ◽  
Public Accountants ◽  
Questionnaire Method ◽  
The Impact ◽  
Public Accountant

This research aims to make case analyze the impact of business ethics, level of audit materiality and audit risk towards auditor opinion. For public accountant engaged in assurance services. The result expected to contribute to the audit process of the client's financial statements in order to improve the performance of public accountants and achieve the goals of public accountants.              The respondents that used in this research are the public accountant who works in public accountant firms. Data was collected using a questionnaire. Method verification analysis was used to test hypothesis and structural modeling with Partial Least Square application that is SmartPLS 3rd version.              Result of this research reveals that of the three variables; business ethics, audit materiality, and audit risk, only audit risk that does not have a significant effect on auditor opinion. Audit risk does not have a significant effect on auditor opinion because the public accountant feels a lot and complexity of the data that the auditor must examine and the component influences audit risk. Keywords: ethics, materiality, risk, auditor opinion. 

Sign in / Sign up

Export Citation Format

Share Document