scholarly journals Covid-19 and Auditing

2021 ◽  
Vol 6 (1) ◽  
pp. 1-10
Author(s):  
Emmanuel John Kaka
Keyword(s):  
Public Interest ◽  
Secondary Data ◽  
Professional Associations ◽  
Financial Statements ◽  
Information Gathering ◽  
New Developments ◽  
The Public ◽  
The Face ◽  
Audit Reports ◽  
The Impact

COVID-19 has affected the way and manner financial statements are prepared, and audit engagement, information gathering and reporting. the aim of the paper is to highlights some of the practical challenges auditors may face in auditing financial statements of an organization in the light of COVID-19 and areas to put more emphasis on their audit reports. The documentary research design was employed and secondary data were collected and used for this research. The paper found out that professional associations, accounting, and auditing bodies are monitoring issues and situations as they unfold that may affect the financial statements and audit reports due to the impact of COVID-19. Moreover, they are ready all the time to issue out additional guidelines as new developments unfold, and continue to update professional accountants on issues pertaining to the continuity of the organization businesses, workforce, economic impacts, and other resources to help their members serve their clients better in this period of the pandemic. The paper recommends that auditors are expected to display enough professional skepticisms and judgments and be focus on public interest and ethical responsibilities bestowed on them, and continue to apply the principles contain in the auditing standards fully, as well as comply with the fundamental principles of competence, independence, integrity, objectivity, confidentiality, care and skills, and behave professionally, as keys that will preserve and expands auditors trust in the face of the public.

Particularities of the independent auditor's report on reliability of accounting (financial) statements for 2019: COVID-19 as qualitatively essential information (Part 2)

2020 ◽  
Vol 23 (7) ◽  
pp. 777-799
Author(s):  
O.I. Shvyreva ◽  
Z.I. Kruglyak ◽  
A.V. Petukh
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Economic Situation ◽  
Risk Disclosure ◽  
Essential Information ◽  
Logical Method ◽  
Annual Reporting ◽  
The Face ◽  
Key Aspects ◽  
The Impact

Subject. This article discusses the issues related to the practice of financial reporting in the face of uncertainties caused by the coronavirus contagion, as well as the specifics of the audit strategy and formation of an audit opinion on this reporting. Objectives. The article aims to identify the quality characteristics of financial reporting prepared in the context of the COVID-19 pandemic and justify the key aspects of assurance engagement completion in an extremely uncertain epidemiological and economic situation. Methods. For the study, we used an abstract-logical method, content analysis techniques, systematization, and classification. Results. Analyzing the impact of the extremely uncertain epidemiological and economic situation on financial statements, the article clarifies aspects of disclosure of events after the reporting date and threats to business continuity in the annual reporting of economic entities. The article identifies possible alternative procedures and algorithms to obtain proper evidence when it is insufficient in the face of the inability to meet certain audit standards requirements in a remote audit environment. The article defines the impact of COVID-19 risk disclosure on the structure of the audit report and opinion. Relevance. The results of the study can be used in the practical activities of economic entities that prepare financial statements in the face of significant uncertainty, as well as auditors and audit organizations.

Freedom of Expression versus Privacy and the Right to Reputation

2017 ◽  
Author(s):  
Dirk Voorhoof
Keyword(s):  
Public Interest ◽  
Freedom Of Expression ◽  
Media Freedom ◽  
Investigative Journalism ◽  
The Public ◽  
The Right Of Privacy ◽  
The One ◽  
Grand Chamber ◽  
The Right ◽  
The Impact

The normative perspective of this chapter is how to guarantee respect for the fundamental values of freedom of expression and journalistic reporting on matters of public interest in cases where a (public) person claims protection of his or her right to reputation. First it explains why there is an increasing number and expanding potential of conflicts between the right to freedom of expression and media freedom (Article 10 ECHR), on the one hand, and the right of privacy and the right to protection of reputation (Article 8 ECHR), on the other. In addressing and analysing the European Court’s balancing approach in this domain, the characteristics and the impact of the seminal 2012 Grand Chamber judgment in Axel Springer AG v. Germany (no. 1) are identified and explained. On the basis of the analysis of the Court’s subsequent jurisprudence in defamation cases it evaluates whether this case law preserves the public watchdog-function of media, investigative journalism and NGOs reporting on matters of public interest, but tarnishing the reputation of public figures.

Cohabitants, Choice, and the Public Interest

2018 ◽  
Author(s):  
Robert Leckey
Keyword(s):  
Social Change ◽  
Public Interest ◽  
Intimate Relationships ◽  
Family Law ◽  
Regulatory System ◽  
Law Reform ◽  
Private Law ◽  
The Public ◽  
System P ◽  
The Face

Through the narrow entry of property disputes between former cohabitants, this chapter aims to clarify thinking on issues crucial to philosophical examination of family law. It refracts big questions—such as what cohabitants should owe one another and the balance between choice and protection—through a legal lens of attention to institutional matters such as the roles of judges and legislatures. Canadian cases on unjust enrichment and English cases quantifying beneficial interests in a jointly owned home are examples. The chapter highlights limits on judicial law reform in the face of social change, both in substance and in the capacity to acknowledge the state's interest in intimate relationships. The chapter relativizes the focus on choice prominent in academic and policy discussions of cohabitation and highlights the character of family law, entwined with the general private law of property and obligations, as a regulatory system.

Human rights restrictions during the COVID-19 pandemic in Poland and Russia. Legal and comparative aspects

2021 ◽  
Vol 2(24) ◽  
pp. 323-340
Author(s):  
Marta Pietras-Eichberger
Keyword(s):  
Public Health ◽  
European Union ◽  
Human Rights ◽  
Public Interest ◽  
The European Union ◽  
Human Rights Law ◽  
The Public ◽  
Safety And Health ◽  
Research Problems ◽  
The Impact

The study analyzed selected issues related to the scope of human rights and freedoms during the COVID-19 pandemic in Poland and Russia. The author wanted to compare the regulations issued by a Member State of the European Union and a country outside the European Union, often using undemocratic methods of exercising power. The work focuses on research problems related to the principles of protection, the confrontation of individual interests with the public interest, and the impact of the regimes introduced during the COVID-19 pandemic on human rights law in both countries. The thesis of the study is that in the event of a threat to public health, analogous restrictions on human rights are introduced both in an undemocratic country and in a country belonging to international structures identifying with democratic values. The state of the COVID-19 pandemic has exposed, and in some area even contributed to the creation of mechanisms reserved for crisis situations, posing a direct and real threat to public safety and health.

Accounting Reliability Concept: Audit Practices

Auditor ◽  
2021 ◽  
pp. 33-39
Author(s):  
Zoya Boginskaya ◽  
Tatyana Gladkova
Keyword(s):  
Financial Statements ◽  
Audit Reports ◽  
The Impact

Practical aspects of applicable concepts for the preparation of reliable financial statements are analyzed, in particular, an overview and analysis of typical errors encountered in the practice of auditing accounting statements. Theoretical aspects of qualification and interpretation of errors in relation to changes of relevant documents regulating audit are considered; a list of typical errors made during the preparation of financial statements for 2018-2020 is indicated; the actions of the auditor in relation to the identified errors are formulated; analysis of the impact of errors on the auditor’s opinion on the reliability of accounting statements in audit reports.

Does Investment-Related Pressure Lead to Misreporting? An Analysis of Reporting Following M&A Transactions

2012 ◽  
Vol 87 (3) ◽  
pp. 839-865 ◽  
Author(s):  
Daniel A. Bens ◽  
Theodore H. Goodman ◽  
Monica Neamtiu
Keyword(s):  
Financial Reporting ◽  
Large Body ◽  
Financial Statements ◽  
Probability Of Detection ◽  
Data Availability ◽  
The Public ◽  
Announcement Returns ◽  
Reporting Decisions ◽  
The Face ◽  
Near Term

ABSTRACT This study examines whether managers alter their financial reporting decisions in the face of investment-related pressure. We define investment-related pressure as the increased pressure managers feel to retain their job following an M&A poorly received by the market. We hypothesize that managers attempt to assuage pressure by delivering strong performance post-merger, creating incentives for misreporting. Our findings indicate that acquirers with more negative M&A announcement returns are more likely to misstate financial statements in the post-investment period and the issuance of misstated financials mitigates this pressure, at least in the near term. Our study contributes to the literature on the relation between corporate investing and financial reporting by showing how investment-related pressure leads to misreporting, even in a setting where the costs (e.g., greater probability of detection) are high. Our study also has implications for the large body of research that evaluates various consequences of M&As using post-merger performance. Specifically, researchers should be careful to distinguish real from misstated financial performance in the post-investment period. Data Availability: Data are available from the public sources indicated in the text.

scholarly journals Issues related to the regulation of the content of the audit reports

2021 ◽  
pp. 77-89
Author(s):  
Irina V. Panina
Keyword(s):  
Public Interest ◽  
Financial Statements ◽  
Information Value ◽  
Public Utility ◽  
International Standards ◽  
Federal State ◽  
State Control ◽  
Federal Law ◽  
Audit Reports ◽  
Laws And Regulations

Introduction. Currently, the procedure for providing audit services to public interest entities is being reformed. The main goal of these reforms is to provide more effective protection of legally protected values associated with the activities of such economic entities. The changes also apply to the content of audit reports on their financial statements. The process of revising the relevant regulatory document is still ongoing. Not all of the revised provisions are consistent with each other and the International Standards on Auditing. This will complicate their practical application by auditors and affect the informational value and public utility of audit reports. In addition, since 2017, when the modern format for audit reports was adopted, its application has revealed shortcomings in terms of its content and terminology. This explains the need to develop proposals to eliminate these “sticking points” when regulating the content of the auditor's report. Purpose. The development of recommendations to harmonise the provisions of laws and regulations governing the content of audit reports and federal state control (supervision) of the activities of audit organisations providing services to public interest entities with the International Auditing Standards in order to increase the information value of audit reports. Methods. The research results were obtained using analysis, synthesis, analogy, historical and logical approaches, classification, etc. Results. It was proposed to introduce changes to the text of the Federal Law “On Auditing Activities” of 30.12.2008 No. 307-FZ in order to eliminate contradictions in its provisions regarding the content of audit reports, to ensure their consistency with the International Standards on Auditing and laws and regulations in the field of controlling the activities of audit organisations that provide audit services to public interest entities. The content of the requirements of the International Standards on Auditing regarding the content of audit reports was clarified as well as their official translation into Russian to make the documents more informative and easy to use. Conclusions. The proposed clarifications can be taken into account when making changes to the texts of the Federal Law “On Auditing Activities”, the original version of the International Standards on Auditing and its official translation. They can also be further discussed by specialists.

scholarly journals The Effect of Independence and Integrity on Audit Quality: Is There A Moderating Role for E-Audit?

2021 ◽  
Vol 23 (3) ◽  
Author(s):  
Diza Dianeke Budi Prabowo ◽  
Dwi Suhartini
Keyword(s):  
Industrial Revolution ◽  
Audit Quality ◽  
Practical Implication ◽  
Financial Statements ◽  
Auditor Independence ◽  
Audit Process ◽  
Accounting Firms ◽  
Audit Reports ◽  
The Impact

The financial statements must be reliable and become a benchmark in considering an audit decision on the financial statements. In order for this to be achieved, independence and integrity is required in carrying out the audit process. E-Audit helps overcome challenges in the industrial revolution 4.0 and prevent fraud. This research aims of testing and analyzing the role of e-audit in moderating the impact of auditor independence and integrity on audit quality. The data was collected through a questionnaire distributed to auditors at Public Accounting Firms in Surabaya. There are 36 respondents involved. The data were analyzed using SmartPLS. The results showed that auditor independence positively effect audit quality, auditor integrity positively effect audit quality; e-audit does non moderate the effect of auditor independence on audit quality; ande-Audit negatively moderates the effect of auditor integrity on audit quality. The practical implication of this research is that when determining high audit quality, independent auditors should at least increase their independence and integrity so that the resulting audit reports are of high quality and can be a reference for decision makers.

scholarly journals The impact of globalization on Workers: an Analysis of Nigerian Public Service

2018 ◽  
Vol 7 (3.30) ◽  
pp. 480
Author(s):  
Aminu Mohammed Lawan ◽  
Razlini Mohd Ramli
Keyword(s):  
Information And Communication Technology ◽  
Communication Technology ◽  
Public Service ◽  
Secondary Data ◽  
The Public ◽  
Public Corporations ◽  
Public Servant ◽  
Information And Communication ◽  
The Right ◽  
The Impact

Globalization is the increasing interaction of peoples, states or countries through the growth of the global trade, international flow of capital, ideas and culture. The paper discusses how privatization of public corporations and invention of information and communication technology (ICT) lead to the retrenchment and casualization of public servant. The aim of this study is to examines the impact of globalization on the public servant in Nigeria. The methodology involves the use of secondary data, through a systematic literature review which entails the document analysis of related matters. The findings reveal that globalization infringes on the right of a public servant by making them vulnerable without job security. The paper concludes that government must stop unfair labor practice such as retrenchment and casualization of workers, and improve good working conditions to make public servant more productive. 

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