The Importance of Auditing Quality
Audit quality is critical for financial markets to function smoothly and importance of audit quality in the audit process outputs, represented by the auditors ' report, which a lot of external users relied upon in the decision-making quality, so the quality of the audit is a common interest to all users of the audit process , including references, companies and administrations, associations and institutions the organization of the profession and creditors. In addition to the above, the adoption of a system to control the quality of the audit can bring many advantages and features giving proper confirmation that the services performed by the auditors in offices audited, line with professional requirements and
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Audit expectations gap Commission (Cohen, 1978) concluded after studying continued four years to find out responsibilities of auditors that there are important expectations of the performance of auditors gap and expectations of users of financial statements about the performance of auditors and their responsibilities adversely affects auditing quality, and the Commission found that the responsibility lies with the auditors to reduce that gap.
Definitions: There are many definitions relevant on audit expectation gap but it revolves around one idea which is the difference or the difference between what he is doing or what can be done by auditors and what should be, or expected to be undertaken by auditors on the basis of society 's expectations required of them. (Aljaaidi, 2009). Liggio (1974a) defines it as the difference between the levels of expected performance as envisioned by the independent accountant and by the user of financial statements, through considering whether a gap may exist between what the public expects or needs and what auditors can and should reasonably expect to accomplish.
Porter (1993) carried out an empirical study of the audit expectation-performance gap and defined the expectations gap as the gap between society 's expectations of auditors and auditors ' performance, as perceived by
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• The focus of comparative analysis of audit expectation gap is attempted by considering accountants and auditors, the perceptions of society and auditors, investors and auditors (Salehi, 2011).
2.4. The structure of components the expectations gap in auditing
Some studies confirm that should blame for auditors because they not meeting users ' expectations. Auditors had long been asked to detect errors or frauds. To a large extent, the profession 's refusal of performing the fraud detection duties had fueled the 'expectation gap. and confirms that the 'expectation gap ' is an outcome of the contradiction of minimum government regulation and the profession 's self-regulation, especially, the profession 's over-protection of self-interest which has widened the 'expectation gap (Lin & Chen, 2004).
To knowledge of structure of the expectations gap components will help in reaching a correct understanding of the nature of the gap which helps to narrow it. But as researchers and scholars disagreed gap expectations of access to a specific concept for the gap expectations also differed in determining the structure of the components of the expectations gap
4. External audits are performed by Third party agent or outside agents. 5. Audit is performed by an organization free from customer supplier
However, internal audits show findings and recommendations which act as a tool for department heads to take suitable corrective action and help in plugging the loopholes which would otherwise go undetected for a considerable period of time. The external audit lends credibility to the financial reporting process of state and local governments, and an essential element of that process is the independence of the external auditors from the governments they are auditing. Otherwise, those who use governmental financial statements cannot rely on the integrity and objectivity of the auditors’ report.
These individuals would be more likely to question such issues that are being
Case in point, not everyone in the public arena, particularly individualistic social orders, for example, America and Britain will have the capacity to get to higher gauges of training in view of the expense it involves. Predictably then this becomes a handicap in attaining success as one is lacking the institutional means needed. It then follows, the absence of accomplishment in the general public that physically compensates achievement,
so we, as the reader, feel more inclined to believe that Waldroff is truly providing information that will make an impact. One example of an accredited source, taken from early on in the article, “Some of this divide is a matter of perception,” says Tania Israel, Ph.D., professor of counseling psychology at the University of California, Santa Barbara, and author of Beyond Your Bubble, a book about connecting across
I can simply answer because I want to be a hero. In my opinion, an auditor is a dark knight that saves the world secretly and silently. An auditor has to commit to do his job professionally as well as ethically. As a matter of fact, there have been many corporate and accounting frauds, such as the WorldCom scandal in 2002 and the Madoff Ponzi scheme in 2008,
We should help student to use those resource and to narrow the information gap. I believe education can bring us a bigger vision of the world so I do agree that the key to narrow down the gap between the rich and poor is education. If we want to reduce the college gap, we should let everyone have the same right to get education without considering financial issue. The true is, however, the tuitions of the top college are very expensive and the academic qualified poor students cannot afford it even they have student aid.
In most cases, health care disparity research involves individual efforts, with minimum supervision and guidelines or regulations except when funded by the state or an organization. Quality health care, on the other hand, is a requirement of the State; hence, in most cases, government agencies and/or commissions, such as Joint Commission Accreditation, Health Care, Certification (JCAHO), supervise and regulate QI through a number of policies. Therefore, health disparities and QI is often highly organized with expected outcomes and means of evaluating the level of intended results achievement. However, in Health disparities research, emphasis on output is minimal compared to
Throughout the case, it can be seen how Cendant Corporation was performing activities that dealt with the interactions of income smoothing. The main cause of performing with Income Smoothing was to make their shareholders and investors believe that they had a professional and ethical operation running. Income smoothing can best be represented as how either gains or losses from a certain period are taken into a good or bad period with losses or no profits. Income smoothing throughout this case was used as an unethical practice performed by Cendant Corporation to achieve financial stability and falsify numbers to make the investors believe they had premium stocks when in reality it wasn’t what was really occurring which would then lead to the
Despite some improvements, health disparities have remained and, in some cases, broadened, hence, the reason for a plan
According to Baldwin (2003) health care disparities are the differences in health and health care between population groups including race, socioeconomic status, age, location, gender, disability, and sexual orientation. Disparities limits the improvements of quality health care which could result in unnecessary health care expenses. Factors that are contributing to disparities within today’s society are lack of access to quality health care and the number of individuals who are uninsured. As the population continue to grow and become more diverse health care disparities will continue to increase.
Kaiser Family Foundation (2012), health and health care despairs refer to differences in the health and health care between population groups. The health disparity generally refers to a higher burden of illness, injury, disability, or mortality experienced by one population group relative to another. A health care disparity typically refers to the differences between groups in health coverage, access to care, and quality of care. While disparities are commonly viewed through the lens of race and ethnicity, they occur across many dimensions, including socioeconomic status, age, location, gender, disability status, and sexual orientation (HKFF,
1. What does the term health disparities mean? Health disparities are preventable differences in the burden of disease, injury, violence, or opportunities to achieve optimal health that are experienced by socially disadvantaged populations. Populations can be defined by factors such as race, ethnicity, gender, education, or income, disability, geographic location orientation.
Employees will seek out answers about their current skills, skills required for the job, and the gap between employee’s current skills and job required
Professional skepticism depends on the personal behavioral actions. The need for professional skepticism in an audit cannot be overemphasized. Professional skepticism is an essential part of the auditor 's skill and is very closely interrelated to the concept of auditor independences and professional judgement and contributes to audit quality. In addition to professional skepticism is important and required throughout the audit in engagement acceptances, identifying and assessing risks of material misstatement, designing the nature, timing and extent of further audit procedures that are responsive to assessed risks of material misstatement, and evaluating audit evidence, and forming an opinion on whether the financial statements are prepared, in all material respects, in accordance with the application financial reporting framework.