The audit process, which can be considered the systems and methods an auditor uses in order to gather sufficient audit evidence, this can vary from firm to firm as well as auditor to auditor (Manita & Elommal, 2010). The main factors that will influence the audit process will be how compliant the audit teams are regarding the auditing standards, laws and control procedures, the level of interaction between the audit team and relevant parties, and finally the amount of appropriate audit documentation (International Federation of Accountants, 2013). These factors also impact audit quality through how appropriate audit evidence is gathered and processed.
Outputs are also important in the balance of audit quality, as they can be easily influenced …show more content…
Interactions have a direct impact on audit quality through effects on the three core factors, as they cannot be achieved without interactions with relevant parties, e.g. the auditor and users, to determine what the users desire in an assurance report (International Federation of Accountants, 2013). The stakeholders can also influence the level of audit quality through how they interact with auditors, if they fail to properly state what they desire, or fail to cooperate with auditors, it will lead to a low level of audit quality.
In order for audit quality to be high, the contextual factors should also be taken into account to ensure that the result of the audit is actually relevant and comparable to other audits to provide a sense of comparability, for example the adoption of technology by both audit firms and end users has shifted auditing processes towards more computerisation compared to traditional methods (Curtis & Elizabeth, 2008).
In this model we can see how audit quality is influenced by more than just the auditor, but rather audit quality is influenced by the level of quality of inputs, processes, outputs and interactions between the auditor and stakeholders, while also accounting for the contextual factors of the …show more content…
From the audit quality model, we can see how stakeholders can influence the audit quality, through context, inputs and interactions with the auditor, however at the end of the day it is the final responsibility of the auditor to ensure they reach a high level of audit quality through properly identifying the factors that the stakeholders can influence negatively and addressing them appropriately with their personal professional judgement in order to achieve a quality
Outputs are also important in the balance of audit quality, as they can be easily influenced …show more content…
Interactions have a direct impact on audit quality through effects on the three core factors, as they cannot be achieved without interactions with relevant parties, e.g. the auditor and users, to determine what the users desire in an assurance report (International Federation of Accountants, 2013). The stakeholders can also influence the level of audit quality through how they interact with auditors, if they fail to properly state what they desire, or fail to cooperate with auditors, it will lead to a low level of audit quality.
In order for audit quality to be high, the contextual factors should also be taken into account to ensure that the result of the audit is actually relevant and comparable to other audits to provide a sense of comparability, for example the adoption of technology by both audit firms and end users has shifted auditing processes towards more computerisation compared to traditional methods (Curtis & Elizabeth, 2008).
In this model we can see how audit quality is influenced by more than just the auditor, but rather audit quality is influenced by the level of quality of inputs, processes, outputs and interactions between the auditor and stakeholders, while also accounting for the contextual factors of the …show more content…
From the audit quality model, we can see how stakeholders can influence the audit quality, through context, inputs and interactions with the auditor, however at the end of the day it is the final responsibility of the auditor to ensure they reach a high level of audit quality through properly identifying the factors that the stakeholders can influence negatively and addressing them appropriately with their personal professional judgement in order to achieve a quality