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DC Field | Value | Language |
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dc.date.accessioned | 2015-10-16T08:33:01Z | |
dc.date.available | 2015-10-16T08:33:01Z | |
dc.date.issued | 2012 | |
dc.identifier.uri | https://www.um.edu.mt/library/oar//handle/123456789/5571 | |
dc.description | B.ACCTY.(HONS) | en_GB |
dc.description.abstract | PURPOSE: There has been continuous change in the auditing scene, together with a revision of an array of standards affecting documentation. ISA 230, 'Audit Documentation', needed to be revised due to a number of developments, mainly due to more rigidity and consistency required of auditors in the preparation of working papers. The importance to the ever increasing requirements set out by the IAASB need to be adhered to. DESIGN: A qualitative method of research was chosen to evaluate the documentation of the external audit completion process by accountancy firms in Malta. This was done by conducting personal, detailed and in-depth interviews with a sample of nine audit firms and one sole practitioner. FINDINGS: This research concluded that the most important reasons perceived by the firms for which working papers are prepared are to provide a record of the basis for the auditor's report, to provide proof of the adequacy of the audit, and thirdly working papers serve as a helping hand in the planning, performance and supervision of the audit. The majority of the interviewed audit firms record the completion process using one document. All firms excluding the sole practitioner stated that seniors will tend to be involved more than other members of staff in the preparation of the completion process working papers. The sole practitioner prepares and reviews the work himself. The review of the completion process working papers is carried out by another engagement team member more experienced than the preparer as in the normal requirement but with more emphasis. Forms/templates for all firms are mainly in a word document and/or excel sheet, and sometimes in a power point version for the completion sub-process. All firms seem to have a very high degree of standardizati All interviewees highlighted that the majority of their files are in electronic format. Despite this, the use of paper documentation is still common but the majority of firms are trying to go paperless which would result in a much more efficient audit. CONCLUSION: The documentation of the completion process is particularly necessary to conduct an audit in accordance with ISAs and other regulatory requirements as evidence that the right opinion has been reached. IMPLICATIONS/VALUE: The findings, analysis and conclusion obtained from this study could provide an indication for audit firms to improve their own audit quality in the area covered by this thesis. | en_GB |
dc.language.iso | en | en_GB |
dc.rights | info:eu-repo/semantics/restrictedAccess | en_GB |
dc.subject | Audit firms -- Malta | en_GB |
dc.subject | Accounting firms -- Malta | en_GB |
dc.subject | Auditing -- Data processing | en_GB |
dc.title | Documentation of the external audit completion process by accountancy firms in Malta : an evaluation | en_GB |
dc.type | bachelorThesis | en_GB |
dc.rights.holder | The copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder. | en_GB |
dc.publisher.institution | University of Malta | en_GB |
dc.publisher.department | Faculty of Economics, Management and Accountancy. Department of Accountancy | en_GB |
dc.description.reviewed | N/A | en_GB |
dc.contributor.creator | Scerri, Kristine | |
Appears in Collections: | Dissertations - FacEma - 2012 Dissertations - FacEMAAcc - 2012 |
Files in This Item:
File | Description | Size | Format | |
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12BACC073.pdf Restricted Access | 2.01 MB | Adobe PDF | View/Open Request a copy |
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