Absent regulatory requirements, 64% of small private commercial banks voluntarily procured an independent audit in our dataset. Hence, it can be argued that an independent audit may have a perceived value. In our study, we examine whether the decision to procure an audit is systematic. First, we...

Researchers have found that the volume of exceptions generated by a continuous auditing system can be overwhelming for an internal audit department to investigate. In this paper, we propose a framework that systematically prioritizes exceptions based on the likelihood of an exception being...