It is not sufficient just to make the decision to implement just‐in‐time (JIT) and then let events run their course. It is important also to have in place an auditing procedure that can monitor that JIT is being implemented efficiently and correctly. These procedures should ideally monitor...

The financial audit has two components: the statutory audit (mandatory for certain companies) made by financial auditors and the optional audit which can be done by other professionals (chartered accountants, evaluators, and tax matters members). The statutory audit represents the examination...

Evidence of audit committee activity in the formative years of the Baltimore & Ohio (B&O) Railroad indicates that control and reporting activity developed long before the existence of regulatory mandate or the external auditing function. This is the earliest example of such an organized and...

Chaos theory has universal significance. It has entered into management thinking, implicitly rather than explicitly, as seen in works such as Schon′s Beyond the Stable State , Toffler′s Future Shock and Peters′ Thriving on Chaos . An attempt is made to relate chaos theory to auditing and...

A rationale for including operational auditing as a major component in the primary auditing course, as well as in subsequent courses, in the auditing curriculum is developed. Reports and statements from professional groups and commissions, together with accounting education literature, provide a...

Based on a survey of US colleges and universities and reports the scope of operational auditing in these institutions. As a part of this study two hypotheses are formulated and tested to determine whether: (1) the scope of operational auditing differs between private and public institutions; and...

Discusses the importance of operational auditing and the crucial role of internal control in the audit process, providing a brief history of the beginnings of operational auditing and describing the recent report issued by the Committee of Sponsoring Organizations of the Treadway Commission...

Society′s recognition of the importance of internal auditing has increased in recent years. This has resulted in an increased recognition of the need for improving and formalizing the manner in which internal auditors are educated. Suggests some of the forces that have led to this increased...

Explores the state of the art in internal auditing risk assessment techniques by reviewing professional requirements as stated in Statement of Internal Auditing Standards (SIAS) No. 9 and then examining and discussing currently available risk assessment techniques. Models explored in the study...