Work

The Current State and Future of the Audit Profession

Year: 2014

Type: article

Abstract: SUMMARY Audited financial statements are intended to be timely and useful in decision making. To remain a valuable and relevant service, auditing must find a way to evolve. This paper summarizes a recent study (“The Future of Audit,” Lombardi, Bloch, and Vasarhelyi [2014]), which conducts an interactive forecasting method to gain expert consensus on the current state of the auditing profession and on how the profession will evolve over the next decade. Expert consensus emerging from the study includes increasing automation of audit procedures, more predictive financial statements, continuous auditing, and maintaining a global outlook on audit transactions. Data Availability: Please contact the corresponding author for data.

Source: Current Issues in Auditing

DOI: 10.2308/ciia-50988

Authors: Danielle R. Lombardi, Rebecca Bloch, Miklos A. Vasarhelyi

Institutions: Rutgers, The State University of New Jersey, Fairfield University, Villanova University

Language: English

Topic: Auditing, Earnings Management, Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: bronze

OpenAlex ID: W2152125287

FWCI: 5.667

Cites: 16

Cited by: 42

Related to: 10