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Literature review sample - Challenges in Auditing
Finance & Accounting
Pages 4 (1004 words)
Finance and Accounting Table of Contents Introduction 3 Review 3 Conclusion 6 Reference List 7 Introduction The audit profession has entered a new and fresh field in the assurance services. The changes are made in the traditional financial audits and new domains are provided to elevate the levels of assurance for the users of information and decision makers…
According to Power (1997, cited in Free, Salterio and Shearer, 2009) auditing can be described as both operational and programmatic elements. The programmatic elements relate to the concepts and ideas that make practice and policy objectives that are existent in the political arena. Goals are formulated with the practices for the levels of programs. These levels are defined when audits are required by the regulatory agencies. The operational elements refer to the concrete routines and tasks that are practiced by the practitioners worldwide. Review The global audit regulatory system is dynamic that includes a number of organizations, which compete among them. Such competition is reflected in the range of actions from political lobbying process to policy publication papers and submission of those papers to the committees. During the period of financial crisis, it is hard to find papers that are audited by the large firms, national audit boards and the professional bodies. Another problem related to the financial crisis is that, the process in which the assurance operation is carried out and enacted (Kornberger, Justesen and Mouritsen, 2011). Audits aims at drawing general conclusion from the studies that are made regarding a topic. ...
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