Writing a thesis, especially on a complex topic like External Audit, presents a multitude of challenges

that can be daunting for even the most diligent of students. It requires a deep understanding of
auditing principles, the ability to analyze financial statements, and the skill to assess compliance with
applicable laws and regulations. Moreover, students must be able to conduct extensive research,
synthesize large volumes of data, and present their findings in a clear, concise, and compelling
manner.

One of the primary difficulties in writing an External Audit thesis lies in the need to understand and
apply complex auditing standards and methodologies. This often involves a steep learning curve, as
students must become familiar with professional auditing practices, including risk assessment,
internal control evaluation, and the verification of financial information. Additionally, they must stay
abreast of the latest developments in auditing standards and regulatory requirements, which can
change frequently.

Another significant challenge is the research component. Conducting research for an External Audit
thesis involves not only gathering data from a wide range of sources but also critically analyzing this
information to draw meaningful conclusions. This requires strong analytical skills, as well as the
ability to discern relevant information from a vast array of potential data points. Moreover, students
must navigate the ethical considerations inherent in auditing work, ensuring that their research and
analysis are both objective and unbiased.

Given these challenges, it is not surprising that many students feel overwhelmed by the prospect of
writing an External Audit thesis. The time commitment alone can be considerable, requiring months
of dedicated effort to complete. This is particularly problematic for students who may have other
responsibilities, such as coursework, employment, or personal commitments.

For those struggling with the demands of their External Audit thesis, seeking professional assistance
can be a wise decision. One service that comes highly recommended is ⇒ HelpWriting.net ⇔. This
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Now emerging technologies like AI and robotic process automation RPA are further making their
way into internal audit. The Shrewsbury and Telford Hospital NHS Trust August 2007. AUDIT.
Content. The contacts at KPMG in connection with this report are. The traditional Jones model
could be less applicable to companies with extreme cash flows (Piot and Janin, 2007). In contrast,
external audit appeared to be a significant factor behind abnormal accruals. However, some evidence
exists supporting the positive influence of firm size (Reddy et al., 2010; Al-Matari et al., 2012; Bauer
et al., 2010). No effect on earnings management was found by Xie et al. (2003), Lin et al. (2006),
and Abbott et al. (2004). Scholars can use them for free to gain inspiration and new creative ideas for
their writing assignments. In contrast, Hsu and Petchsakulwong (2010) reported a negative
relationship between the variables. The organization can use the results from the internal audit to
identify its weaknesses and work to correct or strengthen them in preparation for the external audit
where the results will be shared publicly. PhD A comparative study of the auditing differences
between private and public organizations in the UK Consult Our Writers to Discuss Your Needs
WhatsApp Us Chat With Us Email Us Looking for Customize Dissertation Topics. This can be
explained by larger firms having more resources and knowledge (Francis et al., 1999). In addition,
the Big Four companies are less likely to cover opportunistic behaviour as they would need to defend
their reputation (DeFond and Jiambalvo, 1993; Krishnan, 2003). This paper illustrates that the
tourism industry of saudi arabia is influenced by numerous challenges, and the kingdom of saudi
arabia has been striving really hard to meet all such challenges. Below you will learn the process of
how an external audit is done. Audit procedures Audit procedures Standards of Internal Audit
Standards of Internal Audit Internal audit ppt Internal audit ppt 6. Presenting external audit
flowchart powerpoint template. Furthermore, greater independence of the audit committee might
reduce its effectiveness as executive directors would likely have more relevant knowledge regarding
the firm (Al Mamun et al., 2013). We use cookies to create the best experience for you. Signed
abnormal accruals tend to be significantly higher for companies that are not audited by the Big Four.
Because an internal auditor is hired by the company, they report their findings to the company’s
management while external auditors report to the shareholders as they are appointed or hired by
them. Contemporary Accounting Research, 25 (3), pp.827-858. The study also showed that
demographic factors like age, gender, job profile, etc. The paper recommended a thorough and
transparent recruitment process for internal audits. A larger committee would also have access to
more resources and knowledge, resulting in the following hypothesis. However, both studies focused
on emerging countries and might be less applicable to the case of the UK. New businesses can
benefit from an external audit since external auditors are less biased, which guarantees that your
financial records are credible. Most notably, AC composition represents committee’s independence
and expertise (Contessotto and Moroney, 2014), while meeting frequency can be regarded as a
diligence measure (Vafeas, 2005). This necessitates a study about the present situation and the need
for external auditors to be committed to the code of conduct in the future. More general studies of
Xie et al. (2003) and Vafeas (2005) show that greater diligence reduces the likelihood of earnings
management and fraud. This was achieved by estimating total and abnormal accruals of large UK
companies during the period 2010-2016. Overall, no evidence in favour of the role of internal audit is
found.
Also, this study will be conducted mainly by using secondary sources as it mainly involves the study
of an existing situation. However, the effective performance of such duties would depend on the
challenges faced by internal auditors in public sector institutions. But it is also the most important
one that sets the pace for the next weeks, months or years that follows. The usefulness of this paper
is to overcome the increasing rate of fraud in Malaysian public sector and encourage the
whistleblowing practice in public sector agencies. Users using more than one email will be
disqualified. Finally, this research will suggest a set of important recommendations that might help to
improve the professional behaviour of external auditors in Saudi Arabia and encourage them to
commit a code of conduct. Nevertheless, the quality of external audit is found to produce a
significant effect on reduction of earnings management. However, a rosy future may yet be achieved
through the involvement of key parties and if specific measures are put in place. This would require
maintaining an independent opinion which is more feasible for larger auditors (Piot and Janin, 2007).
Summary Reports are submitted, which contains a summary of the findings and the opinion of the
independent auditors. Create the body of your memo by writing an introduction, the body of your
memo that contains the reason for the memo, and a summary or conclusion that will suggest the
appropriate actions that will be made. Meeting frequency is often represented by the number of
official meetings, although it was noted that committees’ activity outside of scheduled meetings is
equally important (Turley and Zaman, 2007). In other words, a greater number of directors may not
necessarily result in more efficient monitoring, as communication issues and agency costs within the
committee would offset the benefits of a larger board. All the necessary documents and files are
provided by the business or company. The cross-sectional Jones model might also overestimate
abnormal accruals for specific firms as they are not distinguished based on industry. To provide
suggestions for methods to improve the commitment of external auditors Literature review World
over very few studies was conducted in the field of personal values and accounting ethics. External
auditing can also be used to assess the effectiveness of an organization's internal controls and to
identify any potential areas of risk. The uniqueness of this paper is to examine a new determinant,
namely the practice of whistleblowing, on its effect in mediating the effectiveness of internal audit.
Moreover, an evolving set of auditing standards introduces several necessary intermediary judg.
Good research work and creative work done on every template. All the records related to the audit
examined in an external audit to make sure no errors exist in the financial statement, which is
important for investors and regulatory requirements. Award Identification —At the time of the award,
identifying to the sub-recipient the federal award information and applicable compliance
requirements. Various memo types can be used depending on how they are used. The Shrewsbury and
Telford Hospital NHS Trust August 2007. AUDIT. Content. The contacts at KPMG in connection
with this report are. It might be argued that greater activity represented by more frequent meetings
would allow directors to carry out their monitoring function more effectively (Khanchel, 2007).
Importance of an External Audit If an internal audit can be conducted by a company throughout the
year, then why do you think there is still a need for an external audit to be conducted at least once a
year. Alternatively, meeting frequency might not capture the activity of the AC outside of scheduled
meetings (Turley and Zaman, 2007). The study is based on a survey of internal audit managers and
chief internal auditors in private and public sector entities in Nigeria. However, both studies focused
on emerging countries and might be less applicable to the case of the UK. You can download the
paper by clicking the button above.
Good research work and creative work done on every template. The activities of external auditors on
the other hand are directed by a CPA. The audit is done by an internal or external auditor whereas an
audit firm does Assurance. MS An exploratory study for finding common factors between different
global auditing and accounting scandals MS A correlative study between the external auditing and
the ethical behavior of senior management. TYPE SUBJECT BS An investigative study to research
on financial audits of non-profit organizations. The auditor will also provide an opinion on the
organization's overall financial health. All the records related to the audit examined in an external
audit to make sure no errors exist in the financial statement, which is important for investors and
regulatory requirements. Total of 70 responses was received and analyzed for descriptive statistics
and relationship testing using SPSS and SmartPLS. Key audit committee characteristics and relevant
empirical evidence are described. The External Audit Procedure determines if the company presents
financial information in accordance with established criteria and is in compliance with specific
requirements. Budget Execution Course January 10-11, 2004 Anne Mondoloni, OPCFM-AFTFM.
Overview. What is an SAI ? The Lima Declaration theory and practices Regional perspectives What
is INTOSAI. Avoid using a salutation in your memo, it is important that you say your point clearly.
Create the body of your memo by writing an introduction, the body of your memo that contains the
reason for the memo, and a summary or conclusion that will suggest the appropriate actions that will
be made. It gives useful guidelines about how internal and external auditors can work with each
other efficiently and. Presenting key phases of external audit system process ppt design templates.
The Lima Declaration theory and practices Regional perspectives What is INTOSAI. Get in touch
with your inner creative with our downloadable resources. An internal audit may have the risk of
being biased since accountants who work for that company do the auditing. Finally, the paper
provided limitation of the study and direction for future research. Users using more than one email
will be disqualified. External auditing can also be used to assess the effectiveness of an
organization's internal controls and to identify any potential areas of risk. There is slight difference
between internal audit activities and interaction with external auditor in the two sectors with private
sector more likely to coordinate in the area of access to audit working papers. London Borough of
Ealing September 2007. AUDIT. Content. The contacts at KPMG in connection with this report are.
Passy-Muir Speaking Valves are the ultimate in tracheostomy speaking valves providing many clinical
benefits due to their unique no-leak design. However, a rosy future may yet be achieved through the
involvement of key parties and if specific measures are put in place. PhD A comparative study of the
auditing differences between private and public organizations in the UK Consult Our Writers to
Discuss Your Needs WhatsApp Us Chat With Us Email Us Looking for Customize Dissertation
Topics. Indeed, all five companies with the lowest total assets correspond to the latter group, with
four firms audited by Grant Thornton and one firm audited by BDO International. A case study of
Microsoft corporation MSC A comparative analysis of whether the audit explosion in the past decade
has led to biased unprofessionalism or quality audits. No effect was reported by Bedard et al. (2004)
and Yang and Krishnan (2005). Study about the external auditor’s commitment to such a code of
ethics is the major area of study.
In this study, the Internal Audit Capability Model (IACM) is used to measure the capability while
the independence of the internal audit is studied as one of the factors influencing it. A substantial
difference was found in the reporting lines of internal auditors in both sectors. They are third party
individuals or firms who are not related to your company or business. An audit committee is
regarded as one of the most important board committees as it reduces the information asymmetry
between managers and shareholders. The study used stratified random sampling, in which samples
were drawn from six geo- political zones in Nigeria; data were analyzed using Statistical Package for
Social Science (SPSS) version 21. Audit procedures Audit procedures Standards of Internal Audit
Standards of Internal Audit Internal audit ppt Internal audit ppt 6. Pin On About Internal Audit The
auditing process of the two types of the audit is almost same and that.. First-party audits are internal
audits while second and third-party audits are external audits. Similarly, Dey (2008) and Nuryanah
and Islam (2011) observed a positive linkage between report quality and AC independence. The latter
are regressed on the firm’s change in revenue and PPE. In contrast, Hsu and Petchsakulwong (2010)
reported a negative relationship between the variables. Write the details of your company such as the
name, address, contact number, email address, and your logo, if you have one. Two key
characteristics of the audit committee, size and frequency of the meetings, were examined in the
context of earnings management. The uniqueness of this paper is to examine a new determinant,
namely the practice of whistleblowing, on its effect in mediating the effectiveness of internal audit.
Journal of accounting and economics, 33 (3), pp.375-400. An internal audit is a type of internal
control process designed to examine and evaluate the effectiveness of other controls within an
organisation. Business Strategy and the Environment, 15(2), pp.103-117. Finally, this research will
suggest a set of important recommendations that might help to improve the professional behaviour of
external auditors in Saudi Arabia and encourage them to commit a code of conduct. A more active
and diligent AC could be more effective at controlling earning management. This would be
consistent with smaller auditors being less effective at discouraging such practices. If an independent
auditor has accepted the work, both the auditors and the company will get into an agreement and
discuss about the length of the audit, the terms, and the responsibilities of both parties. The present
study is consistent with the findings of Becker et al. (1998) and Lin et al. (2006). The study
recommends a revision of NSA 26 so as to incorporate changes made in ISA 610 of 2013. Next, the
sample includes smaller companies that are not audited by the Big Four. Finally, the paper provided
limitation of the study and direction for future research. By using our site, you agree to our collection
of information through the use of cookies. The data on AC characteristics, namely the number of
committee members, the number of non-executive members, and number of meetings, is obtained
from companies’ annual reports for the year 2016. This naturally creates a need for supervising and
monitoring mechanisms that would limit such behaviour while still allowing for enhancing
shareholder wealth. Poor fit is reflected in the low R-squared value with no statistically significant
effects of major variables. If you wish to learn more about other related articles, you can always visit
our website. No effect was reported by Bedard et al. (2004) and Yang and Krishnan (2005).
Now emerging technologies like AI and robotic process automation RPA are further making their
way into internal audit. Create the body of your memo by writing an introduction, the body of your
memo that contains the reason for the memo, and a summary or conclusion that will suggest the
appropriate actions that will be made. A survey of internal audit managers of both sectors was
undertaken to establish their current practices. Award Identification —At the time of the award,
identifying to the sub-recipient the federal award information and applicable compliance
requirements. The traditional Jones model could be less applicable to companies with extreme cash
flows (Piot and Janin, 2007). Journal of Business Finance and Accounting, 32 (9?10), pp.1921-1960.
A study population of 182 made up of 127 accountants and 55 internal auditors in the Parastatals
was utilized. The results are then discussed in the context of similar studies in Section 5. Difference
between internal stakeholders and external stakeholders. Scholars can use them for free to gain
inspiration and new creative ideas for their writing assignments. The direct effect of the AC is
reflected in the greater quality of financial reports and accounting figures (Contessotto and Moroney,
2014). To help you in writing an external memo for your business, the steps in creating one are listed
below: Download from our external memo templates to help you outline your blank memo. The
association between audit committee directors' accounting expertise and accounting conservatism.
The population of the study was drawn from accountants and auditors in the offices of the
Accountant-General and Auditor-General of Anambra State. MS A critical analysis of how credible
do external creditors and investors find internal audit reports of companies in United Kingdom. They
help to design the companys organising systems and help develop specific risk management policies.
This is in line with the agency theory as stronger supervising mechanisms should discourage
managers from misreporting accounting figures. The model can be adjusted to explicitly include cash
flows when estimating the economic-based component of total accruals. Earnings management has
been measured by using abnormal accruals as well as estimating the propensity to meet earnings
forecasts (Prawitt et al., 2009). Cuma nasihat aku sebelum kau gunakan nama Allah ini perhatikan
maksudnya terlebih dahulu kerana tidak semua sesuai. To browse Academia.edu and the wider
internet faster and more securely, please take a few seconds to upgrade your browser. We use cookies
to create the best experience for you. An audit is an examination or assessment of the financial side
of things. Consequently, the interests of managers might become more aligned with shareholders’
interests as the former would have fewer opportunities for pursuing personal itnersts (Fama and
Jensen, 1983). The external auditor will also assess the organisation's financial reporting process to
ensure that it is effective and compliant with relevant accounting standards. Do you want to ensure
that your organization is fully prepared for an external audit. Auditors are chosen based on their
reputation, skills, qualifications, efficiency, etc. If you are looking for external memos, we have
samples in word and PDF available to download on this page. The focus of an average business
entrepreneur is generally to make profit and as far as possible maximize such within an
organizational capacity. View different varieties of dissertation topics and samples on multiple
subjects for every educational level View More Q1 Where can I find adequate data for my audit
dissertation.
With a reputation for proficiency, quality, and reliability, clients refer to Mr. Jose for independent
assessments of organizations structures and operations. Journal of Management Studies, 49 (1),
pp.202-222. An auditor regardless if they are an internal auditor or an external auditor must have
independence of the process or company respectively that they are. Karkea kaannos. Small entity
audit standard NP 2010 Ranska. TYPE SUBJECT BS An exploratory analysis of disparity between
the progress in audit assurance when compared to financial statement ambiguities. A memo is a
written document used as a form of communication and is sent by an individual to another
individual. There are things that cannot be detected by people from within, but can definitely be
determined by people from outside. The uniqueness of this paper is to examine a new determinant,
namely the practice of whistleblowing, on its effect in mediating the effectiveness of internal audit.
The number of directors ranges from 3 to 9, although most of the companies appear to employ fewer
members. The aim of external audit is to provide assurance that an organisation's financial statements
and reporting are accurate and free from material misstatement. You can similarly convert our content
to any other desired screen aspect ratio. This is especially useful when a certain issue needs to be
discussed without having to call a meeting in the company. While in India, he became a CPA and
worked as an accountant and an auditor. The objective of this study is to examine the position of
these quality attributes of IA in the Nigerian private sector following the recent regulatory changes.
Therefore, there is a guarantee that you will get an honest and reliable audit report from them. Here
the working scope is determined by the respective statute. Most public accounting firms require a
valid state-issued Certified Public Accountant (CPA) license or the educational qualifications
necessary to obtain one upon hiring. MS An exploratory study for finding common factors between
different global auditing and accounting scandals MS A correlative study between the external
auditing and the ethical behavior of senior management. A sample of non-financial UK firms is
investigated throughout the years 2010-2016. Finally, the result indicated that private sector
experiences a reduction in external audit fees compares to its counterpart in the public sector. There
was a clear difference witnessed in the behavior of Australian auditors compared to that of their
Asian counterparts. When the two cover the same scope I like to say that an internal audit is a pre-
test and external audit is the final. In recent years audit teams have increasingly used data analytics
and cloud technologies to increase efficiency and improve assurance. The analysis covers a sample of
large UK firms during the period 2010-2016. What Is the Difference Between an External Audit and
Internal Audit. Presenting external audit flowchart powerpoint template. Audit function in Public
Sector Key elements of External Audit, Internal Audit and Financial Inspection function. This
research work will be an extension of the above-mentioned studies as the main purpose is to analyze
the matters that influence the professional behavior of auditing professionals. However, to date, it is
still questionable whether this audit is efficient and effective due to the increasing trend in reported
frauds in government departments. There is slight difference between internal audit activities and
interaction with external auditor in the two sectors with private sector more likely to coordinate in the
area of access to audit working papers.
With our template, you can easily create a comprehensive external audit procedure that covers all
aspects of the audit process, from planning and preparation to execution and follow-up. Business
Strategy and the Environment, 15(2), pp.103-117. Methods and Lessons Learned from the Danube
River Helmut Habersack Download Free PDF View PDF RELATED TOPICS Public sector Thesis
Kuala Lumpur Effectiveness of Internal Auditing See Full PDF Download PDF About Press Blog
People Papers Topics Job Board We're Hiring. Contemporary Accounting Research, 20 (2), pp.323-
359. This could be important for exploring how the relationship between audit quality and earnings
management changes in the environment of increased information asymmetry. Overall Objectives of
the Independent Auditor and the Conduct of an Audit in. Dr. Soheli Ghose Banerjee Ranska. By
using our site, you agree to our collection of information through the use of cookies. Cuma nasihat
aku sebelum kau gunakan nama Allah ini perhatikan maksudnya terlebih dahulu kerana tidak semua
sesuai. MS An exploratory study for finding common factors between different global auditing and
accounting scandals MS A correlative study between the external auditing and the ethical behavior of
senior management. A thorough audit typically assesses the security of the systems physical
configuration and environment software information handling processes and user practices. The
findings show that all the variables are free from multicollinearity and the results of the descriptive
statistics of mean and standard deviations provide that all the respondents seem to agree with the
statements regarding the variables. The objective of this paper is to examine the scope of audit that is
associated with the effectiveness of internal audit. Contemporary Accounting Research, 9 (2),
pp.415-431. Alternatively, meeting frequency might not capture the activity of the AC outside of
scheduled meetings (Turley and Zaman, 2007). Write the details of your company such as the name,
address, contact number, email address, and your logo, if you have one. This could be explained by
the communication and agency costs within the committee offsetting the benefits from a larger
monitoring body (Sharma et al., 2009; Lipton and Lorsch, 1992). In addition, the adoption of risk-
based approach at macro level was not statistically significant affects the internal audit effectiveness
and efficiency. Access our PowerPoint Ebooks and become a brilliant presentation designer. A
comparative analysis of foreign start up funding in UK VS USA. Because they are not related to
your company, their opinions and evaluations will seem less biased. Finally, the analysis explores
both internal and external audit practices to examine the role of corporate governance in greater
detail. This evidence proves that larger auditors are more effective in monitoring financial reporting.
The results show no significant effect of audit committee characteristics such as size and meeting
frequency on earnings management. There are typically basically three paragraphs in an audit report
that covers the topics about the scope of the audit, the responsibilities of the auditor and
management, and the audit opinion of the auditor based on the information gathered from the
conducted assessment. After an external audit is done, an external audit report is important. Wyre
Forest District Council December 2007 DRAFT. AUDIT. Content. The contacts at KPMG LLP in
connection with this report are. An external audit can expose certain problems in a company.
Research method To achieve the objective, the study will review some previous related studies and
will conduct filed study through designing a questionnaire which will aim to investigate how far the
external auditors are committed to code of conduct in Saudi Arabia from the point of view of
external auditors, financial information users, and auditing control and supervision authorities in
Saudi Arabia. External auditors will be able to identify the risks and irregularities of a company’s
financial records. They have a lot of similarities, which includes the areas in a business or company
where they are conducted, the data gathered during the audit and the audit results or audit opinions.