Evidence on the nature of audit planning problem representations: an examination of auditor free recalls

Article Abstract:

The planning problem representation abilities of auditors with varying levels of experience were examined through an assessment of free recalls. For the investigation, a sample of 211 practicing auditors, with experience status ranging from one month to 30 years, were asked to complete a planning task, answer a background questionnaire and perform a surprise recall task. Their total knowledge, knowledge of relationships and abstract knowledge were then evaluated in relation to their experiential level. Results show that the problem representations of managers and partners may have differences from those of seniors or juniors. It was discovered that the manager/partner recalls incorporate a lesser number of simple case facts but a greater number of abstractions from the simple facts. Implications of these findings on audit practices and recommendations for further research are discussed.

Psychological aspects, Research, Problem solving, Auditors, Experiential learning

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Belief-function formulas for audit risk

Article Abstract:

The relationship between audit risk and the plausibility of material misstatement is examined using belief functions. Formulas for plausibility at the audit objective level, financial statement level and account level are derived using tree-based structures with binary variables. At the audit objective level, the derived formula for plausibility of material misstatement is similar to its counterpart SAS Number 47 formula. However, at the account and financial statement levels a markedly different formula is derived. The derived formulas thus serve as an effective instrument for audit planning.

Models, Tree structures (Computers), Tree structures (Data structures)

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A decision-support system for audit-staff scheduling with precedence constraints and due dates

Article Abstract:

The flexible staff scheduling computer program originated by B.V. Balachandran and A.A. Zoltners in 1981 is extended for the following variables: precedence constraints, penalty fees, deadline pressures, audit considerations and resource leveling. The decision support program resulting, like the original, is a zero-one integer program. The revised computer program is said to be more realistic and therefore more practical.

Management, Usage, Software, Human resource planning, Scheduling (Management), Decision support systems

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