Great Expectations
CA Magazine August 2000
University of Alberta School of Business Research Paper No. 2013-1036
Posted: 1 Jul 2013
Date Written: June 1, 2000
Abstract
One of the distinguishing features of the audit decision-making process is its hierarchical structure, with an engagement partner at the top and several tiers of auditor below. While individual auditors are often called upon to make specific judgments at particular points during an audit, their judgments are not based solely on their own choices. Decisions made today will affect decisions made by others today; they also have the potential to affect decisions made by other auditors in the future. What's more, today's decisions will be evaluated by superiors who will determine the quality of judgment subjectively, based in part on the beliefs and preferences of others. One key mechanism used by audit firms to monitor audit quality, carry out performance appraisals and provide timely feedback is the audit review process.
Suggested Citation: Suggested Citation
Karim Jamal (Contact Author)
University of Alberta - Department of Accounting, Operations & Information Systems ( email )
Edmonton, Alberta T6G 2R6
Canada
780-492-5829 (Phone)
780-492-3325 (Fax)