Financial Auditor’s Professional Judgement and Challenges Faced in a Global Audit Environment
AbstractIn an increasingly globalised economy, the quality and professionalism of a business is becoming more important than ever before. The audit profession is no exception. This paper examines audit professionalism alongside audit efficiency, its trend and its relationship with professional judgement. It is discovered that there is a contradiction between the commercial logic and the professional logic in the audit practice. It is also discovered that professional judgement is an essential tool for the auditor and that there is an opposition between efficiency and effectiveness in the audit practice. This article argues that the key to bring a balance to these contradictions is professional judgement.
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Bibliographic InfoArticle provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.
Volume (Year): XI (2011)
Issue (Month): 1 (May)
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Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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audit; professional judgement; professionalism; efficiency; effectiveness;
Find related papers by JEL classification:
- M10 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - General
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
- M42 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Auditing
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