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Audit software (CAAT) andAudit quality: A Qualitative study regarding impactaudit software and audit quality in SriLankan context
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Business Administration.
2024 (English)Independent thesis Advanced level (degree of Master (Two Years)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

This qualitative study delves into the effects of Computer Assisted Audit Tools (CAAT) onthe quality of audits in Sri Lanka. Recognizing the lack of a universal definition for auditquality, this research draws upon established frameworks by Knechel et al. (2013) and theInternational Auditing and Assurance Standards Board (IAASB) from 2014 to explore auditquality indicators within the domains of input, process, context, and outcome. The researchadopts an Interpretivism paradigm to appreciate subjective viewpoints and humanisticaspects within its methodology. In order to gain an in-depth understanding, semi-structuredinterviews were conducted with auditors from the big four, private firms, and large localaudit firms in Sri Lanka.Selection criteria ensured a diverse sample size of seven participants from each firmcategory. Findings reveal that not only does the use of audit software contribute to enhancedaudit quality in Sri Lanka, but motivated auditors armed with effective tools are also morelikely to produce reports devoid of misstatements.Furthermore, the study observes a discrepancy in technology adoption for auditing purposeswith larger firms utilizing more advanced systems compared to smaller local entities anddiscusses how this dichotomy impacts overall audit practices. The research ultimatelyunderscores the significance of technological innovation and auditor motivation in elevatingaudit quality within the Sri Lankan context and offers valuable insights for practitioners,regulators, and academics aiming to bridge practices with global standards.

Place, publisher, year, edition, pages
2024. , p. 67
Keywords [en]
Audit software, audit quality, Sri Lanka, ethics, professionalism, technology, regulatory influence, auditor behaviour, Auditor performance, Audit evidence, Technology and audit quality.
National Category
Business Administration
Identifiers
URN: urn:nbn:se:umu:diva-226320OAI: oai:DiVA.org:umu-226320DiVA, id: diva2:1871019
Educational program
Master's Programme in Accounting
Presentation
2024-05-30, Umeå University, UNIVERSITETSTORGET 4, 901 87 Umeå, Umeå University, 12:48 (English)
Supervisors
Available from: 2024-06-17 Created: 2024-06-16 Last updated: 2024-06-17Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf