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FAR Working Paper: How do audit committees support audit engagement teams and encourage professional skepticism? A survey and experimental evidence
Prof. dr. Anna Gold Prof. Joseph Brazel Dr. Justin Leiby Tammie Schaefer PhD
Working Papers
28-03-2022
Details
 

The team explores how audit committees (ACs) support audit engagement teams and whether AC support can improve auditors’ professional skepticism. First they surveyed audit practitioners and found out that AC support is multidimensional, varies between engagements, and often is not communicated to the entire engagement team. Then it was experimentally investigated whether the explicit communication of AC support to the entire engagement team (by the partner vs. the AC chair) impacts the skepticism of auditors. While skeptical judgments are consistently high, auditors vary in their skeptical actions. When management attitudes towards the engagement team are poor, AC support communicated by the audit partner increases skeptical actions. Direct communication of support by the AC chair does not increase skepticism relative to when the partner conveys AC support. The findings of the team highlight the importance of AC support for audit teams, and the lack of AC support (or communication thereof) that exists on many audit engagements.

Authors

Prof. dr. Anna Gold

Anna Gold obtained her Ph.D. from the University of Amsterdam in 2004, worked as an assistant professor at Rotterdam School of Management, Erasmus University for six years and is currently professor at the Vrije Universiteit Amsterdam where she teaches Auditing at the BSc and MSc level, as well as PhD courses in Auditing and Experimental Methods. Anna’s research interests are in the judgment and decision-making area, primarily applied to the field of Auditing. Her research has focused on the impact of regulatory changes, on judgments and decisions of auditors and financial statement users. Her recent work focuses on how auditors and audit firms handle errors and whether varying the error management climate affects auditors’ error reporting willingness and audit firm learning. Anna’s work and her publications have appeared in a number of prestigious journals such as The Accounting Review, Accounting Horizons, Journal of Business Ethics, and International Journal of Auditing.

Prof. Joseph Brazel
Dr. Justin Leiby

Associate Professor of Accountancy and Professor Ken Perry Faculty Fellow University of Illinois

Tammie Schaefer PhD

Tammie Schaefer is an Assistant Professor of Accounting at the University of Missouri – Kansas City where she teaches undergraduate and graduate courses in auditing and tax. Her research focuses on fraud detection, professional skepticism, nonfinancial measures, consultations, and judgment and decision-making in auditing and tax. Her research in these areas has led to publications in The Accounting Review and Contemporary Accounting Research. The Institute for Fraud Prevention, the Center for Audit Quality, KMPG, the International Association for Accounting Education and Research, the University of South Carolina, and the University of Missouri – Kansas City have all supplied her with grants to support her research. In 2013 Tammie received the American Accounting Association Auditing Section’s Best Ph.D. Student Paper Award for her dissertation. She is a member of the AICPA’s Accounting Doctoral Scholars (ADS) Program, and prior to obtaining her Ph.D., Tammie was an audit senior with PwC.

Publication FM Magazine: "Opdrogen financiële informatie als voorteken van faillissement"
Other Publications
25-03-2022
Details
 

Bij 63% van de faillissementen gaf de accountant geen waarschuwing.

Authors

Article Accountant: Going concern-verklaring leidt maar zelden tot faillissement
Other Publications
24-03-2022
Details
 

Een going concern-verklaring leidt maar zeer zelden tot een faillissement. Dat blijkt uit een rapport over de rol van de accountant bij bedrijfscontinuïteit. Dat is gepubliceerd door de Werkgroep Continuïteit, een samenwerking tussen de NBA, SRA en accountantsorganisaties.

Authors

Publication NBA "Rapport werkgroep Continuïteit over rol accountant bij bedrijfscontinuïteit"
Other Publications
24-03-2022
Details
 

88% van de failliete organisaties deponeert voor het laatste boekjaar geen jaarrekening of 403-verklaring binnen de wettelijke termijn. Dit is een van de belangrijkste conclusies uit het rapport van de Werkgroep Continuïteit, een samenwerking tussen de NBA, SRA en accountantsorganisaties, over de rol van de accountant bij bedrijfscontinuïteit. 

Authors

FAR Literature Review: Team learning behaviors in virtual engagement teams
Iver Wiertz PhD student Prof. dr. Ann Vanstraelen Prof. dr. Roger Meuwissen RA Prof. dr. Wim Gijselaers Dr. Therese Grohnert
21-02-2022
Details
 

When teams are the prime unit of working and learning in organizations - such as is the case in accountancy firms - they face many challenges to use their potential and achieve their goals. Their business environment can be characterized by complexity and ambiguity. This requires teams to engage in team learning behaviros that allow team members to share their skills, knowledge, information, and point of view to modify team's habits and work procedures depending on what is required.

Understanding how team learning behaviors affect virtual engagement teams is the central research question in the FAR project “Virtual Audit Teamwork: working, learning, and delivering high audit quality virtually." The purpose of this literature review is twofold: On the
one hand, the research team aims to provide an overview of available insights on remote work and virtual teamwork in the auditing profession. On the other hand, the team strive to provide an overview of available literature on team learning behaviors in virtual teams to identify drivers and facilitate conditions of team learning in virtual teams. A systematic review of how team learning behaviors are affected by virtual teamwork is still missing, and we know little about how these insights relate to the auditing profession.

Authors

Iver Wiertz PhD student
Prof. dr. Ann Vanstraelen

Ann Vanstraelen is Full Professor of Accounting and Assurance Services at Maastricht University and serves as Head of the department of Accounting and Information Management. She coordinates the multidisciplinary research theme "Culture, Ethics and Leadership". She earned her PhD at the University of Antwerp. Her research interests relate to the broad field of auditing and assurance services, governance, corporate reporting and disclosure, with a specific focus on the quality of accounting and auditing practices. 

 


Prof. dr. Roger Meuwissen RA
Prof. dr. Wim Gijselaers

Wim Gijselaers is full professor in educational research, in the School of Business and Economics at Maastricht University, the Netherlands. His research focuses on educational innovation in higher education, social determinants of team cognition and team performance, and judgment and decision making in management and accounting. His educational development work focused on the further development of Problem-Based Learning within Business Education. Next to teaching in the award-winning Master program Management of Learning, he teaches as visiting professor at the University of Bern (Switzerland) in a post-graduate program for Health Care Professionals. Wim is member of advisory boards of universities in Germany and Switzerland, and serves as chief-editor of the Springer Book Series Innovation and Change in Professional Education. Next, he is affiliated with the consulting firm Learning Miles (based in Helsinki). In this role he has presented workshops for Scandinavian-based companies on topics of Innovation and Change. He was co-founder and chair of the EDINEB network in the Nineties. Next, he was the founding editor of the Springer Book Series Educational Innovation in Economics and Business. He served positions as Program Director of International Business, and Associated Dean of Education. Currently he is chair of the department of Educational Research and Development, at the School of Business and Economics (Maastricht University). Several of his PhD’s received awards for their PhD Thesis, or papers presented at meetings of the American Educational Research Association, the Association for the Advancement of Computing in Education, and the EARLI Special Interest Group 14 “Learning and Professional Development”. Together with Professor Ann Vanstraelen he coordinates the GSBE research project "Culture, Ethics, and Leadership": https://www.maastrichtuniversity.nl/research/institutes/gsbe/gsbe-research.

Dr. Therese Grohnert
FAR Research Paper - Bankruptcy and Auditor’s Reporting in The Netherlands
WP Tjibbe Bosman RA MSc Merel van der Kuip MSc Dr. Wim Janssen
Research Paper
09-12-2021
Details
 

The team studied the reporting behavior of Dutch organizations subject to statutory audit in the three years prior to their bankruptcy. They found that only 12 percent of companies file timely audited financial statements or an exemption in the year prior to bankruptcy, 56 percent (64) in year two (three) before the bankruptcy. Second, management discloses discontinuity risks in just 29 percent of the pre-bankruptcy filing. And third, only 11 percent of organizations have a filed audit opinion for the fiscal year prior to bankruptcy. However, for the majority (63 percent or 39 instances out of 62) of audit opinions issued for the fiscal year before the insolvency, the auditor did not include a material uncertainty relating to going concern (GCO) in its audit opinion and therefore constitute a type-II GCO error (error of omission). They estimate the total GCO type-II (I) error rate at 0.03 (99.26) percent of audit opinions issued.

Authors

WP Tjibbe Bosman RA MSc
Merel van der Kuip MSc
Dr. Wim Janssen
FAR Literature Review: Engaging auditors’ innovation mindset to mitigate goal conflict and improve audit effectiveness with data analytics - thinking outside of the box
Prof. dr. Anna Gold Ass. Prof. Tina D. Carpenter Prof. Margaret H. Christ
18-10-2021
Details
 

Authors

Prof. dr. Anna Gold

Anna Gold obtained her Ph.D. from the University of Amsterdam in 2004, worked as an assistant professor at Rotterdam School of Management, Erasmus University for six years and is currently professor at the Vrije Universiteit Amsterdam where she teaches Auditing at the BSc and MSc level, as well as PhD courses in Auditing and Experimental Methods. Anna’s research interests are in the judgment and decision-making area, primarily applied to the field of Auditing. Her research has focused on the impact of regulatory changes, on judgments and decisions of auditors and financial statement users. Her recent work focuses on how auditors and audit firms handle errors and whether varying the error management climate affects auditors’ error reporting willingness and audit firm learning. Anna’s work and her publications have appeared in a number of prestigious journals such as The Accounting Review, Accounting Horizons, Journal of Business Ethics, and International Journal of Auditing.

Ass. Prof. Tina D. Carpenter
Prof. Margaret H. Christ
Retaining the learning professional: A survival study on workplace learning in professional service firms
Dr. Therese Grohnert Prof. dr. Roger Meuwissen RA Prof. dr. Wim Gijselaers
Other Publications
08-09-2021
Details
 

Lowering professional turnover is of paramount importance for professional service firms, as with each professional, crucial proprietary knowledge leaves the firm. Based on the need to retain this crucial knowledge in the firm, this study explores whether factors that drive learning at work also mitigate professionals' turnover behavior. Building on insights from both workplace learning and turnover research, this study follows 96 professional auditors across a period of 5 years to determine how drivers for workplace learning at the organizational, the social interaction, and the individual level relate to turnover behavior.

Authors

Dr. Therese Grohnert
Prof. dr. Roger Meuwissen RA
Prof. dr. Wim Gijselaers

Wim Gijselaers is full professor in educational research, in the School of Business and Economics at Maastricht University, the Netherlands. His research focuses on educational innovation in higher education, social determinants of team cognition and team performance, and judgment and decision making in management and accounting. His educational development work focused on the further development of Problem-Based Learning within Business Education. Next to teaching in the award-winning Master program Management of Learning, he teaches as visiting professor at the University of Bern (Switzerland) in a post-graduate program for Health Care Professionals. Wim is member of advisory boards of universities in Germany and Switzerland, and serves as chief-editor of the Springer Book Series Innovation and Change in Professional Education. Next, he is affiliated with the consulting firm Learning Miles (based in Helsinki). In this role he has presented workshops for Scandinavian-based companies on topics of Innovation and Change. He was co-founder and chair of the EDINEB network in the Nineties. Next, he was the founding editor of the Springer Book Series Educational Innovation in Economics and Business. He served positions as Program Director of International Business, and Associated Dean of Education. Currently he is chair of the department of Educational Research and Development, at the School of Business and Economics (Maastricht University). Several of his PhD’s received awards for their PhD Thesis, or papers presented at meetings of the American Educational Research Association, the Association for the Advancement of Computing in Education, and the EARLI Special Interest Group 14 “Learning and Professional Development”. Together with Professor Ann Vanstraelen he coordinates the GSBE research project "Culture, Ethics, and Leadership": https://www.maastrichtuniversity.nl/research/institutes/gsbe/gsbe-research.

Is de kwaliteit van de accountantscontrole gestegen?
Christian Peters PhD student
Other Publications
08-09-2021
Details
 

De kwaliteit van wettelijke accountantscontroles in Nederland is al een aantal jaren onderwerp van een verhitte discussie. Zowel het kabinet, accountantsorganisaties, de Nederlandse Beroepsorganisatie van Accountants (NBA), als de Autoriteit Financiële Markten (AFM) hebben vergaande verbetermaatregelen aangekondigd om te werken aan een betere controlekwaliteit. Dit roept de vraag op hoe het met de controlekwaliteit in Nederland gesteld is en hoe deze zich in de afgelopen jaren heeft ontwikkeld. Controlekwaliteit is een complex en veelzijdig begrip dat bestaat uit een input-, proces-, en uitkomstniveau. In dit onderzoek richt ik mij op het uitkomstniveau van wettelijke controles: de verslaggevingskwaliteit van de gecontroleerde jaarrekening. Ik doe dit op basis van een veelgebruikte maatstaf uit de wetenschappelijke literatuur: discretionaire accruals. Resultaten tonen aan dat de uitkomstkwaliteit van wettelijke controles van beursvennootschappen in de periode 2000–2018 significant is gestegen.

Authors

Christian Peters PhD student
FAR Practice Note - Workload allocation process within audit firms
Prof. dr. Eddy Cardinaels Ruiqiong Zhang PhD student Ass. Prof. Amin Sofla Ass. Prof. Simon Dekeyser
Practice Notes - Practitioner's Notes
20-07-2021
Details
 

Context: Audit firms rely heavily on their intellectually skilled auditors, who manage and lead the engagement team (so-called ‘lead auditors’ in this project). To deliver high-quality audit services to their clients and to offer opportunity for auditors to learn, audit firms should try to achieve proper matching between their clients and the auditors based on compatibility between them. Appropriate matching can constitute a difficult exercise as both the lead auditors and clients may have an important stake that encourages them to intervene in the allocation process. Such interventions may affect the level of audit quality that the audit firm is able to deliver when clients and auditors are not appropriately matched.

Objective and method: The objective of this research is to understand how audit firms determine the lead auditor-client pair in terms of appropriate matching. Given that such allocations take place in a work environment where lead auditors and clients have their own demands and as such can intervene in this process, this research further aims to identify the lead auditors’ motivations for intervening in this process. We will conduct semi-structured interviews with lead auditors and planning department staff of audit firms to address our research questions.

Authors

Prof. dr. Eddy Cardinaels

Eddy Cardinaels (1975) is full Professor of accounting at Tilburg University and part-time professor at KU Leuven. His work combines new insights from psychology and behavioral economics to study how different information presentation (ABC, BSC, summaries of earnings releases) can affect decision making of managers within companies. Other experimental work focuses on drivers of honest reporting and social motives in inter-firm negotiations. He also conducts archival work on corporate governance examining how social connections between board members affect financial reporting, how companies use their networks to engage in tax avoidance and factors that drive (excess) compensation. 

Ruiqiong Zhang PhD student
Ass. Prof. Amin Sofla
Ass. Prof. Simon Dekeyser
FAR Literature Review - Workload allocation process in audit firms
Prof. dr. Eddy Cardinaels Ruiqiong Zhang PhD student Ass. Prof. Amin Sofla Ass. Prof. Simon Dekeyser
Literature Reviews
20-07-2021
Details
 

While the allocation of human resources in audit firms is an important research topic, it has received scant research attention to date. Ideally, when audit firms aim at improving audit efficiency and effectiveness, audit firms should properly assign their clients to auditors who manage and lead the engagement team (so-called ‘lead auditors’ in this project) based on the auditor’s expertise level, industry specialization and other relevant factors that benefit audit efficiency and quality (Becker, 1974; Chatain & Meyer-Doyle, 2012; Durlauf & Seshadri, 2003). However, lead auditors and clients alike may have their own preferences whereby they try to intervene in the allocation process. These interventions may hamper audit quality and efficiency because other factors than proper matching enter into the allocation process. Prior research on workload allocation mainly focuses on the allocation of audit hours to specific audit engagements across staff ranks and how time pressure related to audit assignments may deteriorate audit quality. Only few studies explore the workload allocation process in terms of assigning clients to lead auditors and the consequences of this assignment for audit quality. Our project focuses on a number of factors related to the allocation of lead auditors within the audit firms.

Authors

Prof. dr. Eddy Cardinaels

Eddy Cardinaels (1975) is full Professor of accounting at Tilburg University and part-time professor at KU Leuven. His work combines new insights from psychology and behavioral economics to study how different information presentation (ABC, BSC, summaries of earnings releases) can affect decision making of managers within companies. Other experimental work focuses on drivers of honest reporting and social motives in inter-firm negotiations. He also conducts archival work on corporate governance examining how social connections between board members affect financial reporting, how companies use their networks to engage in tax avoidance and factors that drive (excess) compensation. 

Ruiqiong Zhang PhD student
Ass. Prof. Amin Sofla
Ass. Prof. Simon Dekeyser
FAR Literature Review: Management control in auditing firms and its implications for managing coexisting objectives
Drs. Sander Tiggelaar PhD student Prof. dr. ir. Paula van Veen-Dirks Dr. Sakshi Girdhar Prof. Breda Sweeney
Literature Reviews
16-07-2021
Details
 

While many organisations have coexisting goals, this is particularly true for auditing firms as they focus on professional as well as commercial objectives. Many studies find that auditing firms’ management control systems play a key role in the context of managing these professional and commercial objectives. While previous research increases our understanding of the relationship between the management control system and auditor behaviour, it typically only incorporates results-based controls (also referred to as output, diagnostic or cybernetic controls) such as the evaluation of financial performance. This stands in contrast to a large body of research which highlights that the management control system in auditing firms focuses relatively strongly on value-based controls (also referred to as socio-ideological or cultural controls) such as common beliefs and informal communication as well as on controls based on mentoring and training.

Authors

Drs. Sander Tiggelaar PhD student
Prof. dr. ir. Paula van Veen-Dirks
Dr. Sakshi Girdhar
Prof. Breda Sweeney