2017B02 – Audit production

Wat?

This project studies how the design of a client’s accounting information system (AIS) affects audit production, efficiency, and audit quality. It examines whether certain AIS designs allow audits to be performed more efficiently while still maintaining high audit quality, and how those designs influence the overall economics of the audit.

Waarom?

Audit firms face ongoing pressure to deliver high-quality audits efficiently. Understanding how AIS design impacts audit effort, quality, and pricing helps auditors make better planning decisions, allocate resources more effectively, and evaluate how technology investments influence audit value for both firms and clients.

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15 november 2019Publicatie

Audit Production

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24 januari 2019Publicatie

Audit Production

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Audit Production

Production is the process by which inputs are transformed into outputs through factors of production. In the case of an audit, audit effort (labor and time) is expended to produce assurance over client financial statements. As is typical for services, labor is the most important factor in the production of audits. Although audit production is crucial to understanding the economics of auditing, the literature on audit production is sparse due to the difficulty of observing and measuring the factors of production. Specifically, the lack of access to internal audit firm information makes it difficult for researchers to observe and measure production inputs. Moreover, the credence good nature of an audit makes it difficult to observe audit output (i.e., the level of assurance).

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Audit Production

Production is the process by which inputs are transformed into outputs through factors of production. In the case of an audit, audit effort (labor and time) is expended to produce assurance over client financial statements (O’Keefe, Simunic, and Stein 1994). As is typical for services, labor is the most important factor in the production of audits. Although audit production is crucial to understanding the economics of auditing, the literature on audit production is sparse due to the difficulty of observing and measuring the factors of production. Specifically, the lack of access to internal audit firm information makes it difficult for researchers to observe and measure production inputs. Moreover, the credence good nature of an audit makes it difficult to observe audit output (i.e., the level of assurance).

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