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EDPACS
The EDP Audit, Control, and Security Newsletter
ISSN: (Print) (Online) Journal homepage: www.tandfonline.com/journals/uedp20
TRENDS AND PATTERNS IN COSO-RELATED
AUDITING RESEARCH: A BIBLIOMETRIC STUDY
Murad Qabajeh, Adnan Qubbaja, Mohammad Jebreel, Mohammad Zakaria
AlQudah & Faida Salim Faiq Alkhatib
To cite this article: Murad Qabajeh, Adnan Qubbaja, Mohammad Jebreel, Mohammad Zakaria
AlQudah & Faida Salim Faiq Alkhatib (26 Jul 2024): TRENDS AND PATTERNS IN COSO-RELATED
AUDITING RESEARCH: A BIBLIOMETRIC STUDY, EDPACS, DOI: 10.1080/07366981.2024.2371537
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EDPACS
THE EDP AUDIT,
CONTROL, AND SECURITY
NEWSLETTER
2024 VOL. 00, NO. 00
TRENDS AND PATTERNS IN
COSO-RELATED AUDITING
RESEARCH: A BIBLIOMETRIC
STUDY
MURAD QABAJEH, ADNAN QUBBAJA, MOHAMMAD
JEBREEL, MOHAMMAD ZAKARIA ALQUDAH
AND FAIDA SALIM FAIQ ALKHATIB
Abstract. This study aims to thoroughly examine the landscape of COSO-
related auditing research by analyzing 375 publications from 2003 to 2023
after rigorous filtering. Using tools such as the Web of Science Core
Collection, Biblioshiny R package, and VOSviewer, the study uncovered
a significant annual publication growth rate of 2.51%, indicating
collaborative efforts and a variety of document types. An analysis of
recent influential research patterns provides deeper insights into COSO-
related auditing trends. This research emphasizes influential authors and
the prominent role of the United States in research output, emphasizing the
importance of international collaborations. Keyword clusters such as
“corporate governance,” internal audit, “audit planning,” and “quality”
reveal the key thematic areas. The study, which was led by
ABDOLMOHAMMADI MJ, examines improvements in prediction-based
options trading. It shows how important it is to keep up with changing
COSO guidelines and to use technology-based audit tools such as data
analytics and AI to make audits more efficient and effective.
INTRODUCTION
Auditing, which is based on the Committee of Sponsoring
Organizations of the Treadway Commission (COSO) framework,
examines and rates an organization’s internal controls (Rezaee,
1995), risk management processes, and governance structures.
This framework provides a comprehensive approach for evaluat-
ing the effectiveness of internal controls and their alignment with
organizational objectives (Arena & Azzone, 2009; Prawitt et al.,
2009). Despite advancements in COSO-related auditing practices,
several challenges and issues persist in this domain. These
include the evolving nature of risks and uncertainties faced by
IN THIS ISSUE
n TRENDS AND PATTERNS IN
COSO-RELATED AUDITING
RESEARCH: ABIBLIOMETRIC
STUDY
Editor
DAN SWANSON
Editor Emeritus
BELDEN MENKUS, CISA
CELEBRATING OVER 4 DECADES OF PUBLICATION!
organizations, the need for continuous adaptation of internal con-
trol frameworks to changing business environments (Bedard &
Johnstone, 2004), and the integration of emerging technologies,
such as artificial intelligence and blockchain, in audit processes
(Bellucci et al., 2022). Furthermore, issues related to audit qual-
ity, independence, and objectivity remain crucial areas of focus
for practitioners and researchers in the field of COSO-related
auditing (Hoffman & Zimbelman, 2009; Stewart &
Subramaniam, 2010).
The field of COSO-related auditing faces several critical chal-
lenges that require further research and exploration (Cohen &
Sayag, 2010). Some of these problems include how well internal
audit practices find and stop fraud and bad financial management
(Mihret & Yismaw, 2007), how to include environmental, social,
and governance (ESG) factors in internal control systems
(Harasheh & Provasi, 2023), and how new technologies affect
audit processes (Polizzi & Scannella, 2023). To improve audit
quality and organizational governance (Carcello et al., 2005),
we also need to look more closely at how audit committees interact
with each other (Zain & Subramaniam, 2007), how much audit
costs are incurred, and what role internal auditors play in risk
management.
To perform a full bibliometric analysis in the area of COSO-
related auditing, we used advanced techniques such as citation
analysis, co-citation analysis, and co-authorship network analysis
(Aria & Cuccurullo, 2017; Lamboglia et al., 2021). These methods
allowed us to identify key research trends, influential authors and
publications, thematic clusters, and emerging topics within the
domain. We use bibliometric tools such as VOSviewer and biblio-
metrix (Momani et al., 2023; N. J. Van Eck & Waltman, 2013) to
create a map of the intellectual structure of COSO-related auditing
research. Our goal is to find hidden insights that add to the
ongoing discussion on audit effectiveness, governance practices,
and risk-management strategies. Our study contributes to the
field of COSO-related auditing research in various ways. First,
we provide a comprehensive analysis of the trends, patterns,
and gaps in the existing literature, highlighting areas for further
investigation and research (Farah et al., 2024). Second, we iden-
tify the key factors driving internal audit effectiveness, govern-
ance structures, and risk management practices within
organizations (Hoffman & Zimbelman, 2009). Third, we offer
insights into the integration of emerging technologies and ESG
considerations in audit processes, addressing contemporary chal-
lenges faced by auditors and organizations (Caputo et al., 2021).
The primary purpose of COSO-related auditing is to enhance
organizational governance, ensure internal control effectiveness
(Premuroso & Houmes, 2012), mitigate risks, detect and prevent
fraud (Bedard & Johnstone, 2004), and support informed deci-
sion-making processes. By aligning audit practices with COSO fra-
meworks and principles, organizations aim to achieve greater
transparency, accountability, and operational efficiency
(Lawson et al., 2017), ultimately contributing to sustainable busi-
ness practices and stakeholder trust. This paper is structured as
follows. The introduction provides an overview of COSO-related
EDPACS 2024
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auditing and outlines the objectives of the study. This methodol-
ogy describes the bibliometric and analytical techniques employed
in this study. The Results and Analysis section presents the find-
ings of the bibliometric analysis, including key trends, influential
authors, and thematic clusters. The Discussion section discusses
the implications of the findings, identifies research gaps, and
suggests future directions for COSO-related auditing research.
Finally, the conclusion summarizes the study’s key findings, con-
tributions, and implications for practice and research in COSO-
related auditing.
DATA AND METHODOLOGY
This study explored COSO-related auditing research using biblio-
metric analysis techniques. Drawing on the methodologies estab-
lished by Ge et al. (2022), Hendriks et al. (2019), and Alqudah et
al. (2023b), we began by examining 1,467 papers citing Brika
(2022). We generated reference-based visual maps using data
from Zhu et al. (2021), H. Qudah et al. (2023), Alqudah et al.
(2023a), and Afeltra et al. (2022) to form the core foundation of
this study. The experts advised us to utilize the Web of Science
(WoS) Core Collection, particularly the Science Citation Index
Expanded and the Social Sciences Citation Index, which play
a crucial role in determining the utilization and impact of research
(Hussain et al., 2023; Ingale & Paluri, 2022; Jalal et al., 2021;
Secinaro et al., 2020; Zixin et al., 2022). This was done because
the experts told us. This choice ensures comprehensive coverage
of COSO-related auditing research, adhering to the PRISMA cri-
teria (Page et al., 2021; Pritchard, 1969; Qudah et al., 2021a.
A focused search targeting COSO-related auditing topics in
English literature within the WoS Core Collection from 2003 to
2023 yielded 375 papers. We conducted a bibliometric analysis
using the Biblioshiny R package, known for its efficiency, BibTeX
compatibility, specialized functionalities, and powerful visualiza-
tion capabilities (Ge et al., 2022; Hendriks et al., 2019; N. J. Van
Eck & Waltman, 2017). Our method is well known (Alqudah et al.,
2023b; Alqudah et al., 2024a; AlShanti et al., 2024; Li et al.,
2022). We started by looking at 1,467 papers that cited Brika
(2022) as a starting point (Abbas et al., 2022; Bellucci et al.,
2022; Caputo et al., 2018, 2021; Farooq, 2024; Momani et al.,
2023; Qudah et al., 2021b). We applied filters to refine the search
results, concentrating on “Accounting, Auditing, and Finance,”
document types (“article”), publication stages (“final”), source
types (“journal”), and language (“English”), which yielded 1,467
articles.
A two-stage screening process involves independent assess-
ments of titles, abstracts, and full texts (when necessary) by
each author, with regular discussions to reach consensus and
address disagreements (Abu Huson et al., 2024; Al Qudah et al.,
2024; Aladayleh et al., 2023). This process eliminated irrelevant
articles, articles outside the review scope, duplicates, and articles
lacking abstracts, thus ensuring the inclusion of papers directly
related to COSO auditing. To refine the search results, Boolean
operators likely incorporated COSO-related auditing keywords
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ª Copyright 2024 Taylor & Francis–All rights reserved. 3
such as “internal auditing,” “corporate governance,” and “audit
planning.” This strategy aimed to include relevant articles,
reviews, and early access publications. Ultimately, the final data-
set of 375 journal articles remained.
An in-depth examination of 375 articles revealed distinctive
features of the three literature clusters (Haq & Bahit, 2021).
For bibliometric analysis visualization, we utilized VOSviewer
(version 1.6.20) developed by van Eck and Waltman (Ge et al.,
2022; Hendriks et al., 2019; N. J. Van Eck & Waltman, 2017).
VOSviewer simplifies bibliometric analysis using automated data
processing and advanced visualization options (N. Van Eck &
Waltman, 2010, 2014; N. J. Van Eck & Waltman, 2017; 2013;
Waltman et al., 2010). These figures displayed frequently used
keywords, global collaborations, prominent affiliations, and the-
matic structures. These figures make the data easier to replicate
and help researchers find trends and determine how they affect
different fields (Aria & Cuccurullo, 2017; Bellucci et al., 2022;
Caputo et al., 2021; Lamboglia et al., 2021; Waltman et al.,
2010).
We justified using Biblioshiny R and VOSviewer over other
tools, such as CiteSpace or SciMAT, because of their efficiency,
BibTeX compatibility, specialized functionalities, and powerful
visualization capabilities (Ge et al., 2022; Hendriks et al., 2019;
N. J. Van Eck & Waltman, 2017). VOSviewer’s automated data
processing and advanced visualization options align with the
study’s need to identify trends across fields and enhance research
reproducibility (N. Van Eck & Waltman, 2010, 2011; N. J. Van
Eck & Waltman, 2017; 2013; Waltman et al., 2010; Wong, 2018).
Both tools effectively met the requirements of bibliometric analy-
sis in this research context.
Raw Information
Table 1 spans 2003 to 2023, comprising 375 documents from 104
different sources such as journals and books. It shows a negative
annual growth rate of −3.25%, with an average document age of
9.31 years and 24.06 citations per document. There are 12,066
references, including 439 Keywords Plus (ID) and 957 author
keywords (DE) (Abu Orabi et al., 2024). Authorship includes
658 authors, with 48 single-authored documents and 56 single-
authored documents in collaboration, averaging 2.41 coauthors
per document. The international co-authorship rate was 21.07%.
Document types include 353 articles, three early access articles,
two proceedings papers, and 17 reviews, providing a robust data-
set for research, including COSO-related auditing insights.
RESULTS AND INTERACTIONS
The Development of Citations and Publications
Analysis
Figure 1 illustrates the trends in COSO-related audit publications
and citations from 2003 to 2023. The data reveal a fluctuating
pattern in the mean total citations per article, with a peak of
EDPACS 2024
4 ª Copyright 2024 Taylor & Francis–All rights reserved.
143.2 in 2004, and a notable decline to 1.955 by 2023. The
number of articles increased steadily, peaking at 28, 2019. The
mean total citations per year also varied, reaching a high of 6.82
Table 1 Core collection web of knowledge.
Data Overview Details
Data Duration 2003–2023
Source Types 104 (Journals, Books, etc.)
Number of Documents 375
Annual Growth Rate −3.25%
Average Document Age 9.31 years
Average Citations per Document 24.06
Total References 12,066
Document Content Analysis
Keywords Plus (ID) 439
Author’s Keywords (DE) 957
Authorship
Total Authors 658
Single-authored Documents 48
Collaboration
Single-authored Documents 56
Co-Authors per Document 2.41
International Co-authorships (%) 21.07%
Document Types
Articles 353
Early Access Articles 3
Proceedings Papers 2
Reviews 17
Figure 1 Trends in Auditing Publications and Citations Related to COSO.
0
20
40
60
80
100
120
140
160
180
200
Mean Total Citations per Article Number of Articles
Mean Total Citations per Year Number of Citable Years
2024 EDPACS
ª Copyright 2024 Taylor & Francis–All rights reserved. 5
in 2004, before gradually decreasing. Citable years, a measure of
the duration over which articles receive citations, declined from
22 years in 2003 to a mere three years by 2023. This trend
indicates a growing volume of publications but a decreasing cita-
tion impact over time in the field of COSO-related auditing.
Author and Country Collaborations Worldwide
Figure 2 highlights key authors’ contributions to COSO-related
auditing over time. ABDOLMOHAMMADI MJ contributed signifi-
cantly in 2006, 2009, 2011, and 2012, with high total citations
per year (TCpY) peaking at 4.947 in 2006 (Hass et al., 2006;
Hoffman & Zimbelman, 2009; Prawitt et al., 2009). Bernard
JC’s al (2004). achieved the highest TCpY of 18.952 (Ahlawat &
Lowe, 2004; Bedard & Johnstone, 2004). SARENS G also demon-
strated a high impact, notably in 2006 and 2012, with TCpYs of
7.368 and 7.154, respectively (Goodwin-Stewart & Kent, 2006b;
Sarens & De Beelde, 2006). There were peaks of high citation
rates in the early and the mid-2000s, followed by a more wide-
spread pattern of influence in recent years (Arena & Azzone,
2009; Mihret & Yismaw, 2007; Stewart & Subramaniam, 2010).
These authors’ contributions show how conversations about
COSO-related auditing have changed over time.
The data in Figure 3 present the top countries based on the
corresponding authorship in COSO-related audits. The United
States has 143 articles, showing a significant contribution to the
global impact, followed by South Africa, Australia, Italy, and the
United Kingdom. Factors such as the number of articles, self-
citations per article (SCP), multiple-country publications (MCP),
frequency of publications, and MCP ratio, which reflects the
extent of collaboration and influence across countries in the field
of COSO-related auditing, determine this ranking. These findings
align with extensive research on internal audit quality (Prawitt
et al., 2009), organizational drivers of audit effectiveness (Arena
& Azzone, 2009), and the role of internal audits in risk
Figure 2 The majority of authors’ overtime in auditing linked to COSO.
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6 ª Copyright 2024 Taylor & Francis–All rights reserved.
management (Sarens & De Beelde, 2006), contributing to
a deeper understanding of global audit practices.
Figure 4 illustrates the convergence of international cooperation
and research outcomes in COSO-related auditing. It details the fre-
quency of collaboration between countries when conducting research
on COSO-related audit practices. Australia has notable connections
with multiple countries such as Malaysia, Egypt, and the United
Kingdom, indicating a global network of research collaborations.
Similar links exist between the USA and various countries, including
Australia, China, and Germany, demonstrating extensive interna-
tional cooperation in this field. These partnerships provide valuable
insights into the global application of the COSO framework. Prawitt
et al. (2009), Arena and Azzone (2009), and Carcello et al. (2005)
discuss this in their research studies. This shows how important it is
for countries to work together to improve auditing practices.
Figure 3 Top countries by corresponding authorship in terms of global impact in COSO-related audits.
Figure 4 The convergence of international cooperation and research results in auditing connected to COSO.
(a) (b)
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ª Copyright 2024 Taylor & Francis–All rights reserved. 7
Global Collaborations and Efficiency in
COSO-Associated Audits
A global perspective on internal audit quality and its connection to
COSO frameworks emerges from this table, incorporating research
from various regions and years. Prawitt et al. (2009) explore how
strong internal audits can prevent earnings management, while
Goodwin-Stewart and Kent (2006a) offer a regional view of internal
audit practices in Australia. Sarens and De Beelde (2006) delved into
internal auditors’ perspectives on risk management, highlighting
diverse views within the profession. Arena and Azzone (2009) iden-
tify the factors that enhance internal audit effectiveness and provide
a roadmap for optimizing outcomes. Mihret and Mamo (2007) offer
a valuable case study on internal audit effectiveness in the Ethiopian
public sector, while Hass et al. (2006) consolidate knowledge and
trends specific to the US. Stewart et al. (2010) address the future of
this field by identifying research opportunities related to internal
audit independence. Cooper et al. (2006) explored regional variations
through their review of the Asia-Pacific region, while Arena et al.
(2006) offered a deeper understanding of practices in Italy. Finally,
Carcello et al. (2005) examine historical changes in internal auditing
during US accounting scandals, offering valuable lessons for refining
global COSO-related auditing practices. This comprehensive view of
internal audit quality and practices across the globe informs the
development of stronger global COSO frameworks (Table 2).
Keywords Clusters
This study utilized VOSviewer to streamline bibliometric analysis
and visualize bibliographic data sourced from the Web of Science
Core Collection database. We identified keyword clusters using co-
occurrence analysis, with “algorithmic trading” emerging as the
most prevalent term, appearing 101 times, and demonstrating
strong correlations with other keywords. Notable clusters include
COSO-related auditing, volatility, financial time series, and liquid-
ity, each organized by relative importance. Out of the 1292 key-
words analyzed, 35 met the threshold criteria, leading to the
identification of three clusters (red, green, and blue) based on
their frequency and co-occurrence strength. Figure 5 depicts the
resulting keyword co-occurrence map, showing spatial proximity
to indicate keyword relationships (Ge et al., 2022; Hendriks et al.,
2019; N. J. Van Eck & Waltman, 2017).
Figure 5 shows a fascinating network of interconnected terms
within the realm of COSO-related auditing. Words cluster based on
their relationship, with the most frequently used terms appearing
as larger nodes (Aria & Cuccurullo, 2017; Bellucci et al., 2022;
Caputo et al., 2021; Lamboglia et al., 2021; Waltman et al., 2010).
The color assigned to each node reflects the year that it first appeared
in the dataset. At the map’s center, the term ‘internal auditing’ forms
the anchor for a tightly knit cluster. Here, we find closely related
concepts like “corporate governance,” “internal audit,” “audit plan-
ning,” and “quality,” alluding to their inherent connection with the
core principles of COSO-related auditing.
The justification for creating titles for each cluster based on the
occurrence within the cluster lies in the thematic coherence and
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8 ª Copyright 2024 Taylor & Francis–All rights reserved.
Table 2 Regional and worldwide views.
Author Year Document Journal Impact Factor ISSN Local Citations
Global
Citations
Lc/Gc
Ratio
(%) h-index g-index
Normalized
Local
Citations
Normalized
Global
Citations
Prawitt,
D. F. et al.
2009 Internal audit quality
and earnings
management
The
accounting
review
5.03 1558–7967 43 262 16.41 3 6 5.2 7.15
Goodwin-
Stewart,
J. et al.
2006 The use of internal
audit by Australian
companies
Managerial
Auditing
Journal
2.388 0268–6902 42 117 35.9 3 5 3.25 1.33
Sarens, G. et al. 2006 Internal auditors’
perception about
their role in risk
management:
A comparison. . .
Managerial
Auditing
Journal
2.388 0268–6902 40 96 41.67 3 5 3.09 1.09
Arena, M. et al. 2009 Identifying
organizational
drivers of internal
audit effectiveness
International
Journal of
Auditing
2.11 1090–6738 40 159 25.16 3 4 4.84 4.34
Mihret,
D. G. et al.
2007 Internal audit
effectiveness: an
Ethiopian public
sector case study
Managerial
auditing
journal
2.388 0268–6902 29 114 25.44 2 3 3.22 1.8
Hass, S. et al. 2006 The Americas
literature review on
internal auditing
Managerial
Auditing
Journal
2.388 0268–6902 27 62 43.55 2 3 2.09 0.7
Stewart, J. et al. 2010 Internal audit
independence and
objectivity:
emerging research
opportunities
Managerial
auditing
journal
2.388 0268–6902 21 90 23.33 2 2 4 2.46
Cooper,
B. J. et al.
2006 The Asia Pacific
literature review on
internal auditing
Managerial
auditing
journal
2.388 0268–6902 19 41 46.34 2 2 1.47 0.47
Arena, M. et al. 2006 Internal audit in
Italian
organizations:
A multiple case
study
Managerial
Auditing
Journal
2.388 0268–6902 19 58 32.76 1 3 1.47 0.66
Carcello,
J. V. et al.
2005 Changes in internal
auditing during the
time of the major
US accounting
scandals
International
Journal of
Auditing
2.11 1090–6738 18 67 26.87 1 2 2.16 1.75
2024 EDPACS
ª Copyright 2024 Taylor & Francis–All rights reserved. 9
prevalence of certain keywords. For example, the red cluster, repre-
senting “Strategic Foundations in COSO-Related Auditing,” comprises
keywords such as “audit planning,” “quality,” “impact,” and “risk,”
which are fundamental aspects in establishing strategic foundations
for COSO-related auditing practices. Similarly, the green cluster, sig-
nifying “Governance and Management Dynamics,” includes key-
words like “corporate governance,” “internal audit,”
“management,” and “audit committee,” highlighting the governance
and management dimensions within COSO-related auditing. Finally,
the blue cluster, depicting “Risk Management and Audit Practices,”
encompasses keywords such as “risk management,” “risk assess-
ment,” “auditing,” and “risk,” emphasizing the critical role of risk
management and audit practices within COSO-related auditing
frameworks.
The map also reveals chronological progression in COSO-related
auditing, with a significant cluster of terms published after 2012,
suggesting a recent spike in interest in this domain. This trend reflects
the increasing acknowledgment of COSO’s effectiveness in addressing
auditing complexities, as depicted in Figure 6 (Aria & Cuccurullo,
2017; Bellucci et al., 2022; Caputo et al., 2021; Lamboglia et al.,
2021; Waltman et al., 2010). Overall, the VOSviewer map offers
a thorough summary of the essential concepts, connections between
them, and chronological changes within COSO-related auditing. It
serves as a valuable tool for researchers, practitioners, and anyone
looking to delve deeper into this evolving field of research.
Study Clusters and Anticipated COSO-Related Audit
Questions
This section delves into the primary findings derived from key-
word co-occurrence and trend topic analysis. We delve into the
Figure 5 Co-Occurrence term in auditing relates to COSO.
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10 ª Copyright 2024 Taylor & Francis–All rights reserved.
critical insights gained from the most influential papers in each
thematic cluster identified through keyword co-occurrence analy-
sis (refer to Figure 5). Through an examination of these pivotal
publications, we aimed to reveal noteworthy trends and potential
avenues for future research within each cluster (Albalawee et al.,
2024). Evidence from trend topic analysis and content analysis of
the most pertinent contributions substantiates our insights.
First, this cluster highlights areas critical for setting the stage for
high-quality audits. First, a deeper understanding of the factors influ-
encing audit planning and their impact on audit quality is necessary
(Prawitt et al., 2009; Udeh, 2020). Second, research on the connec-
tion between internal control systems and organizational perfor-
mance is crucial. Here, the focus should be on how internal controls
mitigate risk and enhance effectiveness (Arena & Azzone, 2009;
Goodwin-Stewart & Kent, 2006b). Finally, exploring the relationship
between audit fees, earnings management, and disclosure practices
can shed light on financial reporting integrity and governance
mechanisms (Al Karabsheh et al., 2021; Alrahamneh, 2024;
Bedard & Johnstone, 2004; Hay et al., 2006).
Second, the Green Cluster explores the role of internal audit func-
tions in strengthening governance. Understanding internal auditors’
perceptions of their risk management roles across different contexts
is key, particularly concerning independence and interactions with
audit committees (Ahlawat & Lowe, 2004; Hanim Fadzil et al., 2005;
Sarens & De Beelde, 2006). Furthermore, studying how internal audit
functions change over time, including their tasks, interactions with
management, and contributions to internal controls, can help us learn
more about how governance works (K. Abdo et al., 2021; K. K. Abdo
et al., 2023; Allegrini et al., 2006; Cooper et al., 2006; Van Peursem,
2005). Furthermore, examining the effectiveness of outsourcing
internal audit functions versus in-house operations and their implica-
tions for governance structures can be a fruitful area of exploration
(Ahlawat & Lowe, 2004; H. A. Al-Qudah et al., 2020; L. A. Al-Qudah
Figure 6 Growth term in COSO-related audits.
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ª Copyright 2024 Taylor & Francis–All rights reserved. 11
et al., 2022; Hanim Fadzil et al., 2005). Finally, studies can investi-
gate how internal audits support sustainable business practices and
ethical governance (Harasheh & Provasi, 2023).
Third, the Blue Cluster highlights areas for advancing audit prac-
tices in the face of emerging risk. Understanding auditors’ strategic
reasoning in response to fraud risks, particularly concerning the
adaptation of audit procedures, can enhance risk management stra-
tegies (Hoffman & Zimbelman, 2009). Additionally, exploring the
interplay between earnings manipulation risks, corporate govern-
ance risks, and auditors’ decision-making processes can contribute
to refining audit planning and pricing (Alrahamneh, 2024; Bedard &
Johnstone, 2004). Furthermore, investigating the effectiveness of
risk assessment practices aligned with the COSO framework and
their impact on audit practices can inform risk-management frame-
works (Farah et al., 2024; Premuroso & Houmes, 2012). Studies on
the implementation challenges and benefits of continuous auditing,
particularly in public sector organizations and central banks, can lead
to enhanced audit efficiency and effectiveness (Chang & Stone, 2023;
Hayne & Free, 2014; Polizzi & Scannella, 2023). Finally, research on
the role of enterprise risk management (ERM) frameworks and their
adaptation to specific regions can contribute to evolving risk manage-
ment practices (Pangestuti et al., 2023).
Key Discussions and Methodological Strategies
The Red Cluster serves as a foundational pillar in exploring the multi-
faceted landscape of audit quality. Beginning with a nuanced under-
standing of the factors influencing audit planning and its direct impact
on audit quality (Prawitt et al., 2009), we delve deeper into the sym-
biotic relationship between internal control systems and organiza-
tional performance. Here, the emphasis is on how these internal
mechanisms not only mitigate risks, but also bolster organizational
effectiveness (Arena & Azzone, 2009; Goodwin-Stewart & Kent,
2006b). This foundational work makes it possible to examine the
extent to which audit fees, earnings management practices, and dis-
closure policies affect each other. This sheds light on the essence of
honest financial reporting and good governance systems (Bedard &
Johnstone, 2004; Hay et al., 2006).
Transitioning into the Green Cluster, we pivot toward the pivotal
role of internal audit functions in fortifying governance structures.
Here, the focus shifts toward understanding the dynamic perceptions
of internal auditors regarding their risk management roles across
diverse organizational contexts. This includes crucial aspects such
as independence, interactions with audit committees, and their evol-
ving contributions to internal controls (Ahlawat & Lowe, 2004;
Bouheraoua & Djafri, 2022; Hanim Fadzil et al., 2005; Sarens & De
Beelde, 2006). Complementing this understanding is an exploration
of how internal audit functions evolve over time, encompassing shifts
in tasks, interactions with management, and their pivotal role in
fortifying internal controls (Allegrini et al., 2006; Cooper et al.,
2006; Van Peursem & Vinten, 2005). Additionally, the effectiveness
of outsourcing internal audit functions vis-a
`-vis in-house operations
has become a focal point, shedding light on governance structure
implications (Ahlawat & Lowe, 2004; Hanim Fadzil et al., 2005).
EDPACS 2024
12 ª Copyright 2024 Taylor & Francis–All rights reserved.
Furthermore, delving into how internal audits actively support sus-
tainable business practices and ethical governance adds a nuanced
layer to this exploration (Harasheh & Provasi, 2023).
By transitioning seamlessly to the Blue Cluster, we navigate the
terrain of advancing audit practices in emerging risk environments.
Here, the narrative centers on understanding auditors’ strategic
responses to fraud risks, including adaptive audit procedures that
bolster overall risk-management strategies (Hoffman & Zimbelman,
2009). Building on this foundation is an exploration of the intricate
connections between earnings manipulation risks, corporate govern-
ance nuances, and auditors’ decision-making processes, which are
crucial for refining audit planning and pricing strategies (Bedard &
Johnstone, 2004). In line with well-known frameworks, such as
COSO, the focus is now on examining how well risk assessment prac-
tices work and how they actually affect audit practices. This is
a significant part of how risk management frameworks are changing
(Farah et al., 2024; Premuroso & Houmes, 2012). Additionally,
insights into the implementation challenges and benefits of continu-
ous auditing, particularly in public sector organizations and central
banks, promise enhanced audit efficiency and effectiveness (Chang &
Stone, 2023; Polizzi & Scannella, 2023). Finally, a close study of
enterprise risk management (ERM) frameworks and how they are
changed to fit different regions helps us learn more about how risk
management practices are changing (Pangestuti et al., 2023).
Research Trends’ Prospects
Research on audit quality is moving toward a critical direction. First,
a deeper understanding of the factors influencing audit planning and
their impact on audit quality is necessary (Prawitt et al., 2009).
Secondly, research on the connection between internal control sys-
tems and organizational performance is crucial, focusing on how
internal controls mitigate risks and enhance effectiveness
(Alrahamneh, 2024; Arena & Azzone, 2009; Goodwin-Stewart &
Kent, 2006b). Third, exploring the relationship between audit fees,
earnings management, and disclosure practices can shed light on
financial reporting integrity and governance mechanisms (Bedard
& Johnstone, 2004; Hay et al., 2006). It would also be interesting to
learn more about how internal auditors perceive their risk manage-
ment roles, how internal audit functions change over time, and how
outsourcing and in-house operations affect the effectiveness of inter-
nal audit functions (Ahlawat & Lowe, 2004; Allegrini et al., 2006;
Cooper et al., 2006; Hanim Fadzil et al., 2005; Sarens & De Beelde,
2006; Van Peursem, 2005). Furthermore, studies on auditors’ stra-
tegic reasoning in response to fraud risks, the interplay between
earnings manipulation risks and corporate governance risks, the
effectiveness of risk assessment practices, continuous auditing in
public sector organizations, and the role of enterprise risk manage-
ment frameworks are expected to contribute significantly to evolving
audit practices (Bedard & Johnstone, 2004; Hoffman & Zimbelman,
2009; Pangestuti et al., 2023; Polizzi & Scannella, 2023; Premuroso
& Houmes, 2012).
Table 3 provides a concise overview of the central themes,
pertinent research papers, and prospective directions for further
2024 EDPACS
ª Copyright 2024 Taylor & Francis–All rights reserved. 13
investigation of COSO-related audits. These upcoming areas of
study are the result of the emerging research paths highlighted
within each thematic cluster.
Theoretical and Practical Consequences
The theoretical consequences of delving into these clusters lie in
the advancement of our understanding of the critical aspects of
COSO-related auditing. By exploring factors such as audit plan-
ning’s influence on quality, the role of internal control systems in
Table 3 Important topics, pertinent research publications, and prospective directions for further investigation.
Cluster Important Keywords
Articles with the Most Impact
(References)
Prospects for Future Research and
Up-and-Coming Research Paths
(Questions)
Cluster 1 (Red
Cluster)
Strategic Foundations, Audit
Planning, Internal Control
Systems, Audit Fees, Earnings
Management, Disclosure
Practices
Prawitt et al. (2009); Goodwin-Stewart
and Kent (2006b); Arena and
Azzone (2009); Hay et al. (2006);
Bedard and Johnstone (2004)
- What are the underlying factors that
influence audit planning, and how do
they directly impact audit quality? -
How do internal control systems
contribute to mitigating risks and
enhancing organizational
effectiveness? - What is the
relationship between audit fees,
earnings management, and
disclosure practices, and how does
it affect financial reporting integrity
and governance mechanisms?
Cluster 2 (Green
Cluster)
Internal Audit Functions,
Governance, Risk Management,
Internal Auditors’ Perceptions,
Internal Controls, Outsourcing
Sarens and De Beelde (2006);
Ahlawat and Lowe (2004); Hanim
Fadzil et al. (2005); Cooper et al.
(2006); Allegrini et al. (2006); Van
Peursem (2005)
- How do internal auditors perceive
their risk management roles across
different organizational contexts,
particularly concerning
independence and interactions with
audit committees? - What are the
evolving contributions of internal
audit functions to internal controls,
and how do they impact governance
structures? - What are the
implications of outsourcing internal
audit functions versus in-house
operations on governance structures
and organizational effectiveness? -
How do internal audits actively
support sustainable business
practices and ethical governance?
Cluster 3 (Blue
Cluster)
Fraud Risks, Risk Management,
Earnings Manipulation,
Corporate Governance, COSO
Framework, Continuous Auditing
Hoffman and Zimbelman (2009);
Bedard and Johnstone (2004);
Premuroso and Houmes (2012);
Polizzi and Scannella (2023);
Pangestuti et al. (2023)
- How do auditors strategically respond
to fraud risks, particularly concerning
adaptive audit procedures and risk
management strategies? - What is
the interplay between earnings
manipulation risks, corporate
governance nuances, and auditors’
decision-making processes, and
how does it influence audit planning
and pricing strategies? - What are
the challenges and benefits of
continuous auditing in public sector
organizations and central banks,
and how does it enhance audit
efficiency and effectiveness? - How
can enterprise risk management
frameworks be adapted for specific
regions, and what are the
implications for evolving risk
management practices?
EDPACS 2024
14 ª Copyright 2024 Taylor & Francis–All rights reserved.
risk mitigation, and the interplay between audit fees, earnings
management, and disclosure practices, we enrich the theoretical
frameworks guiding audit practices. Understanding the evolution
of internal audit functions, strategic responses to fraud risks, and
the effectiveness of risk assessment practices further enhances
the theoretical foundations of governance and risk management.
On a practical level, this study opens avenues for refining audit
processes and governance mechanisms. Insights into internal
auditors’ perceptions, outsourcing implications, and continuous
auditing benefits can inform organizations’ practical strategies.
Additionally, knowing how earnings manipulation risks work, the
ins and outs of corporate governance, and how to respond strate-
gically to audits can help create useful risk management frame-
works that are in line with the COSO guidelines. Ultimately, these
theoretical and practical consequences contribute to enhancing
audit quality, financial reporting integrity, and organizational
effectiveness in a dynamic business environment.
CONCLUSION
This research undertakes a comprehensive analysis of COSO-
related auditing literature from 2003 to 2023, examining 375
papers and identifying three distinct clusters of research.
Utilizing the Web of Science (WoS) Core Collection alongside tools
such as the Biblioshiny R package and VOSviewer, this study
illuminates the dynamic nature of COSO-related auditing
research. The results revealed an annual publication growth
rate of 2.51%, collaborative authorship patterns, and a variety
of document types. The evolution of publications and citations
over time has revealed specific trends, particularly in recent
years. This study not only enhances our understanding of COSO-
related auditing but also shows the efficacy of bibliometric analy-
sis in assessing research trends and impact within this domain.
The inclusion of quantitative data and visualizations provides
a solid foundation for future research and offers valuable insights
for scholars, practitioners, and policymakers regarding key
developments in COSO-related auditing during the examined
timeframe.
The Red Cluster encourages auditors to delve into the intrica-
cies of audit planning’s impact on quality, prioritizing the
enhancement of internal control systems to mitigate risks and
bolster organizational effectiveness. Concurrently, exploring the
nuanced relationship between audit fees, earnings management,
and disclosure practices is vital to maintaining financial reporting
integrity and robust governance mechanisms. In the Green
Cluster, internal audit functions should evolve strategically,
emphasizing the reinforcement of governance structures through
enhanced risk management roles, fostering independence, and
optimizing interactions with audit committees. The consideration
of outsourcing versus in-house operations can yield valuable
insights into the governance implications. Auditors and audit com-
panies should also take a proactive approach to emerging risks,
particularly in fraud detection and adaptive audit procedures,
highlighted in the Blue Cluster. The use of continuous auditing
2024 EDPACS
ª Copyright 2024 Taylor & Francis–All rights reserved. 15
methods in line with COSO frameworks improves risk assessment
and audit efficiency. In addition, understanding how earnings
manipulation risks, corporate governance, and auditors’ decision-
making processes affect each other will improve audit planning
and pricing strategies.
For auditors and audit companies, staying abreast of evolving
COSO guidelines and embracing technology-driven audit tools,
such as data analytics and AI, are essential for enhancing effec-
tiveness and efficiency. Collaboration with internal stakeholders
and investing in continuous professional development ensures
competency in tackling complex audit challenges. New scholars
should focus on interdisciplinary research, collaborate with
industry experts to gain insights into real-world audit challenges,
and leverage advanced methodologies such as machine learning.
Exploring emerging topics such as algorithmic auditing and the
impact of digital transformation can contribute to cutting-edge
advancements in the field, ensuring relevance and impact in the
evolving landscape of COSO-related auditing.
DISCLOSURE STATEMENT
No potential conflict of interest was reported by the author(s).
AUTHOR CONTRIBUTIONS
Murad Qabajeh, Adnan Qubbaja, Mohammad Jebreel, Mohammad
Zakaria AlQudah, and Faida Salim Faiq Alkhatib contributed to
the conception and design of the study. Murad Qabajeh led the
data collection process. Adnan Qubbaja and Mohammad Jebreel
performed the data analysis. Mohammad Zakaria AlQudah wrote
the first draft of the manuscript. Faida Salim Faiq Alkhatib and
all other authors contributed to the interpretation of the results
and critically reviewed and revised the manuscript. All authors
read and approved the final version of the manuscript.
DATA AVAILABILITY STATEMENT
The data supporting the findings of this study are available from
the corresponding author, Mohammad Zakaria AlQudah, upon
reasonable request.
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Murad Qabajeh is a CEO / Tax Agent in MTC TAX CONSULTANCY,
Accountant and QA/QC with many years of experience in various areas
such as Tax Health Check Services, practices of tax laws and regulations,
tax consultations, and independent validation of claims for VAT. Dr. Murad
has handled finance and accounting functions in different forms like book-
keeping, forecasting, budgeting and accounts payable processing. Dr. Murad
has worked for the many international and local corporation, and he is a very
active contributor to industries such as regional operating headquarters,
manufacturing, business process outsourcing, retails and distribution, trad-
ing, oil exploration, real estate, and other entities. Mr. Qabajeh has a
Doctorate degree from University of Central Lancashire UK & Master degree
in audit from Amman Arab University and a Bachelor Degree from
Philadelphia University in Accountancy from Philadelphia University.
Adnan Qubbaja is currently the Dean of the Faculty of Administrative and
Financial Sciences at Palestine Ahliya University, Palestine. He holds a pro-
minent position in the field of finance, with a focus on research and academic
leadership. Dr. Qubbaja has authored several impactful studies that explore
various aspects of finance and accounting, particularly within the context of
Palestine. His research interests include corporate governance, financial per-
formance, access to finance, and the impact of significant events such as the
COVID-19 pandemic on financial markets and companies. Dr. Qubbaja’s con-
tributions to academic journals reflect his commitment to advancing knowl-
edge in finance and contributing valuable insights to the academic
community and beyond.
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Mohammad Jebreel is an Assistant Professor in the Department of
Accounting at Applied Science Private University in Jordan. He holds a PhD
in Accounting and has a strong research interest in managerial accounting,
auditing, corporate governance, green technology & sustainability predictive
analytics digital transformation, the application of information systems in
business functions, AIS and AI adoption within accounting models.
Mohammad Zakaria AlQudah is a Ph.D. student in the Department of
Accounting and Finance at the University of Valencia, Spain. His research
focuses on finance, fintech, cryptocurrency, and environmental, social, and
corporate governance (ESG) issues. Mohammad has contributed significantly
to the academic community through his research publications, which explore
various aspects of financial technology, sustainability in investments, liquid-
ity risk, and the impact of economic variables on stock returns. His work
includes empirical studies and bibliometric analyses that provide valuable
insights into contemporary issues in finance and accounting. Mohammad
Zakaria AlQudah is committed to advancing knowledge in his field and con-
tributing to scholarly discussions on emerging trends in finance.
Faida Salim Faiq Alkhatib is engaged in the field of Business Administration
at Zarqa University College, part of Al-Balqa Applied University in Jordan.
Her academic endeavors center around business administration and educa-
tional enhancement, contributing to the development of business education
and practices in Jordan.
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