Science topic
Financial Audit - Science topic
Financial Audit is an examination, review and verification of all financial accounts.
Questions related to Financial Audit
Greetings to my fellow members of the academic research community,
My academic journey as a PhD student has presented me with a significant challenge. I've long aspired to join a research laboratory where scientific activities are conducted with genuine enthusiasm and dedication. My passion lies in the pursuit of knowledge and engaging in intellectual discourse with fellow researchers who share my enthusiasm for scientific exploration. Regrettably, my attempts to establish connections with various research laboratories, universities, and distinguished professors have not yielded the anticipated results.
Despite my unwavering commitment to highlighting the availability of financial support from my institution, the responses have been somewhat limited. I've observed that colleagues from different academic institutions readily establish connections with research laboratories and professors, although it appears that their intentions often lean towards short-term engagements rather than meaningful contributions to laboratory work and the broader scope of scientific research.
These colleagues seem to effortlessly secure acceptance letters from these research laboratories, prompting the question: What factors contribute to this noticeable difference in response? I humbly seek your guidance in shedding light on the underlying reasons for this discrepancy. Additionally, I would greatly appreciate any insights, advice, or strategies you may offer to increase the likelihood of receiving acceptance letters that genuinely reflect an interest in my research pursuits and pave the way for long-term collaborative relationships.
I thank you for your invaluable assistance and wisdom.
What are the possibilities for applications of artificial intelligence and Big Data Analytics in carrying out multi-criteria economic and financial analyses of business entities, analyses carried out on computerised Business Intelligence platforms?
What are the potential applications of machine learning, deep learning, artificial intelligence, Big Data Analytics and other Industry 4.0 technologies in conducting multi-criteria economic and financial analyses of the historical and current performance of economic entities and making predictions about the future development of their business, analyses carried out on computerised Business Intelligence platforms?
As a result of technological advances, the potential for the application of machine learning, deep learning, artificial intelligence, Big Data Analytics and other Industry 4.0 technologies to perform multi-criteria economic and financial analyses of the historical and current functioning of businesses and to make predictions about the future development of their business, analyses carried out on computerised Business Intelligence platforms, is rapidly increasing. New ICT information technologies and Industry 4.0, including Artificial Intelligence, Machine Learning, Deep Learning, Big Data Analytics but also Data Science, Smart Technologies, Cloud Computing, Machine Learning, Personal and Industrial Internet of Things, Autonomous Robots, Horizontal and Vertical Data System Integration, Multi-Criteria Simulation Models, Digital Twins, Additive Manufacturing, Blockchain, Cyber Security Instruments, Virtual and Augmented Reality and other Advanced Data Mining technologies support the management processes of a company, enterprise or financial institution. In recent years, the aforementioned new technologies are helping to improve the management processes of supply logistics, procurement, production, service offering; marketing communication and customer relationship management; risk management; cyber security management; economic and financial analysis management, financial auditing, etc. Therefore, within the framework of the technological advances taking place, including the increasing computational capabilities of successive generations of processors and operational memory installed in computers, increasing disk capacities, storage media, increasing data transfers, etc., the possibilities of applying artificial intelligence and Big Data Analytics in carrying out multi-criteria economic and financial analyses of business entities, analyses carried out on computerised Business Intelligence platforms, are successively increasing. Consequently, the possibilities for the application of multi-criteria analytics carried out on computerised Business Intelligence platforms are also increasing year on year, which also contributes to the improvement of organisational management processes.
In view of the above, I address the following question to the esteemed community of scientists and researchers:
What are the possibilities for the application of Machine Learning, Deep Learning, Artificial Intelligence and Big Data Analytics and other Industry 4.0 technologies in carrying out multi-criteria economic and financial analyses of the historical and current performance of business entities and making predictions about the future development of their business, analyses carried out on computerised Business Intelligence platforms?
What do you think about this topic?
What is your opinion on this subject?
Please respond,
I invite you all to discuss,
Thank you very much,
Best wishes,
Dariusz Prokopowicz

One of the main differences between Financial Audit and Forensic Audit is that the Financial Audit gives the guarantee that the financial statements that have been checked are true and fair and are reasonable whereas, Forensic Audit helps to analyze and investigate a certain set of transaction, if any fraud has been occurred.
The goal of this project is to set the record straight as much focus have been on the Financial Audit as the Fraud Detector.
The questions are: 1. Who then is the Fraud Detector, a Financial Auditor or a Forensic Auditor?
2. Why are Financial Auditors liable if failed in their audit duty to detect fraud within an organization?
Which is best for fraud control? Internal audit vs External audit, Pre-audit vs Post-audit, Performance audit vs Financial audit?
The analytics conducted on computerized Business Intelligence platforms is one of the key advanced information technology technologies of the fourth technological revolution, known as Industry 4.0.
The current technological revolution, known as Industry 4.0, is determined by the development of the following technologies of advanced information processing: Big Data database technologies, cloud computing, machine learning, Internet of Things, artificial intelligence, Business Intelligence and other advanced data mining technologies.
The analytics conducted on computerized Business Intelligence platforms currently supports business management processes, facilitates identification of opportunities and threats to business development, allows for quick generation of analytical reports on selected issues in the economic and financial situation of the business entity.
Do you agree with my opinion on this matter?
In view of the above, I am asking you the following question:
What future applications of analytics will be developed on computerized Business Intelligence platforms?
Please reply
I invite you to the discussion
The issues of the use of information contained in Big Data database systems for the purposes of conducting Business Intelligence analyzes are described in the publications:
I invite you to discussion and cooperation.
Best wishes

Have the procedures for the development of reports and recommendations by the rating agencies already been improved compared to the situation before the global financial crisis of 2008?
Are the reports and recommendations issued by the rating agencies more honestly developed, in accordance with the principles of business ethics, have the procedures for their development and the objective information policy been improved and still function as before the global financial crisis of 2008?
Please reply
I invite you to the discussion
Thank you very much
Best wishes

What are the methodological differences in the processes of examining economic effectiveness or specific selected issues, aspects in the scope of analyzing the effectiveness of a given business activity in a situation of comparison of analyzes carried out for small enterprises and large business entities conducting diversified economic activities?
For small business entities representing the SME sector, those operating in one area of economic activity, the simplest solution is to select economic and financial indicators relevant to the needs, which determine specific issues of efficiency, eg fixed assets, current assets or other classified capital categories, production factors. It is also possible to analyze and measure the effectiveness of specific processes in an enterprise, the effectiveness of measures, specific investment projects, efficiency of logistics processes, work efficiency of employees, etc. For each of the mentioned types of effectiveness tests other economic or financial indicators are used.
However, in the situation of the analysis of complex, multi-factorial processes realized with economic entities, multifaceted processes covering various spheres of activity of a specific enterprise, covering the entirety of a large enterprise operating in various business areas and with the involvement of much larger financial resources for conducted economic efficiency analyzes, then they should Complex indicator models built from many interrelated economic, financial and other indicators can be used.
A good solution in this situation is the involvement of Business Intelligence technology using large data sets describing the functioning of a specific large enterprise, gathered in Big Data database systems. In addition, advanced data processing and analysis can be made using cloud computing technology. In addition, access to data, data update and commissioning of specific analyzes of economic performance research can be carried out from the level of mobile devices, i.e. through the use of the Internet of Things technology.
Do you agree with me on the above matter?
In the context of the above issues, I am asking you the following question:
What are the methodological differences in the processes of examining economic effectiveness or specific selected issues, aspects in the scope of analyzing the effectiveness of a given business activity in a situation of comparison of analyzes carried out for small enterprises and large business entities conducting diversified economic activities?
Please reply
I invite you to the discussion
Thank you very much
Best wishes

Big Data Analytics has revolutionized various sectors.Let us explore its impact on accounting, auditing and financial reporting
Almost one year after the application of IFRS 9, we can carry out ex-post analyzes on the "Business Model" envisaged by this principle, which came into force in January 2018 to precisely understand how to objectively identify the business model and then apply it optimally in the IFRS 9
Can you use Business Intelligence analytics for research into any type of business, including those run by innovative, technological startups?
Can Business Intelligence analytics be used to research and analyze the effectiveness of business operations carried out by innovative technological startups?
Are expensive computerized systems and analytical platforms on which Business Intelligence analytics tools are built are currently also available for business entities functioning as innovative, technological startups?
The first computerized systems and analytical platforms on which the Business Intelligence analytics tools were built were, due to the high construction costs of these systems, available mainly to large enterprises, corporations and financial institutions. However, as part of technical progress in IT and the dissemination of business analytics tools, successively computerized systems and analytical platforms on which Business Intelligence analytics tools are built are also available for smaller companies, currently mainly located in the SME sector.
Currently, IT companies that produce ready-made multi-functional, multi-module computerized systems and analytical platforms Business Intelligence also create versions dedicated to specific types of business entities representing also the SME sector. Informatized systems and analytical platforms on which Business Intelligence analytics tools are built facilitate the ongoing economic and financial analyzes of business entities and are helpful in the process of company management. I described the above issues in my scientific publications, to which links are given below.
Do you agree with my opinion on this matter?
In view of the above, I am asking you the following question:
Is it possible to apply Business Intelligence analytics to the study of business activities of innovative startups?
Please reply
I invite you to the discussion
Dear Colleagues and Friends from RG
The key aspects and determinants of applications of data processing technologies in Big Data database systems are described in the following publications:
I invite you to discussion and cooperation.
Best wishes

Limited research performed indicate that the student's reading skills including analytical analysis and comprehension of decrease as they progress in the years of study. In the past the students were subjected to a generic reading programme only in their first year.
Any contributions on how to improve their reading skills and experiments performed on Financial auditing.
I will do an Internship at one of the big four at Financial services. I'm free to choose any audit topic.
The role of internal and external audit to prevent and detect financial statement fraud.
How can external and internal audit prevent and detect fraud in financial statement.
I want papers pdf about the effect of auditing the financial statements in NGOs on their performance
Is there any any possibilities to find some context to make all certification be equal in term of importance?
Stagliano and Sillup (2014) conducted a case study centered on assessing the impact of Securities and Exchange Commission (SEC) cybercrime disclosure guidance on reporting corporations. By which, they questioned the largest publicly held firms in the United States pharmaceutical industry. From a financial perspective, the researchers’ total questioned corporations held 96.1% of 2011 reported industry assets and received 96.9% of 2011 industry revenues. Resultantly, the author concluded that little had changed over the previous five years regarding financial disclosure of cybercrime risks by management. The authors demonstrated United States SEC registrants are prone to ignore or disregard the guidance for additional disclosures in their regulatory filings.
References
Stagliano, A. J., & Sillup, G. P. (2014). Transparency and risk assessment reporting: A case study sector survey of cybercrime disclosures. Journal of Business and Economics, 5, 1134-1140. doi:10.15341/jbe(2155-7950)/07.05.2014/017
I am running an event study for the US M&As. Some stocks have complete data but some of them have less data. How to deal with this issue while preparing data for the event study.
Could anyone recommend a database where I can find a proper archival data about Internal Audit Functions in Australian listed companies?
Hello everyone,
I am considering a potential research project based on an archival data about Internal Audit Functions (IAF), Audit Committees (AC) and other corporate governance functions in Australian companies. I want to know the number of the defined population to decide the feasibility of regression analysis. Thus, I need some key statistics such as the number of listed companies that have an IAF and AC, their structures, and reporting mechanisms of IAF.
Is there a database or a particular way of collecting such information or the full data (other than a survey)?
I sincerely appreciate your help,
Hamed
With the passage of time the market conditions have changed. Like the accounting measures such as the current assets, the fixed assets or the total debt of a firm now in 2016 is very different than those in 1980's or 1990's. If we talk about general market conditions or the market as a whole what sort of conclusion can we infer?
Do the total asset of firms increased/decreased?
Do the total liabilities of firm increased/decreased?
does the market capitalization of the overall market increase/decreased?
Dear all,
An increasing number of listed firms are using XBRL in the reporting process.Would this complicate the audit approaches and audit implications?
Also, in the auditees' perspectives, what is the costs-benefits of using XBRL? Please share your views, experiences and thoughts, thanks
Background:
Since 2004, the Securities and Exchange Commission (SEC) expects firms to use eXtensible Business Reporting Language (XBRL) to file their reports. This helps tag a firm’s financial information using a computer readable and searchable engine. Investors are demanding assurance on the tagging process but the Public Company Accounting Oversight Board (PCAOB) has yet to issue a guidance on attesting the engagements regarding XBRL financial information furnished under the SEC’s current voluntary filer program, which relies on the auditor agreeing a paper version of the XBRL-related documents to the information in the official EDGAR filing. This approach is deemed adequate for the current paper-oriented reporting paradigm but once the filing in XBRL becomes mandatory, this will affect the way financial and non-financial data are reported, used and attested. The current audit focus on reconciling only the XBRL output with the paper submissions may not completely address this paradigm shift and may add costs to the rising audit costs and delays of issuing audit opinions.
I have a firm with several events in a year so that the event window of one event overlapps with the estimation window of another event. How do I deal with that? Do I need to leave the events out that have an other event in their estimation window?
How can access data on audit fees charged by audit firms to LISTED banks operating in Africa? I need the past 12 years data on audit fees in Africa and would appreciate if one can assist where to locate such a data base.
Does any one know if there is a LISTED bank in Africa not audited by any of the big 4 auditors? It appears the big 4- Delloite,PWC,Ernst and Young and KPMG dominate this field. For the risks in banks, do firms get out of these big 4 even where they have made some mistakes?
Regards
Erick Outa
The new ISA for auditor reports required the addition of new sections including other matters and going concern issues what criteria can auditors apply to ensure still a short auditor reports ?
How do you see the possible practical application of a balanced scorecard for auditing firms? Can you provide references for published articles or research studies in this respect?
the percentage of financial restatement was increasing 17 times from 1996-2004 however the recent data from audit analytics showed that there's been declining of impactful restatement as much as 22% from 2010-2014. Since reputation nowadays place in first rank into management concern, was it possible that before 2004 the managers haven't been concerned that much about their reputation once they do restatement? thanks
Tax audit as the critical review of the tax situation of a physical person or legal entity with a view to formulating an appreciation. Because their transactions are so numerous and complicated, both the companies and the tax auditors must rely on strong internal controls to ensure that information is classified and recorded properly for tax purposes According to Krishnan et al. (2013) find that Auditor provides tax services are connected with earnings management in the firm. In the same way the authors assumed that the auditor how provides tax services can improve financial reporting and audit quality. Few of literature review propose the discussion between auditor-provided tax services audit non-auditor provided tax services post-SOX. Maydew and Shackelford (2006) find the ratio of tax fees to audit fees change between 2001 to 2004 respectively from 1 to 0.25.
I want use 6-months financial data of some companies financial reports to create an DEA model. Suppose that we have these financial reports:
6-2013
12-2013
6-2014
12-2014
6-2015
12-2015
We can use data extracted from these financial reports in DEA? Suppose that we need "Labor Costs" in DEA. The labor costs value for 6-2013 is 160,000$, the labors costs for 12-2013 is 300,000$, 6-2014 value is 164,000$ and finally the labor costs for 12-2014 is 310,000$. You can see that labor costs for 6-2013 is comparable with 6-2014 and labor costs for 6-2013 is labor costs from first day of 2013 until 2013 mid-year but labor costs of 12-2013 is full year labor costs (certainly higher value comparing to 2013 mid-year).
We can use this data in DEA or we should only use yearly financial reports?
Please can you share some research paper about the relation between tax audit and internal control in the firm
Is there any review paper or exactly related paper available on social networks of directors or auditors in audit research?
thank you
I am going to study the effect of the auditors industry specialization on audit risk.
Fiscal Board is a specific and independent board for monitoring financial statements, different from auditing board, because they shall be fully composed by independent members on supporting minority shareholders, in addition to others features.
Which methods can I apply? Which variables can I choose as enterprise risk management?
Dear all
Currently i am doing a research on budget management and control in one public hospital. As such, one of my objectives is to examine the differences between budgeted and actual performances in the hospital if any, and to find out some possible causes for the existing differences. But the the budget report of the hospital is unaudited. It has not been audited by independent external auditors such as Office of Auditor General (OFAG) or any other authorized private auditors. My question is, is it advisable to use the budget report as a secondary data for my analysis? Will it jeopardize trustworthiness or credibility of the study in any way?
Do you professional skepticism to the Auditor of recent trends in auditing research?
What are the ways that the MASB can improve on the financial reporting standard in Malaysia?
Hi everybody,
I have the following problem. I must evaluate the post-acquisition success and identify (estimate) the real synergies from historical accountant data and cargo volume data. The merger (one seaport) have bought 10% share of another company, specialized for rail cargo transport. The deal was done in 2008 on the basis of positive valutation report of audit financial advisory company. The Cash Discount Flow methodology was used for future projection of synergy (about 40 Mio EUR) for post- acquisition period. But afterwards, in 2014 the revision was carried out which implied that the value of synergies was deeply overestimated and there is no evidence of any synergies. Since the management is now jeopardized to be prosecuted, I am interested in which methodology would be most convenient for evaluation of real synergies. I know that there exist some methods from the field of financial economics, such as estimation of abnormal return (which is correlated with long-term financial performance, see Healy et al., 1992), accountant methods, etc. Would be instead possible to apply some other (statistical, econometrics, or system dynamics) approach, which would be based on model related to past accountant data (revenues, assets, cash flow, equity, etc.) of both firms, past valutation report data (projected synergies before acqusition), historical cargo throughput data of the port, and past cargo volume data transported by the rail of acquired firm. Maybe past macroeconomic indicators (GDP) would be also included in model. I have in mind a simulation (scenario playing) model, or perhaps time series model, or structural equation model, and so on. I would be very grateful for any advice. Thank you.
Dejan
Details mainly regarding how forensic accountants lack the skills required to detect and prevent fraud early and quickly compared to the US and UK.
If we assume that audit firm rotation has an effect on financial reporting quality and audit partner rotation has an effect on financial reporting quality. Thus, it could be expected that the effect of audit partner rotation has second-order effect on financial reporting quality. So, how to test this effect?
Hi friends, I am carrying out research on the challenges faced in preserving and conserving financial records. I have realized that there is less content on preservation and conservation online. Please help!. Thank you!
Hi,
I am doing research on largest U.S. manufacturing companies' audit fees and auditors for 2014 and would like to know if there's more convenient way to find the audit fees and auditors besides digging all the way into company's 10-K? I have 60 companies to do research on.
Thank you so much!
Why do we report dividend payments as financing activities on the cash-flow statement?
Boards of directors have two main activities: Advising and Monitoring. The last quoted role was extensively treated in the literature. For example, the auditing committee was examined with a lot of details. But what about the advising part of the role of the board of directors? How to measure the implication of directors in the advising side of the board's activity?
Does number of periods that a member of audit committee remains on the board affect financial reporting quality?
I am working on the Assessment of Quality of Internet Financial Reporting (IFR) by firms in Saudi Arabia. For this purpose I will select a sample of firms that practice IFR. Their disclosure will be checked against the standard disclosure norms. If I prepare a checklist of the quality parameters for financial disclosure, what should be the ideal methodology to see the compliance of these firms and to test the main hypothesis that "Firms in Saudi Arabia practicing IFR comply with standard disclosure norm". I will probe further if there special norms for IFR. In that case I will use those quality parameters applicable for IFR.
Looking for evidence that indicates that auditors prefer not to have to override accounting standards to show a true and fair fiew or fair presentation and possible reasons for this.
Reasons why auditors might prefer Rules based over Principles Based accounting.
I wanna know if the continuous learning influence the internal audit effectiveness
Sales revenue is always the largest item in the financial statements and most manipulations are effected through this very item. Sales audit will not only help in checkmating these manipulations but also in developing good customer profiles that will enhance projections on sales revenue and developments.
Audit risk can be quantified as there are various matrix's in other disciplines that support quantification.
We have a multicultural group of students and their performance needs to improve.
The NASDAQ is presently considering a rule change that will require its listed companies to establish and maintain an Internal Audit Function (IAF). Similarly, the New York Stock Exchange (NYSE) listing rules mandate the presence of an IAF (NYSE Section 303A.07). However, the NYSE does not address the effectiveness of the IAF. Having an IAF is not the same as having a value-adding and effective IAF. The NASDAQ may consider demanding organizations to establish and maintain an effective IAF. What do you think?
It is great that we're developing discussion papers on how to compile an integrated report, but little attention is being placed on the assurance thereof.