The Americas literature review on internal auditing

Emerald - 2006
SusanHass1, Mohammad J.Abdolmohammadi2, PriscillaBurnaby2
1Simmons College, Boston, Massachusetts, USA
2Bentley College, Waltham, Massachusetts, USA.

Tóm tắt

PurposeBy conducting the 2006 global Common Body of Knowledge (CBOK) study, The Institute of Internal Auditors (The IIA) attempts to better understand the expanding scope of internal auditing practice throughout the world. The purpose of this review of recent internal auditing literature in The Americas is to document how the internal audit function is changing in response to the shifts in global business practices.Design/methodology/approachThe literature in The Americas is reviewed with a focus on developments that have implications for the expanded scope of internal auditing and the changing skill sets of internal auditors. This focus has implications for CBOK 2006.FindingsThe literature indicates a paradigm shift in the activities performed by internal auditors. The increasing complexity of business transactions, a more dynamic regulatory environment in the USA, and significant advances in information technology have resulted in opportunities and challenges for internal auditors. Although in 2004, The IIA responded to the changing organizational environment by updating the professional practices framework, more work needs to be done to prepare internal auditors for the expanded set of skills and knowledge required to perform audits of the future.Originality/valueBy presenting an overview of past literature in The Americas and discussing the shifting demands on internal audit services, the researchers hope to motivate further research in the field.

Từ khóa


Tài liệu tham khảo

Anderson, U. (2003), “Assurance and consulting services”, in Bailey, A.D., Gramling, A.A. and Ramamoorti, S. (Eds), Research Opportunities in Internal Auditing, Ch. 4, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL, pp. 97‐129.

Chapman, C. and Anderson, U. (2002), Implementing the Professional Practices Framework, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

Coderre, D. (2005), Continuous Auditing: Implications for Assurance, Monitoring, and Risk Assessment, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

COSO (2004), Enterprise Risk Management‐Integrated Framework Executive Summary, The Committee of Sponsoring Organizations of the Treadway Commission.

Deloitte (2006), Lean and Balanced – How to Cut Costs without Compromising Compliance, Deloitte.

Gramling, A.A., Maletta, M.J., Schneider, A. and Church, B.K. (2004), “The role of the internal audit function in corporate governance: a synthesis of the extant internal auditing literature and directions for future research”, Journal of Accounting Literature, Vol. 23, pp. 194‐244.

Gray, G. (2004), Changing Internal Audit Practices in the New Paradigm: The Sarbanes‐Oxley Environment, The Institute of Internal Auditors, Altamonte Springs, FL.

Krell, E. (2005), “Is Sarbanes‐Oxley compromising internal audit?”, Business Finance, August.

Krogstad, J., Ridley, A.J. and Rittenberg, L.E. (1999), “Where we're going”, Internal Auditor, October, pp. 28‐33.

Le Grand, C.H. (2005), Information Technology Controls, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

Mutchler, J. (2001), Independence and Objectivity: A Framework for Internal Auditors, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

PCAOB (2004), Auditing Standard No. 2: An Audit of Internal Controls over Financial Reporting Performed in Conjunction with an Audit of Financial Statements, Public Company Accounting Oversight Board, Washington, DC.

PwC (2005A), “Internal Audit Global Best Practices: #2 in a series”, The Internal Audit Newsletter, PricewaterhouseCoopers LLP, New York, NY, pp. 5‐6.

PwC (2005B), “How Computer Assisted Audit Tools Can Be Used in a Fiduciary Audit Environment”, The Internal Audit Newsletter, PricewaterhouseCoopers LLP, New York, NY, pp. 2‐3.

PwC (2006), PricewaterhouseCoopers' State of the Internal Audit Profession: Internal Audit Post Sarbanes‐Oxley, PricewaterhouseCoopers LLP, New York, NY.

RGTF (1999), A Vision for the Future: Professional Practices Framework for Internal Auditing, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

Rittenberg, L.E. and Covaleski, B.J. (1997), Outsourcing Dilemma: That's Best for Internal Auditing, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

Roth, J. (2002), Adding Value: Seven Roads to Success, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

Roth, J. and Espersen, D. (2003), Internal Audit's Role in Corporate Governance: Sarbanes‐Oxley Compliance, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

Simons, R. (2000), Performance Measurement & Control Systems for Implementing Strategy, Prentice‐Hall, Upper Saddle River, NJ.

SOX (2002), Sarbanes‐Oxley Act of 2002, One Hundred Seventh Congress of the United States of America, HR 3763.

IIA (1999), A Vision for the Future: Professional Practices Framework for Internal Auditing, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

IIA (2002), The Professional Practices Framework, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

IIA (2004), The Professional Practices Framework, The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL.

The IIA (2005), The Institute of Internal Auditors, Altamonte Springs, FL, available at: www.theiia.org/iia/index.cfm? doc_id = 4884.

Warren, J.D. and Parker, X.L. (2003), Continuous Auditing: Potential for Internal Auditors, The Institute of Internal Auditors, Altamonte Springs, FL.

Zoellick, B. and Frank, T. (2005), Governance, Risk Management, and Compliance: An Operational Approach, The Compliance Consortium, Phoenix, AZ.

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