This paper analyzes the differences in methods of calculating and disclosing net assets between Statement of Financial Accounting Standards #33 (FAS33) and other existing current cost and constant dollar methods. Furthermore, this paper provides empirical evidence on the methods employed by a...

Data quality has become a key issue in computer-based management systems. Inadequate data causes serious operational difficulties as well as direct financial losses. Furthermore, databases are increasing in size at an exponential rate with the proliferation of business electronization...

The purpose of this study is to discuss the future of the audit profession. If the future of the profession can be predicted, then professionals will have the opportunity to prepare in advance. Expert consensus is used as a basis to generate modifications in the audit profession. A modified...

Process mining has been used for auditing and internal control risk assessment as an audit analytical tool. This paper aims at providing a framework on how process mining can be applied to identify fraud schemes and assessing the riskiness of business processes. Specifically, the proposed...

Anomaly detection is a concept widely applied to numerous domains. Several techniques of anomaly detection have been developed over the years, in practice as well as research. The application of this concept has extended to diverse areas, from network intrusion detection to novelty detection in...

This study develops machine learning models to predict audit quality by using a wide range of data describing detailed characteristics of accounting firms, individual audit partners, and public companies in China. It constructs the surprise score, a new measure of audit quality, calculated as...

Audit practitioners have been progressively adopting communications and analytic technology to extend the scope, change the timing, and reduce the costs of audit processes. These efforts have been mainly ad hoc, lacking an integrative theoretical positioning. This paper redefines the concept of...

The ability to automatically extract information from the footnotes of financial statements simplifies access to critical information concerning public companies. However, extraction can be particularly challenging due to great variations in the filing structure and terminologies used....

In this paper we discuss the value that process mining of event logs can provide to internal and external auditors. Process mining aims to extract knowledge from event logs recorded by an information system. What makes an event log such a unique and potentially invaluable resource for auditing...