Emerging technologies like data analytics and machine learning are impacting the accounting profession. In particular, significant changes are anticipated in audit and assurance procedures because of those impacts. One such potential change is audit sampling. As audit sampling only provides a...

Environment, Social, and Governance (ESG) information has become an essential global resource for investors. Regulators have attempted to standardize their reporting process and assure its quality but have obtained mixed results. While more companies offer ESG disclosure, it is usually not fully...

Managerial estimates are ubiquitous in accounting: most balance sheet and income statement items are based on estimates; some, such as the pension and employee stock options expenses, derive from multiple estimates. These estimates are affected by objective estimation errors, as well as by...

Artificial Intelligence (AI) and Machine Learning (ML) are gaining increasing attention regarding their potential applications in auditing. One major challenge of their adoption in auditing is the lack of explainability of their results. As AI/ML matures, so do techniques that can enhance the...

In this study, we propose the concept of artificial intelligence co-piloted auditing, emphasizing the collaborative potential of auditors and foundation models, such as LaMDA, DALL-E, and GPT-4, in the auditing domain. We imagine an audit setup where auditors' capabilities are enhanced through...

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...

Process Mining has become a standard in many companies as part of process control in various areas. Previous papers for specific areas have discussed its use to ensure good governance. This paper proposes generic use cases of process mining in the context of assurance activities in the...

The continuous audit methodology has presently been adopted by many public and private firms, despite different adoption levels (PwC, 2006; Vasarhelyi et al., 2012). To our knowledge, implementations of continuous audit and monitoring on government procurement analysis are limited, even though...