Міжнародний збірник наукових праць. Випуск 3

Tham khảo tài liệu міжнародний збірник наукових праць. випуск 3, tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả
Nội dung trích xuất từ tài liệu:
Міжнародний збірник наукових праць. Випуск 3 Міжнародний збірник наукових праць. Випуск 3(15) УДК 657 Staliunene J.D., Khrystauskas Ch. REVIEW OF RISK MODELS IN THE CONTEXT OF FINANCIAL AUDIT Relevant audit problems relating to historical research of audit risks models in carryingout professional activity have been analyzed. The analysis of risks models’ classification in the scientific literature has been carried out as well as the definition of the audit riskhas been given due to both internal and external factors. Auditor has been considered to make decisions under ambiguous conditions caused by the inadequate evaluation of these factors Introduction Relevance of the problem. According to various authors professional servicemanagement is the system of both internal and external remedies that create environmentfor businessmen and employees of audit company where they develop, share and use theirand other’s knowledge to achieve the best results (Dawson, 2000; Probst & Raub &Romhardt, 2006). Knowledge (capabilities, competence, experience, organization culture,informal networks of organizational relations and organization’s human capital) createconditions of risk management culture in business. Knowledge organization has much betterpossibilities for successful work in the unpredictable and fast changing environment createdby globalization processes (Probst & Raub & Romhardt, 2006). Research done by Western countries authors Dunn J. (1996); Brugman D. &Weistelt M. (1992) etc. allow to judge that differences between expectation of auditors,clients and information users will remain. Auditors’ expectation is formed by: (i) Nationaland International audit standards; (ii) national audit regulation; (iii) code of auditors’professional conduct; (iv) juridical and normative acts of the Republic of Lithuania thatregulate accounting arrangement; (v) theory and practice of audit. In the meanwhileexpectation of the society is generally formed by the flow of public information.Due to insufficient information flow it is considered that company influences auditfindings by paying high salary to the hired auditor. Direction misses internal controlsystem and recommendations for business risk management. Audit expectation is poorlysurveyed in Lithuania. Therefore it is difficult to judge expectation gaps. It is tried to review models of audit risk management distinguishing theiradvantages and disadvantages in this article. It is problematical from the scientific pointof view that audit process is dynamical and consists of planning and organization,management and quality control just like management theory. Historically analyzedclassical, expanded (O’Reilly, 1990), risk-based audit (Bayer, 1999; Davies, 2001) riskmanagement models do not reflect dynamical audit aspect (Beatie, Fearnley & Brandt,2002); proposed audit risk management model distinguishes risks related to client andrisks related to audit company but ABREMA (Activity Based Risk Evaluation Model ofAuditing, 1995) implements both dynamical aspect and guidelines of bank markingtheory. It is hardly surprising that the main principles and references of this model fulfil inall important aspects 315th International Audit Standard “Understanding Company andits Environment and Estimation of Significant Distortion Risk” and 330th InternationalAudit Standard “Procedures Accomplished by Auditor According to Estimated Risk” thatcame into the force on 1st January, 2005. Authors have accomplished research on purpose to affirm hypothesis thatstrategies of both knowledge management and learning adapted in field of professionalservice (audit companies) might be instruments of complex risk management and createcultural conditions of risk management in this business. 294 This is trial version www.adultpdf.com Сталюнене Й.Д., Христаускас Ч. Огляд моделей ризику в контексті фінансового аудиту Object of investigation – audit risk. Purpose of investigation – to affirm hypothesis that strategies of both knowledgemanagement and learning adapted in field of professional service (audit companies)might be instruments of complex risk management. Goals: 1. to distinguish gaps and asymmetry trends of conception of professional service(audit) expectations on purpose to name inadequacies of expectations of auditors andaudit information users. 2. to distinguish advantages and disadvantages of risk models in the contextof financial audit; 3. to formulate knowledge management and learning strategies that might beadapted in field of professional ...