When there is tax avoidance, we mean that the assessed payer takes the benefits of tax rebates, and exemptions given to the full bringing down the amount of liability. (Smith, et al
Thus the accounting occupation has been transformed to an authority with occupational responsibility. (West, 2003) Having thus emphasized that the auditors had a duty to the public to inform them of the financial difficulties of the company, they are also made liable for lapses in this account
It analyzes the existing surveys of industry practitioners' responses and their internal audit practices from the information systems perspective. It provides a theoretical framework for assessing the usage of technologies (Kuhn, 2010)
Auditors should acquire an adequate understanding of entities and their environments. This includes assessing statements of risk materials whether due to fraud or error, checking internal controls and designing the timing, nature and extent of additional audit procedures (Giove, 2012)
The standards are organized to parallel the critical thinking concepts under professional judgment. The goal of GAAS is to create a set of standards, which are logically organized and to communicate the reasoning of these standards to auditors (Delaney & Feller, 2011)
Besides, it is troublesome for the researcher to visit every nation and take care of travel expenses. In this way, the constraints like money, time and volume of data needed, these modes of research seem to be the most suitable (Bagshaw, 2013)
Regardless of the related sensitivities, understanding national differences is necessary in the appreciation of limits to the feasibility of auditing consistency and promoting global consistency in audit quality (Rittenberg, Johnstone & Gramling, 2012). This study aims at achieving the following set of objectives: Raising global awareness about the effects of national differences on audit quality and stimulating further research and studies on issues highlighted in this study Identifying barriers to attaining global consistency in audit quality by taking into account how national differences affect the application of standards Highlight the key risks that standard setters, audit firms, academicians, governments, and regulators think about and approaches to address them for the benefit of global businesses and investors (Bode, 2007)
They indicate rather potential nation risks that a quality audit needs to address. Global standards may affect national distinctions and measurements like those reflected in nation indices resulting in unprecedented audit risks (Collings, 2011)
They may fail to offer the resources, correspondence channels, and vital experience to manage them. In order to upgrade the audit quality, it is essential to impart experience on how auditors survey and manage country risks, expand existing practices, and make utilization of new opportunities fronted by IT (Cascarino & Van, 2007)
This has empowered the researcher to give recommendations and conclusions of the research. The accompanying paragraph illustrates several explanations why the researcher favored not to utilize the other alternative methodologies (Gramling & Rittenberg, 2014)
However, it is the scope of this study to research the nature of audit quality succinctly. As different countries are seeking to apply The International Auditing and Assurance Standards Board (IAASB) standards on varied forms, they are a point of reference (Knapp, 2013)
The second stage will be analyzing the collected primary data and contrast this data and the past research conducted. At that point, the researcher has examined the both primary and secondary information with a defined goal to distinguish the fitting steps to improve independence in IT auditing (Moeller, 2009)
Evaluation of legal, economic, political, and cultural differences is challenging and prone to accusations of arrogance and misinterpretation. Regardless of the related sensitivities, understanding national differences is necessary in the appreciation of limits to the feasibility of auditing consistency and promoting global consistency in audit quality (Rittenberg, Johnstone & Gramling, 2012)
This can take a long time analyze. Surveys may be applied to almost numerous types of researches like political, market and social exploration (Singleton & Singleton, 2010)
Numerous elements influenced the researcher's decision for leading research. These components incorporate the nature of the study to be directed and detriments of methodologies specified previously (Weirich, Churyk & Pearson, 2012)
Information from secondary research literary works and published journals is also important. Subsequently, the primary research has empowered this study to analyze and distinguish distinctions around comments issued by professional bodies (Wright, Freedman & Liu, 2008)
S. Financial Accounting Standards Board (FASB) and the IASB, intensification of the International Organization of Securities Commissions and development of international auditing standards by the International Auditing and Assurance Standards Board (Barth, 2008)
Lacking an objective market device, the assessment of such ventures is frequently subjective. Furthermore, knowledge from other supranational organizations like the World Bank, the International Monetary Fund, or the United Nations propose that a single global standard setter will face increasing political pressure as agreement must be reached across a broad range of political governments and interests, likely influencing the issuance and development of accounting standards (Hail, Leuz, and Wysocki, 2010)
S. generally accepted accounting principles (GAAP) (Murphy-Smith, Sagafi-Nejad & Wang, 2006)
From the viewpoint of countries with accounting sophistication, a hazard exists of standardization on the lowest common denominator. In any event, experts forecast a greater regulatory role by a reconstituted IASC/IFAC (Pomeranz, 1981)