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Determinants of auditors' perceptions of the work needed in the audit of internet-based financial reports in Egypt

Tariq H. Ismail and Nermeen M. Sobhy

Journal of Applied Accounting Research, 2009, vol. 10, issue 2, 132-150

Abstract: Purpose - The purpose of this paper is to constitute and test a framework of factors that might affect auditors' perceptions of the work needed to audit internet-based financial reports (IBFR). Design/methodology/approach - The paper conducts a questionnaire on practicing auditors from audit firms in Egypt in the year 2007 to examine their perceptions of the work needed to audit IBFR and factors that might affect their perceptions. Findings - The paper portrays total auditors' perceptions as a function of four dimensions. First, auditor personal-specific characteristics (consisting of three variables); second, audit fieldwork-specific characteristics (containing one variable); third, audit firm-specific characteristics (comprising five variables); and fourth, environmental-specific characteristics (consisting of four variables). The analysis of empirical study provides evidence of a significant association between auditors' perceptions of the work needed to audit IBFR and the following factors: auditors' knowledge of inherent risks of internet reporting, quality systems, audit tenure, legal form of client, client industry group, user needs of financial information, and legislation environment. Research limitations/implications - The scope of the survey is limited to a small number of potential participants. Accounting and auditing standards setting environment in Egypt may restrict the generalization of the findings of this paper. Originality/value - This paper enriches the literature on internet reporting and audit tasks by exploring factors that might affect auditors' perceptions of the work needed to audit IBFR. The paper provides evidence that supports Egyptian regulators' initiatives to issue guidelines that cover IBFR, and auditors' responsibilities and the work needed in the audit of IBFR in electronic business environments in an attempt to improve the integrity of financial reporting.

Keywords: Auditors; Perception; Personality; Internet; Financial reporting; Egypt (search for similar items in EconPapers)
Date: 2009
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