Business risk auditing: A regressive evolution?—A research note

Christine Flint, Ian A.M. Fraser and David J. Hatherly

Accounting Forum, 2008, vol. 32, issue 2, 143-147

Abstract: Business risk auditing (BRA) has been much publicised as revolutionary. The essence of the phenomenon, and the actual impact on practice, however, are unclear. This note revisits some pre-BRA interview evidence investigating auditor engagement with business risk. The evidence suggests that, pre-BRA, big-six auditors were already familiar with concepts of business risk although they were uncertain as to how precisely business risk informed the audit process. This suggests that BRA was evolutionary, rather than revolutionary, change and that the engagement of recent international standards with business risk is not significantly different from that of big-six auditors pre-BRA. The BRA era in audit methodology might be conceptualized as one of regressive evolution.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:taf:accfor:v:32:y:2008:i:2:p:143-147

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DOI: 10.1016/j.accfor.2007.12.001

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