Hybrid audit as an innovative approach in the audit practice of forestry

Daniela Georgieva and Diyana Bankova

MPRA Paper from University Library of Munich, Germany

Abstract: Auditing has undergone many changes in the context of globalization and digitalization. Under the influence of the COVID-19 health crisis, additional restrictions are introduced, which are related to the impossibility of physical inspections (desk cheks or on-site ones). This has a significant effect on the activities of sectors and enterprises where on-site inspections are a priority, like in forestry. In order to answer the current challenges, the Forest StewardshipCouncil introduces a new audit approach, called "hybrid audit". The main goal of the study is to analyze the benefits and risks of hybrid audits in forestry. This will be done by (1) performing a comparative analysis with other types of audit (particularly financial and IT audit) and (2) deriving the characteristics and requirements of the hybrid audit. The study is conducted based on the scientific methods of analogy, analysis and synthesis, induction, deduction, and logical approach. The results of the study outlined the need for specific, local forestry-related rules and methodology of the procedures for the hybrid audit to be developed. Additionally, there is a risk of gaps in the check and verification of the forestry documentation and resources when using the hybrid audit

Keywords: hybrid audit; forestry; management; risks; benefits (search for similar items in EconPapers)
JEL-codes: M42 Q0 (search for similar items in EconPapers)
Date: 2021-12, Revised 2022
New Economics Papers: this item is included in nep-acc and nep-env
References: View complete reference list from CitEc
Citations:

Published in 15th International Scientific Conference WoodEMA 2022 Crisis management and safety foresight in forest-based sector and SMEs operating in the global environment, International Association for Economics, Management, Marketing, Quality and Huma Resources in (2022): pp. 31-36

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/113981/1/MPRA_paper_113981.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:113981

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().