Developing a Standardised Model for Internal Control Evaluation
O'Leary, Conor (2005) Developing a Standardised Model for Internal Control Evaluation. The Irish Accounting Review, 11(2), pp. 35-57.
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Abstract
This study develops an internal control evaluation (ICE) model - a prototype matrix model -which addresses limitations noted in previous studies. 94 auditors from 5 firms evaluated the internal control structure of a fictitious entity using their current firm methodology and the ICE model, and compared methods. For "overall usefulness" and three factors, "cost"; "logical development"; and "time to complete", auditors ranked the ICE model as good as current evaluation methods. For one factor "completeness", two firms considered it less beneficial. Results indicate attempts to develop a standardised evaluation model are worthwhile. Such a model may benefit the auditing profession, as standardisation may support the stance for self-regulation.
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| ID Code: | 4908 |
|---|---|
| Item Type: | Journal Article |
| Additional Information: | c.oleary@qut.edu.au |
| Additional URLs: | |
| Keywords: | Internal controls, auditors, evaluation methods, standardisation, auditing profession |
| ISSN: | 0791-9638 |
| Subjects: | Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) |
| Divisions: | Current > QUT Faculties and Divisions > QUT Business School |
| Copyright Owner: | Copyright 2005 Irish Accounting and Finance Association |
| Copyright Statement: | Reproduced in accordance with the copyright policy of the publisher. |
| Deposited On: | 04 Sep 2006 |
| Last Modified: | 23 Jun 2011 05:19 |
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