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.
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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|Item Type:||Journal Article|
|Keywords:||Internal controls, auditors, evaluation methods, standardisation, auditing profession|
|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 00:00|
|Last Modified:||22 Jun 2011 19:19|
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