Audit quality and value

Audit quality and value

Exploration on the value that audits provide for stakeholders and audit quality


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The perceived value of government audit varies depending on the jurisdiction. In some countries, the audit is a crucial aspect of government’s public accountability or is mandated by law. In other jurisdictions, the audit may only be used by one particular group within the government. Audit quality continues to be impacted by the use of technological innovations, such as dataand analytics (D&A). D&A is enabling auditors to analyze a larger setof data and giving them the ability to test more outliers and anomalies.Through these advances, audit quality is evolving and rapidly improving, whichwill, no doubt, impact audits around the world in the public sector. 

The views in thissection include the following:

  • Audit plays an important role when agency management provides assurance as to the adequacy of their internal controls over government’s financial statements.      
  • In countries where government audits are not made public, or the audit is not presented in a way that is easily accessible, the general public is short changed. 
  • To increase the value of audit, change is needed to reflect the shifting operating landscape, new technologies and the need for more assurance.

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