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Attestation audits revisited : how about performance audits for public companies? / Haji Shafi Mohamad

The primary objective of this paper is to study the possibility of making performance audits mandatory initially at least for all publicly-listed companies. Auditing the performance of management and commenting on how economically, efficiently and effectively they have performed their duties is not...

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Main Author: Mohamad, Shafi
Format: Article
Language:English
Published: Universiti Teknologi MARA, Sarawak 2004
Online Access:http://ir.uitm.edu.my/id/eprint/16779/2/AJ_HAJI%20SHAFI%20MOHAMAD%20JAS%2004.pdf
http://ir.uitm.edu.my/id/eprint/16779/
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spelling my.uitm.ir.167792019-02-15T01:34:38Z http://ir.uitm.edu.my/id/eprint/16779/ Attestation audits revisited : how about performance audits for public companies? / Haji Shafi Mohamad Mohamad, Shafi The primary objective of this paper is to study the possibility of making performance audits mandatory initially at least for all publicly-listed companies. Auditing the performance of management and commenting on how economically, efficiently and effectively they have performed their duties is not a new subject. However, up until now the results of performance audits have usually been kept within the organization concerned ('in-house'). With the growth of perceived dissatisfaction with current auditing practices and the demand for more management accountability due to corporate collapses, this paper considers the possibility of performance audits being made mandatory. Problems to be overcome in establishing a performance audit framework include audit independence, cost/benefit decisions and the establishment of adequate measurement criteria. However, if the demands for performance audits escalate these problems will have to be overcome. Indeed they are not now seen as insurmountable. If the general public and the business community consider that this is the function they want an audit to perform in the future, for all entities both public and private, then performance auditing may acquire just as important a status as currently held by financial statements auditing. Therefore debate over the potential benefits of compulsory performance audits continues to increase. Universiti Teknologi MARA, Sarawak 2004 Article PeerReviewed text en http://ir.uitm.edu.my/id/eprint/16779/2/AJ_HAJI%20SHAFI%20MOHAMAD%20JAS%2004.pdf Mohamad, Shafi (2004) Attestation audits revisited : how about performance audits for public companies? / Haji Shafi Mohamad. Jurnal Akademik UiTM Sarawak. pp. 57-71. ISSN 0128-2635
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
description The primary objective of this paper is to study the possibility of making performance audits mandatory initially at least for all publicly-listed companies. Auditing the performance of management and commenting on how economically, efficiently and effectively they have performed their duties is not a new subject. However, up until now the results of performance audits have usually been kept within the organization concerned ('in-house'). With the growth of perceived dissatisfaction with current auditing practices and the demand for more management accountability due to corporate collapses, this paper considers the possibility of performance audits being made mandatory. Problems to be overcome in establishing a performance audit framework include audit independence, cost/benefit decisions and the establishment of adequate measurement criteria. However, if the demands for performance audits escalate these problems will have to be overcome. Indeed they are not now seen as insurmountable. If the general public and the business community consider that this is the function they want an audit to perform in the future, for all entities both public and private, then performance auditing may acquire just as important a status as currently held by financial statements auditing. Therefore debate over the potential benefits of compulsory performance audits continues to increase.
format Article
author Mohamad, Shafi
spellingShingle Mohamad, Shafi
Attestation audits revisited : how about performance audits for public companies? / Haji Shafi Mohamad
author_facet Mohamad, Shafi
author_sort Mohamad, Shafi
title Attestation audits revisited : how about performance audits for public companies? / Haji Shafi Mohamad
title_short Attestation audits revisited : how about performance audits for public companies? / Haji Shafi Mohamad
title_full Attestation audits revisited : how about performance audits for public companies? / Haji Shafi Mohamad
title_fullStr Attestation audits revisited : how about performance audits for public companies? / Haji Shafi Mohamad
title_full_unstemmed Attestation audits revisited : how about performance audits for public companies? / Haji Shafi Mohamad
title_sort attestation audits revisited : how about performance audits for public companies? / haji shafi mohamad
publisher Universiti Teknologi MARA, Sarawak
publishDate 2004
url http://ir.uitm.edu.my/id/eprint/16779/2/AJ_HAJI%20SHAFI%20MOHAMAD%20JAS%2004.pdf
http://ir.uitm.edu.my/id/eprint/16779/
_version_ 1685648850913591296
score 13.211869

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