Knowledge of auditors' existing duties among Malaysian accounting undergraduates
Knowledge on auditors' existing duties is important for its contribution towards reducing the audit expectation gap (AEG).AEG is critical to the auditing profession because the greater the gap from the point of a society, the lower is the credibility, earnings potential and prestige associated...
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| Main Authors: | , , , , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2013
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/9462/1/2.pdf http://repo.uum.edu.my/9462/ http://worldconferences.net/proceedings/icssr2013/index.html |
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| Summary: | Knowledge on auditors' existing duties is important for its contribution towards reducing the audit expectation gap (AEG).AEG is critical to the auditing profession because the greater the gap from the point of a society, the lower is the credibility, earnings potential and prestige associated with the work of auditors.Previous studies suggest that the AEG can be narrowed by either a reduction in society’s expectations or an improvement in their perceived performance of auditors.It is significant to investigate the accounting students’ knowledge on auditors because majority of them, after graduating, will either join the public practices (auditor) or commercial organisation (financial statements user).The knowledge on auditors’ existing duties that students acquired at university will help the user of financial statements in particular, to better understand the duties of auditors.This study aims; firstly, to investigate the adequacy of knowledge on the auditors’ duties as defined by the Malaysian legislations and Malaysian Approved Standards on Auditing among Malaysian accounting students; and secondly, to determine any significant difference of such knowledge between those students who had and those who had not undergone the internship in audit firms.A questionnaire survey is distributed to 800 accounting students of public and private universities in Malaysia.It is found that students, on overall, have a sufficient knowledge on the auditors’ existing duties.Also, there is no significant difference on the knowledge of auditors’ existing duties between students who had undergone internship in audit firms and students who had not.The contributions of this paper are two-prongs.First, this is the first paper that determined the knowledge on the auditors’ existing duties among accounting students in the Malaysian universities.Second, this paper helps in identifying the area of auditors’ existing duties that accounting students are lacking. |
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