√ Definition of Audit Quality, Measurement and Indicators (Complete)
Definition of Audit Quality, Measurement and Indicators (Complete) – In this discussion we will explain about Audit Quality. Which includes understanding, measurement indicators and measurement of audit quality with a complete and easy-to-understand discussion. For more details, please see the review About Knowledge. Co. id below carefully.
Definition of Audit Quality, Measurement and Indicators (Complete)
Let's first discuss the definition of audit quality carefully.
Definition of Audit Quality
Audit quality is all the possibilities that the auditor when auditing the client's financial statements can find violations that occur in the client's accounting system and provide reports in the financial statements audited. Where in carrying out their duties, an auditor must always adhere to auditing standard guidelines and the relevant public accountant code of ethics.
Audit quality is also defined as a characteristic or description of audit practices and results according to auditing standards and quality control standards that serve as a measure of the course of duties and responsibilities of the profession auditors. Audit quality relates to how well a job is completed rather than with predetermined criteria.
Definition of Audit Quality According to Experts
1. Simanjuntak (2008)
The definition of audit quality according to Simanjuntak is a result that has been achieved by a subject/object for the level of satisfaction, making it will bring out the desire of the subject/object to evaluate an activity the.
2. Watkins et al (2004)
The definition of audit quality according to Watkins et al is the possibility where the auditor will find and report material misstatements in the client's financial statements. Based on the Public Accountant Professional Standards (SPAP) the audit carried out by the auditor is said to be of good quality, if it meets the auditing requirements or standards.
3. Liu and Wang (1999)
The definition of audit quality according to Liu and Wang is the probability that the auditor will not report audit report with unqualified opinion for financial statements that contain errors material.
4. DeAngelo (1981)
The definition of audit quality according to De Angelo is the possibility (joint probability) in which an auditor will find and report violations in his client's accounting system.
Audit Quality Measurement Indicators
Wooten (2003) states, the indicators used to measure audit quality include:
Misstatement Detection
In detecting misstatements, the auditor must have an attitude of professional skepticism, namely an attitude that includes a mind that continually questions and critically evaluates audit evidence. This misstatement can occur due to errors or fraud.
If the financial statements are wrong, the impact individually or as a whole is quite significant cause the financial statements are not shown fairly in all respects in accordance with accounting standards finance.
Compliance with Applicable General Standards
The Public Accountant Profession Standard (SPAP) is a guideline that is used as a reference and has been determined as a measure of quality that public accountants must comply with in providing their services (UU No. 5 Years 2011). The auditor is responsible for complying with auditing standards set by the Indonesian Institute of Accountants (IAI).
The Public Accountants Compartment Ethics Rules require members of the Indonesian Association of Accountants who are practicing as auditors to comply with auditing standards when it comes to auditing audit reports or reports audits.
Audit Quality Measurement
According to the Regulation of the Supreme Audit Board of the Republic of Indonesia No. 01 of 2007 concerning Standards State Financial Audit (SPKN), audit quality measurement must be based on the matters below this, namely:
Process Quality (Accuracy of audit findings, skepticism)
The magnitude of the benefits derived from the audit work does not lie in the audit meeting does not lie in the findings examination that becomes a report or recommendation made but lies in the effectiveness of the settlement pursued by the entity concerned checked. Also, the audit must be carried out carefully, according to procedures, while maintaining an attitude of skepticism.
Quality of Results (Recommendation value, report clarity, audit benefits)
The management of the audited entity has responsibility for following up on recommendations and making them and maintain a process and information system to monitor the status of follow-up on recommendations examiner.
Quality of follow-up of audit results
The auditor should recommend that management monitor the follow-up status of the examiner's recommendations. Continuous attention to material audit findings as well as recommendations can help the auditor to guarantee the realization of the benefits of the audit carried out.
Thus has been explained about Definition of Audit Quality, Measurement and Indicators (Complete), hopefully can add to your insight and knowledge. Thank you for visiting and don't forget to read other articles.
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