This paper describes the development and implementation of KRisk, an innovative technology‐enabled auditor decision aid for making client acceptance and continuance risk assessments. KRisk, developed and designed by KPMG LLP, is part of the firm's audit quality control and risk management processes. In this paper, we discuss the environmental and technological forces that affect auditor business risk management. We also describe important aspects of the development, functionality, and implementation of KRisk. We discuss possible impediments to realizing the full potential of decision aids that have been reported in prior auditing research, and describe how KRisk and related audit quality control procedures implemented at KPMG were designed to overcome such impediments. Also, we present some ideas for scholarly research dealing with auditor business risk management issues, and issues related to the design and use of decision aids in general.
Skip Nav Destination
Article navigation
1 September 2002
Research Article|
September 01 2002
KRiskSM: A Computerized Decision Aid for Client Acceptance and Continuance Risk Assessments
Timothy B. Bell;
Timothy B. Bell
aAssurance Academic Research at the Assurance & Advisory Services Center at KPMG.
Search for other works by this author on:
Jean C. Bedard, Professor;
Jean C. Bedard, Professor
bNortheastern University.
Search for other works by this author on:
Karla M. Johnstone, Assistant Professor;
Karla M. Johnstone, Assistant Professor
cUniversity of Wisconsin–Madison.
Search for other works by this author on:
Edward F. Smith
Edward F. Smith
dKPMG LLP.
Search for other works by this author on:
Online ISSN: 1558-7991
Print ISSN: 0278-0380
American Accounting Association
2002
AUDITING: A Journal of Practice & Theory (2002) 21 (2): 97–113.
Citation
Timothy B. Bell, Jean C. Bedard, Karla M. Johnstone, Edward F. Smith; KRiskSM: A Computerized Decision Aid for Client Acceptance and Continuance Risk Assessments. AUDITING: A Journal of Practice & Theory 1 September 2002; 21 (2): 97–113. https://doi.org/10.2308/aud.2002.21.2.97
Download citation file:
Pay-Per-View Access
$25.00