ABSTRACT: The real-time economy (RTE) changes the way accounting information is received, processed, and analyzed. Consequently, it drives demand for auditors who possess enhanced skills and attitudes. Unsurprisingly, the current generation of auditing students expects to be well prepared when entering the profession and facing these new challenges. Auditing educators have the unique opportunity to assume a leading role and empower modern auditors, arming them with the best weapons available to combat error and fraud. This position paper discusses the changing function of the auditing profession, analyzes the advancement of auditing technology featuring continuous auditing and monitoring, and identifies three primary attributes (attitudes, technical competences, and behaviors) that will define the RTE auditor. For each of these attributes, this paper identifies educational media (or instructional tools) that may be incorporated into auditing curricula as a way of introducing and developing these skills.
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1 August 2010
Research Article|
August 01 2010
Audit Education and the Real-Time Economy
Online ISSN: 1558-7983
Print ISSN: 0739-3172
American Accounting Association
2010
Issues in Accounting Education (2010) 25 (3): 405–423.
Citation
Miklos A. Vasarhelyi, Ryan A. Teeter, JP Krahel; Audit Education and the Real-Time Economy. Issues in Accounting Education 1 August 2010; 25 (3): 405–423. https://doi.org/10.2308/iace.2010.25.3.405
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