This paper reports the impediments identified by practicing auditors that keep them from significantly reducing the time lag between closing and issuing their report. We obtain these impediments by surveying the U.S. assurance partners of an international audit firm. Our results suggest that lack of sufficient personnel resources, both with the client and the audit firm hindered a significant reduction in prior audit report lags. In addition, the partners believe that before audit report lags are signifi‐cantly reduced, the clients' and the auditor's mindset must change to accommodate a new audit approach. Even if the mindset of both parties is changed, the partners believe the skill‐set of auditors must improve and the flexibility of the scheduling process must increase. Implications of the results for continuous auditing are also discussed.
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Spring 2006
Research Article|
March 01 2006
A Within Firm Analysis of Current and Expected Future Audit Lag Determinants Available to Purchase
Jonathan B. Woodroof
Jonathan B. Woodroof
The University of Tennessee.
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Online ISSN: 1558-7959
Print ISSN: 0888-7985
American Accounting Association
2006
Journal of Information Systems (2006) 20 (1): 65–86.
Citation
Bruce K. Behn, DeWayne L. Searcy, Jonathan B. Woodroof; A Within Firm Analysis of Current and Expected Future Audit Lag Determinants. Journal of Information Systems 1 March 2006; 20 (1): 65–86. https://doi.org/10.2308/jis.2006.20.1.65
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