This research was conducted with the comprehensive understanding of the Maturity audit’s model and the framework was developed to help establish the qualitative measurement of effective audit control. Hendrick and Kleiner, (2001) that information transfer is itemized, equally defined this by ensuring that audit control effectiveness has been fully considered and projected to help achieve the required reengineering of critical audit practices. Accordingly, this research has provided a conclusive exploration of the amount of effectiveness that is remarkably achieved by virtue of audit control and in essence by the quality of the audit procedure in Kuwait State Audit Bureau conducted. In accordance with the establishments of Hollander et al, (1998) on their work, Audit control management and identification of audit metrics, it was established that audit implementation survival is hugely dependent on the existing audit monitoring tools and this further provide the core feedback needed to enhance performance and equally create a workable audit monitoring configuration and inclusion of new technological platform. This considerable procedure is according to the laws of Kuwaiti financial system.
Are you in despair because you do not know how to write an argumentative essay? Keep calm and buy argumentative essay at Pro-Papers! Our skilled writers are ready to provide you with great college essay writing service.
The research carried out in Maturity audit’s (1959) model provides the core measure needed by the company to achieve substantially active measure for defining a comprehensive technique for handling barriers and high-level hindrances in proper audit procedures. The beginning of this research was established by capturing information necessary to define effective audit control and evidently by ensuring that the measure itself was helpfully recreated in view of the measurement objective. Kasten et al, (1998) explains that the development of the relevant paradigm is measured accordingly within the major government benchmarks that are necessary for effective audit controls.
The research methodology was carried out within the constructs of Leape et al, (1998) and projected respectively to help exercise the flexibility levels of the audit control programs in Kuwaiti.
The inception of the methodology which was evidenced in accordance with the respective scale refinement was allowed to be done with full consideration of the relevant tests that helped to fully identify and implement the methodological approach and within this view, the model has been based on vital items, measured and fully integrated to illustrate work compliance, performance improvement and an established audit position. Chapter five provides a full discussion of the major barriers of auditing practices discussed and equally help to illustrate the paradigm needed to completely establish the correlations of the variables. The starting point in the qualitative measure is attributed to the target scale and this feature an important milestone which is established basing on the existence of the qualitative research models and how they provide an invaluable transfer of knowledge. Further, the discussion would also look at the relevance of the critical elements needed to establish the research work as well as the required timings and dimensions. In the latter part, the discussion would look at the solutions of audit control with considerable enlightenment of the respective sustainability and how this behavior would help the company to achieve its overall performance targets.
The last sections of the chapter provide a discussion on research implications as well as establishing a review, which would ensure that future research is well accomplished.
In order to provide practical auditing mechanisms, key reform phases would ultimately help solve the critical barriers within the financial and audit system in Kuwait. The vast collection of recommendations are arbitrarily correlated, however they usefully defined in various contexts in the auditing process.
According to Bagozzi (2007) the implication of audit barriers and recovery steps could be supervised and however, banking shocks as witnessed in the study demonstrate how to turn around the relevant auditing capacities as per the given standard levels of independent central banks through highlighting the critical output-input models and largely enabling the comprehensive environments within the banks to be self-sustaining. This is a robustness factor according to Rose and Spiegel (2009) that periodically expresses the recovery engagements by major policymakers and financial experts in the industry. This further defines the audit ratio and in place of continued audit stresses, impact assessment as per the provisions in the legislative aspects of proper auditing. Testing the audit control mechanism involves accurately designed estimates, which would bring fort key relevant practices within the market. The convenience of these factors and potential consistencies would strive to create a long-term positive impact in the economy. As per the surveys, an increased inclusion of technologically aided banking measures and supplemented monitoring functions would relevantly complement the continued development advantage and translate the financial system into a more robust system with adequate financial pillars in Kuwait.
The porousness of the audit process would be adjusted in order to decentralize basic operations and remove pressure from building up which could significantly affect its overall response cycle. This further means that the interests of the state and full functioning of the audit institutions could procedural work hand in hand and avoid overreliance on real economic performance. In a situational analysis, the objectivity would highlight the viability of the financial controls and how best these factors contribute to long term impacts on the restructuring of the Kuwait State Audit Bureau. The relevant financial institutions themselves would clearly impress with in-depth knowledge base on the implication of more financial controls, which would instill completely new undertaking and indeed further diversifying its economic vigor. This placement, as Walko, (2008b) states, develops moral perspective that is achievable and has no long benefits on the part of the user. As an improvement of resources, the behavioral index within the financial sector should be directed towards the incentives added to the design models. Besides this, the burden of financial hindrances could be distinctly sorted out by virtually seeking public support and at modest levels, in-calculating ideal measures that add up to the overall audit interventions.
With the advent of the auditing barriers in Kuwait, it has been absolutely difficult to control the fluctuation of the currency and the basis of basic legislations would a huge base for regulating the functioning of the banks. As a highlight, the modest concepts would include creating strict but flexible operational platforms for each individual banking sector. As part of the process to boost this regulation, Zumer and Égert and Backé (2009) explains that audit, reforms need to be based on the facilitation of information sharing. The viability of management support and critical aspects in management and to support the tasks related to the implementation of appropriate information sharing, all the core metrics must be fully focused as per the given financial legislative principles.
To enhance its future performance, the Kuwait State Audit Bureau need to be fully compliant with the changing trends in the procedural examination of its performance indices. Due to the vast levels of challenges the state bureau faces, the overriding aspect is its level of problem-solving mechanism.
Considering the model development, Kuwait State Audit Bureau needs substantial audit capabilities that will include risk management components and aided monitoring systems. Further from its traditional continuous control monitoring, its audit level require an interactive process as well as a more routinely achievable prospect in order to establish a powerful operational construct. By enhancing its comprehensive level of construction, the company will interactively operate under potentially guided reporting measure that optimizes the relevancy of its auditing mechanism.
In order to complement its data factors, Kuwait intends to fully explore a critical path in its data cycles. However, while the impact of technology is significantly based on relevant installations and how internal auditors would hence be able to retrieve data from these installations. While the considerations are fully examined through calculated mechanism, the aggregated data would hence be critically examined through a networked environment. Kuwait State Audit bureau will require a recognizable level of data access and extended report collection parameters, which hence would be fundamentally applied in its financial control metrics.
Audit concepts in Kuwait audit bureau can be measured proportionally through a deployment paradigm relevant to its optimal performance measurement. The impact, mentioned proportionally includes independent audit departments and shared information databases. When inclusively determined, the foundations for a positively perceived task operands would hence be visually be captured and utilized as appropriate.
Further work in auditing can be established within the following areas:
Arndt,F. (2011).Dynamic capabilities in strategic management with organization as innovation for growth, Organizational Studies.32,200-576.
Fiegen, M. (2011). Review of knowledge innovation as a strategic management practice, Journal of Business Finance Librarianship. 16,247-249
Ugbora,I. Obeng,K. Spann,O. (2010). Strategic planning as an effective tool in public strategic sector management, Administration Society. 43, 87-123.
Sonia, T. Pryor, M. John, H. Lisa, S.(2013).Strategic management in the paradigmatic era as a lesson for managers, International Journal of Management.30,112-127.
Hitt,M. (2011).Strategic relevance in management theories in supply chain management research, Journal of Supply Chain Management.47,9-13.
Randolph,S. (2013).Strategic thinking, Workplace health safety.61,30-52
Moon, J. (2013). Antecedents and results in strategic thinking, Journal of Business Research.66, 1698-1708.
Rosalie, K. Christian, B. (2011).Normative view in the middle management role of strategic change implementation, Journal of Management Marketing Research.8,1-14.
Bracker, J. (2010).Strategic development management concepts, Management.5,219-224.
James, F. (2010).Strategic planning and financial management, Library.132,51-62.
Arnold, V., and S. Sutton. 1998. The Theory of Technology Dominance: Understanding
the impact of intelligent decisions aids on decision makers‟ judgments. Advances in Accounting
Behavioral Research 1: 175-194.
Bagozzi, R. P. (2007. The legacy of the technology acceptance model and a proposal for a paradigm shift. Journal of the Association for Information Systems, 8(4), 244-254.
Behn, B. K., D. L. Searcy, J.B. Woodroof. (2006). A Within Firm Analysis of Current and Expected Future Audit Lag Determinants. Journal of Information Systems 20 (1): 65-86.
Canadian Institute of Chartered Accountants. (1999). Research Report on Continuous Auditing. Toronto, Canada.
Ahmed Al-Rifai, (2006), Privatisation: the Kuwaiti Experience, Dar Atlas Book
Store, Damascus, Syria
Central Statistical Office (2010), Annual Statistics Abstract for 2008, Edition
45, Issue 32.
Khouja, M.W. and P.G. Sadler (1979), The Economy of Kuwait, Macmillan
Press London, UK.
Kuwait Legislation and Fatwa Department (2005), Legislation, Vol. 11, Kuwait
Kuwait Stock Exchange (2010), Data on Listed Companies – Capitalization & Shareholder Structure
World Bank (2001), Energising the Private Sector in Kuwait.
Heffes, E.M. 2006. Theory to practice: continuous auditing gains. Financial Executive:17-18.
Have you ever thought to “pay to do my dissertation”? Well, if you are sure you need a dissertation writing service, the Pro-Papers would be the best option for you, since our staff has a huge experience in this field.
Teoh, S.H., Wong, T.J., (1993). Perceived auditor quality and the earnings response coefficient. The Accounting Review 68 (2), 346–366.
Watkins, A.L., Hillison, W., Morecroft, S.E., (2004). Audit quality: A synthesis of theory and empirical evidence. Journal of Accounting Literature 23, 153–193.
Ogneva, M., Raghunandan, K., Subramanyam, K., (2007). Internal control weakness and cost of equity: Evidence from SOX 404 disclosures. The Accounting Review 82 (5), 1255–1297.
Lopez, T.J., Vandervelde, S.D., Wu, Y., (2006). The auditor’s internal control opinions: An experimental investigation of relevance. Working Paper, April 2006
Lennox, C.S., (1999). Are large auditors more accurate than small auditors? Accounting and Business Research 29 (3), 217–227.
Leave a Reply
Your email address will not be published / Required fields are marked *
Calculate your price