ERP System Audit a Control Support For Knowledge Management

The ERP system supports most of the business system that maintains in a single database the data needed for a variety of business functions such as Manufacturing, SCM, Financials, Projects, Human Resources and CRM; the audit of this systems is necessary in order to give reasonable assurance to the company on its core system. Obtained evidence evaluation can ensure whether the organization's IT&C system safeguard assets, maintains data integrity, and is operating effectively and efficiently to achieve the organization's goals or objectives. The audit process respecting the methodology based on: gathering information and plan; obtaining an understanding of internal controls; performing test of controls and substantive tests, develop a control support on quality of flow of information and knowledge from formal perspective, for Knowledge Management in large enterprises.ERP systems, IT audit, information quality, knowledge management

Revalidation and electronic cataract surgery audit: a Scottish survey on current practice and opinion

PURPOSE: To determine current knowledge and opinion on revalidation, and methods of cataract surgery audit in Scotland and to outline the current and future possibilities for electronic cataract surgery audit. METHODS: In 2010 we conducted a prospective, cross-sectional, Scottish-wide survey on revalidation knowledge and opinion, and cataract audit practice among all senior NHS ophthalmologists. Results were anonymised and recorded manually for analysis. RESULTS: In all, 61% of the ophthalmologists surveyed took part. Only 33% felt ready to take part in revalidation, whereas 76% felt they did not have adequate information about the process. Also, 71% did not feel revalidation would improve patient care, but 85% agreed that cataract surgery audit is essential for ophthalmic practice. In addition, 91% audit their cataract outcomes; 52% do so continuously. Further, 63% audit their subspecialist surgical results. Only 25% audit their cataract surgery practice electronically, and only 12% collect clinical data using a hospital PAS system. Funding and system incompatibility were the main reasons cited for the lack of electronic audit setup. Currently, eight separate hospital IT patient administration systems are used across 14 health boards in Scotland. CONCLUSION: Revalidation is set to commence in 2012. The Royal College of Ophthalmologists will use cataract outcome audit as a tool to ensure surgical competency for the process. Retrospective manual auditing of cataract outcome is time consuming, and can be avoided with an electronic system. Scottish ophthalmologists view revalidation with scepticism and appear to have inadequate knowledge of the process. However, they strongly agree with the concept of cataract surgery audit. The existing and future electronic applications that may support surgical audit are commercial electronic records, web-based applications, centrally funded software applications, and robust NHS connections between community and hospital

Controlling Auditor Interactions to Improve the Quality of a Financial Statement Audit

Poor quality financial statement audits have a negative impact on the information provided to principals and stakeholders that can increase the risk of corporate fraud. The well-documented collapses of companies, such as Enron and WorldCom, brought the issue of audit quality to the headlines. Using agency theory as the conceptual framework, the purpose of this single case study was to determine what strategies client managers and boards can use to facilitate an engagement with an audit firm and effectively carry out their responsibility to provide effective relevant evidence and support for their management assertions as outlined in the engagement letter. The population comprised a census sample of 9 individuals with direct involvement in the audit process within a Connecticut-based organization and its audit firm. Data collection comprised of semistructured interviews and analysis of public and internal documents. Using methodological triangulation, 5 primary themes emerged including communication, documentation, knowledge and experience, character, and procedural. The findings of this study may promote social change by enhancing knowledge of what role management can play in ensuring a high-quality audit. Improved insight to the audit process may promote investor confidence in the financial statements and economic growth through capital spending

Knowledge management in research organisations : a knowledge audit

Includes bibliographical references (leaves 120-125).This dissertation focuses on a knowledge audit that was conducted in a research organisation (PLAAS) at the University of the Western Cape in Cape Town, South Africa. A knowledge and information audit provides a framework that examines the ways in which an organisation handles and leverages its knowledge and information assets. The audit examines ways an organisation creates, generates, disseminates, stores and shares its knowledge and information resources. In the process, the gaps, sinks, and duplications are revealed; providing useful information that can support decision making and knowledge management initiatives to enhance organisational productivity and effectiveness. This relates specifically to developing relevant information and knowledge strategies, to understanding an organisation's knowledge and information needs and aligning these with the right tools that will facilitate efficiency in an organisation's core engagements. This knowledge and information audit was exploratory in nature and sought to understand the current information and knowledge environment of the organisation. It was anticipated that the results would augment and feed into the current reflections of the organisation on how to leverage its knowledge and information assets and improve efficiency and remain competitive in the market place. The audit was carried out at PLAAS, a research unit that produces considerable research output based on the empirical studies that the staff conducts. The organisation, in addition, is actively involved in forums that debate and engage with various players in the land and agrarian sector in South Africa. These engagements are at a level where they influence policy matters related to land and agrarian matters in the new South Africa. This audit sought to examine what information and knowledge supports core engagements of the staff, what information and knowledge they use, where they find it and in the process establish the gaps, and challenges staff face as they carry out their core research duties. The audit adopted a qualitative approach to research, where interviews were the primary source of data collection. An interview guide was developed to facilitate the data collection and twelve (12) interviews were conducted. The themes, recurring items, and unique views that emerged guided the analysis. Recommendations to improve the current knowledge and information environment took the form of a 'Road Map for Knowledge Management' that the organisation can adopt to enhance the current operating system. The knowledge and information audit showed that the organisation is very knowledge-oriented and extensively engaged in knowledge work even though this is not explicitly referred to as 'Knowledge Management'. Many shortcomings were identified with regard to the knowledge and information system that is currently in place and these specifically relate to: the organisational structure, organisational memory, organisational technology infrastructure, infrastructure, knowledge sharing activities, and the organisational culture. The results suggested that the organisation needs to strengthen aspects in these areas in order to remain efficient and support the staff in their daily work activities. The outcomes further suggest that knowledge audit methodologies (as an area of knowledge management) need to develop and be standardized and that more research needs to be conducted in this field of knowledge management

Characteristics of Non-Audit Services and Financial Restatements in Malaysia

Various types of purchased non-audit services (NAS) and their recurring nature affect the likelihood of financial statement restatements in Malaysia. Based on 953 firm-year observations during the period 2007–2009, evidence of a negative relationship between non-audit fees and financial statement restatements is provided. The purchase of both tax-related and audit-related NAS decreases the likelihood of restatements. Recurring (as opposed to non-recurring) tax-related and audit-related NAS are negatively and significantly related to the likelihood of restatements. These findings support our hypothesis that both types of NAS and their recurrence provide knowledge spillover, which enhances audit and financial reporting quality. When considering institutional settings, we find that politically connected firms are more likely to require financial restatements than non-politically connected firms, while audit committee independence and the purchase of tax-related, recurring tax-related and other NAS decrease this likelihood. The purchase of audit-related and recurring audit-related NAS and non-recurring other NAS decreases the likelihood of restatements for non-politically connected firms

The Effect of Competence, Independence, and Size of Public Accounting Firms on Audit Quality

Auditor requires competence and independence as well as the support from the size of public accounting firms to improve audit quality. The purpose of this study is to determine the effect of competence, independence and the size of public accounting firms on audit quality. This research subject is the auditor in Bandung, which have at least 2 years of experience in a public accounting firm. The research sample is the auditor in Bandung who have worked at least two years in a public accounting firm with total respondents of 59 people. The results showed that the competency of auditors is based on knowledge and experience and independence of an auditor that is honest, impartial, and report the findings in accordance with the evidence as well as the size of the public accounting firm that affect audit quality. To produce a qualified audit, a certified public accountant who works in an audit team is required to have the competence along with good and sufficiend independence

Detection of breech presentation: Abdominal palpation and hand-held scanning by midwives

Background: The NHS Litigation Authority's ‘sign up to safety’ campaign aims to prevent undiagnosed breech birth and possible poor birth outcomes. An audit was completed following the introduction of hand-held scanning ultrasound examination. Aims: The hand-held ultrasound was used by midwives for all women in labour and before induction of labour to confirm presentation. Methods: A criterion-based retrospective audit, conducted over 6 months in 2016, with a sample of 2737 women. Findings: The audit demonstrated that 22 breech presentations were detected when using the hand-held ultrasound before induction of labour or in labour. The audit standard of 100% of women receiving an ultrasound scan was not met, and potential reasons are explored. Conclusions: The results support the use of hand-held ultrasound, as it did detect breech presentation before induction of labour or spontaneous labour and birth. Further work includes the audit of the reasons that hand-held ultrasound scanning was not used, to ensure that a targeted action plan can be created. Future research into midwifery values, cultural attitudes and the effectiveness of abdominal palpation is also needed, to develop the knowledge base on which scanning can be framed

Semantic process mining tools: core building blocks

Process mining aims at discovering new knowledge based on information hidden in event logs. Two important enablers for such analysis are powerful process mining techniques and the omnipresence of event logs in today's information systems. Most information systems supporting (structured) business processes (e.g. ERP, CRM, and workflow systems) record events in some form (e.g. transaction logs, audit trails, and database tables). Process mining techniques use event logs for all kinds of analysis, e.g., auditing, performance analysis, process discovery, etc. Although current process mining techniques/tools are quite mature, the analysis they support is somewhat limited because it is purely based on labels in logs. This means that these techniques cannot benefit from the actual semantics behind these labels which could cater for more accurate and robust analysis techniques. Existing analysis techniques are purely syntax oriented, i.e., much time is spent on filtering, translating, interpreting, and modifying event logs given a particular question. This paper presents the core building blocks necessary to enable semantic process mining techniques/tools. Although the approach is highly generic, we focus on a particular process mining technique and show how this technique can be extended and implemented in the ProM framework tool

The Relationship Between Governance Practices, Audit Quality and Earnings Management: UK Evidence

This thesis examines two empirical studies. Firstly, it examines the relationship between corporate governance characteristics (relating to the size, composition of independent members, financial expertise and meeting frequency of boards of directors and audit committee) and audit quality. Secondly, the study investigates the effectiveness of corporate governance characteristics and higher quality auditors in constraining earnings management. There are three proxies of audit quality employed: audit fees, non-audit fees and industry specialist auditors. Based on data obtained from the FTSE 350 between 2005 and 2008, the first empirical findings suggest that independent non-executive directors on board demand an additional and extensive audit effort from the auditor in order to certify their monitoring function, resulting in an increase in the audit fees and the perceived audit quality. The results also indicate a positive relationship between independent board and non-audit fees, suggesting that independent board support the view that the joint provision of audit and non-audit services does not necessarily compromise auditor independence, but rather that it broadens the auditors’ knowledge and improves audit judgement. The findings from the second empirical study suggest that higher quality auditors (which either charge higher audit fees or are industry specialist auditors) are likely to reduce earnings manipulation. However, no evidence suggests that NAS fees affect earnings management. In addition, the current study finds inconsistent results linking the corporate governance characteristics and opportunistic earnings. Overall, both findings are consistent with agency theory, which states that independent board and higher quality auditors are associated with effective monitoring, which in turn helps to improve the quality of financial reporting. The findings are of potential interest to policy makers, professionals and boards of directors, especially on issues relating to audit quality and the mandating of corporate governance practices

Do Mental Health First Aid™ courses enhance knowledge?

Purpose Biased assumptions and unhelpful tendencies in human nature can lead people who are experiencing mental illness to shun help and support. Mental illness is often perceived as immutable and/or a sign of weakness. Even those seeking support may not receive the assistance they need. Advice may be unsuitable or people feel too nervous and challenged to help. The Mental Health First Aid™ courses, like general first aid, are designed to enhance community knowledge and thereby support appropriate assistance. The purpose of this paper is to evaluate the extent to which this is achieved. Design/methodology/approach An educational audit based upon a short quiz administered anonymously to 162 tertiary students from a range of disciplines, before and after delivery of the standard 12 hour Mental Health First Aid™ course. This was used to examine assumptions and proposed actions before and after training. Findings Analysis of the 162 responses found that the Mental Health First Aid™ courses significantly improve knowledge. This has the potential to increase understanding and support for those suffering mental illness. Research limitations/implications This educational audit looked only at knowledge improvement. Whether this really does translate into improved outcomes requires further investigation. Practical implications Tertiary students who are enrolled in health courses and others which involve human interaction as provision of services will be empowered with skills that enable them to interact with those who they will be serving at well-informed level and equity. Social implications Social inclusion and de-stigmatising mental health issues Originality/value Mental health first aid courses potentially enable individuals who are not otherwise involved in mental health to assist people in need