Data Analytics in an Audit: Examining Fraud Risk and Audit Quality

ABSTRACT DATA ANALYTICS IN AN AUDIT: EXAMINING FRAUD RISK AND AUDIT QUALITY by Sondra Smith This study is comprised of two papers which examine, through interviews and an experiment, the current practices of data analytics of CPA firms, whether and how fraud risk impacts the usage of data analytics in an audit, and the effect data analytics has on the efficiency and effectiveness of an audit. The implementation of data analytics in an audit is relatively new, and there is not a good understanding of how it is currently being used in practice. Although historically the auditing profession has been slow to adopt new technologies, the need for auditors to embrace new technologies is critical to keep pace with their clients. Interviews with auditors show that data analytics is used in at least half of all audits, two-thirds believe that data analytics is used more when fraud risk is high, and all of the participants stated their firm plans to increase usage of data analytics in the future. Prior inspection reports of the Public Company Accounting Oversight Board (PCAOB) indicate auditors fail to appropriately modify their standard audit procedures in response to the risk of fraud (PCAOB, 2007, 2008). If data analytics is incorporated as a modification to standard audit procedures when fraud risk is higher, an auditor can adjust the nature and extent of the procedures and possibly provide a more efficient and effective audit. Results from the experiment show fraud risk does not influence the use of data analytics; however, a correlation exists between audit experience and a higher use of data analytics. Data analytics was shown to yield more budgeted hours; therefore, instead of being efficient from a time perspective, the use of data analytics leads to a less efficient audit. On the other hand, there is some evidence that auditors who used more data analytic procedures were less apt to perform unnecessary procedures (they were less inefficient compared to experts) and were more effective at choosing the correct procedures. Finally, there is no evidence auditors are able to effectively modify data analytic procedures in response to fraud risk, but auditors are able to modify total audit procedures as fraud increases (decreases)

A Phenomenological Study of Felt Sense among Beginning Counselors

This qualitative study explored the lived experiences of felt sense among six graduate counseling students. Each participant engaged in two semi-structured interviews and completed a journal of felt sense experiences. A Hermeneutic phenomenological method was used to analyze interview transcripts and journals. Findings, as well as implications for counselor education, supervision, and counseling practice, are discussed

Counseling Families in Poverty: Moving from Paralyzing to Revitalizing

Counseling families in poverty can be a daunting process if one only focuses on what is lacking. Taking such a deficit approach is limiting not only to the counselor but also can serve to disempower the clients. This paper presents a strengths-based approach for counseling families living in poverty that emphasizes relational processes and the excavation of resources and resilience. More specifically, recommendations are presented that recognize the contextual factors of families living in poverty and that stress the therapeutic relationship, counselor self-reflection, an unassuming professional stance, and taking on of an advocacy role

An Attachment Model for Assessing Suicidal Risk

A model for addressing suicidal risk utilizing attachment theory is addressed. Risk factors for suicide have generally been conceptualized at the level of individual characteristics rather than relational dynamics. Combining Shneidman’s common characteristics of a suicidal person with Bowlby’s attachment theory provides for a more relational view of suicide-related behaviors and communications. Considering high rates of suicide, especially among some population groups, it is important to have a more comprehensive framework for suicidal risk from which to treat suicidal clients

Creative Group Strategies for Interviewing Applicants for Counselor Education Programs

Counselor educators have the challenging task of screening applicants for their programs. This process involves assessing applicants’ academic potential, as well as their dispositions and behaviors. This manuscript focuses on the use of creative group strategies to assess the personal characteristics of applicants in gatekeeping for the counseling profession. The authors present several creative strategies to assist counselor educators in screening applicants

A Phenomenological Study of Counseling Students’ Experiences with Ambiguity

Six master’s-level counseling students were interviewed about their phenomenological experiences of ambiguity in counselor preparation. Analysis revealed five themes: students’ preparation for ambiguous experiences, ambiguities of counselor preparation, accompanying overwhelming feelings, coping approaches, and self-assurance gained from facing ambiguity. These findings have implications for counselor education and supervision

Interpreting Rich Pictures using Content Analysis

Rich pictures have roots in soft systems and are widely used by practitioners to understand complex problems from many stakeholder viewpoints. This study uses rich pictures as a tool for collaborative drawing to explore international student experience in Scotland. Historically rich pictures are difficult to interpret and are often used to gain a holistic understanding of a system of concern and thus are disregarded in terms of providing in-depth qualitative data. We will explore the use of inter-coder content analysis to gain a deep understanding of group thinking. In the context of this study, using content analysis, our findings revealed a detailed understanding of Scottish culture and traditions from the perspective of international students. We determine that visuals have a vast capacity to communicate, irrespective of possible language, culture and education barriers, and thus offer unique insight into a complex system of stakeholder understanding

The Impact Of Online Quizzing On Student Success In An Introductory Financial Accounting Class

We document the impact of transitioning to online quizzing in an introductory Financial Accounting course.  Results show significantly increased course pass rates, significantly increased individual exam averages, and lower overall drop rates

An Enhanced Approach to Living and Learning Together at IUP: Living-Learning Community Certificate Programs

This article details the development of Living-Learning Community Certificate Programs (LLC-CPs) at Indiana University of Pennsylvania (IUP). Based on the Best Practices Model for living-learning programs proposed by Inkelas et al. (2018), LLC-CPs will engage cohorts of students in a four-semester sequence of intentionally integrated courses and assignments, organized around development of “essential skills and practices” enhanced by participation in required residential co-curricular experiences. We expect that LLC-CPs will result in both a sense of student belonging and purpose leading to greater retention and persistence as well as a mid-college credential noted on their transcript, providing students an early sense of academic accomplishment and an advantage when seeking future internships, graduate study, or employment opportunities. This article outlines two example LLC-CPs, explores the anticipated benefits of LLC-CPs to students, faculty/staff, and institutions, and offers suggestions for program implementation