School of Accountancy (ETDs)

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    An exploratory study in South Africa: Big Data and auditing
    (2021) Petermann, Dimitri
    This study explores the latest development in audit technology: the adoption of Big Data in a South African context. It addresses three themes: whether there is a responsibility to incorporate Big Data when auditing financial statements under current auditing standards and if so, in what ways should Big Data be incorporated to evidence compliance with these standards. If not, under what circumstances such a responsibility may exist. Individual semi-structured interviews were conducted with 20participants. The individuals interviewed, among them external auditors, audit academics, and employees of audit regulators and professional bodies, have practical experience and demonstrable knowledge of the current auditing standards. A conventional content analysis was used to identify core themes in the interview and recommend areas for further research. Participants unanimously agree that there is an implied responsibility to enhance their digital acumen to meet the ethical requirements of an audit. Most of the participants suggest that risk assessment procedures should include data analytics, auditors should verify the reliability of client data and that the inclusion of Big Data in an audit depends on clients’ specific circumstances. This study is one of the first empirical accounts to provide a South African perspective on Big Data in auditing and to consider Big Data within the context of current auditing standards
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    Change of audit firms and whether it enhances independence
    (2018) Govender, Keshika
    This paper explores the change in auditors and whether it enhances auditor independence and credibility of financial statements. In recent years due to financial crises and accounting scandals, the rotation of a company’s auditors, after long standing relationships, have come into the limelight. The independence of auditors has come into question and the credibility of financial statements. Interviews were conducted to gain an understanding of how an audit client, referred to in this report as the Company, changed its auditors. The interviews gained an understanding of how the Company: • Made the decision to change and appoint new auditors • Determined whether this change enhanced independence and • Created processes in order to manage the changeover. The Company carrying out the change was analysed in order to understand the processes which were put in place to manage the change. Understanding the criteria and skills required from the new auditor was also investigated. The study finds that the process of appointing and transitioning to new auditors is a comprehensive and rigorous task. This process requires proper and careful planning, risk identification and process and project management. Throughout the process, the Company met with business its operations and provided feedback to members of the boards to ensure gaps were filled and targets and milestones were met. The onboarding of the new auditors required engagement with both the auditors and different functions and businesses of the Company. The success of this project required intense planning and incredible momentum, which the study shows, over the period of time in which the change took place. It required integration with all businesses of the Company and the group finance function.