{"title":"Real-time audit of public agencies: Utility, controversy and lessons for an emerging practice","authors":"Yoram Rabin, Roy Peled","doi":"10.1111/ijau.12333","DOIUrl":null,"url":null,"abstract":"<p>Real-time audit is the auditing of actions as they occur and the publishing of findings before the audited action was completed. It is an emerging practice of Supreme Audit Institutions (SAIs) in many countries, and it marks a stark departure from the traditional ‘after-the-fact’ auditing practice. Real-time audits have been widely used in the auditing of COVID-19 relief programmes in many countries. Whereas in the United States and many other countries, this practice became popular only in recent years, Israel's SAI in Israel has been conducting real-time audits since the 1970s. The article surveys SAI practices in various countries regarding the timeliness of the auditing of public agencies and presents the pros and cons of real-time audits based on an analysis of the Israeli experience. We conclude by outlining several issues that SAIs should consider before choosing to conduct a real-time audit.</p>","PeriodicalId":47092,"journal":{"name":"International Journal of Auditing","volume":"28 2","pages":"328-339"},"PeriodicalIF":2.1000,"publicationDate":"2023-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Auditing","FirstCategoryId":"91","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/ijau.12333","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
Real-time audit is the auditing of actions as they occur and the publishing of findings before the audited action was completed. It is an emerging practice of Supreme Audit Institutions (SAIs) in many countries, and it marks a stark departure from the traditional ‘after-the-fact’ auditing practice. Real-time audits have been widely used in the auditing of COVID-19 relief programmes in many countries. Whereas in the United States and many other countries, this practice became popular only in recent years, Israel's SAI in Israel has been conducting real-time audits since the 1970s. The article surveys SAI practices in various countries regarding the timeliness of the auditing of public agencies and presents the pros and cons of real-time audits based on an analysis of the Israeli experience. We conclude by outlining several issues that SAIs should consider before choosing to conduct a real-time audit.
期刊介绍：
In addition to communicating the results of original auditing research, the International Journal of Auditing also aims to advance knowledge in auditing by publishing critiques, thought leadership papers and literature reviews on specific aspects of auditing. The journal seeks to publish articles that have international appeal either due to the topic transcending national frontiers or due to the clear potential for readers to apply the results or ideas in their local environments. While articles must be methodologically and theoretically sound, any research orientation is acceptable. This means that papers may have an analytical and statistical, behavioural, economic and financial (including agency), sociological, critical, or historical basis. The editors consider articles for publication which fit into one or more of the following subject categories: • Financial statement audits • Public sector/governmental auditing • Internal auditing • Audit education and methods of teaching auditing (including case studies) • Audit aspects of corporate governance, including audit committees • Audit quality • Audit fees and related issues • Environmental, social and sustainability audits • Audit related ethical issues • Audit regulation • Independence issues • Legal liability and other legal issues • Auditing history • New and emerging audit and assurance issues
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