Auditors’ and Specialists’ Views about the Use of Specialists during an Audit

• In Event: Specialists

Abstract

With the greater spotlight on the quality of auditing in the context of increasing complexity of accounting, auditors are more frequently seeking the assistance of specialists from such fields as tax, information technology, valuations, and forensic accounting. However, despite the extensive reliance on specialists in practice, there has been relatively little academic research in this area. This interview-based study of 40 practitioners from Big 4+2 firms - 18 auditors (partners, managers, seniors) and 22 specialists (tax, IT, valuations and forensics) - examines the current state of specialist use, sources of conflict, auditors’ overconfidence in their ability to perform specialist work, firm policies, and future expectations about utilization of specialist services.

Authors

• Jefim Efrim Boritz, University of Waterloo

• Natalia Kochetova-Kozloski, Saint Mary's University

• Linda Robinson, University of Waterloo

• Christopher Wong, University of Waterloo