Enhancing auditor’s fraud risk assessment competency through forensic accounting training / Mohamad Mahsun

The Fraud Risk Assessment (FRA) plays a significant role in any financial audit activities of any organisation. The auditor’s opinion may influence organisations in various aspects, such as decision-making, performing financial transactions, and organisational culture. Therefore, auditors in Indones...

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Main Author:	Mahsun, Mohamad
Format:	Thesis
Language:	English
Published:	2022
Subjects:	Risk management Risk in industry Operational risk
Online Access:	https://ir.uitm.edu.my/id/eprint/76677/1/76677.pdf
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id	my-uitm-ir.76677
record_format	uketd_dc
spelling	my-uitm-ir.766772023-05-29T04:25:56Z Enhancing auditor’s fraud risk assessment competency through forensic accounting training / Mohamad Mahsun 2022 Mahsun, Mohamad Risk management. Risk in industry. Operational risk Commercial crimes. Financial crimes The Fraud Risk Assessment (FRA) plays a significant role in any financial audit activities of any organisation. The auditor’s opinion may influence organisations in various aspects, such as decision-making, performing financial transactions, and organisational culture. Therefore, auditors in Indonesia must follow the technical guidance and applicable audit standards on FRA. Generally, this study aims to investigate FRA practice at the Supreme Audit Board (SAB) of the Republic of Indonesia, the challenges faced by the auditors in carrying out FRA, the impact of auditor’s competency in preparing FRA, and the roles of professional training in FRA Processes. This study determined the sample purposively. Data was collected through interviews with auditors, focus group discussions with training institution staff and trainers, curriculum and other documentation, and non-participatory observation. This study found that SAB auditors did not conduct FRA at the audit planning stage because they lacked understanding in preparing the Fraud Risk Assessment Matrix (FRAM). Other challenges in implementing FRA is time pressure and financial budget. They have to finish annual financial statement audit within only 2 (two) months. Also, their budgets and human resources are limited. Furthermore, this study found that auditors with forensic accounting education backgrounds performed better FRA than those who did not. It was also found that the Supreme Audit Board Training Centre, known as Badan Pendidikan dan Pelatihan (Badiklat) SAB, did not provide training on preparing the FRAM. Badiklat SAB also has no forensic accounting curriculum to develop auditor’s technical and investigative skills, including non-financial measurement. They also did not have trainers/educators with forensic accounting education qualifications. Practically and theoretically, this study contributes to the auditor’s forensic accounting competency development. This study leads to another in-depth study of several critical processes identified for fraud prevention and detection practices— for example, education issues about fraud, anti-fraud systems, and forensic accounting techniques in auditing. Future research can investigate the relationship between FRA practices and investigative audits with forensic accounting knowledge variables as moderating 2022 Thesis https://ir.uitm.edu.my/id/eprint/76677/ https://ir.uitm.edu.my/id/eprint/76677/1/76677.pdf text en public phd doctoral Universiti Teknologi MARA (UiTM) Accounting Research Institute Mohamed, Nafsiah Norzehan, Sharifah Yuhertiana, Indrawati
institution	Universiti Teknologi MARA
collection	UiTM Institutional Repository
language	English
advisor	Mohamed, Nafsiah Norzehan, Sharifah Yuhertiana, Indrawati
topic	Risk management Risk in industry Operational risk Risk management Risk in industry Operational risk
spellingShingle	Risk management Risk in industry Operational risk Risk management Risk in industry Operational risk Mahsun, Mohamad Enhancing auditor’s fraud risk assessment competency through forensic accounting training / Mohamad Mahsun
description	The Fraud Risk Assessment (FRA) plays a significant role in any financial audit activities of any organisation. The auditor’s opinion may influence organisations in various aspects, such as decision-making, performing financial transactions, and organisational culture. Therefore, auditors in Indonesia must follow the technical guidance and applicable audit standards on FRA. Generally, this study aims to investigate FRA practice at the Supreme Audit Board (SAB) of the Republic of Indonesia, the challenges faced by the auditors in carrying out FRA, the impact of auditor’s competency in preparing FRA, and the roles of professional training in FRA Processes. This study determined the sample purposively. Data was collected through interviews with auditors, focus group discussions with training institution staff and trainers, curriculum and other documentation, and non-participatory observation. This study found that SAB auditors did not conduct FRA at the audit planning stage because they lacked understanding in preparing the Fraud Risk Assessment Matrix (FRAM). Other challenges in implementing FRA is time pressure and financial budget. They have to finish annual financial statement audit within only 2 (two) months. Also, their budgets and human resources are limited. Furthermore, this study found that auditors with forensic accounting education backgrounds performed better FRA than those who did not. It was also found that the Supreme Audit Board Training Centre, known as Badan Pendidikan dan Pelatihan (Badiklat) SAB, did not provide training on preparing the FRAM. Badiklat SAB also has no forensic accounting curriculum to develop auditor’s technical and investigative skills, including non-financial measurement. They also did not have trainers/educators with forensic accounting education qualifications. Practically and theoretically, this study contributes to the auditor’s forensic accounting competency development. This study leads to another in-depth study of several critical processes identified for fraud prevention and detection practices— for example, education issues about fraud, anti-fraud systems, and forensic accounting techniques in auditing. Future research can investigate the relationship between FRA practices and investigative audits with forensic accounting knowledge variables as moderating
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Mahsun, Mohamad
author_facet	Mahsun, Mohamad
author_sort	Mahsun, Mohamad
title	Enhancing auditor’s fraud risk assessment competency through forensic accounting training / Mohamad Mahsun
title_short	Enhancing auditor’s fraud risk assessment competency through forensic accounting training / Mohamad Mahsun
title_full	Enhancing auditor’s fraud risk assessment competency through forensic accounting training / Mohamad Mahsun
title_fullStr	Enhancing auditor’s fraud risk assessment competency through forensic accounting training / Mohamad Mahsun
title_full_unstemmed	Enhancing auditor’s fraud risk assessment competency through forensic accounting training / Mohamad Mahsun
title_sort	enhancing auditor’s fraud risk assessment competency through forensic accounting training / mohamad mahsun
granting_institution	Universiti Teknologi MARA (UiTM)
granting_department	Accounting Research Institute
publishDate	2022
url	https://ir.uitm.edu.my/id/eprint/76677/1/76677.pdf
_version_	1783736117802041344

Enhancing auditor’s fraud risk assessment competency through forensic accounting training / Mohamad Mahsun

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