Audit evidence, technology and judgement: a review of the literature in response to ED-500

Barr-Pulliam, D., Calvin, C. G., Eulerich, M. and Maghakyan, A. (2023) Audit evidence, technology and judgement: a review of the literature in response to ED-500. Journal of International Financial Management and Accounting, (doi: 10.1111/jifm.12192) (Early Online Publication)

Abstract

In October 2022, the International Auditing and Assurance Standards Board (IAASB) issued Exposure Draft 500 (ED-500). This is focused on revising and integrating the standard auditors use when evaluating audit evidence during an external audit. This study contributes to the ongoing discourse as the IAASB evaluates feedback to ED-500 and executes its standard-setting agenda. We review academic literature published in the past 10 years to synthesize extant knowledge specifically on the use of technology and the application of professional skepticism during audit evidence evaluation. Our review offers factors the IAASB should consider when seeking to modernize and future-proof its standards, suggesting improvements to the proposed ED-500. We also identify fruitful avenues for future academic research.

• Item Type: Articles
• Status: Early Online Publication
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Maghakyan, Dr Arpine
• Authors: Barr-Pulliam, D., Calvin, C. G., Eulerich, M., and Maghakyan, A.
• College/School: College of Social Sciences > Adam Smith Business School > Accounting and Finance
• Journal Name: Journal of International Financial Management and Accounting
• Publisher: Wiley
• ISSN: 0954-1314
• ISSN (Online): 1467-646X
• Published Online: 05 October 2023
• Copyright Holders: Copyright © 2023 The Authors
• First Published: First published in Journal of International Financial Management and Accounting 2023
• Publisher Policy: Reproduced under a Creative Commons licence