Latest Approaches in Measuring the Added Value of Audit and Challenges
International Panel, İstanbul 18-19 April 2019
CALL FOR CONTRIBUTION
International Business Economics and Marketing Society (IBEMS) organizes an international congress on “Social Sciences Within the Framework of the Latest Developments in the World”. Within the scope of the Conference, the Turkish Court of Accounts will hold a panel about “Latest Approaches in Measuring the Added Value of Audit and Challenges” on 18-19 April 2019 in İstanbul/TURKEY.
This panel is aimed to bring together audit professionals and academicians from all over the world to promote, share and discuss developments in measuring and increasing the added value of audits performed by both private sector and public institutions.
Presentations are expected to be prepared within the framework described below in the Theme Note and each should take approximately 20 minutes.
Please submit your Abstracts (composed of min 250-max 400 words) to email@example.com
- 12 April 2019 – Event Registration Deadline
- 1 April 2019 – Submission of Abstracts
- 10 April 2019 – Submission of Full text
Registrations are to be completed through the registration form under the “Panel on Audit” button at www.ibems.org The deadline for the registrations is 12 April 2019.
Panel language is both Turkish and English. Simultaneous translation will be provided.
Details regarding the accommodation, hotel reservation and airport transfers will be provided soon.
Maltepe University Education Village Cultural Center Maltepe/Istanbul / Turkey
Turkish Court of Accounts
Phone: +90 (312) 295 2750, +90 (312) 295 3896
Audit is defined as an independent and objective activity of assurance and consultancy that aims to improve and add value to entity’s activities. While there exist a consensus on this definition of audit, there are different considerations in literature in defining and measuring the added value that is created by audit activity. Moreover, it is not likely to say that satisfying remarks and conclusions are made in this field even after global financial and economic scandals and crisis having devastating effects. Different stakeholders have different expectations, and this is another factor making it difficult to have a common value definition. Creating added value can be defined as:
- From the auditee’s standpoint; increasing institutional managerial capacity with the trust put in the activities as a result of the increased assurance in the financial statements;
- From the users of financial statements’ standpoint; disclosure of the financial statements in compliance with the reporting framework so as to ensure comparability and reflect the entity’s actual financial position and performance;
- From the auditors’ standpoint; increasing the level of transparency and accountability by promoting the corporate governance capacity for ensuring disclosure of financial statements in compliance with the legal framework;
- From the regulatory authorities’ standpoint; increasing the level of compliance to international standards and internal legislation;
- From the society’s standpoint; increasing the fair and optimum allocation of resources.
While the direct output of the audit is the audit report, its desired impact is to ensure an improvement in the corporate governance capacity of the auditee and ultimately create a public value and promote sustainable development. However, the impact and value of audit activity cannot always be measured easily. Although there are some indicators that can be used, the lack of prescribed criteria for measuring the whole impact of audit makes it difficult to gain insight into value of audit. In a general sense, the improvement in the following areas can be considered important in measuring the impact generated by audit:
- to ensure improvement in the corporate governance capacity of the auditee and welfare in society in general and effect social norms in a broader sense, particularly the legal framework,
- to ensure the proliferation of tutorial and facilitator functions of audit,
- to be responsive to the needs of society and generate corresponding outputs,
- to ensure that the operational effectiveness is increased,
- to ensure the promotion of innovative approaches and use of new technologies,
- to support the successful accomplishment of sustainable development goals,
- to contribute to increasing the public trust in audit and auditing entity through raising the awareness about the value of audit.
This panel aims to share the approaches and good practices of audit professionals and academicians about the definition and measurement of added value and contribute to the literature studies to be made in this field.
18 April 2019;
- 09:30 Opening of Conference
- 12:00 Lunch
- 13:30 Panel on the Latest Approaches in Measuring the Added Value of Audit and Challenges
- 16:30 End of the 1st Session of the Panel
19 April 2019;
- 09:30 2nd Session of the Panel
- 12:00 Lunch
- 13:30 3rd Seesion of the Panel
- 17:30 end Of the 3rd Seeion of the Panel
TÜRMOB Governing Board Member-Former Minister of State Dr. Masum TÜRKER (Moderator)
President of Maldives Auditor General's Office Hassan ZIYATH
President of State Audit Institution of Serbia Dusko PEJOVIC
Deputy Auditor General of Supreme Audit Office Afghanistan Mujeeburrahman SHIRZAD
State Audit Office of the Republic of Latvia/ Council member Edgars KORCAGINS
State Audit Office of Hungary/ Audit Manager József SIMON
OECD-SIGMA Senior Policy Advisor Alastair SWARBRICK
State Audit Bureau of Kuwait/ Controller Exploration Refining Audit Control Section Khalil ALWAZZAN
Chamber of Sworn-in Certified Public Accountants of İstanbul Vehbi KARABIYIK
Association of Public Internal Auditors/ Chairman of Governing Board Bahadır TOPAL
Turkish Economy Bank SME Consultant - Başkent University/ Head of Institute of Social Sciences Prof. Dr. M. Tamer MÜFTÜOĞLU
Public Oversight Authority/ Head of Department Mehmet ŞİRİN
The Institute of Internal Auditing Governing Board Member Okan GÜN
PwC Turkey/ Partner Özkan Kıvanç
KPMG Turkey/Partner H. Nesrin TUNCER
MAZARS Turkey/ Partner Tuğba ŞİMŞEK ÖZADALI
Ernst & Young Turkey/Partner Onur ÜNAL
Deloitte Turkey/ Partner Nazlı İVAK