Priscilla Burnaby

Influences on Students' Choice of College Major

In this study, the authors surveyed undergraduate students at a large northeastern business school concerning influences on their choices of major. The authors examined factors such as why students initially select particular majors and which positive and negative factors relate to any later changes in those choices. Results show that interest in the subject was the most important factor for incoming freshmen, regardless of gender. For women, the next most influential factor was aptitude in the subject. However, men were significantly more influenced by the majors potential for career advancement and job opportunities and the level of compensation in the field. Students appeared to be driven to change their major because of positive factors about the new major, rather than negative factors related to the old major.

The impact of information technology on the audit process: an assessment of the state of the art and implications for the future

In the future, paperless audits will become commonplace as audit clients increasingly shift to paperless systems and audit software is developed that allows auditors to complete most procedures on‐line. To audit on‐line systems, auditors will have to incorporate on‐line audit software as their primary audit tool and gather evidence electronically. Assesses the current impact of technology on the audit process, and discusses the future implications of technological trends for the auditing profession. More specifically, provides a summary of how information technology has impacted audit planning, testing, and documentation.

The Americas literature review on internal auditing

Purpose – By conducting the 2006 global Common Body of Knowledge (CBOK) study, The Institute of Internal Auditors (The IIA) attempts to better understand the expanding scope of internal auditing practice throughout the world. The purpose of this review of recent internal auditing literature in The Americas is to document how the internal audit function is changing in response to the shifts in global business practices.Design/methodology/approach – The literature in The Americas is reviewed with a focus on developments that have implications for the expanded scope of internal auditing and the changing skill sets of internal auditors. This focus has implications for CBOK 2006.Findings – The literature indicates a paradigm shift in the activities performed by internal auditors. The increasing complexity of business transactions, a more dynamic regulatory environment in the USA, and significant advances in information technology have resulted in opportunities and challenges for internal auditors. Although in ...

The importance of intellectual capital and its effect on performance measurement systems

The first objective of this paper is to provide evidence concerning the relationship between selected organizational characteristics and the perceived importance of intellectual capital. The second objective is to relate the relative importance of intellectual capital to characteristics of the organization’s performance measurement systems. Due to their in‐depth knowledge of their entities’ business operations, internal auditors are used to provide the data for this study. The results of a survey administered to 54 internal auditors indicate that the industry of a company is not related to that company’s attitude about intellectual capital. The size of the internal audit department is related to a company’s attitude about intellectual capital. Companies with larger internal audit departments believe that intellectual capital is very important. Finally, the evidence suggests that business performance measurement systems are being implemented to a larger extent at entities that place a greater emphasis on intellectual capital.

A review of prior common body of knowledge (CBOK) studies in internal auditing and an overview of the global CBOK 2006

Purpose – The 2006 global common body of knowledge (CBOK) study is part of an ongoing research program that will broaden the understanding of how internal auditing is practised throughout the world. At the core of the 2006 CBOK study are three surveys of internal auditors worldwide regarding their professional activities. This paper reviews past CBOK studies and introduces the 2006 CBOK research project.Design/methodology/approach – The findings of prior CBOK studies are reviewed, and additional topics are identified to develop the topical areas to be covered in CBOK 2006.Findings – Past CBOK studies covered many of the same topical areas. Recent changes in The Institute of Internal Auditors Professional Standards, introduction of new technology, and the expanding complexity of business operations require new knowledge and skills for internal auditors. CBOK 2006 will be designed to address these issues.Originality/value – By presenting an overview of past CBOK studies and discussing the rationale for the ...

Ten steps to enterprise‐wide risk management

Purpose – The purpose of this paper is to discuss the objectives of enterprise‐wide risk management (ERM), the Committee of Sponsoring Organizations (COSO) ERM Framework, and outline a method to implement ERM in organizations.Design/methodology/approach – This paper delineates ten steps organizations can use to develop a viable ERM system for any organization.Findings – It is highly recommended that a high‐level risk officer with visible support from senior and board level executives has a separate function to oversee the development of an ERM department.Practical implications – Although the internal audit department has a large role in evaluation and monitoring the ERM system, it is managements responsibility to develop a strong ERM function that ties corporate strategy, the budget, controls, and the entitys performance measurement systems to risk management.Originality/value – The cost to the entity of implementing and maintaining of an ERM system is grossly out‐weighed by the results and knowledge ga...

A summary of the global Common Body of Knowledge 2006 (CBOK) study in internal auditing

Purpose - The 2006 global Common Body of Knowledge (CBOK) study is part of an ongoing research program designed to document how internal auditing is practiced. The purpose of this paper is to summarize responses to three global surveys of internal auditors. Design/methodology/approach - Based on literature reviews and a pre-scope questionnaire, the researchers develop three questionnaires that are answered by internal auditors world wide. Topics in the questionnaires, which are translated from English into 16 languages, include the attributes of an effective internal audit activity (IAA); compliance with The Institute of Internal Auditor (IIA) Standards; internal auditor skills, competencies, and knowledge; internal audit tools and techniques; and emerging roles of the IAA. Findings - The profession of internal auditing is a rich resource for organizations as the IAA monitors the adequacy and effectiveness of managements internal control framework and contributes to the integrity of corporate governance; risk assessment; and financial, operating, and IT systems. Practical implications - The participation of IIA members from 91 countries and 9,366 usable responses provides information about the evolving role of internal auditing as a value-added activity that helps an organization manage its risks and take advantage of opportunities. The CBOK 2006 database can be used to improve the understanding of the current state of internal auditing practices; anticipate the use of new skills, tools, and technologies; and promote the enhancement of standardization and performance of internal auditing world wide. Originality/value - This paper summarizes information in the most comprehensive database ever to capture a current view of the global state of the internal audit profession.

The use of performance measures as an integral part of an entity's strategic plan

Purpose – The objective of this paper is to gain an understanding of the multiple ways companies are using performance measures throughout the organization in the areas of strategic planning, monitoring operations, and evaluation of employees work and satisfaction with the company and suppliers.Design/methodology/approach – A survey was developed and distributed to internal auditors to gather information on how their companies used performance measures.Findings – The results suggest that most companies tend to have an internal focus when using performance measures and place less value on benchmarking with competitors and suppliers.Originality/value – Based on the results of the survey, performance measures are used throughout the organization for numerous reasons from the determination of whether strategic goals are being met to evaluation of suppliers.

A survey of internal auditors to establish the scope of the common body of knowledge study in 2006

Purpose – To present the results of a survey of internal auditors worldwide to determine the scope of the topics to be included in The IIAs Global Common Body of Knowledge Study (CBOK) 2006.Design/methodology/approach – The researchers developed a prescope questionnaire and surveyed a small sample of experienced internal auditors worldwide. All three CBOK 2006 teams (Americas, Asia Pacific and Europe/Africa) participated in data gathering from internal auditors in their regions. The questionnaire contained topics that were adapted from The IIA Practice Standards, past CBOKs ands other relevant prior research. The questionnaire also provided space for inclusion of “Other” topics by respondents.Findings – The respondents agreed with the inclusion of a majority of the topics listed in the prescope questionnaire in the global CBOK 2006 survey. Many “Other” topical areas were also suggested for inclusion.Originality/value – The survey results are providing invaluable information to the researchers in their ef...

Internal auditing: The emergence of an international profession?

Abstract This study searches for evidence of professionalism in the practice of internal auditing by IIA members in eleven countries: Australia, Canada, France, India, Israel, Italy, Japan, New Zealand, South Africa, the United Kingdom, and the United States. A questionnaire survey investigated (1) the effectiveness of the internal auditors professional culture to achieve compliance with Internal Auditing Standards; (2) the extent of the internal auditors independence from management, and (3) the scope of work performed by the internal auditor. The survey reveals wide adherence to the Standards. For most countries, common elements of independence and overall scope of work exist within the boundaries of generally known cultural differences. The findings indicate that evidence of the elements of professionalism is present in the countries surveyed.