Strategic Systems Audit
Strategic Systems Audit
Introduction
As the organizations’ business strategies are becoming more complex over time, the auditing practices have been evolving correspondingly over the last century (Bell et al. 1997, 10), from a transaction-based audit prior to 1900, to risk-based audit approach during the twentieth century to today’s “Strategic Systems Audit” (SSA) as promoted by Solomon and Peecher over the last several years to reinvent the financial statement audit. Strategic Systems Audit focuses on the auditing procedures that test the assertions at entity-level based on the holistic understanding of the client business environment and business dynamics (Bell et al. 1997, 10, 22). However, there have been many critics of this approach where some criticize that SSA gave rise to a number of audit failures.
In the light of this, the purpose of this essay is to examine and critique the rationale and practicality of the suggested solutions given by the Strategic......
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Approximate Word Count: 4455
Approximate Pages: 18 (250 words per double-spaced page)
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