Activating the Elements of Performance Audit Report (Economic - Efficiency - Effectiveness) in Measuring the Performance of External Control Agencies
DOI:
https://doi.org/10.26668/businessreview/2023.v8i5.1292%20Keywords:
Performance Auditing, External Control, Performance Report Elements, Economic - Efficiency - EffectivenessAbstract
Purpose: The research aims to shed light on the theoretical and defining aspect of performance audit in light of the economic elements of the report, efficiency and effectiveness, and its reflection on the performance of external control.
Theoretical framework: the external control represented by the Federal Financial Supervision Bureau and the effective role played by the performance audit in diagnosing the performance elements represented by the economy, efficiency, and effectiveness in the work of external control.
Design/methodology/approach: The research methodology relied on the inductive approach in defining the problem of the study by defining the role that performance auditing provides in diagnosing the points of a defect in the external control to shift from the general to the specific, as well as relying on the deductive approach in order to shift from the specific to the general by generalizing the recommendations and highlighting what Elements of the performance report (economic, efficiency, effectiveness).
Findings: the economic component. There is a waste of the available energy due to the long-term vacations granted to auditors working in the Federal Bureau of Financial Supervision. In terms of the efficiency component, the performance of the Federal Bureau of Financial Supervision decreased in answering complaints received on the whistleblowing service. Financial institutions in government institutions, as well as a decrease in the element of effectiveness when exploiting the allocations allocated to them in the annual financial budget.
Research, Practical & Social implications: Moreover, a statement of the impact on the applied side of the elements of the performance report (economic, efficiency, effectiveness) on auditing the performance of the work of the external oversight bodies in the Iraqi environment, represented by the Federal Financial Supervision Bureau.
Originality/value: This study is one of the very few studies that focus on the performance audit elements (economic, efficiency, effectiveness) in the performance audit report on the work of the Federal Financial Supervision Bureau because of the role of these elements in diagnosing strengths and defects in performance.
Downloads
References
Kadhim, H. A., Abd, W. H., & Kareem, A. D. (2020). The impact of environmental auditing on the environmental dimension of sustainable development (Applied Research on"Environmental Governmental Institutions in Iraq). Ilkogretim Online, pp. 2801-2812.
Abbas, F. A., Abd, W. H., & Kareem, A. D. (2020). The role of the internal auditor in clearing the debit and credit balances of the financial statements to improve performance An analytical study in the Directorate of Agriculture of AlMuthanna from (2016. PalArch's Journals, pp. 16962-16982.
Abd, W. H., Kareem, A. D., & Kadhim, H. A. (2019). Audit Program Proposal for Local Accounts Auditors: Applied Research on a Group of International Auditing Standards. . International Journal of Innovation, Creativity and Change,, pp. pp. 201-221.
Ali, R. H., Abd, W. H., & Kareem, A. D. (2022). The role of the Federal Office of Financial Supervision in auditing industrial activity to achieve sustainable development. World Economics & Finance Bulletin, pp. 38-48.
Badarna, M. S. (2013). Impact of the Effective internal Control System on the Internal Audit Effectiveness at Local Government Level. Journal of Social and Development Sciences, pp. 16-23.
Braiotta, L. (2010). The Audit Committee, Handbook, Fifth edition . Library of Congress.
Chalmers, K. H. (2019). Internal control in accounting research: A review. Journal of Accounting Literature.
Christine, P. C. (2011). The Causes and Consequences of Internal Control Problems in Nonprofit Organizations. . The Accounting Review.
David, H. R. (2008). Evidence on the Impact of Internal Control and Corporate Governance on Audit Fees. International Journal of Auditing.
Donelson, D. c. (2017). Internal Control Weaknesses and Financial Reporting Fraud. Journal of Practice & Theory , pp. 45-59.
Hayes, R. (2005). Principles of Auditing. British : Library Catalog-in-Publication.
J., Wilkins , P. & Ling ,T., Lonsdale. (2011). performance auditing contributing to accountability indemocratic government.
Jack, D. (2006). The Role of Internal Audit in Government Financial Management. .An International Perspective International Monetary Fund, pp. 1-36.
Jeffrey, D. T. (2007). Accruals Quality and Internal Control over Financial Reporting.The Accounting Review.
Kareem, A. D., Jabr, A. J., & Abd, W. H. (2022, 9). The transfer of powers and its role in unifying the products of accounting systems and their impact on the quality of accounting information Applied research "in the province of Al- Muthanna. International Journal of Professional Business Review,, pp. 1-27.
Mohamed El-Toby, B. H., Abd, W. H., & Kareem, A. D. (2022, 11 25). ACTIVATING THE ROLE OF JUDICIAL OVERSIGHT IN IRAQ TO REDUCE THEPHENOMENON OF TAX EVASION: FIELD RESEARCH IN THE FEDERAL OFFICE OFFINANCIAL SUPERVISION . International Journal of Professional Business Review, pp. 1-14.
Natalia, A. Z. (2017). Improving Financial Control over the Government System. Mejorar el control financiero sobre el sistema gubernamental.
Swanson, R. W. (2002). Internal controls: Tools, not hoops Strategic Finance. , . pp. 36-45.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Ahmed Abdulkadhum Abdulabass, Mohammed Ali Hassan, Bushra Hassan Mohamed El-Toby
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
Authors who publish in this journal agree to the following terms: the author(s) authorize(s) the publication of the text in the journal;
The author(s) ensure(s) that the contribution is original and unpublished and that it is not in the process of evaluation by another journal;
The journal is not responsible for the views, ideas and concepts presented in articles, and these are the sole responsibility of the author(s);
The publishers reserve the right to make textual adjustments and adapt texts to meet with publication standards.
Authors retain copyright and grant the journal the right to first publication, with the work simultaneously licensed under the Creative Commons Atribuição NãoComercial 4.0 (http://creativecommons.org/licenses/by-nc/4.0/), which allows the work to be shared with recognized authorship and initial publication in this journal.
Authors are allowed to assume additional contracts separately, for non-exclusive distribution of the version of the work published in this journal (e.g. publish in institutional repository or as a book chapter), with recognition of authorship and initial publication in this journal.
Authors are allowed and are encouraged to publish and distribute their work online (e.g. in institutional repositories or on a personal web page) at any point before or during the editorial process, as this can generate positive effects, as well as increase the impact and citations of the published work (see the effect of Free Access) at http://opcit.eprints.org/oacitation-biblio.html
