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The Alignment of INTOSAI and Romanian Public External Audit Standards, Guidelines and Institutional Focus to the Data Driven Context

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  • Mihai-Răzvan Sanda

    (University of Craiova, Faculty of Economics and Business Administration, Romania)

  • Cristina-Petrina Trincu-DrăguÈ™in

    (The Romanian Court of Accounts, Chamber of Accounts of Dolj County, Romania)

  • Costin-Daniel Avram

    (University of Craiova, Department of Economics, Accounting and International Affairs, Romania)

Abstract

Disruptive technologies are shaping our world in a wide range of manners, from targeted advertising to self-driving cars. Their impact becomes more complex in highly-regulated, judgmentintensive fields, such as public external audit. While auditees operate in an increasingly dataintensive environment, sometimes employing cutting-edge data analysis and automation tools, stakeholders expect the audit profession to step up its game and adapt to some of the better-developed IT technologies, such as robotic process automation or machine learning. While such initiatives begin to crop up, they must adhere to the stern normative framework of public external audit, stemming from INTOSAI and national authoritative audit standards, procedures and guidelines. Our research aims to shed light on the current degree of INTOSAI and Romanian standards and guidance readiness to facilitate the use of some of the latest and potentially beneficial IT concepts, as well as the results of INTOSAI collaborative initiatives on IT matters.

Suggested Citation

  • Mihai-Răzvan Sanda & Cristina-Petrina Trincu-DrăguÈ™in & Costin-Daniel Avram, 2022. "The Alignment of INTOSAI and Romanian Public External Audit Standards, Guidelines and Institutional Focus to the Data Driven Context," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 418-428, Decembrie.
    • Handle: RePEc:ovi:oviste:v:xxii:y:2022:i:2:p:418-428
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    References listed on IDEAS

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    1. Earley, Christine E., 2015. "Data analytics in auditing: Opportunities and challenges," Business Horizons, Elsevier, vol. 58(5), pages 493-500.
    2. Alles, Michael & Gray, Glen L., 2016. "Incorporating big data in audits: Identifying inhibitors and a research agenda to address those inhibitors," International Journal of Accounting Information Systems, Elsevier, vol. 22(C), pages 44-59.
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    Cited by:

    1. Sanda Mihai-Razvan & Militaru Elian-Gabriel, 2023. "European Supreme Audit Institutions: The Constitutional And Legal Coordinates Of Diagonal Public Accountability," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 105-119, October.

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    More about this item

    Keywords

    external audit; data analytics; SAI; audit standards; INTOSAI;
    All these keywords.

    JEL classification:

    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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