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Current practices for resource allocation in external audits of listed South African long‐term insurers

Current practices for resource allocation in external audits of listed South African long‐term... The purpose of this study was to determine current practices for two salient aspects of the audits1 of listed South African long‐term insurers by empirically analysing prevailing practices. First, current practices for the composition of the audit teams responsible for these audits are determined. Thereafter current practice is determined for the proportion of audit time spent by the different specialists on audit teams on the audit of the high‐risk components of policy liabilities and the related earnings. When allocating audit staff and establishing continuing professional development plans for staff the auditors of all listed and unlisted South African long‐term insurers could use the findings of the study as benchmarks. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Meditari Accountancy Research Emerald Publishing

Current practices for resource allocation in external audits of listed South African long‐term insurers

Meditari Accountancy Research , Volume 16 (1): 14 – Apr 1, 2008

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References (16)

Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
1022-2529
DOI
10.1108/10222529200800008
Publisher site
See Article on Publisher Site

Abstract

The purpose of this study was to determine current practices for two salient aspects of the audits1 of listed South African long‐term insurers by empirically analysing prevailing practices. First, current practices for the composition of the audit teams responsible for these audits are determined. Thereafter current practice is determined for the proportion of audit time spent by the different specialists on audit teams on the audit of the high‐risk components of policy liabilities and the related earnings. When allocating audit staff and establishing continuing professional development plans for staff the auditors of all listed and unlisted South African long‐term insurers could use the findings of the study as benchmarks.

Journal

Meditari Accountancy ResearchEmerald Publishing

Published: Apr 1, 2008

Keywords: Audit staff allocation; Auditor industry specialisation; Audit staff development; Continuing professional development; Audit team; Long‐term insurance; Audit team composition; Long‐term insurer; Auditor experience ; Policy liabilities

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