Audit education and the real-time economy

Miklos A. Vasarhelyi, Ryan A. Teeter, J. P. Krahel

Research output: Contribution to journalArticlepeer-review

32 Scopus citations

Abstract

The real-time economy (RTE) changes the way accounting information is received, processed, and analyzed. Consequently, it drives demand for auditors who possess enhanced skills and attitudes. Unsurprisingly, the current generation of auditing students expects to be well prepared when entering the profession and facing these new challenges. Auditing educators have the unique opportunity to assume a leading role and empower modern auditors, arming them with the best weapons available to combat error and fraud. This position paper discusses the changing function of the auditing profession, analyzes the advancement of auditing technology featuring continuous auditing and monitoring, and identifies three primary attributes (attitudes, technical competences, and behaviors) that will define the RTE auditor. For each of these attributes, this paper identifies educational media (or instructional tools) that may be incorporated into auditing curricula as a way of introducing and developing these skills.

Original languageEnglish (US)
Pages (from-to)405-423
Number of pages19
JournalIssues in Accounting Education
Volume25
Issue number3
DOIs
StatePublished - Aug 2010
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Education
  • Accounting

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