Internal Accounting Control Evaluation and Auditor Judgement: An Anthology Routledge New Works in Accounting History

This anthology presents the results of a comprehensive empirical study of internal control evaluation and auditor judgment initiated by Peat, Marwick, Mitchell & Co. in 1977 and originally published as an American Institute of CPAs research monograph in 1981. The research consisted of a series of five field experiments and a related verbal protocol study.

The experimental task involved audit program planning given a comprehensive set of audit work-papers. The AICPA monograph was awarded the American Accounting Association Wildman Award in 1982. The anthology extends the original AICPA monograph in the following ways: An updated review of the professional literature related to internal control has been integrated into chapter 2. * The original statistical results that were based primarily on univariate analyses have been augmented by multivariate analyses. * The process tracing (verbal protocol) results have been revised to include additional decision process analyses and also to include an analysis of the decision criteria utilized by the auditors. * The summary and implications chapter has been augmented to include the new analyses listed above.

In addition, we now discuss how the research was field tested and implemented at Peat Marwick Mitchell & Co. (now KPMG) into a new audit approach designated as SEADOC