The part-time practice of statutory auditing in Malta : a study

Abstract

Purpose: This study seeks to identify challenges of working as a part-time audit practitioner when compared to a full-time audit practitioner and it also seeks to assess whether and how the challenges identified can be adequately addressed. Design: This study adopted a qualitative research approach to achieve the objectives. In total 20 interviews were carried out. Semi-structured interviews were conducted with 18 part-time audit practitioners, a representative of the Accountancy Board and a representative from the Small and Medium-Sized Practices Committee of the Malta Institute of Accountants. Findings: From the interviews conducted it was found that the majority of participants view part-time audit practitioners to have similar challenges when compared to full-time audit practitioners. Participants mentioned that some of the challenges faced by the profession could be mitigated by better planning, time management and by clients being more cooperative. Conclusion: This study concludes that, in reality, from a part-time audit practitioner’s point of view, the challenges faced by full-time audit practitioners are quite similar to those encountered by part-time audit practitioners. Implications: Since in Malta there are quite a few audit practitioners working on a part-time basis, it would be quite beneficial to adopt some of the recommendations presented in the study. This might help reduce some of the burdens part-time audit practitioners face.