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Title: Seasonality in the Maltese statutory auditor’s workload and its abatement
Authors: Cutajar, Noella
Keywords: Auditing -- Malta
Accounting firms -- Malta
Auditing -- Quality control
Issue Date: 2015
Abstract: Purpose: This study seeks to analyse the characteristics of the season in which the majority of audits are carried out, namely the busy season. It also aims to assess the measures and procedures implemented by local auditors to reduce the negative effects of the busy season and evaluate how audit clients can help to mitigate these effects. Design: The objectives of the study were achieved through 15 semi-structured interviews conducted with representatives from audit firms and sole practitioners in Malta, with sufficient experience in the auditing profession. Findings: The study’s results showed that the busy season in the auditing profession in Malta has become less defined. Time pressures, long working hours, auditor burnout and reduced audit quality are the major characteristics of the busy season. The lack of cooperation by audit clients is one of the main reasons why auditors are faced with the negative effects of the busy season. A variety of measures and procedures are implemented by audit firms and sole practitioners prior to and during the busy season to reduce its negative effects. Conclusion: The study arrives at a conclusion that although there is still a period in which auditors have to carry out the majority of audit work on audit engagements whose deadline falls during the same period, local auditors are putting a lot of effort to manage the negative effects of the busy season. Implications: While continuing to apply the measures and procedures currently in place, local audit firms and sole practitioners can adopt any other measures mentioned in this study to keep the negative effects of the busy season to a minimum. Apart from this, there is the need for audit clients to understand the importance of being cooperative during the audit.
Description: M.ACCTY.
Appears in Collections:Dissertations - FacEma - 2015

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