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Title: Tendering for external audits in public entities : an investigation
Authors: Demanuele, Dorian
Keywords: Administrative agencies -- Auditing -- Malta
Contracting out -- Malta
Auditing, External -- Malta
Auditing -- Malta
Issue Date: 2014
Abstract: Purpose: The dissertation aims at obtaining a wide view of the use of audit tendering by local public entities. It seeks to evaluate the role and reasoning of the stakeholders involved. The dissertation further aims to examine the benefits and limitations emerging from the use of audit tendering locally and assess the applicable regulations and their implementation. Design: Data was obtained mainly through twenty semi-structured interviews with representatives of audit firm, public entities and the National Audit Office. Data regarding the audit fees and name of audit firm of some of the entities which participated in the interviews was also collected. Findings: The majority of the entities under study used audit tendering. Where tendering was not used, the method used had similar characteristics to tendering. In most cases, the entity itself was in charge of the process of auditor selection. In the case of local councils, the NAO used audit tendering to select the local councils auditors. The advantages of audit tendering that emerged were the enhanced competition, the monetary gains and the improved public perception. A limitation observed was the rigidity of the process. Conclusions: Whilst auditors are willing to participate in tenders, public entities view this process as a burden. Hence, changes are required in the regulatory framework, especially in the template used to eliminate any aspects which are incongruent with audit tendering and ensure adequate information is provided to tenderers. Value: Investigation is needed to analyse if the current regulatory framework of audit tendering is resulting in the attainment of the desired service at the best price. This dissertation could also help in identifying which factors are taken into account by public entities in choosing the auditor, thereby guiding auditors on which areas they could focus when submitting a tender to increase their possibility of winning.
Description: M.ACCTY.
Appears in Collections:Dissertations - FacEma - 2014
Dissertations - FacEMAAcc - 2014

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