What Do Industry-Specialist Auditors Know?
Posted: 16 Sep 1999
Recent shifts in audit practice have dprovided more substantive and pervasive roles for specialized industry knowledge (e.g., see Bell et al. ). Specifically, most of the largest firms now are structured along industry lines and designate most, if not all, of their auditors as industry specialists (Emerson ). This change suggests that a preferred way for auditors to acquire industry knowledge is via specialized indirect experience (e.g., training) coupled with focused direct experience (e.g., working exclusively on audit engagements in a particular industry). Our experimental investigation of what industry-specialist auditors know is intended to probe the knowledge implications of industry specialists? focused training and narrow, but deep, direct experiences.
JEL Classification: M49, L84
Suggested Citation: Suggested Citation