A Survey of Time Budget Pressure and Irregular Auditing Practices Among Newly Qualified UK Chartered Accountants

BRITISH ACCOUNTING REVIEW, Vol 28, No 1, March 1996

Posted: 20 Nov 1996

See all articles by Caroline Willett

Caroline Willett

Portsmouth Business School

Michael Page

Portsmouth Business School

Abstract

The paper reports a postal survey of successful finalists of the exams of the Institute of Chartered Accountants in England and Wales. The auditing profession has faced increasing cost pressures arising from competition and economic recession. Firms have striven to increase auditefficiency and reduce chargeable time. It was hypothesized that time budget pressure and other factors might produce irregular short cuts in audit procedures: i.e., that similar behaviour to that reported by Raghunathan (1991) and other studies would be found in the UK. Respondents were asked about the impact of time budget pressures on their work, about irregular auditing practices similar to premature sign off and certain contextual variables. An appreciable incidence of irregular auditing was discovered which was associated, inter alia, with perceptions of time budget pressure, perception of a firm culture of acceptance of irregular short cuts and areas of work which were felt to be unimportant. The implications of the findings for the auditing profession and individual firms are considered together with recommendations for future research.

JEL Classification: M40, M49

Suggested Citation

Willett, Caroline and Page, Michael James, A Survey of Time Budget Pressure and Irregular Auditing Practices Among Newly Qualified UK Chartered Accountants. BRITISH ACCOUNTING REVIEW, Vol 28, No 1, March 1996, Available at SSRN: https://ssrn.com/abstract=2809

Caroline Willett

Portsmouth Business School ( email )

Locksway Road
Department of Accounting and Management Science
Southsea, PO4 8JF
United Kingdom

Michael James Page (Contact Author)

Portsmouth Business School ( email )

Richmond Building
Portland Street
Portsmouth, PO1 3DEJF
United Kingdom
(+44) 02392 844 148 (Phone)
(+44) 02392 844 037 (Fax)

HOME PAGE: http://www.port.ac.uk/departments/academic/ams/staff/title,1396,en.html

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