Purpose
The purpose of this paper is to analyse stakeholders’ perceptions on the accounting of crypto-assets. They also look at the need to amend/clarify existing accounting standards or develop new ...accounting standards.
Design/methodology/approach
The authors use a qualitative approach featuring interviews with four stakeholder groups including academics, professional bodies, standard setters and accounting practitioners. Interview recordings are transcribed and then analysed through NVivo.
Findings
The interviewees identify various issues in the application of current accounting standards to crypto-assets. The interviewees perceive that the rapid development of crypto-assets and fluidity hinder the development of accounting guidance. Hence, continuous monitoring by standard-setters is required. The general consensus is that unless there are crypto-assets with economic characteristics and functionality that are pervasive enough to warrant a new accounting standard, principles of current accounting standards are robust to address gaps in accounting requirements for crypto-assets.
Originality/value
This study adds to the discussion on harmonising the current practices in accounting of crypto-assets. By examining perceptions of multiple stakeholder groups, this study provides insights into the applicability of current accounting standards to the classification, measurement and disclosure of crypto-assets. The findings will inform standard setters and aid their efforts towards providing formal guidance on the accounting of crypto-assets.
We investigate the use of an audit case study in developing students’ understanding of the key concept ‘material misstatement’. Using semantic differentials, we explore changes in connotative meaning ...(reflecting emotional reaction) of undergraduate students at an Australian university. Shifts in class perspective indicate students perceive the concept as more useful and less fluid after the case study. We contribute to the audit education literature by focusing on this complex concept and developing teaching methodologies to enhance students’ learning. Results support inclusion of comprehensive case studies embedded with judgement and decision making, in accounting curricula to enhance understanding of complex concepts.
The Australian Securities and Investments Commission (ASIC) has concerns that auditors are not adequately evaluating the reliability of the work of management's experts (MEs). We interviewed nine ...experienced auditors to understand how auditors evaluate MEs. We observe that some factors specified by auditing standards, such as an ME's competency in accounting standards, geographical location of the subject matter or the ME, and the sourcing of an ME play a minor role in an auditor's evaluation of an ME's credibility. In contrast, the reputation of an ME's firm is a key determinant. Auditors corroborate information from multiple sources, but verify only the ME's professional qualification. We identify three potential reasons for the ASIC's concerns: “Experts are considered cognitive authorities,” “Documentation is the key,” and “Move from a risk‐based approach to a checklist approach.”
Best practices for group assessment tasks Bayne, Lyndie; Birt, Jacqueline; Hancock, Phil ...
Journal of accounting education,
June 2022, 2022-06-00, Letnik:
59
Journal Article
Recenzirano
•Accounting curricula should include a variety of group assessment tasks.•Group set-up and providing tools to engage in group activities is pivotal.•Group assessment design should necessitate ...discussion and collaboration.•Measures to combat academic dishonesty in an online and remote learning environment.•Self and peer assessment tools to encourage teamwork and mitigate free-rider issues.
The development of teamwork skills for future employability has been noted as a critical skill that graduates require. This paper reports on best practices for the assessment of group work and the development of teamwork skills. We explore distinctions between ‘in-class versus take-home’, ‘multiple choice versus essay style’ and ‘online versus paper-based’ group assessments. Interviews were conducted with 21 key stakeholders involved with two final-year financial accounting units at an Australian university. Overall, we find that students perceive value from a variety of group assessment types throughout their degree for the development of teamwork skills. Benefits and challenges relating to various group assessment types are presented. We tabulate our best practices for group assessment tasks and offer techniques to improve the effectiveness of group assessments in developing teamwork skills.
Using the lens of relational contracting, we examine internal auditors' efforts in building a relationship of trust with management within the context of operational audits. We gain insights into the ...day‐to‐day practices of internal auditors by interviewing 28 chief audit executives of internal audit departments across Australia and find that internal auditors undertake numerous measures to demonstrate credibility and provide clarity on their intentions in an attempt to gain managements' respect and confidence. However, we also find that some of the measures auditors undertake in a defensive corporate culture support the notion of ‘trust begets trust’. Consequently, such measures may not only assist in establishing a relational contract with management but also highlight the potential risks to internal auditor independence.
This study examines the impact of an early‐stage conversation with a management's expert on auditors' decisions within the context of auditor–client relationships. We conducted a 2 × 2 ...between‐subjects experiment with 69 experienced auditors in Australia. Our results suggest that an early‐stage conversation can adversely affect perceived client flexibility towards proposed audit adjustments, particularly under contentious client conditions. Our results further indicate that an early‐stage conversation results in auditors relaxing, which otherwise might be a more contentious approach towards difficult clients. While we do not find direct evidence that auditors succumb to pressure and accept the work of the management's expert without any changes, our results suggest that auditors are willing to propose an adjustment that meets the interests of both auditor and client.
Professional scepticism forms an integral part of a professional accountant's skill set and is fundamental to their training. Recent revisions to IESs 2, 3, 4 and 8 reflect changes in the market ...expectation in relation to professional scepticism. In this paper, we answer calls for additional research into professional scepticism by investigating its role and training beyond audit. We also consider the important role that education can play in developing the trait professional scepticism. Through semi-structured interviews of academics, employers and the professional bodies, we find that professional scepticism is not considered a specific learning outcome nor is its development specifically evaluated. Despite being relevant across different accounting roles, educators do not consciously embed professional scepticism within accounting units other than auditing. We provide examples of how professional scepticism is addressed in the accounting curriculum and consider whether employers' expectations are being met.
► A comprehensive case study for an introductory auditing course. ► The case introduces students to the various steps involved in a real world type audit. ► The case allows students to apply auditing ...knowledge to a diamond producing company. ► The case develops students’ judgement, teamwork and analytical skills.
This case study is designed for undergraduate or postgraduate students in introductory auditing courses to critically apply their auditing knowledge and judgement as they work through the various stages of an audit process. The audit approach in the case study, which is consistent with international standards on auditing, is divided into four phases:
1.requires students to evaluate the client’s business and assess key business risks,2.enables students to set materiality levels and make a combined risk assessment of significant accounts likely to be materially misstated,3.allows students to respond to the combined risk assessment of the significant accounts identified by developing relevant substantive procedures,4.involves students undertaking the following wrap-up procedures:•evaluate the findings from the substantive procedures,•prepare a summary of audit differences, and•determine the impact of misstatements on the audit opinion.
The case is also designed to aid students in developing their research and communication skills while working in a team setting.
Study on Underwater Image Processing Techniques Prerana Agrawal; Dr. Pramod B. Bhalerao
International Journal of Advanced Research in Science, Communication and Technology,
4/2023
Journal Article
Odprti dostop
Image processing is extensively used to improve the quality of photos with scattering and poor contrast. Image processing is used in many fields of computer vision, including underwater image ...processing. It is necessary to process underwater photographs in order to improve the poor image quality caused by light scattering and refraction. As depth deepens, different colors are absorbed by the adjacent medium specific wavelengths. This research describes an effective approach for enhancing underwater photographs that have been deteriorated owing to medium absorption and scattering. Image processing has been used to develop certain approaches for improving the quality of underwater photographs. This study also discusses some of the algorithms for enhancing the quality and resolution of photographs. Using an edge detection robustness criterion performance of filtering will be evaluated and also the color correction.
