Pregledni rad
Towards a Framework for Achieving Clean Audit Outcomes in the South African Public Sector
KN Motubatse
; Department of Auditing, Tshwane University Of Technology South Africa
Collins C Ngwakwe
; Faculty of Management & Law, University of Limpopo South Africa
Mokoko P Sebola
; Faculty of Management & Law, University of Limpopo South Africa
Sažetak
Achievement of clean audit outcomes in every entity of the South African pu-blic sector would be something worth celebrating. However, very few public sector institutions have achieved clean audit outcomes, according to the audit evaluations and analyses published at the end of their financial reporting cycles. In addition, many public sector institutions are experiencing challenges in their leadership, financial management and governance functions. In response to this, South Africa’s Supreme Audit Institution, the Auditor General, South Africa (AGSA) put plans in place to help these public sector institutions to achieve clean audit outcomes. Since there is limi-ted published research in respect of public sector auditing, this paper addresses the sector’s ongoing failure to achieve clean audits by drawing on insights from the broa-der body of literature on leadership, financial management and governance, and from this to produce a generic framework within which clean audit outcomes can be achie-ved in the public sector. The method was based on a panel data regression analysis,
20KN Motubatse et. al.: TOWARDS A FRAMEWORK...Journal of Accounting and Management 2018, vol.: 08; no.: 01; page 19 - 36which provided results that were used in conjunction with the literature to draw the proposed framework. The proposed framework shows how the combination of posi-tive and effective leadership, financial management and governance could manifest as genuine accountability. This paper also finds that the audit committee aspect of governance has an important role to play in guiding the entity to achieve the desired clean audit outcome. This is achieved through maintaining the function’s independen-ce, demonstrating their financial literacy, experience, and commitment, and by their commitment to regular meetings. Based on these findings, the paper recommends a generic framework which could expedite the achievement of clean audit outcomes in the public sector institutions. In addition, the paper concludes that the effectiveness of the audit committee is key to the proposed framework’s ability to guide public sec-tor entities to achieve clean audit outcomes
Ključne riječi
clean audit outcomes; audit committee; framework; governance; leadership; public sector
Hrčak ID:
206046
URI
Datum izdavanja:
30.6.2018.
Posjeta: 940 *