THE USE OF GENERALISED AUDIT SOFTWARE BY INTERNAL AUDIT FUNCTIONS IN A DEVELOPING COUNTRY: A MATURITY LEVEL ASSESSMENT

Download This Article

Daniel P. Van Der Nest ORCID logo, Louis Smidt ORCID logo, Dave Lubbe

https://doi.org/10.22495/rgc7i4c2art2

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Abstract

This article explores the existing practices of internal audit functions in the locally controlled South African banking industry regarding the use of Generalised Audit Software (GAS), against a benchmark developed from recognised data analytic maturity models, in order to assess the current maturity levels of the locally controlled South African banks in the use of this software for tests of controls. The literature review indicates that the use of GAS by internal audit functions is still at a relatively low level of maturity, despite the accelerating adoption of information technology and generation of big data within organisations. The empirical results of this article also confirm that the maturity of the use of GAS by the internal auditors employed by locally controlled South African banks is still lower than expected, given that the world, especially from a business perspective is now fully immersed in a technological-driven business environment. This study has since been extended to other industries in the following countries namely, Canada, Columbia, Portugal and Australia.

Keywords: Audit Evidence, Big Data, Computer Assisted Audit Techniques, Control Environment, Generalised Audit Software, Tests of Controls

Received: 29.03.2017

Accepted: 31.07.2017

How to cite this paper: van der Nest, D.P., Smidt, L., & Lubbe, D. (2017). The use of generalised audit software by internal audit functions in a developing country: A maturity level assessment. Risk Governance and Control: Financial Markets & Institutions, 7(4-2), 189-202. https://doi.org/10.22495/rgc7i4c2art2