oa Meditari : Research Journal of the School of Accounting Sciences - Current practices for resource allocation in external audits of listed South African long-term insurers
|Article Title||Current practices for resource allocation in external audits of listed South African long-term insurers|
|© Publisher:||University of Pretoria|
|Journal||Meditari : Research Journal of the School of Accounting Sciences|
|Author||S.P.J. Von Wielligh|
|Publication Date||Jan 2008|
|Pages||139 - 152|
|Keyword(s)||Audit staff allocation, Audit staff development, Audit team, Audit team composition, Auditor experience, Auditor industry specialisation, Continuing professional development, Long-term insurance, Long-term insurer and Policy liabilities|
The purpose of this study was to determine current practices for two salient aspects of the audits of listed South African long-term insurers by empirically analysing prevailing practices. First, current practices for the composition of the audit teams responsible for these audits are determined. Thereafter current practice is determined for the proportion of audit time spent by the different specialists on audit teams on the audit of the high-risk components of policy liabilities and the related earnings. When allocating audit staff and establishing continuing professional development plans for staff the auditors of all listed and unlisted South African long-term insurers could use the findings of the study as benchmarks.
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