Internal Auditors Skepticism in Detecting Fraud

Internal Auditors Skepticism in Detecting Fraud

A quantitative online research survey was conducted to internal auditors that are members of social media. The significance of the research is to contribute to the theory that the lack of professional skepticism is the contributing factor to malpractice litigations against the auditors. To analyze the data collected for hypothesis 1, skeptical responses of the participants were divided into significance mean of >4.85 as high skeptical and ≤4.85 as low skeptical. Subsequently, the responses were analyzed by comparing the mean of the constructs of fraud indicator symptoms scale with the statistical analysis of One- way ANOVA, Homogeneity of variances. The finding was to retain the null hypotheses because the significance levels of all of the constructs for hypothesis 1 were over the probability rate of 0.05. As a result, the high level of professional skepticism of the internal auditors was unable to influence their professional judgment in detecting fraud during fraud risk assessments. Hypothesis 2 was tested by comparing the mean of years of experience with Hurtt Professional Skepticism Scale constructs to determine that high level of professional skepticism is attained through years of experience. The finding was to retain the null hypothesis because the significance level was over the alpha level of 0.05. Therefore, years of experience of the internal auditors do not achieve high level of professional skepticism. Two test instruments were used in this research; these are Hurtt professional skepticism scale (HPSS: Hurtt, 2010) and Fraud Indicator Symptoms Scale (FIS: Fullerton & Durtschi, 2004). These test instruments were measured on a 6-point Likert scale. Cronbach's alpha 0.90 was used to test the internal reliability of the test instruments. Data collected were analyzed with IBM SPSS Statistical version 21 software on One-Way ANOVA statistical model.

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