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| Author: | Lloyd, P. Goldschmidt, P. |
| Title: | Modelling Audit Risk Assessments: Exploration of an Alternative to the Use of Knowledge-based Systems |
| Journal: | International Journal of Auditing
2003 : MAR, VOL. 7:1, p. 21-36 |
| Index terms: | RISK DECISION MODELS AIDS KNOWLEDGE-BASED SYSTEMS AUDITING MODELS |
| Language: | eng |
| Abstract: | This paper compares decision-modelling approaches. The decision modelled is the assessment of inherent and control risk in the purchases, accounts payable and inventory cycle. It is modelled using two approaches. Firstly, knowledge-based models are constructed using established development shells. Secondly, a model is constructed using a conventional procedural programming language. Both modelling approaches are tested against the output of human practitioners and compared to each other to determine if the more restrictive, assumption-laden approach offered by the procedural model is adequate to deal with the decision problem under examination, or if the greater flexibility offered by the knowledge-based approach is required. |
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