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Issue 5(1), October 2010 -- Paper Abstracts
Girard  (p. 9-22)
Cooper (p. 23-32)
Kunz-Osborne (p. 33-41)
Coulmas-Law (p.42-46)
Stasio (p. 47-56)
Albert-Valette-Florence (p.57-63)
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AMERICAN JOURNAL OF MANAGEMENT

Expert Judgments in an Audit’s Analytical Review


Author(s): Minwoo Lee, Harold T. Little Jr, Allen K. Hunt

Citation: Minwoo Lee, Harold T. Little Jr, Allen K. Hunt, (2017)"Expert Judgments in an Audit’s Analytical Review," American Journal of Management, Vol. 17, Iss. 5, pp. 44-59

Article Type: Research paper

Publisher: North American Business Press

Abstract:

This study used expert subjects in a multi-period experiment to investigate how different information conditions affected auditors’ judgments regarding an account misstatement in an audit’s analytical review process. The study found that the saliency level of prior probability of the misstatement negatively affected the probability judgment errors. The results also showed that in the situation where the prior probability was less salient, a longitudinal learning effect occurred. Despite errors in probability judgments, the subjects’ accuracy rates on specific state judgments were high. It was found that the saliency of prior probability positively affected the accuracy of the state judgments.