This is a research paper about the Major challenges of auditing for a multinational organization I finished the proposal and the SPSS analysis in need of the main part which is the research paper. it must be a masters level and Harvard research paper format
This is a research paper about the Major challenges of auditing for a multinational organization I finished the proposal and the SPSS analysis in need of the main part which is the research paper. it must be a masters level and Harvard research paper format
word count must be between 8000-8500 without the proposal and SPSS because they are done and just needs Marj with the research paper.
Turnitin report needed less than 5%must include charts and Arts and Humanities, and STEM wich is involve designing, recording and analyzing experiments, using their data to prove or disprove a set theory
Requirements: Lengthy
MULTINATIONAL ORGANIZATION
ST10261
RP1
Research project proposal
The Title of the Research
Major challenges of auditing for multinational organization
Introduction or background to the research problem or issue
Multinational organizations operate in multiple countries and have a global presence, but they face various challenges, including cultural differences, language barriers, and regulatory compliance (Schmitz and Leoni, 2019). One major challenge is conducting an audit, which formally examines an organization’s financial statements and records to ensure accuracy and compliance with relevant regulations. However, auditing a multinational organization can be complex and challenging due to its operations’ diversity and financial structure, which may include many subsidiaries and affiliates with their own economic systems and reporting requirements (Zheng et al., 2019). Additionally, multinational organizations must comply with various regulatory frameworks and standards across the countries in which they operate, making it difficult for auditors to ensure that the organization’s financial statements comply with all relevant regulations (Villena and Gioia, 2018).
Justification for the proposed research
Multinational organizations play a vital role in the global economy, and their financial reporting is of significant interest to stakeholders such as investors, creditors, and regulators. However, the audit process for multinational organizations can be complex and challenging, as it involves dealing with multiple languages, cultures, and legal systems. Therefore, research on international organizations’ challenges during the audit process is necessary to identify strategies for overcoming them and streamline the process, ultimately contributing to the quality of their financial reporting.
There needs to be more research on the specific challenges multinational organizations face during the audit process and how to address these challenges effectively. Conducting research in this area will provide valuable insights and practical recommendations for auditors, practitioners, and regulators working with multinational organizations. It will also help to identify areas for improvement in the audit process and contribute to the overall quality of financial reporting by international organizations.
Objectives
The aim of this research is to assess the challenges of auditing for multinational companies. The following are the objectives:
To identify and analyze the significant encounters multinational organizations face during the audit process.
To examine the strategies and best practices that multinational organizations use to overcome these challenges and improve the efficiency and reliability of their audits.
To provide recommendations for improving the audit process for multinational organizations.
1.4 Research Questions
What are the significant challenges faced by multinational organizations during the audit process?
How do these challenges impact the efficiency and reliability of the audit process for multinational organizations?
What strategies and best practices are used by multinational organizations to overcome these challenges and improve the efficiency and reliability of their audits?
What recommendations can be made for improving the audit process for multinational organizations based on the research findings?
Hypothesis
Hypothesis 1: Multinational organizations face various challenges during the audit process, including cultural differences, language barriers, and regulatory compliance issues.
Research Structure
This research contains five chapters. Chapter one is an introduction including research objectives, research questions, and research hypotheses. Chapter two is literature review. Chapter three is methodologies including research designs, data collection methods, sampling methods, statistical analysis approach. Chapter four is data analysis and discussion. Chapter five is conclusion including main findings and recommendations.
Literature Review
A review by Sunderland and Trompeter (2017) found that multinational organizations often need help managing their relationships with local regulators and authorities during audits. This can lead to an increased risk of non-compliance and regulatory issues.
Another study by LeBaron et al. (2017) analyzed the strategies and best practices used by multinational organizations to overcome these challenges. The study found that standardizing financial systems and processes and implementing robust internal controls and training programs can help improve the audit process’s efficiency and reliability.
A study by Faccia et al. (2019) explored the role of technology in overcoming the challenges faced by multinational organizations during the audit process. The study found that digital tools and platforms can help streamline the audit process and reduce the burden on international organizations.
A literature review by Boiral et al. (2019) found that multinational organizations often face challenges in managing their relationships with local partners and suppliers during audits. This can lead to difficulties in obtaining accurate and reliable financial data.
A study by Vovchenko et al. (2017) identified language barriers as a significant challenge faced by multinational organizations during audits. This can make it difficult for auditors to effectively communicate with local staff and understand the organization’s financial position and operations.
A study by Downey and Bedard (2019) investigated the impact of culture on the audit process for multinational organizations. The study found that cultural differences can significantly impact the efficiency and reliability of the audit process, with international organizations facing challenges related to communication, collaboration, and trust.
A study by Zheng et al. (2019) examined the role of internal controls in the audit process for multinational organizations. The study found that implementing robust internal controls can help improve the audit process’s efficiency and reliability, particularly in the face of challenges related to cultural differences and regulatory compliance.
A study by Gotthardt et al. (2020) explored the impact of language barriers on the audit process for multinational organizations. The study found that language barriers can significantly impact the efficiency and reliability of the audit process, with multinational organizations facing challenges related to communication and understanding.
A literature review by Briem and Wald (2018) found that multinational organizations often face challenges in managing their relationships with local partners and suppliers during audits. This can lead to difficulties in obtaining accurate and reliable financial data.
A study by Gao and Zhang (2017) examined the impact of regulatory compliance on the audit process for multinational organizations. The study found that regulatory compliance can significantly challenge multinational organizations. The need to comply with various regulatory frameworks and standards leads to increased costs and resources required to complete the audit.
A study by Kotsanopoulos and Arvanitoyannis (2017) found that multinational organizations often face challenges in managing their tax compliance during audits. This can lead to an increased risk of non-compliance and regulatory issues.
A study by Jurakulovna and Bahodirovich (2021) found that multinational organizations often face challenges in managing their risk profiles across different countries and regions.
One major challenge faced by multinational organizations based on audits is cultural differences. This can lead to misunderstandings, difficulties in communication, and differing values and expectations (Schmitz and Leoni, 2019).
Another challenge is managing and coordinating research and development activities across different locations, which can lead to inefficiencies and difficulties in collaborating and sharing knowledge (Villena and Gioia, 2018).
Multinational organizations may also face difficulties in managing and addressing environmental and social issues in different countries and addressing the needs and expectations of various stakeholder groups (Munoko et al., 2020).
Methodology
Research Design
This study will use a mixed-methods strategy to gather and analyze both quantitative and qualitative data. The research will begin with a comprehensive review of the existing literature on the challenges multinational organizations face during the audit process. This will be followed by a series of case studies in which multinational organizations will be interviewed and surveyed about their experiences with the audit process and strategies to overcome the challenges they face. The findings from these case studies will be analyzed and synthesized to comprehensively understand the challenges multinational organizations face during the audit process and the strategies used to overcome these challenges.
3.2 Data collection methods
Both primary and secondary data collection techniques will be used for this study. Structured interviews with auditors and employees of multinational firms will be used to gather preliminary data and surveys given to a representative sample of international organizations. Secondary data will be collected by reviewing relevant literature, including academic articles and industry reports, and analyzing financial statements and other publicly available data. Both qualitative and quantitative data will be collected and analyzed to comprehensively understand the challenges multinational organizations face during the audit process and the strategies and best practices used to overcome these challenges.
3.3 Sampling frame
For this research, stratified sampling will be utilized to ensure that the sample is representative of the population of multinational organizations. The sampling frame will include a list of multinational organizations in various industries and countries. Stratified sampling will ensure that the sample includes a diverse range of organizations in the industry, size, and geographic location. The sample size will be determined based on the research objectives and the resources available for the study. A minimum sample size of 50 multinational organizations is planned, but this may be adjusted based on the data collection and analysis results. Power analysis will calculate the final sample size to ensure the study has enough statistical power to identify significant differences between the compared groups.
3.4 Data analysis techniques
Qualitative and quantitative data analysis methods will be used for this study. Content analysis will be used to find themes and patterns in qualitative data, such as interview transcripts and open-ended survey responses. Statistical methods like descriptive and inferential statistics will be used to assess quantitative data, including survey responses and financial data. Means and standard deviations are examples of descriptive statistics that will summarize the data and reveal patterns and trends. To test hypotheses and assess the data’s statistical significance, inferential statistics like t-tests and ANOVA will be utilized. The data analysis will be conducted using appropriate software, such as SPSS or R, to ensure accuracy and efficiency.
3.5 Code of Ethics
In this research, the code of ethics outlined by the American Psychological Association (APA) will be followed. This includes ensuring the confidentiality and anonymity of the participants, obtaining informed consent from all participants, and ensuring that the research is conducted in a manner that is respectful and non-harmful to the participants. In addition, all research procedures will be reviewed and approved by an institutional review board to ensure that they comply with ethical standards. Any deviations from the approved research plan will be reported to the institutional review board. The researchers will also ensure that all data is collected, analyzed, and reported transparently and objectively. The researchers will take steps to minimize potential biases or conflicts of interest during the research process.
3.6 Limitations
There are several limitations to this research that should be considered. One limitation is the sample size, which may represent only some of the population of multinational organizations. In addition, the sample may be self-selected, which could introduce bias to the results. Another limitation is the reliance on self-reported data, which may be subject to inaccuracies or biases. Additionally, the research is limited to the perspectives and experiences of the participants. It may not capture the full range of challenges and strategies multinational organizations use during the audit process. Finally, the research is limited to the current state of the audit process for multinational organizations and may not consider future developments or changes in the field.
References
Boiral, O., Heras-Saizarbitoria, I. and Brotherton, M.C., 2019. Assessing and improving the quality of sustainability reports: The auditors’ perspective. Journal of Business Ethics, 155(3), pp.703-721.
Briem, C.R. and Wald, A., 2018. Implementing third-party assurance in integrated reporting: Companies’ motivation and auditors’ role. Accounting, Auditing & Accountability Journal.
Downey, D.H. and Bedard, J.C., 2019. Coordination and communication challenges in global group audits. Auditing: A Journal of Practice & Theory, 38(1), pp.123-147.
Faccia, A., Al Naqbi, M.Y.K. and Lootah, S.A., 2019, August. Integrated cloud financial accounting cycle: how artificial intelligence, Blockchain, and XBRL will change the accounting, fiscal and auditing practices. In Proceedings of the 2019 3rd International Conference on Cloud and Big Data Computing (pp. 31-37).
Gao, S.S. and Zhang, J.J., 2017. A comparative study of stakeholder engagement approaches in social auditing. In Perspectives on corporate citizenship (pp. 239-255). Routledge.
Gotthardt, M., Koivulaakso, D., Paksoy, O., Saramo, C., Martikainen, M. and Lehner, O., 2020. Current state and challenges in the implementation of smart robotic process automation in accounting and auditing. ACRN Journal of Finance and Risk Perspectives.
Jurakulovna, J.G. and Bahodirovich, R.U., 2021. Improving the Theoretical Framework of Internal Audit in the Corporate Governance System. Middle European Scientific Bulletin, 19, pp.345-348.
Kotsanopoulos, K.V. and Arvanitoyannis, I.S., 2017. The role of auditing, food safety, and food quality standards in the food industry: A review. Comprehensive Reviews in Food Science and Food Safety, 16(5), pp.760-775.
LeBaron, G., Lister, J. and Dauvergne, P., 2017. Governing global supply chain sustainability through the ethical audit regime. Globalizations, 14(6), pp.958-975.
Munoko, I., Brown-Liburd, H.L. and Vasarhelyi, M., 2020. The ethical implications of using artificial intelligence in auditing. Journal of Business Ethics, 167(2), pp.209-234.
Schmitz, J. and Leoni, G., 2019. Accounting and auditing at the time of blockchain technology: a research agenda. Australian Accounting Review, 29(2), pp.331-342.
Sunderland, D. and Trompeter, G.M., 2017. Multinational group audits: Problems faced in practice and opportunities for research. Auditing: A Journal of Practice & Theory, 36(3), pp.159-183.
Villena, V.H. and Gioia, D.A., 2018. On the riskiness of lower-tier suppliers: Managing sustainability in supply networks. Journal of Operations Management, 64, pp.65-87.
Vovchenko, N.G., Holina, M.G., Orobinskiy, A.S. and Sichev, R., 2017. Ensuring financial stability of companies on the basis of international experience in construction of risks maps, internal control and audit.
Zheng, R., Jiang, J., Hao, X., Ren, W., Xiong, F. and Ren, Y., 2019. bcBIM: A blockchain-based big data model for BIM modification audit and provenance in mobile cloud. Mathematical Problems in Engineering, 2019.
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
