Author: Rusudan Sreseli, PhD in Business Administration, Ivane Javakhisvhili Tbilisi State University I ntroduction Preparing a Doctoral ...
Author: Rusudan Sreseli, PhD in Business Administration, Ivane Javakhisvhili Tbilisi State University
Introduction
Preparing a Doctoral thesis is a challenging experience, one that requires patience, dedication, and an understanding of the subject matter. When I started working on a selection of topics that I am passionate about,I understood that internal audit was the area I wanted to brainstorm. I knew it would involve several stages, each with its own set of challenges and learning opportunities.
Narrowing down the interests to internal audit research questions that are feasible and contribute meaningfully to the field, I understood the"Objectivity and Independence of Internal Audit," was an important part of my research..After recognizing the importance of the topic, I decided to prepare an article for publication. Here’s a behind-the-scenes look at the process I went through, from initial research to final acceptance.
The purpose of this study was to investigate the significance of objectivity and independence when conducting an internal audit. After I had solid information through research, I moved to drafting the manuscript. Writing a readable and interesting article on a theoretic subject of internal audit was quite challenging and exhilarating.
The study, "Objectivity and Independence of Internal Audit," made clear how crucial objectivity and independence are to internal auditing. It looks at how keeping independence—unaffected by outside forces—and objectivity—free from prejudice—guarantees that audits are reliable and useful. Auditors guarantee the accuracy and dependability of the audit. The auditing standards established by the Institute of Internal Auditors (IIA) are always adhered to by professional auditors. An organization can conquer risk management and other activities with the aid of internal audit.
This paper has explored several steps for audit. To prevent conflicts of interest, this guarantees that the internal auditor is impartial during the auditing process. A process that is required for the company's efficiency assessment is internal auditing.
The audit process must be planned with the ideas of independence and objectivity in mind. The auditors need to have all the relevant data to produce an impartial audit report. The auditor's objectivity and independence are critical components to take into account when evaluating any type of risk. They also need to be impartial, with results that are lucid and grounded in facts rather than conjecture. The company's financial statements will be less likely to include substantial misstatements thanks to this audit planning approach.
As part of the risk assessment process, it is determined whether suitable strategies and controls are in place to manage the risks that have been identified, as well as whether they are accurate and thorough.
For internal audit teams to complete their tasks efficiently and on time, they need to be equipped with the right tools, expertise, and information. Internal auditors have to maintain their independence and objectivity to guarantee that all parties participating in the performance review process are handled equally and impartially. Ensuring stakeholders that the business is carrying out its responsibilities morally and professionally is one of the goals of an internal audit. For internal auditors to offer a fair assessment of the financial accounts, they must be independent. It
The relationship between objectivity and independence in the context of internal auditing is discussed here, along with how these two ideas might cooperate to guarantee an efficient risk management system.
The research shows that internal auditors are better able to evaluate risks, spot control gaps, and offer trustworthy, unbiased suggestions for enhancing governance and control procedures when they retain objectivity.
The study reveals strategies for maintaining these values in the face of diverse obstacles and provides insight into how technology is developing to improve audit integrity. Companies must prioritize and foster a culture that values objectivity and independence in internal audit. This can be achieved through the establishment of clear policies, appropriate training, and the provision of necessary resources to support the internal audit function. Additionally, regular monitoring and evaluation processes should be implemented to assess the effectiveness of internal audit activities and address any potential threats to objectivity and independence. Furthermore, internal auditors should adhere to a code of ethics that outlines the standards of conduct expected from them. This code typically includes principles such as integrity, objectivity, confidentiality, and professional competence. Compliance with the code of ethics helps ensure that auditors maintain their independence and objectivity in practice.
The article is available for those interested in reading the entire exploration
https://journalofbusiness.org/index.php/GJMBR/article/view/102841/5-Objectivity-and-Independence_JATS_NLM_xml
· The Time Investment:
This topic was researched during work of my doctoral thesis. Over several months, countless hours have been spent deconstructing and interpreting the fundamental ideas of objectivity and independence. To guarantee that the results were thorough and perceptive, commitment was needed at every stage of the process—research, writing, and revision.
· Source of inspiration:
This investigation was motivated by the realization of how important internal audits are to company governance. Several experiences and views of audit procedures made it clear that unshakable objectivity and independence were required. This realization prompted a thorough investigation into the ways internal auditors can continue to play a crucial role while maintaining objectivity and effectiveness.
· Personal Insights and Future Directions:
The study shed light on opportunities and problems in the internal auditing field. The article is noteworthy for highlighting the ways in which the audit process can be compromised by concerns including conflicts of interest and managerial pressure. The research proposes the following strategies to counter these threats: putting strong policies in place, encouraging transparency, and taking advantage of technology improvements. Subsequent studies may explore how developing technologies and changing business procedures impact internal auditing dynamics.
· Publishing Experience:
Choosing the right journal for submission was a critical decision. I wanted to ensure that my article would reach an audience that would appreciate its content and contribute meaningfully to the field. After researching various journals and their scopes, I selected one that aligned closely with my topic and had a reputation for publishing high-quality, peer-reviewed articles in the field of global research.
This step required a careful analysis of the journal’s submission guidelines, past publications, and impact factors. Each journal has its own set of criteria and expectations, so tailoring my manuscript to fit these was essential.
One important step was to go through revisions from the journal editorial board, which was a meaningful experience for future publication.
Looking back, the journey to publish "Objectivity and Independence of Internal Audit" was filled with challenges and successes. The process gave me valuable experience, I understand the importance of patience, thoroughness, and the ability to accept and act on constructive criticism.
For starter researchers like me, I strongly advise obtaining as much information as they can, analyzing, consult with qualified colleagues, but to follow their instinct and heart to complete their work and to stay committed to their topic, remain open to feedback, and view every challenge as an opportunity for growth. The road to publication may be long and arduous, but the result—a contribution to the field that can influence practice and future research—is gratifying.
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