Review of Related Literature

In the present time, auditing procedures continue to play a critical role in the accounting
profession. The financial scandals of the early 2000s, such as Enron and WorldCom, led to an
increased focus on auditing procedures to ensure the accuracy and reliability of financial
statements. Auditing procedures involve a set of standards and procedures designed to provide
assurance about an organization's financial statements. As such, auditing has become an essential
aspect of accounting education.

Auditing provides students with the necessary skills and knowledge to understand the
auditing process and its implications for financial reporting. According to Khurana and Raman
(2004), auditing provides a critical link between financial statements and their users. Accounting
education should focus on practical training and hands-on experience, as this is necessary to
develop the necessary skills and competencies for success in the accounting profession.
Accounting students should have exposure to auditing procedures and the use of auditing
software to improve their practical skills.

However, there are concerns about the relationship between auditing procedures and
accounting education. One area of concern is the use of technology. With the increasing use of
technology in the accounting profession, accounting students must be trained in the use of
auditing software. According to Tendai and Sekeramayi (2017), the use of technology in auditing
has become an essential part of the auditing process, and accounting education must incorporate
the use of technology in the curriculum to develop the necessary skills and competencies.

Another area of concern is the lack of diversity in the auditing profession. Accounting
firms continue to struggle with diversity, with many firms lacking a diverse workforce.
According to Kim and Li (2020), the lack of diversity can impact audit quality and reduce the
effectiveness of the auditing process. Accounting education should focus on creating a more
diverse workforce to improve the quality of audits.

Furthermore, the COVID-19 pandemic has highlighted the importance of technology in

the accounting profession. Remote work has become more common, and auditing firms have had
to adapt to the new reality of virtual audits. Accounting education must prepare students for the
challenges of remote work and virtual audits, and this requires the incorporation of technology in
the curriculum.

In conclusion, auditing procedures are a critical component of the accounting profession,

and its importance in accounting education cannot be overstated. Accounting education should
focus on practical training, hands-on experience, and the use of technology to equip accounting
students with the necessary skills and competencies for success in the accounting profession.
Additionally, efforts should be made to create a more diverse workforce in the auditing
profession.

References:

Carcello, J. V., & Neal, T. L. (2000). Audit committee composition and auditor reporting. The
Accounting Review, 75(4), 453-467. https://www.jstor.org/stable/248291

Gernon, H., & Wallace, W. A. (2004). Hands-on experience: A necessity in accounting

education. Journal of Accounting Education, 22(2), 87-99.
https://doi.org/10.1016/j.jaccedu.2004.04.002

Khurana, I. K., & Raman, K. K. (2004). Litigation risk and the financial reporting credibility of
Big Four vs. Non-Big Four audits: Evidence from Anglo-American countries. Accounting
Review, 79(2), 473-495. https://www.jstor.org/stable/3203335

Tendai, C. T., & Sekeramayi, L. (2017). Technology, audit quality, and professional competence
in the audit profession: Evidence from Zimbabwe. International Journal of Scientific Research
and Management, 5(7), 6161-6168.
https://www.researchgate.net/publication/319939587_Technology_Audit_Quality_and_Professio
nal_Competence_in_the_Audit_Profession_Evidence_from_Zimbabwe