Here is the rewritten article in markdown format:
Qualitative Research Methodology: Analyzing External Auditors’ Perceptions on Fraud Risk Assessment
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This study explores the perceptions and practices of external auditors regarding fraud risk assessment in auditing. The research employed thematic analysis to examine qualitative data collected through semi-structured interviews with 24 experienced external auditors.
Methodology
The researcher used a thematic analysis approach to identify, analyze, and report patterns or themes within the qualitative data. This method allowed for a detailed examination of the data and provided insights into the external auditors’ perceptions on fraud risk assessment.
Data Collection
A total of 24 external auditors with experience in fraud risk assessment participated in semi-structured interviews. The data was coded using NVivo, a qualitative data analysis software, to ensure accuracy and reliability. An independent researcher reviewed the coding process to ensure consistency and reliability.
Coding Scheme
The researcher developed a codebook (Table 2) that categorized the data into two main themes:
Theme 1: External Auditors’ Perceptions of Fraud Factors
- Essential or Critical Factors
- Important but Non-Essential Factors
- Least Important or Unimportant Factor
Theme 2: Use of Fraud Factors in Audit Practice
Findings
The majority of external auditors perceived top management’s motives and integrity as essential or critical factors in assessing fraud risk. Opportunity and capabilities were seen as important but non-essential factors, while rationalization was considered the least important fraud factor.
Implications
This research highlights the significance of understanding top management’s motivations and integrity level when assessing fraud risk. The findings suggest that external auditors may face challenges in detecting fraud and bias without this knowledge. This study provides valuable insights for auditing professionals to improve their approaches to fraud risk assessment and detection.