Independent Auditors&rsquo; Perception on Junior Staff: Knowledge Deficiency on Technical and Soft Skills in Audit Practice

Raian Mikhael  R. Magtaan,; Krishna Joie  M. Maliwat,; Glen  D. De Leon,

Independent Auditors’ Perception on Junior Staff: Knowledge Deficiency on Technical and Soft Skills in Audit Practice

Raian Mikhael R Magtaan | Krishna Joie M Maliwat | Glen D De Leon

Abstract:

For many years, there has been a debate between what to focus on the accounting profession: proficiency in technical skills or fluency in soft skills. The researchers decided to conduct a study regarding these two, and after inquiring with people who were in the different fields of Accountancy, the researchers came up with the idea that there was knowledge deficiency in technical and soft skills. The researchers then gathered data through interviews, and could know that there was indeed a knowledge deficiency in these skills. Experts specifically stated that basic knowledge of standards is very vital to junior staff. About the soft skills, basic communication skills and interpersonal skills are important. Junior staff must communicate about the data to people concerned. In this study, the researchers concluded that there was, indeed, a deficiency as per with the respondents.

References:

Accounting Institute of Certified Public Accountants (2014). Resources: Core Competency Framework & Educational Competency Assessment
Ayebaofo, B. (2012). The role of Accounting Educators in Bridging the Gap between Accounting Theory and Accounting Practice. Retrieved from http://pakacademicsearch.com
Blanthorne, C., Bhamornsiri, S. & Guinn, R. E., 2005. Are Technical Skills Still Important? CPA Journal, 75(3), pp. 64-65.
Bandarlipe, M.R. II, Castillo, C., Navarro, C., Nemenzo Jr. C. and Sabiniano, A. (2005). The Development of Analytical, Communication and Research Skills in Accounting Education: Perceptions of the De la Salle University Accountancy Student s and Faculty Members. Retrieved from http://www.academia.edu/2323095
Cabrera, E. (2014). Public Accountancy profession. Manila: Conanan Education Supply.
CHED. (n.d.). Revised policies and standards for Bachelor of Science in Accountancy (BSA) as amended: CHED Memorandum Order. PH: The Author.
Cory, N. and Pruske, K. (2012). Necessary skills for accounting graduates: An exploratory study to determine what the profession wants.
Drennan, L. and Kavanagh, M. (2008). What skills and attributes does an accounting graduate need? Evidence from student perceptions and employer expectations. Retrieved from http://papers.ssrn.com/sol3/papers.cfm
Elrod, D. (2013). The crisis of competency in Accounting and Finance. Retrieved from http://businessfinancemag.com/hr/crisis-competency-accounting-and-finance
Freedman, J. (2015). Technical accounting skills. Retrieved from http://work.chron.com/technical-accounting-skills
Fowler, E. M. (1989). Careers: Building a better accountant. New York Times, 23.
Karthikeyan, R., & Baskaran, G. (2011). Soft skills: What do the employers expect from their employees? Language in India, 11 (6), 1-7.
Laker, D. R. & Powell, J. L. (2011). The differences between hard and soft skills and their relative impact on training transfer. Human Resource Development Quarterly, 22 (1), 111- 222.
Lightweis, S. (2014). Bridging the gap between accounting students and the profession: A Case Study.
Morgan, D.A. and Sneed, J. (1999). Evaluating verbal, qualitative and problem solving skills of students: Entering the accounting curriculum. Management Research News,22 (4), 22-28.
Morgan, D., Sneed, J., & Swinney, L. (1999). Faculty perceptions of the quality of accounting students. Journal of Accounting and Finance Research, 6 (2), 81-85.
Pearson, M. A. (1995) Better prepared accounting graduates. The Practicing CPA, (19), 6-8.
Revised Policies and Standards for Bachelor of Science in Accountancy (BSA), as amended. CHED Memorandum Order. (n.d.). Philippines: Commission on Higher Education
Subotnik, D., 1987. What accounting can learn from legal education. Issues in Accounting Education, 2 (2), 313-325.
Top auditing firms in the Philippines. (2015). Retrieved from https://top3philippines.wordpress.com/top-accounting-auditing-firms-in-thephilippines
UNIDO. (n.d.). Competency strengthening organizational core values and in managerial capabilities. Retrieved from http://www.unido.org/fileadmin/import/userfiles/timminsk/unidocompetencymodel
Walters, R. (2014). Accountants value technical skills more than other professionals. Retrieved from https://www.robertwalters-usa.com/career-advice/accountantsvalue-technical-skills-more-than-any-other-professionals
Wyse, S. (2011) What is the difference between qualitative research and quantitative research? Retrieved from http://www.snapsurveys.com/blog/what-is-thedifference-between-qualitative-research-and-quantitative-research/