Model-based auditing using REA

H. Weigand, P. Elsas

    Research output: Contribution to journalArticleScientificpeer-review

    28 Citations (Scopus)


    The recent financial crisis has renewed interest in the value of the owner-ordered auditing tradition that starts from society's long-term interest rather than management interest. This tradition uses a model-based auditing approach in which control requirements are derived in a principled way. A problem with this approach is that it has been proven hard to apply it in modern complex organizations. Making it feasible requires at least an adequate enterprise modeling approach. In this paper, it is shown that the REA ontology fulfills most of the requirements for such a model-based approach. The analysis also suggests some directions in which REA can be extended.
    Original languageEnglish
    Pages (from-to)287-310
    JournalInternational Journal of Accounting Information Systems
    Issue number3
    Publication statusPublished - 2012


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