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Similarities and differences between action research and audit - Essay Example

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Summary
Action research and audit are the two sides of the same coin.They are demanding disciplines requiring skilled personnel with aptitude and abilities for gathering of data.Their skills and expertise are honed through practice, training and perseverance …
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Similarities and differences between action research and audit
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Download file to see previous pages Concerning functions and applications, they have their distinct objectives, techniques and responsibilities.An interesting fact concerning these two disciplines is that action research of audit improves auditing, and auditing of action research helps to remove the dross and improve the quality of the research. (CAFWAA).From immemorial times monarchs and other rulers have rewarded groups and individuals for research and development purposes. The wise rulers and elders possessed the gracious disposition which caused them to provide rewards and incentives to encourage discoveries, inventions, and improvements for the betterment of human life and society.Men and women convinced in the belief that there were better ways of doing things immersed themselves in understanding systems and theories, and harnessed nature and elements to refine methods and structures. They zealously pursued their goals, at times against heavy odds, bequeathing their posterity a rich legacy of healthier and happier living conditions. (Action Research).Action Research is based on clear vision, mission and guiding principles seeking to reveal the truth about any subject, thesis or situation. It also undertakes tasks of finding ways and means on improving existing systems and methodologies. It does so by meticulously going through existing systems and technologies, scrutinizing their efficacy, relevance and alternatives, and conducting experiments with new hypotheses and integrations. (What is Action Research)
Audit
Audit is the statutory study, scrutiny and verification of financial statements and management systems maintained by institutions, corporations and individuals. It provides the status and track record of the entity as required by law for general information or specific purposes like diversifications and investment strategies. Audit is done internally and by external professionals. (Audit, Credit Suisse).
Audit helps to shape and reshape policies and procedures and improve efficiency and output. It refurbishes the entire organization to provide better quality and services. (Acacia Research Corporation).
Auditing is highly responsible and demanding task. It is also time consuming and meticulous. It is a teamwork pursuance endowed with highly skilled technical expertise and adept at critical evaluations of diverse disciplines. It follows the highest order of professional and statutory standards and ethics. (Audit).
Similarities between Action Research and Audit
One ostentatious similarity between action research and audit is that both rely on data and facts to serve their aims and objectives. They base their conclusions on fundamental principles and sound judgment. They source their data and methodologies from well-established, credible sources only. Their similarities also match in the highly professional and all-pervasive approach to their area of activities.
Action research is based on examination and improvement wherever possible of relevant, well-documented data and facts. Audit is based on the examination of financial statements made up of facts and figures, and their certification and approval along with suggestions for improvements and rectifications. Both action research and auditing is done by experienced, well-qualified, and highly skilled professionals. (Catherine Wylie).
Differences between Action Research and Audit
Action research is an age old phenomena which has existed for a very long time. Audit is comparatively new and came ...Download file to see next pagesRead More
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