@article{Amanzholova_Karakchieva_2019, title={Performance Audit in Construction Organisations: Relevant Criteria and Analytical Procedures}, volume={13}, url={https://cfjournal.hse.ru/article/view/10077}, DOI={10.17323/j.jcfr.2073-0438.13.2.2019.81-103}, abstractNote={<p>Performance audit is becoming increasingly ubiquitous in commercial and business spheres internationally. Due to its<br>important role in promoting efficient organisational and administrative practices, performance audit is becoming a<br>subject more rigorously analised in the academic sphere.<br>This study seeks to develop and test analytical tools of performance audit in Russian construction organisations. We<br>place emphasis on the industry-specific dimensions of information disclosure. We intend to offer a solution to several<br>crucial challenges in the field, which will allow for the development of a comprehensive method to implement analytical<br>procedures. This is done with a view towards obtaining and collating sufficient and adequate audit evidence to help<br>achieve business goals.<br>In order to devise a consistent methodology, first, a link is highlighted between construction industry constraints<br>and performance audit criteria. Second, an algorithm is developed to carry out comparative integrated estimation of<br>performance audit criteria in order to shortlist relevant indicators. Third, the algorithm is tested using financial reporting<br>of selected construction companies, which makes it possible to build a consistent system of performance audit criteria<br>and identify a reliable set of controlled parameters.<br>A profile of practical analytical procedures, performance audit criteria and measurement indicators is formed through<br>financial and performance audit and imbedded statistical methods. Implementing this approach will be seen to close<br>some information gaps commonly found in the reporting data of construction industry, as it links the subject area of<br>performance audit and the objective criteria of effectiveness, efficiency and economy.<br>The findings are presented with reference to existing statistical surveys on construction industry constraints. While<br>recent studies provide a broader picture across construction industry, they do not address its regional aspects. As<br>such, within this study we have carried out estimates of performance indicators for construction companies operating<br>in the Novosibirsk region. The estimates are based on the information available through Professional Market and<br>Company Analysis System. As a result, a system of performance audit criteria is identified in relation to the dimensions<br>of effectiveness, efficiency and economy and a framework of controlled parameters is shaped. The level of disclosure<br>concerning these parameters presented in a company’s reporting is supposed to determine the decisions of stakeholders<br>and potential investors.<br>In consideration of further research, this study highlights that it is necessary to identify and validate performance criteria<br>in view of the fact that only few construction companies are profitable. The mix of qualitative and quantitative analytical<br>procedures demonstrated herein is an effective approach to address the challenges of information integrity assessment.<br>We consider that the most promising aspect of this study is the analysis of how the quality and amount of information<br>disclosed in the reporting of construction companies affects their public image and business activities. This can be seen<br>to have widespread industry and academic applications. Additionally, our approach represents a suitable framework for<br>possible adaptation towards not only other industries, but also further development of the methodological approach<br>itself</p&gt;}, number={2}, journal={Journal of Corporate Finance Research / Корпоративные Финансы | ISSN: 2073-0438}, author={Amanzholova Bibigul and KarakchievaViktoria}, year={2019}, month={ноя.}, pages={81-103} }