Essentially, this study asks: Does the business risk audit (BRA) approach increase audit production efficiency? To answer this question empirically, direct and indirect tests are employed using proprietary, working paper data from the larger clients of a major Australian public sector audit provider and an efficiency frontier analytic methodology, data envelopment analysis (DEA). Results based on this proprietary, audit hours data for audit engagements carried out just after BRA approach implementation show that they have high levels of production efficiency and are risk‐adjusted, with no significant difference in production efficiency between higher and lower business risk audit engagements. Results based on audit fees data for audit engagements carried out shortly before and after BRA approach implementation show that overall production efficiency significantly improves. Importantly, while this improvement is significant for lower‐risk audit engagements, there is no significant improvement for higher‐risk audit engagements. In the context of this study's research site, this is consistent with the BRA approach addressing inefficiencies created when lower‐risk audit engagements are being over‐audited. That is, the BRA approach can result in both risk‐adjusted and more efficiently produced audits. With the re‐emergence of the BRA approach in the literature and in practice, this study provides empirical evidence to support the claim that this audit approach can lead to 'creating auditing efficiencies' (Bell et al., 1997, p. 1). [ABSTRACT FROM AUTHOR]

中文翻译：

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商业风险审计方法和审计生产效率

从本质上讲，本研究询问：商业风险审计 (BRA) 方法是否会提高审计生产效率？为了凭经验回答这个问题，使用来自澳大利亚主要公共部门审计提供商的大客户的专有工作文件数据和效率前沿分析方法数据包络分析 (DEA) 进行了直接和间接测试。基于此专有的审计时间数据，在 BRA 方法实施之后进行的审计业务的结果表明，它们具有高水平的生产效率并且经过风险调整，较高和较低业务风险审计业务之间的生产效率没有显着差异。根据 BRA 方法实施前后不久进行的审计业务的审计费用数据得出的结果表明，整体生产效率显着提高。重要的是，虽然这种改进对低风险审计业务很重要，但对高风险审计业务没有显着改进。在本研究的研究站点的背景下，这与解决低风险审计业务被过度审计时造成的低效率问题的 BRA 方法是一致的。也就是说，BRA 方法可以进行风险调整和更有效的审计。随着 BRA 方法在文献和实践中的重新出现，本研究提供了实证证据来支持这种审计方法可以导致“创造审计效率”的说法（Bell 等，1997，p. 1）。[作者摘要]