Literature review: risk-based performance audit framework

The purpose of this research is to examine the impact of risk-based performance audit coverage criteria on company value. Considering the areas for improvement identified by The Audit Board of Indonesia (BPK RI) in conducting performance audits and audit risk management. As a statistical strategy, the VOS Viewer method emphasized better-designed studies and organized their results to form a composite picture of the state of the knowledge on the problem or topic being reviewed. According to the findings of the analysis, Until 2020, the majority of BPK's audits of SOE consists of compliance audits compared to performance audits. According to the 2019 Peer Review Report, BPK has encountered the same difficulties in conducting performance audits over the past fifteen years. Therefore, reviewers suggest that implementing risk-based audits is a solution. The novel aspect of this study is to develop a complete risk-based performance audit framework through a literature review, revealing the framework for risk-based performance audits that highlights the relationship between risk management and risk assessment by internal auditors on performance audits and firm value.