Fremtidens revision: Analyse af EU-forordningens indvirkning på det danske revisionsmarked

Rasmus Alberg

Studenteropgave: Kandidatafhandlinger

Abstrakt

Due to the financial crisis, the European Commission decided that the independence of the auditors had to be discussed. This led to a Green Paper on audit policy in 2010. The commission found it necessary that the public confidence to the auditors was reestablished. Four years later this has resulted in a new regulation which is a major intervention in the audit market in Denmark as well as the rest of Europe. The main objectives for the Commission were to reestablish trust in the auditors as well as heightening the audit quality and the competition on the audit market. The commission was of the opinion that the Big Four; Deloitte, PwC, KPMG and EY, were getting too big and that there were no possibility for smaller audit firms to penetrate the market for Public Interest Entities. The focus of the Green Paper and the following regulation were on mandatory firm rotation and prohibition of non-audit services, as these were the biggest interventions in auditor’s work. The Commission received several responses to the Green Paper as multiple parties would be affected by the regulation. The main focus of this thesis is the consequences of the regulation regarding firm rotation and non-audit services. It is discussed what impacts the regulation will have on the audit market and whether the Commission achieved the goals set in the Green Paper. The regulation has received mixed responses, and it is unclear whether the regulation actually enhances independence, or if it will primarily result in a bigger workload and increased cost for the implicated parties. Plenty of questions remain as the regulation is up for discussion in each member state. The regulation sets a minimum for firm rotation and non-audit services, but it is left to each member state to either strengthen the regulation or soften it within the limits. Furthermore, a discussion on the definition of Public Interest Entities will take place in Denmark, as the law is significantly stricter here.

UddannelserCand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling
SprogDansk
Udgivelsesdato2014
Antal sider82