The aim of my master thesis is to investigate how compliance audit influences smaller project financials and how the quality of the audit is in relation to the current theory and legislation. Methodically, the thesis is divided in a theoretical and a practical part: The theoretical part focus on the three classical parameters: thrift, productivity and efficiency. These parameters are in itself simple but combined they are rather complex. Furthermore, I examine the legislation and how this legislation is in relation to the theory. The practical part is a case study focusing on twelve smaller projects from the Ministry of Social Affairs divided to private organizations. Additionally, I conducted an interview with an experienced compliance auditor from a private auditing firm. In this thesis, I demonstrate that the current legislation is leaning on the theory. Although, the issue is that the legislation seems to focus more on the theory rather than the practical interpretation and implementation. The case study show that the quality of the independent auditors report varies and not all projects have been audited in accordance with the established audit requirements. Also, there is some uncertainty on the ministry’s follow-up on the audit. The interview points out the same issues as seen in the case study. Based on the investigations made in this case study we cannot make any conclusions regarding whether the auditors do their job inadequate or not. An examination of the underlying structure of the audit terms indicates that either legislation or the structure of the compliance audit is adequate in relation to both an economic and qualitative approach to compliance audits of smaller projects.
|Uddannelser||Cand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling|