Eksisterer der en forståelseskløft vedrørende going concern? En empirisk analyse af forståelseskløften mellem bankerne og revisors påtegning på årsregnskabet relateret til going concern.

Abstrakt

The independent auditor’s report on the accounts is the only way in which an auditor can draw attention to problems or challenges regarding Going Concern to external stakeholders and users of the accounts. These problems are elucidated to the users by including an Emphasis of Matter paragraph or express a qualified opinion regarding Going Concern in the auditor’s report. Thus, it is important, that the users of the accounts understand and appreciate the meaning of an auditor’s report including an Emphasis of Matter paragraph or a qualified opinion regarding Going Concern. The purpose of this thesis is to investigate whether the users of the accounts do indeed understand an auditor’s report on an annual report, in which the accountant has included an Emphasis of Matter paragraph or expressed a qualified opinion regarding Going Concern. The thesis deals only with companies in accounting class B according to the Danish act of annual financial statements. The thesis outlines a variety of selected, relevant theory on the subjects; Going Concern, accountants’ reporting and the role played by the accountant including regulation of the auditor’s report. The theory presented will contribute to fulfilling the purpose of the thesis by forming the basis for an analysis of a questionnaire compiled to investigate these matters. The questionnaire has been presented to a group of respondents consisting of business advisors and credit employees in larger Danish banks. This group was targeted, because they are regarded among the most important users of the annual reports. This survey is complimented by an interview with a state authorized public accountant. Building upon the results of the survey and the key points of the interview, an analysis - and subsequently an evaluation - is carried out, regarding the following subjects: the lack of understanding regarding Going Concern, responsibility for financial reporting and ‘udvidet gennemgang’ (the Danish term for Extended Review). Finally, it is concluded that there is a discrepancy between what is understood by business advisors and credit employees in banks, and what is implied by the accountant in the auditor’s report in which an Emphasis of Matter paragraph is included or a qualified opinion regarding Going Concern Side 4/158 has been expressed. The respondents in our survey believe that their understanding is sufficient or good, but our results indicate that this is not the case - since the respondents seem to have grave deficiencies in their understanding of the auditor’s report.