Eurosox: En analyse af virksomheders efterlevelse af årsregnskabslovens § 107 b

Jakob Sørensen & Stina Froholdt

Studenteropgave: Kandidatafhandlinger

Abstrakt

This thesis is an analysis of Danish Companies compliance with Danish Financial Statements Act § 107 b. Due to the extraordinary fraud case, related to Enron, the US government approved the Sarbanes Oxley Act in 2002. The Act introduced some strict rules that listed companies, had to comply with. The main complaints over Sox were the cost for implementation and ongoing maintenance, which was seen as too high. The law received a lot of attention and was discussed worldwide, where countries discussed, it they should apply similar acts or not. The European Union did not want and act as strict as this, but they still believe that they had to rebuild the trust to the annual reports. The solution was changes to the 4th and 7th EU directive in 2006. The changes should provide more transparency, in the annual reports. One of the main changes in the directives was that companies now suddenly, had to describe the internal control systems in regards to the financial process, and there compliance with corporate governance rules. The directives did not have a detail description of what the companies had to do, in order to comply with the description of internal controls. Instead they would let the companies, develop a best practice. In Denmark, the 4th and 7th directive was implemented in 2008, in the Danish Financial statements Act no. 107 b. We find it interesting to analyze why and how it was implemented. Our thesis primarily consists of an analysis of how companies comply with the law. The result of our analysis shows, that there is room for improvement, since a lot of companies does not comply with the law. Finally the theses draw perspectives to, the applicability of § 107 b and the auditors’ responsibilities in their audit opinion in regards to their responsibility of companies’ compliance with the law.

UddannelserCand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling
SprogDansk
Udgivelsesdato2011
Antal sider161