Væsentlighed og revisors udfordringer i forbindelse med fastlæggelsen

Thomas Skovfoged & Brian Schmit Jensen

Studenteropgave: Kandidatafhandlinger

Abstrakt

The purpose of this thesis is to examine how auditor should determine the levelof materiality and analyse which challenges and considerations follow as aresult of this determination and what auditor's position is in this regard. The auditor's determination of the levelof materiality appears from ISA 320 which states that this must be determined based on an expert evaluation influenced by auditor's understanding of the financial statement user's need for financial information. The purpose of the levelof materiality is generally to ensure that the financial statements do not inc1ude material misstatements influencing the financial statement users' evaluation of the financial statements. The purpose can be fulfilled by auditor determining the nature, timing and scope of the audit procedures as well as evaluating any misstatements found. In addition to the study of ISA 320, we have examined scientific artic1es and based on these identified possibie challenges and considerations which auditor is presented with in connection with the determination of the levelof materiality. To find out more about auditor's position in this regard, we have sent out questionnaires as well as conducted personal interviews with experienced accountants. Materiality is essential in regards to the audit process and the financial statement user. Auditor's determination of the levelof materiality is not standardised mathematical science, but legislation and practice has set forth a number of guidelines which auditor should consider. The precise way in which the levelof materiality should be determined depends on the individual entity's specific circumstances, evaluated based on auditor's professional opinion. In other words, we are dealing with a subjective evaluation which must be made with the financial statements user's expectations in mind and for this reason, different auditors may evaluate materiality differently. We conc1ude that auditor should determine the levelof materiality based on a professional assessment. Through the study of the questionnaires and interviews, auditor's position supports the above identified challenges and considerations auditor is faced with.

UddannelserCand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling
SprogDansk
Udgivelsesdato2010
Antal sider162