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Hakan Keser & Thomas Riise Johansen

Studenteropgave: Kandidatafhandlinger


The debate on exemption from statutory audit for small companies has intensified in recent years in Denmark, after government in 2006 introduced audit exemption for smaller companies. The audit exemption is a part of the government's strategy for minimize the administrative burdens and the harmonization of audit exemption to the EU’s fourth company law directive. The directive was introduced back in 1978 that allowed member countries to grant exemption for small companies, which were under certain size limits. Most of Europe had since introduced this option for smaller companies. Later trends and examples from other European countries suggest that the exemption of the audit in Denmark in the long term will include all companies in accounting class B. The latest audit exemption as 1.January 2011 is also proof of this. In connection with the audit exemption for smaller companies in Denmark, there have been very different reactions from different banks, industry associations, and especially accountants. There have been various arguments for the consequences of this process could have been given to the auditors, customers and stakeholders. England had introduced exemption in 1994 before reached EU maxima in 2004, and has great experience comparing to Denmark. The experiences from England and data drawn from surveys, shows Accountants will experience greater competition, since many accounting firms will begin offering audit at cheaper prices, and some companies will only develop its expertise in consulting. Especially the small audit firms will be struggling because they deal with the very small companies. They will instead try to sell their services by being more visible towards companies and offer some prices are relatively low compared to the large accounting firms' fees. The auditors should probably expect to hear more of ease administrative burdens for all Bcompanies in the future, as it is the government's strategy to harmonize the exemption with the EU maxima. Experience to date and experience from abroad shows no tendency to auditors can expect a revenue decline in general. Accountants will in future focus on other alternatives reviewed in order to retain their clients and fees.

UddannelserCand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling
Antal sider93