Resultatstyring i danske ikke-finansielle børsnoterede selskaber, herunder effekten af valg af revisionsvirksomheder og underskrivende revisorer

Peter Paaske Andersen

Student thesis: Master thesis


This thesis examines earnings management at Danish non-financial listed companies and which affect the choice of audit firms and auditors have at the quality on the annual report. The effect can be measured by different models. The models measure the quality by the size of the discretionary accruals. In the thesis we analyze which model there is the best finding discretionary accruals. The analysis shows that the Jones model from 1991 and the modified Jones model from 1995 are equally to find the discretionary accruals. The thesis uses the modified Jones model because there will be too many results and the results were found to be the same. Our analysis of the choice of audit firms was about whether it was a Big4 audit firm or not and how many audit firms that audited. The result of Big4 audit firms showed that companies that are audited by a Big4 audit firm had less earnings management. The result was significant. But the result of the numbers of audit firms was not significant. So there was no evidence that accounting quality would increase by using several audit firms. The analysis of the auditors was also divided in to tests. The first was about female auditors as signatories and the second was about the number of auditors. The result of the female auditors was not significant. So the hypothesis that women increased accounting quality could not be confirmed. But the hypothesis about the number of auditors could. It showed that companies with only one auditor had lower accounting quality than companies with more auditors. This shows that listed companies should use a Big4 audit firm and have more than one auditor when the annual report is audited. Finally, this indicates that the Green Paper that the EU has made around a minimum of two audit firms in each listed company does not increase accounting quality. Instead there should be a requirement for a minimum of two signatories’ auditors at each annual report.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2013
Number of pages101