Revisors udfordringer ved brug af eksperter

Abstract

This thesis focuses on the auditor’s use of experts and takes its starting point based on the claim that auditors move away from their area of expertise, when they are evaluating an expert’s work. This thesis also builds on the trend that the usage of experts has been rising and tries to identify the challenges faced by the auditors using experts and how these challenges can be solved.The paradigm shift which resulted in the usage of more fair value valuations have also made the use of experts more frequent and therefore made it more difficult for the auditors to conduct their audit without consulting an expert. The data used in this thesis have been gathered through interviews with auditors from the largest audit firms in the world. These interviews along with the international standards on auditing are the primary data source to the conducted analysis. The analysis of this thesis focuses on auditors and their use of experts. The analysis was conducted to get a better understanding of the audit process and how auditors worked with experts in real life situations. The analysis conducted highlights that using experts in audits are not only centralized around valuation, but they are also used in IT-audits, in CSR-reports and in connection with complex tax or vat problems. The use of experts and the process therein is based a lot around the auditor’s professional skepticism and the auditors understanding of his limits in knowledge and competencies. The main point of the process of involving an expert should be made on the basis of the audit process and the identified risks. If the risks identified have a large impact on the audit, then the expert should be involved quite early or else the expert should be involved when needed.The challenges found through the analysis are that the auditors move out of their own expertise area, when they are evaluating an expert’s work. The auditors are losing their supremacy in the audit process, because if the tendencies of using more experts. The last challenge observed is the auditor’s lack of knowledge within IT and the expanding technological advancements. The thesis also puts forward solutions to some of the challenges faced by auditors, when working with experts. The usage of certification of the auditors to make sure their knowledge is up-to-date, to use more IT and technology in the audits and to make the MSc in audit more contemporary