Hvornår og hvordan skal revisionserklæringer i årsregnskaber informere regnskabsbruger ved tvivl om going concern, og hvilke konsekvenser vil IAASB’s forslag til ny revisionserklæring have?

Simon Peter Estrup

Student thesis: Master thesis


The financial crises has led to companies going bankrupt. The Auditor’s Report has not always provided a true picture of the financial statements, as there are cases where the auditor has issued an audit opinion without supplementary information or a modified audit opinion, although the company has subsequently gone bankrupt. Consequently, the users of the financial statements have criticized the auditors and have demanded more transparency in the Auditor’s Report in the financial Statements. This issue has started a debate about improving the auditor’s report in the European Commission and has resulted in a proposal for a new auditor’s report provided by IAASB. IAASB suggests that the new Auditor’s Report be implemented in June 2014. The objective of this thesis is to describe IAASB’s proposal and analyze the changes to the current Auditor’s Report prepared in accordance with ISA 700. The thesis discusses the changes with focus on Going Concern, and includes an illustration of Auditor’s Reports for two listed companies prepared in accordance with IAASB’s proposal. IAASB’s proposed Auditor’s Report’s structure is changed materially, and more information about the audit is required compared to the Auditor’s report prepared in accordance with ISA 700. Auditors have provided comments to IAASB’s proposed Auditor’s report and argue that the management is responsible for the Annual Report and therefore additional information should be disclosed by the management. Moreover, auditors in Denmark are covered by “Confidentiality” and consequently, they are not allowed to provide information in the Annual Report that has not already been discussed with the management and informed by the management in the Annual Report, as the proposal suggests. The thesis discusses if the user of the financial statements will be satisfied with the changes that IAASB has proposed in relation to going concern matters, and discusses if other changes to the regulation will give the users of the financial statements more sufficient and timely information about going concern doubts. The thesis will also analyze and discuss the extent of the situations where the latest Auditor’s Report did not include supplementary information or a modified conclusion related to going concern, although the company later went bankrupt.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2013
Number of pages118