Udvidet gennemgang: Analyse af aktørers reaktion på indførelse af erklæringsstandarden

Rikke Kirch & Sara Kirch

Student thesis: Master thesis

Abstract

The present thesis is engaged with statutory audit and an introduction of the new Danish declaration standard udvidet gennemgang. In the recent years exemption from statutory audit has been the focal point of intense debate, here it has been argued that the need for audit is not as crucial within a small company, as compared to a large corporation. The discussion has contributed to a development with exemption from statutory audit and introduction of alternative standards in EU member states related to the needs of SMEs. The implementation of national authorized alternative assurance or related services have contributed to disharmony among member states, for which reason FEE appeals members to show restraint in regard to national developments. Despite pressure from the European Commission, IFAC has not yet launched necessary deeds with reference to composition of an international standard. Exemption from statutory audit has taken place three times in Denmark respectively in 2006, 2011 and recently in 2013 with the introduction of udvidet gennemgang. The new Danish declaration standard is an extension of ISRE 2400 (Revised), where additional procedures are executed. The main objective of audit exemption and the launching of the new service was to create cost savings for SMEs. However the cost saving argument by the Danish government has not seemed to get the audit stakeholders enrolled. The purpose of this thesis is to convey an analysis of Danish actors’ response to the introduction of the new declaration standard, hence the amendment of the marketplace through regulation. The results of our study show a quite surprisingly questionable demand for the alternative assurance standard, which indicates a limited application of udvidet gennemgang. In continuation, a remarkable lack of knowledge is experienced, not only among financial institutions, managing directors and SKAT but also among accountants. The application of the new Danish alternative assurance standard depends on the actors’ attitude towards the need, knowledge and the impression of unaudited accounts and reliability. In order to ensure a successful implementation and employment, the knowledge and competence in the assurance standard has to increase.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
LanguageDanish
Publication date2013
Number of pages244