Forventningskløften imellem regnskabslæser og revisor, med særligt fokus på opdaterede krav omkring revisorpåtegning

Casper Bernhardt Jensen

Student thesis: Master thesis


The focus of this assignment is to analyze the expectation gap between auditors and interest of the annual financial statement. Auditors are often subject to a lot of awareness, when a company goes bankrupt or when the people of interest’s financial exception to a company are not fulfilled. The main expectation gap is often related to users of the financial statement expecting the auditors to have performed a full audit of all transactions within the financial statement, when really the auditor’s job is something else. A consequence of this expectation gap is that a new law of audit has been implemented in Denmark. The new law is based on a EU regulation and directives. Due to the Danish involvement in EU, we are obligated to impose the new law of auditing. In order to assess the magnitude of the expectation gap three cases of actual situations are represented in this thesis. In the cases, the companies presented their annual reports with a clean audit opinion for the past years and then without any identification, they go bankrupt and the investors are left questioning why this occurred. The auditor in the cases were the first subject to criticism as the users of the financial statement expected the auditors to identify such indicators through their audit. Furthermore, this thesis is built on a questionnaire of when the expectation gap often occurs and how the users of the financial statement actually use the auditor’s opinion. The results show that there is a misunderstanding between how an auditor thinks the auditor’s opinion should be read, and how for example an investor thinks an auditor’s opinion should be read. The new law of audit has also implemented a new Statement from the Independent Auditor, which contains a more detailed description on the work performed and key audit matters. These new paragraphs are expected to provide the user of the financial statement a deeper and clearer understanding of the financial statement. This thesis contains a detailed evaluation of how the new law and the rules for the auditor’s opinion will affect the issues of the expectation gap. It is my clear expectation that the new Statement from the Independent Auditor will result in a better understanding of the audit performed, but on the other hand, the new and more detailed auditor’s 4 opinion could mean that the auditor’s opinion gets too informational and therefore lead to a new kind of an expectation gap

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2017
Number of pages104