Påvirkning af offentlighedens tillid til revisor: I forbindelse med Revisortilsynets kvalitetskontrol

Louise Kildelund Hänsch & Karina Thougaard Thomsen

Student thesis: Master thesis


The financial crisis has resulted in a turbulent time dominated by economic recession and declining confidence in the market, therefore it is vital, that the public can rely on the companies' Annual Reports to be accurate. However the financial crisis has affected the accounting profession as well and resulted in a declining confidence in the profession. Questions has been raised regarding the significance of auditing, which has resulted in a desire to change the rules applicable to the auditing profession, so that they are timely in relation to the current financial situation. In an attempt to restore the confidence in auditors, the European Commission proposed a new regulation, on November 30 -­ 2011, so that the public supervisory authority's work to a much greater extend should be publicly accessible, as this may well result in increased confidence from the public. Consistent with this the European Commission proposes that the regulator should be subject to a requirement for regular reports on their quality control and publication of individual quality reports. In this context it is interesting to observe how the public’s confidence will be affected by an increased disclosure in connection with the outcome of Auditors' Supervisory Authority quality control and the reporting thereof. The analysis of the task showed that increased transparency in the outcome of the Auditors' Supervisory Authority quality control and the reporting thereof, would affect public’s confidence in auditors. In the initial phase the effect will probably be negative, since the public and the press will have to adjust to the error rate. However, it is estimated that in the long term the public’s confidence will be affected positively, as an increased public availability will result in a greater understanding and awareness of the legal requirements for auditors, which will result in the expectation gap, between what the public expects and which requirements auditors actually have to live up to, will be reduced. However the analysis emphasized that the above mentioned effect will only be realized, if the public becomes aware of the outcome of the Auditors' Supervisory Authority quality control, which is why you will not currently be able to see an impact on the public’s confidence in auditors. Based on the results of the analysis it is recommended, that Denmark, in relations to the degree of public accessibility in connection with the outcome of the Auditors' Supervisory Authority quality control should work toward the degree of public accessibility, as in England, since the pressure from the European side is so massive that this development is considered to be unavoidable. The final recommendation does, however, include a couple of adjustments to the English model, so that it is adapted to Denmark

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2012
Number of pages180