Revisionsplanlægning i recessionsperioder

Helle Nielsen & Carina Rosenørn Maglenfeldt

Student thesis: Master thesis

Abstract

The objective of this Thesis is to examine the challenges that the auditor faces in relation to the planning process during periods of recession. We have analysed this issue by a case study where we performed a number of interviews, based on accounting standards 300, 315 and 330, and based on where focus should be, in our opinion, in a recession. We have analysed whether the interviewed auditors perform adequate procedures within the areas of the accounting standards, also in relation to recession periods and whether the timing is adequate in the relation to the planning phase and the dynamic process. It was found on the basis of the analysis that the auditors in by far most of the areas assess the material risks, but that they often base the assessment on the situation last year and therefore do not update the planning in the actual planning phase. If there are changes to the matters found during the planning, the auditor is not, to a sufficient extent, good enough at documenting the matter in his planning. We found also that the auditor is very good at assessing if there is going concern in the planning process and that auditor assesses the material issues in connection with the recession, but that the auditor can, also in this situation, be better at documenting the situation. Finally, we found, on the basis of the Thesis, that it would be a good help for the auditor if the accounting firms prepare a standard form for the planning to the effect that the auditor inquires management about the issues which it will be necessary to deal with in the planning process. It would also be a help for the auditor in connection with the planning if auditor could gain an overview of industries with a negative return and which, therefore, are at the risk of bankruptcy as the auditor then will pay attention to the industries subject to risk and how the domino effect may have an impact on the individual clients.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
LanguageDanish
Publication date2009
Number of pages154