Analysis of Auditor's Assistance Statements vs. Extended Revie

Amra Curovic

Student thesis: Master thesis


This assignment contributes to new knowledge about the new statements, how assistance declarations and extended review will have an impact in the accounting profession and how the accounting profession should content themselves with assistance declaration as well as extended review.
This assignment is based on an analysis of three semi-structures interviews and questionnaires. Two interviews were held with companies in accounting class B and one with a bank manager. The questionnaire was answered by 39 accountants/partners in the company ’Dansk Revision’. The accountant’s answers explain their advisory role in the costumer’s choice of the declaration.
The interviews with the companies in accounting class B is made to gain knowledge on whether to adopt the use of assistance declaration as well as extended review and what their attitude is to these declarations. The interviews with the bank manager are incurred to gain knowledge of their position and what they expect of safety in the financial statement.
According to the study, both clients and accountants have positive view of the declarations after the reductions to auditing requirements. The bank manager is in contrast, a little sceptical of the new declarations and believes that the classic declaration, revision, is the best declaration.
The statistics from the questionnaire survey illustrates that there are quite a few who used assistance declaration, more likely 51% and only 9% used the extended review. The implementation will rise associated with increased knowledge about the topic. There is a need to the declarations for them to become more and more presented to users of financial statements.
Based on this, I consider, that assistance declarations and extended review will affect the accounting profession significantly in the future.
The declarations would have positive implications for the accounting profession by maintaining the accountant as the intermediary of confidence in the financial statements.
This assignment will illuminate knowledge that comes from studies with accounting users, accountants and financial advisors, that assistance declaration are useful although the security in the declaration is equal to zero. Based on the studies, I will be able to make new knowledge about the accounting profession should be content with assistance declarations.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2017
Number of pages130