En undersøgelse af fejl i reviderede regnskaber kontra ikke-reviderede

Mie Blom

Student thesis: Master thesis


The Danish Business Authority yearly receives more than 200.000 annual reports from Danish companies. Of this total, 94% of the companies prepare annual reports in accordance with accounting class B. This thesis addresses these companies compared to the value of audit. Most of these companies are subject to audit obligation, in accordance to the rules of the Danish Financial Statements Act, and many of the companies who are not obliged to be revised, are voluntarily revising their annual reports. The limits of mandatory audit were eased for the first time in 2006 and eased further more in 2011. At the same time the relaxations where submitted to a special monitoring by the Danish Business Authority. The Danish Business Authority concludes, among other things in these evaluations, that there is no significant difference in the quality of the revised vs. non-audited annual reports from companies in Class B. These conclusions has created a field of interest and relevance of this thesis, as The Danish Business Authority’s monitoring additionally will create a basis for evaluating a further relaxation of the mandatory audit. Inspired by this, this thesis will conduct an empirical study of errors in audited financial statements, in order to compare these to non-audited and thereby discuss the value of audit for class B companies and a further relaxation of the mandatory audit. The primary empirical data is based on 189 responses from auditors on a quantitative questionnaire, related to all 2014 audits. Furthermore the primary data consists of 13 qualitative responses, also from auditors, related to one specific audit in 2014. Based on the primary empirical data, the thesis concludes in which areas of the financial statements, in which parts of the process for the preparation of financial statements and on which items the auditor has the greatest impact on elimination of significant errors. Additionally the thesis concludes on the role of the auditor as being value-adding for the company. Based on the above, this thesis concludes that the auditor plays a significant role in the development and composing of the annual report (assistance), in order for the annual report to present a true and fair view of the financial statements. It is furthermore concluded that there is a problematic gray zone in this segment, from the value of assistance to the value of endorsement in accordance to the auditing requirements. For many companies, other factors as the bank, suppliers, governments, and the value of the seal of approval, has a strong influence on the choice of audit versus non-audit.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2015
Number of pages130