Ny erklæringsstandard - udvidet gennemgang: En analyse og diskussion af regeringens, pengeinstitutternes og FSR - danske revisorers forventninger til lovforsalget

Camilla Tilgreen Bruncke & Pernille Thaulov Kofod

Student thesis: Master thesis


Our report deals with the government’s proposal for a new declaration standard for companies in accounting class B as an alternative to audit. The proposal is part of the government aim to reduce the administrative burden for businesses and the initiative is expected to reduce the administrative burden of audit by 25 pct. Earlier initiatives by the government have not had any significant effect in practice, which is why we believe it is relevant to examine how much effect this latest initiative will have. Our focus is on the role of the financial sector in regarding the success of the declaration standard in practice. It is our hypothesis that the financial sector will decide when and where the new declaration standard will be made use of. To examine our problem area, we have chosen to look more closely at the government’s present proposal as well as their earlier efforts. We have correlated the government’s initiatives with statements from FSR – Danish Federation of Chartered Accountants. Moreover we have made a questionnaire survey among Danish financial institutes, acquired a statement from the Financial Committee and interviewed FSR – Danish Federation of Chartered Accountants. On the basis of our analysis we can conclude, that the financial institutes will be the ones who decide in which cases the declaration standards will be applied when credit assessments are made. To what degree the declaration can be applied will be subject to precise consideration in each case. To increase the potential success of the declaration standard, we have found it necessary for the possibility of additional declarations in those cases where certain accounting areas require more attention than what would normally be covered. We are well aware that the possibility of additional declarations depends on the cost and thereby the cost difference of audit at international standards and audit at the declaration standard. The success of the declaration in practice depends among other things on the need for trust following the financial crisis and an acceptance of the declaration standard. We believe that the extent to which the declaration standard is applied can only be measured after a few years in practice. There is often resistance to change, which is why the application of a new declaration in the place of audit will require a period of adjustment. Following the passing of the act, there will be a major task of communicating and advising on the use of the declaration standard to the relevant parties such as financial institutes, accountants and businesses so they can assess the possibility for its application.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2012
Number of pages110