Statutory audit – beyond the yes or no debate

The overall purpose of this thesis is to contribute to the debate about the statutory audit for small limited companies, by moving beyond the “yes and no debate”. We will describe and explain the attitudes towards the statutory audit and the existing accounting regulations among micro companies in two different business sectors.In order to fulfil the purpose, we have conducted a qualitative study. We have interviewed the owners of six micro companies from two different business sectors, namely organizational consultants and building contractors.The main conclusions from this study are that independent of their respective attitudes towards the statutory audit, none of the respondents would like the statutory audit to be abolished for small limited companies. Further, the respondents within the building contractors business…


1 Introduction
1.1 Background
1.2 Problem discussion
1.3 Purpose
1.4 Definition of key concepts
1.5 Structure of the thesis
2 Theoretical framework
2.1 Accounting and audit
2.1.1 Accounting
2.1.2 Laws and regulations
2.1.3 Audit
2.1.4 Benefit to stakeholders
2.2 The current debate
2.2.1 Harmonization of regulation and comparable examples
2.2.2 Prevention of economic crime and economic crisis
2.2.3 Simplification of regulation
2.2.4 The government bill 2005/06:116 – Simplified
accounting rules etcetera.
2.3 Concluding comment
2.4 Attitudes
2.4.1 Definition of the attitude concept
2.4.2 What purpose do attitudes serve?
2.4.3 The influence of attitudes
2.4.4 How to document attitudes
2.5 Concluding comment
3 Method
3.1 Choice of method
3.2 Population and strategic selection
3.3 Personal interviews
3.4 Documentation and analysis of data
3.5 Preunderstanding and trustworthiness
4 Empirical findings
4.1 Eriksam Invest AB
4.2 AB Billfeldt & co
4.3 Visec AB
4.4 Lamena Bygg Jönköping AB
4.5 Forsander Byggnads AB
4.6 MLM AB
4.7 Summary of empirical findings
5 Analysis
5.1 Why a limited company?
5.2 Accounting
5.3 Auditor
5.4 The benefits of audit
5.5 Attitudes towards the statutory audit
5.6 Economic crime
6 Contributions to the debate

Author: Törneling, Charlotta,Gustafsson, Rickard

Source: Jönköping University

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