THE KEY AUDIT MATTERS AS AN ELEMENT OF THE INDEPENDENT AUDITOR’S REPORT – A BOOSTER TO THE CORPORATE GOVERNANCE

Q3 Social Sciences
Boris Tušek, Ana Ježovita
{"title":"THE KEY AUDIT MATTERS AS AN ELEMENT OF THE INDEPENDENT AUDITOR’S REPORT – A BOOSTER TO THE CORPORATE GOVERNANCE","authors":"Boris Tušek, Ana Ježovita","doi":"10.22598/IELE.2018.5.2.9","DOIUrl":null,"url":null,"abstract":"In 2009 the International Auditing and Assurance Standards Board (IAASB) initiated a project entitles ‘Auditor reporting’ with an objective to appropriately enhance the communicative value and relevance of the audit report. This act of the IAASB can be considered as a starting point in the revision of the International Standards on Auditing related to the structure and content of the audit report. After perennial consultations, dialogs, numerous comments received, on January 2015, the IAASB issued six revised and one new Standard related to the auditors reporting. Revised and new Standards become effective for audits of financial statements for periods ending on or after December 15, 2016. The most significant content change relates to the new Standard ISA 701 Communicating Key Audit Matters in the Independent Auditor’s Report. The intention of including new paragraph(s) in the report, related to the key audit matters (KAMs), was to enhance its communication value by providing greater transparency on performed audits, and to give insights to stakeholders to the matters that, in the auditor’s professional judgement, were of the most significance. The subject of the paper is to analyse changes in the structure and content of the new audit report, with a focus to the new element KAMs. Related to the research problem, the objective of the paper will be to investigate improvements of the new audit reports, research an average number of KAMs included in one report, and make conclusions about differences between Croatian statutory auditors in prepar* Tenured Professor at University of Zagreb, Faculty of Economics & Business, Department of Accounting; btusek@efzg.hr ** Assistant Professor at University of Zagreb, Faculty of Economics & Business, Department of Accounting; ajezovita@efzg.hr Intereulaweast, Vol. V (2) 2018 242 ing the audit report. The research covers audit reports of Croatian listed companies (public interest entities PIEs) for 2016 and 2017. Research methodology includes using appropriate statistical methods as descriptive statistics, non-parametric tests, principal component analysis, and clustering.","PeriodicalId":52280,"journal":{"name":"InterEULawEast","volume":"13 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"8","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"InterEULawEast","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.22598/IELE.2018.5.2.9","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 8

Abstract

In 2009 the International Auditing and Assurance Standards Board (IAASB) initiated a project entitles ‘Auditor reporting’ with an objective to appropriately enhance the communicative value and relevance of the audit report. This act of the IAASB can be considered as a starting point in the revision of the International Standards on Auditing related to the structure and content of the audit report. After perennial consultations, dialogs, numerous comments received, on January 2015, the IAASB issued six revised and one new Standard related to the auditors reporting. Revised and new Standards become effective for audits of financial statements for periods ending on or after December 15, 2016. The most significant content change relates to the new Standard ISA 701 Communicating Key Audit Matters in the Independent Auditor’s Report. The intention of including new paragraph(s) in the report, related to the key audit matters (KAMs), was to enhance its communication value by providing greater transparency on performed audits, and to give insights to stakeholders to the matters that, in the auditor’s professional judgement, were of the most significance. The subject of the paper is to analyse changes in the structure and content of the new audit report, with a focus to the new element KAMs. Related to the research problem, the objective of the paper will be to investigate improvements of the new audit reports, research an average number of KAMs included in one report, and make conclusions about differences between Croatian statutory auditors in prepar* Tenured Professor at University of Zagreb, Faculty of Economics & Business, Department of Accounting; btusek@efzg.hr ** Assistant Professor at University of Zagreb, Faculty of Economics & Business, Department of Accounting; ajezovita@efzg.hr Intereulaweast, Vol. V (2) 2018 242 ing the audit report. The research covers audit reports of Croatian listed companies (public interest entities PIEs) for 2016 and 2017. Research methodology includes using appropriate statistical methods as descriptive statistics, non-parametric tests, principal component analysis, and clustering.
关键审计事项是独立审计报告的组成部分,是公司治理的助推器
2009年,国际审计与鉴证准则理事会(IAASB)启动了一个名为“审计师报告”的项目,旨在适当提高审计报告的沟通价值和相关性。国际会计准则理事会的这一举动可以看作是修订与审计报告结构和内容相关的国际审计准则的一个起点。经过长期磋商、对话和收到的大量意见,2015年1月,国际会计准则理事会(IAASB)发布了与审计报告相关的六项修订准则和一项新准则。修订后的新准则对截至2016年12月15日或之后的期间的财务报表审计生效。最重要的内容变化涉及新标准ISA 701在独立审计师报告中传达关键审计事项。在报告中加入与关键审计事项(KAMs)相关的新段落的目的是通过提供更大的审计透明度来提高其沟通价值,并使利益相关者了解在审计师的专业判断中最重要的事项。本文的主题是分析新审计报告的结构和内容的变化,重点是新的要素资产管理。与研究问题有关,本文的目的是调查新审计报告的改进,研究一份报告中包括的KAMs的平均数量,并就克罗地亚法定审计员在准备中的差异得出结论*萨格勒布大学经济与商业学院会计系终身教授;btusek@efzg.hr **萨格勒布大学经济与商业学院会计系助理教授;ajezovita@efzg.hr Intereulaweast, Vol. V(2) 2018 242审计报告。该研究涵盖了2016年和2017年克罗地亚上市公司(公共利益实体)的审计报告。研究方法包括使用适当的统计方法,如描述性统计、非参数检验、主成分分析和聚类。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
InterEULawEast
InterEULawEast Social Sciences-Law
CiteScore
1.10
自引率
0.00%
发文量
11
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信