This diploma thesis deals with audit of financial statements, it will include a proposal for measures to eliminate potential errors during the audit. First of all the thesis defines audit services from the point of view of law, which is closely associated with the activities of The Chamber of Auditors of the Czech Republic as well as with international auditor standards. After that the basic concepts and individual stages in providing auditor services will be described. In the second half of the thesis there will be space for the analysis of audit of financial statement and reporting in practical terms in the selected accounting entity.

Revision av aktiebolags finansiella rapporter och revisorns roll i detta sammanhang har alltid varit en het fråga. Samtidigt, när det gäller små aktiebolags inställning till revision, har denna fråga beaktats av de kostnader som medför för revision, även om det finns en gräns till frivillig revision av svenska aktiebolag. Denna studie kommer att behandla revisionens betydelse för svenska aktiebolag som under studiens gång är revisionspliktiga enligt lag, men som kan komma att påverkas av ett framtida undantag från revisionsplikt om en expansion av gränsvärden sker. Syfte: Studiens syfte är att öka kunskap om revisionens betydelse för små och medelstora svenska aktiebolag verksamma i Dalarna, genom att identifiera de faktorer som påverkar aktiebolagens inställning till frivillig revision vid en expansion enligt EU-direktivets gränsvärden. Metod: För att besvara syftet har vi gjort en kvantitativ studie med deduktiv ansats. Vi har formulerat hypoteser baserade på tidigare forskning inom ämnet för att undersöka om dessa hypoteser kunde accepteras eller skulle förkastas. Detta har gjorts genom en webbenkät, där 400 företag kontaktades. Av dessa 400 var det 80 bolag som valde att medverka, vilket utgör en svarsfrekvens på 20 procent. Den insamlade data analyserades i dataprogrammet SPSS, med korrelationstest och Mann-Whitney U-test. Resultat och slutsats: Studien kom fram till att faktorer som påverkar aktiebolags val av frivillig revision förmodligen är fler än de som behandlats i studien. Av nio hypoteser kunde två accepteras, två kunde antyda till acceptans samt fem hypoteser accepteras inte. De faktorer som kunde identifieras att ha en påverkan var kapital, trygghet, kontroll av finansiella rapporter samt kvalité av finansiella rapporter. Studiens bidrag: Studien kan bidra med beslutsunderlag till myndigheter, vid en eventuell expansion av revisionsplikten. Studien kan även bidra med beslutsunderlag till aktiebolag vilka överväger frivillig revision. / Auditing companies' financial reports and the auditor's role in this context has always been a hot topic. At the same time, when it comes to small companies'attitude to auditing, this issue has been considered by the costs involved in auditing, even though there is a limit to voluntary auditing of Swedish companies. This study will address the importance of auditing for Swedish companies that are subject to statutory audit during the study, but which may be affected by a future exemption from auditing if an expansion of limit values will take place. Aim: The purpose of the study is to increase knowledge of the importance of auditing for small and medium-sized Swedish companies operating in Dalarna, by identifying the factors that affect the companies’ attitude to voluntary auditing in an expansion according to the EU directive's limit values. Method: To answer the purpose, a quantitative study has been done with a deductive approach. We have formulated hypotheses based on previous research in the subject to investigate whether these hypotheses can be accepted or rejected. This has been done through a web survey, where 400 companies were contacted. Of these 400, 80 companies chose to participate, which is a response rate of 20 percent. The collected data were analyzed in the statistics program SPSS, with a correlation test and Mann-Whitney U-test. Results and conclusion: The study concludes that factors that influence companies' choice of voluntary audit are more than those discussed in this study. Of nine hypotheses, two could be accepted, two could indicate acceptance and five hypotheses were not accepted. The factors that could be identified as having an impact were the raising capital, safety for investors and lenders, control of financial reports and the quality of financial reports. Study contribution: The study can provide a basis for decision-making to authorities, in the event of an expansion of the audit obligation. The study can also provide a decision material for companies that are considering voluntary audit.

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Today’s society is developing in a high paced environment and in line with this high pace an expansion is occurring in the accounting profession which is also creating a development in the industry. Since there is a possibility of scarcity in the future the demand for the accounting profession has increased. Thus, back in 2018 the authority changed the qualification requirements to become a certified accountant. Hence, to attract the population to apply for an accounting degree. The purpose of this study is to identify the requirements desired by the employer while in an accounting recurring process, both prior and subsequent the amendment of the law, furthermore whether a change has occurred. The data collection method has been in the form of document study, by reviewing job advertisements designed for the accounting profession then examining the requirements on personal abilities, experiences as well as knowledge desired before and after amendment of the law. 100 job advertisements were examined, the first 50 refer to prior and the remaining 50 refer to following the amended education requirements. The result was visualized on separate tables and charts. The study shows that the desire for personal abilities has reduced on the advertisements since the change in the requirements. Hence, after the change in law the employers are focusing on education and work experiences as these are more demanded in the job advertisements. Though, the view on the ideal characteristic in comparison with the previous research has not changed much. The personal characteristics that were mentioned in the previous research was ability to work as part of a team, independent, communication, analytical and ability to work professionally. However, the difference between the prior research and this study, demonstrates the importance characteristics in a professional accountant also includes the ability being driven, business behavior, service oriented, flexible, accurate and goal oriented. As a suggestion this study can be used for future studies and to take a further step into performing an interview for an accountant profession. For the reason being to comprehend a detailed image of how the accounting profession has been affected by the amendment of the law. This study is written in the Swedish language. / Dagens samhälle utvecklas i en hög takt och i takt med denna utveckling sker det en tillväxt inom revisorsprofessionen men även en utveckling. Då allt fler revisorer behövs och det finns risk för brist på yrket i framtiden, ändrade regeringen år 2018 utbildningskraven för att bli auktoriserad revisor. Detta för att locka fler till att söka sig till utbildningen. Denna studie syftar till att identifiera vilka krav som arbetsgivarna eftertraktar vid rekrytering av revisorer, både innan och efter lagändringarna samt om det har skett någon förändring. Datainsamlingsmetoden har varit i form av dokumentstudie, genom att granska platsannonser riktade mot revisorer och studera kraven på personliga egenskaper, erfarenheter samt kunskaper som efterfrågades i platsannonserna både före och efter lagändringarna. Totalt granskades 100 platsannonser, där 50 av dessa berör innan ändrade utbildningskrav och resterande 50 platsannonser avser efter ändringarna av utbildningskraven. Dessa analyserades och resultatet visualiserades i separata tabeller och diagram. Resultatet av studien visar att efterfrågan på personliga egenskaper har minskats i platsannonserna sedan lagändringarna. Detta beror på att arbetsgivarna har efter lagändringarna fokuserat mer på utbildning och arbetslivserfarenhet då dessa efterfrågas mer i platsannonserna. Däremot har synen på ideala egenskaper i jämförelse med tidigare forskningar inte ändrats så mycket. De personliga egenskaperna som hade nämnts i tidigare forskningar var samarbetsförmåga, självständig, kommunikativ, analytisk samt professionell. Dock är skillnaden mellan tidigare forskningar och denna studie när det gäller viktigaste egenskaperna hos revisorer att det har även inkluderats egenskaperna driven, affärstänkande, serviceorienterad, flexibel, noggrann och målfokuserad. Förslagsvis kan framtida studier ta denna studie steget vidare genom att utföra intervjuer inom revisorsprofessionen. Detta för att få en mer detaljerad bild av hur revisoryrket har påverkats av lagändringarna.

Magister Legum - LLM / The majority of South Africa’s 257 municipalities are in a dire state as evidenced by the recent reports of the Auditor-General (AG). 1 The Minister of Cooperative Governance and Traditional Affairs revealed that only 7 percent of the country’s 257 municipalities are classified as wellfunctioning insofar as they are capable of carrying out their tasks adequately.2 From the remaining municipalities, the Minister pointed out that 87 municipalities (31 percent) are ‘frankly dysfunctional’ meaning that service delivery in these municipalities is poor or at times non-existent because of poor governance, inadequate financial management, and poor accountability mechanisms.

Public performance auditing is a type of auditing government departments’ use to review three specific aspects (efficiency, effectiveness and economy) of a sector, department or project. Upon completion of a public performance audit, the relevant supreme audit institution releases a performance audit report. The purpose of this study is to determine the level content compliance in these public performance audit reports with the international performance audit standards ISSAI 3000-3001. This study compares the level of content compliance in South Africa, a developing countries against Australia, a developed country. A type of text analysis was used to collate the levels of content compliance in a total of fifty reports, twenty-five reports published by the Auditor General of South Africa (AGSA) and twenty-five reports published by the Australian National Audit Office (ANAO), during the period 2006 – 2013. The finding revealed that public performance audit reports published in Australia have a greater level of content compliance than reports published in South Africa. The results of the report further detail the content shortcomings in the reports reviewed. This study will assist both the AGSA and ANAO in highlighting content concerns in these performance audit report, which is the first step towards improvement.

Abstract Background: Auditors play a crucial role in financial statements. This paper discusses auditor image and its relationship with audit quality, professional identification, and client identification. Preserving a favorable auditor image can lead to auditor leniency, compromising the integrity of financial reporting. The auditor's independence and objectivity in ensuring high-quality audits are of utmost importance, and auditor image is a factor that is rarely considered. The image of auditors must be better understood to comprehend their behaviors better and what influences their performance and audit quality.  Purpose: The purpose of this thesis is to test if there is a relationship between auditor image, professional identification and client identification, and audit quality. Additionally, the relationship between auditor image, professional identification, and client identification will be examined.  Method: The thesis draws upon a positivistic research approach with a deductive approach using a quantitative study where a survey was sent out to authorized auditors in Sweden. A multiple regression analysis, Spearman correlation matrix, and principal component analysis have been used to analyze the data collected.  Findings: The results show a significant positive relationship between perceived professional auditor image and audit quality with a focus on economic incentives. Further, the results show a significant positive relationship between client identification and a perceived trustworthy image. The results also show that older and more experienced auditors have a significant negative relationship with audit quality with a focus on economic incentives. In comparison, younger and less experienced auditors have a significant negative relationship with a perceived trustworthy auditor image. Another result was that auditors employed at a Big Four firm have a significant positive relationship with a perceived trustworthy auditor image.

Bakgrund: Revisorsprofessionen har under senare år präglats av ökade kompetenskrav, där Revisorsinspektionen har försökt att framkalla en bredare kompetensbas genom att lätta på revisorernas utbildningskrav. En profession som utsätts för förändringar kan riskera att deprofessionaliseras genom att förlora utmärkande kännetecken, förtroende, auktoritet, kompetens och status. Det väcker ett intresse av att studera vilket avtryck som förändrade utbildnings- och kompetenskrav har lämnat på revisorsprofessionen. Syfte: Uppsatsens syfte är att bidra till en djupare förståelse för hur förändrade utbildningsoch kompetenskrav påverkar revisorer ur ett professionsteoretiskt perspektiv. Som en del av detta ingår att synliggöra hur revisorer upplever professionsidentiteten och har anpassat sig efter förändringen av professionen. Metod: Arbetet tillämpar en deduktiv forskningsansats med teoretisk utgångspunkt i professionsteori och professionsidentitet. Genom den teoretiska referensramen konstrueras en teoretisk modell som ligger till grund för utformandet av arbetets kvalitativa intervjustudie med auktoriserade och godkända revisorer. Slutsats: Studien visar att de nya utbildnings- och kompetenskrav på olika sätt har förändrat revisorsprofessionen. Revisorsprofessionen uppfyller fortfarande samtliga krav för att definieras som en profession. Kännetecknet specialiserad kunskap har däremot blivit mindre exklusivt, vilket kan liknas med en deprofessionalisering och statusförskjutning av dessa delar. Digitaliseringen och ökat kunskapsfokus upplevs å andra sidan skapa större förtroende för revisorn, samtidigt som arbetssättet beskrivs som mer homogent. De nya utbildningskraven upplevdes ännu inte ha haft inflytande på professionsidentiteten. Förändringarna har medfört att revisorsprofessionen snarare går från att utmärkas som en klassisk profession till att mer efterlikna en välfärdsprofession. Som följd föreligger uppfattningen om att revisorsprofessionen är under omdefiniering / Background: In recent years, the auditing profession has been characterized by increased competence requirements, where the Swedish Inspectorate of Auditors has attempted to create a broader knowledge base by easing the educational requirements for auditors. A profession that is subject to educational and competence requirement changes can risk deprofessionalization by losing distinctive characteristics, trust, authority, competence, and status. This raises an interest in studying the impact that changed education and competence requirements have had on the auditing profession. Purpose: The purpose of the essay is to contribute to a deeper understanding of how changing educational and competency requirements affect auditors from a professional theoretical perspective. As part of this, it involves highlighting how auditors experience professional identity and have adapted to the changes in the profession. Method: The essay applies a deductive research approach with a theoretical basis in professional theory and professional identity. Through the theoretical framework, a theoretical model is constructed that forms the basis for the design of the work's qualitative interview study with authorized and approved auditors. Conclusion: The results from the study shows that the new educational and competency requirements have changed the auditing profession. The profession still meets all the criteria to be defined as a profession. However, the characteristic of specialized knowledge has become less exclusive, which can be compared to a process of deprofessionalization and a shift in status. On the other hand, digitalization and increased focus on knowledge are perceived to create greater trust in auditors, while the work process is described as more homogeneous. The new educational requirements were not yet perceived to have influenced professional identity. The changes have led the auditing profession to move from being characterized as a classical profession to resembling more of a welfare profession. As a result, there is a perception that the auditing profession is undergoing a redefinition

Syfte: Syftet med studien är att identifiera digitaliseringens påverkan på revisorers kompetensutveckling över tid för att undersöka hur de tekniska kompetenskraven påverkat revisorsprofessionens traditionella kompetenser. Studien kommer att bidra till ökad kunskap om hur revisorer påverkas av digitaliseringen som råder. Metod: I studien har urvalet bestått av företagen som ingår i Big Four, det vill säga, Deloitte, PwC, KPMG och Ernst & Young. Det empiriska materialet härstammar från samtliga bolags årsredovisning från 2021/2022 respektive 2011/2012 eller 2013/2014 och rekryteringsannonser från 2022 respektive 2011 eller 2012. Studien har tillämpat en kvalitativ metod där en innehållsanalys genomförts av datamaterialet med kodorden digitalisering, kompetens, medarbetare, personal, utbildning och utveckling. Vidare utgår studien från en induktiv ansats. Slutsats: Studien visar att digitalisering påverkar revisorers kompetensutveckling. Företag implementerar tekniska lösningar som samhället efterfrågar och leder till att revisorernas kompetens utvecklas mot det tekniska. Detta genom utbildningar och revisorns egna ansvar att hålla sig uppdaterad inom den tekniska utvecklingen. Digitaliseringen har även ställt krav på en ökad riskhantering som revisorerna behöver ha i åtanke när ny teknik implementeras inom organisationen de verkar inom. Originalitet/värde: Utifrån tidigare forskning är ämnet kring digitalisering inom revision relativt outforskat. Fokus har inte lagts till stor del på revisorns perspektiv, utan en del tidigare forskning har fokuserat på de risker nya arbetssätt skapar och därav ska denna studie bidra med ytterligare kunskap om hur revisorns roll i kunskapsavseende förändrats i takt med samhällets digitalisering. / Purpose: The purpose of the study is to identify the impact of digitization on auditors' competence development over time in order to investigate how the technical competence requirements have affected the traditional competences of the auditor profession. The study will contribute to increased knowledge about how auditors are affected by the digitization that prevails. Methodology: In this study, the sample consists of the companies that are part of the Big Four, i.e., Deloitte, PwC, KPMG and Ernst & Young. The empirical material originates from every of these companies' annual reports from 2021/2022 and 2011/2012 or 2013/2014 respectively and recruitment advertisements from 2022 and 2011 or 2012 respectively. The study has applied a qualitative method where a content analysis was carried out of the data with the keywords digitization, competence, employees, staff, training and development. Furthermore, the study is based on an inductive approach. Findings: The study shows that digitization affects the development of auditors’ skills. Companies implement technical solutions that society demands and lead to the auditors' competence developing towards the technological development. This is done through educations and the auditor's own responsibility to keep up-to-date in the technical field. Digitization has also placed demands on increased risk management, which auditors need to keep in mind when new technology is implemented within the organization they operate within. Originality/Value: Based on previous research, the subject of digitization in auditing is relatively unexplored. The focus has not been placed largely on the auditor's perspective, but some previous research has focused on the risks new working methods create and therefore this study will contribute with additional knowledge about how the auditor's role in terms of knowledge has changed in step with the digitization of society. This thesis is written in Swedish.

Entreprenörskap är en viktig del av samhällets utveckling eftersom det skapar möjligheter till fler jobb, innovation och ekonomisk tillväxt. En entreprenör bör besitta många olika kunskaper och färdigheter, där finansiell kompetens blir allt viktigare för att nå ekonomisk trygghet i dagens ständigt föränderliga finansiella landskap. En entreprenör kan dock inte kunna allt och nätverket blir därför en värdefull resurs för entreprenörens kompetensutveckling. I detta avseende antas revisorer och redovisningskonsulter vara vanliga och viktiga resurser för entreprenörer som söker rådgivning i finansiella frågor. Tidigare forskning har till största del fokuserat på att revisorer och redovisningskonsulter har betydelse för entreprenörens finansiella kompetens, men det finns fortfarande begränsad forskning kring hur samspelet kan förstås. Syftet med denna studie är därför att förstå vilken roll samspelet mellan entreprenören och deras revisor samt redovisningskonsult spelar för entreprenörens finansiella kompetensutveckling.  Studien utgår från en abduktiv ansats och tillämpar en kvalitativ forskningsmetod. Den empiriska datan består av totalt 11 intervjuer, varav 7 entreprenörer från SME i Halland samt 2 revisorer och 2 redovisningskonsulter. För att analysera den insamlade empiriska datan används Gioia-metoden. Empirin visar att revisorerna och redovisningskonsulterna i olika omfattning har varit bidragande till entreprenörernas finansiella kompetensutveckling. Ett ömsesidigt förtroende och förmåga att anpassa språk anses vara särskilt viktiga faktorer för en långvarig relation och ett välfungerande samarbete. De entreprenörer som inte använde sin revisor eller redovisningskonsult som kunskapskälla hade istället andra personer i sitt nätverk som de använde som bollplank.  Studien fann att samspelet mellan parterna spelar en betydande roll för entreprenörernas finansiella kompetensutveckling. Faktorer såsom entreprenörens inställning och kompetensmässiga fas samt språkbruket mellan entreprenör och rådgivare påverkar samspelet. Studien fann även att entreprenörer och entreprenörskap är heterogena fenomen, vilket har en påverkan på samspelet och kompetensutvecklingen. För att uppnå ett effektivt samspel som främjar entreprenörens finansiella kompetensutveckling bör samtliga parter vara medvetna om dessa faktorer för att gemensamt anpassa kommunikationen därefter. / Entrepreneurship is an important component of societal development as it creates opportunities for more jobs, innovation, and economic growth. An entrepreneur should possess a diverse set of knowledge and skills, with financial competency becoming increasingly important in order to achieve financial security in today's ever-changing financial landscape. However, an entrepreneur cannot be expected to know everything, and therefore, networking becomes a valuable resource for an entrepreneur's competence development. In this regard, auditors and accountants are assumed to be common and important resources for entrepreneurs seeking advice on financial matters. Previous research has largely focused on the significance of auditors and accounting consultants for an entrepreneur's financial literacy, but there is still limited research on how the interaction between the entrepreneur and their auditor or accountant can be understood. The purpose of this study is therefore to understand the role that the interaction between the entrepreneur and their auditor or accountant plays in the entrepreneur's financial literacy development.  The study adopts an abductive approach and applies a qualitative research method. The empirical data consists of a total of 11 interviews, including 7 entrepreneurs from SMEs in Halland and 4 auditors and accountants. The Gioia method is used to analyze the collected empirical data. The empirical evidence shows that the auditors and accounting consultants have contributed to the entrepreneurs' financial literacy development to varying extents. Mutual trust and the auditors' and accountants’ ability to adapt their language are considered to be particularly important factors for a long-lasting relationship and a well-functioning cooperation. Additionally, the interaction is considered to be influenced by the phase the entrepreneur is in regarding their financial competence and the entrepreneur's attitude towards their financial competence. Entrepreneurs who did not use their auditor or accountant as a source of knowledge instead had other individuals in their network who they used as sounding boards. The findings indicate that the interaction between the parties plays a significant role in the development of entrepreneurs’ financial literacy. Factors such as the entrepreneur’s attitude and competence level, as well as the language used between the entrepreneur and advisor, influence the interaction. The study also found that entrepreneurs and entrepreneurship are heterogeneous phenomena, which impact the interaction and financial literacy development. In order to achieve effective interaction that promotes the entrepreneur’s financial competence development, all parties should be aware of these factors and adjust their communication accordingly.