Stakeholders' perception about strengthening the audit report Online publication date: Wed, 11-Apr-2018
by Adriana Tiron-Tudor; George Silviu Cordos; Melinda Timea Fülöp
African J. of Accounting, Auditing and Finance (AJAAF), Vol. 6, No. 1, 2018
Abstract: The need for change in the accounting and audit profession is a topic discussed and accepted by both regulators and accounting professionals. As a result of the global financial crisis, users need more information regarding the auditor's work. This study aims to investigate whether users of audit reports agree with the IAASB's proposal to modify the audit report structure and to include a new section, key audit matters, with the purpose of comprising more information concerning the audit mission, with the aim of improving audit communication. The authors achieve this objective by a qualitative research: exposing a theoretical background and a literature review. In order to fulfil the research objective of analysing responses provided to the IAASB 2013 exposure draft, this study uses the method of content analysis. The results show that the respondents agree with the new audit report structure and the inclusion of the key audit matters section in the audit report.
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