Lietuvos akcinių bendrovių išorinio finansinio audito išvadų tyrimas

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Mokslo publikacijos / Scientific publications
Document Type:
Straipsnis / Article
Lietuvių kalba / Lithuanian
Lietuvos akcinių bendrovių išorinio finansinio audito išvadų tyrimas
Alternative Title:
Investigation of financial audit reports of Lithuanian corporations
In the Journal:
Taikomoji ekonomika: sisteminiai tyrimai [Applied economics: systematic research]. 2013, t. 7, Nr. 1, p. 157-176
Reikšminiai žodžiai: Auditas; Audito išvada; Finansinės ataskaitos; Audit; Audit report; Financial statments.
Auditas / Audit; Finansai. Kapitalas / Finance. Capital.
Audit report; Financial statments.
Summary / Abstract:

ENAn independent auditor is an intermediary between a company and users of its financial information, who should provide objective information about the company’s financial reporting reliability and help market participants to make sound financial decisions. Analysis of the scientific literature revealed that various problems related to financial statements’ audit reports are often analyzed in the other countries. However, in Lithuania this area of scientific research is vaguely addressed. The aim of this paper is to assess financial audit reports of Lithuanian corporations and their changes during the period of 2006-2011. This study is also intended to update and complement the results of the similar research for 2000-2006. To conduct the analysis index, analytical and descriptive research methods have been employed. In total 117 financial audit reports on financial statements of Lithuanian corporations in telecommunications, energy, utilities, alcohol and diary sectors have been examined. Results of the conducted analysis revealed that during the period of 2006-2011 financial statements of Lithuanian corporation were audited by total of 15 audit companies but 85 % of all audit reports were written by so called "big four" audit firms. In comparison, during the period of 2000-2006 audit reports by "big four" audit companies amounted for 80 %. Conclusion has been made that Lithuanian audit market is highly concentrated and oligopolistic and Lithuanian regulatory bodies are not making adequate efforts to promote competition in the audit market.On the other hand, audit market’s dominance by the large firms is a common problem in the EU therefore joint EU initiatives are expected. The results of the research also revealed that requirement of the mandatory audit firm rotation (at least every 5 years) is not effective in Lithuania as during the period of 2006-2011 16 (or 53 %) Lithuanian companies did not comply with it. The research has also questioned what types of audit opinions have been submitted on the financial statements of Lithuanian corporations. The analysis revealed that during the period of 2006-2011 unqualified audit reports dominated and constituted 76.27 % of total audit opinions. During the period of 2000–2006 unqualified reports amounted for 54.37 % of total reports. The second largest group of audit reports was qualified reports which decreased from 35.92 % during 2000-2006 up to 21.47 % during the period of 2006-2011. The main reasons for qualified report did not significantly changed from the 2000-2006 research findings and were most often related to inappropriate accounting for property plant and equipment (68 % of total reasons for qualified reports) and noncompliance or inappropriate compliance with accounting standards (58 % of all reasons). However, diminishing number of qualified audit reports allows us to make conclusions that the quality of financial reports has been improving over the time, auditors work along with the corporations to solve the prior year’s accounting issues and improve competencies of accountants. [From the publication]

1822-7996; 2335-8742
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Pokyčių Lietuvos įmonių audito išvadose vertinimas ES Audito reformos kontekste / Otilija Jurakovaitė. Lietuvos aukštųjų mokyklų vadybos ir ekonomikos jaunųjų mokslininkų konferencijų darbai. 2015, 18, p. 76-85.
2021-02-02 19:02:56
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