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Internal Control - Efficiency in the Audit Process

Nordenadler, Cecilia and Änghede, Elisabeth (2006)
Department of Business Administration
Abstract
The purpose of this research is to examine the implications of the provisions in the Swedish Code of Corporate Governance (the Code) concerning auditor attestation of the internal control report. We will focus on how the auditors’ augmented responsibilities will affect the efficiency in the audit process.Our research indicates that the main benefit from reviewing the internal control report is achieving more reliable internal controls, which results in greater prevention of misstatements in the financial statements. This will affect the efficiency in the audit process since the auditor can place more reliance on internal controls when performing audit procedures. This implies that the benefits of preventing misstatements could outweigh the... (More)
The purpose of this research is to examine the implications of the provisions in the Swedish Code of Corporate Governance (the Code) concerning auditor attestation of the internal control report. We will focus on how the auditors’ augmented responsibilities will affect the efficiency in the audit process.Our research indicates that the main benefit from reviewing the internal control report is achieving more reliable internal controls, which results in greater prevention of misstatements in the financial statements. This will affect the efficiency in the audit process since the auditor can place more reliance on internal controls when performing audit procedures. This implies that the benefits of preventing misstatements could outweigh the efforts and resources spent on reviewing the internal control report. (Less)
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author
Nordenadler, Cecilia and Änghede, Elisabeth
supervisor
organization
year
type
H1 - Master's Degree (One Year)
subject
keywords
Internal control, Efficiency, Audit methods, The Swedish Code of Corporate Governance, Sarbanes-Oxley Act, Management of enterprises, Företagsledning, management
language
Swedish
id
1350135
date added to LUP
2006-06-13
date last changed
2012-04-02 16:05:05
@misc{1350135,
  abstract     = {The purpose of this research is to examine the implications of the provisions in the Swedish Code of Corporate Governance (the Code) concerning auditor attestation of the internal control report. We will focus on how the auditors’ augmented responsibilities will affect the efficiency in the audit process.Our research indicates that the main benefit from reviewing the internal control report is achieving more reliable internal controls, which results in greater prevention of misstatements in the financial statements. This will affect the efficiency in the audit process since the auditor can place more reliance on internal controls when performing audit procedures. This implies that the benefits of preventing misstatements could outweigh the efforts and resources spent on reviewing the internal control report.},
  author       = {Nordenadler, Cecilia and Änghede, Elisabeth},
  keyword      = {Internal control,Efficiency,Audit methods,The Swedish Code of Corporate Governance,Sarbanes-Oxley Act,Management of enterprises,Företagsledning, management},
  language     = {swe},
  note         = {Student Paper},
  title        = {Internal Control - Efficiency in the Audit Process},
  year         = {2006},
}