Audit reports in Australia : 2005-2013: Preliminary Findings
Carson, Elizabeth, Zhang, Yuyu, & Fargher, Neil (2014) Audit reports in Australia : 2005-2013: Preliminary Findings. CPA Australia Ltd, Southbank, Victoria.
This paper provides a preliminary summary of audit reports for Australian listed public companies for the period 2005 to 2013, focusing on auditor reporting in the most recent period 2011 to 2013. Prior research has shown that audit reports modified for uncertainty relating to the going concern assumption increased following the shock of the Global Financial Crisis (GFC) in late 2007. This occurred in Australia from 2008 where Xu et al. (2011) find that reports modified for going concern uncertainty increase from 12% in 2005 to 2007 to 18% in 2008 and 22% in 2009. Similar trends are observable for the United States as shown by an increase from 14% in 2003 to 21% in 2008 (Cheffers et al. 2010, Geiger et al. 2014). The aim of this report is to examine the frequency of the various types of audit reports issued in Australia during the period 2011 to 2013, with a focus on reports emphasizing significant uncertainty in regard to the going concern assumption.
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|Keywords:||Audit reports, frequency of audit reports, Matter paragraphs in audit reports|
|Subjects:||Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100)|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
|Copyright Owner:||Copyright 2014 Certified Practising Accountant, Australia|
|Deposited On:||02 Nov 2014 22:28|
|Last Modified:||04 Nov 2014 00:36|
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