The development of the role of the statutory audit in the transitional Polish economy
AbstractThe paper presents an analysis of the short form statutory audit reports relating to Polish listed companies from 1992 to 1996 inclusive (over 200 reports) and a sample of unlisted business entities for 1992, 1993 and 1995 (over 1,100 reports). The analysis focuses upon segmentation in the market for audit services as between foreign and domestic auditors; evolving attitudes to corporate governance as revealed through the addressees of short form statutory audit reports; the perceived nature of the statutory audit task as revealed in the incidence and nature of qualified audit opinions and explanatory notes to the unqualified opinions. The analysis confirms that Polish statutory audit regulation in relation to the short form audit report is comparable de jure to Western European norms. However, de facto, fewer going-concern qualifications are observed than may be expected in a society undergoing the economic restructuring implicit in the transition from a command to a market economy. In economic conditions characterized by high levels of systemic instability associated with the transition process, individual statutory auditors understandably eschew commercial judgements and focus on the legality of the accounting record. Such opinions may nevertheless be of value in a transitional economy.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal European Accounting Review.
Volume (Year): 7 (1998)
Issue (Month): 3 ()
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Derek Bailey, 1995. "Accounting in transition in the transitional economy," European Accounting Review, Taylor & Francis Journals, vol. 4(4), pages 595-623.
- Judy Day & Peter Taylor, 2010. "Trajectories of accounting and auditing development in EU enlargement: comparative analysis of ten new member states," Journal of Management and Governance, Springer, vol. 14(4), pages 313-350, November.
- N. King & A. Beattie & A. -M. Cristescu & P. Weetman, 2001. "Developing accounting and audit in a transition economy: the Romanian experience," European Accounting Review, Taylor & Francis Journals, vol. 10(1), pages 149-171.
- Marek Schroeder, 1999. "A description of the contents of the long-form statutory audit reports of a sample of Polish listed companies for 1996," European Accounting Review, Taylor & Francis Journals, vol. 8(1), pages 115-137.
- Katarzyna Kosmala MacLullich, 2001. "Truth and Fairness in Accounting: A Case of Polish Transition Economy," CERT Discussion Papers 0102, Centre for Economic Reform and Transformation, Heriot Watt University.
- Judy Day & Peter Taylor, 2004. "Institutional Change and Debt-based Corporate Governance: A Comparative Analysis of Four Transition Economies," Journal of Management and Governance, Springer, vol. 8(1), pages 73-115, March.
- Nhu Tuyên Lê & Marc De Bourmont & Olivier Vidal, 2011. "La perception des changements comptables par les acteurs : le cas du Viêt-Nam," Grenoble Ecole de Management (Post-Print) hal-00650545, HAL.
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