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Aspects Regarding the Changes to the Independent Auditor’s Report. The Case of Public Interest Entities

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  • Denis Adrian LEVANTI

    (PwC Romania)

Abstract

The time when the auditors of the public interest entities have been issuing a standardized audit report, without describing the most significant risk identified throughout the audit process, has ended. In the new reporting framework, the audit reports provide more information and transparency to stakeholders, in particular on the significant matters discussed by the auditors with those charged with the entities’ governance. The purpose of the research is to identify and analyze the key audit matters reported by the financial auditors for a sample of public interest entities in Romania. The results highlighted that most auditors complied with ISA’s requirements on the presentation of key audit matters, respectively that auditors have different approaches in terms of the average number of key audit matters reported, nature of the key audit matters and disclosure of the materiality used in the audit process.

Suggested Citation

  • Denis Adrian LEVANTI, 2019. "Aspects Regarding the Changes to the Independent Auditor’s Report. The Case of Public Interest Entities," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 17(155), pages 486-486.
    • Handle: RePEc:aud:audfin:v:17:y:2019:i:155:p:486
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    References listed on IDEAS

    as
    1. Elizabeth Gutierrez & Miguel Minutti-Meza & Kay W. Tatum & Maria Vulcheva, 2018. "Consequences of adopting an expanded auditor’s report in the United Kingdom," Review of Accounting Studies, Springer, vol. 23(4), pages 1543-1587, December.
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    Cited by:

    1. HAŢEGAN Camelia-Daniela, 2020. "Key Audit Matters At The Financial Services Companies: Are There Differences?," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 168-178, December.

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    More about this item

    Keywords

    audit report; public interest entities; key audit matters; stakeholders;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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