Revisionens betydelse vid kreditprövning
Påverkan ur kreditgivares perspektiv.
Bachelor thesis in business administration with emphasis in accounting and auditing. Spring term 2011, Mälardalens Högskola.Authors:Jim Hansson, Filip Sahl and Pererik Sewerin.Advisor:Lennart Bogg.Key words:Abolition of mandatory auditing, optional audit, auditor, audit.Title:The role of audit in a credit review - impact from the creditor's perspectiveBackground:As of November 1st2010, auditing became optional for micro companies in Sweden. This leads to an opportunity for about 70 % of the joint-stock companies to choose whether or not to keep their auditors. Creditors are affected by this as they may receive a less trustworthy base to make a good credit review if many companies choose to proceed their accountings without the control of an auditor. Creditors have the option to require that companies are to be reviewed by auditors, while authorized accounting consultants may be a possible substitute as a quality control for the accountings.Purpose:The purpose of this thesis is to examine what impact optional audit has had in credit processes so far and look into alternative forms of reviews for businesses.Problem definition:? Does auditing simplify for the creditors in a credit review? ? Is there some kind of accounting that could be a substitute for the audit?Method:The study is qualitative in character through six interviews. Five interviews with creditors and one with SRF. Thereafter, the empirical evidence is analyzed together with the frame of reference.Result and conclusions:The creditors have not changed their practices significantly. This is due to the low limits and that the micro companies tend to have relatively low credits. Most people start their businesses on a small scale and expand from there. Many micro companies have chosen not to exploit the possibility of abolishing the auditing. There is no full substitute for the audit as the auditor's legislated independency as well as their reputation for quality, are important factors when the companies are to be reviewed for possible credits. However, there are some advantages to reports from authorized accounting consultants as the audit report only confirms accounts that could be half a year old.Further research:The study is done during an early stage of optional audit. It would be interesting to redo the study it in a later event as it would reveal if more companies have chosen to continue their operations without an auditor. Furthermore, it would be interesting to research how the creditors would react to a possible future raise of the limits and if they then would be forced to change their routines regarding credit reviews.