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Mercedes Mareque Alvarez-Santullano
Universidade de Vigo
Francisco Javier López Corrales
Universidade de Vigo
María Teresa Fernández Rodríguez
Universidade de Vigo
Vol 22 No 1 (2013), Thematic Block The external audit: reflections to improve this activity
Submitted: 13-06-2013 Accepted: 13-06-2013
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The aim of this paper is to analyze whether audit reports on annual accounts are issued in ac-cordance with the Auditing Standards (NTA) on reports; for this we study whether the format and content of the reports comply with current Spanish standards and, their relationship to the type of opinion they contain and the auditor issuing them. In our study we start from a sample of 1,236 audit reports on unlisted Galician firms selected by the stratified random sampling method, for the period 2004-2007. The dependent variable was defined as the overall qualification assigned to a report according to the degree of implementation of the NTA and, the independent variables as type of auditor and type of opinion, we conducted a test of the hypotheses through regression analysis, in order to explain the changes in the probability of finding a report not compliant with the NTA based on the variables described. The results obtained permit us to conclude that reports are not always written in accordance with the NTA, as they contain errors. Reports with a qualified opinion contain the greatest deviations from the standards, and auditors exercising individually are higher propensity to have to issue reports not in accordance with NTA compared to companies or multinationals.
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