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dc.description.abstractPurpose: the objective of this dissertation is to analyse recent trends in Maltese modified audit reports. Previous studies by Farrugia (2003) and Grech (2007) served as a basis for the compilation of this study which analysed trends in Maltese Modified Audit Reports between 2005 and 2009 and compared such trends with those between 1997 and 2004. Design: the objectives of this study were achieved through quantitative and qualitative research methods. The first part of the research involved analysing the audit reports of a random sample of 374 companies registered with the Registry of Companies, whilst the second part of the study consisted of semi-structured interviews conducted with ten audit partners from selected audit firms in Malta. Findings: the modification rate obtained in this study for the period 2005 to 2009 was 31.7%. Furthermore, the study also obtained an average qualification rate of 23.04%. The majority of qualifications were attributed to private exempt companies and international trading companies non-exempt companies. Generally, private exempt companies had their audit report qualified on the basis of limitation on scope whilst the majority of international trading companies qualifications received a qualification due to disagreement with management. The findings revealed that non-Big Four auditors were more likely to issue audit reports that are not strictly in compliance with the applicable auditing standards. The findings also show that when compared to previous studies, there has been a slight increase in the qualification rate in the period under review. It was also noted that the 'small company qualification', a qualification which has been long abolished was still being used in the auditor's reports till 2009. Conclusions: the results show that there is still much room for improvement in audit reporting in Malta. Whilst the Big Four audit firms do not seem to have any issues in appropriately adhering to audit reporting standards, the smaller audit firms and sole practitioners were found to still be the main cause for inappropriate audit reporting. Value: the findings of the study highlighted key areas where audit quality is lacking in Malta. More guidance to smaller audit firms and sole practitioners is needed to enhance auditor reporting in Malta.en_GB
dc.subjectFinancial statements -- Maltaen_GB
dc.subjectAuditing -- Maltaen_GB
dc.subjectAuditors' reports -- Maltaen_GB
dc.titleRecent trends in Maltese modified audit reportsen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.publisher.institutionUniversity of Maltaen_GB
dc.publisher.departmentFaculty of Economics, Management and Accountancy. Department of Accountacyen_GB
dc.contributor.creatorVassallo, Jean Paul-
Appears in Collections:Dissertations - FacEma - 2013
Dissertations - FacEMAAcc - 2013

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