NEW CHALLENGES FOR AUDITORS IN FORMING AN OPINION AND DISCLOSING INFORMATION ON THE MANAGEMENT REPORT OF FINANCIAL STATEMENTS OF BANKS

Adela Socol

Annales Universitatis Apulensis Series Oeconomica, 2017, vol. 1, issue 19, 8

Abstract: In the last years improving disclosure effectiveness has become a priority issue in financial reporting of banks. The purpose of this paper is to explore ways to improve financial reporting disclosure studying auditors' attitude in forming an opinion on Management report of banks (Administrators' report). First three banks by assets size from Romania were studied in order to identify the differences and similarities between format/structure and contents of Management report of banks, based on the financial statements for the financial period that ended on 31 December 2015. The focus is on auditors' professional judgment in determining the most adequate considerations and concerns when expressing their opinion on financial statements based on Management report of audited entity. We analysed the banks' options in adopting a proper format and structure of management report and in making materiality assessments through management report. The paper shows the differences in the studied banks' Management reports, the standardized form of auditors' opinion regarding to Management report of banks and doubts about not fully understandability by users of financial statements.

Keywords: Financial Reporting; Management report on financial statement; Banking audit; Auditors' opinion (search for similar items in EconPapers)
JEL-codes: D82 G21 G28 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
http://oeconomica.uab.ro/upload/lucrari/1920171/08.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:alu:journl:v:1:y:2017:i:19:p:8

Access Statistics for this article

More articles in Annales Universitatis Apulensis Series Oeconomica from Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia
Bibliographic data for series maintained by Dan-Constantin Danuletiu ().