The Joint Audit in Bulgaria – Issues and Prospects

Snejana Bacheva, Daniela Petrova and Iavor Bachev
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Snejana Bacheva: University of National and World Economy, Sofia, Bulgaria
Daniela Petrova: University of National and World Economy, Sofia, Bulgaria
Iavor Bachev: University of National and World Economy, Sofia, Bulgaria

Economic Alternatives, 2019, issue 4, 615-626

Abstract: This piece of research is the first one conducted in regards to the applicability of the joint audit in Bulgaria. The paper summarizes the stakeholder environment in regards to the joint audit in The Republic of Bulgaria after the new Independent Financial Audit Act (IFAA) was adopted and performed for the first time in the country.This aim is achieved by using a survey sent to three groups of potential respondents that are also stakeholders in the whole process. The first group is the group of auditors, the second are supervisory institutions and the third are the entities whose financial statements are subject to joint independent financial audit. The paper ends with an outline of the positive aspects and difficulties in joint audits in the Bulgarian context as well as the recommendations made by the respondents for improving the overall process.

Keywords: audit; joint audit; accounting legislation (search for similar items in EconPapers)
JEL-codes: M40 M42 M48 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:eajour:y:2019:i:4:p:615-626

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