Nature of Audit and Demand for Audit

Podstata auditu a poptávka po auditu

Michal Bobek

Český finanční a účetní časopis, 2018, vol. 2018, issue 1, 5-23

Abstract: The article analyses the purpose of audit in the current market economy. The article focuses on the demand for the audit. The article presents theories of audit (Policeman theory, Lending credibility theory, Theory of inspired confidence and Agency theory) and hypothesis of existence of audit (Monitoring hypothesis, Information hypothesis and Insurance hypothesis). These theories explain the reasons for the existence of the audit and its functions. These theories and hypothesis are compared with the factors determined as crucial for forming the demand for audit services. The article compares the results to the current development and repetitive misstatements in audited financial statements. The results and presents the reasons for that.

Keywords: Audit; Demand for audit; Agency theory; Poptávka po auditu; Teorie zastoupení (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.18267/j.cfuc.507

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