Causes of Auditor Mistakes in Published Audit Reports in Bosnia and Herzegovina

Hrvoje Šapina and Sabina Ibrahimagič

Economic Research-Ekonomska Istraživanja, 2011, vol. 24, issue 4, 164-174

Abstract: The authors carried out research in which they identified errors in published audit reports carried out by some independent auditors from Bosnia and Herzegovina. They also carried out the analysis on causes for the identified errors. Through the analysis of the collected audit reports it has been established the existence of numerous deviations comparing to the requirements of the International Standards on Auditing (ISA) 700 and 701, with aspect of the formal contents of the reports as well as the essence of the reports. The research established that the causes of the identified errors are: inadequate legislature in Bosnia and Herzegovina, inadequate continuous education of the auditors, insufficiently developed auditing practice, absence or inadequate internal control of quality in most audit firms, and absence of public supervision on the state level. The recently passed law which refers to accounting and auditing opens some more space for certain improvements, especially through establishing the Audit Chamber and the Public Supervision Board.

Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/1331677X.2011.11517476 (text/html)
Access to full text is restricted to subscribers.

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:taf:reroxx:v:24:y:2011:i:4:p:164-174

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rero20

DOI: 10.1080/1331677X.2011.11517476

Access Statistics for this article

Economic Research-Ekonomska Istraživanja is currently edited by Marinko Skare

More articles in Economic Research-Ekonomska Istraživanja from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().