Analiza modifikacija revizorskog mišljenja o finansijskim izveštajima listiranih kompanjia u Srbiji

Abstract

In this study we shed light on the quality of financial statements of listed companies in Serbia by analyzing auditors' opinions expressed in independent auditors' reports for the 2015-2017 period. We revealed that the percentage of modified audit opinions was well above the level in developed countries, confirming weak market and regulatory incentives to improving financial reporting practices. We analyzed the propensity of different audit firms to issue modified audit opinions, as well as underlying financial reporting matters that led to modifications. The analysis revealed that the impairment of assets is the main reason for auditors' modifications, reflecting unfavorable economic reality of many companies. By expanding our analysis to the emphasis of matter paragraph in audit reports with modified, as well as unmodified audit opinion, we also provided a complete insight into the extent of appearance of the going concern issue among the listed companies.