Die Unabhängigkeit des Wirtschaftsprüfers: Auswirkungen auf die Organisation eines Prüfungsauftrags - Université de Lorraine Access content directly
Master Thesis Year : 2011

Die Unabhängigkeit des Wirtschaftsprüfers: Auswirkungen auf die Organisation eines Prüfungsauftrags


The purpose of this dissertation is to understand in which way the independence of an auditor can have a fondamental role on the financial markets and particurlarly since the outbreak of several financial scandals (ex.: the scandal of Enron in 2002). Therefore we will h ighlight the independence rules currently in force in Luxembourg, in the European Union and on the international level in order to compare their applicability in the daily practice of a luxemburgish auditing firm and to understand how their application could impact the organization of an audit. From a general point of view we will try to assess the independence efforts of a world-renowned audit network, Ernst & Young. Firstly we will clarify some key concepts of independence such as the Agency Relationship that might occurr between a shareholder and the management of a company. Then we will learn about the reasons of the necessity of the audit of a companies’ financial statements and about the role the audit committee in a corporate governance signifies.In the second section the difference between the notions “Independence in Fact” and “Independence in Appearance” will be explained. Furthermore we will clarify the definitions by dint of studies of C. Prat dit Hauret and C. Richard., which show that many factors can influence the independence of an auditor: factors associated to the auditor himself and/or the audit firm, factors related to the client and its financial situation and external factors. In the next section we will describe the representative institutions of the profession of statutory audit in Luxembourg (as the CSSF or the IRE), in the European Union and at the international level (as the IASB). We will see briefly which rules, laws or standards, set up by their care, are in force on August 25, 2011.Subsequently we will discuss about the Green Paper, published on October 13, 2010 by the European Commission, which purpose is to give suggestions for improvement in terms of the auditor’s role, governance and auditor’s independence. A first meeting, occurred on February 2011, showed a high involvement of the majority of the concerned persons and/or institutions. Amongst them are also the responses of the “Big Four” companies. Having taken the opportunity to interview a Partner of Ernst & Young Luxemb ourg, M. Werner Weynand, we will compare his opinion with the responses of the other “Big Four” firms.Finally, we will learn about the implementation of the above mentioned rules in the daily life of the audit firm Ernst & Young in Luxemburg. We will be able to notice that in addition to comply with the legal rules in force, audit firms take the initiative to set up their own procedures of indepedence, which are most likely more restrictive than the law. Despite of the exigency of confidentiality of Ernst & Young the readers shall obtain the best possible overview of the independency procedures currently implemented within Ernst & Young.
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hal-01935516 , version 1 (26-11-2018)


  • HAL Id : hal-01935516 , version 1

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Céline Kirch. Die Unabhängigkeit des Wirtschaftsprüfers: Auswirkungen auf die Organisation eines Prüfungsauftrags : Beispiel einer luxemburgischen Wirtschaftsprüfung. Business administration. 2011. ⟨hal-01935516⟩
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