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Abstract(s)
A maior exigência dos utilizadores da informação financeira motivou alterações na forma de comunicar dos gestores e auditores. Estas mudanças traduzem-se na divulgação de mais informação útil e valiosa. Inclusive, no caso da auditoria, surgiu uma nova norma, a International Standards on Auditing (ISA) 701, que introduz a obrigatoriedade de relato, nas empresas cotadas, dos riscos de distorção material mais significativos, designadamente Key Audit Matters (KAM). Desta forma, o presente estudo visa identificar a relação existente entre os riscos reportados pelos gestores e auditores. Adicionalmente, importa compreender em que medida e de que forma as KAM se aproximam dos riscos divulgados pelo gestor na secção de Gestão de Risco do Relatório de Gestão. Para tal, recorreu-se ao índice da Bolsa de Valores de Londres – FTSE 100, onde foram recolhidos os relatórios anuais de 72 empresas, no exercício de 2020. A natureza do estudo é qualitativa e exploratória, na medida em que foram efetuadas análises documentais aos relatórios de auditoria e secções de Gestão de Risco, que constam no Relatório de Gestão. Os resultados permitiram concluir que não existe uma grande aproximação entre os riscos reportados pelos dois agentes. No contexto atual, esta aproximação não é expectável face ao atual normativo de auditoria, que exclui muitos aspetos de gestão. Os dois intervenientes apenas concordam na divulgação dos riscos em 13% das situações. Adicionalmente, foi possível concluir que o gestor reporta 3 vezes mais riscos que o auditor.
The greater demand from users of financial information motivated the change in the form of communication of managers and auditors. Thus, it is required that they disclose more useful and valuable information. In addition, in the case of audits, a new standard has emerged, the International Standards on Auditing (ISA) 701, which introduces the obligation to report, in listed companies, the areas of higher assessed risk of material misstatement, designated as Key Audit Matters (KAM). In this way, the present study aims to identify the relationship between the risks reported by managers and auditors. Additionally, it is important to understand to what extent and in what way the KAM are similar to the risks disclosed by the manager in the Risk Management section of the management report. In this scope, the London Stock Exchange index - FTSE 100 was used for the sampling, where were collected the annual reports of 72 companies for the year 2020. The nature of the study is qualitative and exploratory, since it was performed documental analysis of the auditor’s report and Management Risk section, both that can be found in the Annual Report. The results allowed us to conclude that there is no great approximation between the risks reported by the two agents. Nowadays, this approximation is not expected considering the actual audit standards that exclude some relevant aspects of management. Also, they only agree on the disclosure of risks in 13% of the situations. Additionally, it was possible to conclude that the manager reports 3 times more than the auditor.
The greater demand from users of financial information motivated the change in the form of communication of managers and auditors. Thus, it is required that they disclose more useful and valuable information. In addition, in the case of audits, a new standard has emerged, the International Standards on Auditing (ISA) 701, which introduces the obligation to report, in listed companies, the areas of higher assessed risk of material misstatement, designated as Key Audit Matters (KAM). In this way, the present study aims to identify the relationship between the risks reported by managers and auditors. Additionally, it is important to understand to what extent and in what way the KAM are similar to the risks disclosed by the manager in the Risk Management section of the management report. In this scope, the London Stock Exchange index - FTSE 100 was used for the sampling, where were collected the annual reports of 72 companies for the year 2020. The nature of the study is qualitative and exploratory, since it was performed documental analysis of the auditor’s report and Management Risk section, both that can be found in the Annual Report. The results allowed us to conclude that there is no great approximation between the risks reported by the two agents. Nowadays, this approximation is not expected considering the actual audit standards that exclude some relevant aspects of management. Also, they only agree on the disclosure of risks in 13% of the situations. Additionally, it was possible to conclude that the manager reports 3 times more than the auditor.
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Keywords
KAM Gestão de risco Relatório de gestão Management risk Annual report