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Audit regulation and the development of the auditing profession: The case of Sweden
Mid Sweden University, Faculty of Human Sciences, Department of Social Sciences. (Centre for Research on Economic Relations)ORCID iD: 0000-0001-5731-0489
Mid Sweden University, Faculty of Human Sciences, Department of Social Sciences. (Centre for Research on Economic Relations)
2012 (English)In: Accounting History, ISSN 1032-3732, E-ISSN 1749-3374, Vol. 17, no 2, p. 241-257Article in journal (Refereed) Published
Abstract [en]

In the wake of the Companies Act of 1895, which stipulated that limited companies should appoint an auditor, an auditing field gradually emerged in Sweden. Our historical review from the end of the nineteenth century to the end of the twentieth century reveals a reciprocal relationship between audit regulation and the development of the auditing profession. Laws and additional rules both codified auditing practice and paved the way for a strengthening of the profession’s position. The findings also show that critical events have triggered these developments. In 1932, a corporate financial scandal forced the profession to improve auditing methods and formulate ethical rules, and the law that followed was considered a significant indication of the importance of auditors in Sweden. The profession’s position was further strengthened in the 1970s when auditors’ associations became rule-making bodies, and the state decided upon additional assignments for auditors. To meet the 1983 prescription in the Companies Act that at least one auditor in a limited company should be authorized or approved, the number of authorized public accountants increased significantly. © The Author(s) 2012.

Place, publisher, year, edition, pages
2012. Vol. 17, no 2, p. 241-257
Keywords [en]
audit regulation; auditing field; auditing profession; critical events; rule-making bodies; Sweden
National Category
Business Administration Economic History
Identifiers
URN: urn:nbn:se:miun:diva-16723DOI: 10.1177/1032373211434723Scopus ID: 2-s2.0-84861173994OAI: oai:DiVA.org:miun-16723DiVA, id: diva2:546027
Available from: 2012-08-22 Created: 2012-08-17 Last updated: 2017-12-07Bibliographically approved

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֖hman, PeterWallerstedt, Eva

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CiteExportLink to record
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  • apa
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  • de-DE
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