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dc.contributor.authorDowning, Jeff
dc.contributor.authorLangli, John Christian
dc.date.accessioned2020-04-14T07:56:23Z
dc.date.available2020-04-14T07:56:23Z
dc.date.created2019-01-13T07:30:55Z
dc.date.issued2019
dc.identifier.citationAccounting and Business Research. 2019, 49 (1), 28-67.en_US
dc.identifier.issn0001-4788
dc.identifier.urihttps://hdl.handle.net/11250/2650888
dc.description.abstractWe examine small firms’ compliance with tax and accounting regulations before and after a change in the threshold for mandatory auditing. Prior to 2011, all Norwegian firms were required to be audited. In 2011, a law change allowed small Norwegian firms to choose not to be audited. After this change, the Norwegian Directorate of Taxes conducted on- and off-site inspections of a representative sample of 2117 Norwegian firms, with a focus on compliance with specific requirements in tax and accounting regulation. We use the results from these inspections to construct a compliance quality score (CQS). We find that the firms that chose to opt out of auditing have lower CQS than do firms that chose to continue to be audited; that the CQS of firms that chose not to be audited declined after opting out; and that some of the opt-out firms fully mitigated the decline in CQS by engaging external accountants or auditors to prepare their annual financial statements. The results should be of interest to regulators considering increasing the thresholds for mandatory auditing, as our results show that (i) firms that choose not to be audited can experience a decline in CQS after opting out and (ii) CQS can be maintained at the same level as before if opt-out firms engage external consultants that assist in preparing the annual accounts.en_US
dc.language.isoengen_US
dc.publisherTaylor and Francisen_US
dc.titleAudit exemptions and compliance with tax and accounting regulationsen_US
dc.typeJournal articleen_US
dc.typePeer revieweden_US
dc.description.versionacceptedVersionen_US
dc.rights.holderCopyright policy of Taylor & Francis, the publisher of this journal: 'Green' Open Access = deposit of the Accepted Manuscript (after peer review but prior to publisher formatting) in a repository, with non-commercial reuse rights, with an Embargo period from date of publication of the final article. The embargo period for journals within the Social Sciences and the Humanities (SSH) is usually 18 monthsen_US
dc.source.pagenumber28-67en_US
dc.source.volume49en_US
dc.source.journalAccounting and Business Researchen_US
dc.source.issue1en_US
dc.identifier.doi10.1080/00014788.2018.1442707
dc.identifier.cristin1655538
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode1


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