Table of Contents

Table of Contents ……………………………………………………………………………………………………….. 2
List of figures …………………………………………………………………………………………………………….. 3
Acknowledgments………………………………………………………………………………………………………. 4
Abstract …………………………………………………………………………………………………………………….. 5
1 Introduction ………………………………………………………………………………………………………… 6
1.1 Research background ……………………………………………………………………………………. 6
1.2 Aims and objectives ……………………………………………………………………………………… 7
1.3 Approach to the research ………………………………………………………………………………. 7
1.4 Dissertation organisation ………………………………………………………………………………. 7
1.5 Scope and Limitations…………………………………………………………………………………… 8
1.6 Major Contributions ……………………………………………………………………………………… 8
1.7 Researcher suitability ……………………………………………………………………………………. 8
1.8 Recipients of the research ……………………………………………………………………………… 8
2 Literature Review………………………………………………………………………………………………… 9
2.1 Auditor’s report ……………………………………………………………………………………………. 9
2.1.1 Current Standard Auditor’s Report ………………………………………………………….. 9
2.1.2 Content of the current auditor’s report ……………………………………………………. 10
2.1.3 Problems with the current auditor’s report………………………………………………. 11
2.1.4 Proposed changes by the IAASB …………………………………………………………… 12
2.1.5 Sought for Changes ……………………………………………………………………………… 15
2.2 Bank lending ……………………………………………………………………………………………… 16
2.2.1 Bank lending process …………………………………………………………………………… 16
2.2.2 Auditor’s report and bank lending …………………………………………………………. 17
2.2.3 Austrian financial market ……………………………………………………………………… 18
2.3 Conclusion on Literature Review …………………………………………………………………. 19
3 Research Questions ……………………………………………………………………………………………. 21
4 Methodology …………………………………………………………………………………………………….. 22
4.1 Introduction ……………………………………………………………………………………………….. 22
4.2 Research Philosophy …………………………………………………………………………………… 22
4.3 Research Approach …………………………………………………………………………………….. 24
4.4 Research Strategy……………………………………………………………………………………….. 24
4.5 Research Choice…………………………………………………………………………………………. 25
4.6 Research Time Horizon ………………………………………………………………………………. 26
4.7 Data collection …………………………………………………………………………………………… 26
4.7.1 Primary Data Collection……………………………………………………………………….. 26
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4.7.2 Secondary Data Collection……………………………………………………………………. 27
4.8 Data Analysis …………………………………………………………………………………………….. 28
4.9 Sampling …………………………………………………………………………………………………… 29
4.10 Practical Efforts …………………………………………………………………………………………. 29
4.11 Researcher Bias ………………………………………………………………………………………….. 30
4.12 Limitations ………………………………………………………………………………………………… 30
4.13 Research Ethics ………………………………………………………………………………………….. 31
5 Analysis and Findings ………………………………………………………………………………………… 33
5.1 Research Question 1 …………………………………………………………………………………… 34
5.2 Research Question 2 …………………………………………………………………………………… 37
5.3 Research Question 3 …………………………………………………………………………………… 42
5.4 Conclusion on Analysis and Findings ……………………………………………………………. 45
6 Conclusion ……………………………………………………………………………………………………….. 46
7 Recommendations for future research ………………………………………………………………….. 50
8 Self-Reflection ………………………………………………………………………………………………….. 51
8.1 Reflection on process and sources ………………………………………………………………… 51
8.2 Reflection on dissertation formulation …………………………………………………………… 52
8.3 Reflection on own learning ………………………………………………………………………….. 53
9 Bibliography …………………………………………………………………………………………………….. 56
10 Appendix ………………………………………………………………………………………………………. 63
10.1 Interview Guide …………………………………………………………………………………………. 63
10.2 Auditor’s Report ………………………………………………………………………………………… 66
10.3 Proposed Auditor’s Report ………………………………………………………………………….. 68