AUDIT OF STATE-OWNED ENTERPRISES: MOST RELEVANT AREAS OF RISK

Abstract

This paper aims to analyze the most relevant audit risks in state-owned public companies as well as whether the characteristics of the company or of the auditor influence them. For this purpose, the audit reports of the Spanish State-owned enterprises are analyzed. The results confirm that these entities present, for the most part, reports without qualifications and that the most relevant aspects may be affected by the size, liquidity and economic profitability of the entity, as well as by the fees paid to the auditors.