This dissertation was written as part of the MSc in Management
at the International
Hellenic University.
This study deals with investigating the underlying causes of voluntary audit of firms
that may opt for not being audited. The study consists of two main parts dedicated to
the topic's theoretical overview and empirical investigation. Relevant theory proposes
that voluntary audit could be mainly seen as the result agency, management, and signaling factors. However, the different criteria applied by different countries to exempt
firms from auditing as well the contradictory existing empirical evidence, highlight the
importance of continuous research on this study's topic.
On the empirical level, the study focuses Greek firms. Despite the obvious interest of
the topic, Greek researchers have not so provide conclusive evidence as to why Greek
firms choose to be voluntarily audited. In brief, the study's evidence suggests that voluntary audit is mainly the result of firm size. Other factors, often cited in relevant literature, were found to have marginal or no effect at all.
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