The auditing implications of Maltese football clubs : a qualitative approach

Abstract

Purpose: This study seeks to identify the different audit implications which independent auditors encounter when performing an external audit on non-professional and semi-professional Maltese football clubs. Design: Semi-structured interviews were conducted to collect the necessary data for the purpose of this dissertation. The participants of this study were auditors who performed an external audit on the financial statements of local football clubs during the past twelve months. The findings were analysed and discussed with reference to literature which was reviewed on the subject. Findings: The results from the study show that the audit implications vary according to the book-keeping system which is adopted by the audit client. The results imply that the book-keeping system varies according to the treasurer's knowledge. Additionally, other factors such as the audit procedures adopted by the participants and the audit risks perceived by the same participants who participated in this study were discovered. Conclusions: The most significant findings of this study relate to the fact that the audit implications of local football clubs vary according to the clubs treasurers' competence, knowledge and skills. The treasurers' competence was grouped into three categories: low, medium, and high levels of competence, knowledge and skills. Implications: This study provides an insight of the work which is performed by auditors when auditing local football clubs. The results show that more accounting knowledge is necessary to facilitate the work of the auditor, hence training by the local regulator should be provided to the related parties.