The audit of Euronext Growth entities in Norway: Insight from Experienced Auditors : A qualitative study on auditing on Euronext Growth Oslo according to the Norwegian auditing law and (EU) no. 537/2014
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- Master Thesis 
In 2022 the Norwegian Financial Supervisory Authority published a thematic report that looked at how the audit of companies on Euronext Growth takes place, and which regulatory requirements Oslo Stock Exchange has that also should be implemented to Euronext Growth. These implementations relate to a lower materiality on Euronext Growth, full IFRS review if the entity uses IFRS as accounting language, and the use of an assignment controller in the auditing. Through semi-structured interviews with Norwegian auditors who are industryspecialized, this thesis aims to see whether the requirements from the thematic report have been implemented, how the audit is carried out and whether the audit of companies on Euronext Growth should be identical to the auditing on Euronext Growth. This master thesis examines how companies listed on Euronext Growth are audited in Norway, with a focus on internal audit policies and practices. The study includes interviews with experienced auditors from the Big 4 companies who have conducted audits for clients listed on Euronext Growth. We found that the audit companies have implemented the requirements highlighted in the thematic report and that companies on Euronext Growth are considered public interest entities internally, but some of the auditors see no preliminary desire to audit entities on Euronext Growth as if they were listed on Oslo Stock Exchange, which means audit as public interest entities, as of today. There is still uncertainty around the financial reporting on Euronext Growth, on the basis that this is a multilateral trading facility, and both the users and the entities on Euronext Growth are often inexperienced. This is considered in the audit through the determination of materiality, which for Euronext Growth companies is determined the same as for entities on Oslo Stock Exchange, which implies a lower materiality than for unlisted entities. Opinions are divided regarding conducting audits on a formal PIE basis, with some partners reluctant due to the intended low-cost trading platform with less regulation and rules. Overall, from the study, it seems that audit firms in Norway have implemented all the improvements suggested by the Norwegian Financial Supervisory Authority’s thematic report.