AUDITTA GLOBAL WORLDWIDE is a member of:
Auditor and Audit
AUDITOR AND AUDIT
The Audit of Annual Accounts arises from the need for companies to validate their financial statements by an independent expert, named Financial Auditor, who is registered in the Official Register of Auditors (ROAC) of the Accounting and Auditing Institute (ICAC), which is an autonomous body attached to the Ministry of Economy and Finance. It is at this time that it is necessary to hire a duly registered official auditor with sufficient experience in conducting company audits.
WHAT DOES A FINANCIAL AUDITOR DO?
1
An external audit allows obtaining sufficient and appropriate evidence to express an opinion on the financial statements of a company.
2
The professional who executes it must declare whether or not the information presented is in accordance with generally accepted accounting principles, in addition to identifying those cases in which these principles have not been uniformly applied.
3
The external auditor must be independent and expert in accounting principles.
4
Auditor must determine how much and what kind of evidence auditor must obtain in order to issue a report that complies with auditing standards and avoids the risk of giving the wrong opinion as much as possible.
5
It is not feasible for an external auditor to review all transactions because the review would be endless. Therefore, it takes into consideration the relevant internal control of the company, in order to design the appropriate audit procedures that give it confidence.
6
The external auditor defines what procedures to perform, when to execute them, and their depth or scope. All of this is inherent in the independence, skepticism, exercise of professional judgment, and the auditor´s experience.
7
There is no single formula to carry out the external audit of the same company. Auditing requires adequate planning and supervision, rigorous work methodologies, as well as competent professionals.
8
All this within strict quality controls within the professional framework of the Auditor, clearly defined in IAS-ES 220, and which enable compliance with professional performance standards that guarantee the expected quality.
9
Depending on the evidence obtained during its examination, the external auditor expresses his opinion on the financial statements.
