WHAT IS THE PURPOSE OF THE AUDIT ?

You want to do an audit to follow the standards or to certify your company? It is an evaluation tool elaborated by an expert, to guarantee your authenticity on what you undertake. In this case, it is necessary to carry it out, periodically. So, what is really the role of the audit?

Roles of the audit

Performing an audit involves making a judgment about your financial statements, the organization. In other words, it is an internal control operation in a company or entity, according to a specific standard. The judgment is impartial, even if the operations undertaken serve to evaluate and invest. These operations correspond to written procedures, or reports with those in charge. The role of the audit is therefore to serve as a tool for continuous improvement of the management strategy.

It allows the identification of possible weaknesses and shortcomings of a company. The written report resulting from this observation contributes to carry out actions which will correct the gaps, or the dysfunctions noted, on the basis of the results noted. The audit experts take as reference, the ISO 19011 standard dealing with the technique developed by the audit, and the skills of these auditors.

Audit activities

The external auditors are mainly situated in the references, as controllers at the level of the accounting, international and national referentials, and even on the main activities of the internal controls. It is a professional who has the required skills to examine the data provided by the company to be audited. In addition to this, he/she is also responsible for verifying that the information provided corresponds strictly to the activities of the company.

The writing of the report will serve to determine the exact level and clarity of the accounting. This report can be beneficial or not for the company, because it reports on the management. The role of the audit can thus lead to the closure when the report is negative, until the next examination which will determine a possible adjustment, in case of respect of the imposed standard.

Sectors of activity of the audit

The role of an internal auditor is to assist a given company in determining its objectives. The auditor intervenes in the process of evaluating the management and the risks. He then recommends a formula to improve decision making, thus impacting on performance and efficiency. The suggestions he brings concern mainly finance and accounting.

The external audit differs from the internal audit, because it is carried out in an audit firm, that is, a specialized institution located outside the company. The role of the external audit is to provide support from a distance.

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