[{"@context":"http:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/wiki.edu.vn\/all2en\/wiki14\/accounting-audit-wikipedia-the-encyclopedia\/#BlogPosting","mainEntityOfPage":"https:\/\/wiki.edu.vn\/all2en\/wiki14\/accounting-audit-wikipedia-the-encyclopedia\/","headline":"Accounting audit – Wikipedia, the encyclopedia","name":"Accounting audit – Wikipedia, the encyclopedia","description":"Accounting book Until the computerization of accounting processes by states and companies, audits were carried out in view of paper","datePublished":"2020-12-28","dateModified":"2020-12-28","author":{"@type":"Person","@id":"https:\/\/wiki.edu.vn\/all2en\/wiki14\/author\/lordneo\/#Person","name":"lordneo","url":"https:\/\/wiki.edu.vn\/all2en\/wiki14\/author\/lordneo\/","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/44a4cee54c4c053e967fe3e7d054edd4?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/44a4cee54c4c053e967fe3e7d054edd4?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Enzyklop\u00e4die","logo":{"@type":"ImageObject","@id":"https:\/\/wiki.edu.vn\/wiki4\/wp-content\/uploads\/2023\/08\/download.jpg","url":"https:\/\/wiki.edu.vn\/wiki4\/wp-content\/uploads\/2023\/08\/download.jpg","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/4\/49\/Hauptbuch_Hochstetter_vor_1828.jpg\/220px-Hauptbuch_Hochstetter_vor_1828.jpg","url":"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/4\/49\/Hauptbuch_Hochstetter_vor_1828.jpg\/220px-Hauptbuch_Hochstetter_vor_1828.jpg","height":"116","width":"220"},"url":"https:\/\/wiki.edu.vn\/all2en\/wiki14\/accounting-audit-wikipedia-the-encyclopedia\/","wordCount":4164,"articleBody":" Accounting book Until the computerization of accounting processes by states and companies, audits were carried out in view of paper accounting books. The accounting audit O Financial audit It is the examination of the information contained in the accounts by an internal or external auditor to a company, entity or state. The audits are usually carried out by the audit services of companies and states; extraordinarily are carried out by external specialized auditing companies or supranational public agency in the case of states. [ first ] \u200b Audit objective [ To edit ] Audits to public or private companies [ To edit ] The purpose of the audit is to determine if the accounts or records of the companies, entities or states comply with the accounting standards in force in each country or region and therefore are reliable and do not hide vices that could alter the general state of the company or audited entity –quisu, deficits, lack of solvency and liquidity, etc. Generally in the case of companies, it is themselves who request external audit services when they are going to perform an operation that require fidelity in the accounting results and transparency -Salida to the source, mergers, capital expansion, etc. -. Companies hire audit services with specialized companies despite the fact that many, especially large companies, have internal audit departments. [ 2 ] \u200b Audits to states and other public entities [ To edit ] In the case of the states or government entities – municipalities, local or territorial governments or states – are normally the supranational or territorial entities that require the audit to grant transfers, grant loans, facilitate investments or any other economic activity. This has happened in the field of the European Economic Community and the Eurozone during the Great Recession with Banking Rescue to Greece, Ireland, Portugal and Spain. [ 3 ] Other agencies such as the International Monetary Fund and the World Bank demand audits when they make loans or renegotiate external debt. [ 4 ] \u200b Once the procedures that the auditor consider appropriate, must issue an opinion on whether the financial statements reasonably reflect the patrimonial and financial reality of the audited entity. In each case a favorable or unfavorable opinion will be issued by the auditor. The hiring of audit services by private or public companies partially distorts their objectivity since it is very difficult for an external audit that is capable of issuing an unfavorable opinion towards the company that hires and pays it. In fact, sometimes, auditing companies are co -responsible for the situation of companies since they call out strategic plans and sometimes help camouflage negative situations of companies or entities. [ 4 ] \u200b Auditorium entities [ To edit ]  Public Auditors – Courts of Accounts and Comptrollers [ To edit ] He Court of Accounts O Court of accounts It is a type of superior inspection entity, structured as a collegiate body, responsible for supervising and judging the regularity of public accounts and financial management. Its equivalent in many Latin American countries is Comptroller General of the Republic . Courts of Accounts by country General Comptrollers International Accounts Courts Private audit companies [ To edit ] Towards the end of the 20th century there were eight large companies in the world dedicated to the audit business, known as the Big eight (In English, the “big eight”). [ 7 ] \u200b The big eight companies merged with each other to form the so -called Big five (The “Five Great”). From the disappearance of (Arthur Andersen) in 2002. Of that group the four survivors are known as the “Big Four”: Deloitte, PricewaterhouseCoopers, Ernst & Young and KPMG. To them have joined other relevant audit companies: [ 4 ] \u200b Audits and techniques [ To edit ] Normally the applicable standards for the preparation of the financial statements are those of the country where the issuing company is registered. However, on certain occasions the financial statements are made according to IFRS Standards (International Financial Information Standards) (IFRS). In addition, there are NAGA audit standards (generally accepted audit standards), which at the international level correspond to international audit standards (ISA). Audit techniques are practical research and test methods, which the public accountant uses to verify the reasonableness of financial information that will allow issuing professional opinion; These techniques are as follows: GENERAL STUDY.-Appreciation on the physiognomy or general characteristics of the company, its financial statements and important, significant or extraordinary items and items. This appreciation is made by applying the professional trial of the public accountant, who based on his preparation and experience can obtain from the data and information of the company that will examine, important or extraordinary situations that could require special attention. Similarly, the auditor will be able to observe the existence of extraordinary operations by comparing the results balances of the previous and current exercise. In addition, it serves as guidance for the application of other techniques, so it must be applied before another. ANALYSIS.- Classification and grouping of the different individual elements that form an account or a certain item, in such a way that the groups constitute homogeneous and significant units. The analysis usually applies to accounts or items of the financial statements to know how they are integrated:Balancing analysis. There are accounts in which the different movements that are recorded in them are compensation with each other; For example, in a customer account, payments, returns, bonuses, are total or partial compensation of sales charges. In this case, the account balance is made up of a net that represents the difference between the different items that were recorded in the account, where only those items that are part of the account balance can be analyzed. The detail of these residual games and their classification in homogeneous and significant groups is what constitutes the balance analysis. MOVEMENT ANALYSIS. On other occasions, the balances of the accounts are formed not by compensation of items, but by accumulation of them; For example, in the results accounts and in some compensated movements accounts, it may happen that it is not feasible to relate the crediting movements against debtor movements; Or, for particular reasons it does not agree to do so. In this case, the account analysis must be done by grouping, according to homogeneous and significant concepts of the different debtor and crediting movements that constitute the account balance. Inspection. Physical examination of material goods or documents, in order to make sure the existence of a file or a registered operation or submitted in the financial statements. Various occasions, especially as regards asset balances, accounting data are represented by material goods, credit titles or other kinds of documents that constitute the materialization of the data recorded in accounting. In the same way, some of the operations of the company or its working conditions may be protected by titles, documents or special books, in which, in a reliable way there is the record of the operation carried out. In all these cases, the authenticity of the account balance, the operation carried out or the circumstance that is to verify, by the physical examination of the goods or documents that protect the asset or the operation can be verified. Confirmation. Obtaining a written communication from a person independent of the company examined, and who is able to know the nature and conditions of the operation and, therefore, confirm in a valid way. This technique is applied requesting the audited company to address the person to whom confirmation is requested, so that he answers the auditor in writing, giving him the information requested and that can be applied in different ways: Positive.- Data are sent and it is requested to answer, whether they are satisfied as if they are not. This type of confirmation is used, preferably for the asset. Negative.- Data is sent and reply is requested, only if they are dissatisfied. It is generally used to confirm assets. Indirect, blind or blank. No data is sent and only balances, movements or any other data necessary for the audit are requested. It is generally used to confirm liabilities or credit institutions. Research.- Obtaining information, data and comments from the officials and employees of the company itself. With this technique, the auditor can obtain knowledge and form a judgment on some balances or operations carried out by the company. Declaration.- Written manifestation, with the signing of the interested parties, of the result of the investigations carried out with the officials and employees of the company. This technique is applied when the importance of the data or the result of the research carried out merits. Certification.- Obtaining a document in which the truth of a legalized fact is generally ensured, with the signing of an authority. OBSERVATION.- The auditor features in physical presence, the way in which certain operations were carried out, realizing the way in which the company’s staff performs it. Calculation.- Mathematical verification of some item. There are accounting items that are the result of computations made, on certain bases. The auditor can make sure the mathematical correction of these items by means of the independent calculation of them. In the application of the calculation technique, it is convenient to follow a procedure different from the one originally employed in the determination of the items. Purchase Auditory “DUE DILIGENCE” [ To edit ] In the case of mergers and business acquisitions, the buyer part needs to know in detail the status of the company to acquire. The basic function of the purchase audit or “Due Diligence” is to value the assets and debts of the target company, investigating the significant aspects of its past, present and future predictable. He due diligence It allows to evaluate the company underway, value its assets and liabilities, to know its legal aspects such as contracts and statutes, compliance with current legislation, registered trademarks, intangible assets, determine the contingent risks of the business, current and potential judgments and determine the existence of hidden, real or potential liabilities. Also evaluate intangible assets such as human capital, knowledge, business culture, leadership capacity, etc. As a result of the work, a report is made with comments and observations that will serve as a basis for the negotiation of the final agreement on issues such as potential contingent risks, guarantee clauses, etc. The cash flow statement. It is a state that informs about the use of monetary assets representative of cash and other equivalent liquid assets classifying the movements by activities and indicating the variation of said magnitude in the exercise Other types of audit [ To edit ] When the use of new technologies was generalized, the need to conduct audits on information systems also emerged. In this sense, it could be said that the computer audit includes the set of activities aimed at the validation and verification of the systems, processes and results in which automated technologies are used, either in compliance with the legislation, as a guarantee of integrity and Correctivity of the information provided by a system or by alignment with certain standards related to the good use (best practices) of the systems. [ 8 ] \u200b Tax audit [ To edit ] It is responsible for the review and verification of the taxpayers’ taxes of a country. It is of the utmost importance, since it makes possible the entry of money to the state of a country so that it can fulfill its functions and obligations. Fiscal Audit Process [ To edit ] There are two types of fiscal auditors: those of the State, or public, and individuals. [ 9 ] \u200bThe basic actions of public auditors are: Look for all those who are obliged to register as taxpayers, in order to expand the universe of those who contribute to public spending. Identify that taxpayers present, and that others do not, the declarations of taxes in a timely manner, as provided by law. Watch that those taxpayers who meet the presentation of their statement include reliable information, in this way the evasion of taxes is avoided through data not attached to reality. Recovery or collection to the taxpayer who declared faithfully but who have not settled their debt. [ ten ] \u200b The process of a particular audit is to review the information provided by the company’s accountant, identify the problems and design a solution that the accountant will make, re -check the detected failures and, finally, issue a fiscal opinion with the result. Background of the Fiscal Audit [ To edit ] In its most primitive form, the fiscal audit arises when a company or people dominates another, imposing the payment of a tribute. The dominant people require that these taxes be paid in a timely manner and designates an organism that is responsible for monitoring this. This is how what we know today arises as fiscal audit. In America, the entry of most countries to accounting and modern audit occurred at the end of the 1930s, when the United States public counters associated with counters from Mexico and other Latin American countries to audit the transnational companies . The principles of the American Institute of Certified Public Accountants were adopted and over time they developed their own accounting technique.In Mexico, the Mexican Institute of Public Accountants was created, between 1956 and 1976. [ 11 ] \u200b Perception [ To edit ] Generally, the fiscal audit implies a discomfort for the taxpayer, regardless of whether he made the payment of his taxes or not, because he removes time and requires a large amount of procedures, however, one must havein account the importance of this activity for any society. Bibliography [ To edit ] 1986 – Mark Stevens, The wars of auditing companies: how they fight for clientele, money and survival , Editorial Planet, 1986, Espa\u00f1a, ISBN 84-320-7879-42004 – Santillana, J., Auditor\u00eda Fundamentos, Primera Edici\u00f3n, DF, Mexico, Thomson2007 – Oswaldo Fonseca Luna, Modern government audit , Peru, Isbn 978-9972-2948-0-8 See also [ To edit ] References [ To edit ] \u2191  From the accounting audit to the Communications Audit , Claudia Rita Cerezo, notebooks of the Center for Studies in Design and Communication. Essays, ISSN-E 1668-0227, No. 45, 2013  \u2191  Auditors and market confidence , Bolsa de Madrid, 2003, Pilar G\u00f3mez  \u2191  The rescue business. Who benefits from bank rescues in the EU? , February 22, 2017, TNI, at Tni.org  \u2191 a  b  c  The audit cartel and the 235,000 million euros lost , La Marea, February 22, 2017, Jos\u00e9 Bautista  \u2191 a  b  \u00abU.S. GAO – Our Seal\u00bb . Gao.gov. September 29, 2008. filed from the original April 12, 2018 . Retrieved on September 2, 2013 .   \u2191  Office, Australian National Audit (12 de Mayo de 2016). \u00abAuditor-General and the Office\u00bb . www.anao.gov.au  (in English) . Retrieved on May 17, 2016 .   \u2191  Wars of auditing companies how they fight for clientele, money and survival , Mark Stevens, Editorial Planeta, 1986, Spain, ISBN 84-320-7879-4  \u2191  \u00abAuditor of information systems\u00bb .   \u2191  Audit notes   \u2191  Santillana, (2004), p. 27)  \u2191  Santillana, (2004), p. 42-48  external links [ To edit ]     "},{"@context":"http:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https:\/\/wiki.edu.vn\/all2en\/wiki14\/#breadcrumbitem","name":"Enzyklop\u00e4die"}},{"@type":"ListItem","position":2,"item":{"@id":"https:\/\/wiki.edu.vn\/all2en\/wiki14\/accounting-audit-wikipedia-the-encyclopedia\/#breadcrumbitem","name":"Accounting audit – Wikipedia, the encyclopedia"}}]}]