FINANCIAL STATEMENTS – OBJECT OF THE FINANCIAL AUDIT
-
Authors:
• Emilia VASILE, email: rector@univath.ro, Afiliation: Athenaeum University, Bucharest, Romania
• Ion CROITORU, email: ion.croitoru.ag@gmail.com, Afiliation: Atheneaum” University of Bucharest, RomaniaPages:
• 51|58 -
Keywords: financial audit, financial auditor, financial activity, financial information, audit risk, financial statements, users of financial information
-
Abstract:
Financial information is useful both inside the organization (management) and outside it (customers, suppliers, creditors, banks, investors, etc.), which plays an important role in making financial, managerial decisions and the development of a business. Currently, the demand for relevant and real financial information is increasingly stringent, and access to correct and relevant information is in many cases hampered by misreporting. The financial statements must present a true and fair view of the assets, liabilities, financial position, financial performance, cash flows, results of the management of the resources and the profit or loss of an economic organization. The purpose of the financial audit is to examine the financial statements of an organization and to express a responsible and impartial opinion on the true and fair view, ie whether all transactions and economic transactions underlying the recording of information in the financial statements are accurate and consistent. the legal provisions in force. In this regard, the financial audit is responsible for providing management information to the organization to assist it in making decisions and optimizing them, to evaluate the operations and economic transactions carried out by the organization and to implement corrective measures to eliminate existing malfunctions, as well as to to issue an opinion on the reality of the financial statements issued by the organization.
