NEW PERSPECTIVES FOR IMPROVING THE QUALITY OF AUDIT MANAGEMENT
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Authors:
• Larisa Roxana MANEA, email: larisamanea@yahoo.com , Afiliation: University of Valahia, Targoviste, Romania
• Alexandra BRATU, email: alexandrabratu@gmail.com, Afiliation: University of Valahia, Targoviste, RomaniaPages:
• 44|54 -
Keywords: audit, risk-based approach, quality management standards, control quality, IAASB
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Abstract:
The audit mission is, first of all, depending of the quality management standards developed at the level of each audit entity (private or public sector). This is a reality, internationally recognized. In this area, the IAASB addresses an ever-evolving and increasingly complex audit ecosystem, including the growing expectations of any interesting party and the need for proactive and adaptable quality management systems. This article makes an comparative analyze for the actual changes on the international audit quality approaches - the international standard on quality management ISQM 1 “Quality management for firms conducting audits and reviews of financial statements, as well as other assurance and related services missions” that will replace the current international standard on quality control ISQC 1 “Quality control for firms conducting audits and reviews of financial statements, as well as other assurance missions and related services”. The results are a likely image of the necessary steps to be taken in the near future for all the entities involved in audit area, especially for a good understanding and implementation of the regulations.
