Subsequent events, called so because they are recorded after the closing date of financial year, must be recorded and taken into account in drawing up the financial statements. Some of them can fundamentally changing financial position of the entity or provide information to users absolutely...

This article aims to identify and illustrate the inherent limitations of an engagement to perform agreed-upon procedures regarding financial information by starting from an audit mission to perform agreed-upon procedures seeking, on one hand, to determine with the help of the financial...

Standard IAS 1 Presentation of Financial Statements requires disclosure of allsignificant accounting policies used in preparing the financial statements. It also indicates thebusiness continuity assumption as one of the basic principles of all aspects of the accountingpolicy applied. Therefore,...

The evolution of internal auditing in the last period was a very dynamic one, being affected by the increasing attention for its role in corporate governance, especially because of its links with internal control and risk management systems. Internal audi

Auditors use professional judgment to collect and evaluate evidence to issue an opinion on the fairness of a business entity’s financial statements. Prior research finds that international auditing firms should consider cultural aspects when planning an audit examination and that the...

The usefulness of generalized audit software in increasing both the efficiency and effectiveness of audits has been well recognized. Consequently, there has been an increasing trend especially during the past five years towards incorporating audit software into the chapters of many of the...

Noticing that notions such as „control”, „audit” and „review” are „readily” employed in the field language of daily occurrence, as well as in specific regulations, we felt the need of expressing a personal outlook regarding their area of activity. Considering this background, we...

The concept of fair value was subject of many debates and disputes in recentyears. These debates have focused mainly on the relevance of the concept, but also on thepractical difficulties in determining reasonable estimates, raising particularly the interest ofpractitioners in terms of...

Our research intends to present a literature review on studies regarding theaudit fee and its cost behavioral in relation to the audit process. The purpose of the paperis to enhance and synthesize the main results of auditing research literature impendingaudit fee approximation. Hence, our...