lunes, 26 de septiembre de 2011


Manuel Orta Sierra William and tell us that "The financial audit is a complex process whose end result is the release of a report that a person, which is denonima auditor expresses an opinion on the fairness with which the company accounts express the true picture of its assets, its financial position and results of operations and the funds obtained and applied in the period under review "

On this definition, the author focuses clearly on whether the process for conducting a financial audit is very labor intensive and broad approach and occupation while the work is concerned, and that after a hard single up the process so you get as a result a final report which the auditor expressed their respective views on the fairness of the financial situation of the company.

Also on this subject can say "To consider the audit as a systematic review of the financial statements and related transactions records to determine adherence to generally accepted accounting principles, policies or management requirements established"

In opposite to this definition before the author sees the audit as a systematic review which is governed by a system or process to develop the audit based on generally accepted accounting principles and legal provisions which affect the development of financial statements and records and transactions related to the company.
Another definition to consider is that "audit in its widest sense can be defined as a critical research to arrive at certain conclusions on the economic organization"

In this new concept the author makes no reference to financial audit in a large broad concept can be defined as a critical research as critical by those which have to be properly sustained the auditor chose to make relevant conclusions about the proper of the company.

The audit objectives should be very important so some opinions about the goal is that "The financial audit aims to review or examination of financial statements by a public accountant who prepared than the accounting information and user , in order to establish its reasonableness, giving the results of its review, to increase the usefulness of the information has "

The ultimate goal is an analytical review of financial statements by a process which must be made by a public accountant who has to be completely outside the company for you to make the reasonable opinion of the financial statements so that they can increases the usefulness of the information that these states already have.

Another author classifies financial audit objectives as follows:
 Try to increase the usefulness of accounting information.
 aims to determine the degree of business management executives deployed
 Identifying the business needs of their servers "

The author classified in this way will refer mainly to the financial audit will give an extra degree of confidence in the preparation of financial statements and that through the process will be known if there was a good business management in the company part of the same executives and also to identify the company should have to their servers.

Also "The financial audit aims to review or examination (proof or evidence left to support technically working papers) of the basic financial statements by an auditor other than the financial data and prepare the user for the purpose to establish their reasonableness, and to publish the results of their examination by an opinion or opinions to increase the usefulness of the information has "

Much of the way has the author wanting to endorse the audit's main objective is to make a review in which shall be recorded by means of evidence left in the working papers that the financial statements due to the continued reasonableness of results through the report of the auditor to deliver at the end of their work which will increase the usefulness of financial statements.

On the other hand "The goal of a regular review of financial statements by an independent auditor is the expression of an opinion on the adequacy with which they present their financial position, results of operations and changes in financial position accordance with generally accepted accounting principles "

In this paragraph the author to see a different view should have the independent financial auditor to tell us about their position in the regular review which should be made based with accounting principles generally accepted in the time to express their respective report which may disclose relevant information on the financial statements.

Another important opinion is that "The main objective of an audit is to express an opinion on the reliability of financial information contained in the Annual Accounts. In this regard, SAS No. 1 [AIC73] states that the expression of an opinion on the fairness with which information is presented financial condition, results of operations and changes in financial position of the company, in accordance with the generally accepted accounting principles "

The author points out clearly that the fundamental objective of financial audit is only to express a consistent view about the reliability of economic and financial information contained in the annual accounts, which is why even in SAS No. 1 states that the expression of opinion on the financial information on all accounting events that occurred in the company.

The financial audit is a complex process as some authors may be defined and this requires further steps to the process and that is how you can say that "The audit process covers all tasks related to the audit from authorized and initiation to the issuance of the respective report

The phases of the audit process are:
Authorization and planning
Building rapport
Review meeting report and comments
Issuance of Report "

In this context, we can clearly see is classified as audit procedures beginning with an authorization from the board in planning by the audit team, then the field where they collect all relevant information which prepare the relevant report which may be revised and subject to comments to finally present the final report where they found the auditor's opinion.
Another author gives a similar view on the process by saying that "The first audit technique that applies in any audit is called general study, which is the main approach to ensure consistent quality. This approach is based on the attainment of knowledge of business and industry in which it operates which must be applied with care and diligence, so it is recommended that your application is carried out by an auditor training, experience and maturity, to ensure a strong and comprehensive professional opinion.
The structure and the most relevant aspects of this approach are 1) run pre-work activities, 2) make a preliminary planning, 3) know the practical use of evidence relating to apply, 4) assess the risk and internal control, 5 a) develop a global plan of audit; 6) develop the audit plan; 7) execute the audit plan, and 8) concluding and reporting. "
In a different way the author wants us to realize their focus on the audit procedures to evaluate basically stress and risk and internal control, this is very important in the process of a financial audit as it is on this factor to be able to redeem the various observations and recommendations that the auditor's report and translate it will be free option for the management of the company executive or not.
A more brief on the same subject says that "Some basic procedures can be directly related to the process of organizing the audits. These include data collection of permanent records, evaluation of internal control systems, designing audit programs and preparation of all working papers "
This opinion is a bit different from the others but is confirming that an important point in the process of a financial audit is the evaluation of internal control systems which must be initiated from the file's data collection and subsequently by permanent programs and audit working papers which will be the mainstay of the audit.
Otherwise, you can say "An audit procedure is something to be done. Is, courses of action are available for an auditor to assess the adherence to standards and the validity of applying the principles. "
Another thought is that we embodies the author in his way to see the financial auditing procedures as we try to say here are courses that must be followed so that later the auditor to judge objectively and sufficient financial statement which made under the application of generally accepted accounting principles and international accounting standards.
The financial audit as a complex process must be guided through a program which is followed by the financial auditor, a definition about it is that "It is a detailed outline of work to do and the procedure for running a specific audit."
The author is very short in order to let us know your opinion on the financial audit program and that the plasma is a specific outline and / or detailed on which the financial auditor perform work based on key points which were made to to run the type of audit to be working.
Also "The audit program has been defined as a statement, logically ordered and classified, the audit procedures to be used.
In this conception of the financial audit program, the author brings out a different concept than saying that the program itself is a statement logically ordered and classified in which the financial auditor will have to follow every detail to meet the objectives in the financial audit in this way can develop a good process.

Another definition is to take account on a financial audit program says that "a review process is planned with flexibility and are of two types:

 A detailed outline plan and determined in advance for each audit practice.
 A progressive form or a brief indication of the extent, nature, objectives and constraints of audit.

The audit program is the core to execute the financial audit, and that is where the parameters are set to perform the whole complex process that has the financial audit, no audit process would not have a way forward and results to be issued at the end of the process could not contain the expected results to verify the reasonableness of the financial statements.
Another author also refers us to say that "programs greatly facilitate the audit organization. The organizational features can be seen in the basic benefits that are attributed to programs and in different types of them that are in common use. "
In this view of audit programs other author gives his opinion saying that the programs are very useful as it greatly facilitates the organization and process audits to show that the basic advantages to make a broad approach to the audit to be carried out to obtain the end of the process an objective opinion on the financial statements.
Another view says that "The audit program serves as a set of instructions to assistants involved in the audit and as a means to monitor and record the proper execution of work. They may also contain the audit objectives for each area and time with a budget of estimated hours for different areas or audit procedures "
The author tries to say differently to the previous audit the program are a set of instructions to assistants involved in the financial audit and way or means to control and record the successful execution of audit work there Also included in the audit program objectives for each area of ​​the organization and the time was made.
The financial audit is performed in an external audit by this author defines it as follows: "Also known as an independent, traditionally focuses its work to the financial statements in order to render a verdict or decision on its reasonableness, giving credibility The analysis of these to a professional outside the company that prepares, who once studied and evaluated are certified "
When we speak of the external audit says the author is also known as the independent audit because they are made by people outside the organization also says that it is focused specifically on the financial statements and see their reasoning for that after all the process issues its verdict or opinion which should be evaluated so that it can keep better final process.
Another author also believes saying "The external audit is more known than in-country since that is practiced by officials of the lending institutions from making long"
The author suggests in this little comment from the external financial audit is definitely much better known that the internal audit and external financial audit that is much more practical and / or used by officials of lending institutions to evaluate managing a company through its audited financial statements so you can see the economic and financial situation.
The financial audit process captures her worksheets by what one author defines it as "working papers are the written record of the auditor, whose findings are the basis of the views reflected in the audit report. The auditor works with customer-owned documents. The review and inspection procedures applied are reflected in the working papers "
An opinion on the working papers to be taken into account is the one made by the author basically tells us that the papers are and will be the support of all the work and financial audit process, such working papers be developed based on tangible documents owned by the customer or the organization, working papers are subject to the audit and the type of audit being performed.
The financial audit gives many complex processes by which they must pass, but his look are very important as each review process is an important point in the company for the company's internal control is the most optimistic. This is also compounded by the financial audit will influence the subsequent management of the company since the issuance of the reports will constitute a useful tool for determining the reasonableness of the financial statements and subsequent decisions.

Bibliographic Sources
ADRIA Angel Fernando, "Library accounting practice", pp.7, Limited Editions, Spain 1987
ADRIA Angel Fernando, "Library accounting practice", pp.7, Limited Editions, Spain 1987
John R. BOCH and Arthur M. Vitale, "Balance, Audit and Control" Volume II, pp.241, Oxford Bach, Mexico 1981
CERVA BRAVO Miguel H., "comprehensive audit", pp.143, Editor Fecal, Peru 1998
J. Cashin, P. NEVWIRTH and J. LEVY "Audit Manual" Vol 1, pp.4, Editorial Prentice, Mexico 1998
Estupiñán Rodrigo, "Working Papers in the financial audit", pp.5, Editorial Roesga, Colombia 2004
MASTER FERNANDEZ, Adolfo, "Audit I", pp. 31, Cultural Issues, Spain 1996
Santiago GARCIA ECHEVARRIA, "Introduction to business economics", pp. 155, Ediciones Díaz de Santos
GRIINAKER Robert L., "Auditing: A review of the financial statements", pp.382, Editorial Cor, Mexico 1997
Bertrand L. Hansen, "Quality Control: Theory and Applications", pp.386, Ediciones Díaz de Santos, 1989
HUERTA Juan José, "Business Management", pp.7, Editorial Anesi, Colombia 2001
Mussons SEALS, James, "The enterprise and competitiveness," pp.63, Ediciones UPC, 1997
PALOMINO A. Theodosius, "Workers of confidence," pp. 5 Juris Editorial Labor, Peru 1989
PALOMINO KUNUPAZ Antonio, "Management and quality management company," pp.33, Editorial Vas, Peru 2000
BERMUIDEZ PEÑA, Jesus Maria, "Audit, Control and comptroller," pp.71, OSCE issues, Colombia 1993
RUIZ PEREZ GONZALES MANDEDO Manuel and Henry, "Technological innovation and its management" pp.33, Marcombo
Dominick Salvatore, "Economics and Business", pp. 15, Editorial Interamericana, Colombia 1992
SIERRA, Guillermo and ORTA, "Manuel said. Theory of Financial Audit. " pp.2, Editorial ACFE, España.1996
ANI Ugaz, Carlos, "Basic Audit" pp.14, Editorial Mantaro, Peru, 1996