It is common to notice the auditing accounting and financial being treated as if they were one. However, there are some differences between them, especially with regard to their object of assessment. Basically the auditing accounting assesses the appropriateness of the financial statements, while auditing Financial assesses financial controls, whether accounting or operational.
The practice of auditing Accounting leads a company to have transparency and credibility, providing security to partners and shareholders. In addition, the company also benefits by adjusting accounting processes to international standards and adjusting its internal controls, in order to prevent inconsistencies and irregularities.
Already the auditing Finance focuses on the routine of the financial management area, it is an examination of the activities carried out in the finances of a company. In addition to validating financial balances, it also analyzes whether the financial investments made by the company are being made in an efficient and profitable manner. Among the benefits of financial auditing, we can mention the guarantee of validating the balances of bank statements, accounting records, and cash flow, with physical values. Thus, it is noticeable that although both auditing processes go hand in hand, they have some differences.
Currently, the auditing The financial sector has been growing and gaining more space in the highly competitive market, because management tools help a lot in making decisions for the company's growth. This is because financial auditing helps to minimize or even eliminate possible inconsistencies or fraud, in addition to controlling resources and evaluating conduct.
There are two types of auditing financial: internal and external. The first meets the needs of the company's management, the second attests that the company follows good governance practices. Today, the market increasingly tends to give credit to a company that adopts auditing as part of its organizational processes, as it understands that this increases the reliability of the information.
To carry out a auditing financially, a few steps are necessary. The first stage is the mapping of processes, identifying and classifying financial processes such as cash flow, collection, payment from suppliers, statements, and bank reconciliation.
After this stage, auditing Financiera takes care of identifying risks in these processes, pointing out flaws or inconsistencies that do not follow accounting standards. The identification of internal controls comes next, to identify the possible impacts on financial processes and try to minimize those impacts. In this stage, reports, spreadsheets, contracts, subscriptions, conciliations, systems, and others are analyzed.
Finally, internal controls are tested and the results are analyzed. In the tests, which are based on specific techniques, auditing financial measures the security levels of the procedures and puts each internal control to the test. Techniques such as observation, questionnaires, physical exams, and validation are used at this stage. Analysis, on the other hand, is the obtaining of evidence based on the application of these techniques. At this level, the auditor identifies whether the procedures are being performed correctly or not, in addition to suggesting improvements for correction through a report.
It is important to consider that auditing financial will bring more credibility in the market to your business and will guarantee success and continuity. It is recommended that the auditing be accompanied by an accounting audit, which validates whether the accounting balances correspond to the company's financial, economic and financial position. Currently, companies with management in high stages of maturity adopt the practice of auditing financial, because they understand the benefits it brings to the organization.
Contact TATICCA — ALLINIAL GLOBAL, which provides integrated auditing services, internal auditing, accounting, taxes, corporate finance, financial advisory, risk advisory, technology, business consulting and training, for more information, at www.taticca.com.br or e-mail taticca@taticca.com.br and learn more. Our company has certified methodologies for carrying out activities.
