Get to know the details of carrying out the accounting audit, one of the auditing specialties, which is defined by technical procedures and activities applied to the company examined with the objective of ascertaining whether the accounting records demonstrate the operationalized reality. Through auditing tests, generally carried out by sampling, the auditor identifies elements that will help him to ascertain the analysis, in order to finally express his opinion. Through auditing tests generally carried out by sampling, the auditor identifies elements that will assist him in determining the analysis, to finally express his opinion when carrying out the accounting audit.
Although boosted in Brazil a few decades ago, after the arrival of branches and subsidiaries of large corporations and investments of international companies in Brazilian companies, Carrying out the accounting audit is under development in the country, mainly due to the tax aspects of Brazilian legislation.
On the other hand, the opening of capital and the search for foreign markets increasingly drives the need to align with accounting standards, making the professionals who carry out the accounting auditing always be aware and technically up to date.
What is the auditor's role in carrying out the accounting audit?
The auditor is the professional responsible for the examination and validation of the company's accounting activities. It will analyze procedures, point out irregularities, and prepare reports from accounting auditing , expressing your opinion as a professional in the field.
In addition to following the changes and updates in national and international accounting standards, in Carrying out the accounting audit professionals need to invest in obtaining knowledge of all areas of the company they serve, since both a minor change in regulations and a change in operations can directly affect the company's operations.
This vast field of auditing requires specific training from professionals, and in Brazil the Carrying out the accounting audit can only be taken by Bachelors in Accounting who have duly passed the Federal Accounting Council (CFC) exam and registered with the Securities and Exchange Commission (CVM).
Another mandatory requirement for the professional of accounting auditing, especially those who must work in companies regulated by the CVM, BCB and SUSEP, pass the Technical Qualification Exam, regulated by the Brazilian Accounting Standard NBC PA 13.
The professional who works at Carrying out the accounting audit is constantly updated, following the requirements of the Continuing Professional Education Program, which is regulated by NBC PG 12. For professionals registered in the National Register of Independent Auditors (CNAI), constant updating is also required.
It is a fact that accounting auditing has been gaining increasing space and importance, mainly due to the effects of globalization, so that the demand for professionals in the field increases proportionately. Not only professionals updated in legal aspects, with theoretical and practical qualifications, but also with ethical conduct in the exercise of the profession.
What is the difference between accounting and accounting auditing?
A accounting And the Carrying out the accounting audit they are essential business functions that, although with distinctly different concepts, can be interrelated. Companies must set up a system of accounting Before opening its doors to manage and record financial data, but accounting auditing it may also be essential to monitor and improve practices and credibility in information. Understand the definitions of accounting And accounting auditing , as well as the correlation between the two, is vital for understanding business finance.
A accounting is the systematic process of classifying, storing, and presenting a company's financial data. Accountants keep complex records of all financial transactions, including recognition of sales income and expenses, as well as costs, such as payrolls and taxes. The accounting cycle begins with transaction receipts and other original financial documents. Accountants make records of all financial events in individual accounts, most often using a accounting . Using the information stored in the company's accounts, accountants routinely prepare financial statements, such as balance sheets and income statements, to provide internal and external stakeholders with information relevant to a company's financial condition.
A Carrying out the accounting audit is the process of reviewing and researching any aspect of a company, financial or non-financial. Auditors are fully trained to detect areas of need for improvement, potential hazards, and incidents of unethical conduct in their area of expertise. Accounting auditing can interrupt the normal flow of business in a company, but the ability to detect and address potential weaknesses can overcome any temporary productivity losses. Among the various issues, accounting auditing You can review human resources policies, operating procedures, quality or safety policies and, of course, all types of information generated by accounting .
A Carrying out the accounting audit combines these two distinct concepts and can convey significant benefits for both small and large companies. Uma accounting auditing , by definition, is a systematic review and investigation of the policies, procedures, and systems implemented to record, store, and present financial data within a company. A accounting auditing covers the entire range of the accounting cycle, seeking inconsistencies, inefficiencies, errors, and incidents of unethical conduct at every stage of the process. A accounting auditing begin by analyzing the systems implemented to ensure that the department of accounting receive all transaction documents in a timely manner. A accounting auditing Review the system of accounting in depth to ensure that all necessary accounts are present and maintained accurately. A Carrying out the accounting audit it also reviews the financial statements and the processes used to prepare financial statements.
How is the Accounting Audit carried out
Transparency and reliability are some of the characteristics that make a company stand out in the market. Thus, investors need to know about the real financial and economic situation of companies, and entrepreneurs need to know if their company is complying with accounting standards. To meet this need, work is carried out on Carrying out the accounting audit , which systematically examines the company's financial records.
The main purpose of accounting auditing It is to analyze whether the information contained in the financial statements correctly reflects the financial, and economic position of the audited company, combating fraud and preventing irregularities. The information that the accounting auditing provides are secure and transparent, making it possible to identify flaws in the company's financial operations.
The process of Carrying out the accounting audit is guided in accordance with Brazilian guidelines and standards, starting with a meeting of the auditing team, which will choose the best strategy and specify the working procedures that will be adopted to obtain evidence, according to the most appropriate criteria for each area. At this stage of accounting auditing , it is very important that the auditor has a preliminary understanding of the company's operations and the business in which it operates.
Once the work strategies have been defined, accounting auditing collects information and documents from the company. In possession of this information, the auditor will basically apply tests to achieve the transparency of the accounting records. However, before the testing phase, accounting auditing documents in detail the company's entire accounting system, as well as its respective controls, with the objective of detecting significant points that strengthen or weaken the system.
In the testing phase, the objective is to determine if the controls are being complied with in accordance with the regulations and to verify that the controls established internally actually work and, if so, if they work according to the prescribed rules. This phase of Carrying out the accounting audit involves steps such as: verification of financing and loans, verification of the existence of inventories, income and expense tests, cash and bank tests, verification of tax payments, among others.
In the next phase, of the substantive test, accounting auditing performs procedures to verify the accuracy of the amounts entered in the accounting records. It then analyzes the results obtained in the tests and assesses whether they are adequate with the financial statements and explanatory notes. The audit opinion is then drawn up by the auditor in accordance with Brazilian accounting standards.
The audit opinion is the final product of Carrying out the accounting audit , which indicates whether the company's financial statements actually comply with prescribed standards and legal aspects. This opinion of the auditor is what certifies that the company is adequate to the laws and regulations, as well as records the existence of fraud, if appropriate, in addition to confirming the real assets of the company.
A accounting auditing it usually happens by force of law and regulatory bodies, but it can be requested spontaneously, both by public and private companies. The auditor's opinion strengthens the company with its partners, shareholders and investors.
Advantages of Accounting Auditing
There are several types of auditing, but one of the most sought after is Carrying out the accounting audit , which meets legal requirements in some cases, but is also important in cases of acquisitions, mergers, or business dissolutions, as well as for decision-making purposes.
The purpose of accounting auditing consists of verifying, through the analysis of the accounting records, the accuracy of the assessed assets. After this analysis, the accounting audit presents any errors or irregularities (frauds) found and provides suggestions for immediate measures and/or improvements in the processes, depending on the events presented.
A Carrying out the accounting audit it is carried out using techniques and procedures, which create possibilities to identify those possible errors or irregularities that may exist in the entries contained in the financial statements, as well as the recognition and validation of the asset components.
In addition, the accounting auditing it is a powerful source of information for investors, since it allows, through conferences and analysis of accounting records, to transparently validate the company's “health”.
The management of the audited company also has the benefits of accounting auditing , since it receives, in addition to the opinion on the appropriateness of the financial statements, suggestions for improvements in operations and tips for obtaining updated information that adds to decision-making.
The benefits of accounting auditing are reflected in society, promoting the credibility and veracity of information, which contributes to the stability of companies and, consequently, the guarantee of jobs. The Tax Authorities also benefit, because Carrying out the accounting audit contributes to the correct compliance with tax laws.
Many other benefits stem from carrying out accounting auditing , for this reason, not only publicly traded companies that are required for legal purposes, but other companies choose the service, as they see it as the search for transparency and improvement of their image in the market, in addition to presenting accurate and detailed information to their partners, increasing credibility.
A accounting auditing is carried out by an independent auditing firm or auditor, which, in addition to reviewing accounting information and validating the reliability of the records, also reports irregularities or failures in operations, when necessary, especially if these occurrences affect the financial statements. Uma Carrying out the accounting audit In addition to independence, quality must have objectivity, clarity and impartiality.
Results obtained in the Accounting Audit
Na accounting auditing the financial situation of a company is verified, verifying the accuracy of the accounting records and the efficiency of internal controls. However, the Carrying out the accounting audit , in addition to benefiting the company in the financial, economic and asset sectors, reflects positively in other areas, such as administrative, fiscal, technical and social.
Since in accounting auditing the professional will record their opinion about the company's real financial situation, it is an essential service for the entrepreneur, as it will make them aware of possible errors and irregularities, also suggesting the respective solutions.
Brazilian legislation makes accounting auditing mandatory for some companies, such as financial institutions, publicly traded companies, consortiums, and health plans. However, unless legally required, the process of Carrying out the accounting audit it is also highly sought after so that entrepreneurs can see if the company is achieving its objectives and/or detect if there are frauds or flaws in the processes.
In one way or another, the accounting auditing it will always benefit management, since the critical and detailed eye of the specialized professional is a major differential in verifying the company's credibility and security, in addition to helping to guide decision-making.
It is important to note that, although performed by a trained and specialized professional, there are also limitations in Carrying out the accounting audit . Notes may appear outside of accounting, asset control, or other areas assigned to the service. In such cases, other professionals must be involved.
Thus, a report from accounting auditing may provide confirmation of the consistency of the company's accounting operations, in which they are in compliance with accounting standards, but it may also show the existence of errors or fraud, causing flaws in internal controls.
They are considered errors by accounting auditing , cases in which the irregular practice was not intended. Fraud, on the other hand, is characterized by intentional action, such as falsification of documents or omissions of accounting transactions. In this case, the Carrying out the accounting audit Record the communication directly to the company, respecting professional secrecy and recommending appropriate measures.
When choosing to carry out the accounting auditing , partners and shareholders will obtain detailed information about the company's real economic situation, as well as about the efficiency of its internal controls. In addition, the accounting audit helps the company by increasing its credibility with banks and suppliers, as well as being valued by potential investors.
Get in touch with TATICCA , which operates with integrated services of 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 professionals with extensive experience in the market and has certified methodologies for carrying out activities.
