Journal of Accounting and Management Information Systems (JAMIS)

Procedures used in qualitative and quantitative valuation of financial audit tests

11-12/2005 ,   p32..39


Keywords:   financial audit, audit tests, assurance in audit

The paper consists in two main chapters, «Financial audit – research area for financial statements» and «Audit tests – methods, techniques and used procedures».
The author states the general audit framework, the exposition presenting the importance and the relevance, as well as the influence of the up mentioned above fluency of an enterprise activity, as showed in financial statements. Recognized as a researched area, the financial audit represents a great amount of directions of general interest. It’s a various domain of research as well as for the investors, clients, government, employers and employees and other entities that are directely interested in the activity and integrity of financial auditors. The auditor opinion consolidates the credibility of financial statements, offering a relative high assurance but lacks the absolute. It’s practically impossible to obtain an absolute assurance in audit in what concerns the financial statements and this is due to an amount of objective agents : the use of tests, professional sense, survey and some inherently limits of general and internal control.
Like wise, the author opinion is that today, when trades took an overwhelming measure at a global level, it’s necessary that the auditor should use mathematical techniques and methods such as statistics and econometrics, for to achieve the purpose of objective - criteria that the management has settled.