Similarities and differences between statutory audit
and performance audit
13-14/2005 , p192..196
Author(s):
Gheorghe Adamescu
Doina Crisan Habean
Doina Adamescu
Keywords:
statutory audit, performance audit, audit standards, efficiency, evaluation criteria
Abstract:
A statutory audit can be used to assess the general "legal health" of a business. It can also be tailored to very specific areas of concern, such as federal and state tax liabilities, employment law problems, and hazardous waste issues.A performance audit is an objective and systematic examination of a public sector organisation’s programme, ac tivity, function or management systems and procedures to provide an assessment of whether the entity, in the pursuit of predetermined goals, has achieved economy, efficiency and effectiveness in the utilisation of its resources. Analyzing the financial audit comparative with those of performances audit, similarities and distinctions results, which can be classified depending on: audit standards, audit matter, evaluation criteria, nature of audit sample and approaching modes.
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