Strengths and weaknesses of auditors
An auditor is a person with capacities to analyze, review, examine and evaluate the information provided by an entity, whether public or private verifying and checking transparency as well as the veracity of the documents provided by the entity for the auditor’s review, Once these documents have been reviewed, the auditor will write a report and issue a trial, whether favorable or not depending on the analysis carried out above and the situation in which the company is.
When talking about documents, reference is made to the financial statements which reflect the operations carried out by the entity as well as its productivity.
It should be noted that the auditor must have certifications, whether these university titles that support and accredit him as a person with the ability to audit.
At present it is common to see or have trained personnel in this audit branch since its demand in the country is very high because the audit process is carried out regularly in the entities, whether they are monthly, semiannual orannual depending on the rules established by the company and by the Superintendence of Companies. For this, there are different types of auditors that focus on the needs required by the company, there are internal and external auditors which are responsible for verifying that the information provided is consistent with the official documents with the only difference between them is the dependence and independencerespectively, there are also operational auditors which have the power to increase the performance of technical and administrative personnel as well as improve the use thus and productivity of machinery. There are government auditors who focus on the legal, they are responsible for finding irregularities, in the same way, they submit entities to comply with this legal standards determined in health, safety, food security, in environmental matters, betweenothers. Informatics auditors, getting controls to the programs used by each entity to register the financial statements, must update them as well as adapt them to the new requirements that they require necessary.
Over the years, thanks to the experiences acquired, the professional either in audit or in any other career has been gaining skills and strengths in the same way discovers their weaknesses and creates competences, it must be kept in mind that all these factors canhave in common but can also be divided according to the specialty of each of the auditors.
In the course of the module, four different specialties have been addressed, which will be detailed as well as addressing their strengths and weaknesses between them are:
The Quality Management Audit determines the effectiveTime, improves quality and generates that companies are introduced into a broader competitive market, one of the greatest weaknesses that an auditor in quality management has is the recession of people before a world that constantly changes, attitude and mentalityof people can be a gap or stone towards new opportunities.
The internal audit is responsible for expressing the results of the company’s analysis to its superior command, in the same way this can give an opinion so that the authorities make a decision, this is not mandatory and responds to the individuals of eachentity. Some of the advantages of this type of auditor is that it has total access to all the documents that the company prepares, if it will be before a ruling, it can be corrected immediately, one of the strengths is that the auditor knows thestaff and businesses that the company performs in the same way, can focus on the objectives of the same. If the auditor does not have its founded values, it can fall into fraud, this is a large weakness today since corruption exists not only in our country but throughout the world;Another weakness could be considered the fact that the company only asks for audit once a year in this case if any fraud was discovered could not be corrected on time and it would be a waste of time for both the auditor and the entity.
The external audit as well as the internal have almost the same approach to the difference that this analyzes the documentation that the entity provides and with it issues a report that is useful for it, based on this the entity decides whether to continueThe Council or not, the external auditor must be rigorous when reviewing the financial statements more than that must have extensive knowledge about both national and international accounting standards and know how to apply them correctly.
Based on experience, the external auditor acquires a series of skills and strengths between them are being able to self-educate as well as apply the necessary procedures to be able to audit, it is suitable for teamwork and grants credibility both to the entity andhis work. A weakness that affects the auditor’s process is the lack of cooperation by the people who work in the entity, the time is essential for the auditor and it should be considered that reviewing the financial statements is not a simple task, the case can be giventhat fallacies are issued against the auditor by not letting themselves coimar what would affect his image and his work.
The audit in the public sector also considered as government audit is responsible for reviewing and evaluating the situation in public entities, these entities must be governed to the legal standards already established. The audits that this type of auditor performs must be reported to the Comptroller General depending on the place where you are, they must verify if the resources are being used efficiently or there are some type of accident, some skills that this type of auditor acquires is theTeamwork, know how to listen to their peers, and have an analytical mind to be able to detect failures or some kind of inconsistency. A weakness as we have seen in those previously is the little or almost no cooperation that people have with the auditors.
Leave feedback