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The process of collection, analysis, evaluation and verification in the audit
Authorship is a process based on the collection, analysis, evaluation and verification of accounting information and the processes that occur in a company applying the principles of accounting, these under the standards of accounting standards, seeks to verify that this informationBe authentic.
The auditor is responsible for looking for any type of error, embezzlement, irregularity or fraud that is being raised, then prepares a report with the conclusions collected so that they reach high management and these take action in this regard also helps the analysis of the analysis of the analysis of theperformance and fulfillment of a company. Among the specialties of the audit seen in this module are: internal audit, external audit, government audit and auditing in processes.
The internal audit as its name says is the internal inspection process in a company where it is analyzed if everything is being carried out correctly, effectively and efficiently, in addition to seeking improvement in risk processes and standards based on standards,policies and processes established by the organization. This type of audit is usually more frequent in large companies, since in this type it is where there are usually coordination or process management problems because its volume limits control over all departments.
Among the largest strengths of the specialty of internal audit we find that: it is objective and independent of the other departments, its conclusions directly favor senior management and are focused on the improvement of processes that occur in a company. In contrast among their weaknesses we find that: they do not know how to deal with organizational strategy models because they are accustomed to perform their analysis based on emerging risks, their evaluations are reduced to a test by years and their audit plans are set only to one year.
The external audit is a detailed and critical analysis of a company through an auditor completely oblivious to the company and without any link with its staff, its objective is to issue an independent report for any regulatory entity certifying the veracity of the analyzed accounting statements,It is made by an authorized public accountant and the information that this publishes will be in the public domain.
Among the strengths of this specialization we have that their conclusions are capable of verifying and giving reliability to the financial statements of a company, in addition to the elaboration of these reports, they detect possible risks and weaknesses that arise in internal control, their greatest strength is that they detectproblems in different areas either in the accounting, managerial, administrative and operational area.
On the other hand, it faces great problems such as the lack of cooperation of the company’s collaborators at the time of information collection, since they are often perceived as the bad, this type of problem delays the auditor’s work more delays the work of the auditor deriving inAnother problem "the lack of time", since public auditors has an established period to present their work to relevant organisms is always done their work under a huge burden of stress and hours counted.