The Impact of the Economic Crisis on Auditing
Author:
Associate Prof. Tibor PÁL, Ph.D.
JEL:
G 01, M 42, M 41
DOI:
Keywords:
economic crisis, financial audit, financial report, accounting procedures
Abstract:
The global economic crisis – due to its unusual nature – has meant that auditors have to be very aware of the prime importance of judging different risks when assessing companies. This is especially true with regards to the ‘going concern concept’.\r\nThe judgement of these risks is a more complicated problem – and a serious challenge for the auditor – during a period of crisis.\r\nHowever, professional terms such as audit standards, the principles of quality assurance, and methodological recommendations are available. Therefore, any problems can be solved though not easily.\r\n\r\n\r\n\r\n\r\n