Project auditing in the context of a knowledge based economy

Author:Univ. prof., PhD Elena DOBRE

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Keywords:project, audit, success, failure, european financing

Abstract:
This paper is supposed to underline the issues that project auditing in the context of a knowledge based economy and also the context of European project financing. Project auditing is not focused on public annual reports quality like financial auditing. It is interdisciplinary and more flexible because on request it can focus on any part of project. In fact, project auditing should asses the success or failure of a project. The objectives of audit project from this perspective are classified as major and subsidiary or secondary. The direct or major objectives can be easily identified and evaluated or audited whereas the secondary ones are more difficult to evaluate as they depend on the activities’ privacy, team relations and so on. Some studies of the project managers show that the elements recognized in practice making a difference between a project success and failure are as follows: objectivity and realism when establishing the aim, budget,\r\ndeadlines and solutions; necessity to have a highly experienced staff for all the project levels; authority blended with responsibility; complete accounting of the project activities and operations. \r\nIt can be considered that these conceptual and practical delimitations related to the project management techniques are useful to the financial auditors when performing a project audit.\r\n

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