Modern concepts on the quality of the financial audit activity
Author:
PhD. Alexandru RUSOVICI, Ec. Relu POPESCU
JEL:
DOI:
Keywords:
quality, quality premium, clients/suppliers, engagement team, ISO, ISQC, participative management
Abstract:
The article refers to an issue of a high interest but not too much discussed in the specialized literature. For this reason, the authors show some definitions and some preliminary general issues referring to quality, quality management and professional regulations on quality control. \r\n\r\nThe article is structure in three parts: first part presents the beginning of the public interest and the importance Japan attach to quality, and the establishment of the International Standards Organizations (ISO) responsible for the standards on quality. \r\n\r\nIn the second part the International Standard on Quality Control no. 1 (ISCQ 1) is presented as a regulatory document for the companies providing audit services, standard which has been published in the „Financial Audit” volume.\r\n\r\nIn the third part, the Quality management is presented, with its fundamental aspects in comparison with the classical management.