Independence and Responsibility in Audit

Author:University Professor, PhD. Horia CRISTEA

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Keywords:communication, decisions, information, rules, auditor opinion, independence

Abstract:
The auditor obtains, as result of the process, an intellectual product that contains a reasonable or not reasonable assurance that the financial statements, through the information offered, are according to reality, exact, real to what concerns the financial state, performance, cash-flows or share capital.\r\n\r\nThe formulated opinion of the auditor, that the quality attributes of the information obtained through the financial statements are the correct, real, relevant, exact ones is the proof of its independence and responsibility.\r\n\r\nThe increase of transparency implies an increase in profitability too.\r\nThe representative organism of the accounting profession at European level - FEE - stimulates the high quality audit.\r\n\r\nThe auditor is independent in his judgment and expression starting from the idea that he has to protect everybody without having any kind of preferential behavior. \r\n\r\nThe independent behavior depends on the morality of the auditor. There can be situations where the level of professionalism and competence is very high but the morality is doubtful and affects the independence and impartiality of the auditor.\r\n\r\nAt European level the independence of the auditor is promoted with direct target - the improvement of quality.\r\n\r\nIndependence does not mean renouncing at responsibility.\r\n\r\nThe auditor gives an assurance regarding the historical and prospective information.\r\n\r\nNobody can be independent without respecting the 3 R:\r\n- Respect yourself,\r\n- Respect others,\r\n- Responsibility for your own deeds.

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