Prolegomene for the financial audit - the economic risk and the audit risk
Author:
University Professor, PhD. Ana MORARIU, PhD. student Flavia STOIAN
JEL:
DOI:
Keywords:
decisions, failure, guarantee, risk, benefits, reasonable assurance, procedures, allowable error
Abstract:
This article intends to releave the importance of the financial information in an effective economic decisions making proccess, with one condition: to be real, to express the truth in so far we name economic, financial and non-financial tranzactions. \r\n\r\nThe financial audit as research area of public interest is a rigurous process for identifying the issues: to corect the missunderstandings, prevent and minimise the riscks to become effective. \r\n\r\nThe economic failure and the audit risk are completely different concepts that diserve our attention in analyising the responsibility of an entity management and the auditor’s responsibility.\r\n