Business globalization leads to an uniformity of the audit practices

Author:Jan COOPER

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Keywords:risk management, partners, fees, standards` convergence, consistency of practices

Abstract:
The speaker insisted on the need for accounts comparability and for an uniformity of audit practices. Because we are in the middle of a globalization process, it is very important for an investor when making decisions to invest in Romania or to make businesses with a Romanian company to be completely confident that the audit reports are in accordance with standards used in other European countries. \r\n\r\nThe audit reports should be trusted because, in the end, they will support the cross border exchanges and will lead to an increase in the number of transactions at the global level and the financial auditors will add value to the companies they are working with. \r\n\r\nThe reality is that the auditor’s „business” relies on people and, consequently, it should be invested continuously in partners and staff trainings in order to progress and to ensure the compliance with the International standards on auditing. \r\n

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