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Accountable and financial audit engagement in Morocco

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  1. The Enron affair
  2. The financial statements of Michelin (2008)
    1. Cost of sales
    2. Net research and development
    3. Non-recurring expenses
    4. Goodwill
    5. Tangible assets
    6. Trade receivables

The audit is a critical examination by a qualified professional from a situation of fact or law by reference to a standard.Given the diversity and the growing number of consulting firms, it is difficult to define the boundaries of growth in this industry. However, it is possible to identify four broad categories: audit, accounting, legal and tax and other advice.

This document will refer to a single category of the audit that will be the subject of the study. The audit is generally defined as the critical review by a qualified professional from a situation of fact or law by reference to standards. The examination results in the issuance of a report summarize the observations of a specialist and offers possible suggestions. The interest resides in the fact that all functions and services of the business may be audited.

However, this report will be devoted exclusively to a very specific type of audit, that of the audit of accounting and financial activities which includes certification of accounts.

The term audit derived from the Latin language is mostly used in the field of accounting and financial management and is the meaning of verification and monitoring by careful observation and meticulous dominates.

The auditor is, in this case, is one who, through appropriate procedures, "ensures the completeness, sincere and regular accounts of a company, it guarantees to the various interested partners of the firm and, more generally, make judgments about the quality and rigor of its management? .

From this work, one can identify three characteristics of what an audit regardless of the areas where it applies and changing practices: An audit is a specialized and with a certain distance, a margin of exteriority in relation to the matter under consideration,. It is also an investigation broad, deep and "armed" with listening and observation. A report or a written record objectifying the investigation, citing an image and "guaranteeing" the image.

Indeed, at the same time the economic social auditing practices became more diverse and the term can cover practices as diverse as "economic and social policy approach of the company? or a wave of institutional psychotherapy analysis when it is not the only requirement.

Since the accounting and financial audit uses the information provided by the internal audit it is important to discuss this concept before attacking the accounting and financial audit itself.

Internal audit is now a function of management support. End of the accounting and financial control, internal audit function nowadays covers a much broader and richer complex business, answering the increasingly growing demands of managing such a business: new methods of management, delegation, decentralization, motivation , computerization, competition.

The officials of the internal audit of the IIA (The Institute of Internal Auditors) said:
"Internal audit is within a company (or organization), a self-assessment of process control in the company (or organization). It in this area, a control whose function is to estimate and evaluate the effectiveness of other controls.
Its purpose is to assist members of the company (or organization) in the effective discharge of their responsibilities?.

For this purpose, internal audit provides analysis, appraisals, recommendations, advice and information concerning the activities reviewed. This includes promoting effective control at reasonable cost.

Tags : Audit defintition of term , various types of audit, accounts and financial engagement in Morocco

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