Base Legal En Auditoria

At the planning stage of the audit and in the remaining phases of the review, it is assumed that the statutory auditor will always exercise great care in assessing the risks; the supervisor maintains high standards of on-site auditing and in the offices of the audit firm, that the assessment and the performance of adequate assurance are adequate, relevant and documented in order to ensure the desired quality and to achieve the objectives or objectives of that audit. We briefly understand the importance and importance of an internal control system, the modalities, its main objectives, elements and certain limitations to its correct application, and define the activities and responsibilities of the auditor with regard to compliance with the relevant standard, which states: “The auditor shall carry out an appropriate study and assessment of existing internal control to serve as a basis for determining the degree of confidence, who is to be placed there; It may also determine the nature, scope and timeliness of examination procedures. Just as accounting standards provide the framework for the valuation and exposure of financial statements, auditing standards are a collection of basic rules or guidelines that the auditor must strictly follow when conducting an audit, tax audit or audit of financial statements. that is, if the auditor is engaged in a public activity. These assistants or juniors, in turn, can be divided into heavy, easy, junior; the latter are not necessarily professionals, but accounting students with some ideas and exam bases; Lightweights must have one or two years of experience and be in their final year of study; To reach strong participants, they must have at least three or four years of experience and be students or graduates in their final year. SAS 57 Accounting estimates for auditing Purposes Auditing standards are the basic principles of statutory auditing and auditors should adapt their performance to these standards during the audit process. Compliance with these standards guarantees the quality of the auditor`s professional work. The statutory auditor is fully capable of accepting or rejecting a particular client, in particular if his activity presents a risk that binds him to the fundamental objective of the statutory audit: the audit opinion. This comment includes regular customers who, at some point, have deteriorated their internal control system or have not taken corrective action to improve it. NAIAs are a set of principles, rules or procedures that must be followed or applied by the professional auditor dedicated to auditing financial statements in order to assess the financial condition of the company or entity he or she is auditing appropriately and reliably and, on that basis, to enable him or her to give his or her opinion independently with professional criteria and accurate judgment.  Maximum management control is the responsibility of senior managers whose particular interests are linked to those of the company; They are called “partners”. They participate in the implementation of the company`s domestic and foreign policy.

The main task is to maintain contact with customers. Many clients choose an accounting firm because they have known and respected one of these corporate partners. Other duties include hiring new managers, providing overall supervision of specialized staff, reviewing audit working papers, and signing audit reports. Some of these partners may become or be heads of committees with different functions, among which we have technical, legal, system, audit, industrial relations, labour, tax, etc. commissions. They are a kind of chair in their respective committees. In accordance with certain legal and statutory requirements or the scope of work, the auditor is required to respond as part of the full audit if the entity complies with the most important laws or regulations to which it must comply. In these circumstances, the auditor must plan and verify compliance with these laws and regulations. (2) INVESTIGATION AND EVALUATION OF INTERNAL CONTROL.

This standard stipulates that the statutory auditor must carry out an appropriate study and assessment of the existing internal control, which serves as a basis for determining the confidence he will place in him; also so that you can determine the type, scope and speed (NEO) you provide to audit procedures. The following policies and procedures can help management control its responsibilities for preventing and detecting violations, including:  Monitor regulatory requirements and ensure that operations are designed to comply with these regulations.  Establishment and operation of appropriate internal control systems.  Development, publication and compliance with a code of conduct.  Ensure that employees are properly trained and understand the code of conduct.  Monitor compliance with the Code of Conduct and take appropriate measures to sanction employees who do not comply with it,  Hire legal advisors to help monitor legal requirements.  Maintain a compendium of important laws that the company must comply with in its respective sector. (a) Planning. (What? For what?, How?, Where? With whom or with whom?, when?) These are, among other things, fundamental issues for the planning of a facility, the definition of objectives, procedures and responsibility for its execution). The effective and satisfactory completion of an audit, no matter how small, requires the planning and creation of a work guide. This involves predicting the nature of the audit procedures to be applied, the scope and speed with which they will be applied (NEO), the level and quality of the staff involved in the audit and the working documents recording the results obtained. It is also important to define how audit activities are coordinated with the client`s staff.

In order to properly plan the work, the auditor must know: b) You will comply with the legal regulations in force in each country, in this case Ecuador and the quality standards regulated by the professional organization that brings us together. Is the National Federation of Accountants of Ecuador currently in operation as the supreme body that regulates the practice of the accounting profession? This is a question that must be answered by every accountant in our country; and, – company law. Its study aims to verify that the company has complied with the relevant legal standards relating to companies or the legal standards of the sector to which the company belongs, such as finance, cooperatives, etc., for this it must examine the protocols of associations, decisions of administrative authorities and contracts to verify that they comply with the legislation. Following his tests, the examiner weighs the evidence obtained on the basis of the procedures used, a position that allows him to express his conclusions. It should be noted that in Peru, for many years, the “Generally Accepted Auditing Standards” (LGA) have served as the basis for the work and preparation of reports published by the AICPA; Due to their wide application in different countries, ISAs represent the logical consequence of the evolving process of AGMs. In general, NAI shares many similarities and few differences with NAGA. SAS 55 Assessment of internal control in audit In addition, in March 1999, the Office of the Auditor of the Republic – CGR, as a higher control body – CSO, which is constitutionally and legally responsible for the exercise of financial control, published a set of guidelines for the development and evaluation of these activities, called Colombian Government Auditing Standards, which are basic assumptions, on which they are based and the auditing standards of public administrations – NAGG, which define the overall parameters within which the necessary activities, requirements and minimum conditions are developed, which must be respected by the bodies responsible for the exercise of tax audit, in order to obtain adequate and effective management of the audit. Mandatory, when reviewing the financial statements, with the necessary adjustment should also be applied to the review of other related information and services. Questions relating to internal oversight questionnaires should be regularly discussed and submitted in the working documents of the procedure to which they correspond. The preparation of this questionnaire should take place at the beginning of the work, if possible during the detailed review (review of the internal control systems and accounting procedures established by the enterprise in order to make proposals for the case and to determine the tests and audit procedures to be applied in each area; and the scope and timeliness of the same NET) The accuracy of the responses and the effectiveness of the established procedures shall be verified by the examiner conducting the detailed examination.


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