CONSIDERATIONS REGARDING THE AUDIT OF FINANCIAL SITUATIONS.docVIP

CONSIDERATIONS REGARDING THE AUDIT OF FINANCIAL STATEMENTS Maria-M d lina, Salomia1 Abstract: In a business world situated on a market that is becoming more and more active both on an international and national level, the audit of financial statements embodies a veritable varied research domain and with favorable advantages for the Romanian business society, as well as for the interest of the business society located outside the Romanian space. From the result of the auditing of financial statements of an entity, various pieces of information may be obtained which are used by different groups that present opinions, knowledge and divergent interests such as: managers, investors, financial creditors, commercial creditors, clients, suppliers, employees, the government and its institutions, bankers, financial analysts, the public, the business community and other entities who base themselves on the objectivity and integrity of the financial statements audited. Key words: audit, financial audit, auditor, financial statements, audit report. JEL Code: M42 The word audit has its origin in the Italian word “audire”- to listen; it is a word of Italian origin which became known and used from the beginning of the 18th century. Being transformed during Anglo-Saxon practice, it presently symbolizes, in a strict sense the account control performed by independent experts called auditors, who express their professional, responsible and independent opinion concerning the preparation and presentation method of the financial statements of an entity. At the beginning, the audit was a set of methods, procedures and techniques. After the year 1970, audit has become a mature and developed domain that opened numerous methods of research. The audit of financial statements is a domain of action in the financial accouting. In Romania, the activity of financial audit was legislated by the publishing in the Official Gazette of the