m. angela jimenez 1 unit 5. regulation of external audit ifac and e.c

M. ANGELA JIMENEZM. ANGELA JIMENEZ 11

UNIT 5. REGULATION UNIT 5. REGULATION OF EXTERNAL AUDITOF EXTERNAL AUDIT

IFAC AND E.C.IFAC AND E.C.


5.1. REGULATION: 5.1. REGULATION: IFACIFAC

THE MOST IMPORTANT ORGANIZATION TO REGULATE THE EXTERNAL AUDITING IS THE IFAC.

IFAC: INTERNATIONAL FEDERATION OF ACCOUNTANTS. ITS MISSION IS THE WOLDWIDE DEVELOPMENT AND ENHANCEMENT OF AN ACCOUNTANCY PROFESSION WITH HARMONIZED STANDARDS, ABLE TO PROVIDE SERVICES OF CONSISTENTLY HIGH QUALITY IN THE PUBLIC INTEREST.

IFAC MAKES RECOMMENDATIONS. MEETS REQUIREMENTS OF REGULATORS AND OTHER EXTERNAL OBSERVES IN TERMS OF ITS EFFICIENCY, TRANSPARENCY AND CREDIBILITY.


5.1.REGULATION5.1.REGULATION .IFA.IFACC

THE MAIN OBJECTIVES ARE:THE MAIN OBJECTIVES ARE:– TO DEVELOP AND ISSUE STANDARDS AND TO DEVELOP AND ISSUE STANDARDS AND

STATEMENTS ON AUDITING, STATEMENTS ON AUDITING, – TO ASSURANCE AND RELATED SERVICES, TO ASSURANCE AND RELATED SERVICES, – TO DEVELOP QUALITY CONTROL STANDARDS TO DEVELOP QUALITY CONTROL STANDARDS

FOR USE AROUND THE WORLDFOR USE AROUND THE WORLD..

THE IFAC ISSUES “INTERNATIONAL THE IFAC ISSUES “INTERNATIONAL STANDARDS ON AUDITING” (ISAS) AS STANDARDS ON AUDITING” (ISAS) AS THE STANDARD TO BE APPLIED IN THE STANDARD TO BE APPLIED IN REPORTING ON THE REPORTING ON THE CREDIBILITYCREDIBILITY OF OF HISTORIC FINANCIAL INFORMATIONHISTORIC FINANCIAL INFORMATION..



THE INTERNATIONAL STANDARD ON AUDITING THE INTERNATIONAL STANDARD ON AUDITING PROVIDES AN OPPORTUNITY TO FOCUS THE PROVIDES AN OPPORTUNITY TO FOCUS THE STRUCTURE OF THE HANDBOOK OF AUDITING STRUCTURE OF THE HANDBOOK OF AUDITING AND ASSURANCE PRONOUNCEMENTS TO BEST AND ASSURANCE PRONOUNCEMENTS TO BEST ACCOMMODATE CURRENT AND FUTURE ACCOMMODATE CURRENT AND FUTURE DOCUMENTS. DOCUMENTS.

THEY ARE LIKELY TO FALL INTO THE THEY ARE LIKELY TO FALL INTO THE FOLLOWING CATEGORIES:FOLLOWING CATEGORIES:

– STANDARDS FOR QUALITY CONTROLSTANDARDS FOR QUALITY CONTROL– STANDARDS FOR AUDITS AND HISTORIC STANDARDS FOR AUDITS AND HISTORIC

FINANCIAL STATEMENTSFINANCIAL STATEMENTS– STANDARDS FOR REWIES OF HISTORIC STANDARDS FOR REWIES OF HISTORIC

FINANCIAL STATEMENTSFINANCIAL STATEMENTS



– STANDARDS FOR ASSURANCE ENGAGEMENTS STANDARDS FOR ASSURANCE ENGAGEMENTS ON SPECIFIC SUBJECT MATTERS OTHER THAN ON SPECIFIC SUBJECT MATTERS OTHER THAN HISTORIC FINANCIAL STATEMENTSHISTORIC FINANCIAL STATEMENTS

– STANDARDS ON GENERIC ASSURANCE TOPICS STANDARDS ON GENERIC ASSURANCE TOPICS SUCH AS EVIDENCE AND DOCUMENTATIONSUCH AS EVIDENCE AND DOCUMENTATION

– STANDARDS FOR RELATED SERVICESSTANDARDS FOR RELATED SERVICES

– PRACTICE STATEMENTS AS NECESSARY FOR PRACTICE STATEMENTS AS NECESSARY FOR EACH OF THE ABOVE.EACH OF THE ABOVE.



ISAs ARE TO BE APPLIED IN THE AUDIT OF ISAs ARE TO BE APPLIED IN THE AUDIT OF FINANCIAL STATEMENTS. ISAs ARE TO BE FINANCIAL STATEMENTS. ISAs ARE TO BE APPLIED TO THE AUDIT OF OTHER APPLIED TO THE AUDIT OF OTHER INFORMATION AND TO RELATED SERVICES IN INFORMATION AND TO RELATED SERVICES IN THE COUNTRIES THAT ARE MEMBERS OF THE THE COUNTRIES THAT ARE MEMBERS OF THE IFAC.IFAC.

ISAs DEVELOP THE IFAC CODE ABOUT ISAs DEVELOP THE IFAC CODE ABOUT ETHICAL REQUIREMENTS: (PRINCIPLES OF ETHICAL REQUIREMENTS: (PRINCIPLES OF PROFESIONAL ETHICS)PROFESIONAL ETHICS)– INTEGRITYINTEGRITY– OBJECTIVITYOBJECTIVITY– PROFESIONAL COMPETENCE AND DUE CAREPROFESIONAL COMPETENCE AND DUE CARE– CONFIDENTIALITYCONFIDENTIALITY– PROFESIONAL BEHAVIORPROFESIONAL BEHAVIOR


5.2. REGULATION: 5.2. REGULATION: E.CE.C..

AUDITING IN CONFIGURED UNDER THE AUDITING IN CONFIGURED UNDER THE DIRECTIVE OF THE EUROPEAN PARLIAMENT AND DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL ON STATUTORY AUDIT OF OF THE COUNCIL ON STATUTORY AUDIT OF ANNUAL ACCOUNTS AND CONSOLIDATED ANNUAL ACCOUNTS AND CONSOLIDATED ACCOUNTS AND AMENDING COUNCIL ACCOUNTS AND AMENDING COUNCIL DIRECTIVES 78/660/EEC AND 83/349/EEC.DIRECTIVES 78/660/EEC AND 83/349/EEC.

AUDITING:AUDITING: ACTIVITY THAT, THROUGH USE OF ACTIVITY THAT, THROUGH USE OF CERTAIN REVIEW TECHNIQUES, IS AIMED AT CERTAIN REVIEW TECHNIQUES, IS AIMED AT ISSUING A REPORT CONCERNING THE ISSUING A REPORT CONCERNING THE RELIABILITY OF THE ACCOUNTING DOCUMENTS RELIABILITY OF THE ACCOUNTING DOCUMENTS AUDITED. TRUE AND FAIR VIEW.AUDITED. TRUE AND FAIR VIEW.

IT IS ACTIVITY COMPRISED OF REVIEW AND IT IS ACTIVITY COMPRISED OF REVIEW AND VERIFICATION OF ACCOUNTING DOCUMENTS.VERIFICATION OF ACCOUNTING DOCUMENTS.


5.2. REGULATION: E.C5.2. REGULATION: E.C

DIRECTIVE ON STATUTORY AUDIT OF DIRECTIVE ON STATUTORY AUDIT OF ANNUAL ACCOUNTS:ANNUAL ACCOUNTS:

– STATUTOTY AUDIT IN DEFINED AS THE AUDIT STATUTOTY AUDIT IN DEFINED AS THE AUDIT OF ANNUAL OR CONSOLIDATED ACCOUNTS OF ANNUAL OR CONSOLIDATED ACCOUNTS OF ENTITIES COVERED BY COMMUNITY LAW OF ENTITIES COVERED BY COMMUNITY LAW DIRECTIVES. DIRECTIVES.

– EACH MEMBER STATE SHALL DESIGNATE EACH MEMBER STATE SHALL DESIGNATE COMPETENT AUTHORITIES WHICH ARE COMPETENT AUTHORITIES WHICH ARE RESPONSIBLE FOR APPROVING STATUTORY RESPONSIBLE FOR APPROVING STATUTORY AUDITORS AND AUDIT FIRMS.AUDITORS AND AUDIT FIRMS.



AUDITING ACTIVITY INCLUDES THE AUDITING ACTIVITY INCLUDES THE VERIFICATION OF THE RESULTS OF ITS VERIFICATION OF THE RESULTS OF ITS OPERATIONS AND THE RESOURCES OPERATIONS AND THE RESOURCES OBTAINED AND APPLIED DURING THE OBTAINED AND APPLIED DURING THE PERIOD EXAMINED, ACCORDING TO THE PERIOD EXAMINED, ACCORDING TO THE COMMERCIAL CODE AN OTHER COMMERCIAL CODE AN OTHER LEGISLATION APLLICABLE THERETO.LEGISLATION APLLICABLE THERETO.

UNDERSTAND THE FINANCIAL UNDERSTAND THE FINANCIAL SITUATION AND ASSETS OF THE SITUATION AND ASSETS OF THE COMPANY OR BODY AUDITED.COMPANY OR BODY AUDITED.



FOR THE PURPOSE OF THIS DIRECTIVE, THE FOR THE PURPOSE OF THIS DIRECTIVE, THE FOLLOWING DEFINITIONS SHALL APPLY>FOLLOWING DEFINITIONS SHALL APPLY>– STATUTORY AUDIT> STATUTORY AUDIT> MEANS AN AUDIT OF ANNUAL MEANS AN AUDIT OF ANNUAL

ACCOUNTS OR CONSOLIDATED ACCOUNTS ACCOUNTS OR CONSOLIDATED ACCOUNTS INSOFAR AS REQUIRED BY COMMUNITY LAW.INSOFAR AS REQUIRED BY COMMUNITY LAW.

– STATUTORY AUDITOR> STATUTORY AUDITOR> MEANS A NATURAL MEANS A NATURAL PERSON WHO IS APPROVED IN ACCORDANCE WITH PERSON WHO IS APPROVED IN ACCORDANCE WITH THIS DIRECTIVE BY THE COMPETENT AUTHORITIES THIS DIRECTIVE BY THE COMPETENT AUTHORITIES OF A MEMBER STATE TO CARRY OUT STATUTORY OF A MEMBER STATE TO CARRY OUT STATUTORY AUDITS.AUDITS.

– AUDIT FIRMS> AUDIT FIRMS> MEANS A LEGAL PERSON OR ANY MEANS A LEGAL PERSON OR ANY OTHER ENTITY, REGARDLESS OF ITS LEGAL FORM, OTHER ENTITY, REGARDLESS OF ITS LEGAL FORM, THAT IS APPROVED IN ACCORDANCE WITH THIS THAT IS APPROVED IN ACCORDANCE WITH THIS DIRECTIVE. DIRECTIVE.



UNDER THE DIRECTIVE VIII, THE REQUISITES TO UNDER THE DIRECTIVE VIII, THE REQUISITES TO BE AN AUDITOR ARE:BE AN AUDITOR ARE:

– TO BE OF LEGAL AGE.TO BE OF LEGAL AGE.– TO BE A NATIONAL OF THE MEMBER STATES OF TO BE A NATIONAL OF THE MEMBER STATES OF

THE EUROPEAN COMMUNITIES.THE EUROPEAN COMMUNITIES.– TO LACK A CRIMINAL RECORD FOR FRAUD TO LACK A CRIMINAL RECORD FOR FRAUD

RELATED OFFENSES.RELATED OFFENSES.– TO HAVE OBTAINED THE RELEVANT TO HAVE OBTAINED THE RELEVANT

AUTHORIZATION FROM THE ACCOUNTING AND AUTHORIZATION FROM THE ACCOUNTING AND AUDITING INSTITUTEAUDITING INSTITUTE



THE AUTHORIZATION: CONDITIONSTHE AUTHORIZATION: CONDITIONS::– HAVING ATTAINED UNIVERSITY ENTRANCE HAVING ATTAINED UNIVERSITY ENTRANCE

LEVELLEVEL

– HAVING COMPLETED THEORETICAL HAVING COMPLETED THEORETICAL TEACHING PROGRAMMES AND CARRIED TEACHING PROGRAMMES AND CARRIED OUT PRACTICAL TRAININGOUT PRACTICAL TRAINING

– HAVING PASSED A PROFESSIONAL HAVING PASSED A PROFESSIONAL PROFICIENCY EXAMINATION ORGANISED PROFICIENCY EXAMINATION ORGANISED AND RECOGNISED BY THE STATE.AND RECOGNISED BY THE STATE.


5.2.REGULATION: E.C5.2.REGULATION: E.C

A./ THE THEORETICAL TRAINING COURSES COVER A./ THE THEORETICAL TRAINING COURSES COVER TO THE FOLLOWING SUBJECTS:TO THE FOLLOWING SUBJECTS:

– INTERNATIONAL AUDITING STANDARDINTERNATIONAL AUDITING STANDARD– ECONOMIC, FINANCIAL AND ASSETS ANALYSISECONOMIC, FINANCIAL AND ASSETS ANALYSIS– GENERAL ACCOUNTING THEORY AND GENERAL ACCOUNTING THEORY AND

PRINCIPLESPRINCIPLES– CONSOLIDATIONCONSOLIDATION– ANALYTICAL OPERATIONS ACCOUNTING AND ANALYTICAL OPERATIONS ACCOUNTING AND

MANAGEMENTE ACCOUNTINGMANAGEMENTE ACCOUNTING– INTERNAL CONTROL AND RISK MANAGEMENTINTERNAL CONTROL AND RISK MANAGEMENT– RULES RELATED TO ANNUAL ACCOUNTS AND RULES RELATED TO ANNUAL ACCOUNTS AND

CONSOLIDATED ACCOUNTSCONSOLIDATED ACCOUNTS



– JURIDICAL AND PROFESSIONAL RULES JURIDICAL AND PROFESSIONAL RULES RELATED TO CONTROL OF AUDITS AND RELATED TO CONTROL OF AUDITS AND AUDITORSAUDITORS

– INTERNATIONAL ACCOUNTING STANDARDSINTERNATIONAL ACCOUNTING STANDARDS

– COST AND MANAGEMENT ACCOUNTINGCOST AND MANAGEMENT ACCOUNTING

– AUDITINGAUDITING

– PROFESSIONAL SKILLS, ETHICS AND PROFESSIONAL SKILLS, ETHICS AND INDEPENDENCEINDEPENDENCE


5.2. REGULATION: 5.2. REGULATION: E.CE.C

– OTHER MATTERS LIKE >OTHER MATTERS LIKE > CORPORATE LAW, TAX, CIVIL AND MERCANTILE CORPORATE LAW, TAX, CIVIL AND MERCANTILE

LAW, LABOUR AND SOCIAL SECURITY LAW, LAW, LABOUR AND SOCIAL SECURITY LAW, INFORMATION SYSTEM AND COMPUTING, INFORMATION SYSTEM AND COMPUTING, CORPORATE ECONOMICS, ECONOMIC POLICY CORPORATE ECONOMICS, ECONOMIC POLICY AND FINANCIAL ECONOMICS, MATHEMATICS, AND FINANCIAL ECONOMICS, MATHEMATICS, STATISTICS AND FUNDAMENTAL PRINCIPLES OF STATISTICS AND FUNDAMENTAL PRINCIPLES OF

CORPORATE FINANCIAL MANAGEMENTCORPORATE FINANCIAL MANAGEMENT..



B./THE PRACTICAL TRAINING MUST LAST AT B./THE PRACTICAL TRAINING MUST LAST AT LEAST THREE YEARS, ON WORK CARRIED OUT IN LEAST THREE YEARS, ON WORK CARRIED OUT IN THE FINANCIAL AND ACCOUNTING FIELDS, THE FINANCIAL AND ACCOUNTING FIELDS, SUBJECTS RELATED TO CONTROL OF ANNUAL SUBJECTS RELATED TO CONTROL OF ANNUAL ACCOUNTS, CONSOLIDATED ACCOUNTS OR ACCOUNTS, CONSOLIDATED ACCOUNTS OR SIMILAR FINANCIAL STATEMENT.SIMILAR FINANCIAL STATEMENT.

AT LEAST TWO YEARS OF WHICH SHALL BE AT LEAST TWO YEARS OF WHICH SHALL BE PERFORMED WITH A STATUTORY AUDITOR OR PERFORMED WITH A STATUTORY AUDITOR OR AUDIT FIRM.AUDIT FIRM.



AUDITOR´S RESPONSIBILITIESAUDITOR´S RESPONSIBILITIES::

– RESPONSIBILITYRESPONSIBILITY:: AUDITORS SHALL BE AUDITORS SHALL BE DIRECTLY RESPONSIBLE, IN SOLIDUM AND DIRECTLY RESPONSIBLE, IN SOLIDUM AND WITHOUT LIMIT, TO THE COMPANIES OR WITHOUT LIMIT, TO THE COMPANIES OR BODIES AUDITED AND TO THIRD PARTIES, BODIES AUDITED AND TO THIRD PARTIES, FOR THE DAMAGE AND LOSSES ARISING FOR THE DAMAGE AND LOSSES ARISING FROM FAILURE TO FULFIL THEIR DUTIES.FROM FAILURE TO FULFIL THEIR DUTIES.

– SECRECY:SECRECY: AUDITORS SHALL BE OBLIGED TO AUDITORS SHALL BE OBLIGED TO KEEP SECRECY AS TO ALL INFORMATION KEEP SECRECY AS TO ALL INFORMATION THAT COMES TO THEIR KNOWLEDGE WHILE THAT COMES TO THEIR KNOWLEDGE WHILE PERFORMING THEIR ACTIVITY, AND MAY NOT PERFORMING THEIR ACTIVITY, AND MAY NOT MAKE USE OF SAME FOR PURPOSE OTHER MAKE USE OF SAME FOR PURPOSE OTHER THAN THOSE INHERENT TO AUDITINGTHAN THOSE INHERENT TO AUDITING



DUTY OF CUSTODYDUTY OF CUSTODY: AUDITORS AND AUDITING : AUDITORS AND AUDITING FIRMS SHALL CONSERVE AND SAFEGUARD THE FIRMS SHALL CONSERVE AND SAFEGUARD THE DOCUMENTATION RELATED TO EACH AUDIT DOCUMENTATION RELATED TO EACH AUDIT THEY PERFORM, FOR THE TERM OF FIVE YEARS THEY PERFORM, FOR THE TERM OF FIVE YEARS AS FO THE DATE OF THE AUDITOR´S REPORT, AS FO THE DATE OF THE AUDITOR´S REPORT, INCLUDING THE AUDITOR´S WORKING PAPERS INCLUDING THE AUDITOR´S WORKING PAPERS CONSTITUTING THE PROOF AND BASIS FOR THE CONSTITUTING THE PROOF AND BASIS FOR THE CONCLUSIONS RECORDED IN THE REPORT. CONCLUSIONS RECORDED IN THE REPORT.

INDEPENDENCE:INDEPENDENCE: STATUTORY AUDITOR IS STATUTORY AUDITOR IS INDEPENDENT FROM THE AUDITED ENTITY AND INDEPENDENT FROM THE AUDITED ENTITY AND IN NOT IN ANY WAY INVOLVED IN MANAGEMENT IN NOT IN ANY WAY INVOLVED IN MANAGEMENT DECISIONS OF THE AUDITED ENTITY.DECISIONS OF THE AUDITED ENTITY.



STATUTOTY AUDITOR OR AN AUDIT FIRM SHALL STATUTOTY AUDITOR OR AN AUDIT FIRM SHALL NOT CARRY OUT A STATUTORY AUDIT IF THERE NOT CARRY OUT A STATUTORY AUDIT IF THERE IS ANY FINANCIAL, BUSINESS, EMPLOYMENT OR IS ANY FINANCIAL, BUSINESS, EMPLOYMENT OR OTHER RELATIONSHIP, INCLUDING THE OTHER RELATIONSHIP, INCLUDING THE PROVISION OF ADDITIONAL SERVICES.PROVISION OF ADDITIONAL SERVICES.

OBJECTIVITY.OBJECTIVITY.

THE AUDITOR WILL CONSIDER THE PRINCIPLES THE AUDITOR WILL CONSIDER THE PRINCIPLES OF THE INTERNATIONAL FEDERATION OR OF THE INTERNATIONAL FEDERATION OR ACCOUNTATS, *IFAC*, CODE OF ETHICS. ACCOUNTATS, *IFAC*, CODE OF ETHICS.


5.2. REGULATION : 5.2. REGULATION : E.CE.C

THE COMMISSION SHALL ADOPT THE COMMISSION SHALL ADOPT INTERNATIONAL AUDITING STANDARDS FOR INTERNATIONAL AUDITING STANDARDS FOR APPLICATION IN THE COMMUNITY ONLY IF APPLICATION IN THE COMMUNITY ONLY IF THEY:THEY:

– ARE GENERALLY ACCEPTED INTERNATIONALLY AND ARE GENERALLY ACCEPTED INTERNATIONALLY AND ARE DEVELOPED WITH PROPER DUE PROCESS, ARE DEVELOPED WITH PROPER DUE PROCESS, PUBLIC OVERSIGHT AND TRANSPARENCYPUBLIC OVERSIGHT AND TRANSPARENCY

– PROVIDE A HIGH LEVEL OF CREDIBILITY TO THE PROVIDE A HIGH LEVEL OF CREDIBILITY TO THE ANNUAL ACCOUNTSANNUAL ACCOUNTS

– ARE CONDUCTIVE TO THE EUROPEAN PUBLIC GOODARE CONDUCTIVE TO THE EUROPEAN PUBLIC GOOD



THE TECHNICAL STANDARDS ON AUDITING THE TECHNICAL STANDARDS ON AUDITING ESTABLISHES THE PRINCIPLES AND ESTABLISHES THE PRINCIPLES AND REQUISITES THAT MUST NECESSARILY BE REQUISITES THAT MUST NECESSARILY BE COMPLIED WITH BY AUDITORS IN COMPLIED WITH BY AUDITORS IN PERFORMANCE OF THEIR DUTIES AND TO PERFORMANCE OF THEIR DUTIES AND TO EXPRESS AN EXPERT TECHNICAL OPINION.EXPRESS AN EXPERT TECHNICAL OPINION.

THE TECHNICAL STANDARDS ON AUDITING THE TECHNICAL STANDARDS ON AUDITING COVER THE FOLLOWING MATTERS:COVER THE FOLLOWING MATTERS:

– T.S. OF A GENERAL NATURET.S. OF A GENERAL NATURE– T.S. OF PERFORMANCE OF THE WORKT.S. OF PERFORMANCE OF THE WORK– T.S. ON REPORTST.S. ON REPORTS



TECHNICAL STANDARDS OF A TECHNICAL STANDARDS OF A GENERAL NATURE:GENERAL NATURE:– AFFECT THE CONDITIONS THE AUDITOR AFFECT THE CONDITIONS THE AUDITOR

MUST COMPLY WITH, AND HIS MUST COMPLY WITH, AND HIS BEHAVIOUR IN PERFORMANCE OF THE BEHAVIOUR IN PERFORMANCE OF THE AUDITING ACTIVITY. MATTERS:AUDITING ACTIVITY. MATTERS:

REGULATION OF THE CRITERIA THAT MUST BE REGULATION OF THE CRITERIA THAT MUST BE APPLIED BY AUDITORS IN PERFORMANCE OF APPLIED BY AUDITORS IN PERFORMANCE OF THEIR ACTIVITIES, IN ORDER TO GUARANTEE THEIR ACTIVITIES, IN ORDER TO GUARANTEE THEIR INDEPENDENCE. THEIR INDEPENDENCE.

THE PRINCIPLES THE AUDITOR MUST FOLLOW THE PRINCIPLES THE AUDITOR MUST FOLLOW TO GUARANTEE AFFECTIVE PROFESSIONAL TO GUARANTEE AFFECTIVE PROFESSIONAL SECRECY.SECRECY.



REGULATION OF PRINCIPLES THAT MUST BE REGULATION OF PRINCIPLES THAT MUST BE FOLLOWED AS TO REMUNERATIONS.FOLLOWED AS TO REMUNERATIONS.

REGULATION OF CONTROL SYSTEM THAT ALL REGULATION OF CONTROL SYSTEM THAT ALL AUDITORS OR AUDITING FIRMS MUST AUDITORS OR AUDITING FIRMS MUST ESTABLISH IN ORDER TO REASONABLY ESTABLISH IN ORDER TO REASONABLY ASSURE THAT THEIR PROFESSIONAL ASSURE THAT THEIR PROFESSIONAL ACTIVITY WITH ACT AND REGULATIONS.ACTIVITY WITH ACT AND REGULATIONS.

OTHER ASPECTS THAT AFFECT THE AUDITORS OTHER ASPECTS THAT AFFECT THE AUDITORS IN PERFORMANCE OF THEIR ACTIVITY.IN PERFORMANCE OF THEIR ACTIVITY.



TECHNICAL STANDARDS ON PERFORMANCE OF TECHNICAL STANDARDS ON PERFORMANCE OF THE WORK:THE WORK:– REFER TO PREPARATION AND PERFORMANCE REFER TO PREPARATION AND PERFORMANCE

OF THE WORK TO BE CARRIED OUT BY OF THE WORK TO BE CARRIED OUT BY AUDITORS.AUDITORS.

– REGULATE THE SET OF INVESTIGATION AND REGULATE THE SET OF INVESTIGATION AND INSPECTION TECHNIQUES APPLICABLE TO THE INSPECTION TECHNIQUES APPLICABLE TO THE ACCOUNTING DOCUMENTS SUBJECT TO ACCOUNTING DOCUMENTS SUBJECT TO EXAMINATION.EXAMINATION.

– REFER THE INTERNAL CONTROL SYSTEMS AT REFER THE INTERNAL CONTROL SYSTEMS AT THE COMPANY OR BODY AUDITED.THE COMPANY OR BODY AUDITED.



PLANNING AND PROGRAMING THE WORK.PLANNING AND PROGRAMING THE WORK.

PERFORMANCE OF THE WORK, INCLUDING PERFORMANCE OF THE WORK, INCLUDING THE ADEQUATE METHODS AND PROOF TO THE ADEQUATE METHODS AND PROOF TO OBTAIN THE EVIDENCEOBTAIN THE EVIDENCE

DEVELOP THE METHODS AND PROCEDURES DEVELOP THE METHODS AND PROCEDURES FOR SPECIFIC APPLICATION TO THE FOR SPECIFIC APPLICATION TO THE DIFFERENT SECTORS OF ECONOMIC DIFFERENT SECTORS OF ECONOMIC ACTIVITY.ACTIVITY.

THE CONTENT, CUSTODY AND PRINCIPLES THE CONTENT, CUSTODY AND PRINCIPLES RELATED TO THE DOCUMENTATION THAT RELATED TO THE DOCUMENTATION THAT JUSTIFIES THE WORK CARRIED OUT.JUSTIFIES THE WORK CARRIED OUT.



TECHNICAL STANDARDS ON TECHNICAL STANDARDS ON REPORTSREPORTS::– REGULATE THE PRINCIPLES THAT MUST BE REGULATE THE PRINCIPLES THAT MUST BE

COMPLIED WITH TO PREPARE AND COMPLIED WITH TO PREPARE AND PRESENT THE AUDITING REPORT. PRESENT THE AUDITING REPORT.

– ESTABLISH THE EXTENT AND CONTENT OF ESTABLISH THE EXTENT AND CONTENT OF THE DIFFERENT TYPES OF REPORT, AS THE DIFFERENT TYPES OF REPORT, AS WELL AS THE CRITERIA TAKEN AS THE WELL AS THE CRITERIA TAKEN AS THE BASIS FOR THE MODEL OF REPORT, TO BE BASIS FOR THE MODEL OF REPORT, TO BE USED IN EACH CASE.USED IN EACH CASE.

m. angela jimenez 1 unit 5. regulation of external audit ifac and e.c

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