The audit, one or another, has been carried out during the history of commerce and bonds. There are indications that they practiced certain audit forms in the ancient civilizations. In feudal states and private farms, a competent person was in charge of the accountability of officials and agents. This is how the term auditor originated.
Introduction to the audit
In Great Britain, the first local associations emerged to protect the auditor’s profession. Subsequently, it extended to other countries mainly of Anglo -Saxon influence as the US, in fact in this country the auditor’s profession achieved its official recognition in the state of New York in 1896.
In the rest of the countries of Europe the rise of the audit was slower, probably due to the greatest slowness in the establishment of industrialization. In its beginnings the function of the audit was limited primarily to a mere surveillance work, its objective was to detect fraud and errors. The means to achieve such objectives consisted of a detailed analysis of transactions.
With the appearance of the great societies, the property and administration of them remained, in most of the time, separately and the need for the shareholders and third parties interested in the company’s march to achieve a adequate protection through an independent audit that would guarantee the economic and financial information provided by the company’s administrators directors; Hence a new objective to the audit in which the balance sheets and the state of the results present the financial situation and the results of the operations.
Thus, the auditor becomes an expert capable of providing security A, among others, shareholders, creditors, clients and administration.
Around 1940 and 1950 a growing emphasis emerged by the review of internal business control as the key to the audit and consequently the concepts of sampling were used more frequently, therefore the search for fraud without leaving of being one of the essential things in the audit, ceasing to be such an important point.
The new audit conception covers administrative control problems about all business and their operations, but after all, what it is about is to find the Gúia that marks the following steps of the company. This is why from Verum Management we offer an integral audit service, trying to cover all those areas of interest for our clients. If you want to receive more information about it, click .com
The Big Ben. – Thomas Kelley – @thkelley