Considerations Regarding the Financial Audit of the Tangible Fixed Assets

In this paper we intend to present in an objective manner the process and the challenges of the fixed assets. In our approach we described the mechanics of the internal control, testing those mechanics, testing the operations from a sequence. In doing so, we believe to have indicated the depth, the complexity and the risks associated with the global picture.fixed assets, risk, audit, objectives, tests.

Auditor independence, audit committee quality and internal control weaknesses

In this paper we investigate the relation between auditor independence, audit committee quality and the disclosure of internal control weaknesses. We begin with a sample of firms with internal control weaknesses and, based on industry, size, and performance, match these firms to a sample of control firms without internal control weaknesses. Our conditional logit analyses indicate that a relation exists between audit committee quality, auditor independence, and internal control weaknesses. Firms are more likely to be identified with an internal control weakness, if their audit committees have less financial expertise or, more specifically, have less accounting financial expertise and non-accounting financial expertise. They are also more likely to be identified with an internal control weakness, if their auditors are more independent. In addition, firms with recent auditor changes are more likely to have internal control weaknesses.internal control weakness; audit committee financial expertise; auditor independence

SOME ISSUES CONCERNING THE ELEMENTS OF CONTROL FUNCTION OF MANAGEMENT

In the field literature and the specific practice, the use of terms, such as – control,verification, evaluation, audit, on one side, and on the other side, the definitions for control functionof management, respectively, control-evaluation function – remain highly ambiguous. Consideringthese observations, the authors point out several useful aspects meant to clarify this issue. In orderto highlight the complexity and the integrality of the management function, the analysis of theelements composing a control system is undertaken. Constantly, the parts are reported to the whole;therefore, those concerning the evaluation and the verification are reported to the system providingthe exercise of the control function. Willing to eliminate ambiguity, for each of the conceptsinvolved, certain substances are proposed, as being considered better confined and oriented.management, control, verification, evaluation, audit

THE POLITICS OF FINANCIAL AUDITING

Accounting is an important factor in recent transformations in the management of economic life in Romania. A marked convergence between private and public sector philosophies of administration has occurred and accounting has given operational substance to ideals of „efficiency”, „value for money”, „competitiveness” and „accountability”. Accounting increasingly shapes the language of policy and has become as much an indisputable benchmark of rational economic conduct as a substantive practice. However, to suggest that accountants have been integral to the new financial performance culture in which we now seem to live is also to reveal an irony. Two of the professional tasks which are closely associated with the image of these champions of performance are currently undergoing a crisis of „performativity” themselves. Financial accounting and audit, practices through which the wider dissemination of a „financial rationality” has occurred, are being questioned as never before. In this essay we focus upon the varied processes of negotiation, debate and accusation which constitute a „politics of financial auditing”.accounting, financial audit, financial rationality.

The Financial Audit Complexity of The Fixed Assets

The paper shows concretely and in detail a part of what can means the auditing of fixed assets, the challenges and threatening of this field. For showing the complexity of the issue analysed, it is starting from the too much general and sinthetic of the broached issues into specialized literature, but whithout to minimize their importance. For tangible fixed assets, selected as basis of our research, there are presented the co-ordinates of the methodological approaching: the nuances of the financial reporting background and identification of the adequate one, the profile and amplitude of the audited entity, the place of tangible fixed assets into relations system of the organization, the connection between the orientation towards processes and existences examination and so on. In order to answer of the question what means to audit from financial view aspects of such issue, there are revealed following elements: the understanding of the specific internal control, the estimating of the control risk, as well as the costs and advantages assessing of the internal control mechanisms testing. Identifying and explaining the content of the most important internal control mechanisms, regarding the assessment of this, as well as the substantial tests of the operations from a sequence, it is emphasized the amplitude, the difficulty and risks associated of the whole, respectively of the fixed asset auditing.fixed assets, risk, audit, objectives, tests

A comprehensive conceptual profile on control

The paper starts from the persisting uncertainties regarding the use of the term “control”. In order to mitigate such ambiguities, after a brief subject exposure, a range of questions are proposed, whose adapted answers may help us to refine a correct understanding and perception of control, of course in relation with a plethora of similar concepts. Our argumentation includes the elaboration and presentation of a range of conceptual pillars or vectors regarding the control in its widest meaning, in contrast with other more restricted forms, equivocal or even altered explanations. The text is enriched with some assertions of the authors regarding the assurance of the appropriate control, with its meaning of a state of harmony, which can successfully meet honest expectations. At the end, we conclude that, in the current conditions, control can only be defined in a holistic style and we proposed a conceptual profile, through which we can easily explain what the control actually includes

Organizational culture and internal control

The paper proposes investigating the relationship between the organizational culture and internal control. The approach is a qualitative, constructive one. There is asserted and argued the thesis according to which between the two elements there is a one-to-one relationship, going on up to an extended overlapping between the organizational culture and the internal control environment. Though, our work emphasizes also the potential differences and distortions which may appear within the organizational activity between these important elements. The identification of several factors which may enhance the synergy between the organizational culture and internal control, respectively the description of possible entities, processes and organizational relationships through which there could be made corrections and reciprocal adjustments between the two elements are the main results of the present research, with theoretical importance for the scientific and practical research for the organizational management and audit