Financial Education - Policies and procedures of the audit firm adjusted to the control procedures

As I said in my previous publication, the audit process, most of which are part of the requirements to comply with each of the elements of the quality control system in the audit.

Audits must be performed in accordance with auditing standards and are subject to control procedures, compliance with relevant standards, laws and regulations, and compliance with quality control procedures.

The audit firm's policies and procedures will affect the audit process, through tailored audit methodology, external reviews and inspections, effective supervision and review of audit work, appropriate audit documentation, and establishing rigorous quality control procedures.

National audit regulatory activities can influence the audit process if audit standards are promulgated that clarify the underlying objectives, and if effective systems are in place to investigate allegations of audit failure.

With regard to internal auditing, it is a variant whose fundamental objective is to examine and evaluate the proper and effective implementation of internal control systems, ensuring the preservation of the integrity of the assets of multi-service entities and the efficiency of their economic management, proposing to management the appropriate corrective actions.