Maritime Audit
It means verifying that the financial, operational and administrative information you submit is reliable, truthful, and timely.
Financial Audit.
Operational Audit
Auditoría Administrativa
Information Management
Audit Reports
Audit Purposes
Audit Process
Objective of the State Audit
- Establish whether the laws and regulations in the management of public assets have been complied with.
- Determine the reasonableness and accuracy of financial information.
- Determine the achievement of the objectives envisaged in relation to the scheduled targets.
- Know the degree of efficiency, effectiveness and economics of public management.
- Promote the strengthening of the internal control system of the body or audited dependency.
Rules governing State Audit
- Rules concerning the Auditor.
- Planning Rules.
- Implementing Rules.
- Rules concerning the Audit Report.
The purposes of auditing are the aspects under which its object is observed. We can write the following:
- Property status assessments and determinations
- Financial statements and determinations.
- Formations and determinations on the status of the institution.
- Discover errors and frauds.
- Preventing errors and fraud
- General studies on special cases, such as:
Tax and legal reviews
Examination for the purchase of a company (heritage session)
Examination for the determination of bases of apportionment criteria, among others.
The purpose of our information audits is to identify resources and information flows that occur and manage in organizations, including cost/benefit analysis.
This report is considered a standard report because it consists of three paragraphs that contain standard phrases and terminologies with a specific meaning.
First paragraph
Second paragraph
Third paragraph
Identifies the financial statements that were audited and describes the management responsibility for the financial statements and the auditor's responsibility for expressing an opinion on the financial statements.
Describes the key elements of an audit provide the basis for supporting opinion on financial statements.
It is an explanatory paragraph describing the basis used to prepare the financial statements and stating that the regulatory body's rules differ from generally accepted accounting principles.
Process Review
Work Papers
Process Definition
Recommendation
The public accountant performing this type of activity is expected to make a series of objective observations and a complete analysis of specific operations, all related and focused on the increase in profits.
It has three main objectives
Performance assessment
Identifying opportunities for improvement
recommendation to improve or anticipate future events
It must be organized and documented appropriately so that it can be delegated to team associates so that each team knows in detail what to do and to which final goal to target their effort.
They are the set of certificates and reliable documentation that contain the data and information obtained by the auditor in his examination
The classification of the work papers is as follows:
Permanent Reference File Contains information that will be used for subsequent audits.
Audit file
The working papers that underpin the outcome of the audit
Work paper files
Permanent Archives
Files present
Cedulas
Paper document that provides the work carried out by the auditor on an account, item, area or operation subject to his examination.
Audit cedulas can be considered in two types:
Traditional
Temporary
The recommendation focuses on proposals by the operational auditor to correct or improve the results of the operation.
Practical recommendations for the preparation of the report.
Define the report objective.
Who it's addressed to.
Mention what stakeholders want to hear (don't say what they already know).
Use index for a better location (so you can navigate to the section or area of interest).
Tips for the preparation of an operational audit report.
Process Review
Work Papers
Process Definition
Recommendation
It is defined as the review of the administration, both in its policies and procedures and in its preset goals and objectives
It consists of evaluating the foundation of administration (planning, organization, organization, and control) by localizing irregularities or anomalies.
They technically support direct observation verification, land information verification, and data analysis and confirmation, which are necessary and essential.
Taking into account these needs it is advisable to appreciate the following levels of training:
The fundamental objectives of the work papers are:
Facilitate the preparation of the report.
Check and explain in detail the views and conclusions summarized in the report.
Provide information for the preparation of tax returns and report for state control and surveillance agencies.
Coordinate and organize all phases of the work.
Provide a permanent historical record of the information examined and the audit procedures applied.
Serve as a guide in subsequent reviews.
Comply with legal provisions.
By the nature of the role to be performed there are several fields that have to be mastered:
Knowledge of the substantive areas of the organization.
Knowledge of the adjective areas of the organization.
Knowledge of previous efforts
Knowledge of case studies.
Knowledge derived from the implementation of organizational studies of another nature.
Personal knowledge based on diverse elements.
Complementary
Academic
Empirical
Process Review
Work Papers
Process Definition
Recommendation
The fundamental and main objective of the financial audit is to assert (affirm) the reliability of the figures in order to give an opinion by the company's staff
The execution of audit work in accordance with the guidelines should be appropriately organized and documented so that it can be delegated to team collaborators.
The need to plan, control, and document work is independent of customer size.
The work papers serve mainly to:
An assist to the auditor in executing and supervising the work
Provide the main support of the auditor's report
Factors that affect the author's judgment regarding the amount, type and content of work papers for each audit include:
Nature of auditing
The nature of the financial statements, cards or other information on which the auditor is taught.
The nature of the auditor's report.
Work paper files
Permanent Archives
Cirrirntes Archives
It is to have available the information that is needed continuously without having to reproduce this information every year.
This file collects all work papers related to the period-specific Audit; It comprises two types of files:
General file.
File of financial statements.
Following this classification the audit techniques are specifically grouped as follows:
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Verbal
Written
Documentary
Physical Inspection
Procedures
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Jorge Romero 3-724-749