| Abstract [eng] |
In order to be competitive and ensured about their continuity, companies are obliged to look for reserves to improve their economical activity while operating in global and competitive market conditions. Enterprise managers need a reliable and full-scale information about the company's financial situation, operating results, cash flows, in order to objectively assess the company's current performance and its prospects. Detailed financial analysis helps estimate whether previous management decisions were correct, whether current management decisions are appropriate and reasoned for the company's future prospects. Financial statement provides all the necessary information. Anyway there is always a possibility that an auditor will not notice the deviation caused by fraud or error, and simply provide with a wrong conclusion about a company's financial condition. Therefore, audit is the scope where unavoidable risk is characterized. |
