The Future of Financial Statements Audit

Nikolovski, Pece and Mircheska, Katerina and Blazheva, Slavica and Malakovska, Maja and Karadjova, Vera (2020) The Future of Financial Statements Audit. International Journal of Sciences: Basic and Applied Research (IJSBAR), 54 (2). pp. 181-189. ISSN 2307-4531

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Abstract

In countries without a longstanding tradition of audit, the view is that developing a capacity in audit is essential for underpinning and enhancing economic growth. The financial statement audit is seen as a gateway to a stronger accountancy profession and, with it, greater prosperity. By contrast, in countries where audit is more established, the view is that audit itself must develop. The suggestion is that new, differentiated types of reporting and new assurance offerings will keep the financial statement audit relevant for users. Auditors will need to keep their skills up to date to respond to the challenges created by heightened expectations of the profession. The digital age creates opportunities and threats. This paper sets out some recommendations for standard setters and regulators to support better global outcomes. Keywords: financial statements; financial audit; future of audit; auditing standards.

Item Type: Article
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions: Faculty of Tourism and Hospitality
Depositing User: Prof. d-r Vera Karadjova
Date Deposited: 14 Oct 2020 08:08
Last Modified: 14 Oct 2020 08:08
URI: http://eprints.uklo.edu.mk/id/eprint/5807

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