Technical audit
Introduction
The audit (from the Latin verb audire, 'to hear', in turn from the first auditors who exercised their function by judging the truth or falsity of what was submitted to their verification, mainly by observing) is, in general terms, the action of verifying that a certain fact or circumstance occurs according to plan.[1] In the case of an organization, it refers to the tests carried out on financial, operational or administrative information based on compliance with legal obligations. or fiscal, as well as the policies and guidelines established by the entity itself according to the way in which it operates and is managed.[2].
The purpose of an audit is to certify the reliability of the financial statements (or accounting statements) for users in a given period, for which the auditor has to design and apply procedures that help him obtain the appropriate information to then generate reasonable conclusions and issue an independent opinion on the presentation of the figures that appear in said statements.
History
The audit was born with the need that the State had to keep entities controlled and monitored in aspects such as:
Given this environment, firm auditors and public accountants in the United States began to take control by reviewing the financial information of affiliated entities, subsidiaries, branches, transnational companies, among others; However, it did not obtain much success because there were not the same rules, foundations or guidelines regarding the application of the audit, nor the accounting theory and technique exercised in the United States and other countries.
After this, some transnational companies and firms examined the financial situation and initiated an ideology that allowed them to both standardize and compare information in accounting and auditing terms. It was not until the 1930s that Mexican firms were invited to join US public accounting firms for the purpose of auditing transnational companies.
Code of Professional Ethics
The accounting profession needs both the monitoring and compliance of moral standards to which all people who practice this profession are subject.
The Code of Professional Ethics is made up of twelve postulates.