Considerații privind domeniul de aplicare al ISA 700 și implicațiile asupra calității misiunii de audit

Abstract

Global financial crises, corporate failures and scandals have led to the revision of reporting standards, including IAS 700. This revision helped to regain user confidence and increase the value of the audit. It also expanded the auditor's report, which includes disclosures about material matters in the company's financial reporting and the audit, as well as increases the usefulness of audit opinions to promote more open communication between auditors and users of financial reporting. Thus, the purpose of this paper is to analyze the specialized literature, to determine the link between the scope of ISA 700 and the implications on the quality of the audit engagement. The results showed that this theme was developed in many countries, studies were conducted and it was concluded that although the new report brings multiple benefits, others claim to prefer other important disclosures. At the same time, the quality of the audit mission is determined not only by the application of this standard, but also by the competence, ethics and integrity, skills of the auditor. CZU: 657.6:006.44; JEL: M40, M42; DOI: https://doi.org/10.53486/issc2024.25