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AUDIT OF FINANCIAL REPORTS OF BUSINESS COMPANIES

Branka Vukoja
Antonio Vukoja
Mirsada Murtić

Sažetak

An audit is an independent examination of financial statements or those financial information
relating to an entity, whether profit-oriented or not, regardless of its size or legal form, when
such an examination is prompted with the intention of expressing an opinion about it. The
experiences of many companies in the last few years support the fact that progress is not
possible without good and fast collection, processing and use of information in modern
conditions.
In fact, information and modern information technologies destroy the foundations on which
the traditional organization rests and lead to significantly increased efficiency and
effectiveness. In connection with this, the concept and expectations of a modern audit are
being redefined, which should seek the meaning of its existence in the ability to ensure quality
external and internal information that circulates vertically and horizontally inside and outside
the organization. Information for the purposes of business decision-making is obtained from
various sources. In this context, a significant role and place belongs to financial statements as
carriers of accounting information, which are the result or final product of the functioning of
the central part of the management information system - the accounting information system.
Although business decision-makers, especially internal (management), regularly require
additional management information in the business decision-making process, many still have
to rely on financial statements as their main source of financial information, and therefore
financial statements should be compiled and presented with their needs in mind.
Financial statements usually mean the balance sheet, profit and loss account, cash flow
statement and notes to the financial statements. Examining the content of financial statements
shows that they enable the knowledge of two fundamental criteria of successful management,
namely business security (liquidity, financial stability and indebtedness) and success or
efficiency (profitability).

Ključne riječi

Audit, auditor, audit report, risk, inherent risk, detection risk, materiality, auditor's documentation,

Hrčak ID:

336273

URI

https://hrcak.srce.hr/336273

Datum izdavanja:

6.10.2025.

Podaci na drugim jezicima: hrvatski

Posjeta: 750 *