Received: 01 Jan 1970
Accepted: 01 Jan 1970
UVOĐENjE I PRIMENA KVALITETA KONTROLE REVIZIJE
Vesić Dobrica (Виши научни сарадник, Институт за међународну политику и привреду, Београд),
Petrović Pero (Научни саветник, Институт за међународну политику и привреду, Београд.)
Public oversight of doing business is an important element to ensure confidence in the audit function. With the development of capital markets in the EU, particularly its rapid expansion, the European Commission and the European group formed for supervising audits. Quality control of audit has to reduce the risk of unreliable audits which provides better and more objective financial reporting and increases stakeholders’ certainty in the capital market. Audit quality control is achieved at two levels as internal and external control. An audit of financial statements is to enable verification of information in the financial statements, eliminate doubt its accuracy, prevent the deterioration of the financial reporting system and increase confidence in the addressee’s financial statements. The contribution provides a review of the financial reporting can only be expected if the quality audit conducted. Therefore, the provision of high quality audits of interest to professional organizations and the imperative of accounting and auditing profession. It is concluded that auditors provide quality service to their stakeholders if they submit a report that is independent, reliable and based on appropriate audit evidence. This paper explains the mechanisms of internal and external quality audits in order to increase the confidence of users of financial information, and, in particular, point out the regulatory framework for the provision of audit quality control in the European Union to adopt and Serbia, in the further process of integration.
Keywords: audit, control, quality, introduction, public oversight of audit, internal, external, directive