Ovidius University Annals: Economic Sciences Series (Jan 2017)
Analysis of the Amendments to the Independent Auditor's Report Starting with the Auditing of the Financial Statements as at 31.12.2016
Abstract
In an ever-expanding and changing market economy, audit is a tool that can provide some stability at the economic and social level, but over time there have been various cases of financial scandals and economic and financial crises that questioned the work of the auditor and led to a decrease in the confidence of the intended users in the auditors work. As a result of these events, there have been changes in the way the auditors work. One such example is the amendment of the International Standards on Auditing in 2015, applicable in our country starting with the auditing of the financial statements on 31.12.2016, being an effect of the last economic and financial crisis. Changes have been made following the projects initiated by the International Auditing and Assurance Standards Board (IAASB), aiming at identifying ways to improve the International Standards on Auditing in order to restore the confidence of the intended users in the work of auditors.
