This thesis is the study of the role and regulation of the external audit in the UK and US. It argues that the current audit model is fundamentally flawed, which has a negative impact on the quality of financial audits. This research contributes to the debate on external auditing by suggesting a free-standing legal re-conceptualization of the audit model, which aims to improve the quality of audits and reduce opportunity for accounting fraud. The research findings are drawn from qualitative analysis of legal and financial accounting sources. The thesis consists of three main themes. Firstly, it provides a comprehensive analysis of the regulatory framework for auditing by looking at why, how and by whom audit is regulated. Secondly, it analyses numerous flaws inherent in the current audit model. The focus throughout the thesis is on problems relating to auditors' independence, deficiencies in the spheres of legal, professional and social accountability of auditors, and excessive concentration of the audit market. Thirdly, following the analysis of various theoretical and international audit arrangements, the thesis suggests a new audit model. A key function in this model would be played by an external, public body - the Public Auditing Board, which would be in charge of appointment and remuneration of auditors carrying out audits in the public interest. It is submitted that moving audits to the public sector is desirable in order to introduce genuinely autonomous auditors, to provide better quality of audits and to restore public confidence in capital markets.

Purpose - The purpose of this study is to shed light on one part of the external auditor’s work by examining how the cooperation between external auditors and internal auditors is organized and if external auditors face a dilemma when cooperating with internal auditors. The focus will therefore be on what aspects are considered by the external auditor in the decision to cooperate with internal auditors (and to use their work), as well as how the external auditor safeguards the audit quality by maintaining an independently and professionally executed audit. Design/methodology/approach - This study was realized through a qualitative research method. Semi-structured interviews were conducted with external auditors that have engagements with internal audit functions. All respondents are employed in the Big 4 and are operating in Sweden. Findings - The results of the study show that external auditors tend to use the work of internal auditors when they cooperate. To gain efficiency improvements is the main beneficial aspect the external auditors consider in the cooperation with internal auditors. The findings would suggest that some external auditors may act after self-interest more than others because if they start the cooperation and spend the time to evaluate the internal auditors’ work, they would prefer to use it. This would also indicate that the external auditors’ independence and professionalism can to some extent be compromised because there seems to be an acceptance of a certain degree of lower audit quality when using the work of internal auditors. Originality/value - The use of semi-structured interviews makes it possible to obtain deeper knowledge and complement prior studies concerning cooperation in the audit industry and how the external auditor considers different aspects in a decision-making environment.

The goal of the diploma thesis is audit description and realization of internal and external audit in a company.

The Master thesis is focused on the definition of internal and external audit. This work is divided into two main parts. The first part is theoretical, which deals with the characteristics of audit, audit risk, explaining methods and procedures for internal and external audit. It also includes ethical assumptions, principles and law requirements for the exercise of the audit profession. The second part is practical, this part deals with the comparison, mutual confrontation between internal and external audit, specifies the same as well as different features between them. Moreover thesis focuses on the practical application of methods during the external audit. Purpose of this thesis is to compare the internal and external audit and applies the methods used in the external audit.

Examines the perceived occupational image of auditing among US college students and uncovers students’ attitudes towards auditing as a field of study and career. In addition, investigates background correlates of such images and attitudes. Discusses the implications of the findings for academics and practitioners.

Importantes mudanças foram implementadas por órgãos normatizadores do mercado de capitais, no Brasil e nos Estados Unidos, relativas às atividades de controle e fiscalização na elaboração e divulgação de demonstrações contábeis. A percepção da necessidade dessas mudanças decorreu, em grande parte, das fraudes corporativas que se utilizaram de instrumentos contábeis, revelados a partir da segunda metade da década de 1990 nos dois países. Nos Estados Unidos, mais precisamente, nos anos de 2001 e 2002. Este trabalho foi desenvolvido com o objetivo de analisar, comparativamente, as principais normas publicadas no Brasil e nos Estados Unidos entre 1998 e 2004, que buscaram o aprimoramento da governança corporativa através da estruturação de controles internos e de fiscalização sobre a elaboração e divulgação de demonstrações contábeis em setores empresariais regulamentados. As normas estudadas foram: a Lei Sarbanes-Oxley, sancionada nos Estados Unidos em 2002, as Resoluções 2554 e 3198 do Conselho Monetário Nacional - CMN, editadas em 1998 e 2004, respectivamente, a Resolução 118 de 2004 do Conselho Nacional de Seguros Privados - CNSP e as Circulares 249 e 280 de 2004 da Superintendência de Seguros Privados - SUSEP. Para a realização da análise comparativa foram coletadas opiniões, através da aplicação de questionário junto a participantes especialistas ativos das indústrias bancária, de seguros e das companhias abertas brasileiras, sobre a eficácia e suficiência das normas estudadas e foram levantados artigos acadêmicos, teses, dissertações e outros trabalhos que já tenham se proposto a analisar as referidas normas. As principais conclusões obtidas revelam que as normas estudadas são em geral eficazes e eficientes e abordaram aspectos importantes para a redução dos riscos de elaboração e divulgação de relatórios financeiros inadequados; que as medidas determinadas na Seção 404 da Lei Sarbanes-Oxley revelam pouca eficácia para a redução daqueles riscos e a custos muito elevados, principalmente para pequenas empresas; que, no Brasil, é necessário que os órgãos normatizadores das indústrias bancária, de seguros e das companhias abertas, bem como da profissão de contabilidade e auditoria desempenhem suas atividades de fiscalização e monitoramento de forma mais ampla e ativa. / Stock market regulatory agencies in Brazil and the United States have effected major changes in the control and inspection of the preparation and disclosure of financial statements. The need for these changes was made mostly evident when corporate frauds perpetrated using accounting tools started to be disclosed in the second half of the 1990s in both countries. In the United States more precisely in 2001 and 2002. The purpose of this thesis was to compare the main regulations enacted in Brazil and the United States between 1998 and 2004, which sought to improve corporate governance by structuring internal and inspection controls over the preparation and disclosure of financial statements in regulated industries. The following regulations were studied: Sarbanes-Oxley Act approved in the United States in 2002, Resolutions No. 2554 and 3198 passed by the National Monetary Council (CMN) in 1998 and 2004, respectively, Resolution No. 118 of 2004 of the National Council of Private Insurance (CNSP) and Circular Letters No. 249 and 280 issued by the Superintendence of Private Insurance (SUSEP) in 2004. For a comparative analysis, opinions were collected by sending out questionnaires to experts from the banking and insurance industries and Brazilian public companies on the effectiveness and sufficiency of the regulation studied. Also, academic papers, dissertations, theses and other works that analyzed those regulations were surveyed. The main conclusions show that the studied regulations are in general effective and efficient and address major issues involved in reducing the risks of preparing and disclosing inadequate financial statements; that the provisions set forth in Section 404 of the Sarbanes- Oxley Act have little effectiveness in reducing those risks and the costs are very high, specially for small companies; that in Brazil regulatory agencies of the banking and insurance industries and public companies, as well accountants? and auditors? professional bodies, must perform their inspection and monitoring activities more actively and widely.

In the theoretic part are described basic principals and methods of external and internal audit. First is defined the term, second is described historical development, legal regulations and operating techniques of audit. At the end is described output of the audit -- audit report. In the whole theoretic part are mentioned main similarities and differences between external and internal audit. In the application part is made external audit of the concrete company for the year 2009. The data are taken from the annual report of the company. It is followed by description of internal checks, which company does periodically. Last part is audit of financial situation. There are used indexes of financial analysis to evaluate the financial health of the company. Recommendation how to improve current situation are given based on this background.

The thesis deals with comparison of external and internal audit of financial reporting. Both disciplines were initially compared theoretically and described procedures were then applied in the form of performing an audit of a chosen company called XY. In conclusion main differences as well as congruencies were summarized.

O trabalho teve como objetivo analisar como as empresas comunicam ao público externo, por meio do resumo público de auditoria, suas dificuldades (representadas pelas não conformidades) para atender aos requisitos socioambientais da certificação FSC. Foi considerada a influência da configuração da auditoria na comunicação às partes externas. Foram coletados dados secundários de 95 resumos públicos das auditorias executadas entre 2010 e 2015, analisados pela técnica da análise de conteúdo com o intuito de identificar as principais áreas temáticas as quais as não conformidades evidenciadas se referiam, sendo mapeado um total de onze áreas temáticas. Com base em análise estatística descritiva (testes de Kruskal Wallis e Chi quadrado) buscou-se identificar as relações entre as características das auditorias definidas (Tamanho da equipe auditora, Diversidade na formação da equipe, Tempo de auditoria, Empresa certificadora e Evento de auditoria) e as áreas temáticas identificadas. Atendimento à legislação do trabalho; Plano de manejo; Qualidade do monitoramento do sistema; e Comunicação e relacionamento com o público foram as áreas temáticas com maior quantidade de não conformidades. Identificou-se que, com exceção de casos específicos, não há relações significativas entre as características das auditorias e a comunicação de não conformidades. No entanto, isso não quer dizer que a maneira como a auditoria ocorre não influencie a qualidade dos resultados obtidos, pois há outros fatores, como a qualidade e veracidade das não conformidades apontadas, a ser considerados. Os relatórios públicos de auditoria representam um avanço na comunicação dos resultados socioambientais obtidos, que convergem com a necessidade de transparência da certificação. Entretanto, há de se evoluir na busca da divulgação de resultados de maneira mais clara e organizada e na relação com comunidades do entorno dos empreendimentos florestais / The study aimed to analyze how companies communicate to the public through the public summary of audit their difficulties (represented by the non-conformities) to meet the environmental requirements of FSC certification. The influence of the configuration of the audit was considered on the results obtained in the process, results these communicated to external parties. We collected secondary data from 95 public summaries carried out between 2010 and 2015, analyzed by the content analysis technique in order to identify the main thematic areas which non-conformities referred, and mapped a total of eleven thematic areas. Based on descriptive statistical analysis (Kruskal Wallis test and Chi square) sought to identify the relationship between the characteristics of the audits defined (Size of the audit team, Diversity in the training of staff, Audit time, Certifying company and Audit event) and thematic areas identified. The Compliance with labor legislation; Management plan; Quality of system monitoring; Communication and relationship with the public were the thematic areas with the highest number of non-conformities. It was found that, except for specific cases, there is no significant relationship between the characteristics of the audits and the disclosure of non-conformities. However, this does not mean that the way the audit happen not influence the quality of the results, as there are other factors such as the quality and truthfulness of non-compliances identified to be considered. Public reports represent a breakthrough in communication of socioenvironmental results obtained, converging with the need for transparency in the certification. However, is necessary to evolve in pursuit of disseminating results in a more clear and organized way and at the relation with the communities that surrounding enterprise

The thesis attends to the issue of audit and is divided into two parts. The theoretical part deals with the definition of external (statutory) audit and internal audit and is divided to the chapters of the history, legislation, definition and role. Thereinafter describes a person of auditor, his activities, principles, methods and procedures which auditor uses. The end of the first part is about forensic audits and frauds. The application section includes at first comparison of professions and specifies the same as well as different features. The second part focuses on the relation and cooperation of external and internal auditor.