For organizations, there is an essential concept that is focused on the

improvement that take place inside the organization, audit, besides

implying the detection of irregularities in the financial reports that mean
fraud, it allows to form an opinion based on the analysis of financial
reports, this is done by the auditors and they make sure that the data
included in the balance sheet, income statement, clash flow, and others,
is correct. In an organization, the audit ensures that the organization in
its procedures follows the rules previously established within the criteria,
for example, in the legal aspect, that is why it represents that
importance. Types of audits. There are different types of audits,
this can be attributed to the fact that each company is different from the
other existing ones, so according to the activities and procedures carried
out, it will be defined what type of audit is useful, it varies depending on
the needs of the company. Starting with the financial audit, also it can
be known as an audit of financial statements, basically, it revolves
around the base of the definition of an audit, that is about how it
analyses carefully the financial statements of the organization in order
to evaluate the processes that take place in the organization, its
purpose is to verify that the amounts in terms of money of what the
company buys, as well as what is sold, if these are correct or if any
quantity it is not actually how is presented in, for example, the balance
sheet and cash flows, also other related statements of income. To
explain in more detail what the financial audit mainly encompasses, it
can be said that it creates a clearer and new perspective for a more
accurate analysis of the financial statements, this implies that if there is
any imbalance in the information presented in the financial statements,
like it was mentioned in the example before, where the data it is not
presented correctly in the balance sheet or cash flow, in cases like that
choosing to carry out a financial audit will significantly improve the
processes carried out by the organization, because the financial audit
can help to ensure that the data is complete and correct in the financial
statements. Internal control is a concept that is also related to financial
auditing, it is worth highlighting its meaning because it is part of the
benefits in a financial audit, internal control can be basically defined as a
process, with steps that are focused on the achievement of the
organization’s objectives through efficiency and effectiveness. From the
concept you can clearly notice the similarities between internal control
and financial auditing, these are directly related in aspects such as what
they base on the examination of the financial statements, in this case,
verify that the operations of the company are within of the standards
stipulated in accordance with the Law would be a similarity between
both concepts, in addition to the fact that the financial audit allows
recognizing imbalances and even more importantly, fraud, as internal
control prevents fraud, it can be concluded that both the internal control
such as financial audit are with a certain focus on preventing and
eradicating fraud, all in order to achieve the proper functioning of each
activity carried out within the business. The importance of the financial
audit is essential to the point that if the objectives established by the
organization require a suitable performance in both its internal and
external operations then financial audit is a good option, because it is
based mainly in the responsibility. When the decision is made to employ
the use of financial auditing in an organization, it will bring various
benefits to it in every aspect that is involved. To mention some, with the
financial audit, all areas such as management, accounting, marketing,
between others, of the company are taken into account so that no one is
left behind and there is coordination, as well as harmony between the
parties to take advantage of the skills they have, without forgetting that
it is also normal to find certain areas of weakness, in the same way,
financial auditing works to offer an easier way of locating these same
areas mentioned above in order to be able to work on them, looking
through an analysis for new methods to improve efficiently in the
aspects that need it. The compliance audit is it oversees monitoring the
financial information of a company, within the legal parameters, since
the existence of a company entails tax obligations that must be met
such as paying taxes for the rent of some premises for the production or
storage of products that are distributed and sold. It is part of social
responsibility as a member of society to comply with these obligations.
As in the two types of audits mentioned above, in this type of
compliance audit a relationship will be found in the financial aspect of
the company, more specifically in the information that is collected in the
financial statements. Having correctly registered the amounts of income
and expenses is what the definition of this type of audit is mainly made
up of. The compliance audit can be attributed to being able to acquire
knowledge about the economic state, which can be good or bad
depending on how the company carries out its production, questioning
whether it is sufficient according to the demand, ensuring that an extra
amount is obtained to the money that is used in production for
investment in the improvement of, for example, the company's facilities
and its processes, also adding profits to the employees and bosses in
charge of said company. Having defined the financial or economic status
of a company benefits at the moment in which there is an interest from
outside it to invest in it and do business, on the other hand, this will also
influence the decisions or the path that the company takes. The analysis
of the financial state of the company can be carried out either by
someone outside the company, such as the State to corroborate the
legality of its activities or the accounting department of the same
company, since it refers to amounts in terms of money, analyzes your
own situation, these audits are known as external and internal
respectively. For every company, its own evaluation should be essential
in the aspects that are key to maintain a constant correct operation,
referring to the different procedures necessary in order to generate
economic benefit with its efficient and effective operation, in the
operational audit the Internal control, as this is part of the purpose of
carrying out this type of audit, since it is also verified that there is no
weakness in the way in which the company prevents fraud, among other
things such as errors in financial information that lead to imbalances.
and at the same time to greater future problems based on that same
situation. To be more specific, the meaning of the operational audit
revolves around one of the most important elements in a company,
which has been its structure, because the effective functioning and use
of the skills possessed by the company depends on an efficient company
organizational structure, those two concepts, the efficiency and
effectiveness are the bases for what the operational audit will evaluate,
it is about being able to achieve objectives previously established and in
which way they are achieved, if it is through a lot of effort and a lot of
waste or if it is the opposite. Through the order and distribution of
responsibilities, the operational audit should be considered, basically it
consists of the evaluation of the structure of a company, which ensures
its correct analysis to search for areas of weakness and therefore also
opportunities to improve significantly between their way of working and
the arrangement of positions in it, this meaning that it is as well for the
hierarchy of the company. The company needs to be clear about its
objectives so that it can take actions, or decisions, in businesses and
investments that are focused on achieving those objectives or future
goals. Taking into account the aforementioned, understanding the
operation of the company through its structure in order to evaluate its
procedures is part of the operational audit. The ordering of priorities in a
company is necessary when sufficient efficiency is not found in certain
areas, such as a system, all its parts need to function correctly or
otherwise it will not fulfill its main function that has been established in
its creation. The evaluation in the operational audit, being focused on
the hierarchy and the way in which a company is operated, has the
purpose of knowing where the business is failing, as well as the factors
that favor it to take advantage in the market, by the same as the areas
of the organization that function according to expectations but show
potential, so that new methods can be implemented for their
improvement. Likewise, it must be taken into account within the subject
of this type of operational audit that there are also differences between
companies, for example, there are private companies in which their
reason for existence is mainly the profit obtained from the company, on
the other hand A public company can be defined as one in which the
government is most involved, so it must know exactly how it works, so
the evaluation of the operational audit is necessary in those cases. It is
also worth mentioning that social organizations, as their name indicates,
are completely focused on benefiting from the social aspect. To
conclude, the operational audit is useful and adaptable for any
organization or company and can allow them to achieve their objectives
efficiently if its evaluation is done correctly and all the details are taken
into consideration to improve and prevent from waste of time and
resources that can lead the durability of the company to being in risk.
The correct functioning of the structure of a company depends on the
operational consultancy as defined above, but if it is the processes
carried out by the company, then these will depend on the evaluation
carried out by the integrated audits. What the integrated audit does is
that every activity or process carried out by the company must go
through its detailed analysis to confirm that they are being carried out
as expected, as well as if the resources used daily for those processes
are being made the most of it and not being wasted. Approaching to the
financial audit, the integrated audit also looks at both the financial
statements and internal control, this because they are related to the
processes carried out by the company and there it is reflected in a more
noticeable way when something is not there. functioning as it should in
terms of money, which is what the audit in general is mainly focused on.
The generally accepted accounting principles or GAAP for its acronym,
are the principles on which an integrated audit is based for its
evaluation, taking them as criteria to determine whether or not they
comply with the financial statements of a company. The rules in general
that regulate how the company works are also necessary, since they are
established means that it can also be evaluated within those same
criteria, and as internal control was involved in the financial audit, in the
same way in this type Only that more than in internal control in general,
the integrated audit pays more attention to the way in which the
internal control of the company is structured. This type of audit can be
related to the operational audit, while this is concerned with the
efficiency and effectiveness of how the company's objectives are being
achieved, the integrated audit similarly evaluates the efficiency of what
the company's objectives entail. Although this type of audit can be
easily differentiated by a certain characteristic. As is well known, to
exist, companies generate a certain environmental impact, whether
positive or negative, when carrying out their production activities, an
example of the environmental impact that a company generates during
its production process, could be if it requires deforestation to occupy
space for the production plant, the storage of resources, between
others. Integrated audits evaluate this environmental impact generated
by companies; it is essential because it is useful to avoid irreversible
consequences because of the damage generated to the environment. As
for the principles of integrated auditing, these have certain basic
concepts, starting with the fact that the company must maintain
professionalism, which means that it will have independence. It is worth
mentioning that the company will be focused on what it what it is
specialized in or what is known as the professional activity. Being
constant is another element part of the principles of integrated auditing,
because when the company has established objectives, to maintain a
constant verification of the current situation of how the objectives are
being carried out is also part of integrated auditing. As its name
mentions, in this type of audit, integrity is a factor that generates great
impact and is influenced by it in the majority, this is because within the
evaluation in the integrated auditing process, it covers all areas of the
company, as well as its processes, and goods. When a company needs
to be sure that it is completely in order in its way of operating, as well
as if its various resources are being used correctly, there is the
integrated audit that offers as one of the notorious advantages that
carrying out this entails is that this ensures a complete, as well as
detailed, analysis of the company that performs it. Among the criteria or
conditions to be met in the integrated audit is that the reports made by
the auditors in charge must be presented physically and exclusively in
writing, making sure to also comply with the correct structure that is
due for a report, also including the emphasis-of-Matter which will be
depending and based on how much evidence does the auditor gets. To
conclude, all the different types of audits focus mostly on internal
control, with these audit processes it is possible to constantly improve
the different areas and production activities because they implement a
detailed analysis to detect errors, imbalances in the information that it is
obtained from the financial statements in terms of money, thus avoiding
fraud among other things that are detrimental to the progress of the
company, without audit, no company would be able to control nor
improve its processes or focus on the priorities or in the areas that they
need to work in. To know the situation of a company through an audit
can be helpful when talking about making important decisions about the
future of the company.
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