Audit practice and the modern era of standartization

Abstract

The scientific paper discusses the main idea, the goals and the role of the audit as well as its significance in the conditions of the market economy and the perspectives of the audit regulation and development in Georgia. Moreover, experience of the auditing business in the foreign countries. In the paper the significant attention is paid to the organizational matters of the audit performance and is presented the procedures of the audit conclusion composition, its structure, shape, content and status. Also, is reviewed the next stage after the audit accomplishment – the discussion of the audit conclusions and reports (Act, Statement); the process of its appeal, the forms of the responds and the legal aspects of the detected results. In Georgia audit is held according to the International Standards on Audit (ISA). International standards on Audit (ISA) represent the standards approved by the audit and the International Auditing and Assurance Standards Board (IAASB) or its entitled body, which is contained in the international official Reference Book of the above-mentioned body or the assurance services.