Modern approaches of improving the quality of external audit in the banking sector (გარე აუდიტის ხარისხის ამაღლების თანამედროვე მიდგომები საბანკო სექტორში)

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Ivane Javakhishvili Tbilisi State University Press
In the context of globalization, proper regulation of audit procedures requires multilateral international cooperation in order to carry out supervisory reform that ensures the stability of the banking system, its efficient functioning, the creation of a competitive environment and the reduction of risks. These above mentioned problems in the banking sector can be solved through the improvement of accounting systems and joint practical activities with foreign partners. The requirements for quality control of audit services are set by international auditing standards as well as local legislation. The article discusses the problems, tasks, opportunities and positive results related to the implementation of EU standards. Conclusions have been drawn up to assess the quality of an external audit of the bank and to improve its supervisory policy.
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audit, banking sector, financial statements, general communication framework, audit quality
International Scientific Conference Dedicated to the Establishment of the University and the 100th Anniversary of the Faculty of Economics and Business “Covid 19 Pandemic and Economics”, Tbilisi, 2022, pp. 464-468