DOI: https://doi.org/10.18371/fcaptp.v2i15.25021

Estimation and improvement of quality control system of audit services in Latvia

Л. М. Веровская

Abstract


Audit activity is a variety of service industries, and cannot be developed independently of the major trends in this area. A strategic direction in the development of audit is creation of the international market of auditing services with unified rules and standards regulating audit, and creation of uniform quality criteria. This article examines the concept of quality audit service, analyzes the main problems of legislative and methodological character in the area of external and internal audit control inLatvia, and considers opportunities and ways of improvement based on international experience. The research results can be applied to construction and development of the systems of external and internal audit control, which will be providing the most reliable information about the state of business of companies-customers, their performance and prospects for sustainable development. The financial stability of a company, confirmed by the independent, objective opinion of an auditor, increases the growth of investments, the price of shares, improves the company’s reputation in the financial market and ultimately contributes to the stable development of a region.


Keywords


quality system of audit; quality requirements; criteria; internal and external quality control

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ISSN (print) 2306-4994, ISSN (on-line) 2310-8770