THE IMPACT OF AUDITING ON THE FINANCIAL POSITION OF A BUSINESS

Abstract

The auditing function is one of the most important among the companies as it has several functions that mean to enhance the controlling and monitoring in these companies as it has a major and significant role in designing and developing the control system and support the corporate governance. It contributes in measuring and evaluating the risks surrounding the work environments. In addition to that it helps in measuring and evaluating competence and efficiency performance and it maximizes the company’s capacity to employ the best methods to use the available resources to the get the most possible quality and so that the entity's goals are met. For this importance this study aims to identify the role of the audit in controlling the financial position and managerial performance in these company taking in considerations all the aspects that would limit this purpose of the audit department. These factors would be the business environment, the qualification of the auditor, the laws and regulation, the extent to which the companies are committed to these laws and other factors that will be discussed in details throughout this research to highlight the current situation and any amendments needed to be undertaken in the coming period so that the audit function of controlling the position of a business and performance on the managerial and the financial will be effective.