COMPARATIVE DIFFERENTATION IN AUDIT: CASE STUDY – REPUBLIC OF SERBIA AND EUROPEAN COUNTIRES
Keywords:
audit, concept, classification, Republic of Serbia, EuropeAbstract
The paper gives a review of the significance and specificity of the audit process with a focus primarily on the public sector and the entities that represent the state apparatus that is subject to audit, but also on the aspects of its functioning in the private sector and on the business of companies in both the Republic of Serbia and the countries of Europe. The comparative analysis of terminology, organization and classification of audits shows the differentiation characteristics and the position of the Republic of Serbia in relation to European countries, as well as how it affects the application and extent of the operation of international accounting standards, international auditing standards and international financial reporting standards in the analyzed countries. Audit as an objective, systematic and complex process of gathering information and evidence, determining the real state of the company, from one country to another is interpreted differently by the professional public, and the paper emphasizes the similarities and differences of conceptual interpretation and operation of the same.
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