PROCEDIMIENTOS PARA LA OBTENCIÓN DE EVIDENCIAS DE AUDITORIA DE EGRESOS, COSTOS Y GASTOS

Summary

This video discusses the procedures for obtaining audit evidence in the auditing of income, costs, and expenses, focusing on the solidary sector. It explains the importance of verifying that resources are used effectively and in line with democratic and humanistic principles. Key topics include auditing techniques, the importance of reliable evidence, and compliance with legal frameworks. The video also covers the distinctions between income, costs, and expenses, and provides a detailed look into audit procedures and the tools used to ensure accuracy and transparency in financial management.

Takeaways

• 🔍 Auditing in the solidarity sector helps verify that processes within an organization comply with standards and that resources are used for democratic and humanistic activities.
• 📑 The goal of an audit is to obtain and evaluate evidence regarding the financial and operational behavior of an entity.
• 📝 Procedures and techniques in auditing involve the analysis of financial information provided by the audited entity to achieve desired outcomes.
• 🏛️ Solidarity audits measure the social impact generated by the objectives of solidarity-based organizations and assess the means used to achieve them.
• 📊 In audits, evidence is key to forming opinions and conclusions. This evidence must be reliable, relevant, and obtained from independent sources when possible.
• 🛠️ Audit techniques include observation, confirmation, calculation, inspection, and analytical procedures, which are applied to verify evidence and support audit opinions.
• 💼 The audit of income, costs, and expenses must classify these correctly, with a distinction between costs (recoverable) and expenses (non-recoverable).
• ⚖️ Auditors should evaluate the sufficiency and appropriateness of the evidence obtained to minimize audit risk and express a proper opinion on the financial statements.
• 📜 Audit procedures involve tests of compliance and substantive testing to verify the effectiveness of internal controls and the accuracy of financial statements.
• 🔎 Analytical procedures help auditors compare financial data to industry expectations and historical performance to detect irregularities.

Q & A

What is the purpose of auditing in the solidarity sector?

The purpose of auditing in the solidarity sector is to ensure that the processes within an organization are conducted correctly and that the resources obtained are used for the development of democratic and humanistic activities.

What are the key factors to consider when obtaining audit evidence?

Key factors include the nature of the audit process, the classification of documents, and the analysis of the information provided by the economic entity. These help in reaching the audit's objective.

What is the significance of audit evidence in financial audits?

Audit evidence is crucial as it helps auditors form conclusions based on the information analyzed. It includes financial records and other information that supports the auditor’s opinion on the entity’s financial health.

How is 'cost' defined in the context of solidarity organizations?

In solidarity organizations, 'cost' refers to the value of resources spent in conducting activities that generate income. Costs are directly related to the products and services the organization provides and are recoverable through revenue generation.

What is the difference between 'cost' and 'expense'?

The main difference is that costs are recoverable through revenue, while expenses are not. Costs are tied to production activities, whereas expenses are associated with administrative or non-recoverable financial outflows.

What are substantive tests in an audit?

Substantive tests are used to verify the accuracy, integrity, and validity of individual account balances or transactions. They involve reviewing supporting evidence for each account to ensure proper financial reporting.

What techniques are used to gather audit evidence?

Techniques include observation, confirmation, recalculation, inspection, and analytical procedures. These methods help auditors verify the accuracy of financial data and assess the effectiveness of internal controls.

How does the adequacy of audit evidence impact an audit report?

The adequacy and sufficiency of audit evidence ensure that the auditor's report is based on reliable information. Higher quality evidence can reduce the need for large quantities of evidence and ensure a more accurate audit opinion.

What is the role of compliance tests in auditing?

Compliance tests aim to verify that internal controls are being implemented effectively. They assess whether procedures and policies are followed consistently and are functioning as intended by the organization's management.

Why is it important to differentiate between domestic and foreign currency transactions in an audit?

It is important because foreign currency transactions must be converted into the local currency (e.g., Colombian pesos) based on the applicable exchange rate. This ensures accurate financial reporting and compliance with accounting standards.