Auditeerimisi

Auditeerimisi is an Estonian term that designates the act and process of auditing, typically involving the examination of financial statements, internal controls, governance processes, and compliance with relevant laws and standards. The word derives from the verb auditeerima (to audit) and is commonly used in Estonian professional literature, regulatory texts, and corporate reporting to refer to the overall activity of performing an audit or assurance engagement.

In practice, auditeerimisi can refer to external audits conducted by independent firms commissioned by shareholders or regulatory authorities, as well as internal audits carried out by an organization's own internal audit function. Its use spans public companies, state entities, and private firms, and it is closely linked to financial reporting, risk management, and governance.

The typical process includes planning and risk assessment, evidence collection, testing of accounting records and controls, evaluation of material misstatements, and the issuance of an audit report or assurance statement. Techniques commonly used are sampling, substantive testing, control testing, inquiry, observation, confirmations, and increasingly data analytics.

Auditing is governed by professional standards and regulatory requirements. In Estonia and many jurisdictions, external audits follow international standards on auditing (ISA), while internal audits align with standards issued by internal audit organizations. Core ethical requirements emphasize independence, professional skepticism, confidentiality, and objectivity, with quality assurance and ongoing competence as ongoing obligations.

See also: audit, financial audit, internal audit, external audit, governance, risk management.