Auditimet

Auditimet, in Albanian usage, refers to formal audits or examinations of records, activities, or systems conducted to verify compliance with applicable standards, the accuracy of information, and the effectiveness of controls. They are performed by internal auditors within organizations or by external independent firms, and they may be mandated by law, regulation, or governance policies. Auditimet aim to provide assurance to stakeholders that financial statements are reliable, that operations comply with laws and policies, and that resources are used efficiently.

Auditimet follow professional standards established by international bodies as well as national authorities. Depending on their scope, they cover various subject matters: financial audits assess the fair presentation of financial statements; compliance audits verify adherence to laws, regulations, and internal policies; operational or performance audits evaluate economy, efficiency, and effectiveness; and information systems audits examine controls over data, security, and IT processes.

The audit process generally includes planning and risk assessment, evidence gathering, testing of controls and substantive procedures, evaluation of findings, and reporting followed by management responses and corrective actions. Audit reports typically express an opinion or conclusion, summarize material findings, and provide recommendations.

Limitations exist: audits provide reasonable assurance, not an absolute guarantee; they rely on sampled evidence, representations by management, and inherent limitations of testing. Effective audits contribute to governance, risk management, and accountability by informing boards, audit committees, and management.