Revizije

Revizije, in plural form revizije, is a term used in several South Slavic languages to refer to audits or revisions. In accounting and public governance, revizija denotes the independent examination of an organization's financial statements and underlying records to verify accuracy and compliance with applicable standards. The concept also encompasses broader examinations of operations, compliance with laws and policies, and performance with respect to objectives. The aim is to provide assurance to stakeholders such as investors, regulators, and the public.

Types include financial audits of financial statements (external or independent audits), compliance audits that assess adherence to laws and policies, and operational or performance audits that evaluate efficiency and effectiveness. Information systems audits examine controls over information technology and data integrity. In the public sector, special audits may address service delivery, budgeting, and preventing fraud.

Auditing practice is guided by international or national standards, such as the International Standards on Auditing (ISA) and guidance from supreme audit institutions (ISSAI). Many jurisdictions require revizije to be conducted by independent professional entities or state audit bodies to ensure objectivity and accountability.

The typical revizija process includes planning and risk assessment, testing of internal controls, substantive procedures, and evidence gathering. Auditors evaluate findings, form an opinion on whether the financial statements present fairly, and issue an audit report with recommendations.

Outcomes may be an unqualified (clean) opinion, qualified, adverse, or a disclaimer of opinion for financial statements, depending on evidence. In addition to financial statements, revizije often include management letters with suggested improvements.

The term can also refer to revisions in software, projects, or processes in a broader sense, depending on context.