endurskoðanasaga

Endurskoðanasaga refers to the history of auditing. It traces the evolution of auditing practices from early forms of accountability to the complex, regulated profession it is today. Initially, auditing was a rudimentary process focused on verifying transactions and preventing fraud, often performed by individuals tasked with ensuring financial integrity within organizations or governments.

As trade and commerce grew, so did the need for more sophisticated financial oversight. The Industrial Revolution brought about larger companies and more complex financial structures, necessitating formal auditing procedures. This period saw the development of accounting standards and the establishment of professional bodies for auditors. The focus gradually shifted from mere detection of fraud to providing assurance on the fairness of financial statements.

The 20th century witnessed significant changes in endurskoðanasaga, driven by major economic events like the Great Depression and increasing corporate scandals. This led to more stringent regulations and a greater emphasis on independence and ethical conduct for auditors. The rise of international accounting standards and the globalization of business further shaped modern auditing practices. Today, endurskoðanasaga is a continuous process of adaptation to technological advancements, evolving business environments, and changing regulatory landscapes, aiming to enhance trust and transparency in financial reporting.