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Vývoj externího auditu z pohledu auditorů a jejich klientů
Hlaváčková, Monika
Hlaváčková, M. The evolution of external audit from the perspective of auditors and their clients. Diploma thesis. Brno: Mendel University, 2023. This diploma thesis focuses on the current state of the audit profession in the Czech Republic from the perspective of auditors and users of financial statements. Firstly, a questionnaire survey was applied to identify if accounting entities know the purpose and objective of external audit and the size of “Audit expectation gap” was quantified. The "Audit expectation gap" was subjected with descriptive statistics, also Student's t-tests were applied for identifying dependence between groups of respondents, and regression analysis was performed. Another objective was to determine the opinions of statutory auditors on the area of external audit legislation as well as the position on the "Audit expectation gap". Based on the findings of the practical part of the diploma thesis, these aspects were compared with the results of research around the world.
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Forensic investigation and economic crime
Švajnochová, Gabriela ; Müllerová, Libuše (advisor) ; Hótová, Renáta (referee)
Topic of this master thesis is forensic investigation and forms of economic crime which can be detected during the investigation. First chapter focuses on forensic investigation and its comparison with statutory audit. In the second chapter is performed analysis of forms of economic crime in the Czech Republic, Southern and Eastern Europe and globally. Knowledge from the previous chapters is applied to the real forensic investigation performed in the Czech Republic, forensic investigation of project OpenCard.
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Inventories in company focused on machinery industry
Stržínková, Veronika ; Janhubová, Jaroslava (advisor) ; Pakšiová, Renáta (referee)
The diploma thesis is focused on inventories accounting in the company ŽOS Trnava, a. s. Part of the thesis deals with inventories in general, classification, valuation, provisions and disposal of inventories. The thesis describes internal and external audit process, including audit phases. In the practical part of the thesis, the theoretical knowledge is applied to the company. The scope of the diploma thesis is to describe inventories, internal audit and the audit process regarding the inventories, and to apply the theoretical knowledge on the real company.
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The importance of audits of banks with respect to the Czech national economy within years 1993 – 2014
Rott, Michal ; Zamrazilová, Eva (advisor) ; Štěpánek, Pavel (referee)
The aim of this master thesis is to evaluate the importance of audits of banks with respect to the Czech national economy within years 1993 - 2014. The primary purpose of this study is to determine the value of both external and internal audits as well as of internal control systems and of bank supervision in order to maintain a long-term stability of banks on the Czech financial market. In the light of knowledge gathered from the Czech banking crisis (late nineties of the 20th century) and from the latest widely-spread economic and financial crisis (2008), it has been proved that low-quality audits may consequently contagiously affect a great deal of financial institutions. As for the economies, a collapse of a larger number of banks in the short run may cause higher social costs (mainly due to government budget deficit when bailing out affected banks and to economic downturn). Analyses suggest that these crises have been a result of a confluence of many factors. In particular, a poor a management of banks and its interest in short-term profit-maximizing goals, trades with highly risky financial instruments (especially in the US and in the EU), likewise failures of both auditors and bank supervisors, account for some of the main factors. Moreover, it has been concluded that an institutional background (a weak law system in the Czech Republic) played an important role, too. The quality of audits was also influenced by an everlasting conflict of interest of statutory auditors who have been paid by the audited banks. This probably resulted in an unethical behavior of auditors. Furthermore, auditors were lacking the state-of-the-art knowledge in terms of rapidly developing financial instruments. As a matter of fact, auditors did not address all the risks the banks were facing to the stakeholders. This study indicates that both external and internal audits along with a bank supervision are important, nonetheless, not sufficient conditions assuring a long-term stability on financial markets.
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The significance of IT controls for statutory audit
Reich, Jan ; Doucek, Petr (advisor) ; Kitto, Zuzana (referee)
Over the last few decades, organizations have become increasingly dependent on information technology for the support of their business processes. IT has brought many benefits to the operations of organizations, as well as new risks. Internal control systems implemented to mitigate business risks thus needed to be extended to include a new group of IT controls. One of the areas of business operations that has been strongly associated with IT since the beginning of its widespread use is accounting. This master's thesis examines the effect of IT controls on financial statements of an organization as well as an audit of these financial statements. Principal aim of this thesis is to identify a set of IT controls relevant for a statutory audit. Emphasis is placed on controls covering the areas of information security, computer operations and change management related to information systems. A secondary aim is an analysis of control weaknesses (their nature and frequency of occurence) noted in the presented set of IT controls in a sample of statutory audits conducted in the last four years. For the most common control weaknesses, risks as well as possible causes are discussed and recommendations for improvement are provided.
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External and internal audit in practice
Zadáková, Veronika ; Roubíčková, Jaroslava (advisor) ; Müllerová, Libuše (referee)
This thesis deals with external and internal audit in practice. It contains historical evolution and progression of internal and external audit, their functions and goals as well as risks and frauds in audit and its legislation. Significant section of this thesis focuses on working procedures in internal and external audit. These procedures are divided by audits phases. The main goal of this thesis is to transfer theoretical knowledge into practice. In the practical part there is performed fictitious internal and external audit in company Thomas Cook Ltd.
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