Students, so we're going to discuss now audit types. So we will start with in terms of who performs the audit. And the one who performs the audit may either be an external auditor.
an internal auditor okay so what do you think will be the type of audit if it is an external auditor of course it will be called external audit okay then internal auditor it will be internal audit okay now what are the other um well not what but who are the other auditors no we have forensic auditor okay we will discuss uh in detail the who and the what later no um the forensic auditor or what do you think it's called there? of course forensic audit right? because That's what she's performing. So, can it be that all they're doing is what they call an auditor? That's what it will be?
tipong tawag sa audit normally normally so may tinatawag din tayo na ah yung ngayon na popular you have the statutory auditor or the government auditor okay and Anong tawag dyan? Government audit. Diba? And an audit, ang tanong dyan, yung external, syempre, are they part of the organization? No.
The last external auditor performed. services they perform at the station by the attest function okay the internal auditor they are part of the organization okay forensic auditor Sometimes they are part, sometimes they are not. Okay?
Eh kasi ma'am, ano ba ginagawa sa forensic audit? Okay? Ano nga ba ginagawa sa forensic audit?
Pag sinabing forensic audit, yung pag alam niyo yun sa police work, di ba may forensic doon yung... You will look at cold cases, those that have been unknown for a long time, and you don't know what the reason is. You are looking for the evidences.
So, it means that when it comes to forensic audit, you need to have a skill in accounting. may skill pa sa investigation. Eh bakit ma'am yung iba ba hindi evident yung yung ito yung investigation? Eh mas kailangan sa forensic audit yan.
Actually may course pa nga class eh sa forensic no bachelor of science in forensic accounting merong inooffer sa Baguio diba although meron din naman tayong bachelor of science in internal auditing Tapos, sa Pilipinas, itong statutory or government accounting, may special program sila for you to be trained. Kasi nga, iba ang focus ng government accounting. Okay, o, i-define natin isa-isa ito.
So, what is... an external audit okay let's go here first what is an external audit the external audit would actually be a three-party system because it is included in the insurance services of which you have to express opinion okay in your audit report and you base your audit on auditing standards of which ano tong mga standards na to okay oh yeah in your experience point and on your mind auditing standards now say you'll be not ha criteria new in order to ever wait whether The records of the organization is accurate, complete, and does it conform with the accounting standards. you have to determine if it is properly recorded properly measured and properly presented okay because you would like to give an assurance to the user of the financial statement normally is an external audit and common Jan is your financial statement audit okay so so fs audit uh actually external auditor pwedeng gawin to ng internal auditor okay so ang ang fs audit pala ay pwedeng external pwede ring ano Wait, my arrow is wrong, class. The FS audit can be external, it can be internal audit.
So, ma'am, if I'm doing internal audit and FS audit, what will I do? because what is the focus of the internal audit? it would be control evaluation actually, when it comes to external audit, when it comes to financial audit, it is the concern meron tayong standards na gagamitin ba ng external auditor yung work ng internal auditor kapag ka what had been undertaken is a financial statement audit. So, merong standard yun.
Okay? So, The internal audit, because it is in-house and focuses on control evaluation, it also focuses on process evaluation. It also looks at asset protection. It may even look into legal compliance. Although, ito...
In internal audit, when it comes to legal compliance, you can call it compliance audit. Compliance audit can also be done not only in the legal aspect. If you are following the policies of the the rules of the organization.
So, kung mapapansin nyo, they are interrelated. You cannot do away with the interrelationship of the audit that you are doing. Kasi pagka pala ang pinag-uusapan, financial audit, pwede siyang external-internal.
Tapos pag ang pinag-uusapan sa internal audit, may legal compliance, eh pwede rin naman palang ang tawag doon, compliance audit. Kasi hindi lang naman legal aspect yung tinitingnan. they are also looking at whether did you conform with the policies of the organization because Internal audit, it will benefit the organization, the business organization itself.
Since you're doing this for you to improve the processes, for you to improve the efficiency and the conduct of activities of the organization. That's why, look at this. IPO, you can see here, process and... You have to look at how you monitor because you have control evaluation and of course you are also looking at if all of your resources are being protected.
Now, what are the other audit that we can actually... have aside from you have the external audit the financial audit the internal audit and your compliance audit you that an auditor can do this internally or externally. Sometimes, we call it operational audit.
Actually, you can also think of operational audit as internal audit. That's why here, when it comes to operational audit, you are also looking at the goals, you are looking at the planning processes, you are looking at operating results. Dito natin pwedeng isama ang strategic audit.
Dito natin pwedeng isama ang sustainability audit. Kaya lang kasi pag sustainability audit, dito kinukumpir mo yung sarili mo sa ibe. You compare your practices. So sustainability, you are comparing the practices of the organization with other companies because you have to know the best practices. You need to...
You know, we have what we call sustainability. report and that would be one of your real-life application to the organization. So the sustainability report would actually be prepared to measure and disclose your effort in order for you to somehow be able to support your stakeholders demand and if you say sustainability, what is this in a relationship? will you last long? do you have a prospect as an organization?
very positive will you be able to hold on? now, the strategic audit This is what you evaluate, the strategies of the organization. You look at the extent of the implementation of strategies in relation to your BMGO. You will see that there are many subjects in management and one is strategy. strategic management okay so so kasama sa operational audit ang sustainability at strategic audit okay ano pa yung mga ibang pwede nating tawagin audit so hindi lang actually lima kaya lang isinama kasi na natin yung iba within the major classification.
So, ang operational audit, pwede rin siyang internal audit. And the one who performed the sustainability and strategic audit is auditors within the organization. Yan, alin dito yung kailangan accountant ka?
O, alin dito sa mga pinag-usapan natin? Siyempre, itong external audit. You have to be a CPA. Okay?
Then, pag gumawa ka ba ng internal audit, kailangan mo bang maging CPA? No. Kailangan mo bang maging, hindi, hindi, ano. Kailangan mo bang maging certified? Not necessarily in the Philippines, diba?
But we have certified internal auditor, diba? O, meron tayong CIA. Tapos ang forensic, meron din. Certified forensic auditor.
So, ay, ma'am, lahat pala may mga certified certified? Yes. Okay. Kahit nga yung mga quality audits, diba? Meron din.
certification. Okay. So, what else can we add? That we can audit?
What else? Think about it. If you have something to think about, let's include compliance audit.
ah the government we haven't detailed yet right? let's go to the tax audit first ma'am who is doing the tax audit? ah that one this is done of course by the government like the BIR, they audit the business organizations if they are complying ma'am complying?
yes, it's like compliance that's why compliance is important audit na pinag-usapan natin, pwedeng diba, natatandaan nyo kanina, o balik tayo balik, balik, ayan o legal aspect, policies o pwede pala ditong sa legal aspect, yung tax audit kasi ayaw at sa gusto mo susunod ka o ayan ano pa yung pwede natin ilagay you have information audit okay or information system audit is this what it is? because now there is a lot of automation in the accounting system You have, kaya nga may pinag-uusapan about big data, kaya nga pinag-uusapan yung sa blockchain, no? Kaya may mga discussion na sa seminars on accounting about big data and blockchain technology. technology because we have an information system auditor and it also has certification you have your certified information system auditor okay and why do we need certification certification because this would show the competence level and In a way, you would like to standardize the practice of the profession. Okay?
Or now, meron pa ba kayong naisip na ibang audit na hindi natin nailagay? Sige nga, magdagdag pa kayo. na makikita ninyo no i would uh include in my next discussion the other types of audit that we have not discussed because uh we'll try our best to limit our discussion up to 20 minutes 10 minutes lang eh no but it's not enough okay so thank you and good day