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Types of Audit

The State Audit Office performs three types of audit:

  • financial audit, which includes expressing an opinion on the review of financial statements of the audited entity;
  • performance audit, which includes review of economy, efficiency and productivity of the audited entities;
  • regulatory audit, which includes review of compliance of transactions and operations of the audited entity with the requirements of laws and regulations as well as with the planned results.

Types of Audit

 

 

Financial Audit

Performance Audit

Regulatory Audit

The aimTo obtain an assurance as to whether the financial statement provides a credible view on the financial position of the audited entityTo evaluate whether the operations of the audited entity are efficient, productive and economically viableTo evaluate whether the transactions and operations comply with the requirements of laws and regulations
Evaluation criteriaStandardized criteria which are usable in all auditsDifferent for each auditStandardized criteria which are usable in all audits
MethodsMore or less standardizedDifferent for each auditMore or less standardized
RegularityPerformed regularlyPerformed when issues are revealed in the respective fieldPerformed when issues are revealed in the respective field
ReportsStandardized Various content of reportsVarious content of reports