Regulatory

The aim of regulatory audit is to obtain assurance as to whether:

  • transactions and operations of the audited entity comply with the requirements of laws and regulations;
  • the design and application of the laws and regulations ensure transparency of the system.

Regulatory audit includes review of compliance of transactions and operations of the audited entity to the requirements of laws and regulations as well as to the planned results.

One of the aims of regulatory audit is to review whether the design and application of laws and regulations ensure transparency of a system, therefore the auditor must exercise the basic knowledge on the concepts of the system and the process.

A system is an internally organised, structured body the parts and elements of which are mutually related (according to some laws, rules or principles) and which has certain functions.

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