კონფერენცია

∘ Dali Sologhashvili ∘ Tatia Udesiani ∘
ISSUES OF QUALITY ASSURANCE AND CONTROL OF AUDIT ACTIVITIES

Summary

Audit activity is the work performed by an auditor or an audit firm on the basis of International Standards on Auditing, which is an audit finding that reflects the soundness, fairness and completeness of the financial statements. And, the auditor and the audit firm are the persons performing the audit activity, who are required to comply with the IESBA Code of Ethics for Professional Accountants and to have their own quality control system policies and procedures in line with International Standards on Quality Control (ISQC). The article presents both the general theoretical as well as the current situation in practice based on the analysis and quality improvement of auditing activities and directions for its improvement.

Keywords: audit, internal control, quality control, monitoring.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Dali Sologhashvili ∘ Tatia Udesiani ∘ ISSUES OF QUALITY ASSURANCE AND CONTROL OF AUDIT ACTIVITIES Summary Audit activity is the work performed by an auditor or an audit firm on the basis of International Standards on Auditing, which is an audit finding that reflects the soundness, fairness and completeness of the financial statements. And, the auditor and the audit firm are the persons performing the audit activity, who are required to comply with the IESBA Code of Ethics for Professional Accountants and to have their own quality control system policies and procedures in line with International Standards on Quality Control (ISQC). The article presents both the general theoretical as well as the current situation in practice based on the analysis and quality improvement of auditing activities and directions for its improvement. *Keywords:* audit, internal control, quality control, monitoring.