The present study refers to the signification threshold, as a basic element which influences the development and the quality of the entire financial audit process. During the article it is underlined the fact that the way of determining the signification threshold inside the audit missions is based on the professional reasoning of the auditor, fact that determines the appearance of some significant differences both in choosing the benchmarks as a calculus basis and to the quantitative level of them. The study comprises reference to the International Standards of Audit which are applied in Romania starting 2009 and to the Technical Audit Norms who are applied in Spain starting 1991 and which are expected to be replaced in the near future. In the end of the article it is underlined the necessity of the appearance of some regulations which would guide more the auditors in framing the professional reasoning and establishing at least of some minimum limits, which will lead to establishing a more homogeneous signification threshold.
Dobro?eanu, L., Dobro?eanu, C. L. (2002). ”Audit concepts and practices–national and international approach”, Economic Publishing House, Bucharest.
Domni?oru, S. (2011). ‘’Statutory audit and financial communication’’, vol. I, Economic Publishing House, Bucharest.
Domni?oru, S., Briciu, S., Popa, I. E., Bunget, O. C. (2010). ‘’Statutory audit versus financial communication. Why and how?’’, Financial Audit magazine nr. 7, 3-13.
International Accounters Federation. (2009). “International Audit Standards Manual and Quality Control- Financial Audit”, Irecson Publishing House, Bucharest.
Benau, G. M. A. (2012). Armonización de la auditoría en Europa, Primer Congreso de la Contabilidad y Finanzas, Facultad de Ciencias Económicas de la Universidad Nacional de Colombia, 30.08.2012.
Herreros, E. J. (2010). Normas Internacionales de auditoría: principales impactos del ”Proyecto Clarity”, Revista Partida Doble nr. 224, 18-27.
Instituto de Cesores Jurados de Espana. (2011). Comentarios normativos sobre las Normas Tecnicas de Auditoria, Revista Auditores nr. 14, 58-65.
Munteanu, V. (2011). “Using the signification threshold and of the audit risk in planning and managing the financial situations”, Financial Audit Magazine, no. 5, 15-22.
Neam?u, H., Roman, A. G., ?urlea, E. (2012). Financial Audit – Assurance missions and side services, Economic Publishing House, Bucharest.
Tabara, N., Briciu, S. (2012). “Actualities and perspectives in accounting and market control”, Tipo Moldova Economic Publishing House, Ia?i.
Toma, M. (2009). Initiation in the financial situations audit of an entity, the third edition revised and enlarged, CECCAR Publishing House, Bucharest.
In-Text Citation: (Pop, 2012)
To Cite this Article: Pop, I. I. (2012). The Professional Reasoning – A Basis for Establishing the Signification Threshold. International Journal of Academic Research in Accounting Finance and Management Sciences, 2(4), 364–377.
Copyright: © 2021 The Author(s)
Published by HRMARS (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode
