What is Audit?
Auditing is a highly complex process, and the importance of auditors as a vital link in the financial reporting chain has never been more important nor their role as trusted advisors more valued. The global network of Audit and Enterprise Risk Services professionals at Deloitte member firms provide a range of audit and advisory services to assist clients in achieving their business objectives, managing their risk and improving their business performance—anywhere in the world.
Using our state-of-the-art tools enables Deloitte member firms audit professionals to deliver the assurance service quality and excellence that is implicit in the Deloitte brand and that the financial community and public expect.
Performing a high-quality audit and sustaining the public trust
Within our global network of Deloitte member firms, we have robust audit tools, resources and procedures to provide the means for our professionals to deliver high-quality audit services. In delivering these services we adhere to the highest standards of independence, professional objectivity, and technical excellence.
Our international audit approach is applied consistently around the world, while providing the flexibility to serve the unique circumstances and complexities of our clients. Our audit approach focuses on understanding the clients’ global business and control issues from the inside out. It combines a rigorous risk assessment, diagnostic processes, audit testing procedures as well as a continuous assessment of our clients’ service performance.
The Deloitte approach
Deloitte has developed its own audit approach, based on the International Standards of Auditing (ISA) issued by IFAC. It is the methodology we apply in providing professional services relating to the audit of financial statements, supported by "The DeloitteAudit" (our proprietary audit software tool).
Deloitte’s audit approach, methodology and supporting technologies are benchmarks within our profession. Through a systematic analysis of risks specific to key business processes, we derive an acute focus on areas, transactions and events that are material to the quality and credibility of financial reporting. Central to our approach is the determination of relevant risks through a careful assessment of the client’s industry and the activities that distinguish it.
The complexities of the client's businesses and the challenges posed by today's business and regulatory environment require that professionals with a diverse set of skills and experience be used to perform certain substantive auditing procedures. Technical experts can be integrated into the audit team to support the audit in each of their respective fields of expertise.
Audit requirements in Belgium
The following audit requirements are applicable in Belgium:
- (Audit of) statutory financial statements
- (Audit of) consolidated financial statements
- Role of the auditor towards the works council
- Anti-money laundering obligations
- Independence rules for auditors
- Special missions of the statutory auditor: