Audit and External Informational System

The article describes in a real and elaborate manner the aspects concerning the correlation between statutory audit and the financial communication provided by the entity, by means of financial statements. In order to avail of a complex image of this issue, we have begun by stating clearly the importance confered on the financial communication supplied by the entity, particulalrly, when dealing with companies quoted on Stock Exchange,which enables us to observe the reason why certain objectives concerning the external communication should be covered by IFRS together with accounting standards.Simultaneously, the audit standard, as part of operational mechanisms necessary for the economy and the success of capital markets, has been reconsidered to improve the financial communication of the entity with the environment in which it operates. Therefore, we may consider the audit as a means of developing a high-achieving communication, concerned with the users outside the entity and required for the management performance.