External economic and financial control - Comparative constitutional perspective

Gera Anton

European Journal of Economics, Law and Social Sciences, 2025, vol. 9, issue 1, 62-69

Abstract: There can be no talk of external economic and financial control in a dictatorial state. Consequently, external control is a significant component of democratic states. As for the definition of external audit, it consists of an assessment carried out by an independent and competent entity. This assessment allows the compilation of an opinion in relation to national or international standards on the financial status, internal control of the institution, procedures and any activity of a given institution. Audit is an independent assessment that aims to obtain evidence in relation to a specific object and its objective assessment to determine to what extent predetermined criteria have been met or not. The concept of audit can be applied both in the public and private sectors, where it was invented. Regarding auditing in the public sector, there should be a distinction between internal and external audit. Internal Audit is an independent activity that provides objective assurance and advice to management designed to add value and improve the operations of a public entity. As for the origins of auditing in general through the use of inventory, it is found in Domesday, created by William I of England. In the late Middle Ages, there are references to auditors and auditing in Italy, France and England as an activity and as a formalization of the institution of control. In this sense main objective of this manuscript is a comparative constitutional perspective of the economic and financial control.

Keywords: Economic; financial control; Comparative constitutional perspective (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ejelss:v:9:y:2025:i:1:p:62-69:n:1005

DOI: 10.2478/ejels-2025-0005

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