Particularities of Profit and Loss Account Audit and the Production Process in Constructions

Marian Grigore ()
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Marian Grigore: The Bucharest University of Economic Studies Faculty of Accounting and Management Information Systems

Ovidius University Annals, Economic Sciences Series, 2016, vol. XVI, issue 1, 527-531

Abstract: The activity during the process of building is strongly influenced by the particular elements that support it, by the direct and indirect building costs. A well-controlled activity from the view point of execution, building site organisation, as well as ensuring the specialised human resource may lead to reaching the objectives set: finalising the building with minimum costs and a high level of the income statement. The financial audit of the profit and loss account is subsequent and implies a scheduled verification after the end of the financial year and submission of yearly statements to financial administration, as a confirmation that this activity was efficient, did not result in frauds. It thus follows that there is a direct relationship between the initial control proposed at the beginning of the building project and the final verification materialised through the annual financial audit.

Keywords: assets; risk; control; objectives; fraud (search for similar items in EconPapers)
JEL-codes: M40 M41 M42 (search for similar items in EconPapers)
Date: 2016
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