1

1Tarea 2 – Componente práctico

Estudiante:

Grupo: 106033_6

Tutor:
Flor Manuela Ariza Molina

Universidad Nacional Abierta y a Distancia - UNAD

Escuela de Ciencias Administrativas, Contables, Económicas y de Negocios - ECACEN
Programa de Contaduría Pública
CEAD Santa Marta
2023
 2

Tabla de Contenidos

página

1. Importance of the legal framework of Integral Auditing.................................3

 3

1. Importance of the legal framework of Integral Auditing

The comprehensive audit plays an essential role in the evaluation, control and
improvement of the financial management of an organization, since it establishes whether
the financial statements of the organizations comply with the generally accepted
accounting principles, with their regulations and statutes, thus becoming, It is an essential
tool to maintain financial integrity, protect the interests of the parties involved and
promote confidence in the functioning of organizations and financial markets.

The legal framework for comprehensive auditing is made up of the International

Standards on Auditing (ISA), which are constantly changing and guide the auditing
process around the world. Its implementation helps to improve the quality of reports and
make them comparable between different jurisdictions, which is especially important in a
globalized environment, where companies operate in multiple countries and investors
need consistent and reliable information.

It should be noted that the legal framework of the comprehensive audit also
establishes an ethical and professional framework for auditors that reinforces ethical
conduct and integrity in the profession when carrying out this type of procedures within
organizations.

It is important to mention that the legal framework of the comprehensive audit

plays a fundamental role in the proper functioning and effective management of an
organization. This tool establishes the legal and regulatory bases that govern all audit
areas within a company, and its importance is undeniable for several key reasons:

First, regulatory compliance is a central pillar, as each company is subject to a set

of laws and regulations that govern its financial, operational, compliance and
management operations. The legal framework of the comprehensive audit ensures that all
 4

these areas are evaluated and reviewed in accordance with applicable laws and
regulations. This not only avoids potential legal sanctions and fines, but also preserves
the company's reputation and the trust of stakeholders.

Another critical aspect is risk management, since the legal framework of the
comprehensive audit provides a structure to identify and mitigate legal and regulatory
risks in all facets of the organization. By doing so, you help protect the company from
potential costly litigation and take proactive steps to avoid potential legal problems.

The transparency and accountability are core values supported by this framework,
as it establishes clear guidelines for accurate and transparent reporting in all audited
areas, ensuring that senior management and stakeholders are properly informed, thereby
fostering accountability and evidence-based decision making.

In addition, the legal framework of the comprehensive audit contributes to

operational efficiency. By evaluating all areas of the organization from a legal and
regulatory perspective, inefficiencies, and areas for improvement can be identified. This
can lead to process optimization, cost savings and increased competitiveness in the
marketplace.

Finally, it is important to mention that respect for and compliance with laws and
regulations in all operations are essential to a company's reputation and public trust.
Investors, customers and other stakeholders trust that the organization operates in an
ethical and legal manner. A solid legal framework in comprehensive auditing is a
guarantee that the company is committed to these principles, which contributes to
maintaining and strengthening business relationships and market position.