Resembling the Hungarian audit particularities to the International and Hungarian National Audit Standards

Abstract

As a consequence of the particular development of our country, the proportion of the small enterprises shows an increasing tendency. This layer means the business for most Hungarian auditors, therefore we pay stressed attention to the special features of auditing of small enterprises. These features are not reflected overall by the National Auditing Standards. The size differences of the enterprises affect the auditing work and influence the risk of it as well. The present Hungarian economic conditions make it necessary to attune the auditing work to the size of the enterprises. Regarding the small enterprises the auditor also examines the reliability and the authenticity of the accounting report, but there is no need of the application of some complicated and time-consuming procedures that are essential in the case of large undertakings. It is every auditor´s own responsibility and own interest to adapt this system to his/her everyday auditing practice. Thus the question emerges that how this apparent contradiction can be resolved knowing the International and the Hungarian National Audit Standards. Taking into account that these two standards are close to each other in content, in the following they will be handled as one and will be referred to as the National Audit Standard.