Benchmarks as Regards the Financial Auditor’s Role in the Current Economic Context

Abstract

From the moment of the first financial audit practices, initiated in Antiquity, and so far, the financial auditor’s role has become ever more nuanced and has acquired new valences throughout the evolution of society. Society’s current challenges, in the “era of the global village”, require the extension of the financial auditor’s role and responsibility, from the increased credibility of the financial information to its direct involvement in the process of preventing and combating money laundering and terrorist financing. The latest legislative modifications, adopted in 2018, increase the financial auditors’ professional obligations, especially in the area of the detailed knowledge of audit clients, by means of the risk analysis of the clientele.