Quality control practices and problems in small and medium-sized audit firms

Abstract

The article discusses the problems related to quality control practices in small and medium-sized auditing companies, their genesis and preventive capabilities.

In the paper, the doctoral student develops the idea that customer confidence can be ensured only if the transaction team conducts qualified audit services and there is an audit quality control system in line with international standards in this process. Quality control system includes external monitoring carried out by the supervisory body and quality management at the firm level - within the auditing company. They are interdependent parts of a unified system. However, the organizational-methodological practice of external monitoring already exists and is being implemented, and quality management in small and medium-sized audit companies of Georgia, as the main prerequisite for meeting the needs of audit service users, is still in its infancy. That is why the results are lower than desired. The length of the quality management process in the company is due to the lack of organizational and experienced resources.

The author addresses the circumstances that hinder the organization of quality control within the company and expresses views aimed at solving the problem.