The external audit process for the fixed assets cycle

Abstract

External audit is an independent process aimed at assessing the reliability of a company’s financial statements. The fixed assets cycle is a key area, given the significant role of tangible and intangible assets in the financial structure of an entity. This work focuses on an external audit mission related to fixed assets, combining a theoretical foundation with a practical case study. The analysis involved understanding the company’s environment, testing asset-related accounts, and verifying compliance with accounting standards. The results revealed certain discrepancies and led to recommendations to improve internal procedures. This mission provided a deeper understanding of the challenges involved in auditing the fixed assets cycle