In the contemporary global landscape, the debate on corporate governance has been progressively gaining relevance, engaging companies, governments, regulatory bodies, entities, and public opinion around the world. In this context, the work of independent audits remains vital to ensure the credibility of corporate information and strengthen trust in the market.
However, the function and limits of these professionals' performance still seem to be poorly understood, leading to a gap in expectations between what the auditor does—according to legal and regulatory obligations—and what society expects from their work.
It is in this context that the Ibracon—the Institute of Independent Auditors of Brazil—published the book Independent Audit: Mission and Responsibilities – Studies and Opinions, available free of charge on the Ibracon website, www.Ibracon.com.br/ebooks, in three languages.
The publication brings together studies and opinions from some of the most renowned specialists in Brazil in accounting, law, and economics with the aim of exploring in depth the latest discussions regarding the role of independent auditors as part of the corporate governance structure of companies, as well as studying the new challenges in a constantly evolving market.
In addition to the functions and responsibilities of auditors, the book address topics such as the origins of the profession, capital market rules, and the dynamics of interaction between the agents involved in the process of preparation, and assurance of financial statements. Also analyzed are issues related to the codes and fundamental principles of independent audit, the Brazilian and international standards that govern the profession, among other relevant topics for the daily practice of professionals in the field.
The importance of the debates raised by the book cannot be underestimated. Independent audits ensure that the companies' financial information has been prepared in accordance with relevant standards, which is vital for preserving market credibility and the trust that investors, regulators, and the general public place in corporate reports. However, the work of auditors is often misunderstood, resulting in frequently unrealistic expectations from various audiences—including relevant authorities. This lack of understanding can even bring regulatory risks, potentially negative for the market as a whole, by generating policies and standards misaligned with the practical reality of audit.
Clearly defining and delimiting the functions of auditors and other structures within companies is, therefore, essential for each party to fulfill their role in the best possible way, thus ensuring the best governance practices. To this end, the first step is to raise society's awareness of the importance of the profession. By better understanding the responsibilities and limitations of auditors, authorities and other stakeholders can collaborate more effectively to formulate policies and regulations that benefit the market in general.
Considering the global nature of this challenge, Independent Audit: Mission and Responsibilities – Studies and Opinions is available in Portuguese, English and Spanish. This initiative reflects Ibracon's commitment to strengthening the independent audit profession on an international scale. Thus, we seek to contribute to the global dialogue on corporate governance and audit, reaffirming the importance of a deep and shared understanding of the role of independent auditors to build a more transparent and reliable market.
