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January 31, 2017

BASTONÁRIO PUTS AUDITORS IN THE CENTER OF CONFIDENCE

At the ceremony in which he took office as President of OROC, José Azevedo Rodrigues stressed the need to ensure the growing relevance of the professional practice of statutory auditors in favor of a culture of rigor and trust and the defense of the public interest, in a context that it sets up a risky environment dictated by the effects of the crisis and the challenge of attracting talent to the profession.

Lisbon, January 16, 2015 - The exercise of auditing as a basis for building trust was central to the message of José Azevedo Rodrigues, who today took office as President of the Order of Statutory Auditors (OROC) for his second term in office. The public ceremony was attended by Maria Luís Albuquerque, Minister of State and Finance.

José Azevedo RodriguesAccording to José Azevedo Rodrigues, President of the Order of Statutory Auditors for the next three years, “Notwithstanding the difficult circumstances and conditions in which statutory auditors exercise their function, OROC persists in the fundamental aim of guaranteeing the level of demand in the practices and attitudes of professionals in the sector, in order to ensure confidence in the performance of the your functions. "

An idea repeated by Maria Luís Albuquerque, when stating that without the correct application of the rules there is no confidence in the markets, with the role of auditors being essential in an economy that wants to be competitive. Recognizing the difficult context in which the current President's mandate begins, Maria Luís Albuquerque also guaranteed to know that the statutory auditors will be up to the challenges.

The conditions currently experienced present obstacles to the profession directly related to the impact of the crisis on the real economy, affecting the level of business activity and leading to competition based on prices in the audit market.

An issue to which are added public procurement procedures based exclusively on the criterion of choosing the “lowest price” and the setting of administrative prices without meeting the level of resource requirements necessary for the execution of a quality audit service.

In addition to this reality, issues related to the legislation surrounding the activity are added, pending the approval and publication of new Statutes that will constitute a fundamental tool to address issues such as increasing international cooperation or opening up access for young graduates, regardless basic university education.

The European Audit Regulation and the Audit Directive, approved by the European Parliament in May 2014 and with the first to be adopted and the second transposed into the national legal system by June 2016, are another of the challenges to which the profession is called. The transposition should serve as a motto to improve the consistency between the various regulatory instruments for the intervention of the reviewers, clarifying their mission, areas of action and responsibilities.

This idea of ​​improving the organization of auditors and auditing societies and their professional practices was echoed in the quality control system established by OROC, an essential tool for improving the profession. The President expresses his conviction that, in addition to the requirements that are imposed on the members of the Order, independence, competence and knowledge will be the pillars of the future performance of the supervision of the audit in Portugal. An action that, thus, will contribute positively to the cultural and behavioral renewal underlying the current global changing environment, valuing the role of auditing as a function of public interest.

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