Независим финансов одит на финансовите отчети на застрахователите в условия на дигитализация
Independent Financial Audit of Insurers’ Financial Statements under the Conditions of Digitalization

Author(s): Maia Natchkova
Subject(s): Economy, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: digitalization; insurers; independent financial audits; financial statements
Summary/Abstract: Under the conditions of global health crisis due to the announced pandemic of COVID-19, the economic relations under the conditions of digitalization have developed rapidly at global level. Certified public accountants – registered auditors have to answer an important question, which has become their key objective, and namely: ‘How should they perform the independent financial audit of insurers’ financial statements under the conditions of digitalization, in order to keep the main objective and task of the audit, how to justify their audit opinion and how to prevent the appearance of individual errors, misstatements and bad audit practices?’ In order to achieve this objective under the conditions of digitalization of the independent financial audit, registered auditors need to use specific approaches, procedures, methods, rules and audit standards, other than those they already know and apply, which however should not be in violation of the established quality standards developed on the basis of the International Accounting Standards (IAS) and the International Code of Ethics for Professional Accountants. Due to the development of globalization and the merger of insurance markets as a result of the new international regulation regimen of the insurance business and the changed national requirements of the state insurance supervision under the conditions of global health crisis, the registered auditors face the need to design new, digitalized methods and methodology for performance of independent financial audit of insurers’ financial statements.

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