Audit Flowcharts

"Credit (from Latin credo translation. "I believe" ) is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower." [Credit (finance). Wikipedia]
The cross-functional (deployment) flowchart example "Credit approval process" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Cross-Functional Flowcharts solution from the Business Processes area of ConceptDraw Solution Park.

The vector stencils library "Audit flowcharts" contains 31 symbols of audit flow chart diagrams for accounting, financial management, fiscal information tracking, money management, decision flowcharts, and financial inventories.
"A financial audit, or more accurately, an audit of financial statements, is the verification of the financial statements of a legal entity, with a view to express an audit opinion. The audit opinion is intended to provide reasonable assurance, but not absolute assurance, that the financial statements are presented fairly, in all material respects, and/ or give a true and fair view in accordance with the financial reporting framework. The purpose of an audit is to provide an objective independent examination of the financial statements, which increases the value and credibility of the financial statements produced by management, thus increase user confidence in the financial statement, reduce investor risk and consequently reduce the cost of capital of the preparer of the financial statements. ...
Financial audits are typically performed by firms of practicing accountants who are experts in financial reporting. The financial audit is one of many assurance functions provided by accounting firms. Many organizations separately employ or hire internal auditors, who do not attest to financial reports but focus mainly on the internal controls of the organization. External auditors may choose to place limited reliance on the work of internal auditors. Auditing promotes transparency and accuracy in the financial disclosures made by an organization, therefore would likely to reduce of such corporations to conceal unscrupulous dealings.
Internationally, the International Standards on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB) is considered as the benchmark for audit process. Almost all jurisdictions require auditors to follow the ISA or a local variation of the ISA." [Financial audit. Wikipedia]
The example "Design elements - Audit flowchart" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Audit Flowcharts solution from the Finance and Accounting area of ConceptDraw Solution Park.