The financial audit in the banking institutions

Abstract

In this paper the financial audit and its role in banks will be studied. The audit has undergone a significant evolution due to the complexity of the economic situation, the opening of subsidiaries worldwide, as well as the large size of the companies and the introduction of new technologies. Therefore, the audit is of paramount importance for society in general. However, after the economic and financial public scandals, the audit profession is partly declining. Because of that, the objective of this Bachelor’s Degree thesis is to analyze the evolution of the financial audit and its connection with other relevant concepts. For this, all the concepts related to the audit will be examined, a study of the events that took place in Bankia, CAM and Banco de Valencia and the role played by the audit in them will be analyzed, and, finally, we will discuss why these events took place and which actions can be undertaken.