Audit Evidence and Documentation

The collection of audit evidence is a responsible task which underpins the value of the audit at hand. The audit is as good as the quality of the audit evidence which the auditor collected during the course of the engagement. The primary aim of auditing standards and of any audit is the relevance, sufficiency and appropriateness of the audit evidence. The freshness of audit evidence is also of utmost importance because an audit is a fresh exercise every year and not a reproduction of the past audits. The latter will be a disservice to the client, the stakeholders and to the profession itself. However much of the above qualities are available all of this is lost if auditors fail to adequately document the evidence.

The Speaker

Mario P Galea is a certified public accountant holding a warrant to practice both as an accountant and as an auditor. Currently practising as a business advisor providing governance oversight and advisory services to businesses and corporations. Serves as an independent non-executive director on the boards and audit committees of various listed companies in the financial and commercial sectors. Mentor and advisor to family businesses. Founder, managing partner and chairman of accountancy and audit firm EY in Malta until retirement in 2012. Specialised in auditing and assurance which he has practiced for 35 years in Malta and abroad. Lectured in auditing, assurance and professional and business ethics and led several training courses. Speaker at various business and professional conferences in Malta and abroad. Assisted businesses in several areas particularly relating to governance, accounting and systems of control. Served as President of the Malta Institute of Accountants and for many years formed part of the Accountancy Board which is the accountancy profession regulator in Malta. Served on various professional committees in Malta and abroad such as the council of the Federation des Experts Comptables (FEE) in Brussels (now Accountancy Europe). Member of the Ethics and Regulatory committees of the Malta Institute of Accountants in Malta.