Reliable accounting information

Abstract

This article parts from the base that information is a necessity of a social nature, within which an important part relates to economic and accounting data. The paper considers that this information is useless and misleading when it lacks reliability given that the decisions taken from it would be erroneous. Auditing is the instrument designed to give credibility to accounting information; however the auditing profession has not gone unscarred during the management of this economic recession in which we are immersed. After reviewing some of the most recent financial scandals that are on everyone's mind, the author proposes starting a serious period of deep reflection, after which certain attitudes and skills should change by all concerned sectors of society. The result of which should be actions giving rise to the auditing profession regaining its previous prestige as the undisputed body guaranteeing the «true image» of accounts subject to its professional verification.