The financial statements of the company are of key importance, since financial statements are used to create business decisions that can have long-term consequences for the company's operations. At the same time, business decisions can be very different depending on which group of stakeholders it is. The management of the company has long recognized the necessity of adjusting the data presented in the financial statements with the aim of creating an influence on the decisions of the stakeholders, which can ultimately have an extremely negative impact on the company's stakeholder. With the aim of creating a greater degree of trust in the presented financial statements of the company, an audit of the presented financial statements of the company is carried out, which should guarantee that the data presented in them are fair and true. The audit of financial statements of companies, especially when it comes to large companies and companies that are considered to be of public interest, is of key importance since they guarantee the company's stakeholders, with an emphasis on shareholders, that the data presented in the financial statements represent the actual state of the company's operations. That is, it is possible to point out that the audit guarantees the quality of the presented financial statements to the stakeholders of the company. On the other hand, throughout history, it is possible to point out examples of major audit scandals, which point to deficiencies in the regulation of auditing as a profession, which is why it is necessary to further develop and regulate auditing in the future.