Abstract:

The last decades have brought a growing concern for the phenomenon of globalization both in the public and private sectors. It reflects both its enlargement and the changeover and the expansion or outsourcing work to firms in other countries or through labour migration. Accounting and auditing could not remain impassive in the process of globalization in their role as important components of economic life. In this context, to support economic development and expansion of the globalization process, specialized international organizations have developed, published and promoted the International Financial Reporting Standards and, respectively, International Standards on Auditing. This paper aims to capture the main influences of globalization on the accounting and auditing, but also the benefits of applying the same rules, methods and regulations in these fields.