Master’s student of the Bank and Finance Academy of the Republic of Uzbekistan 23 25 BHAH group
Sharipov is the son of Islamjon Iskandar
Islamjon62000@gmail.com
ORCID: 0009-0000-0189-6484
Abstract: Auditing in the banking sector is important in ensuring the transparency and reliability of financial statements. At the same time, the risks inherent in auditing banks—due to their complex operations, regulatory requirements, and financial interdependence—present significant challenges for auditors. This article aims to explore ways to improve understanding of audit risk in bank auditing and its impact on overall audit quality. Through an analysis of existing literature and case studies, we identify strategies to reduce audit risk while improving audit quality. Auditing in the banking sector is an important tool in ensuring the transparency, reliability and accuracy of financial statements. This process is closely related to the complex operations of banking systems and strong regulatory requirements. Due to the financial interdependence of banks, this audit process can be more complex and difficult than in other industries. The research of this article is aimed at studying methods of reducing audit risks and improving audit quality in bank auditing. With the help of analysis of existing literature and case studies, we will consider various auditing methods and approaches, as well as reveal the specific features of auditing activities in the banking sector. In particular, we aim to identify innovative methods of reducing audit risk, in particular, strategies for optimizing the audit process through the use of technologies, advanced audit techniques and professional development of auditors. The results of the article are recommended in the form of practical proposals that help to increase the reliability and transparency of financial statements for banks. The study also offers guidance for audit firms to reduce risk, improve auditor effectiveness, and optimize the audit process.
Key words: Auditor risk, bank auditing, audit quality, inherent risk, control risk, detection risk, financial instruments, internal control, audit adjustments, risk management, data analysis, financial transparency, audit technology, regulatory compliance