Minimum procedures for verification of the cost of a professional soccer team

Abstract

Introduction. The importance of transparent financial information and especially the verification of the agreed commitments in the amounts of contracts that are part of the costs of the sports teams of clubs that make up the Ecuadorian professional soccer championship of the first category Serie "A" and Series "B" which are subject to the norms and principles of the laws of the Republic, with its own statute and regulations, in addition to resolutions of international organizations that regulate this sporting activity at an international level (FIFA and CONMEBOL). Objective. The purpose of the investigation is to determine the minimum requirements that external auditors must consider in the audit process of the clubs that are part of the Professional Soccer League of Ecuador (LPFE or LigaPro). These minimum requirements will be related to "Reports on audited agreed procedures for the cost of Sports Squad and Indebtedness", as a starting point it is necessary to know the conceptual bases and phases of the financial audit, under the methodology applied for this purpose, it will also be described the minimum requirements in the field of financial auditing, as well as the structure of the working papers that the external auditor will apply for execution. Methodology. With the application of the descriptive investigation, the records will be analyzed, the composition of the administrative and accounting processes of an entity to be audited, and with the use of instruments in distinct phases of the financial audit, the auditor's opinion will be based in accordance with the international auditing and assurance standards. Results. It is essential to make the information of professional soccer clubs in Ecuador transparent, since in some cases it is observed that the management of the clubs by the administrators lacks organization and administrative and financial control, for which the level of control of the cost of its sports staff, which demonstrates the relevance of this proposal of minimum requirements that auditors must apply in the financial audit process. Conclusion. The minimum requirements to be evaluated by the external auditors efficiently help to obtain specific documentary evidence within the audit process of the financial statements, so that it contributes to the auditor's opinion.