This paper refers to the audit process as to a very complex activity. There have been significant changes as the time passed by, changes that were necessary in order to keep up with the client’s demands and the dynamic business environment. Despite the fact that there are certain stages to be followed while auditing, despite the standardized audit procedures, there however, remains the one element that adds value to the marketplace, and that is the auditor, as a human being. He bears the responsibility for the completeness, validity and accuracy of the financial statements. Therefore, he must be that skillful employee, who knows very well the procedures, puts them effectively into practice and yet has time to specialize and keep in touch with the latter methodologies developed by audit scholars. He is the key element, the relationship manager. And the audit process depends on many variables, but above all, stands the auditor.

auditing risks