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The Comptroller General of the Republic by constitutional mandate is in charge of ensuring the proper use of public assets and funds, through the application of Prior Control and Subsequent Control, the latter being the one carried out by the Institution's auditors. The Government Auditing Standards for the Republic of Panama establish that the audits carried out by the Comptroller General are financial audits, performance audits and compliance audits. However, these standards do not indicate the audits that are carried out in case of economic damage, so that responsibility falls on forensic auditing, since with the other types of auditing, their reports seek to present an opinion or conclusion regarding the matter audited, with the objective of presenting the financial reality of the institutions or the processes to achieve added value, while forensic auditing seek through their investigation to determine those related for mismanagement of public funds. With this essay, it is proposed to explain the incidence of forensic auditing reports and how they serve as a tool for both the Public Prosecutor's Office and the Court of Accounts, for the recovery or repairs of State funds, also including the legal implications you may face auditors for not properly drafting your forensic auditing report.
