The article gives a detailed description of the economic concepts (categories) „audit”, „audit activities” and „auditing services”, given their governing laws and regulations. Formulated and disclosed the basic principles of the audit, the classification of its species, much attention is paid to the auditing standards and their role in improving the quality and efficiency of financial and economic control. At the same time these issues are discussed in close connection with the recently enacted new national accounting standards and International Financial Reporting Standards, as well as in the context of the requirements of the current stage of development of the market economy of the Republic of Moldova and its European integration.