Mandatory audit in the year criteria for penalties. Mandatory audit - the basis for the audit. Penalty for the absence of an audit report
When is an audit mandatory? In what “other cases” provided for by the Federal Law of December 30, 2008 No. 307-FZ “On Auditing Activity” (hereinafter referred to as Law No. 307-FZ), the company is obliged to conduct an audit?
An exhaustive list of grounds for conducting a mandatory audit of the accounting (financial) statements of companies is given in Article 5 of Law No. 307-FZ.
How to find out if a company is subject to a statutory audit or not? Article 5 of Law No. 307-FZ identifies the following grounds for conducting a statutory audit.
Organizational and legal form of the company
Recall that the Federal Law of December 1, 2014 No. 403-FZ (entered into force on December 2, 2014) expanded the type of organizations in respect of which a mandatory (subparagraph 1 of paragraph 1 of Article 5 of Law No. 307-FZ , clause 5 of article 67.1 of the Civil Code of the Russian Federation).
All JSCs without exception are subject to mandatory audit (regardless of the type - JSC, JSC, PJSC and JSC).
Important!
The current legislation of the Russian Federation provides for a special procedure for conducting a mandatory audit in a joint-stock company, in the authorized capital of which there is a certain share of the state's participation (clause 4 of article 5 of Law No. 307-FZ).
An agreement for conducting a statutory audit of the accounting (financial) statements of an organization in whose authorized (pooled) capital the share of state ownership is at least 25%, as well as for auditing the accounting (financial) statements of a state corporation, a state company, a state unitary enterprise or a municipal unitary enterprise, is concluded based on the results placing an order by holding tenders in the form of an open tender in the manner prescribed by the Federal Law dated 05.04.2013 No. 44-FZ "On the contract system in the field of procurement of goods, works, services to meet state and municipal needs" (hereinafter referred to as the Law No. 44-FZ).
From January 1, 2016, it is planned to carry out procurement planning by companies, including planning the acquisition of audit services. And according to Article 16 of Law No. 44-FZ, the costs of conducting a statutory audit must be included in the procurement plan formed by the company - the organizer of the tender for the period of the budget, i.e. for a period of at least 3 years. An open tender for the selection of an external auditor is held at least once every five years.
Carrying out certain types of activities
Credit, insurance, clearing organizations, mutual insurance companies, organizations that are professional participants in the securities market, funds (NPF (except for state non-budgetary funds), mutual fund, AMF) are subject to mandatory audit.
Compliance with the established indicators of financial and economic activity
with the volume of proceeds from the sale of products (goods, works, services) for the previous reporting year more than 400 million rubles (with the exception of state and local authorities, state and municipal institutions, state unitary enterprises and municipal unitary enterprises, agricultural cooperatives and their unions) or
with the total assets of the balance sheet at the end of the previous reporting year exceeding 60 million rubles.
Let's remind that at present the companies - "simplified" are obliged to maintain and prepare accounting (financial) statements. And if the revenue of the "simplified" exceeds 400 million rubles. or the amount of assets of the balance sheet as of the end of the year exceeds 60 million rubles, then such companies are required to conduct an audit (letter of the Ministry of Finance of the Russian Federation dated January 30, 2013 No. 07-02-05 / 1677).
Carrying out certain actions by companies
Companies are subject to mandatory audit:
whose securities are admitted to organized trading;
representing and (or) publishing consolidated (consolidated) accounting (financial) statements. Exceptions are state and local government bodies, state non-budgetary funds, as well as state and municipal institutions.
Other cases established by federal laws
In a number of cases, the obligation to conduct an audit is enshrined in the provisions of the federal law.
For example, for organizers of gambling, the obligation to conduct an audit is established by clause 12 of article 6 of the Law of December 29, 2006, No. political parties - Federal Law of 11.07.2001, No. 95-FZ "On Political Parties", for the Russian Science Foundation - Federal Law of 02.11.2013, No. 291-FZ "On the Russian Science Foundation and Amendments to Certain Legislative Acts RF ".
The accounting (financial) statements of GUPs and MUPs are subject to mandatory audit in cases determined by the owner of such property. So, in accordance with clause 1 of article 26 of the Federal Law of November 14, 2002, No. 161-FZ "On state and municipal unitary enterprises" (hereinafter referred to as Law No. 161-FZ), accounting (financial) statements of a unitary enterprise in cases where determined by the owner of the property of a unitary enterprise, is subject to a mandatory annual audit by an independent auditor. In this case, the owner of the property of a unitary enterprise in relation to the specified enterprise makes decisions on conducting audits, approves the auditor and determines the amount of payment for his services (subparagraph 16 of paragraph 1 of article 20 of Law No. 161-FZ).
In practice, this means that regardless of the indicators of financial and economic activity (in terms of revenue and the amount of assets), the financial statements of municipal unitary enterprises and state unitary enterprises are subject to mandatory audit in cases determined by the owner of the property.
If companies are subject to a statutory audit, it must be carried out annually (clause 2 of article 5 of Law 307-FZ).
From January 1, 2017, 48 International Standards on Auditing (ISA) are being introduced on the territory of the Russian Federation. They are introduced by two orders of the Ministry of Finance dated 10.24.2016 N 192n and dated 09.11.2016 No. 207n.
According to the new requirements of International Standards, instead of the usual form of the auditor's report on several sheets of standard text, for all new contracts for the statutory audit of an organization, concluded from January 1, 2017, a more information-rich opinion is drawn up in accordance with ISA. The new form of the auditor's report will contain not only an assessment of the company's financial statements, but also draw the attention of users to the most important points in the activities of the audited entity, including what attracted the most attention of the auditor, to what the auditor sees the most significant risks for organizations. For comparison, in the auditor's report issued in accordance with the Federal Auditing Standards, the auditor expresses only his opinion on the reliability of the accounting of the audited entity, while he does not assess the financial statements of the company, does not describe special moments in the activities of the audited entity. All this information is reflected in the auditor's working documents and is not available to a wide range of users. After the introduction of International Standards on Auditing, almost all information obtained by the auditor in the course of the audit should be reflected in the auditor's report.
The new form of the audit report should contain extended information not only for the accounting department, but also for external and internal interested users: shareholders, the board of directors, etc., that is, a wider circle of people who make decisions on the business development strategy.
Thus, from January 1, 2017, the new requirements of the ISA will affect both auditors and audited companies. The amount of data required to analyze the activities of audited organizations is significantly increasing, and the degree of publicity of audit results is also increasing.
THE AUDITOR'S OPINION WILL BECOME MORE INFORMATIVE AND PUBLIC
Recall that from October 1, 2016, legally significant information about the facts of the activities of legal entities, including information about the mandatory audit, is entered into the Unified Federal Register. At the same time, the audit customer is obliged to disclose the circumstances that have a significant impact on the reliability of the statements listed in the auditor's report. Information in the Register must be entered within three working days from the date of occurrence of the relevant fact (paragraph 2, clause 9, article 7.1 of Law No. 129-FZ). If this term is violated, the organization's officials may be brought to administrative responsibility, up to and including disqualification.
CONSEQUENCES FOR BUSINESS
Disclosure of additional data in the auditor's report will allow investors and counterparties of companies to make more balanced business decisions. However, for the audited company, financial risks increase, since an increase in the level of transparency of the company's activities and the reflection in the audit report of all identified business risks will automatically lead to an increase in the cost of bank loans for companies if the auditor expresses concerns about the activities of the audited organization or sees increased financial risks in the audit report. ...
The new rules for disclosing information in the auditor's report under ISA have additional business implications. It is assumed that from 2018 the IFTS will be able to require auditors to disclose audit secrets. Such innovations are set out in the draft Federal Law on Amendments to Articles 82 and 93.1 of Part One of the Tax Code of the Russian Federation. When carrying out tax control, it will be allowed to collect, store, use and disseminate information about the taxpayer received from audit organizations and individual auditors. An official of a tax authority will have the right to demand from auditors the documents received by them during audits and the provision of other audit services that serve as the basis for calculating and paying tax by the organization, if they are not submitted in the prescribed manner by the taxpayer.
Mandatory audit criteria for 2016
A statutory audit of an organization's financial statements is carried out by legal entities that have:
Revenue over 400 million rubles. or the balance sheet assets exceed 60 million rubles. by the end of 2015;
- organizational and legal form of joint stock company,
- the organization (with the exception of the state authority, local self-government body, state non-budgetary fund, as well as state and municipal institutions) submits and (or) publishes summary (consolidated) accounting (financial) statements;
- organizations whose securities are admitted to organized trading, credit and insurance organizations, non-state pension funds.
Mandatory audit of organizations in whose authorized capital the share of state ownership is at least 25 percent, state corporations, state-owned companies, as well as accounting (financial) statements included in the securities prospectus and consolidated financial statements are carried out only by audit organizations. (Part 3 as amended by Federal Law dated 01.12.2014 N 403-FZ).
An agreement for conducting a statutory audit of the accounting (financial) statements of an organization in whose authorized (pooled) capital the share of state ownership is at least 25 percent, as well as for an audit of the accounting (financial) statements of a state corporation, a state company, a state unitary enterprise or a municipal unitary the enterprise is concluded with an audit organization or an individual auditor, determined by holding an open tender at least once every five years in the manner prescribed by the legislation of the Russian Federation on the contract system in the field of procurement, goods, works, services to meet state and municipal needs, while the establishment of a requirement for securing applications for participation in a tender and (or) for securing the execution of a contract is not mandatory. (as amended by Federal Laws of December 28, 2013 N 396-FZ, of December 1, 2014 N 403-FZ)
On a note . In an open tender for the conclusion of a contract for the audit of the accounting (financial) statements of an organization, the volume of proceeds from the sale of products (sale of goods, performance of work, provision of services) of which for the previous reporting year does not exceed 1 billion rubles, the participation of audit organizations that are subjects of small and medium-sized businesses. (Part 5 is introduced by Federal Law dated 01.12.2014 N 403-FZ)
Why it is necessary to conduct a mandatory audit of an enterprise at the end of 2016
The experience of the audit firm "Yurinform-audit" allows us to assert that the organizations that conducted the audit had the opportunity to identify the main mistakes in accounting in a timely manner and correct them in a timely manner. Therefore, statutory audit has its own advantages and undoubted benefits.
Elimination of typical errors.
Timely identification and elimination of inconsistencies in tax and accounting is possible due to a timely independent audit following the results of the reporting financial year. Correction of such errors for the reporting financial year, both in accounting and in tax accounting, will avoid penalties from tax inspectors.
In the course of the audit, the auditors of the company "Yurinform-audit" check not only the correctness of the financial statements, but also the correctness of the formation of tax returns and their reliability based on the results of the reporting year 2016.
The relevance of correct accounting is especially important in view of the strengthening of administrative responsibility for violations in the field of accounting legislation and the submission of inaccurate financial statements. For gross violations in accounting, the fines are increased. The new fines were approved on March 30, 2016. The President signed Federal Law No. 77-FZ on amendments to the Code of Administrative Offenses of the Russian Federation. Penalties for officials are set in the range from 5,000 to 10,000 rubles (it used to be from 2 to 3 thousand rubles). For a repeated violation within a calendar year, the fine will increase and amount to 10,000 to 20,000 rubles or disqualification for a period of one to two years (previously, the penalty for a repeated violation was not provided).
Below are violations that are classified as gross:
- understatement of the amounts of accrued taxes and fees by at least 10% due to distortion of accounting data;
- distortion of any indicator of the accounting (financial) statements, expressed in monetary terms, by at least 10%;
- registration of a non-existent fact of economic life, an imaginary, feigned accounting object in the accounting registers;
- maintaining accounting accounts outside the applicable accounting registers;
- preparation of accounting (financial) statements not based on data from accounting registers;
- the economic entity does not have primary accounting documents and (or) accounting registers and (or) accounting (financial) statements and (or) an auditor's report on accounting (financial) statements during the established storage periods for such documents.
The limitation period for bringing to responsibility for violation of accounting legislation is established by Article 4.5 of the Administrative Code and is limited to two years from the date of the offense (previously this period was 3 months).
Penalty for the lack of an audit report.
If the organization, for some reason, did not conduct a statutory audit, it will not be punished for this, the current legislation does not provide for liability for failure to conduct a statutory audit, but administrative liability is established for the absence (failure to submit, non-publication) of the auditor's report.
In particular, the lack of an audit report on the accounting (financial) statements of the Joint Stock Company entails the imposition of an administrative fine on officials in the amount of five thousand to ten thousand rubles in accordance with Part 1 of Art. 15.11 of the RF Code of Administrative Offenses.
Failure to submit or untimely submission to state statistics bodies of annual accounting (financial) statements, which should include an auditor's report, will result in an administrative fine under Art. 19.7 of the Administrative Code of the Russian Federation in the amount of three hundred to five hundred rubles for officials and from three thousand to five thousand rubles for legal entities.
Non-publication by the joint-stock company on the Internet page of the auditor's report within the prescribed period, in accordance with Part 2 of Art. 15.19 of the Administrative Code of the Russian Federation, may entail the imposition of an administrative fine on officials in the amount of thirty to fifty thousand rubles or disqualification for a period of one to two years; for legal entities - from seven hundred thousand to one million rubles.
What are the statutory audit criteria? In what “other cases” provided for by the Federal Law of December 30, 2008 No. 307-FZ “On Auditing Activity” (hereinafter referred to as Law No. 307-FZ), the company is obliged to conduct an audit?
An exhaustive list of grounds for conducting a mandatory audit of the accounting (financial) statements of companies is given in Article 5 of Law No. 307-FZ.
How to find out if a company is subject to a statutory audit or not? Article 5 of Law No. 307-FZ identifies the following grounds for conducting a statutory audit.
Organizational and legal form of the company
Recall that the Federal Law of December 1, 2014 No. 403-FZ (entered into force on December 2, 2014) expanded the type of organizations in respect of which a mandatory audit was established (subparagraph 1 of paragraph 1 of Article 5 of Law No. 307 -FZ, clause 5 of article 67.1 of the Civil Code of the Russian Federation).
All JSCs without exception are subject to mandatory audit (regardless of the type - JSC, JSC, PJSC and JSC).
The current legislation of the Russian Federation provides for a special procedure for conducting a mandatory audit in a joint-stock company, in the authorized capital of which there is a certain share of the state's participation (clause 4 of article 5 of Law No. 307-FZ).
An agreement for conducting a statutory audit of the accounting (financial) statements of an organization in whose authorized (pooled) capital the share of state ownership is at least 25%, as well as for auditing the accounting (financial) statements of a state corporation, a state company, a state unitary enterprise or a municipal unitary enterprise, is concluded based on the results placing an order by holding tenders in the form of an open tender in the manner prescribed by the Federal Law dated 05.04.2013 No. 44-FZ "On the contract system in the field of procurement of goods, works, services to meet state and municipal needs" (hereinafter referred to as the Law No. 44-FZ).
From January 1, 2016, it is planned to carry out procurement planning by companies, including planning the acquisition of audit services. And according to Article 16 of Law No. 44-FZ, the costs of conducting a statutory audit must be included in the procurement plan formed by the company - the organizer of the tender for the period of the budget, i.e. for a period of at least 3 years. An open tender for the selection of an external auditor is held at least once every five years.
Carrying out certain types of activities
Credit, insurance, clearing organizations, mutual insurance companies, organizations that are professional participants in the securities market, funds (NPF (except for state non-budgetary funds), mutual fund, AMF) are subject to mandatory audit.
Compliance with the established indicators of financial and economic activity
Conditions of statutory audit:
- with the volume of proceeds from the sale of products (goods, works, services) for the previous reporting year more than 400 million rubles (with the exception of state and local authorities, state and municipal institutions, state unitary enterprises and municipal unitary enterprises, agricultural cooperatives and their unions) or
- with the total assets of the balance sheet at the end of the previous reporting year exceeding 60 million rubles.
Let's remind that at present the companies - "simplified" are obliged to keep accounting records and prepare accounting (financial) statements. And if the volume of the "simplified" revenue exceeds 400 million rubles. or the amount of balance sheet assets as of the end of the year exceeds 60 million rubles, then such companies are required to conduct an audit (letter of the Ministry of Finance of the Russian Federation dated January 30, 2013 No. 07-02-05 / 1677).
Carrying out certain actions by companies
Companies are subject to mandatory audit:
- whose securities are admitted to organized trading;
- representing and (or) publishing consolidated (consolidated) accounting (financial) statements. Exceptions are state and local government bodies, state non-budgetary funds, as well as state and municipal institutions.
Other cases established by federal laws
In a number of cases, the obligation to conduct an audit is enshrined in the provisions of the federal law.For example, for organizers of gambling, the obligation to conduct an audit is established by clause 12 of article 6 of the Law of December 29, 2006, No. political parties - Federal Law of 11.07.2001, No. 95-FZ "On Political Parties", for the Russian Science Foundation - Federal Law of 02.11.2013, No. 291-FZ "On the Russian Science Foundation and Amendments to Certain Legislative Acts RF ".
The accounting (financial) statements of GUPs and MUPs are subject to mandatory audit in cases determined by the owner of such property. So, in accordance with clause 1 of article 26 of the Federal Law of November 14, 2002, No. 161-FZ "On state and municipal unitary enterprises" (hereinafter referred to as Law No. 161-FZ), accounting (financial) statements of a unitary enterprise in cases where determined by the owner of the property of a unitary enterprise, is subject to a mandatory annual independent auditor. In this case, the owner of the property of a unitary enterprise in relation to the specified enterprise makes decisions on conducting audits, approves the auditor and determines the amount of payment for his services (subparagraph 16 of paragraph 1 of article 20 of Law No. 161-FZ).
In practice, this means that regardless of the indicators of financial and economic activity (in terms of revenue and the amount of assets), the financial statements of municipal unitary enterprises and state unitary enterprises are subject to mandatory audit in cases determined by the owner of the property.
If companies are subject to a statutory audit, it must be carried out annually (clause 2 of article 5 of Law 307-FZ).
The obligatory audit is carried out by the enterprise every year. The auditors are licensed independent audit firms. The result of the check is the verifier's conclusion about the correctness of the reflection of the facts of economic and financial activities. Not all companies are required to undergo a statutory audit. So, annually the following should be checked:
- joint stock companies;
- credit institutions;
- insurance firms;
- investment funds;
- companies whose securities are traded on the stock exchange and others.
Other enterprises must also undergo mandatory checks if their activities exceed the established financial indicators. Statutory audit criteria in 2018:
- proceeds over 400 million rubles, excluding VAT;
- the company's assets at the end of the year exceed 60 million rubles.
The criteria that oblige the company to carry out an audit are established by clause 1 of Art. 5 of Law No. 307-FZ. If, as a result of the company's activities, at least one of these requirements is met, it must conduct an audit. The information is taken for the previous year, i.e. if, after the end of the year, the activity of the enterprise met one of the requirements, the next year it needs to undergo a mandatory audit.
As you can see, there are no special requirements governing the statutory audit for an LLC. If the assets or revenues of the company exceed the established norms, the LLC must be audited annually. The obligation of an annual audit for an LLC may be established by the charter or by a decision of the company's participants. But in fact, and in another case, we are already talking about a proactive audit.
There are also requirements for how the audit should be conducted. The audit must meet the following criteria:
- Verification is carried out on all activities of the organization. All assets, liabilities, inventories of the company are evaluated. Accounting and tax reporting are analyzed. The verification of the reliability of settlements with founders, regulatory authorities, budget funds is carried out.
- The conclusion of the testing company must be specific. At the end of the audit, the auditor must make a clear verdict whether reliable or not information is presented in the financial statements.
- The audit is conducted in compliance with all standards. Previously, the audit rules were governed by Russian law. However, since 2017, everything has changed and the activities of audit firms must already meet international standards.
Our lawyers know The answer to your question
or by phone:
An audit is a very time-consuming process, therefore, a detailed plan is drawn up immediately before the audit. At the beginning, information about the enterprise where it will take place is studied. Based on this information, strategy and tactics are determined, an audit program is developed, a schedule and plan are drawn up. Everything is agreed with the client.
Then the check itself is carried out. All financial, accounting and statutory documents are studied. The data obtained is analyzed, and an assessment is made for their compliance with Russian legislation. The identified shortcomings are recorded, the auditor proposes measures to eliminate them.
The final conclusions are presented to the founders of the organization in the form of an audit report. There are two types of conclusions: an unconditionally positive, such a decision is made if no violations were found during the inspection, and a modified one. The latter, in turn, is divided into three subtypes:
- positively with reservations;
- negative;
- refusal to express an opinion, issued in case of incomplete submission of documents for verification.
Basically, in practice, positive opinions or opinions with a reservation are issued. The other two options account for less than 1% of the conclusions.
After receiving the document, the company must submit it to Rosstat. The opinion is submitted along with the annual balance sheet and other statements. This must be done within 10 days from the date of its submission to the legal entity, but before the end of the year following the reporting year.
The transition to international requirements has made adjustments to the audit procedure. First of all, this affected the statement of the auditor's opinion based on the results of the audit. The form of the conclusion has changed, now it has become more informative. In addition to assessing the financial performance of the company, it includes an analysis of the main points that interested the auditor and a listing of possible risks for future activities.
Since 2018, the audit secret has actually been abolished... Now the Federal Tax Service can obtain any documents on the audit carried out from the audit company. Moreover, according to the new amendments, the tax authorities are allowed to disclose the information received.
The check was not carried out, what will be
Ignoring the legislation entails the imposition of penalties. Both the organization itself and its head can be fined. Supervisors can issue both fines.
In the case of a statutory audit, a violation is:
- Failure to submit information to statistics authorities. It is not necessary to submit an opinion to the tax office. The fine for the manager will be from 300 to 500 rubles. The company will pay 3,000 - 5,000 rubles;
- Absence or untimely entry of information into the state register on the activities of organizations. The enterprise may be subject to sanctions in the amount of 5,000 to 50,000 rubles;
- Violation of the terms of storage of audit results. An on-site tax audit can request audit documents for the past 5 years. This is the period established for the storage of audit reports by law. If there are no documents, the organization will be fined 5,000 - 10,000 rubles.
All LLCs subject to legal requirements must undergo mandatory checks, otherwise you will have to pay heavy fines. It is also important to keep track of the deadlines for the submission of audit reports to the statistics authorities, their violation will also entail the imposition of penalties.