Mandatory audit of joint stock companies per year. Statutory audit: criteria for conducting. Which enterprises are subject to mandatory audit
In 2019, many companies must conduct a mandatory audit of their financial statements. Read who exactly is subject to mandatory audit, what is the responsibility for failure to conduct it and how to choose the right auditor.
For whom is audit mandatory?
An audit is an event that allows a company to assess how correctly its financial statements are prepared, taxes are calculated, etc. In addition, it allows management to evaluate financial position affairs of his company. In some cases, managers themselves appoint internal or external reviews. For example, before restructuring, selling, merging a company, sometimes this may be a requirement credit organization). Foreign companies often require audits of their Russian divisions. But there are also organizations that fall under mandatory audit according to the law.
Criteria mandatory audit in 2019
What companies do not have the right to evade the eye of auditors? According to Federal Law No. 307 of December 30, 2008, audit is mandatory for:
- Joint stock companies.
- Firms whose securities are participating in trading.
- Credit, insurance organizations and investment funds (including pension funds) and their management companies.
- Large companies (except government agencies, etc.). These are companies whose revenue in the year before the reporting year exceeded 400 million rubles or whose assets at the end of the same period were more than 60 million rubles.
- Organizations (except government or municipal authorities and other government agencies) presenting (disclosing) annual consolidated accounting or financial statements.
- Certain other organizations (subject to other applicable laws).
Verification stage. cases of conducting a mandatory audit of accounting (financial) statements. At this stage, the auditor examines the statements themselves and other Required documents, if necessary, requests clarification from the finance/accounting department.
Preparation of the conclusion. The auditor draws up a report in which he points out any deficiencies found and makes recommendations to the management and financial department of the company. Then the conclusion must be bound and certified with a signature and seal.
When conducting an inspection and writing a conclusion, you must be guided by International standards audit (MS, which can be read on the website of the Ministry of Finance (effective from January 1, 2017). In addition to it, the rules developed by the self-regulatory organization are also applied. It is important to remember that they should not contradict the ISA and their compliance is mandatory for all members of the organization.
An innovation that appeared in 2016: the customer must register the results of the mandatory audit in the Unified Federal Register of Information on the Facts of the Activities of Legal Entities.
Conclusion structure
The legislation describes in detail the mandatory components of the conclusion.
So, at the beginning there is the title “Audit Report”. Then the addressee is indicated (this can be shareholders, LLC participants, as well as other persons).
Information about the company must be provided: its name, state registration number, as well as location.
Information about the auditors themselves is also necessary: registration data, name of the self-regulatory organization of auditors, which includes audit firm or auditor.
Next comes data on the audited accounting (financial) statements: their list, the period for which they were compiled, the distribution of responsibility in relation to them between the customer and audit organization(or individual entrepreneur).
A mandatory part is information about the audit performed by auditors.
A very important part of the conclusion reflects the experts’ opinion about the reliability of the reports they have studied. At the same time, circumstances that may significantly affect its reliability are indicated.
The conclusion can be unmodified or modified. The first option is drawn up if the specialist does not find any significant discrepancies in the reporting rules, that is, all data is reflected in it properly. The second option implies three possibilities.
- Opinion with reservation. This is possible only if the detected (or possible, but not proven) discrepancies, although significant, do not affect the most significant elements of the reporting.
- Negative opinion. It is included if the expert has found evidence that the distortions, collectively or individually, significantly affect the reliability of the statements.
- Disclaimer. This option is possible if the inspector does not have enough evidence to allow him to come to any opinion regarding the reporting. At the same time, he may believe that possible distortions can significantly negatively affect it.
In accordance with current legislative norms Some enterprises must conduct an audit once a year.
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Moreover, such a procedure must be carried out in accordance with certain regulatory documents.
The regulation is presented in federal legislation. There are some special criteria for mandatory audit in 2019.
It is worth familiarizing yourself with them, as well as with all sorts of other nuances, in advance. This way it will be possible to avoid a large number of the most different problems, difficulties.
General points
Today, all companies without exception conduct audits. It can be of different types and serve different purposes. It all depends on a large number of different factors. With the help of an audit, it will be possible to solve a large number of different problems.
But first of all, all types of audits can be divided into two main groups:
- optional;
- mandatory.
Non-mandatory audit usually refers to inspections that are carried out on the initiative of the enterprise itself and its individuals. These could be the founders, executive directors, founder - if there is only one.
At the same time, for some enterprises, the legislative level establishes the need for mandatory testing once in a certain period of time.
The reasons for holding such events may vary. Usually, the first thing that is taken into account is the field of activity of a particular legal entity.
To avoid various kinds of difficulties, you will need to carefully consider the following issues in advance:
- definitions;
- for what purpose is it carried out;
- legal grounds.
Definitions
All aspects related to the statutory audit procedure are reflected in the current legislative norms.
But at the same time, for a correct interpretation, a correct understanding of this kind of procedure, it will be necessary to understand in advance all the terms used.
The basic concepts, the knowledge of which is strictly necessary, include the following:
- audit;
- proactive audit;
- auditing activities;
- auditor;
- varieties audit services;
- automation accounting;
- Accounting;
- assessment activities.
Under the term "audit" | Implies thematic audit. It can be directed, as well as general. For example, an audit of accounts receivable or accounts payable. In the same time auditing from the outside tax authorities is almost always common |
Initiative audit | An inspection initiated by the enterprise itself. Usually mandatory is also classified as proactive |
Auditing activities | This term refers to the process of conducting audit activities specific enterprise. At the same time, there is regulation of such activities at the state level. |
Auditor | An individual who carries out inspections of this type |
Types of audit services | List of services provided by a specific auditing company |
Accounting | The procedure for reflecting all business transactions that take place in the enterprise |
Automation of accounting | The process of using special software tools with which all economic activity reflected in documentation with minimal human intervention. This way you can minimize the likelihood of making any errors when preparing reports. |
Tax accounting | The process of reflecting information related to the formation of deductions in favor of state budget. An enterprise usually pays quite a lot of attention to this section of reporting. |
"Evaluation activity" | This concept refers to actions that allow you to determine the cost of something. This procedure is mandatory performed during an audit. Moreover, regardless of its type – proactive, including |
For what purpose is it carried out?
Regardless of the type of audit required, it allows you to simultaneously solve various types of problems. The main ones today include the following.
With the help of such a check it will be possible to achieve the following goals:
Mandatory audit is assigned to enterprises that, in the opinion government agencies, special supervision is required.
Legal grounds
Today, regardless of the type of audit, the goals of its implementation, it is necessary to focus on
This regulatory document includes the following main sections:
What is the activity of an auditor, what responsibilities does he have? | |
Includes the full liver of legislative acts regulating the activities of the auditor | |
Requirements for the activities of companies specializing in auditing | |
Basic requirements for a person who can engage in such activities | |
How is an auditor's report issued and what is included in it? | |
What is meant by the independence of audit institutions, as well as the auditors themselves? | |
Grounds for revocation of an audit certificate, the procedure for carrying out such a procedure itself | |
List of rights and responsibilities of the auditor himself, the audit company | |
List of rights and obligations of the legal entity whose audit is being carried out | |
The procedure for state regulation of the activities of auditors | |
What is advice for this type of activity? | |
The issue of the activities of a self-regulatory organization is covered | |
What are the requirements for those wishing to become a member of a self-regulatory organization? | |
The procedure for compiling a register of audit companies is regulated | |
Disciplinary and other sanctions against auditors whose activities are unsatisfactory or have obvious violations |
Criteria for conducting a mandatory audit in 2019
Mandatory audit is a special type of inspection, which is carried out in accordance with special regulations.
Persons involved in this type of audit should familiarize themselves with the following questions in advance:
- scroll;
- nuances for LLC;
- for municipal unitary enterprises.
Scroll
Federal Law No. 307-FZ of December 30, 2008 reflects full list cases where the implementation of an audit of this type is strictly necessary.
The full list includes the following:
If there is a change | Organizational and legal form enterprises |
Shares and other securities | Were admitted to trading on a special exchange |
If the company is |
|
If the total revenue for the past year | Amounted to more than 400 million rubles |
If the amount of assets of the enterprise | For some reason, at the end of the year more than 60 million rubles |
If the company carries out | Provision and publication of consolidated (financial) statements |
There are also other cases when an audit of the type in question is mandatory. Similar cases are regulated by special federal legislative acts.
Nuances for LLC
In accordance with legal regulations in all cases without exception joint stock companies mandatory audits are carried out.
In addition to the limited liability company, such enterprises include the following:
- JSC and many others.
It is necessary to remember large quantities nuances. First of all, the legislation is constantly being reformed.
Therefore, it is necessary to familiarize yourself with all reforms in a timely manner. For example, in 2019, all LLCs are required to conduct a statutory audit, regardless of the amount of revenue.
For municipal unitary enterprises
The main difference between municipal, unitary enterprises and all others is that for them a special list situations where a mandatory procedure must be carried out.
For example, it will be required if municipal, government agencies I publish financial statements and submit them in consolidated form.
These types of enterprises include the following:
- government departments;
- organs local government;
- state extra-budgetary fund;
- other.
In what cases is an audit mandatory? In what “other cases” provided for by the Federal Law of December 30, 2008 No. 307-FZ “On Auditing Activities” (hereinafter referred to as Law No. 307-FZ), is the company 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 whether a company is subject to mandatory audit or not? Article 5 of Law No. 307-FZ outlines the following grounds for conducting a mandatory audit.
Organizational and legal form of the company
Let us recall that the Federal Law of December 1, 2014 No. 403-FZ (came into force on December 2, 2014) expanded the type of organizations in respect of which obligatory , 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 - CJSC, OJSC, PJSC and JSC).
Important!
Current legislation 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 state participation (clause 4 of article 5 of Law No. 307-FZ).
Agreement to conduct a mandatory audit of the accounting (financial) statements of an organization in the authorized (share) capital of which is a share state property is at least 25%, as well as for conducting an audit of accounting (financial) statements state corporation, state company, state unitary enterprise or municipal unitary enterprise is concluded based on the results of placing an order through bidding in the form of an open competition in the manner prescribed by the Federal Law of 04/05/2013 No. 44-FZ “On the contract system in the field of procurement of goods, works, services for the provision of public and municipal needs" (hereinafter referred to as Law No. 44-FZ).
From January 1, 2016, companies are required to carry out procurement planning, including planning for the acquisition of audit services. And according to Article 16 of Law No. 44-FZ, the costs of conducting a mandatory audit must be included in the procurement plan formed by the company organizing the competition for the period of the budget, i.e. for a period of at least 3 years. An open competition 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 securities market, funds (non-state pension funds (with the exception of state extra-budgetary funds), mutual funds, AIF).
Compliance with established indicators of financial and economic activity
with the volume of revenue from the sale of products (goods, works, services) for the previous reporting year exceeding 400 million rubles (with the exception of state authorities and local governments, state and municipal institutions, state unitary enterprises and municipal unitary enterprises, agricultural cooperatives and their unions) or
with the amount of assets balance sheet at the end of the previous reporting year more than 60 million rubles.
Let us remind you that currently “simplified” companies are required to maintain and prepare accounting (financial) statements. And if the revenue volume of the “simplified” exceeds 400 million rubles. or the amount of balance sheet assets at 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
The following companies are subject to mandatory audit:
whose securities are admitted to organized trading;
presenting and (or) publishing summary (consolidated) accounting (financial) statements. Exceptions include state authorities and local self-government, state off-budget fund, 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 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. 244-FZ “On government regulation activities for organizing and conducting gambling and on introducing amendments to certain legislative acts of the Russian Federation", for political parties - Federal Law dated July 11, 2001 No. 95-FZ "On Political Parties", for the Russian Science Foundation - Federal Law dated November 2. 2013 No. 291-FZ “On the Russian Science Foundation and amendments to certain legislative acts of the Russian Federation.”
The accounting (financial) statements of state unitary enterprises and municipal unitary enterprises are subject to mandatory audit in cases determined by the owner of such property. So, according to paragraph 1 of Article 26 Federal Law dated November 14, 2002 No. 161-FZ “On State and Municipal Unitary Enterprises” (hereinafter referred to as Law No. 161-FZ) accounting (financial) statements unitary enterprise in cases determined by the owner of the property of a unitary enterprise, it is subject to mandatory annual audit by an independent auditor. At the same time, 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 (clause 16, clause 1, 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 volume 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 mandatory audit, it must be carried out annually (clause 2 of article 5 of Law 307-FZ).
Changes in mandatory audit in 2018-2019.
Regardless of their form of ownership, enterprises must use audits to confirm the accuracy of their reporting. Experts who have a license to conduct such analysis perform complex work. Specialists of GC "Audit A" provide services for conducting mandatory audits. This year, organizations that meet one of the following parameters are subject to this procedure:
- the enterprise is a joint stock company, credit institutions, NPF;
- the enterprise is classified as investment funds, insurance companies;
- the company's securities have access to exchange trading;
- business revenue is more than 400 million rubles. (excluding VAT);
- Consolidated financial statements are published.
Mandatory audit in 2018-2019. at enterprises in the form of an LLC, it is carried out in the presence of one more condition - the amount balance sheet assets exceeds 60 million rubles. The analysis is carried out taking into account not only Russian, but also ISA standards. Evasion or refusal of this procedure entails a fine. Therefore, it is necessary to promptly seek advice from the experts of the Audit A Group of Companies. After analyzing the situation, specialists will be able to determine whether the company is subject to mandatory audit this year. If the answer is yes, the staff will offer best option cooperation.
Features of the mandatory audit of closed joint stock companies and LLCs in 2018-2019.
The JSC should place an order to conduct a mandatory audit in 2018-2019. before the publication of annual reporting documents. For closed joint-stock companies, such an analysis is mandatory if the type of their business falls under the Federal Law “On Auditing Activities”. CJSCs with a state ownership share of more than 25% are also subject to this procedure. Limited liability companies, which are one of the most common forms of business in Russia, order an analysis when exceeding financial indicators(with annual revenue of more than 400 million rubles).
Independent assessment of financial and accounting documentation during a mandatory audit, it is confirmed by an official conclusion. The experts conducting the analysis also provide detailed recommendations. They help eliminate shortcomings and violations that were discovered during the reporting study.
note
The Audit A Group of Companies is performing a mandatory audit this year. Our experts conduct analysis, provide clients with detailed advice, and help eliminate identified errors in a timely manner. An audit benefits companies regardless of their form of ownership.
If your company does not meet the criteria for a mandatory audit, you can order an initiative audit. In any case, contact us! Individual conditions cooperation and comprehensive support in the field of taxation and accounting are guaranteed. GC "Audit A" is at your service! Call for detailed information.
Law No. 307-FZ dated December 30, 2008 defines an audit as an independent verification of an organization’s accounting records, when the auditor expresses an opinion on its reliability in his conclusion (clause 3 of Article 1 of Law No. 307-FZ). Such an audit can be carried out at the request of the organization, that is, voluntarily, but for some legal entities the audit is required by law. We will consider the criteria for mandatory audit in this article.
What are mandatory audit criteria?
There is no unambiguous closed list of criteria in the audit legislation. All cases where a mandatory audit of financial statements for 2016 should be carried out were collected in the information of the Ministry of Finance of the Russian Federation. This list includes the following main criteria for mandatory audit in 2017:
- conducting a certain type of activity,
- excess established limits income or assets,
- a certain organizational and legal form,
- belonging to a specific organization,
- presentation of consolidated statements.
Companies should conduct a mandatory audit, the criteria for which are given above, annually. The results of the audit are formalized in an audit report and are subject to entry into the Unified Federal Register of information on the facts of the activities of legal entities.
Statutory audit for 2017 - criteria
We list for which organizations at the end of 2017 it will be mandatory to have auditor's report, based on the main criteria for mandatory audit:
- for organizations that are credit bureaus credit histories, organizations that are professional participants in the securities market, insurance companies, mutual insurance companies, clearing organizations, trade organizers, gambling organizers, lottery operators, special depositories, non-state pension, joint stock investment and other funds, management companies of mutual funds or non-state pension funds, as well as organizations which have securities and others admitted to trading;
- for organizations whose revenue for 2016 exceeded 400 million rubles, or whose balance sheet assets as of December 31, 2016 amounted to more than 60 million rubles; these criteria for conducting a mandatory audit in 2017 do not apply to state unitary enterprises, municipal unitary enterprises, agricultural cooperatives and government agencies;
- absolutely for all joint-stock companies, as well as funds, state corporations, state-owned companies, federal state unitary enterprises, public law companies;
- for the Central Bank of the Russian Federation, the Deposit Insurance Agency, state corporations Rostec, Rosatom, JSC Russian Railways, the Credit Assistance Fund, etc., in this case, the criterion for mandatory audit is belonging to a specific organization;
- for organizations presenting or disclosing annual consolidated financial statements.
Such criteria for conducting a mandatory audit are provided for in Art. 5 of Law No. 307-FZ and other laws of the Russian Federation. For example, the law of December 1, 2007 No. 315-FZ obliges to conduct audits in self-regulatory organizations (clause 4 of Article 12 of Law No. 315-FZ), and according to the law of December 30, 2004 No. 214-FZ, the developer’s reporting is subject to a mandatory audit, clause 9. 4 tbsp. 18 of Law No. 315-FZ). Housing savings cooperatives, government, microfinance and other organizations are also subject to audit.
Mandatory audit - 2017 criteria for LLC
Availability of an audit report in the composition annual reporting, specifically for limited liability companies, is not stipulated by Law No. 315-FZ, but if the LLC falls under any of the criteria listed above, then an audit is mandatory for it.
Thus, in 2017, a mandatory audit is required for LLCs, the criteria of which are as follows:
- revenue in 2016 excluding VAT exceeds RUB 400 million, or
- balance sheet assets as of December 31, 2016 exceed 60 million rubles.
If such an LLC belongs to small businesses, this status does not exempt it from mandatory audit.
The LLC Law of 02/08/1998 No. 14-FZ provides for an audit by decision general meeting members of the company, and a mandatory audit is required if this is established by other laws and regulations (Article 48 of Law No. 14-FZ).
If there is no mandatory audit (2017 criteria): fines
The auditor's report is not included in the annual financial statements, submitted to the Federal Tax Service, but it must be present in the set of accounting reports submitted to the statistical authorities.
Failure to submit an audit report as part of the reporting to Rosstat, or violation of the deadline for submission for an organization will result in a fine of 3 to 5 thousand rubles, for officials - 300-500 rubles. (Article 19.7 of the Code of Administrative Offenses of the Russian Federation).
If an audit was not carried out at all, and the organization does not have a mandatory audit report, this is a gross administrative violation, for which a fine of 5 to 10 thousand rubles is imposed on the company’s management. In case of repeated violation, the fine will increase to 20 thousand rubles. or the official will be disqualified for 1-2 years (Article 15.11 of the Administrative Code of the Russian Federation).
If there is no mandatory audit according to the 2017 criteria for an LLC, the penalties will be similar.
For JSC, the fines are much more significant - disclosure of information not in full, including accounting records without an audit report, threatens administrative fine in the amount established by clause 2 of Art. 15.19 Code of Administrative Offenses of the Russian Federation:
- 30-50 thousand rubles. for officials (or their disqualification from 1 to 2 years),
- 700 thousand – 1 million rubles. for the organization.
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