Programs / 14.05.2020

Lectures on the discipline of audit at the College of Education. Audit - a course of lectures. Financial investment audit

1.2. Purpose, objectives and principles of the audit …………………………………………… 8

1.3. Users of materials of audit reports …………………… ..13

1.4. The difference between audit and other forms of economic control …………… ..14

1.5. Basic concepts in audit …………………………………………… ... 17

1.6. Professional ethics of the auditor ……………………………………… ... 18

1.7. Types of audit and audit services…………………………………………23

2. Legal regulation and organization of audit activity in Russia

2.1. Bodies of state regulation of audit activity

in Russia ……………………………………………………………………… ..30

2.2. Self-regulation of audit activity ………………………… ..32

2.3. Legal Basis of Auditing Activity in Russia ………………… ... 34

2.4. International and domestic auditing standards

activities ………………………………………………………………… ..35

2.5. Rights and obligations of auditors and audited economic

subjects ………………………………………………………………………… 38

2.6. Internal and external quality control of auditors' work and

audit organizations ………………………………………………… ..... 40

2.7. Professional training and certification of auditors ………………… 43

3. Preparation for an audit of an economic entity

3.1. Main stages of audit ………………………………………………… .47

3.2. Audit Client Selection …………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 53 53

3.3. Audit planning …………………………………………………… .54

3.4. Examining and evaluating the system accounting and internal

customer control …………………………………………………………… ... 56

3.5. Assessment of risks and materiality level …………………………………………………………………………………………………………………………………………… 61

4. Methodological approaches to audit

4.1. Audit sample …………………………………………………… .70

4.2. Audit evidence: types, sources, assessment …………………………………………………………………………………………………………………… 73

4.3. Audit methods …………………………………………… .75

4.4. Audit procedures ………………………………………………… 75

4.5. Documenting the audit ……………………………………………… .79

4.6. Types of misstatements and factors affecting the degree of risk

their appearance ………………………………………………………………… ..80

5. Generalization and presentation of the results of the audit

5.1. Written information (report) of the auditor to management

of the audited economic entity ……………………………………… .82

5.2. Auditor's report: preparation procedure, types, characteristics ... 84

5.3. The auditor's assessment of events after the reporting date and the reflection of this

assessments in the auditor's report ……………………………………………………………………………………………………………………… ..... 88

CHAPTER II ... PRACTICAL AUDIT

6. Audit of constituent documents and formation of the charter

capital ………………………………………………………………………… 91

7. Audit of the organization of accounting and accounting policies ……… 96

8. Audit of settlement transactions …………………………………………… ..99

9. Audit credit operations

10. Audit financial investments

11. Audit of operations with fixed assets and intangible assets ……………………………………………………………………………. 125

12. Audit of inventories …………………… ... 129

13. Audit of cash transactions …………………………… .133

14. Audit of production costs and calculation of production costs

15. Audit of formation financial results……………………...136

16. The role of financial analysis in auditing …………………………………………………………………………………………… 143

CHAPTER I ... FUNDAMENTALS OF AUDIT

1. The essence of the audit, its content, goals and objectives

1.1. Background and history of audit development

Audit has a long history. It is believed that, in fact, even in Ancient Egypt (about 2600 BC) there were officials who combined the functions of accounting, management and control.

In the Roman Empire (1 - 26 AD), control functions were carried out by special employees (curators, procurators, quaestors). After the fall of the Roman Empire, auditing became widespread in Italy. The merchants of Florence and Venice used the labor of auditors to check the solvency of the captains of the merchant ships who were carrying enormous wealth to their continent. At this time, the audit had a strictly targeted direction - error prevention.

The birthplace of modern audit is England. Written records indicating the existence of an audit in England date back to the 13th-14th centuries. Audit techniques at that time were mainly in the detailed verification of each operation.

Several periods can be distinguished in the history of the development of audit:

1500 - 1860;
1860 - 1905;
1905 - 1933;
1933 - 1940;
from 1940 to the present.

The first period ended in 1500 BC This date is marked arbitrarily, but it most accurately reflects the state of "turning point" in the general economic situation. One of the reasons for this was the discovery of America, and as a result of the increase in the volume of goods, capital, labor on a global scale. Another reason - 1494 is rightfully considered the date of the founding of the doctrine of the double entry (Luca Pacioli).

1500 - 1860 The objectives and techniques of the audit were to detect errors and verify the integrity of those responsible for tax payments. At this time, the importance of auditing increased significantly, since there was a division between the owners of the enterprise: managers and investors. Shareholders not only required a guarantee of capital safety, but also receive dividends. Only an auditor could give an opinion on the fidelity and objectivity of the audited financial statements and the likelihood of continuing the business in the near future. There was an understanding of the necessity and importance of the existence of an internal control system. The reason why 1860 was chosen as the end date of this period was that the Crimean War caused certain changes in the economies of all countries, and this led to a change in the goals and methods of audit.

1860 - 1905 The period is characterized by rapid economic growth. The huge deals led to the creation of corporations. This period was marked by the appearance of the consolidated balance sheet (1904).

All this increased the role and importance of the audit institution. The need for internal control was recognized. But he was assigned the role of a body that took part not in checking and detecting errors, but in creating a unified standard accounting system. The main focus was on the control system cash flows... Since both the accounting system and the organizational structure underwent significant changes in the direction of strengthening, then auditors could already use sampling techniques. Testing came into use only in the last decades of the 19th century. In a rapidly growing production environment, the auditor could no longer audit every operation of a huge corporation. Until 1905, the limiting factor in the scope of testing was changes and innovations in the system of accounting and internal control. The objectives of the audit at this time are to detect all kinds of deliberate errors.

1905 - 1933 Historically, the United Kingdom and the United States have been the main centers for the development of auditing. In the modern sense, audit began to take shape in the 19th century during the development of market relations. The rise of capitalism was accompanied by massive bankruptcies of companies, the main reason for which was the dishonesty and abuse of company managers. Accordingly, bankrupt shareholders needed protection, while potential investors and shareholders needed reliable information about the state of affairs in companies. These objective data could only be provided by a specialist independent of the firm, who became the auditor.

At the beginning of the twentieth century. American audit began to develop independently, since US entrepreneurs recognized the impossibility of applying the goals and approaches of English audit to the specifics of their business. Early work on American auditing characterized changing objectives as follows: detecting and preventing unintentional errors. Later, the objectives of the audit were:

establishment of the financial condition and profitability of the enterprise;

preventing intentional and unintentional mistakes is a secondary goal.

In accordance with the change in goals, there have been significant changes in techniques. There is a shift from detailed validation to testing. It became clear that in order to obtain the actual amounts verified during the audit, it was not necessary to conduct a detailed review of each transaction for the period under study. The importance of internal control is being recognized. The Audit Programs, published in 1909, noted that the first stage of audit should be "the establishment of a system of internal review."

During the period 1933 - 1940 auditing is influenced by the New York Stock Exchange and government agencies. At the beginning of this period, most authors agreed that the task of the audit is to find an error. Later views were significantly changed, and it was found that the auditor should not focus only on finding an error.

Until 1940, there were no documents defining the responsibility of auditors for the detection of errors. It was noted only that this is a rather important issue, but most of the authors agreed that it cannot be attributed to the main task of the audit.

Since 1940 so far, the audit objectives have undergone minor changes. The emphasis was on confirming the accuracy of financial statements. Officially, this provision was proclaimed in the documents of the "American Institute of Chartered Accountants": "The first purpose of the audit of the accounts by an independent auditor is to express an opinion on the financial statements presented."

Some of the newly developed audit techniques were strictly error-oriented. In 1961, it was established that the auditor determines the error, and if it is material, it can have a negative impact on his opinion on the accuracy of the financial statements presented and the audit in accordance with generally accepted auditing standards, he must assess the degree of its probability.

Another view on audit objectives is that the objective of the independent review is to express an opinion on the information included in the financial statements. As for the responsibility of the auditor, it consists only in conducting tests in accordance with generally accepted auditing standards, designed in such a way as to detect the very possibility of determining the type of nonconformities, i.e. the auditor is not responsible for undetected errors, but he should not be relieved of responsibility for checking the bottleneck in the audit process.

Until the end of the 40s, the audit mainly consisted of checking the documentation, confirming the record monetary transaction and the correct grouping of these transactions in the financial statements. This was a confirmatory audit.

After 1949, independent auditors began to pay more attention to internal control issues, believing that with an effective system of internal control, the likelihood of error is negligible, and financial data are sufficiently complete and accurate. Auditing firms began to engage in more consulting activities than directly auditing. This marked the beginning of a system-oriented audit.

In the early 70s. development of international auditing standards began. Certain trends can be traced in the audit history:

the main purpose of the audit has always been recognized as establishing the reliability of the reports presented;

there is an increase in the reliability of internal control and a decrease in the detailing of goals.

In Russia, the title of auditor was first introduced by Peter 1. Auditors were called sworn accountants. However, at that time, there was no internal public need for auditing in the country, since the vertical principle of control prevailed, i.e. audit, not audit. Paying an auditor who exposed the flaws in the job seemed odd and overkill.

The question of the need for an audit arose from the beginning of market transformations. The following stages in the development of audit in Russia can be distinguished:

MINISTRY OF EDUCATION AND SCIENCE OF THE RUSSIAN FEDERATION

FEDERAL STATE BUDGET

EDUCATIONAL INSTITUTION

HIGHER PROFESSIONAL EDUCATION

"UFA STATE UNIVERSITY

ECONOMY AND SERVICE "

Department-developer Accounting, analysis, audit and statistics

Lecture course of discipline "audit"

Part 1 "audit basics"

Head of the department "Accounting, analysis,

audit and statistics "________________

Minutes No. ____ "____" ____________2013

Developer _____________ Kuchukova N.M.

Ufa 2013

Thematic content of the course

System audit financial control In Russian federation.

The emergence of audit. The need for an audit. The essence of the audit and its economic conditionality. Users of materials of audit reports, their focus and content. Goals and objectives of the audit. Auditing principles. Basic principles of auditing. The relationship of audit with other forms of economic control. State financial control. Place of audit in the control system. Audit and revision. Forensic accounting expertise. The difference between audit and revision. The relationship between audit and accounting. Types and classification of audit. External and internal audit, mandatory and proactive, general, investment, insurance and banking audit; financial, management (operational) and compliance audit; initial, periodic; confirmatory, system-oriented and risk-based. Services related to the audit and their classification. The professional code of ethics for the auditor. Auditor independence.

Regulation of audit activities. Legal foundations of auditing in Russia. Federal Law “On Auditing”. Bodies regulating the audit activity in the Russian Federation. Accredited professional audit associations. Professional audit organizations and their role in the regulation of audit activities. Rights and obligations of auditors and audit organizations. The rights and obligations of economic entities. Responsibility of auditors and audit organizations. Responsibility of audited organizations. Professional liability insurance for auditors. Auditor secrecy.

Certification of auditors. Control of the level of professionalism of auditors. Certification system for the right to carry out audit activities. The procedure for attestation for the right to engage in audit activities.

Licensing of auditing activities. Licensing of audit activity as a method of state control over compliance with legislation in the field of audit. Procedure for issuing licenses. Grounds and procedure for cancellation of licenses for the right to engage in auditing activities.

The role of international and national standards in the development and improvement of audit activities. Objectives and basic principles of auditing standards. Classification of auditing standards. International auditing standards. Russian rules(standards) of auditing. Internal audit standards.

Audit quality control. Audit quality control tools. Organization of external audit quality control. In-house audit quality control.

Preparation of audits. The choice of an auditor or audit organization by an economic entity. The choice of an economic entity by audit organizations and auditors. Sources of information about the client, express analysis for the client, preliminary negotiations. Motivation for refusing to conduct an audit. Audit object. Audit letter. Conditions for its preparation, form and content of the letter. Understanding the activities of an economic entity. Agreement for the provision of audit services. Assessment of the cost of audit services

Audit planning. The main stages of the audit. Audit planning. Preliminary planning stage. The content of the overall audit plan and program. Preparation of a general plan and program for the audit. Materiality in an audit. Methods for determining the level of materiality. The relationship between materiality and audit risk. Types of risk. Audit risk, its constituent elements and assessment procedure. Study and assessment of accounting and internal control systems during the audit.

General methodological approaches to audit. Audit sampling. Audit evidence, their types and classification. The relationship between evidence. Assessment of the collected evidence. Audit methods. Audit procedures. Substantive procedure and analytical procedure. Documenting the audit. The auditor's working documents, their composition, content, procedure for registration, use and storage.

Audit report. The structure of the auditor's report. Types of audit reports. An unconditionally positive opinion and a modified one. The procedure for drawing up and providing an auditor's report. Events after the reporting date. the auditor's actions to identify and evaluate them. the auditor's responsibility for expressing an opinion on the assessment of these events. Written information of the auditor to the management of the economic entity based on the results of the audit

The emergence and development of audit goals and techniques 4

Concept, objectives and organization of audit activity 8

The concept of auditing 8
Audit Goals and Objectives 10
Rights and obligations, responsibilities of the auditor 12
Auditor Ethics 14

Types of audit 16

Internal and external audit 16
Compliance audit 18
Financial Statement Audit 19
Mandatory and voluntary audit 19
Initial and agreed audit 19
Classification from the perspective of the auditor 20
Classification in terms of direction 20

Types of audit services 21

Financial audit audit economic activity 21
23
Consulting on taxation, tax planning 24
Legal advice 25
Legal advice on the legal responsibility of data processing 26

Audit Technological Basis 27

Initial audit phase 27
Planning an audit 27
Audit Evidence 31
Fraud and error concept 32
The procedure for preparing and drawing up a part of the auditor's report. Types of the auditor's report 33

Checking cash transactions 35

35
Verification methods cash transactions on bank accounts 36
The main stages of checking cash transactions 37
The main stages of verification banking operations 37
Checking the legality of cash transactions 38

Checking accounting of settlement and credit transactions 40

Objectives of verification and sources of information 40
Methods for checking the settlement relationships of an economic entity, the effectiveness of its work with receivables and payables 41
Verification of long-term and short-term loans 43
Methods for checking the credit relationship of an economic entity 44

Verification of transactions in property, plant and equipment and intangible assets 46

Objectives of verification and sources of information 46
Checking OS motion operations 47
Checking the correctness of documentary registration of capitalization of fixed assets and their write-off 47
Checking the correctness of the assessment and revaluation of fixed assets, accrual of depreciation deductions, capital and current repairs of fixed assets 48
Verification of transactions for the acquisition and movement of intangible assets 49

Checking cost accounting and calculating the cost of production 51

Purposes and sources of information 51
Checking the correctness of the allocation of costs to main and auxiliary production, work in progress 51

Audit of sales and finished products 55

Objectives of verification and sources of information 55
Checking the correctness of reflection of the sale of finished products 55

Audit of the formation of financial results 58

The emergence and development of audit goals and techniques

Auditing in Western theory and practice is considered to be a process by which a competent independent worker accumulates and evaluates evidence of quantifiable information related to a specific business system in order to determine and express in his opinion the degree to which this information meets the established criteria.

Audit has a long history. It is believed that in fact, even in Ancient
In Egypt (about 2600 BC) there were officials who combined the functions of accounting, management and control.

In the Roman Empire (1 - 26 AD), control functions were carried out by special employees (curators, procurators, quaestors). After the fall
Roman Empire audit was widespread in Italy. Merchants
Florence and Venice used the labor of auditors to check the solvency of the captains of the merchant ships, who transported enormous wealth to their continent. At this time, the audit had a strictly targeted direction - error prevention.

The birthplace of modern audit is England. Back in the 9th century. the impetus was given to "count and measure" in British economic life. When the ancient cults preserved in the country and in Normandy, the accounting techniques of the Romans received a new everyday application to the accounting of economic phenomena.

Already in those days from general concept"Accountant" the related concept of "auditor" is highlighted. The former retains the functions of the person organizing and maintaining accounts in his daily activities, while the latter is assigned independent independent functions of the controller who checks the accounts.

Written records indicating the existence of auditing in
England, date back to the 13-14 centuries. Auditing techniques at that time were mainly in the detailed verification of each operation.

Testing or spot checking, like audit procedures, was unknown.

Several periods can be distinguished in the history of the development of audit:

1.up to 1500;

2.1500 - 1830 (1860);

3.1830 (1860) - 1905;

4.1905 - 1933;

5.1933 - 1940;

6. from 1940 to the present.

The first period ended in 1500. This date is marked arbitrarily, but it most accurately reflects the state of "turning point" in the general economic situation. One of the reasons for this was the discovery of America, and as a result of the increase in the volume of goods, capital, labor on a global scale.
Another reason is that 1494 is rightfully considered the date of the founding of the doctrine of the double entry (Luca Pacholli).

1500 - 1830 (1860) The objectives and methods of the audit were not changed and consisted of detecting errors and checking the integrity of those responsible for tax payments. At this time, the importance of auditing increased significantly, since there was a division between the owners of the enterprise: managers and investors.
Shareholders not only required a guarantee of capital safety, but also receive dividends. Only an auditor could give an opinion on the accuracy and objectivity of the audited financial statements and on the likelihood of continuing the business in the near future. An understanding of the necessity and importance of the existence of an internal control system has come. The reason why 1860 was chosen as the end date of this period was that
The Crimean War caused certain changes in the economies of all countries, and this led to a change in the goals and methods of audit.

1860 - 1905 The period is characterized by rapid economic growth. The huge deals led to the creation of corporations. This period was marked by the appearance of the consolidated balance sheet (1904).

All this increased the role and importance of the institution of auditing. The need for internal controls was recognized. But he was assigned the role of a body that took part not in checking and detecting errors, but in creating a unified standard accounting system. The main focus was on the cash flow control system. Since both the accounting system and the organizational structure underwent significant changes in the direction of strengthening, then auditors could already use sampling techniques. Testing came into use only in the last decades of the 19th century. In a rapidly growing production environment, the auditor could no longer audit every operation of a huge corporation. Until 1905, the limiting factor in the scope of testing was changes and innovations in the system of accounting and internal control. The objectives of the audit at this time are to detect all kinds of deliberate errors. Historically, the United Kingdom and the United States have been the main centers for the development of audit. In the first ten of the twentieth century. American audit began to develop independently, since US entrepreneurs recognized the impossibility of applying the goals and approaches of English audit to the specifics of their business.

Early work on American auditing characterized changing objectives as follows: detecting and preventing unintentional errors. Later, the objectives of the audit were:

Establishment of the financial condition and profitability of the enterprise;

Preventing intentional and unintentional mistakes is a secondary goal.

1933 - 1940

Auditing is influenced by the New York Stock Exchange and government agencies;

There was no consensus regarding the objectives of the audit.

At the beginning of this period, most authors agreed that the task of the audit is to find an error. Later views were significantly changed, and it was found that the auditor should not focus only on finding an error.

From 1940 to the present, the audit objectives have undergone minor changes. The emphasis was on confirming the accuracy of financial statements.
Officially, this provision was proclaimed in the documents of the "American
The Institute of Sworn Accounting ":" The first purpose of the audit of the accounts by an independent auditor is to express an opinion on the financial statements presented. "

Some of the newly developed audit techniques were strictly error-oriented. In 1961, in the "Regulations on Auditing Procedures No. 30" it was established that the auditor identifies an error, and if it is material, it can have a negative impact on his opinion on the accuracy of the financial statements presented and on the audit in accordance with generally accepted auditing standards. , he must assess the degree of its likelihood.

Until the end of the 40s, the audit mainly consisted of checking documentation, confirming the recording of a monetary transaction and the correct grouping of these transactions into financial statements... This was a confirmatory audit.

In the early 70s. development of international auditing standards began. Certain trends can be traced in the audit history:

The main purpose of the audit has always been recognized to establish the reliability of the reporting;

An increase in the reliability of internal control and a decrease in the detailing of goals are noted.

Concept, objectives and organization of audit activity

1. The concept of auditing

2. Goals and objectives of the audit

3. Rights and obligations, responsibility of the auditor

4. Ethics of the auditor

The concept of auditing

Audit control is widely used in world practice. It is based on the mutual interest of the state, the administration of enterprises and their owners in the reliability of accounting and reporting. In a planned, centrally controlled economy, there was no need for independent financial control in the Russian Federation. It was completely replaced by a system of departmental and non-departmental control aimed at identifying violations and abuses in the financial and economic activities of enterprises, errors and deviations in reporting, finding and punishing those responsible. The development of market relations necessitates the adoption a large number new normative documents regulating new issues of enterprises' activities; accounting and reporting; taxation and the procedure for the formation of the cost of production. In this regard, the first violations (sometimes unintentional) appeared in compliance with the requirements of regulatory documents related to the economic activities of the enterprise. The bodies that were entrusted with the responsibility of assisting enterprises in the correct application of certain legislative acts themselves, due to their small number and work overload, were not ready for such work. In this regard, it becomes necessary to create a new form of control over the activities of enterprises, which would include consulting on the organization and maintenance of accounting, the correctness of tax calculation, legal position and other types of services. Owners and, above all, collective owners, as well as creditors, are deprived of the opportunity to independently verify that all the numerous operations of the enterprise, often very complex, are legal and correctly reflected in the reporting. Because they usually do not have access to accounts, relevant experience, and therefore need the services of auditors.
Independent confirmation of information on the performance of enterprises and their compliance with legislation is necessary for the state to make decisions in the field of economics and taxation.

Audits are required by government agencies, courts, prosecutors and investigators to confirm the financial statements they are interested in.

The concept of an audit is much broader than an audit or other form of control, because includes not only verification of the reliability of financial indicators, but also the development of assumptions to improve the economic activities of enterprises in order to rationalize costs and optimize taxes. The concept of auditing is determined by the temporary rules of auditing in the Russian Federation.

Auditing activity - audit - is the entrepreneurial activity of auditors (audit firms) to carry out independent non-departmental audits of accounting or financial statements, payment and settlement documentation of certain business transactions, tax returns and other types of financial obligations and claims of economic entities on a contractual basis.

Many authors interpret both the classification features and the very concept of audit in different ways. The concept of audit by Ugolnikov in the article "Audit History":
"Auditing is the process of reviewing the conduct of accounting and in institutions in terms of its reliability and fairness."

"Auditing is a systematic process of obtaining and evaluating evidence of the reliability of data about economic actions and events, determining the degree to which these data meet the established criteria and communicating the results to interested users."

“Audit is a systematic process carried out by a person or group of persons independent of external factors, based on the results of control and their opinion. Based on established criteria and standards regarding the information that the audit entity provides to third-party users in its activities and its prospects. "

The auditing standards for auditing activities provide the following definition:

“Audit is an independent examination of the financial statements of an enterprise based on checking compliance with the accounting procedure, compliance with business and financial transactions the legislation of the Russian Federation, the completeness and accuracy of the reflection in the financial statements of the activities of the enterprise. The examination ends with the drawing up of an auditor's report. "

Despite some differences in the definition of audit, almost all authors emphasize one or another of its features:

Independence;

Paid;

Confidentiality.

Sometimes it is viewed too narrowly and limited only to checking the accounts of non-state actors. In other cases, it is extremely broad, identifying with any accounting activities... Such a spread in the understanding of audit is also due to the fact that this concept is adopted from Western literature.

In countries with developed market economies, where audit has emerged for a long time, the concept of audit is interpreted in a very diverse way. In England, audit refers to the independent review and expression of an opinion on the financial statements of an enterprise. At the same time, the term "audit" is used not only when checking enterprises that fall under the Law on Companies or the law on industrial or other companies, but also when drawing up an audit of government agencies and local authorities, as well as when providing audit services to clients by agreement ...

Jack Roberton noted that audit refers to the process of reducing to an acceptable level of information risk (i.e. the likelihood that financial statements contain false or inaccurate information) for users financial statements.

An independent auditor checks the reliability of the company's reporting, compliance with the current legislation and drawing up an auditor's report on this matter. There are several specific rules regarding the activities of auditors:

1. free choice of auditors (audit firm) by business entities;

2. contractual relationship between the auditor and the client, allowing the auditor to choose his client himself and be independent from the instructions of any government authorities;

3. the ability to refuse to issue an audit report to the client until the noted deficiencies are eliminated;

4. the impossibility of an audit in case of family or business relationship with the client, which exceeds the contractual relationship regarding the audit activity;

5. prohibition of auditors and audit firms to engage in economic, commercial and financial activities not related to the implementation of audit, consulting and other services permitted by law.

Goals and objectives of the audit

The main purpose of the audit activity is to establish the reliability of the accounting or financial statements of economic entities and the compliance of their financial and business transactions with the regulations in force in the Russian Federation. Therefore, the purpose of an audit is to check the financial statements with the aim of:

Confirmation of reliable reports or consultation of their unreliability;

Verification of the completeness, reliability and accuracy of the reflection in the accounting and reporting of costs, income and financial results of the enterprise for the audited period;

Monitoring compliance with legislative and regulatory documents governing accounting and reporting rules, methodological assessment of assets, liabilities and equity capital;

Identification of reserves for the best use of own fixed and circulating assets, financial reserves and borrowed sources.

During the audit, the correctness of the balance sheet, profit and loss statement, the reliability of the data is established explanatory note... This determines:

Are all assets and liabilities reflected in the report;

Whether all documents are used in the report and to what extent the actual method of property valuation deviates from the one adopted in determining the accounting policy of the enterprise.

The auditor checks the profit and loss account to establish the correctness of the balance sheet calculation and taxable profit.

In order to achieve the main objective and to provide an opinion, the auditor examines the following issues:

1.the general acceptability of reporting (whether the reporting as a whole meets all the requirements for it);

2. Reasonableness (whether there are grounds for including the amounts indicated therein in the reporting);

3. completeness (whether all appropriate amounts are included in the statements, in particular, are all assets and liabilities owned by the company);

5. classification (is there any reason to refer the amount to the account on which it is recorded);

6. accrual (whether transactions carried out shortly before the balance sheet date or immediately after it are attributed to the period in which they were posted);

7. accuracy (whether the sum of individual transactions corresponds to the data given in books and journals, whether the total amounts correspond to the data given in the general ledger);

8. disclosure (whether all categories are recorded in the financial statements and are correctly reflected in the reports and book appendices).

In the foreign literature, the main and specific objectives of the audit are highlighted by element. In the book “Auditing” - “the purpose of the audit objectives is to create some kind of structure that would help the auditor collect the right amount of relevant evidence, and then decide what kind of evidence should be collected due to the specific circumstances in which the audit is conducted. The goals remain the same across audits, but the actual data will be different depending on the circumstances. ”

Audit objectives:

1. the degree of general acceptance;

2. correct inclusion of amounts;

3. completeness;

4. ownership (for the amounts included);

5.evaluation;

6. Correctness of correspondence and reflection of amounts on accounts;

7. accrual (business transactions close to the balance sheet date should be taken into account for the relevant period);

8. arithmetic accuracy (individual balance sheet items correspond to the results in accounting registers and the general ledger);

9. disclosure (correctness of accounting of accounts and related facts of reporting data).

The task of the auditor is:

In assessing the level of accounting, qualifications of accounting personnel, the quality of information processing (especially primary documentation), the correctness and legality of making accounting records;

The need to assess not only past facts and existing this moment provisions, but also the orientation of the management of the audited organization to those future events that can affect economic activity and the final result.

Recently, another very important function has appeared in the activities of auditors - it is to assist enterprises in protecting their interests in tax authorities and arbitration courts.

Rights and obligations, responsibility of the auditor

The auditor's rights, duties and responsibilities are determined by the interim rules.

Auditors (audit firms) have the right to:

1.to independently determine the forms and methods of audit, based on the requirements of the regulatory acts of the Russian Federation, as well as the specific conditions of the contract with the economic entity and the content of the order of the inquiry bodies, the prosecutor, the investigator, the court and arbitration court;

2. check from economic entities in full the documentation on financial and economic activities, the availability of monetary amounts and securities, material assets, receive clarifications on the issues that have arisen and additional information required for the audit;

3. to receive, upon written request, the information necessary for the implementation of the audit from third parties, including with the assistance of the state bodies that commissioned the audit;

4. to involve on a contractual basis auditors working independently or in other organizations, as well as other specialists, with the exception of persons specified in the Temporary Rules, to participate in audit activities;

5. refuse to conduct an audit if the inspected economic point fails to provide the necessary documentation, as well as in case of non-provision by state bodies that have instructed the audit of the personal safety of the auditor and his family members, if necessary.

Auditors and audit firms are required to:

1. to strictly comply with the requirements of the legislation of the Russian Federation in the implementation of audit activities;

2.inform the customer immediately, government body, who instructed to conduct an audit on the impossibility of his participation in the audit of a given economic entity due to the presence of relatives, official or economic ties, lack of a license to conduct an audit of this economic entity; on the need to involve additional auditors in the audit

(specialists) in connection with a significant amount of work or any other circumstances that arose after the conclusion of a contract or receipt of an order;

3. to carry out audits in a qualified manner, provide other audit services;

4. to ensure the safety of documents received and drawn up in the course of the audit and not to disclose their content without the consent of the owner (manager) of the economic entity, with the exception of cases stipulated by the legislation of the Russian Federation.

The data obtained in the course of an audit carried out on behalf of the body of inquiry, prosecutor, investigator, court, may be made public before the entry into force of the agreement (decision) of the arbitration court only with the permission of the authorities to the extent that they recognize it as possible.

The auditor (audit firm) is obliged to provide an economic entity, upon its requests, with comprehensive information on the requirements of the legislation regarding the conduct of an audit, the rights and obligations of the parties, and after reading the opinion - on the normative acts on which its remarks and conclusions are based. If an unqualified audit is found that has led to losses for the state or for an economic entity, the auditor (firm) may be recovered from the auditor (firm) on the basis of a decision of the arbitration court on a claim filed by the authority that issued the license, the losses incurred in full, the costs of rechecking, a fine credited to the income of the republican budget of the Russian Federation in the amount of 100 times the minimum wage - from an auditor who carries out his activities independently and from 100 to 500 minimum wages - from an audit firm. In addition, the activity in which the auditor (firm) performs audit services in the prescribed manner without obtaining licenses, entails collection on the basis of the decision of the arbitration court on claims filed by the prosecutor, federal treasury bodies, state tax service and the tax police. The income received as a result of illegal activity is withdrawn in favor of the customers misled by them in the amount of the expenses incurred by them. The Ministry of Finance of the Russian Federation has the right to apply to an arbitration court with a claim to liquidate this legal entity.

Auditor Ethics

Every professional auditor, when conducting an audit or providing audit services, is required to comply with the rules of ethics of conduct. In a number of foreign countries, codes and regulations, rules of auditor ethics have been developed and are in effect. The Swedish Auditing Professional Organization has adopted following rules ethics:

1. impeccable professional conduct: the auditor must continually prove that he is trustworthy as a professional. In explanation

- in cases that are not provided for by these rules, must behave in such a way as not to discredit himself and the profession; must perform his duties correctly and exercise prudence in matters of payment;

2. independence, i.e. the auditor must perform his duties in an impartial and objective manner and therefore must always be independent when he receives an invitation (appointment) for an audit. In clarification - should not take up duties if he or his company is in such a relationship with the client, which may affect the results of the audit;

3. avoidance of activities incompatible with auditing - the auditor should not carry out those activities that are incompatible with his professional duty - to be an independent auditor. To clarify - the auditor can act within his competence or the competence of his firm;

4. Impeccable performance of professional duties - Auditors must meticulously comply with the requirements of the legislation of government agencies in order to obtain convincing confirmation of their conclusions. The auditor is obliged to consider and protect the legitimate interests of shareholders, creditors and other interested parties;

5. confidentiality - the auditor should not disclose facts or information that became known to him during the audit, unless the client gives his permission to do so, should not use this information for his own benefit;

6. maintaining good relations with colleagues in the profession: before making a critical remark to a colleague who made a mistake in work, the auditor is obliged to weigh all the circumstances in which this happened. The comment must be expressed in the correct form;

Failure to comply with this rule is discrediting the profession;

8. pay according to work: wages should be made in accordance with the knowledge and experience of the auditor, the amount of work performed.

Audit types

1. Internal and external audit

2. Audit for compliance

3. Audit of financial statements

4. Mandatory and proactive audit

5. Initial and agreed audit

6. Classification from the point of view of the auditor

7. Classification in terms of direction

Internal and external audit

In the practice of auditing, as well as in regulatory documents, distinguish between external and internal, mandatory and proactive audit.
Internal audit is an integral and important element of management control. The need for internal audit has arisen at large enterprises due to the fact that the top management is not engaged in day-to-day control of the organization and lower management structures.
Internal audit provides information about these activities and confirms the reliability of managers' reports. Internal audit is mainly needed to prevent the loss of resources and to implement the necessary changes within the enterprise.

Certain functions of internal auditors are performed by audit teams in the accounting departments of large enterprises reporting to the chief accountant or financial director, however, the functions of internal auditors are broader and include:

Control over the condition of assets and avoidance of losses;

Confirmation of the accuracy of the information used by management in making decisions;

Confirmation of the implementation of intrasystem control procedures;

Analysis of the efficiency of the internal control system and information processing;

Assessment of the quality of information issued by the management information system.

Based on the above, we can define internal audit:

Internal audit is carried out by in-house auditors - employees of the enterprise, who are subordinate to the head of the enterprise. The main task of internal audit is to constantly monitor the costs of the enterprise and develop measures to reduce them.

Business audit - a systematic analysis of the economic activities of organizations, carried out to determine goals. This type of audit is sometimes referred to as a performance or management and organization performance audit.

When auditing economic activities, objective justification and a comprehensive analysis of all types of activities are assumed. This type of audit has 3 goals:

1.evaluation of management efficiency;

2. identification of opportunities for improving economic activity;

An external audit is carried out by an audit firm (auditor) on a contractual basis with an economic entity in order to objectively assess the reliability of the state of accounting and reporting, as well as prepare recommendations for improving the financial situation of the enterprise, increasing the efficiency of its activities, research unused reserves production. Internal and external audit complement each other and at the same time have significant differences.

Table 1

Features of internal and external audit

Depending on the goals set, audits are distinguished by the content of the issues under consideration, the depth, composition and volume of information involved in the analysis - these are the Compliance Audit, Financial Statement Audit and Special Audit, Mandatory and Initiative Audit, Initial and Consensus Audit.

Compliance audit

It consists in the analysis of certain financial and economic activities of the entity. In order to determine its compliance with the prescribed conditions, rules, laws. If such conditions, internal control rules are established by the administration, then this type of audit is carried out by employees of the enterprise, who perform the functions of internal auditors.
If the conditions are established by creditors (the requirement to maintain a certain ratio between working capital and short-term liabilities), then since the fulfillment of these conditions is often reflected in the company's financial statements, this type of audit is carried out together with an audit of financial statements. An audit for compliance with the requirements established by state acts is carried out by auditors working in state bodies exercising control over the implementation of these acts or by third-party auditors entrusted with such control. The results of the audit are reported to the appropriate government agency. Based on the above, we will formulate the audit objectives for compliance:

Checking whether the activity of the enterprise complies with its Charter;

Are salaries and other employee benefits accrued correctly;

Is the production write-off of costs for the cost of goods (services) justified and does it not underestimate the profit.

Financial statement audit

Performed in order to determine the consistency of the consolidated financial statements with the established accounting rules and certain criteria. This type of audit is carried out by third-party auditors invited by the company. Reports and odds are verified.
The results of the audit of financial statements are published and sent to a wide range of users - shareholders, creditors, government regulators.

Special audit - checking specific issues in the activities of an economic entity, compliance with certain procedures, norms and rules aimed at confirming the legality, conscientiousness and efficiency of the activities of managers, the correctness of drawing up tax reporting, the use of special funds, etc.

Mandatory and proactive audit

Mandatory audit is carried out in cases established directly by legislation, or on behalf of government agencies. The scope and procedure for conducting a mandatory audit is regulated by legislative norms. Initiative (voluntary) audit is carried out by decision of an economic entity on the basis of an agreement with an auditor (firm). The nature and extent of such verification is determined by the client.

Initial and agreed audit

An initial audit is conducted by an auditor (firm) for the first time for a given client. This significantly increases the risk and labor intensity of the audit, since the auditors do not have the necessary information about the specifics of the client's activities.

An agreed (repeated) audit is carried out repeatedly or regularly.
Based on knowledge of the specifics of the client, its positive and negative sides in organizing accounting, the results of long-term cooperation with the client (consulting, assistance in organizing the internal control system, etc.).

The practice of audit firms demonstrates the advantage of a coordinated (repeated) audit. Such cooperation is convenient for auditors who have thoroughly studied the activities of the client for many years, and for the client who receives highly qualified, comprehensive assistance and assessment based on long-term cooperation. The change of the audit firm causes wariness among both information consumers and new auditors.

Classification from the perspective of the auditor

From the point of view of auditors, audit is divided into 3 types:

1.confirming (verification and confirmation accounting documents and reporting);

2. system-oriented audit (audit expertise based on the analysis of the internal control system). It has been proven that with an effective system of internal control, the probability of errors is insignificant, and the need for a systemic detailed check is eliminated; in the presence of an ineffective internal control system, the client is given recommendations for its improvement.

3. risk-based audit (concentration of audit work in areas of higher risk, which greatly facilitates auditing in areas of low risk).

Classification in terms of direction

From the point of view of the direction, the audit is divided into general (enterprises and their associations, regardless of the organizational and legal forms and types of ownership, organization and institution); banking, audit of insurance companies, audit of stock exchanges, audit of off-budget funds, audit of investment institutions, etc. Operational audit is also distinguished in the West.

In the book "Audit" by Ahrens and Lobbek, the following definition is given:
"Operational audit - checking the methods of functioning of the economic system in order to assess productivity and efficiency." Upon completion of this audit, recommendations for improving operations are issued to the manager.
Because operational effectiveness can be measured in many different areas, it is impossible to characterize a typical operational audit. In operational audit, audits are not limited to accounting, they can include an assessment of the organizational structure, computer operations, production methods, marketing, and any other area in which the auditor is qualified.

Types of audit services

1. Audit of the audit of financial and economic activities

2. Analysis of financial statements and business results.

Assessment of solvency and financial condition

3. Consulting on taxation, tax planning

4. Consulting on legal issues

5. Advising on the legal responsibility of data processing

Audit of audit of financial and economic activities

Audit of the audit of financial and economic activities - audit activity aimed at establishing the reliability of the accounting and financial statements of economic entities and the compliance of their financial and business operations with regulations.

In this case, the objectives of the audit are:

Assessment of the state of accounting;

Verification of the reliability of indicators of the annual accounting statements;

Analysis of financial and economic activities and, on its basis, preparation of recommendations for strengthening the client's financial condition, cost optimization, selection of audit procedures.

In the process of audit work, well-known methods of conducting an audit are applied:

Actual check;

Confirmation;

Documentation check;

Formal verification;

Logical check;

Arithmetic check;

Special check;

Observation;

Analytical tests;

Scanning.

Actual verification means verification of the actual availability of material values and funds by the method of inspection and miscalculation; reconciliation of the received data with credentials.

Confirmation - receiving a written response from the client or third parties to confirm the accuracy of the information. Completeness of posting money to the cashier received from individuals and legal entities.

Documentation verification - verification of documents and records of transactions in accounting registers. In the practice of audit work, when conducting documentary checks, well-known methods of formal, logical and arithmetic verification are used.

A formal check reveals the completeness and correctness of filling in all the requisites that are mandatory on the primary documents. At the same time, special attention is paid to: the date of filling out the document; presence of unspecified corrections, erasures, additions in the text and numbers; the authenticity of the signatures of officials and financially responsible persons (all monetary documents cannot be corrected and erased).

Logical verification (verification of documents in essence). This check allows you to find out whether this or that operation took place and in the specified volume; the legality and expediency of the business transaction; the correctness of its assignment to the relevant accounts and inclusion in the relevant items of expenses and income. A logical check allows you to identify postscripts in the amount of work performed, overstating the cost, etc.

Arithmetic check consists in checking the correctness of the calculations of the amounts in the documents. During the check, errors are revealed when summing a number of numbers in the process of compiling analytical and systematic accounting registers in indicative accounting (financial statements). Arithmetic and logical checks often complement each other.

A special check is used when it becomes necessary to involve a specialist with a narrow specialization in the check, which makes it possible to check the correctness of the assessment of intellectual property when it acts as a contribution of the founders to the authorized capital, or when it becomes necessary to check the completeness of all technological operations in the production of a particular type products or products.

Survey - obtaining oral or written information from a client.

Observation - receiving general view about the client's capabilities based on visual inspection (observation);

Analytical tests - a method of comparing indices, coefficients.

Scanning - continuous, item-by-item viewing of information
(accounting primary documents) in order to find something atypical.

In auditing, there are also methods of organizational checks (continuous, selective, comprehensive, targeted, expert assessment).

With a complete check, all monetary documents related to the accounting of cash and banking operations, securities and settlements with accountable persons are carefully checked.

In a spot check, documents are checked at the choice of the verifier.
At the same time, if in the course of a random check of individual issues serious shortcomings and irregularities in the organization and maintenance of accounting are established, leading to a corrected calculation of costs, financial results and to an underestimation of cash payments, then such operations are recommended to be checked by a continuous method. When conducting a sample, an important place is the correct choice of those documents, records that will be checked. The choice of the inspection procedure depends on the circumstances and is decided at the inspection site.

In modern practice, complex audits are used.
Their main tasks are a comprehensive documentary audit of enterprises and financial and economic activities of organizations, the state of their economy, and an in-depth analysis of the financial condition.

Targeted inspections are carried out on a certain range of issues at the request of the heads of enterprises or on behalf of the prosecutor's office, investigation, tax and other state bodies.

An expert assessment of the accounting documents of organizations is carried out by an auditor on behalf of state bodies if they have criminal, civil cases, or cases considered in an arbitration court.

Analysis of financial statements and business results.

Assessment of solvency and financial condition

When conducting an audit, the auditor must check not only the state of accounting, the legality of financial and business transactions in the audited organization, but also qualitatively analyze the indicators of its financial activities. The purpose of the analysis is to assess the financial results and financial condition of the organization in the analyzed reporting period and determine its potential in the future. The analysis is carried out according to the indicators of financial statements and indicators of the balance sheet and other forms of reporting are used, as well as data from other accounting registers: general ledger, order journals, statements and other forms. Financial condition the enterprise includes an analysis of profitability and profitability, financial stability, solvency and creditworthiness, the use of capital. Financially stable is an economic entity that, due to the availability of its own funds, can provide coverage of funds invested in the assets of enterprises, preventing unjustified receivables and payables, and pays off its obligations to partners in a timely manner.

Consulting on taxation, tax planning

Auditors (firms), along with conducting audits, can provide services to economic entities, entrepreneurs and individuals in the form of consulting on a wide range of issues. When conducting a consultation in order to achieve the greatest total effect, audit firms should combine and use the skills and abilities of generalists and narrow specialists, their deep knowledge in certain areas. At the same time, the auditor conducting the consultation must have the skills necessary to solve problems and share experience, identify problems, find the necessary information, analyze and synthesize, develop proposals to improve financial and economic work, communicate with people, plan changes, help clients to accumulate experience.

The consulting process is a joint activity of the consultant and the client with the aim of solving a specific problem and making the desired changes in the client organization.

In the economic literature, you can find many different ways of implementing the counseling process (from 3 to 10 phases). Consider the simplest of these, a 5-phase model: preparation, diagnosis, action planning, implementation, and completion.

table 2

Phases of the counseling process

In a specific situation in this model, some phases can be shifted, the implementation can begin before the end of the planning of actions.
The consultant has at his disposal a variety of interventions that promote change in individuals, groups, organizations.

The most commonly used methods are:

Training and professional development;

Learning by doing;

Planning to improve the efficiency of the enterprise;

Conducting meetings;

A qualified consultant is flexible in the use of intervention methods to support change, and multiple methods are used simultaneously, if appropriate.

In the process of consulting, a progressive approach should be observed: competence, use of knowledge and experience in the interests of the client, impartiality and objectivity in work, confidentiality, compliance with the requirements of the ethical aspect.

The practice of consulting shows that the largest number of questions coming to auditors are related to tax legislation, and especially before the client starts charging certain taxes. Consulting on tax planning issues, the auditor must first study well the structure and features of the economic activities of the client who consulted. And only after such a study on the basis of the current regulatory documents on taxation, help in calculating tax payments at the planning stage.

Legal advice

Such services can only be provided by audit firms that have legal consultants or legal structural units on their staff.
The practice of their work shows that the largest number of consultations is associated with the relationship of enterprises with tax authorities; with legal protection of the interests of enterprises against the actions of tax authorities after they have carried out an audit.

Other types of legal advice are advising on the legal application of certain provisions of the Civil Code of the Russian Federation, Labor Code of the Russian Federation and other legal acts. In order to provide consulting services on legal legal documents, audit firms must have highly qualified specialists - lawyers who perfectly know and skillfully use in practice the peculiarities of the application of regulatory documents.

Legal advice on the legal responsibility of data processing

The fastest growing area of consulting services is package development assistance in the selection and implementation of modern PCs.
Consultants will help implement new systems and develop training programs for employees, develop and implement policies to encourage innovation, and use technology to reduce labor intensity.

Consultants usually indicate which brands of PCs are the most reliable and compatible with the generation of previous models, can recommend inexpensive and proven programs, can carry out training of personnel, for which they select the necessary training and exercises. Although audit firms under the current legislation are practically not responsible (except, if such is stipulated by the concluded bilateral agreement), incorrect consulting of the client and the occurrence of any liability as a result of making a mistake negatively affects the image of the audit firm.

Technological basis of audit

1. The initial stage of the audit

2. Planning the audit

3. Audit evidence

4. The concept of fraud and error

5. The procedure for preparing and drawing up a part of the auditor's report. Types of the auditor's report

Initial stage of the audit

The audit agreement legally reflects and fixes the interests of the parties. However, there are significant differences from contracts used in business. There is a 3rd party interest in it
- information user - a potential consumer of information about the financial and economic activities of the audited economic entity.
The auditor is responsible not only to the client, but also to the interested users in case of damage to them as a result of poor-quality inspection. When drafting a contract, the auditor must strive to correctly formulate the client's needs and take into account his own interests. The quality of the audit, the conflict-free relationship between the auditor and the client largely depends on the clarity of drawing up the contract for the audit.

Given the specifics of audit in Russia, the audit agreement should reflect the auditor's ability to refuse to issue an audit report or determine the timeframe for the client to submit the documents required for verification, since there are often cases when clients have invited an auditor, and the accounting report is not yet ready for verification, that makes the job very difficult. It is advisable for the auditor to provide in the contract a clause obliging the client to assist the auditor during the audit, also to allocate employees to assist with the inventory, to provide transport and hotels to the auditor if he needs to go on a business trip.

Audit planning

Audit program. Assessment of the client's internal control system as a criterion for scheduling an audit.

Planning is a process that allows you to perform an audit in the most efficient way and at the same time reduce the risk of undetected existing errors in the client's financial statements.

The auditor must plan his activities carefully for three main reasons: it allows the auditor to obtain sufficient evidence of the client's state of affairs, helps to keep the costs of the audit within reasonable limits, and avoids misunderstandings with the client.

Audit planning tasks:

Establishment of stages and terms of work with a client;

Determination of costs;

Rational use of a specialist's working time;

Preparation of an adequate working group of specialists to work with the client;

Determination of the sections of the audit that are most important for the formation of the auditor's opinion;

Distribution of audit sections, duties and responsibilities among specialists;

Creation of conditions for the implementation of consistent control over the audit;

Ensuring interaction with the accounting department of an audit firm on financial planning issues.

Audit planning consists of 6 main stages:

1. Pre-planning.

2. Collection of general information.

3. Collecting information about the legal obligations of the client.

4. Assessment of the materiality of the audit risk.

5. Familiarization with the on-farm control system and assessment of control risk.

6. Development of an overall audit plan and audit program.

Pre-planning is carried out during the initial phase of the audit work; includes deciding whether to start or continue an audit for the client, establishing the reasons why the client justifies his order for the audit, recruiting personnel to perform audit duties (staffing), concluding an agreement with the client, drawing up a written commitment to the client.

Gathering general information - general information about the company, necessary in order to make a reasonable conclusion about the reliability of the reporting in the future. The main sources of information about the company are:

Discussion with management employees, meetings with senior management and executive personnel not related to accounting, which will allow you to get information "first-hand";

Visiting and inspecting the main areas, production units, warehouses, which provide an opportunity to make sure of the presence and preservation of assets, to get an idea of the production conditions;

External and internal reports and publications. External: business press, newspapers, industry analysts, competitive comparisons and industry averages, government tax laws. Internal: financial reports, the state of the company's finances, minutes, meetings of the board of directors, board, shareholders, internal reports of auditors and consultants.

You should familiarize yourself with the history of the development of the enterprise, the types of activities, i.e. it is important to have an understanding of the client's industry. It is important to obtain information about the company's policy in various areas (credit policy, accounting policy), to find out the degree of responsibility and rights of managers at various levels, to determine the circle of persons who have the right to change the company's policy. On the basis of the information received, the auditor must decide whether it is necessary to involve individual specialists for consultations.
(lawyers, taxes).

Collecting information about the legal obligations of the client. From the very beginning of work, the auditor should familiarize himself with the client's legal documents: the Charter, registration documents, minutes of meetings of the board of directors and shareholders meetings, which may contain information on the distribution of profits, announcement of dividends, payment of remuneration, signing contracts and agreements, decision to participate in other enterprises, on the acquisition of property, the provision of long-term loans.

Assessment of the materiality of the audit risk. Materiality and risk are very important to consider when planning the audit. Under the materiality
(materiality) in the audit is understood as the maximum permissible level of possible distortion of an individual item or financial indicator in the statements, financial reserves in general, or the maximum permissible amount of error in the amount that can be shown in the publication of financial statements and considered as insignificant, i.e. does not mislead users. To assess materiality, the auditor must have an idea of the possible users of information and the possible decisions that can be taken on its basis in order to determine the relationship between the incorrectness of the report and the adoption of these decisions. The auditor's judgment on the degree of materiality is quite subjective and requires from him significant professionalism, work experience, knowledge of the specifics of the client's activities, the characteristics of the economic and social environment. At the beginning of the audit, the auditor must decide (based on internal firm standards) what the total amount of error can be considered material or material. There are a number of factors that affect the predetermined materiality level:

Enterprise size;

Net profit before tax;

Current asset value;

Total asset value;

Amount of current liabilities;

The amount of capital.

The materiality level is established from these indicators.

The audit risk is as follows: the auditor comes to the conclusion that the financial statements have been prepared correctly, and on this basis expresses an unqualified opinion in the auditor's report, but in reality the financial statements contain significant errors.

Audit risk is an assessment of the ineffectiveness of the audit based on the risk assessment of the client's accounting system, the ineffectiveness of the client's internal control system and the failure to identify client errors by the auditor.

There are 2 types of basic methods for assessing audit risk:

1. Estimated (intuitive) - the most widely used today by Russian auditors (firms) is that auditors, based on their own experience and knowledge of the client, determine the audit risk on the basis of reporting as a whole or individual groups, operations, as high, probable and unlikely to use this score in audit planning (use high, low, medium).

2. Quantitative - involves the quantitative calculation of numerous models of audit risk.

Audit risk = Net risk (Control risk (Procedural risk

Audit risk is the risk of the ineffectiveness of the audit and reflects the auditor's judgment about the acceptability of the likelihood of unidentified material errors in the financial statements after the audit.

Net risk is the risk associated with the specifics of the company, i.e. the likelihood that financial statements will contain errors in excess of the allowable value before considering the effectiveness of the internal control system.

Control risk is the risk of ineffectiveness of the internal control system, i.e. the probability of missing errors exceeding the permissible value by the internal control system.

Procedural risk - the risk of ineffectiveness of testing procedures - the acceptable for the auditor the likelihood of not detecting errors in the testing process exceeding the allowable value.

This model is the basis for audit planning, therefore, its use in assessing audit reserves is limited. Once all risks have been identified, an appropriate audit plan has been established, the components of the net risk and control risk plan are not subject to change based on the audit evidence obtained.

Procedural risk =;

Familiarization with the on-farm control system and assessment of control risk. From an auditor's point of view, the assessment of the effectiveness of the internal control system (ICS) is to assess the strengths and weaknesses of an economic entity. ICS can be considered effective if:

It effectively warns about the occurrence of inaccurate information;

Effectively detects inaccuracies within a limited time after the inaccurate information has arisen.

An audit assessment of the effectiveness of the ICS is necessary to assess and plan the scope of the audit. If the ICS is assessed by the auditor as effective, he has the opportunity to reduce the scope of the audit, and in some cases even not to conduct it at all.

The outcome of the planning process is an audit program. It is a list of actions with deadlines and executors.
The program should cover the following stages:

1. Drawing up an overview of the client's activities, which includes a description of systematic processes and related workflows; accounting policy; organizational structure;

2. Development of an audit strategy related to the specifics of the client, and focusing the efforts of auditors on the sections of the financial statements;

3. Conducting an audit, i.e. the implementation of selected audit procedures by those auditors who have sufficient experience and qualifications for the planned procedures;

4. Formation of an audit opinion based on the collected evidence.

Audit evidence

All information prepared and collected by the auditor before the start, during the audit process, and as a result, is audit information.
Some of this information is in the form of documents or copies of them that can be considered audit evidence.

Audit evidence is the information gathered by the auditor during the audit and the conclusions that form the basis of the auditor's report.

Audit evidence must be relevant and sufficient.
The relevance of evidence is its value for solving a problem, and the sufficiency in each case is determined based on the assessment of the ICS and the audit risk. In any case, the auditor must be sure that he has collected a sufficient amount of evidence (documents) of the required quality to draw up an objective and reasonable opinion.

Audit evidence can be internal (information from the client), external (information from third parties and organizations) and mixed.
(information from the client and confirmed external sources). The most valuable and reliable are external evidence, mixed, internal.

The quality of audit evidence depends on the source. Audit evidence can be obtained from documentary sources, in the course of oral interviews with the client's personnel, third parties and with direct observation by the auditor of accounting and other operations at the enterprise. In terms of reliability and reliability, the most valuable evidence is obtained by the auditor himself. Documentary evidence and written submissions from the client are preferable to evidence obtained through oral interviews. If the auditor is not able to collect a sufficient amount of evidence, he should reflect this fact in the report and opinion. The relationship between the cost of obtaining audit evidence and its significance should be reasonable. If, also, the client's ICS is sufficiently reliable, the auditor can abandon the expensive continuous inventory of assets and conduct it selectively. But the complexity and high cost of audit procedures should not impede their implementation, if the auditor considers them necessary.

Fraud and error concept

Fraud means deliberate incorrect reflection and presentation of accounting and reporting data by one or more persons from the management or employees of the enterprise, including the manipulation of accounts and falsification of primary documents, reporting registers, deliberate change in accounting records, distortion of the meaning of business transactions and violation of the rules determined by law and the accounting policy of the enterprise.

Error - an unintentional distortion of financial information as a result of arithmetic and logical errors in accounting records and groupings, an oversight in the completeness of accounting, or misconception facts of economic activity, availability and condition of property and settlements.

The auditor is responsible for identifying fraud and unnoticed or unresolved errors. The auditor's report must ensure that there are no fraud and material errors in the financial statements of the enterprise, or that they have been fully identified, or that the errors have been corrected. In the event that fraud or error exists, the auditor has the right to reconsider the issue of his obligations to the client. The main types of errors found during the audit can be grouped as follows:

1. Errors in accounting, lack of accounting and random errors

(arithmetic miscalculations, errors when filling out reporting forms and accidental incorrect postings);

2. Repetitive errors, errors associated with ignorance of accounting rules, related to ignorance of tax legislation issues and ignorance of the legal framework of financial and economic activities.

If the auditor has come to the conclusion that deception (error) may exist, he needs to assess their potential impact on financial information, develop and apply additional procedures.

The procedure for preparing and drawing up a part of the auditor's report. Types of the auditor's report

The result of the audit is an auditor's report (АЗ) - a document that has legal significance for all legal entities and individuals, authorities and management and judiciary... The procedure for the preparation, preparation of the part and content of the auditor's report is determined
Interim rules of auditing in the Russian Federation, approved by the Decree
President of the Russian Federation of 22.11.93, No. 2263.

AZ (report) should consist of three parts: introductory, analytical and final. The introductory part indicates general information about the auditor; in the analytical - information about the economic entity, the results of the audit of the financial statements, the facts revealed during the audit of significant violations of the established procedure for maintaining accounting and drawing up financial statements that affect its reliability, violations of the legislation of the Russian Federation when performing economic and financial transactions that caused (may cause damage to the interests of the owners of the economic entity, the state and third parties. The final part contains a record confirming the reliability of the accounting (financial) statements of an economic entity.

AZ is addressed to the customer with the date of preparation, signed by the head of the auditor of the audit firm and the auditor conducting the audit, certified by the seal of the audit firm. Each A3 page is signed by the auditor conducting the inspection and certified by his personal seal. If the economic entity during the audit did not eliminate significant violations in accounting, preparation of relevant reporting and compliance with the legislation of the Russian Federation, a record is made in the final part of AZ that it is impossible to confirm the reliability of the financial statements.

On February 9, 1996, the Commission for Auditing Activities under the President of the Russian Federation approved Minutes No. 1 and recommended for use in auditing "The procedure for drawing up AZ on financial statements." According to this document AZ:

Positive - the auditor makes a note that the financial statements, in his opinion, are reliable in all material respects;

Conditionally positive (with reservations) - the auditor gives the facts of his disagreement with the management of the economic entity in relation to the financial statements, describes the limitations in work, expresses his existing uncertainty about the reliability of certain reporting items and makes a note that in all other material aspects the financial statements are accurate;

Negative - A negative opinion is drawn up in the event that disagreements or restrictions on work become so significant that they do not allow the auditor to conclude about the reliability of the financial statements.

The auditor has the right to refuse to express an opinion in the event of material uncertainty about the reliability of the financial statements, provided that the auditor has performed all audit procedures possible under these conditions. In accordance with the Provisional Rules, an economic entity is obliged to provide interested parties only the final part
AZ.

Checking cash transactions

2. Methods for checking cash transactions on bank accounts

3. The main stages of checking cash transactions

4. The main stages of verification of banking transactions

5. Checking the legality of cash transactions

Purpose of verification and sources of information

An audit of cash transactions (MC) includes an audit of cash, banking and currency transactions... Operations associated with the movement of the DS should be checked by a continuous method. The main purpose of the check is the legality, reliability and economic feasibility of the transactions performed on the accounts reflecting the movement of the DS.

When auditing cash transactions, the purpose of the audit is to verify compliance with:

Storage conditions, preservation of the amount of money and other valuables at the cash desk and upon delivery from the bank;

Establishing the procedure for storing check books, extracts from checks and receiving money on them;

Rules for documentary registration of operations for the receipt and withdrawal of money from the cash desk;

Limits for storing cash at the cash desk and issuing money against a report for travel, business expenses and other needs;

Timeliness and completeness of the posting of cash and proceeds received from banks, legal entities and individuals;

Cash records, discipline in the production of cash transactions;

Accounting for cash transactions and maintaining a cash book and book analytical accounting for other valuables stored in the cash register;

The procedure for calculating cash with legal entities for shipped products and other material values. Cash limit (10,000 with businesses and organizations, 50,000 with trade organizations);

Purpose of cash received on checks from banks (intended use);

Completeness of refunding excess cash balances to the bank at the end of the working day;

The presence of cases of issuing cash to unauthorized persons without issuing powers of attorney.

Sources of information when conducting cash transactions:

1.primary documents for registration of acceptance and issuance of cash

(cash expenditure FKO1, credit notes FKO2);

2. journal of registration of expenditure and incoming cash documents;

3. primary source documents to cash documents (advance report, travel certificate, checks, etc.);

4. accounting registers for accounts 50, 51, 52, 56, other accounts; correspondence from account 50; 006 "Forms of strict reporting".

When auditing banking transactions, the purpose of the audit is:

Timeliness, legality, reliability and expediency of the operations carried out on the receipt and write-off of fixed assets (OS) reflected in the bank accounts;

Checking the number of open and participating in the settlement of accounts, the legality of transactions for each open account;

Justification of receipt and use of loans and borrowings and the timeliness of their repayment;

Checking the status of settlement and payment discipline under concluded contracts.

Sources of information:

Bank statements on the relevant accounts with the attachment of documents to them, which served as the basis for the commission of income and expense transactions;

Registers for accounts 51 and 55;

Balances and other documents and accounting registers.

When auditing foreign exchange transactions, the purpose of the check is to revise the correctness and legality of opening foreign currency accounts, completeness and timeliness of crediting foreign currency earnings and other issues by analogy with checking transactions on a current account.

The sources of information are the same as when checking the current account.

Methods for checking cash transactions on bank accounts

Checking cash transactions on bank accounts requires the auditor to have a heightened sense of responsibility. only inattention can lead in the future to undesirable consequences for the auditor and the auditee. All or any of the auditing methods may be used in the audit of cash transactions and bank account transactions. Highly essential should be given to the verification of primary documents that served as the basis for making records of business transactions in accounting registers. Wherein Special attention it is necessary to pay for the registration of primary documents.

The main stages of checking cash transactions

1. Inventory of the actual cash balance at the cash desk and its compliance with the accounting data on the cash book.

2. Checking the receipt and expense orders of the completeness and timeliness of posting and writing off cash in the cash book.

3. Checking the availability of supporting documents for the receipt and expense orders on the basis of which they are issued (tickets, invoices, checks, the presence of an order - in the first stage).

4. Verification of the legality of completed business transactions.

5. Verification of the actual availability of other valuables stored in the cash desk, which, in accordance with the current regulatory documents, must be stored in the cash desk (securities, forms of strict reporting, precious gifts to the company).

6. Checking the totals in the cash book and other accounting registers.

7. Ensuring the safety of funds during their receipt, delivery from the bank (enterprise), storage and issuance at the enterprise in accordance with the requirements of the recommendations of the Ministry of Internal Affairs of the Russian Federation to ensure the safety of funds during their storage and transportation.

8. Checking the existence of a written agreement on full liability with the cashier.

The sequence of checking cash transactions may be different at the discretion of the auditor.

The main stages of verification of banking transactions

1. Checking the actual quantitative availability of settlement, current, currency accounts opened in the organization; completeness and the need to open them, in which banks they are open.

2. Whether all the amounts given in the bank statements are confirmed by the presence of correctly executed supporting documents for the amounts indicated in them.

3. Checking the timely crediting and debiting of funds on the organization's accounts with the bank.

If, during the audit, the auditor discovers the absence of a source bank voucher, or a photocopy is present as a voucher that is not certified by the seal of the discussing bank (not xerox), such an operation cannot be recognized as legal. The auditor is obliged to demand the submission of a document drawn up in the prescribed manner. When checking the payment of invoices for the purchase of the MC, it is necessary to make sure that the receipt and posting of the paid goods and materials, or the services received, is complete. There are cases of illegal transactions when, under various pretexts, money is transferred, which is subsequently written off at the cost of production, or from other sources, but in reality these amounts are sent to the acquisition of various types of property, which is subsequently appropriated by certain officials. You should carefully check all reversal entries for bank accounts. There are cases when an accountant participating in the theft of funds transfers the stolen amounts to the appropriate accounts, and then, by reversing, makes new entries in other accounting registers in order to disguise the true state of affairs.

Checking the legality of cash transactions

When checking cash transactions, the auditor must establish how the procedure for conducting cash transactions, cash discipline, the legality and expediency of transactions with cash are observed.
It is necessary to check the correctness of the execution of the documents on which the operations related to the receipt and withdrawal of cash were carried out.
Make sure that all cash receipts and debit orders, pay slips and other documents are filled out clearly, without erasures and corrections, and all orders and attachments to them are canceled with the stamp "RECEIVED" or "PAID" indicating the date of the transaction and signatures of the cashier. The absence of the “PAID” stamp in the cash outflow vouchers and statements leads, in some cases, to their repeated use (writing off to the expense of the cash book).

Thoroughly checked:

In payrolls - the authenticity of the signatures of the recipients of the money, tk. there are cases when 1 recipient signs for several people in the statement;

In the register of incoming and outgoing cash orders - the correspondence of dates, serial numbering and amounts with similar indicators in expense, incoming cash orders and the cash book (the journal is kept by an accountant);

In the cash outflow order - the correctness of the records of the amounts received

(in words) and the very signature of the recipient of the money, as well as filling in the passport data of the recipient;

In all documents - the presence of signatures of managers of funds, paying attention to the fact that the manager signs personally

(all settlement and cash documents - payroll and settlement and cash orders), the only exceptions are periods when the manager is temporarily absent from the organization and transfers his functions to another person (by order);

In the cash book - the design of its maintenance, the correctness of the corrections made, special attention is paid to the correctness of the calculation of the total turnovers and the withdrawal of cash balances at the end of the day.

When checking the completeness of the posting of cash received on checks from banks, it is necessary to check the presence of all the backs of the book's checks. When checking cash discipline, it is necessary to establish:

1.use of cash received from the bank for its intended purpose;

2. compliance of cash balances with the limit set by the bank;

3. the timeliness and completeness of delivery to the bank of unused cash received for the payment of wages, bonuses, benefits and other receipts;

4. compliance with the established rules for settlements in cash;

5. whether cash was issued or received on loan.

Particular attention should be paid to checking the payments of the deposited amounts of wages not received on time. An important element of checking cash transactions is checking the correctness of correspondent accounts indicated in documents, especially in expense accounts.

Checking accounting of settlement and credit transactions

1. Objectives of verification and sources of information

2. Methods for checking the settlement relationships of an economic entity, the effectiveness of its work with receivables and payables

3. Verification of long-term and short-term loans

4. Methods for checking the credit relationship of an economic entity

Purpose of verification and sources of information

In their economic activities, all organizations carry out settlements with buyers and suppliers, customers and contractors, other debtors and creditors. Hence, the purpose of the audit is to check the legality and timeliness of their repayment, the correctness of accounting, calculations and measures taken by the organization's management to eliminate the causes of unclaimed debt.

Sources of information for checking the accounting of settlement and credit transactions are:

Balance sheet;

Turnover statements;

Analytical accounting cards;

Inventory data;

Source documents;

Journal-order No. 6, 8, 9, 11;

Vedomosti No. 5, 7, 8, 9, 16.

An audit of settlements should include verification of settlements for the following accounts:

60 - with suppliers and contractors;

61 - on advances issued;

62 - with buyers and customers;

63 - for claims;

64 - on advances received;

71 - settlements with accountable persons;

73 - with personnel for other operations;

75 - with founders;

76 - with different debtors and creditors and other accounts serving settlement operations.

Methods for checking the settlement relationships of an economic entity, the effectiveness of its work with receivables and payables

The methods of checking settlement relationships include a complete and selective inventory of accounts.

Depending on the number of organizations participating in the calculations, the auditor himself determines which of the above methods to apply to him. In the practice of conducting audits, the sampling method prevails, and if the accounting of calculations is in a state of disrepair - the continuous method. Before starting the check, it is necessary to find out whether the balances of the debt, the reasons for the formation of the debt, the prescription of its formation, through whose fault it was admitted, the reality of receiving the debt are correctly reflected in the corresponding items of the balance; those. whether there are acts of reconciliation of settlements or letters of guarantee in which debtors acknowledge their debt and whether the statute of limitations has not been missed, what measures were taken by management to repay or collect debt, whether the requirement of clause 17 of the "Accounting and Reporting Regulations in the Russian Federation" on conducting an inventory of settlements has been fulfilled before drawing up the annual report. An inventory of settlements with buyers, suppliers, accountable persons, workers and employees, depositors and other debtors and creditors, as well as with banks for loans, consists in identifying balances according to the relevant documents and thoroughly checking the validity of the amounts on the accounts. The auditor and members of the inventory commission establish the timing of the occurrence of debt on the accounts of debtors and creditors, its reality and the persons guilty of missing the limitation period.

During the inventory process, you must also establish:

1. identity of settlements with banks, divisions of the enterprise, which are on separate balance sheets, with tax authorities;

2. the correctness and validity of the amounts of deficiencies and theft debts on the balance sheets, and the measures taken to collect these debts;

3. the correctness and validity of the amounts of accounts receivable and payable and accounts payable on the balance sheet, as well as whether claims have been filed for compulsory collection of accounts receivable.

The results of the inventory of calculations are formalized in an act. The analysis of the materials of the inventory of calculations available at the audited enterprise or the conduct of the inventory by the auditor himself makes it possible to focus on a more thorough check of the calculations for which discrepancies, discrepancies, and ambiguities have been established.

When checking debts to suppliers and other creditors, it is necessary to find out whether the amounts for which the limitation period has expired are not on the balance sheet, and it is especially necessary to carefully compare the facts when due to unclaimed accounts payable the receivables are paid off, and the values received on account of the receivables are assigned. Controversial debts are subject to particular scrutiny.

Debt of enterprises and organizations is considered to be controversial if the document on its recovery is submitted to the civil court for individuals or the arbitration court for legal entities. At the same time, debts of citizens for shortages, waste and embezzlement do not belong to the debts in dispute, even if they are transferred to the court for collection. The auditor must check how reasonably and legally the receivables have been written off for losses, establish whether the persons who caused these losses have been brought to responsibility, whether the transactions to write off receivables have been correctly reflected in the accounting records.

There are cases when clearly unfounded claims are transferred to a civil arbitration court for enforcement in order to use the refusal to satisfy it to write off unreal receivables at a loss.

Unrealistic receivables - any bad receivables for which there is a decision of a civil or arbitration court to dismiss a claim - is unrealistic.

When checking, it is necessary to find out the reasons for the refusal of the claim: whether the limitation period was missed, the claim was unfounded, the paperwork was not properly executed, etc.

Data on unrecovered overdue receivables and violations of settlement discipline must be summarized in the statement of the following form:

Table 3

Statement for summarizing overdue DZ

The analysis of settlements with depositors also requires great attention; first of all, it is necessary to establish whether the wages and scholarships not received in due time, as well as the amounts withheld from wages under writ of execution and other documents, are timely attributed to the deposit amounts. The payment of the deposited amounts to workers and employees should be carefully checked. When checking settlements with accountable persons, the auditor must conduct a complete check advance reports and the documents attached to them, comparing the entries in the cumulative statements with the data of the advance reports approved by the loan managers. First of all, the auditor finds out to whom the advances were issued; the auditor is obliged to carefully check the accuracy of the documents attached to the advance reports and the legality of payment for them. If necessary, counter checks are carried out.

When checking transactions on accountable amounts, you should also find out:

1. Whether the director of the enterprise has determined the circle of persons who are entitled to receive money on account of the report;

2. whether advances are issued to accountable persons in excess of the established amounts;

3. Do not receive money on account of persons who have not reported on previously received amounts;

4. is it not allowed to pay through accountable persons of expenses that could be paid directly from the cash desk of the enterprise;

5.is available on advance reports a note of the director of the enterprise on the expediency of the expenses incurred;

6. Whether expenses from the reported amounts are reflected in the accounting in a timely manner.

Checking long-term and short-term loans

In market conditions, many organizations in their activities use borrowed funds bank, other credit institutions and enterprises.

Article 897 of the Civil Code of the Russian Federation states that under the loan agreement, one party - the lender transfers the ownership of the other party - the borrower, money or other things defined by generic characteristics, and the borrower undertakes to return the same amount of money to the lender - the loan amount or an equal number of other things received by him of the same kind and quality. Thus, when checking, the auditor should pay attention to the form in which the loan was taken - in the form of money or a thing.

In the practice of conducting inspections, there are cases when, under the terms of an agreement, especially a long-term one, an organization receives money, and then, after a certain time, returns the loan with property or securities without changing the terms of the agreement, which is not allowed. Sometimes, considering the documents related to the return of the loan, the auditors make mistakes in terms of paying the lender %% for the use of the loan, although there are no such conditions in the agreement, they believe that if the agreement does not stipulate the payment of %% to the lender, then they should not be paid. At the same time, article 809 of the Civil Code of the Russian Federation states that if there are no conditions on the amount of %% in the agreement, then their size is determined by the bank's %% rate existing at the location of the lender on the day the borrower pays the amount of the debt or its corresponding part. It must also be remembered that %% on a loan are not charged only in cases when this is directly stipulated in the contract, i.e. interest-free loan, or the borrower is transferred not money, but other things as a loan.

The auditor is obliged to make sure that:

Drawing up and concluding a loan agreement;

Organizations of accounting for these transactions on accounts: 94

"Short-term loans", 95 "Long-term loans", with special attention paid to the organization of analytical accounting of these transactions by the lender and maturity;

Reflection in the accounting of the repayment of a loan by selling securities at prices exceeding their value, reflection in the accounting of the %% accepted for payment for the use of the loan;

Reflection in the accounting of exchange rate differences on loans provided in foreign currency;

Reflection in the accounting of loans by directions of their use;

Accounting for a loan received against a promissory note;

Timeliness of loan repayment.

When checking these questions, the indicators reflected in the journal-order No. 4 are used.

Methods for checking the credit relationship of an economic entity

Unlike a loan agreement, a loan agreement in accordance with the Civil Code of the Russian Federation can be concluded by an enterprise only with a bank or other creditor organization. The same rules apply to relations under a loan agreement as under a loan agreement. The methodology for auditing such transactions is basically the same as for auditing loan transactions.
The rules for issuing loans are developed by credit organizations, and the issuance of loans is carried out on the basis of a concluded bilateral loan agreement. Unlike loans, verification of operations for obtaining and using loans is carried out on accounts 90 "Short-term loans from banks" and 92. The auditor needs to check:

Confirmation of the intended use of the loan;

Timeliness and completeness of repayment;

The correctness and legality of the attribution of accrued and paid %% to the corresponding expense accounts or sources of their coverage;

Reliability of balances not returned loans;

Securing a loan or the existence of guarantees presented in a timely manner for unpaid loan amounts;

The objectivity of the reasons for the violation of the terms of the loan repayment.

Checking the issues of obtaining and using loans, the auditor must evaluate the effectiveness of the invested funds for the activities for which they were intended; which economic effect received the enterprise as a whole from their use, or vice versa, calculate the losses that the enterprise may incur in the event of improper use of the loan or untimely return to the creditor, as well as analyze the sources of coverage for the outstanding amounts of creditors and report them to the management of the audited organization.

Verification of transactions with fixed assets and intangible assets

1. Objectives of verification and sources of information

2. Checking operations on the movement of the OS

3. Checking the correctness of documentary registration of capitalization of fixed assets and their write-off

4. Checking the correctness of the assessment and revaluation of fixed assets, accrual of depreciation charges, capital and current repairs of fixed assets

5. Verification of transactions for the acquisition and movement of intangible assets

Purpose of verification and sources of information

The main objectives of the audit of fixed assets (OS) and intangible assets(IA) is a check of legality and correctness:

Operations of receipt, transfer and disposal of fixed assets and intangible assets;

Determination of the initial cost of fixed assets and intangible assets;

Their documentary registration;

Timely accrual, inclusion in production costs and the use of depreciation charges from fixed assets and intangible assets;

Determination and use of the residual depreciation of the OS;

Reflection on the accounts of accounting of transactions on the movement of fixed assets and

It also checks the availability of unused equipment, its condition, storage conditions and measures taken to sell it or transfer it to other organizations;

Safety of fixed assets and intangible assets, the presence of surplus fixed assets and intangible assets;

Sources of information:

1.balance; magazine-order No. 8, 10, 10/1, 11, 12, 13, 15, 16;

2. development tables No. 7, 10 for order journals No. 13, 15;

3. acts of acceptance and transfer of OS, f. No. OS-1;

4. acts of acceptance and delivery of the repaired, reconstructed OS, f. OS No.-

5. acts for writing off fixed assets, f. No. OS-3;

6. acts for the write-off of vehicles, f. No. OS-4;

7. inventory cards of accounting of OS, f. No. OS-6;

8. Inventory of inventory cards for accounting of fixed assets, f. No. OS-7;

9. accounting cards for the movement of fixed assets, f. OS-8;

10. Inventory lists of OS, f. OS-9;

11. sales contract, supply contract, donation contract;

12. order on the accounting policy of the enterprise.

Checking OS motion operations

Verification of transactions on capitalization of fixed assets must begin with a study of the accounting policy of the enterprise for the financial year for which the audit is performed. The next stage of the check is to check whether the organization has a resolution of the current commission for the acceptance and write-off of fixed assets.
(there are cases of unofficial transfer of the functions of this commission to the chief accountant), if such a commission has not been created, then during the audit it is necessary to obtain from the management its creation, since all issued documents for admission and especially for writing off fixed assets have no legal force, and all records in the accounting for this reason must be corrected. It is very important to make sure that the initial value of the objects is determined correctly.
OS. In the practice of conducting audits, there are a lot of cases when the initial cost of objects is significantly underestimated due to the non-adherence to the cost of additional costs incurred by the organization associated with the delivery, loading, unloading and installation of equipment specified in the supplier's contract (invoice) (all costs are recorded on account 08 , then added up and debited to account 01). As a rule, all of these additional expenses are included in the cost of finished goods, which distorts the dynamic performance of the organization and underestimates the accrued and paid amounts of taxes. There are cases when the amounts paid for the delivery of fixed assets are listed for a long time in the accounts receivable, while they successfully work for the production of products for the same time. It is very important to verify the actual availability of the OS by comparing it with the credentials. This must be done due to the fact that the OS inventory is allowed to be carried out 1 time in 3 years; it is also necessary to verify the OS inventory numbers with the credentials, since it so happens that inventory numbers are not assigned at all, or numbers of previously written off OS are assigned. The auditor should also check the correctness of the separation of fixed assets by the nature of their participation in production (in production, reconstructed or in stock).

Checking the correctness of documentary registration of capitalization of fixed assets and their write-off

The practice of conducting audits shows that in most cases the necessary documentation related to the capitalization of fixed assets is not kept, and if it is, then not all the details provided in the form of the document are filled in, and this ultimately leads to the fact that depreciation is incorrectly determined. deductions, and in the production of capital repairs of fixed assets, costs are illegally included in the cost price, which, according to the regulation, should be attributed to capital investments. Often, equipment is recorded impersonal, without assigning it to the employees responsible for its safety, which sometimes leads to shortages and theft.
Often, the transfer of an OS from one location to another is not documented, which leads to confusion in accounting. The auditor must report all cases to the management of the enterprise. When checking, the auditor should pay special attention to documenting the legality of writing off fixed assets from the register, tk. this moment affects the final results of the enterprise. Dealing with the issues of writing off fixed assets, the auditor must check the posting of material assets received from the dismantling of fixed assets; if this was not done, then the final results from the write-off of fixed assets cannot be recognized as correct.

Checking the correctness of the assessment and revaluation of the fixed assets, the calculation of depreciation charges, the capital and current repairs of the fixed assets

If the company applies the method of accelerated depreciation (as indicated in the accounting policy of the enterprise), the auditor specifies and applies the purpose of the accelerated depreciation, which served as the basis for its maintenance, the start date of the depreciation, the (conditional) established coefficient of increasing the rates of depreciation deductions (AO) and a list of equipment for which accelerated depreciation is used, while it should be noted that this method refers only to the active part of the OS for enterprises of all industries and in relation to all OS of high-tech sectors of the economy. The auditor is obliged to ascertain whether the decision to apply the accelerated method has been communicated to the tax authorities.
When checking the accrual of AO, the auditor should pay attention to the accrual of AO for fixed assets that are not related to industrial production, i.e. JSC for cultural objects, are they included in the cost of production.
This is done in order to reduce the cost of maintaining non-industrial facilities.
Due to the fact that at present many enterprises are idle, or work in 1 shift or less, are in reserve or mothballed, an important element of the check is the legality of the suspension of accrual
JSC and the application of decreasing coefficients to the current norms (no more
0.5). It is also important to check whether the accrual of AO on fixed assets, which already have full depreciation, is not continuing. There are cases when accountants make mistakes in determining the norms of joint-stock companies, especially for those fixed assets for which the ciphers are not indicated on the technical documentation. In these cases, the auditor must obtain from the management of the organization the creation of an authoritative commission to classify a particular asset of the fixed assets to the appropriate groups. When checking the accrual of AO for fixed assets, the auditor must check both the corresponding calculations, and their identity with the data of the analytical and synthetic accounting JSC. When checking the issues related to the attribution of costs for the production of technical and major repairs, the auditor must check the documentation, on the basis of which the checked repair-defective statements, the plan for the repair work, estimated calculations... At the same time, it is very important to conduct a thorough check of all stages of repair work, and the main thing is to establish whether there are any such works that should be attributed not to major repairs, but to capital investments. Very often, such violations are committed during the production of repairs in rented buildings, and often the lease agreements do not specify the party that must carry out the repair. Often, enterprises carry out the reconstruction of fixed assets under the guise of capital, or, even worse, technical repair, thereby writing off illegal costs for the cost of production, and not offsetting sources for financing HF. In the course of inspections, a postscript is often revealed in the amount of work performed, moreover, carried out both by the forces of the organization itself and by third-party organizations. In such cases, if the auditor cannot himself determine the signs and nature of the assignment of work (to repair or to CV), he must invite a specialist. Subscriptions always lead to an illegal increase in the cost of production of work, and, consequently, to an increase in the cost of production. An important element checks - establishing the facts of attributing costs to renovation work in the cost of production for fixed assets that are not related to production assets. When carrying out an audit, the attribution of costs to repair work, the auditor should pay attention to the following factor: often enterprises, in accordance with the adopted accounting policy, create a reserve, repair fund at the expense of the cost of production, the funds of which are recorded on account 89 - "Reserves for future expenses and payments". The following violations are committed in the use of this fund:

Having funds to pay for repair work on the specified fund, enterprises, nevertheless, attribute the costs to the cost of production, thereby increasing the cost of production twice by the amount of repair;

At the expense of the repair fund, writes off the costs of repair work of fixed assets that are not related to production assets;

In violation of the current legislation, the balances of the unused repair fund at the end of the reporting period do not reduce the cost of production. Legislation is now allowed to leave unused carry-over funds in the fund balance if they are intended to be used to cover the cost of repairing fixed assets with a long repair cycle. At the same time, the legislation does not provide an exact description of which OS repair can be attributed to this repair category.

Verification of transactions for the acquisition and movement of intangible assets

First of all, the auditor must establish the legality and correctness of the inclusion of values in the intangible assets, focusing on such features as the ability to generate income. In some cases, the auditor may be incompetent to objectively check such an issue, therefore, if necessary, he must invite specialists, having previously coordinated this issue with the management of the enterprise. During the audit, it is also necessary to check such issues as the correctness of the attribution to the cost of manufactured products, the cost of individual software products that are classified as intangible assets and are designed to produce a certain number of products during the year. Such software products cannot be taken into account as part of intangible assets, since they are used in production for a year, but not more than a year.

Often, intangible assets include various licenses with a validity period of less than 1 year (including engaging in auditing activities), the cost of various fees (licenses for the right to trade in alcoholic beverages, beer, tobacco products); all this should be covered by the profit remaining at the disposal of the enterprise.

When checking the accrual and write-off of the intangible assets depreciation, the auditor needs to make sure that the depreciation is charged, is charged to the prime cost on a monthly basis, and not at the end of the reporting period. When checking the issues related to the disposal of intangible assets, the auditor checks whether all these transactions are reflected only on account 48 "Sale of other assets", and not on accounts 46 and 47. correspondence of the data of analytical and synthetic accounting of intangible assets and their depreciation with entries in the General Ledger or other similar ledger. With a significant number of types and value of intangible assets, it is necessary to check the issues of analytical accounting by their types.

Checking cost accounting and calculating the cost of production

1. Purposes and sources of information

2. Checking the correctness of the allocation of costs to primary and secondary production, work in progress

Purposes and sources of information

The main purpose of the audit is to verify the legality of the attribution of production costs. When checking the cost accounting and costing of products, it is necessary to check the correctness of:

Documentary reflection of costs directly related to the cost of production products;

Formation of the cost by cost elements;

The invariability of the method of accounting for production costs and the calculation of the cost of production chosen at the beginning of the year and its compliance with the industry and organizational characteristics of the organization;

Separation of costs for reporting periods;

Allocation of costs between certain types of finished products and work in progress;

Write-off of the amounts of overhead costs and methods of their distribution among objects of calculation;

Allocation of the actual amounts of travel expenses, entertainment expenses, advertising, training and retraining of personnel, payment of audit services to production costs;

Identification of on-farm reserves for reducing the cost of production.

Sources of information are:

Journal-order 10, 10/1, 11;

Vedomosti 12, 14, 15;

General ledger, as well as forms of annual and quarterly reporting.

Checking the correctness of the allocation of costs to main and auxiliary production, work in progress

The costs that form the cost of production are grouped by elements:

Material costs (less the cost of returnable waste);

Labor costs;

Social contributions;

Depreciation deductions for fixed assets;

Other costs.

When checking the write-off of material costs to the cost of production, the auditor should pay attention to:

Availability of approved consumption rates for materials, and how they are actually written off for production;

Was there a write-off for the production of materials that are not related to the production of a specific type of product;

Is there a record of marriage in production, and where are the amounts of losses from marriage written off;

Is it correct to evaluate and write off returnable production waste;

Whether the deviations in the cost of materials recorded on account 16 are written off correctly for production;

Was the attribution to production of the cost of shortages and losses of values correct within the limits of the norms of natural loss?

An important element of the cost of production that is subject to verification is labor costs, while during the audit, the auditor takes into account that the wages for the actually performed work, calculated on the basis of piece rates, tariff rates and official salaries, in accordance with those adopted at the enterprise forms and elements of remuneration are included in the cost in full in accordance with the settlement documents. Compensation payments are examined during the audit
(wages due to price increases and income indexation; payments to mothers for childcare), which should be included in the cost price only within the limits provided for by law.

When checking labor costs, it should be borne in mind that these include:

The cost of products handed out as payment in kind;

Cost of issued free specific categories workers of subjects.

It is necessary to pay attention to possible facts of including non-production costs in the cost price, such as:

Bonuses paid from special purpose funds and earmarked income;

Material assistance;

Pension supplements;

Payment for travel to the place of work by public transport;

Payment for vouchers for treatment and rest, and other payments not directly related to wages.

Checking the article of the joint-stock company, they establish the correctness and legality of the reflection of the amounts of the joint-stock company for the full restoration of the OPF (the issue is discussed in more detail in the topic "Verification of fixed assets and intangible assets").

In the practice of conducting audits, cases of illegal attribution of costs and incorrect documenting of certain costs are often revealed. This is primarily due to the fact that some accounting employees do not know exactly the regulations for such expenses as representation, advertising, training and retraining of personnel, travel expenses, etc.

Since July 1, 1992, production costs include hospitality related to the commercial activities of the organization, expenses for the official reception of representatives of other organizations, including foreign ones, attending cultural and entertainment events, payment for the services of non-state translators).

Conditions for the justification of the write-off of entertainment expenses for production costs:

Within the estimates of the enterprise approved by the board of directors

(board) on reporting year and established on the basis of norms and standards developed by legislation (i.e. the auditor must check the availability of cost estimates for the year). Documentary evidence of expenses.

Excess entertainment expenses must be added to the profits of the organization for tax purposes.

Conditions for the justification of writing off business travel expenses to production costs:

A business trip must be related to production activities within the limits of confirmed expenses (an order signed by the manager or his substitute, a travel certificate with marks, tickets, a hotel bill and a cashier's receipt), per diem - 55 rubles, housing costs - 270 rubles, if not supporting documents, then to pay for housing - 7 rubles. Amounts in excess of the norm - to increase the payroll, increase income tax.

Conditions for the justification of writing off the costs of training and retraining of personnel to production costs:

Agreement concluded with educational institution licensed for educational activities and documentary evidence of expenditures within the standards.

Conditions for writing off the amounts for shortages of values:

The act of inventory of valuables, where the shortage is justified;

Lack within the norms of natural loss;

Order of the head of the organization to write off the cost of missing values for production costs.

WIP (work in progress) valuation methods are determined by the accounting policy of the organization. During the audit, it is necessary to check the status of the WIP accounting, the timeliness and correctness of its inventory, the error-free reflection of the inventory results in accounting and the correctness of the WIP assessment.

Inventory is of great importance for checking the safety of semi-finished products, parts, assemblies, and detecting unaccounted defects. Checks show that at some enterprises the inventory of WIP is carried out poorly and irregularly, not the entire composition is subject to inventory
WIP, but only a part of it, the results of the inventory are not reflected in the accounting.
The weakened attention of accounting workers to the inventory of WIP leads to the irresponsibility of officials in the expenditure of material assets in production, therefore, the setting of WIP accounting and compliance with the timing of the inventory should be carefully checked.

The auditor should check whether the deficiencies and surpluses of WIP identified during the inventory are correctly recorded.

In order to reasonably assess the state of accounting for production costs, it is advisable to record all identified violations in specially developed statements, where special indicators should be provided:

Title of the document;

Date of preparation and No. of the document;

Correspondence of invoices;

Notes.

In a note, the auditor records the findings and suggestions for correcting the shortfall.

Audit of sales and finished products

1. Objectives of verification and sources of information

2. Checking the correctness of reflection of the sale of finished products

Purpose of verification and sources of information

The purpose of checking the sale of finished products is to establish the correctness of the reflection in the reporting:

Actual proceeds from product sales;

Actual production costs of products sold;

Profits from other sales;

Non-operating income;

Determination of prices for the sale of other material assets, fixed assets,

The sources of information for verifying the actual proceeds from sales are:

Order on the organization of accounting policies for the accounting year;

Main book;

Journal-order №№ 1, 2, 10/1, 11;

Statement 16.

Primary documents for the release of finished products from the warehouse:

Bank statements on the flow of funds on the current account;

Payment claim and payment order to pay for the shipped products;

Incoming cash orders upon receipt of cash at the cash desk, presented to pay invoices for shipped products;

Other payment documents, securities, letters related to payment for shipped products;

Report on financial results and their use.

Checking the correctness of the reflection of the sale of finished products

Checking the correctness of the reflection in the reporting of indicators of sales of products, you must first familiarize yourself with the method of assessing the implementation, fixed in the accounting policy of the organization for the reporting year, paying attention to its invariability during the entire audited period. In the process of checking this object of control, the auditor must analyze the correctness of the chosen option for determining the proceeds from the sale of products and recognizing profits.

It is necessary to establish and verify the existence of contracts for the supply of products and the correctness of their execution; compliance with the selected accounting option and determination of revenue for accounts 46, 47, 48 during the year; maintaining synthetic and analytical accounting for accounts 45, 46, 47, 48 and 62, then it is advisable to find out how effective the ICS is and how much you can trust its data. Weaknesses and strengths of internal control can be identified by drafting and conducting tests, indicated in letters to management.

The questionnaires are designed in such a way that “no” or “no answer” answers indicate weaknesses in the control. The purpose of assessing the effectiveness of internal control is to develop a final audit program. Everything accounting registers listed above are interconnected, and therefore it is necessary to check in them:

Completeness and timeliness of reflection of the cost of shipped products and proceeds from their sale;

Correctness of writing off the cost of real products;

Reasonableness and correctness of the assignment of commercial expenses;

Accuracy of writing off the trade margin;

The correctness of the calculation of financial results from the sale of products

(of each type), or services rendered, works performed;

The auditor must establish the compliance of analytical accounting data on product sales with synthetic accounting data, with mutual verification sales records, in different registers, you can set the accuracy of the reflection of the amounts and the correctness of the correspondence of accounts for these transactions. This is how the data in the General Ledger is compared with the data of the journal-order No. 11, as well as the summary indicators of the journal-order No. 11 must correspond to the similar indicators of the statement No. 16, 17.

After reconciling the reported indicators with the data of the accounting registers, the auditor must conduct a documentary check of the shipment and sale of products.
The following primary documents are the basis for registration of the shipment of products:

Consignment notes of finished goods warehouse;

Consignment notes for the transportation of products by road;

Transport receipts for the transportation of products by other means of transport;

Power of attorney;

Pass for the export (removal) of products from the territory of the organization, if there is a pass control in the organization.

Checking the documents listed above, the auditor must compare the dates of execution of the corresponding shipping documents with the date of reflection of the shipping operations in the corresponding accounting register and the date of payment for the shipped products according to bank statements. If discrepancies are found, invite accounting employees to make changes and corrections to accounting and reporting indicators.

Audit of the formation of financial results

When checking the reliability of the final financial result, the auditor must establish the correspondence of the data of the financial results report with the entries of the General Ledger, order journals No. 11, 16, balance sheet. The process of auditing financial results can be divided into 3 objects:

Audit of profit (loss) of the reporting period;

Audit of taxable income;

Net profit audit.

The check of the summarizing indicator of profit (loss) of the reporting period is carried out in order to establish the facts of the inclusion of unrelated costs in production costs, as well as the incorrect calculation of profit, which is the object of taxation.

There are 4 main groups of such distortions and the reasons for their occurrence:

Distortion of profit, taken to determine the amount of payments to the budget due to unreasonable overestimation (understatement) of the amount of material costs included in the cost of goods, products, works, services, incorrect assessment of the compilation of the balance of WIP and shipped goods, work performed, services rendered at the end of the audited period , shortages of goods and materials, BPO and expenses with debtors on claims;

Inclusion in production costs of expenses covered in accordance with the current legislation at the expense of special sources reflected in the liabilities of the balance sheet;

Distortion of the financial result taken to determine payments to the budget by including in production costs or attribution to profit of expenses subject to reimbursement from net profit, as well as unreasonable overestimation of operating and non-operating income by including financial results from the sale of goods and products in their composition, other operations;

Concealment of income by crediting proceeds from the sale of goods, products to other balance accounts.

To conduct an audit, you must use the following information base:

The order of the enterprise on the accounting policy for the reporting year,

Forms of financial statements No. 2, 4;

Main book;

Journals - orders №№ 1, 2, 11, 15, as well as data of analytical and synthetic accounting, primary documents.

An audit of the formation of financial results begins with the analysis of documents on the application of accounting policies for the reporting year.

The second stage of verification is the verification of the indicator of the cost of goods sold (form No. 2). It is necessary to continuously check compliance with the requirements of the provisions on the composition of costs for the production and sale of products and on the procedure for the formation of financial results, taking into account recent changes and additions, to establish the validity of the inclusion of costs in the cost, as well as their write-off at the expense of the balance sheet profit and profit remaining at the disposal of the enterprise.

During the listening process, all the main parts of each financial result are monitored:

From the sale of products;

From the sale of fixed assets and other property;

From non-sales activities.

The profit auditing methodology model is presented in table 4.

The audit of production costs and product sales were discussed earlier.

In the course of checking the sales of products, special attention should be paid to checking the indicators of shipment according to invoices with similar indicators for export passes, because during such checks, cases are revealed when a smaller (and sometimes more) quantity of products is exported by passes than indicated in the shipping bills and payment documents, however, the accounting records for the sale of products that are indicated in the shipping notes, and with a sudden check on its surplus is revealed in the warehouse. On the contrary, when the number of exported products is detected by passes more than in the shipping waybill, during sudden checks at the warehouse, there is a shortage of products (and sometimes this shortage is thus impossible to identify and this indicates that unaccounted products were exported, which indicates direct theft of products from the enterprise). Such a conclusion can only be drawn after careful investigation of the reasons for discrepancies in shipping documents and passes. If such violations are detected, the auditor should require the submission to be explained by the relevant officials and suggest changes to the accounting and reporting indicators for product sales and financial indicators. The auditor must carefully check the sale of products, which include components and parts, and, when violations are found, propose changes to the indicators for sales and profit.

The next thing you need to pay attention to is checking the formation of financial results from non-operating transactions.

When conducting an audit, it is necessary to pay attention to the correct documenting and the legality of writing off accounts receivable, losses from natural disasters, uncompensated losses as a result of fires, accidents and other emergencies caused by extreme conditions; losses from embezzlement, the perpetrators of which have not been established by a court decision, fines for violations that do not relate to the fulfillment of conditions under business contracts, the amount of doubtful debts on settlements with other enterprises. The practice of conducting audits of such descriptions shows that the documents are not of adequate quality and there are often cases when decisions to write off are made by the chief accountant and the head of the enterprise, while the reasons for the formation of such debts are not investigated, the debts of enterprises are not confirmed by reconciliation acts, and an in-depth check of such write-offs sometimes reveals cases of abuse, and sometimes theft of the MC, both by individual officials and by groups of individuals. Often, fines paid that are not related to business contracts or are imposed on specific officials are attributed to the financial results of the organization, and not to the profit remaining at the disposal of the enterprise or the perpetrators.
When writing off losses from natural disasters or other extreme cases, an inventory of damaged property is not carried out, but losses are written off according to established acts, and, as a rule, with such write-offs, documents of the relevant local authorities are not attached as a justification, confirming the fact that a natural disaster has occurred in the area. ...
When checking the financial results, the auditor must also check the correctness of the calculation and timeliness of contributions to the income tax budget, the correct distribution of profits between the founders, the correctness of the formation of special funds. In addition to checking the accrual and payment of income tax, the company checks compliance with the terms of its accrual and payment. The main thing in the auditor's work is to determine the reliability of the calculation of the taxable base, to confirm the correctness of the calculation of income tax and expenses incurred from profit after taxes and mandatory payments.

Table 4

Profit auditing technique

Table 5

Auditing methodology for taxable income

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Lecture on the subject: Audit

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The auditor is an individual who meets the qualification requirements established by the authorized federal body, and having an auditor's qualification certificate.
The auditor has the right to carry out audit activities as an employee of an audit organization or as a person engaged by an audit organization to work on the basis of a civil law contract, or as an individual entrepreneur operating without forming a legal entity.
Auditing organization is a commercial organization that performs audits and provides audit-related services. An audit organization can carry out its audit activities only after obtaining a license to carry out this type of activity. An audit organization can be created in any organizational and legal form, with the exception of an open joint stock company. At least 50% of the staff of the audit organization must be citizens Russian Federation permanently residing in the territory of the Russian Federation, and if the head of the audit organization is foreign citizen, - not less than 75%. The staff of the audit organization must consist of at least five auditors.

2. Types of audit
Audit can be classified according to various criteria. The following classification of audit types is possible:
1. In relation to the subject - the audited entity:
external audit (inspections are carried out by invited specialists at the request of the economic entity or in accordance with the requirements of the state);
internal audit (inspections are carried out by specialists subordinate to the economic entity).
2. According to the obligatory conduct:
mandatory audit (checks carried out in accordance with the requirements and criteria established by legislative acts);
initiative (voluntary) audit (checks carried out at the request of an economic entity, founder (participant), property owner, supervisory body of an economic entity).
3. By the type of economic activity of the subject - the audited entity:
general audit (audit of enterprises, associations, organizations, institutions, regardless of organizational and legal forms and types of ownership); bank audit; audit of insurance companies; audit of exchanges;
audit of investment institutions; audit of off-budget funds.
4. By the nature of the check:
confirmation audit (verification and confirmation of the accuracy of accounting and reporting documents);
system-oriented audit (audit expertise based on the analysis of the internal control system);
risk-based audit (concentration of audit work in areas with higher possible risk which greatly simplifies auditing in low-risk areas).
5. By the frequency of carrying out:
initial audit (conducted by an auditor (audit organization) for the first time for a given economic entity);
periodic (recurring) audit (carried out by an auditor (audit organization) repeatedly or regularly and is based on knowledge of the specifics of accounting and reporting of a given economic entity);
operational audit (short-term check to make an overall assessment of the state of accounting, reporting, compliance with legislation, the effectiveness of internal control, performance assessment).
6. By appointment:
audit for compliance with legal requirements;
management (production) audit (checking and improving the organization and management of the enterprise, the quality aspects of production activities, assessing the efficiency of production and financial investments, productivity, rationality of the use of property);
audit of economic activity (a systematic analysis of the economic activity of an economic entity, carried out for specific purposes: assessing management efficiency, identifying opportunities for improving economic activity, formulating recommendations for improving performance or making management decisions);
special industry audit (environmental, technical, etc.).
7. In relation to the object of the audit:
audit of financial (accounting) statements (checking the statements of an economic entity in order to make an opinion on the compliance of its accounting rules);
tax audit (verification of compliance with legislation on taxes and fees);
price audit (checking the validity of setting prices).
The presented classification is rather arbitrary.
In the regulations governing auditing, the audit is classified in relation to the subject - the audited entity, in relation to the requirements of the legislation, according to the objects of audit.

The general classification of audit activities is shown in Fig. 1.1.

Rice. 1.1 General classification of audit activity in Russia

The law "On Auditing" defines the scope of audit - checking accounting and financial (accounting) statements of organizations and individual entrepreneurs, as well as its goals and objectives.

3 Objectives, objectives and functions of the audit

Reliability is understood as the degree of accuracy of financial (accounting) reporting data, which allows the user of these reports, based on its data, to draw correct conclusions about the results of economic activity, financial and property status of the audited entities and make informed decisions based on these conclusions.
The auditor expresses his opinion on the reliability of the financial (accounting) statements in all material respects.
Based on the above audit goal, it is possible to formulate several specific tasks that auditors solve:
assessment of the level of organization of accounting and internal control;
assessment of the correctness and legality of making accounting records;
providing assistance to the governing bodies of the organization by developing recommendations for eliminating deficiencies and violations;
orientation of the organization to future events that may affect business activities ( prospective analysis);
identification of reserves for the growth of financial resources of the organization;
verification of compliance with the current legislation in the field of taxation;
confirmation of reliable reports or statement of their unreliability.
To achieve the main objective, the auditor should form an opinion on the following issues:
1 General acceptability of reporting - the reporting does not generally correspond to the totality of requirements imposed on them, whether it contains conflicting information.
2 Reasonableness - whether there are grounds for including the reported amounts in the statements.
3 Completeness - whether all appropriate amounts are reflected in the reporting, whether all assets and liabilities belong to the economic entity.
4 Evaluation - whether all articles have been correctly evaluated and counted correctly.
5 Classification - whether the allocation of specific amounts to the account in which they are reflected is justified.
6 Separation - whether financial and business transactions carried out shortly before the date of the balance sheet or immediately after it are attributed to the period in which they were posted.
7 Accuracy - whether the amounts of individual transactions correspond to the data presented in the analytical accounting registers, the data presented in the synthetic accounting registers, balance sheet, ledger.
8 Disclosure - whether all items are recorded in the financial (accounting) statements, whether they are correctly reflected in the accounting documents and related annexes to them.
Despite the fact that the auditor is responsible for the formulation and expression of an opinion on the reliability of the financial (accounting) statements, the management of the audited entity is responsible for the preparation and presentation of financial (accounting) statements. An audit of financial (accounting) statements does not relieve the management of the audited entity from such responsibility.
387 Audit functions.
From the point of view of the development of audit in the scientific literature, there are three audit functions: confirmatory, system-oriented and risk-based audit function.
Confirming - characterized by the fact that during the audit, the auditor checks and confirms almost every business transaction, in parallel with the accountant creates his own accounting registers.
Since audit is an entrepreneurial activity, i.e. activities aimed at generating profit, auditors should apply such methods that would minimize the time spent on the audit, without compromising quality.
System-Oriented - Provides for the observation of the systems that control the operations. This function allows auditors to carry out due diligence based on internal control. If the internal control system works well, it will be easier to carry out external audits.
Risk-based audit is an audit where verification can be performed selectively, mainly - bottlenecks (critical points) in the operation of the enterprise. By focusing audit work in areas where risk is higher, you can reduce the time it takes to audit low-risk areas. Those who rely on the judgment of auditors believe that this can provide a more cost-effective audit.

4 Types of audit-related services

Despite the fact that the concepts of "audit" and "audit activity" are used interchangeably, it is necessary to understand that the concept of "audit activity" is broader than the concept of "audit", as it includes both the audit itself and services related to the audit.
The law contains a list of related services that can be provided by auditors:
setting up, restoration and maintenance of accounting records, preparation of financial (accounting) statements, accounting consulting; tax consulting;
analysis of financial and economic activities of organizations and individual entrepreneurs, economic and financial consulting;
management consulting, including those related to the restructuring of organizations;
legal advice, as well as representation in court and tax authorities on tax and customs disputes;
automation of accounting and implementation of information technologies;
appraisal of property value, appraisal of enterprises as property complexes, as well as entrepreneurial risks;
development and analysis of investment projects, drawing up business plans;
marketing research;
carrying out research and experimental work in the field related to audit activities, and disseminating their results, including on paper and electronic media;
training in the order established by the legislation of the Russian Federation for specialists in areas related to auditing;
provision of other services related to audit activities.
At the same time, audit organizations and individual auditors are prohibited from engaging in any other entrepreneurial activity, except for conducting an audit and providing related services.
5. Principles of auditing

Rule (standard) No. 1 "The purpose and basic principles of the audit of financial (accounting) statements" (approved by Decree of the Government of the Russian Federation No. 696 dated September 23, 2002, as amended on October 7, 2004) discloses general principles audit.
When performing his professional duties, the auditor should be guided by the norms established by the professional audit associations of which he is a member (professional standards), as well as by the following ethical principles:
independence;
objectivity;
confidentiality;
professional competence and integrity;
use of methods of statistics and economic analysis;
application of new information technologies;
manifestation of professional skepticism.
The auditor's independence is due to the fact that he is not an employee of a state institution, is not subordinate to the control and audit bodies and does not work under their control, complies with the standards of a professional audit association (association), does not have any property or personal interests in the audited enterprises (Article 12 of the Law "On audit activity").
Objectivity is ensured by high professional training of the auditor, extensive practical experience, knowledge of the latest methodological literature.
Confidentiality is the most important requirement in the implementation of audit activities. The auditor should not provide any information to any body about the economic activities of the object he inspected. For the disclosure of the secrets of his clients, he must bear responsibility under the law, as well as moral, and if provided by the contract, then material responsibility.
The auditor must have the necessary professional competence and conscientiousness, take care of maintaining it at the proper level, and comply with the requirements of regulatory documents. The auditor should not provide services to the client in those areas of the economy in which he does not have sufficient professional knowledge.
The use of statistical and economic analysis methods allows organizing the analysis of the inspections carried out at a high scientific level, obtaining more objective and reliable data for decision-making.
The use of new information technologies is mainly in the use of computers for the organization of audit activities. This also applies to checking and analyzing reporting, maintaining and restoring accounting.
The auditor, in the course of planning and conducting the audit, must show professional skepticism and understand that there may be circumstances leading to a material misstatement of the financial (accounting) statements.
Demonstration of professional skepticism means that the auditor critically evaluates the weight of the audit evidence obtained and carefully examines audit evidence that conflicts with any documents or statements by management, or casts doubt on the reliability of such documents or statements. Professional skepticism should be exercised during the audit in order not to lose sight of suspicious circumstances, not to make unwarranted generalizations when drawing conclusions, not to use erroneous assumptions in determining the nature, timing and extent of audit procedures, as well as in evaluating their results.
When planning and conducting an audit, the auditor should not assume that the management of the auditee is dishonest, but should not assume that management is unconditionally honest. Oral and written representations from management are not a substitute for the auditor to obtain sufficient appropriate audit evidence to draw reasonable conclusions on which to base the auditor's opinion.
It should be borne in mind that the concept of "reasonable assurance" defined by the same standard applies to the audit process as a whole. This concept is related to the limitations when auditors detect distortions of financial (accounting) statements.
Factors limiting the effectiveness of an audit include:
the use of procedures such as sampling and testing during the audit;
imperfection of any accounting and control systems;
Providing only arguments in support of a certain conclusion on the part of the overwhelming majority of audit evidence, and not forming a comprehensive opinion;
the presence of professional judgment in the audit work, including when determining the scope, focus and schedule of audit procedures, as well as when summarizing the results of the work performed.

6 The difference between audit and other forms of financial control: audit, forensic accounting

Audit is one of the forms of financial control and is carried out along with its other types: state financial control, audit, forensic accounting expertise.
State financial control by the decree of the President of the Russian Federation of July 25, 1996 No. 1095 "On measures to ensure state financial control in the Russian Federation" (as amended on July 18, 2001) is assigned to:
? The Accounts Chamber of the Russian Federation; Central Bank of the Russian Federation;
? Federal Treasury; Ministry of Finance of Russia; Federal Tax Service of Russia;
? State Customs Committee of the Russian Federation;
? Central Bank of the Russian Federation;
? other bodies exercising control over the receipt and expenditure of funds from the federal budget and federal extra-budgetary funds.
Financial control methods are: documentary and desk audit, economic analysis, examination, revision. In the opinion of the absolute majority of experts, the first place belongs to the audit.
An audit is a system of mandatory control actions for documentary and actual verification of operations with federal budget and state extra-budgetary funds, for the use of federal property and the implementation of financial and economic activities performed by the audited object in a certain period, as well as checking their reflection in accounting and reporting ...
The purpose of the audit is to determine the legality, completeness and timeliness of mutual payments and settlements of the audited object and the federal budget, budgets of state extra-budgetary funds, as well as the effectiveness and targeted use public funds.
Audit objects - all state bodies (including their offices) and institutions in the Russian Federation, state extra-budgetary funds, as well as local government bodies, enterprises, organizations, banks, Insurance companies other financial and credit institutions, unions, associations and other associations (regardless of types and forms of ownership), if they receive, transfer and use funds from the federal budget or use federal property, or manage it, and also have tax , customs and other benefits and advantages.
The main objectives of the audit are:
control over the observance of state financial discipline and the economical use of public funds;
ensuring the safety of material and financial resources;
the correctness of accounting;
suppression of economic offenses.
The auditor is appointed by the auditing organization and reports to it. She also pays for his work. Based on the results of the audit, an act is drawn up, on the basis of which organizational conclusions are made in relation to the management of the audited organization and its accounting staff, and penalties are imposed.
Audit (auditing) is an entrepreneurial activity for the independent verification of accounting and financial (accounting) statements of organizations and individual entrepreneurs (hereinafter referred to as audited entities).
The purpose of an audit is to express an opinion:
on the reliability of the financial (accounting) statements of the audited entities;
on the compliance of the accounting procedure of audited entities with the legislation of the Russian Federation.
Thus, an audit differs from an audit for a number of reasons:
by the purposes for which they are directed:
- the audit identifies and fixes the shortcomings of the economic activities of the organization;
- the audit not only reveals shortcomings, but also contributes to their elimination and punishment of those responsible;
for legal regulation:
- relations in the field of audit are governed by civil law (on the basis of economic contracts);
- audit relations are governed by administrative law (based on laws, orders);
by objects of control:
- the object of the audit is something that worsens the solvency of the organization, its financial condition;
- the object of the audit is something that violates the legislation of the Russian Federation and the accounting policy of the organization (state);
by type of control:
- there are horizontal (voluntary) links in the audit;
- during the audit - vertical (based on administrative order and coercion);
on the practical tasks being solved:
- the audit contributes to the attraction of new liabilities, as well as strengthening the solvency;
- the audit is aimed at preserving the assets of the organization, as well as suppressing various abuses (offenses);
according to the results achieved:
- during the audit, an auditor's report is drawn up, as well as various recommendations for the audited organization;
- during an audit - an audit act, organizational conclusions, penalties, mandatory instructions are made.
Audit is a method of exercising independent non-departmental control, but it does not replace the State Financial Control.
Although there are many differences between audit and revision, nevertheless, a number of auditing methods, techniques, approaches to verification can and should be rationally used in audit.
The difference between an audit and a forensic accounting examination is that the SES is carried out by decision of the judicial authorities and is aimed at obtaining a source of evidence in the presence of a criminal or arbitration case.
The general provisions on forensic examination, enshrined in the Federal Law of May 31, 2001 No. 73-FZ "On State Forensic Expert Activity in the Russian Federation", apply to all types of forensic examinations, including forensic accounting.
Forensic examination - a procedural action, which consists of conducting research and preparing an opinion by an expert on issues, the resolution of which requires special knowledge in the field of science, technology, art or craft, and which are put before the expert by the court, judge, body of inquiry, the person making the inquiry, the investigator or a prosecutor in order to establish the circumstances to be proven in a particular case.
The specificity of forensic accounting is manifested, firstly, in the fact that it requires special knowledge in the field of accounting and related disciplines (economic analysis of economic activity, taxation, finance, audit, etc.), and, secondly, in the fact that the object of investigation and court proceedings are business transactions reflected in documents or in accounting registers.
The legal basis for conducting forensic accounting expertise is the Constitution of the Russian Federation, the Civil Procedure Code of the RSFSR, the Arbitration Procedure Code of the Russian Federation, the Criminal Procedure Code of the Russian Federation, the Code of the Russian Federation on administrative offenses, Customs Code of the Russian Federation, tax code Of the Russian Federation and other federal laws, as well as regulations federal executive bodies.
Forensic accounting expertise does not belong to the number of mandatory examinations, but is appointed if necessary. For each specific case, the person conducting the inquiry, the investigator and the court must resolve this issue on the basis of specific circumstances. In some cases stipulated by law, an examination must be ordered without fail (for example, if the results of the audit do not correspond to the materials of the investigation, if the disagreements cannot be eliminated during the second audit, or if the accused disputes the results of the audit, stating that the auditor did not accept the documents presented the accused).
The audit acts as a service that is paid by the client, and which is performed using the norms of civil law, business contracts and is aimed at improving the financial situation of the client, attracting liabilities (investors, creditors), helping and advising the client.

7. Subjects statutory audit

A statutory audit is an audit that is subject to a direct indication in the Federal Law of the Russian Federation and other federal laws.
The fact that the need for audit in a number of cases is established by legislative acts, and not by the desire of the heads of economic entities, has its reasons and certain consequences both for auditors conducting audits, which are mandatory for economic entities, and for these economic entities.
Reasons for the need for a statutory audit:
1. Subjects of statutory audit, as a rule, work with funds of individuals and / or legal entities - these are banks, insurance organizations, non-state pension funds, open joint stock companies. Employees of these organizations do not always know how to competently read financial statements, analyze financial indicators, draw adequate conclusions. In the case of an audit of such economic entities, the auditor acts as an intermediary between the audited economic entity and an economic entity interested in the activities of the economic entity, but not fully qualified user of financial statements;
2. Establishing the obligation to confirm the reporting of enterprises with a large volume of proceeds from sales, the size of the property, the state thus organizes control over the activities of these enterprises as large taxpayers.
A statutory audit is an annual statutory audit of the accounting and financial (accounting) statements of an organization or an individual entrepreneur.
In accordance with Article 13 of the Federal Law "On Accounting" N 129-FZ of November 21, 1996 (as amended by the Federal Law of 23.07.98 N 123-FZ), the financial statements of commercial organizations consist of:
a) balance sheet;
b) profit and loss statement;
c) annexes to them, provided for by regulatory enactments;
d) an auditor's report confirming the reliability of the organization's financial statements, if it is subject to mandatory audit in accordance with federal laws;
e) explanatory note.
The Law "On Auditing" (Article 7) determines the implementation of a statutory audit in the following cases:
1) the organization has the organizational and legal form of an open joint stock company;
2) the organization is a credit institution, an insurance organization or a mutual insurance society, a commodity or stock exchange, investment fund, a state non-budgetary fund, the source of which is the compulsory calculations provided for by the legislation of the Russian Federation, made by individuals and legal entities, a fund whose sources of funds are voluntary contributions from individuals and legal entities;
3) the volume of proceeds of rubles (excluding VAT, excise taxes and export duties) of an organization or an individual entrepreneur from the sale of products (performance of work, provision of services) in one year exceeds the minimum wage established by the legislation of the Russian Federation by a factor of 500 thousand (the minimum wage is taken to be 100 rubles, line 010 of form No. 2) or the amount of balance sheet assets (line 300) exceeds the minimum wage by 200 thousand times at the end of the reporting year (the minimum wage is taken equal to 100 rubles);
4) the organization is a state unitary enterprise, a municipal unitary enterprise based on the right of economic management, if the financial indicators of its activities correspond to those specified above of this article. For municipal unitary enterprises by the law of a constituent entity of the Russian Federation, financial indicators may be lowered;
5) mandatory audit in relation to these organizations or individual entrepreneurs is provided for by federal law.
Organizations subject to mandatory audit in accordance with federal laws are listed in Table 1.1.

Table 1.1
Title of law Date of adoption and number Contents
1 2 3
On banks and banking activities December 2, 1990 No. 395-1 (as amended by Federal Laws
dated 03.02.96 No. 17-FZ,
dated 31.07.98 No. 151-FZ,
dated 05.07.99 No. 126-FZ,
dated 08.07.99 No. 136-FZ) Article 42. Audit of a credit institution.
The activities of a credit institution are subject to an annual audit by an audit organization licensed in accordance with the legislation of the Russian Federation to carry out such audits.
An audit of a credit institution is carried out in accordance with the legislation of the Russian Federation.
The audit organization is obliged to draw up an opinion on the results of the audit, containing information about the reliability of the financial statements of the credit organization, its compliance with the mandatory standards, established by the Bank Russia, the quality of management of the credit institution, the state of internal control and other provisions determined by federal laws and the charter of the credit institution. The auditor's report is sent to the Bank of Russia within three months from the date of submission to the Bank of Russia of the annual reports of the credit institution
On the organization of insurance business in the Russian Federation on November 27, 1992 No. 4015-1 (as amended by the Federal Law of December 31, 1997 No. 157-FZ) Article 29. Publication of annual balances by insurers.
Insurers publish annual balances and profit and loss accounts within the time frame established by the federal executive body for supervision of insurance activities, after audit confirmation of the accuracy of the information contained therein (as amended by Federal Law No. 157-FZ dated 31.12.97)
About non-state pension funds May 7, 1998 № 75-FZ Article 22. Audit of non-state pension funds.
Foundations are obliged to conduct an independent audit annually based on the results of the financial year. This verification is carried out by an independent auditor.
On consumer cooperatives (consumer societies, their unions) in the Russian Federation June 19, 1992 № 3085-1 (as amended by the Federal Law of 11.07.97 № 97 * FZ) Article 26. Accounting and financial reporting of the consumer society.
1. A consumer society is obliged to maintain accounting records, as well as submit financial statements in the manner prescribed by the legislation of the Russian Federation.
2. The annual report on the financial activities of the consumer society is subject to verification by an independent auditing organization, as well as by the audit commission of the consumer society. The conclusion of the audit organization, as well as the audit commission is considered at the general meeting of the consumer society
On Joint Stock Companies December 26, 1995 No. 208-FZ (as amended by Federal Laws
dated 13.06.96 No. 65 FZ,
dated 24.05.99 No. 101-FZ) Article 88. Accounting and financial reporting of the company.
3. The reliability of the data contained in the company's annual report to the general meeting of shareholders,
balance sheet, the profit and loss account, must be confirmed by the audit commission (auditor) of the company. Before the publication by the company of the documents specified in this paragraph, in accordance with Article 92 of this Federal Law, the company is obliged to involve an auditor who has no property interests with the company or its shareholders for the annual audit and confirmation of the annual financial statements.
On financial and industrial groups November 30, 1995 No. 190-FZ Article 16. Annual report of the financial and industrial group
1. Not later than 90 days after the end of the financial year, the central company of the financial and industrial group submits to all members of the financial and industrial group, the authorized state body, a report on the activities of the financial and industrial group in the form established by the Government of the Russian Federation, and also publishes the said report.
2. The report is drawn up based on the results of the audit of the activities of the financial and industrial group by an independent auditor.
3. The audit is carried out at the expense of the central company of the financial and industrial group.

Mandatory audit is carried out by audit organizations. When conducting a statutory audit in organizations in whose authorized (share) capital the share of state property or property of a constituent entity of the Russian Federation is at least 25%, contracts for the provision of audit services must be concluded based on the results of an open tender. The procedure for holding such competitions is approved by the Government of the Russian Federation.
An audit of audited entities whose financial (accounting) documentation contains information constituting a state secret can be carried out only by audit organizations in whose authorized (pooled) capital there is no share owned by foreign individuals and / or legal entities, and which have access to the information , constituting a state secret, received in the manner prescribed by the legislation of the Russian Federation.
When conducting a statutory audit, audit organizations are required to insure the risk of liability for breach of contract.
The law obliges audit organizations and individual auditors to keep secrecy about the operations of the audited persons and persons who were provided with audit-related services.
The costs associated with conducting a mandatory annual audit in accounting in accordance with RAS 10/99 "Organization Expenses", approved by Order of the Ministry of Finance of Russia dated May 6, 1999 No. 33n, can be attributed to expenses for ordinary activities, and in tax accounting in accordance with paragraph 17 of Art. 264 of the Tax Code of the Russian Federation are included in other expenses related to production and / or sales.

8. Liability of an economic entity for evading a mandatory audit

According to paragraphs. 4 p. 1 art. 23 of the Tax Code of the Russian Federation, taxpayers are required to submit to the tax authority at the place of registration in accordance with the established procedure, financial statements, which include an auditor's report.
In accordance with Article 21 of the Federal Law "On Auditing", liability for violation of the legislation of the Russian Federation on audit is defined as follows:
Auditing organizations and their heads, individual auditors, audited persons and persons subject to mandatory audit bear criminal, administrative and civil liability in accordance with the legislation of the Russian Federation.
Administrative liability (a fine ranging from 100 to 300 times the minimum wage) for "performing audit activities" without obtaining a license.
Administrative liability (fine in the amount of 500 to 1000 minimum wages) for evading an organization or an individual entrepreneur subject to mandatory audit from conducting it or obstructing it.
Criminal liability... According to article 202 of the Criminal Code of the Russian Federation "Abuse of powers by private notaries and auditors":
1. The use by a private notary or a private auditor of their powers contrary to the objectives of their activities and in order to derive benefits and advantages for themselves or others, or harm others, if this act has caused significant harm to the rights and legitimate interests of citizens or organizations or the interests of society protected by law or the state, - shall be punishable by a fine in the amount of one hundred thousand to three hundred thousand rubles, or in the amount of the wage or salary, or any other income of the convicted person for a period of one to two years, or by arrest for a term of three to six months, or by imprisonment for a term of up to three years with the deprivation of the right to hold certain positions or engage in certain activities for up to three years.
2. The same act committed against a person who is known to be a minor or incapacitated person, Shall be punishable by a fine in the amount of one hundred thousand to five hundred thousand rubles, or in the amount of the wage or salary, or any other income of the convicted person for a period of one to three years, or by arrest for a term of four to six months, or imprisonment for up to five years with deprivation of the right to hold certain positions or engage in certain activities for up to three years.
Failure to submit within the time period established by the legislation on taxes and fees or refusal to submit tax authorities duly executed documents and / or other information necessary for the implementation of tax control, as well as provide such information in an incomplete volume or in a distorted form entails the imposition administrative fine for citizens in the amount of 1 to 3 minimum wages, and for officials - from 3 to 5 minimum wages (Article 15.6 of the Administrative Code).

Questions for self-examination to topic 1: Audit in the financial control system of the Russian Federation

1 What is auditing (audit) in the Russian Federation?
2 What types of control do you know? Give a brief description of them.
3 What are the main goals and objectives of audit activities?
4 Define related audit services.
5 Name the normative documents that define the essence and requirements for the types of services associated with the audit.
6 Describe the main types of services related to the audit.
7 List the main criteria for a statutory audit.
8 Name the main economic entities subject to statutory audit in accordance with federal laws RF.
9 What is the responsibility of the audit organization for the unqualified conduct of the audit?
10 What is the responsibility of economic entities for evading a statutory audit?

Test to topic 1: Audit in the financial control system of the Russian Federation

1 Auditing activity is:
1) activities for the management of the company's finances and the analysis of economic activities;
2) entrepreneurial activity on independent verification of accounting and financial (accounting) statements of organizations and individual entrepreneurs;
3) activities for the preparation of financial and tax reporting, property and business accounting.
2 The main purpose of auditing in accordance with the Law "On Auditing" is:
1) the study of the results of economic activities and the development of proposals for their improvement;
2) preparation and completion of accounting (financial) statements, tax calculations, conducting business transactions in accounting;
3) expression of an opinion on the reliability of the financial (accounting) statements of the audited entities and the compliance of the accounting procedure with the legislation of the Russian Federation.
3 The external auditor should act in the interests of:
1) all users of financial statements;
2) an economic entity;
3) the state tax service.
4 For which economic entities the audit is mandatory:
1) joint stock company;
2) representation of a foreign legal entity;
3) an audit firm with assets exceeding 200,000 times the minimum wage.
5 What types of work the audit firm has the right to carry out under the concluded agreement with an economic entity:
1) provide assistance in accounting and conduct a statutory audit;
2) train the accounting personnel of an economic entity;
3) conduct consultations on tax legislation, prepare reports and conduct a statutory audit.
6 Which service is compatible with conducting a statutory audit of an economic entity:

2) legal advice;
3) restoration of accounting;
4) preparation of tax returns.
7 Can an audit firm, in the event of a statutory audit under an agreement with a customer, prepare an accounting policy for him:
1) yes;
2) no.
8 Which service is compatible with conducting a statutory audit of an economic entity:
1) maintaining accounting records;
2) restoration of accounting;
3) drawing up tax returns;
4) evaluation of investment projects.
9 Is the audit organization entitled to conduct a statutory audit and draw up tax returns under an agreement with a customer:
1) yes;
2) no.
10 Which service is incompatible with conducting a statutory audit of an economic entity:
1) maintaining accounting records;
2) consulting on accounting;
3) setting up accounting;
4) training of accounting personnel.
11 The audit organization made a decision to combine audit activities with the activities of a broker on the stock exchange. Is such a combination of activities possible:
1) possible;
2) it is impossible, since audit is an exclusive type of activity;
3) it is determined by the charter of the audit organization.
12 When concluding a contract for a mandatory audit, the inclusion in it of a clause on the mandatory issuance of an audit report:
1) it is necessary, because if this is not done, the auditor will not take responsibility and express a final opinion on the financial statements;
2) recommended, as otherwise the check may be useless;
3) does not make sense, since the auditor is obliged to do this in accordance with Russian auditing standards, although the subject of the contract is the audit of financial statements.
13 Economic entities with the organizational and legal form of an open joint stock company are subject to a mandatory annual audit:
1) with more than one hundred shareholders;
2) with more than a thousand shareholders;
3) regardless of the number of shareholders and the size of the authorized capital.
14 For organizations of what organizational and legal form is an annual audit of accounting (financial) statements required:
1) open joint stock company;
2) open and closed joint stock company;
3) closed joint stock company.
15 A statutory audit is carried out:
1) auditors who have qualification certificates of an auditor, under an employment contract with the audited organization;
2) auditors-entrepreneurs without forming a legal entity;
3) audit organizations.

Tags: lectures, audit in the financial control system of the Russian Federation, regulatory regulation of auditing, preparatory stage audit, interaction of the management and personnel of the audited economic entity with auditors during the audit, materiality in the audit

MINISTRY OF EDUCATION AND SCIENCE OF THE RUSSIAN FEDERATION

IRKUTSK STATE TECHNICAL UNIVERSITY

FACULTY OF BUSINESS AND MANAGEMENT

DEPARTMENT "FINANCE AND CREDIT"

LECTURE COURSE

FOR THE DISCIPLINE "Fundamentals of Auditing"

for students all forms of education

in the specialty - Finance and credit (080105)

The course of lectures was composed by: Ph.D. Associate Professor Khoroshikh T.A., Art. teacher Rostovtseva M.V.

Irkutsk - 2007

Lecture number 1

Topic 1. Theoretical basis audit.

The emergence, necessity and nature of the audit. Users of accounting information.

The concept, goals and principles of audit.

Audit types

Services of auditing organizations.

5. Audit procedures and methods of audit.

Q1. The emergence, necessity and nature of the audit. Users of accounting information.

The profession of an accountant-auditor appeared in the last century in joint-stock companies in Europe, when shareholders, creditors and tax authorities were forced to look for a third-party, independent specialist who could give an objective opinion on the financial condition of the enterprise.

In England, the Law on Mandatory Auditing was issued in 1862, in France - in 1867, in the USA - in 1937. Today, practically in all countries of the world with market economies, there is a public audit institution with its own legal and organizational infrastructure.

The development of the audit business took place during the world economic crisis of 1929-1933, when the massive bankruptcy of joint-stock companies and enterprises required a tightening of the procedure for approving their reports and balances by independent auditors.

The history of the audit shows that its development was caused by the separation of interests of the administration of enterprises and investors. The need for audit was caused by the following conditions:

Discrepancy between the interests of the compilers of information (administration) and users (owners of shares, creditors and others), leading to the compilation of biased information;

User-making wrong decisions based on biased information;

Users lack the necessary special knowledge to assess the reliability of the information received;

Lack of time and materials for users to assess the quality of information.

The difficulties encountered in assessing and obtaining the necessary information are eliminated by the audit service. Its duty is to express to the consumer of information an unbiased opinion of a specialist about the reliability of the reports submitted.

Over the past twenty-five years, audit and audit procedures have gone through three stages of development:

Confirmatory audit;

System-oriented audit;

Risk based audit.

In Russia in 1888, 1907 - 1912. and 1929 - 1930. Attempts were made to organize education and pass exams by auditors. Auditors in Russia were called sworn accountants, but they did not receive recognition.

At present, audit in Russia is a new direction of control over the financial and economic activities of organizations. The concept of audit is much broader, as it includes not only checking the reliability of financial indicators, but also the development of proposals for improving the economic activities of enterprises in order to rationalize costs and optimize taxes on a legal basis.

With the transition to market relations, audit in Russia appeared initially as a consulting audit. This was due to the following reasons:

The emergence of new regulations governing the organization and methodology of accounting, reporting, legal issues and taxation of enterprises;

Changes and additions to the current regulatory documents;

Difficulty understanding the current regulatory documents.

In the conditions of market relations, the information contained in the accounting (financial) statements of an economic entity may be of interest to various users: managers, shareholders, creditors, investors, suppliers, tax services, etc. Moreover, each of them pursues its own goals and has its own criteria for evaluating information. So for a manager, the most important are indicators that characterize the efficiency of business operations, the use of resources and the results of financial and economic activities. Owners and shareholders are interested in the profitability of the invested capital and the level of risk of their possible loss. For lenders, the most important thing is to assess the prospects for the return of invested funds. It is important for suppliers to assess the ability of an economic entity to timely pay for supplied products and services. Investors in capital investments need to assess the ability of the business entity to implement the facility construction program.

Question 2. Concept, objectives and principles of audit.

According to the Law on Auditing Activity dated 07.08.2001 No. 119-FZ, audit activity, audit is entrepreneurial activity for independent verification of accounting and financial (accounting) statements of organizations and individual entrepreneurs (hereinafter referred to as audited entities).

The purpose of the audit is to express an opinion on the reliability of the financial (accounting) statements of the audited entities and the compliance of the accounting procedure with the legislation of the Russian Federation.

An audit does not replace state control over the reliability of financial (accounting) statements, carried out in accordance with the legislation of the Russian Federation, by authorized government bodies.

Auditing organizations and individual auditors can provide audit-related services.

Auditing organizations and individual auditors are prohibited from engaging in any other entrepreneurial activity, except for conducting an audit and providing related services.

The goals and basic principles associated with the audit of financial (accounting) statements are determined by the Federal Rule (standard) of auditing in the Russian Federation No. 1. The definition of the audit objective in the standard is in line with the Auditing Act. At the same time, it is noted that the auditor expresses his opinion on the reliability of the financial (accounting) statements in all material respects. At the same time, the user should not accept this opinion either as an expression of confidence in the continuity of the audited entity's activities in the future, nor as confirmation of the effectiveness of the management of this entity. The auditor does not assess the observance of the interests of the owners (shareholders, participants) and the effectiveness of individual operations of the audited entity.

According to the standard, when performing his professional duties, the auditor must be guided by the norms established by the professional code of ethics, as well as by the following ethical principles: independence, honesty, objectivity, professional competence and integrity, confidentiality, professional behavior.

The auditor should exercise professional skepticism when planning and performing an audit. Demonstration of professional skepticism that the auditor is critical of the weight of the audit evidence obtained.

When planning and conducting an audit, the auditor should not assume that the management of the auditee is dishonest, but should not assume that the management is unconditionally honest. Oral and written representations from management are not a substitute for the auditor to obtain sufficient appropriate audit evidence to draw reasonable conclusions on which the auditor's opinion is based.

The standard also defines the scope of the audit. The term “audit scope” refers to audit procedures that are considered necessary to achieve the audit objectives in the circumstances.

The auditor is intended to provide reasonable assurance that the financial (accounting) statements considered as a whole do not contain material misstatements. The concept of reasonable assurance is a general approach related to the process of accumulating audit evidence necessary and sufficient to conclude that there is no material misstatement in the financial (accounting) statements. Reasonable assurance applies to the entire audit process.

The limitations inherent in the audit and affecting the possibility of detecting material misstatements of the financial (accounting) statements are due to the following reasons:

During the audit, sampling and testing are applied;

Any systems of accounting and internal control are deficient;

The overwhelming majority of audit evidence only provides arguments in support of a certain conclusion, and is not exhaustive.

While the auditor is responsible for the formulation and expression of an opinion on the reliability of the financial (accounting) statements, the responsibility for the preparation and presentation of the financial (accounting) statements rests with the management of the audited entity. An audit of financial (accounting) statements does not relieve the management of the audited entity from such responsibility.

Audit types

In the specialized literature, various characteristics are proposed for the species classification of an audit. The main ones are shown in the following table:

Species trait	Audit types
Type of activity of an economic entity	Bank audit Insurance companies audit Audit of exchanges, off-budget funds and investment institutions General audit
Audit purpose	Mandatory audit Proactive audit
Audit subject	Internal audit External audit
	Operational audit Compliance audit Reporting audit
Control procedure technique	Confirmatory audit System-oriented audit Risk based audit

Operational audit - verification of procedures and methods of operation of the economic system in order to assess productivity and efficiency. After completing such an audit, the manager is usually given recommendations for improving operations. Compliance audit- determination of compliance in the economic system with specific procedures and rules that are prescribed to personnel by higher management (administration). Reporting audit is performed to determine whether the consolidated financial statements meet certain criteria (generally accepted accounting principles).

Proactive audit carried out by the decision of the economic entity, mandatory- carried out in the cases established by the Law on Auditing Activity in the Russian Federation dated 07.08.2001 No. 119-FZ. Article 7 of the Law defines the statutory audit and the grounds for it. Mandatory audit - an annual mandatory audit of accounting and financial (accounting) statements of an organization or an individual entrepreneur.

Mandatory audit is carried out in cases where:

The organization has the organizational and legal form of an open joint stock company;

An organization is a credit institution, an insurance organization or a mutual insurance society, a commodity or stock exchange, an investment fund, a state off-budget fund, the source of which is the compulsory calculations provided for by the legislation of the Russian Federation, made by individuals and legal entities, a fund whose sources of funds are voluntary deductions from individuals and legal entities;

The volume of proceeds of an organization or an individual entrepreneur from the sale of products (performance of work, provision of services) for one year exceeds 500 thousand. Once the minimum wage established by the legislation of the Russian Federation or the amount of assets on the balance sheet exceeds at the end of the reporting year 200 thousand times the minimum wage established by the legislation of the Russian Federation;

An organization is a state unitary enterprise, a municipal unitary enterprise based on the right of economic management, if the financial indicators of its activities comply with subparagraph 3 of paragraph 1 of this article. For municipal unitary enterprises by the law of a constituent entity of the Russian Federation, financial indicators may be underestimated;

Mandatory audit in relation to these organizations or individual entrepreneurs is provided for by the Federal Law.

The statutory audit is carried out by an auditing organization. When conducting a statutory audit in organizations in whose authorized (share) capital the share of state ownership of a constituent entity of the Russian Federation is at least 25%, the conclusion of contracts for the provision of audit services should be carried out based on the results of an open tender. The procedure for holding such competitions is approved by the Government of the Russian Federation.

In theory and practice, internal and external audit are distinguished. The main difference between them is that internal audit is carried out within the economic entity itself at the request and initiative of its management and on its behalf, while external audit involves responsibility and accountability to groups that are external to the economic entity. Internal audit can be considered as part of the internal control system of an economic entity.

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