Control and audit. Types of analytical procedures (lecture notes)

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Control and audit. Types of analytical procedures (lecture notes)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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Table of contents (expand)

The concept and essence of control (History of the formation and development of control and audit. The essence, role and functions of control in management. Types of control. Subject area of inspections. The role and functions of control in economic management. Characteristics of effective control. Legal regulation of control at the present stage)
External and internal control (The relationship and differences between external and internal control. The relationship between internal management control and audit. The main tasks and directions of external financial control. Preparation and planning of external control. The procedure for carrying out control activities. Organization during control activities. The procedure for recording the results of control activities. Methods and sources of obtaining knowledge about the activities of an economic entity. Stages of internal control. Principles of the internal control system. Components of the internal control system. Classification of the internal control system. Goals and organization of internal control. Procedure for checking estimates (budgets), cost centers, responsibility and budgeting. Internal financial control and internal accounting of commercial organizations (enterprises))
Financial control (The concept of financial control. Functions of financial control. Components of financial control. Main tasks and directions of internal financial control. Control over financial investments. Basic requirements for the organization of intra-company financial control. Types and system of financial control supervisory bodies. Principles of organizing financial control and its classification. Organization and tasks of financial control in the Russian Federation. Classification of financial control)
Types of analytical procedures
Control in accounting (Assessment of the accounting system. Control during sales planning. Control over the implementation of sales plans. Methods for checking the accounting of production costs. Checking the accounting of intangible assets. Internal control and a system of measures to limit the risk of business activities)
The essence and concept of audit (Concept, purpose and objectives of the audit. Audit as a control tool. Organization of the audit. Grounds and frequency of the audit. Directions of the audit. Preparation and planning of the audit. Main stages and sequence of the audit. Documentation of the audit. Conclusions and proposals based on the audit materials. Implementation audit results. Preparatory stage of the audit. Rights and responsibilities of the audit commission. Audit of funds and transactions with them)
Audit activities (The essence and objectives of the audit. Contract in auditing activities. Statutory audit. Fundamental principles of auditing. Functions of management audit within the framework of marketing management. The concept of auditing activities. Audit risk, its relationship with the information base and materiality. Contents of preliminary audit planning. Preparation of a general plan and audit programs. Documentation of the audit. Financial control system and internal audit. Actions of the auditor when identifying facts of non-compliance by the audited organization with legislative and regulatory acts. Internal audit in the organization's management system. Audit of settlements with suppliers, contractors, debtors and creditors. Internal audit of the bank's activities)
Control over payments (Control over settlements with other debtors and creditors. Control over settlements for wages. Control over settlements for joint activities. Control over settlements with the budget and extra-budgetary income. Checking the accounting of fixed assets. Control of transactions for the receipt, disposal and depreciation of fixed assets. Control over accounting of inventory. Control over external settlement operations. Organization of audit work at facilities of different organizational and legal forms and forms of ownership. Control over transactions with imprest amounts. Control of cash transactions. Control and audit of settlement and credit transactions)

LECTURE No. 4. Types of analytical procedures

Economic and political transformations in the Russian Federation in the early 1990s. led to a significant restructuring of the system of control bodies of people's control, in connection with the new political power headed by the president, arose presidential control.

New financial control bodies appeared: the Federal Treasury, the Russian Ministry of Taxes and Duties, the Accounts Chamber, the Federal Tax Police Service, etc. The structure of the Russian Ministry of Finance was reorganized, and its functions changed. arose audit control. New forms have been acquired public financial control.

Financial control can be conditionally classified according to different criteria. In particular, according to subjects of distinguish: state control (presidential, control of representative bodies of power and local self-government, control of executive authorities, control of financial and credit bodies) and departmental (structural divisions of ministries, state committees and other government bodies); non-state (internal on-farm (intracompany, corporate) and external audit (independent, non-departmental).

According to the sphere of financial activity, there are: budgetary, tax, currency, credit, insurance, investment control and control over the money supply.

According to the form of financial control, it is divided into: preliminary, current (operational) and subsequent.

Preliminary financial control is carried out before financial transactions and is of great importance for the prevention of financial irregularities. An example of such control at the macro level is the process of drawing up and approving budgets of all levels and financial plans, extra-budgetary funds based on the assessment of the validity of the distribution of GDP and the development of macroeconomic indicators for the development of the country's economy. At the micro level, this is the process of developing financial plans and estimates, loan and cash applications, financial sections of business plans, drawing up forecast balance sheets, as well as memorandums of association, joint venture agreements, etc.

Current (operational) financial control is carried out at the time of monetary transactions, financial transactions, loans, etc.

Subsequent financial control, carried out by analyzing and auditing financial and accounting records to assess the financial performance of business entities, comparing financial plans and forecasts with the results of evaluating the effectiveness of the implementation of the proposed financial strategy, comparing financial costs with forecasted ones, etc.

According to the methods of conducting, i.e., methods and methods for exercising financial control, there are: inspections, surveys, supervision, analysis of financial activities, observation (monitoring), audits.

The survey, unlike verification, covers a wider range of financial and economic indicators of the surveyed economic entity to determine its financial condition and possible development prospects.

Supervision is carried out by regulatory authorities over business entities that have received a license for a particular type of financial activity, and involves their compliance with established rules and regulations. Non-compliance with regulations, leading to the risk of bankruptcy and infringement of the interests of clients, entails the revocation of the license.

The analysis of financial activity as a kind of financial control involves a detailed study of periodic or annual financial and accounting statements with the aim of a general assessment of the results of financial activity, an assessment of the financial condition and provision of equity capital, and the effectiveness of its use.

Author: Ivanova E.L.

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