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31. OBJECTIVES OF THE AUDIT
Audit tasks in an enlarged form represent the implementation of the main goals of the three types of control.
Purpose of conformity testing - checking the compliance of the system with the specified parameters.
Purpose of financial reporting controls (as a special type of control for compliance) - checking the compliance of the procedure for compiling financial statements with accounting regulations and other regulatory acts.
Purpose of performance monitoring - assessment of the economy, rationality and productivity of the adopted management decisions and their implementation.
Within the framework of each of the listed main tasks, smaller (private) tasks, or subtasks of the 1st, 2nd levels, etc., can be implemented.
When assigning a control measure, any of the general or particular tasks can be set, and in principle, the statement of the task determines the type of control measure: survey, tax audit, thematic audit, etc.
A full due diligence audit can cover all objectives for all operations of an organization. If such an audit is necessary and there are arguments to support its effectiveness even at significant costs, then such a wide range of tasks can be included in the audit program.
However, in most cases, verification in all areas is not immediately carried out for many reasons. First, the conceptual basis of control is a "risk-based approach" and it is unlikely that all activities of an organization are at increased risk. Secondly, modern financial control is based mainly on the selective method of verification, as the most effective method of control.
Taking into account these factors, a comprehensive comprehensive audit with a study of all aspects of the organization's activities is carried out mainly in the course of a forensic accounting examination, when, based on the materials of the examination, the court determines the amount of damage and the legality of the actions of the organization's employees.
The correct definition of the tasks of the control measure largely determines the quality of control. A typical mistake is the appointment of a control measure with vague, general tasks, which in most cases also leads to a low quality of control.
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