Контроль и ревизия. Ревизия основных средств. Контроль финансовой отчетности (самое важное)

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Контроль и ревизия. Ревизия основных средств. Контроль финансовой отчетности (самое важное)

Lecture notes, cheat sheets

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58. REVISION OF FIXED ASSETS. CONTROL OF FINANCIAL REPORTING

Checking operations with fixed assets consists of several parts:

1. Checking transactions of receipt of fixed assets. It is advisable to conduct a check in several directions. Ask your accountant to print a list of the five to ten highest value fixed asset receipts. If their value falls within the definition of a major transaction, check that the approval procedure is followed. Ask to see documents describing the procedure for completing the transaction: how the idea of purchasing came about, who was looking for a suitable object, what proposals were made, who made the final decision. See if the purchase price is suspicious (very high or very low), although in most cases this is difficult to assess. Check whether the right to the land plot under this object has been registered.

2. Checking transactions written off from the balance sheet of fixed assets. Ask to see a list of the five to ten most expensive fixed assets disposed of during the period. Select one or two objects and check the procedure for making decisions on disposal: reasons for disposal, who prepared the decision, who made the final decision, if sold, how the sale price was determined, if written off, then whether possible spare parts for use were taken into account, where this is documented etc.

3. Checking data on the value of fixed assets at the end of the year. A formal check of the consistency of accounting data and reporting data, as a rule, does not produce discrepancies. The best method is to conduct a repeat sample inventory. It should also be noted that there are practically no cases of physical absence of recorded fixed assets (shortage of fixed assets). The following situations are possible:

▪ the fixed asset is actually sold, but is recorded as owned. In this case, the best verification method is to request information from the state registration authorities about the legal owner of the property as of the reporting date;

▪ the fixed asset is replaced with a less expensive one. This is true in relation to computer equipment or furniture, but in most cases it is impossible to assess identity without the involvement of an expert.

Cases of the actual presence of unaccounted property are more common. The best control method is the following. The auditor, as a rule, is presented with a room with furniture and equipment; check the availability of the inventory number on this equipment and ask the accountant to print out a list of fixed assets listed behind this room. If the accounting program does not allow this, ask how they themselves conducted an inventory of these fixed assets, according to which system.

The second object of interest to you is the manager's office. Ask for an opportunity to inspect it. This is possible, since the manager often travels for negotiations, meetings, etc. Refusal can be regarded as opposition to verification. In advance, take in the accounting department a list of fixed assets that are listed behind the head's office.

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