Audit. Audit of current and other bank accounts. Goals and objectives of audit (lecture notes)

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Audit. Audit of current and other bank accounts. Goals and objectives of audit (lecture notes)

Lecture notes, cheat sheets

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Table of contents (expand)

Accepted abbreviations and abbreviations
Theoretical foundations of auditing. Prerequisites for the emergence of audit and its place in the control system in the Russian Federation (Control in a market economy. Prerequisites for the emergence and development of audit. Development of audit in Russia)
Regulation of auditing activities in the Russian Federation (The system of regulation of auditing activities. The concept of auditing. Legal norms of auditing. Goals, objectives and general principles of auditing. Ethics of the auditor)
Types of audit and conditions for carrying out audit activities (Types of audit. Mandatory audit. Audit-related services. Independence of auditors, audit organizations and individual auditors. Internal audit. Certification and licensing of audit activities. Quality control of audit organizations and individual auditors)
Standards in auditing activities (Basic principles of auditing standards. International auditing standards. Rules (standards) of auditing in the Russian Federation. In-house auditing standards)
Organization of audit (Stages of an audit. Audit planning. Overall audit plan. Audit program. Audit contract. Examination and evaluation of accounting and internal control systems during the audit. Applicability of the going concern assumption. Use of the work of an expert)
Audit risk and its relationship with materiality and audit sampling (Audit risk and its assessment. Assessment of materiality (materiality) in an audit. Audit sampling. The concept of affiliates in an audit)
Audit evidence: features of obtaining and reflecting in working documentation (Audit evidence. Documentation of the audit. Verification of compliance with the requirements of regulations. Actions of the auditor when errors and dishonesty are identified. Analytical procedures in auditing. Types and features of application. Features of the audit of estimated values. Audit in the conditions of computer data processing)
The final stage of the audit (Informing management about the results of the audit. Auditor's report. Date of signing of the audit report and reflection in it of events that occurred after the date of preparation and presentation of financial statements. Auditor confidentiality)
Audit methodology. Audit of accounting policies (Goals and objectives of the audit of accounting policies. Changes in accounting policies. Testing of individual provisions of accounting policies)
Audit of cash transactions (Goals and objectives of the audit of cash transactions. Program for checking cash transactions and testing the control system. Organization of the working stage of the audit. Checking the execution of primary documents. Checking registers and reporting forms. Features of computerized accounting of cash transactions. Checking the correctness, timeliness and completeness of cash receipts funds. Inventory of the cash register. Checking compliance with the cash balance limit in the cash register. Audit of collected amounts of money. Checking compliance with the procedure for using cash registers. Audit of cash documents in the cash register. Responsibility of the management of the audited entity for organizing the accounting of cash transactions)
Audit of current and other bank accounts. Audit goals and objectives (Audit of transactions on a current account. Checking the documentation of transactions on bank accounts. Checking the legality of writing off funds from a current account. Checking transactions on foreign currency accounts. Audit of transactions on other bank accounts)
Audit of fixed assets and intangible assets (Goals and objectives of the audit of fixed assets and intangible assets. Assessment of the accounting and internal control system. Plan and program for the audit of fixed assets and intangible assets. Methods for obtaining audit evidence. Acquisition of fixed assets. Leasing of fixed assets. Acquisition of equipment requiring installation. Modernization fixed assets. Reserve for repairs of fixed assets. Depreciation of fixed assets. Retirement of fixed assets. Acquisition of intangible assets. Depreciation of intangible assets. Audit procedures)
Audit of inventories (Goals and composition of an audit of inventories and accounting procedures. Criteria for obtaining audit evidence during an audit of inventories. Stages of collecting audit evidence. Methods for obtaining audit evidence. Planning an audit of inventories. Audit of the correctness of accounting for materials. Features of an audit in an organization accounting of inventories at accounting prices. Acquisition of inventories, the cost of which is expressed in foreign currency. Material costs. Transfer of raw materials for processing. Accounting for goods. Audit of production and sale of finished products. Inventory of inventories. Audit of reporting forms)
Audit of financial investments (Prerequisites for verification. Concept and classification of financial investments. Formation of initial cost. Audit of loans. Audit of bills. Audit of shares. Audit of contributions to the authorized capital of other organizations. Audit of information on financial investments in reporting)
Audit of expenses and income of an organization (Audit of expenses. Audit of work in progress accounting. Audit of settlements with customers and the procedure for determining revenue. Completed stages of work. Audit of financial results)
Audit of contractual relations (Purchase and sale agreements. Construction contracts. Donation agreements. Agency agreement. Agreements for research and development work. Loan agreements. Surety agreements)
Audit of payroll calculations (Goals and objectives of the audit of wage calculations. Preparation of working documentation for the audit. Methods for obtaining audit evidence. Planning the scope of the audit. Accrual and payment of wages. Deductions from wages. Audit of wage payments. Providing leave. Unified social tax, pension contributions fund and insurance fund. Payment of benefits for temporary disability. Dismissal of employees. Audit of other issues regarding accruals and payments to the organization’s personnel)
Audit of settlements with accountable persons (Goals and objectives of the audit of settlements with accountable persons. Audit of accounting of settlements with accountable persons. Payment for business trips)
Audit of authorized capital and settlements with founders (Goals and objectives of the audit of the authorized capital. Audit program of the authorized (share) capital. The influence of the organizational and legal form on the responsibility of the founders. Basic legislative aspects of regulating the formation of the authorized (share) capital. Issue of shares. Audit of settlements with founders. Payment of dividends)
Audit of income tax calculations (Goals and objectives of the audit. Recommendations on the organization and methodology for verifying income tax expenses and obligations to the budget at various stages of the audit. Risk assessment. Determination of permissible error (level of materiality). Analysis of accounting policies. Generalization and assessment of audit results. Classification of violations by income tax. Documentation of audit results)
Literature

Topic 11. AUDIT OF SETTLEMENT AND OTHER ACCOUNTS IN THE BANK

11.1. Goals and objectives of the audit

The purpose of the audit of operations on settlement, currency and other bank accounts is to form an opinion on the reliability of financial statements under the "Cash" section and the compliance of the applied methodology for accounting for cash on bank accounts with the regulatory documents in force in the Russian Federation.

The auditor, when checking transactions on bank accounts, must take into account the main regulatory documents governing the procedure for conducting transactions on settlement, currency and other accounts in banks and accounting for these transactions.

The following documents and accounting registers can serve as sources of information for verification:

1) Balance sheet (form No. 1);

2) Cash flow statement (Form No. 4);

3) tax reporting (information on ruble and foreign currency accounts);

4) registers of synthetic accounting of operations on bank accounts;

5) primary documents executing operations on bank accounts.

11.2. Audit of current account transactions

The auditor must determine how many settlement accounts the company has and check how analytical and synthetic accounting is maintained for each of them. At the same time, he establishes the number and numbers of accounts opened with banks; bank names. This data is needed to check the availability of bank statements for all accounts and synthetic accounting registers for each account.

The main information on the current account is contained in bank statements and primary documents attached to them. The auditor must check whether each transaction reflected in the extract is confirmed by the relevant primary documents.

Then the auditor determines the legal basis for the relationship between the organization and the bank, checks the compliance of the bank account agreement (contract for banking services) with the norms of the Civil Code.

When auditing current account transactions, you should pay attention to the following:

▪ compliance of the amounts in bank statements with the amounts indicated in the primary documents attached to them;

▪ completeness and accuracy of bank statements and documents accompanying them (the balance at the end of the period in the previous bank account statement must be equal to the balance at the beginning of the period in the next statement);

▪ correctness and completeness of crediting money deposited to the bank in cash;

▪ the presence of a bank stamp on primary documents attached to statements (if documents are identified without a bank stamp, a counter check is carried out at the request of the bank enterprise);

▪ validity of transfer of funds (presence of agreements, contracts);

▪ correctness of accounting entries for bank transactions.

The auditor must familiarize himself with the applicable form of accounting and the list of registers for accounting for funds in bank accounts; document flow (workflow schedule) of primary documents related to the accounting of funds in bank accounts; a list of persons who have been granted the right to sign monetary and settlement documents for operations on bank accounts.

11.3. Checking the documentation of transactions on bank accounts

Operations for crediting and debiting funds from bank accounts are drawn up with primary documents, the forms and procedure for filling which are established by the instructions of the Central Bank of the Russian Federation. These documents include:

1) bank statements with attached forms of settlement and payment documents approved by the bank: payment order, payment request, payment request-order, payment order, collection order (instruction), application for cash deposit to a current account, cash receipt form for cash withdrawal from a current account, an instruction for the obligatory sale of foreign currency, an instruction for the purchase of foreign currency, a resident's order for the transfer of the purchased currency, etc.;

2) primary documents attached to bank settlement documents and substantiating the legitimacy of the operations performed.

The auditor checks the correctness of paperwork, conducts an arithmetic check of documents and checks for the legality of business transactions performed on bank accounts.

The auditor should pay special attention to operations on indisputable (acceptance-free) debiting by the bank of funds. This is possible only on the basis of a court decision, a direct indication of the law, an agreement between the client and the bank.

Operations on bank accounts may be suspended in accordance with Art. 76 of the Tax Code to ensure a decision on the collection of a tax or fee. This restriction does not apply to payments, the order of execution of which, in accordance with the civil legislation of the Russian Federation, precedes the fulfillment of the obligation to pay taxes. Suspension of transactions on accounts is valid from the moment the bank receives the decision of the tax authority to suspend such transactions and until the cancellation of this decision.

When auditing transactions on a current account, the auditor also checks:

1) the procedure for maintaining accounting registers;

2) whether synthetic accounting registers are maintained for each settlement account opened with a bank, whether a consolidated register is compiled;

3) timeliness of reflection in the registers of synthetic accounting of operations on the movement of funds on the current account; whether entries are made in accounting registers for each bank statement;

4) the identity of the entries in the accounting registers and in the bank statement.

When checking the completeness of the transfer of funds transferred by buyers and customers in payment for the supplied inventories, work performed and services rendered, it is necessary to reconcile the debit entries of account 51 "Settlement account" with the credit entries of accounting registers for accounts 46 "Sales of products (works, services)" or 62 "Settlements with buyers and customers", 76 "Settlements with various debtors and creditors".

The receipt of funds from financial and credit organizations in the form of loans, the transfer of funds from other current accounts is checked by counter-checking the entries in the accounting registers for accounts 90 "Short-term bank loans", 92 "Long-term bank loans", sub-accounts to account 51 "Settlement account ", 55 "Special bank accounts", as well as reconciliation of statements and documents attached to them.

11.4. Checking the legality of debiting funds from a current account

The transfer of funds from the current account to pay off debts to suppliers should be analyzed in the audit section of settlement transactions on account 60 "Settlements with suppliers and contractors" in order to establish how realistic and reasonable they are used.

The auditor fixes the violations revealed during the check of operations on the current account in the working documentation and reflects in the report on the results of this section of the audit.

11.5. Checking operations on foreign currency accounts

The procedure for opening foreign currency accounts and carrying out operations on them is regulated by the currency legislation and regulations of the Central Bank of the Russian Federation.

In accordance with the current regulations, resident legal entities may have the following currency accounts:

1) transit - crediting the full amount of export foreign exchange earnings;

2) special transit - for accounting operations for the purchase of foreign currency for rubles in the foreign exchange market of the Russian Federation and its resale;

3) current - to account for funds remaining at the disposal of a legal entity after the mandatory sale of export earnings and other transactions on the account in accordance with the currency legislation;

4) a currency account abroad, which is opened by special permission of the Central Bank of the Russian Federation by organizations that have representative offices abroad. When carrying out foreign economic activity, organizations receive proceeds from the export of products (works, services), make payments for the import of goods, pay expenses for business trips abroad and other operations in foreign currency through foreign currency accounts opened in banks of the Russian Federation, as well as abroad.

When recording transactions on current and transit foreign currency accounts, it is necessary to be guided by the Instruction of the Central Bank of the Russian Federation dated 29.06.1992/02/104 No. XNUMX-XNUMXA "On the procedure for the mandatory sale by enterprises, associations, organizations of a part of foreign exchange earnings through authorized banks and operations in the domestic foreign exchange market of the Russian Federation".

It should be noted that the transit currency account mainly performs the functions of an account accumulating funds in foreign currency received in favor of the organization and controlling these receipts in terms of the organization's mandatory sale of foreign exchange earnings. The transit currency account performs the functions of a settlement account very limitedly.

Residents may have foreign currency accounts with banks outside the Russian Federation on terms and conditions established by the Central Bank of the Russian Federation. The movement of funds on these accounts is reflected in account 52, sub-account "Currency accounts abroad".

Audit of operations on foreign currency accounts is carried out separately for each foreign currency account opened with the bank, including abroad. It should be borne in mind that if a Russian organization has an account with a foreign bank opened under a license from the Central Bank of the Russian Federation, then this license does not serve as a basis for crediting foreign exchange earnings to it, therefore, a special permit must be obtained from the Central Bank of the Russian Federation for each crediting currency to an account in a foreign bank.

The sale of currency under currency law can be classified as mandatory, reverse or voluntary.

Mandatory sale includes the sale of residents' foreign exchange earnings from the export of goods (works, services, results of intellectual activity) credited to a transit foreign exchange account, as well as proceeds as advances and advance payments.

Operations for the sale of currency can be carried out from a transit currency account, from a special transit currency account and from a current currency account.

If the organization's account received foreign exchange earnings, then more recently, these operations should have been subject to an order for the mandatory sale of 10% of foreign exchange earnings, but today the mandatory sale of foreign currency earnings has been canceled (Instruction of the Bank of Russia dated March 29.03.2006, 1676 No. XNUMX-U). On a voluntary basis, the currency can be sold at any time convenient for the company. There is no standard form of an order for the voluntary sale of currency, therefore, each bank develops the form of this form independently. Cash (rubles) received from the sale of foreign currency, the bank credits to the ruble current account of the company.

11.6. Audit of operations on other bank accounts

Accounting records of operations related to settlements under a letter of credit, by checks, other payment documents are kept on account 55 "Special accounts in banks". The following sub-accounts can be opened for it: 55-1 "Letters of credit", 55-2 "Cheque books", 55-3 "Deposit accounts", etc.

If the enterprise conducts such calculations, then the auditor needs to check in the following areas:

1) the correctness and legality of the application of the letter of credit form of payment;

2) the correctness of documenting transactions paid by checks from limited and unlimited check books;

3) availability of certificates of deposit purchased from the bank (if there were such transactions);

4) completeness and correctness of documenting operations for the movement of funds for targeted financing received for the maintenance of social institutions (kindergarten, nursery, etc.) from parents and other sources;

5) provision of balance sheets and other necessary documents from structural units allocated for an independent balance sheet;

6) the correctness of the preparation of accounting entries.

The correspondence of the entries in the bank statements for account 55 operations is checked against the general ledger and order journal No. 3 or the corresponding account card (machinogram).

To confirm the reliability of financial statements, it is necessary to check the compliance of its indicators with synthetic and analytical accounting data and bank statements. This verification procedure is documented by the working documents of the auditor. When discrepancies are identified, it is necessary to show the amount of deviations and identify their causes.

The Statement of Cash Flow uses entries in the cash accounting accounts of account 50 "Cashier", 51 "Settlement accounts", 52 "Currency accounts", 55 "Special accounts in banks", 57 "Transfers on the way".

The balance sheet item "Cash" should reflect the cash balances on accounts 50, 51, 52, 55, 57.

Authors: Erofeeva V.A., Piskunov V.A., Bityukova T.A.

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>> Forward: Audit of fixed assets and intangible assets (Goals and objectives of the audit of fixed assets and intangible assets. Assessment of the accounting and internal control system. Plan and program for the audit of fixed assets and intangible assets. Methods for obtaining audit evidence. Acquisition of fixed assets. Leasing of fixed assets. Acquisition of equipment requiring installation. Modernization fixed assets. Reserve for repairs of fixed assets. Depreciation of fixed assets. Retirement of fixed assets. Acquisition of intangible assets. Depreciation of intangible assets. Audit procedures)

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