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Table of contents

1. Accepted abbreviations and abbreviations
2. 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)
3. 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)
4. 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)
5. Standards in auditing activities (Basic principles of auditing standards. International auditing standards. Rules (standards) of auditing in the Russian Federation. In-house auditing standards)
6. 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)
7. 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)
8. 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)
9. 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)
10. 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)
11. 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)
12. 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)
13. 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)
14. 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)
15. 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)
16. 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)
17. Audit of contractual relations (Purchase and sale agreements. Construction contracts. Donation agreements. Agency agreement. Agreements for research and development work. Loan agreements. Surety agreements)
18. 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)
19. 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)
20. 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)
21. 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)
22. Literature

Accepted abbreviations and abbreviations

GC - Civil Code of the Russian Federation: part one dated November 30.11.1994, 51 No. 26.01.1996-FZ; part two dated January 14, XNUMX No. XNUMX-FZ

Audit Law - Federal Law of August 07.08.2001, 119 No. XNUMX-FZ "On Auditing"

IPB Russia - Institute of Professional Accountants and Auditors of Russia

CAO - Code of the Russian Federation on Administrative Offenses dated December 30.12.2001, 195 No. 3-FXNUMX

CODE - computer data processing

ICAP - International Committee on Auditing Practices

MPZ - inventories

MSA - International Auditing Standards

MFB - International Federation of Accountants

VAT - value added tax

NK - Tax Code of the Russian Federation: part one dated July 31.07.1998, 146 No. 05.08.2000-FZ; part two dated 117 No. XNUMX-FZ

JSC - public corporation

Ltd. - limited liability company

OS - fixed assets

PBU - Regulation on accounting

PMAP - Regulations on international audit practice

TC - Labor Code of the Russian Federation dated December 30.12.2001, 197 No. XNUMX-FZ

Federal Auditing Standards - Federal rules (standards) of audit activity (approved by Decree of the Government of the Russian Federation of September 23.09.2002, 696 No. XNUMX)

Section I. THEORETICAL BASIS OF AUDIT

Topic 1. PREREQUISITES FOR AUDIT AND ITS PLACE IN THE CONTROL SYSTEM IN THE RUSSIAN FEDERATION

1.1. Control in a market economy

In the Russian Federation, the following structure of regulatory authorities has developed:

▪ state control and budgetary bodies that exercise control over the receipt and expenditure of funds from budgets of all levels;

▪ departmental control and audit services that control the financial and economic activities of subordinate enterprises and organizations;

▪ internal control services organized directly at enterprises (audit commission, internal audit service, inventory commissions, etc.);

▪ audit firms and auditors carrying out inspections and providing other audit services on contractual terms with economic entities.

Audit, acting as a method of implementing non-departmental independent financial control, does not replace state financial control, however, its main subjects are, first of all, commercial enterprises and organizations that are not included in the system of ministries and departments available in the country and for this reason are not covered by departmental control.

The economic reform has led to a change in the dominant form of ownership, which is increasingly passing into the hands of private entrepreneurs and non-state economic entities. Accordingly, this causes a significant narrowing of the scope of state financial control and the need for a commensurate pace of reforms in the organization of new ways inherent in market relations to streamline the financial activities of non-state enterprises and organizations, the historically developed form of which is considered independent audit. Practice has shown that state financial control bodies and independent auditors, audit firms are by no means competitors, but on the contrary, a qualified and conscientious audit can be a significant help in the work of state financial control bodies and have a significant positive impact on improving the efficiency of their work, on the completeness and quality performance of their functions and tasks assigned to them.

In accordance with the Law on Auditing Activities, an audit does not replace state control over the reliability of financial (accounting) statements carried out by authorized state authorities, in particular the Accounts Chamber of the Russian Federation (Article 1). At the same time, the Law on Auditing Activities does not prevent their cooperation, and in some cases implies it. First of all, this is expressed in a clear definition of the list of conditions when a mandatory independent audit is carried out. This list includes credit organizations, state non-budgetary funds, state unitary enterprises.

In recent years, there has been a connection of audit organizations to the verification of the financial statements of state unitary enterprises. At the same time, theoretically, verification of the reliability of the financial statements of these structures (and related services) can be implemented in at least three ways: with the help of audit organizations, through audits and in a combined way (for example, on the basis of an annual mandatory audit with periodic - say, every three year - audits that significantly use the results of audits).

Most Russian economists distinguish the following differences when comparing audit and revision.

1.2. Prerequisites for the emergence and development of audit

England is considered the historical birthplace of auditing, where, in connection with the powerful development of market relations, a series of laws on companies were issued in 1844, according to which their Boards were obliged to invite a special person at least once a year to check the accounts and report to shareholders. In Edinburgh (1854), an institute arose that united accountants and auditors. The latter set as their goal an examination of financial statements with the expression of an opinion on their objectivity, thus taking upon themselves a certain share of responsibility in the event of possible losses for clients. In 1862, a law regulating auditing was adopted in England, and later laws on compulsory auditing came into force in other countries (for example, in France in 1867). In 1880 the Institute of Chartered Accountants was founded in England and Wales. Currently, in England, auditors are any specialists in the field of monitoring the reliability of financial statements, including those working in government agencies.

In Germany, in 1870, an addition to the law on joint-stock companies obliged the supervisory boards of these companies to check the main reporting forms and report on the results of the check at general meetings of shareholders, which laid the legislative foundation for the emergence of an audit. In 1932, the Institute of Auditors was established in Germany, which existed until 1941. After the end of World War II, the Institute of Auditors was formed in Düsseldorf, which in 1954 was renamed the Institute of Auditors of Germany, which currently includes more than 6000 auditors and 700 auditors. organizations.

Until the beginning of the 1917th century. an independent audit in the United States was based on the English model, which provides for detailed studies of balance sheet data. The first official regulation on auditing in the United States was published in 1937 and was devoted to the "audit of balance sheets". Legislatively, the audit in the United States has been approved since XNUMX, and two years later its standardization began.

Since the beginning of the XX century. audits and forensic examination of audit firms are becoming commonplace in economically developed countries.

The need for auditor services arose in connection with:

▪ with the need to provide high-quality information for making decisions on investment and cooperation;

▪ eliminating biased presentation of information by the enterprise to interested users;

▪ the need to obtain special knowledge to verify information due to the complexity of accounting and reporting;

▪ lack of information users having the necessary access to it to assess its quality.

Given the historical features of the development of audit, we can distinguish the following stages.

1. Until the end of the 1940s. The audit mainly consisted in checking the documentation confirming the movement of cash transactions, as well as their correct grouping in the financial statements. This audit can be called confirmatory.

2. After 1949, independent auditors began to pay more attention to internal control issues in companies, believing that with an effective internal control system, the likelihood of errors would be negligible, and financial reports would be more complete and accurate. Auditing firms have become more involved in consulting activities than directly auditing. Such an audit is called a system-oriented audit.

3. The third stage of audit development is focused on the possible risk when conducting audits or when consulting; at the same time, the audit, which, based on the conditions of the client's business, is carried out selectively (basically, the audit is carried out where the risk of error or fraud can be maximum) is called risk-based.

1.3. Development of audit in Russia

The Encyclopedic Dictionary of Brockhaus and Efron says that "in Russia the title of auditor was introduced by Peter I", and also that "by its nature, the position of an auditor combines the features of the positions of a clerk, secretary and prosecutor." The German model of building an audit was borrowed. However, during this period of time there was no internal need for the emergence and development of audit, and introduced by directive, it did not receive development and gradually lost its original purpose.

In 1889, an attempt was made to create an institution of auditors, but this would have been possible if there were trained personnel and social needs, and in Russia for this period there was not a sufficient number of qualified accountants. In addition, accountants were afraid of exams. Also, everyone demanded permission for membership in the institute and a license to work on the basis of either a diploma from an educational institution or work experience, in addition, requirements were put forward for auditors to comply with moral ethics. Attempts to create an audit institution in Russia were made as early as 1912 and 1928, but they all turned out to be unrealized.

The question of the need for audit in modern Russia arose from the beginning of market transformations. The first audit firms in Russia appeared in 1987, often formed with the participation of foreign capital. Many of them operate to this day and are among the largest audit firms and associations. The need for their appearance was caused by the most powerful development of foreign trade relations. To expand trade, capital was required, and in the conditions of the instability of Russia's monetary policy and galloping inflation, this was possible only with the involvement of foreign capital. His involvement required guarantees of return, and, consequently, an independent assessment of the activities of entrepreneurial structures. For the Russian Federation, the prerequisite for the emergence of an audit is also the need for a reliable assessment of property (primarily fixed assets) in terms of inflation and bringing its value in line with the market. The usual way to obtain reliable information is to conduct an independent audit. Thus, the need for audit has become an objective reality.

The first draft law on auditing activities was developed in 1992, but as a result of the political crisis in Russia it was not adopted. By Decree of the President of the Russian Federation of December 22.12.1993, 2263 No. 1987, the Temporary Rules for Auditing Activities in the Russian Federation were adopted. This is the first legislative document regulating auditing activities in Russia, it acted as a law, but even its name “Temporary Rules” emphasized that this was a document of a transitional period, it was assumed that this document would be temporary and would not last long, but in fact these Rules existed for almost eight years without amendments or changes. Prior to this, in the period from 1993 to XNUMX, auditing in Russia was in its infancy without a legislative framework.

The law regulating the activities of audit firms appeared on August 7, 2001 ("On Auditing").

The development and formation of audit in Russia has gone through several stages.

The first stage (1987-1993) was characterized, on the one hand, by the directive nature of the creation of audit organizations (1987 - the creation of the first audit organization "Interaudit"), on the other hand, by the spontaneous nature of the emergence of audit activity (training, disorderly issuance of the first certificates and licenses in the period 1990-1993).

The second stage (December 1993 before the adoption of the Law on Auditing - August 2001) can be characterized as the period of formation of the Russian audit, during which the Provisional Rules and the first rules (standards) of audit in the Russian Federation, developed by the Central Attestation licensed audit commission (CALAC) of the Ministry of Finance of Russia (37 rules (standards) of audit activity were developed and approved, as well as an audit methodology, which formed the methodological basis of the Russian audit), and a number of other documents.

During this period, active work began on attestation of auditors and licensing of audit activities, audit public associations and audit firms were created, work began on conducting mandatory audits and providing audit-related services. For the period 1994-2001. CALAC of the Ministry of Finance of Russia issued 23 licenses to licensees (including 600 audit organizations and 14 individual auditors). The number of valid licenses was about 700, including 8900 for general audit. During the same period, the CALAC of the Ministry of Finance of Russia approved for the issuance of almost 8900 auditor qualification certificates. A working structure of auditors and audit firms was formed.

The third stage of audit activity in Russia began after the adoption of the Audit Law. Its adoption confirmed the final formation of audit in Russia, made it possible to adopt a number of legal acts to regulate audit activities, to take a step towards integrating Russian audit into the international audit system.

Currently, the most pressing issues in auditing are the quality of its implementation and the related problems of appropriate training of audit personnel. The changes to the law “On Auditing Activities” are aimed at a fundamentally new mechanism for certifying professional auditors for Russia; their adoption will mark the beginning of a new, fourth stage of auditing in Russia.

Topic 2. REGULATION OF AUDITING ACTIVITIES IN THE RUSSIAN FEDERATION

2.1. Audit regulation system

Since the results of the audit are the basis of many economic decisions, the audit is quite tightly regulated in all countries. At present, the following system of regulation of audit activity is in force in Russia:

1) Law on audit activity;

2) other federal laws and other regulatory legal acts on the audit, issued in accordance with the Auditing Law and not contradicting it;

3) Federal auditing standards;

4) standards of self-regulatory audit associations;

5) internal auditing standards.

Thus, the Audit Law is the dominant document in the system of direct regulation of audit activities. It defines the concepts of audit, the auditor, the legal aspects of organization and functioning, the criteria for mandatory audits, the types of services related to the audit, the place of standards and norms of professional ethics, the rights and obligations of auditors and audited entities, the main aspects of quality control in the audit, certification issues for the right to carry out audit activities, the role of self-regulatory audit associations, etc. Compliance with it is mandatory for all auditors and audit organizations, as well as for persons subject to mandatory audit.

Federal auditing standards are mandatory for audit organizations, individual auditors, as well as for audited entities, with the exception of provisions that indicate that they are advisory in nature, they are approved by the Government of the Russian Federation. These standards have been developed in Russia in accordance with the International Standards on Auditing (ISA), in order to strengthen the practical orientation and uniformity of the audit, methods are being developed on certain issues, for example, on checking inventories or on checking income tax calculations, which, unlike standards are purely advisory in nature. The development of these standards in Russia is not yet fully completed, so at present 23 rules have been adopted.

Self-regulatory audit associations have the right to develop their own standards and methodological materials on the application of federal standards, where they may establish additional requirements for auditing, but they should not contradict federal standards and the Law on Auditing.

Auditing organizations and individual auditors have the right to establish their own rules (standards) of audit activity, which cannot contradict the federal rules (standards) of audit activity and cannot establish requirements lower than those specified in federal standards.

In addition, auditors, audit organizations, self-regulatory audit associations and their employees are required to comply with the code of professional ethics.

2.2. The concept of audit. Audit Legal

Auditing activities (audit) - entrepreneurial activities for conducting audits and providing related services. This means that all audit firms are created for the purpose of making a profit (in accordance with the Civil Code), like any other business structures.

Audit (audit check) is an independent check of the financial (accounting) statements of organizations. The independence of auditors and audit firms during the audit is a key principle for conducting an audit (the law contains a fairly detailed explanation of this concept).

The object of the audit can be not only organizations, but also individual entrepreneurs, since the law does not provide for differences between them when highlighting the criteria for mandatory audit.

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 state authorities.

An auditor is an individual who has an auditor's qualification certificate. At the same time, it is necessary to have an impeccable business reputation, confirmed by the recommendations of at least three auditors, and no criminal record. He 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 entrepreneur operating without forming a legal entity (individual auditor). An individual auditor has the right to conduct an audit, in addition to a statutory audit, and to provide audit-related services.

An audit organization is a commercial organization that performs audits and provides audit-related services.

Audit organizations and individual auditors are prohibited from engaging in any other business activity, except for auditing and providing related services.

An audit organization may be created in any organizational and legal form, with the exception of an open joint stock company.

At least 50% of the personnel of the audit organization must be citizens of the Russian Federation permanently residing on the territory of the Russian Federation, and if the head of the audit organization is a foreign citizen, at least 75%. A person who is the sole executive body of a commercial organization must be an auditor.

The staff of the audit organization must consist of at least five auditors. As conceived by the legislators, this norm, together with the requirement that a mandatory audit can only be carried out by an audit organization, should serve to improve the quality of the audit. It is assumed that a greater number of qualified specialists in the audit firm will contribute to the overall improvement in the quality of its work.

Auditors and audit organizations must be members of one of the self-regulatory associations and be included in the Unified Register of Auditors and Audit Firms. Only after all these conditions are met, it is possible to carry out audit activities and provide related services related to the expression of an opinion, otherwise the activity is considered illegal, with all the ensuing consequences. The same rule applies to all commercial organizations that use the word "audit" and all derivatives of the word "audit" in their name.

Auditing organizations and individual auditors are required to maintain secrecy about the transactions of audited entities and individuals who were provided with services related to the audit.

Audit 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.

2.3. Goals, objectives and general principles of the audit

When considering the objectives and general principles of an audit, it is necessary to be guided not only by the provisions of the Law on Auditing Activities, but also by standards.

Federal Auditing Standard No. 1 "Purpose and Basic Principles of the Audit" establishes uniform goals and basic principles for conducting an audit of financial (accounting) statements, which the audit organization and the individual auditor must comply with. The standard addresses the following main issues:

▪ purpose of the audit;

▪ general audit principles;

▪ scope of audit;

▪ reasonable assurance;

▪ responsibility for financial (accounting) reporting.

An audit of financial statements is intended to enable the auditor to express an opinion on whether the financial statements are prepared, in all material respects, in accordance with established financial reporting frameworks. When expressing its opinion, the auditor in accordance with paragraph 2 of ISA No. 200 "gives a true and fair view" or "represents objectively and in all material respects", which is equivalent.

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. This definition is given both in the law and in the standard, it is complete and exhaustive. Based on this, the purpose of the audit is not to find errors and expose fraudulent actions.

Although the auditor's opinion may enhance the credibility of the financial statements, the user should not take this opinion as an expression of confidence in the viability of the entity being audited in the future, nor as evidence of the effective conduct of business by the management of this entity.

At the same time, it should be recalled that reliability is understood as the degree of accuracy of financial (accounting) reporting data, which allows the user of these reporting, based on its data, to draw correct conclusions about the results of economic activity, the financial and property position of the audited entities and make informed decisions based on these conclusions.

The tasks of the auditor in the audit process are: to assess the level of organization of accounting and internal control, the qualifications of accounting personnel, the quality of processing accounting documentation, the correctness and legality of making accounting records reflecting the financial and economic activities of the enterprise and its final results; assisting the administration of the enterprise by developing recommendations for eliminating shortcomings and violations that affected the financial results and the reliability of reporting indicators; based on the study of past facts and the current state of affairs at the enterprise, orientation of its administration to those future events that can affect economic activity and final results (perspective analysis); providing meaningful and accurate information to the client on all unclear issues that arise in the process of fulfilling the contract for the provision of audit services.

In the performance of his professional duties, the auditor must be guided by ethical principles, which are considered: independence, honesty, objectivity, professional competence and integrity, confidentiality, professional behavior.

The auditor is required to conduct an audit in accordance with the Federal Auditing Standards, which contain the basic requirements, procedures and guidelines, as well as advisory provisions and examples.

The independence of the audit organization from the economic entity and its management should be considered from the point of view of both formal and actual circumstances; it is determined in accordance with the legislation of the Russian Federation and federal rules (standards) of auditing.

Honesty and objectivity in dealing with an economic entity lies in the fact that the basis for the conclusions, recommendations and conclusions of an audit organization can only be a sufficient amount of necessary information. The audit organization should not allow bias, prejudice or pressure exerted on it to affect communication with the management of an economic entity and, consequently, the objectivity of its conclusions, recommendations and conclusions.

The audit organization should not provide services, provide recommendations or proposals for assistance in their implementation, which go beyond its authority in accordance with the existing licenses to carry out auditing and related activities or professional competence.

The audit organization is obliged to keep the confidentiality of information received during communication with the management of the economic entity, without time limit and regardless of the continuation or termination of relations with him. The audit organization is obliged to ensure the safety of confidential information of the economic entity and not to disclose it without the consent of the management of the economic entity, except as otherwise provided by the legislation of the Russian Federation.

Professional behavior in dealing with the management of an economic entity consists in observing the priority of public interests and the reputation of the profession as a whole. The audit organization should refrain from any actions that may discredit it, undermine respect and trust in the audit profession.

From the general list of ethical principles, the concepts of independence and confidentiality of the information received are regulated by law, therefore, they can be called fundamental, and the rest of the principles - general ethical.

In the course of planning and performing an audit, professional skepticism should be exercised, as there may be circumstances that entail a material misstatement of the financial statements.

The manifestation of professional skepticism means that the auditor critically evaluates the substance of the obtained audit evidence and carefully examines those of them that contradict any documents or statements of management or call into question the reliability of such documents or statements. In particular, professional skepticism should be exercised during the audit to reduce the risk of overlooking unusual circumstances, not to make unjustified generalizations in drawing conclusions, not to use erroneous assumptions in determining the nature, timing and extent of audit procedures, and in evaluating their results.

The term “audit scope” refers to the audit procedures deemed necessary to achieve the objective and should be determined by the auditor, taking into account the requirements of relevant laws and regulations and, if necessary, the terms of the audit engagements and reporting requirements.

An audit is designed to provide reasonable assurance that the financial statements, taken as a whole, are free from material misstatement. The concept of sufficient assurance is related to the collection of audit evidence necessary for the auditor to conclude that there are no material misstatements in the financial statements, taken as a whole. The concept of sufficient assurance applies to the entire audit process.

The federal standard (in accordance with ISA) provides the following types of assurances:

▪ absolute (rarely happens - on obvious issues);

▪ reasonable (used in auditing);

▪ moderate (used for review checks);

▪ low (no confidence - applied when compiling and executing agreed upon procedures).

While the auditor is responsible for formulating and expressing an opinion on the reliability of the financial (accounting) statements, the responsibility for the preparation and presentation of financial (accounting) statements lies with the management of the entity being audited. An audit of financial (accounting) statements does not release the management of the audited entity from such responsibility.

2.4. Auditor ethics

In Russia, the Code of Ethics for Auditors was first approved by the General Meeting of the Audit Chamber of Russia on December 4, 1996. The main requirements of the Code of Ethics for Auditors are defined by the International Federation of Accountants. They serve as the basis for the development of ethical requirements, detailed rules and standards of conduct for auditors in each country where an audit is carried out, and they were the basis for the codes of ethics developed in Russia for both auditors and professional accountants. In accordance with these requirements, the auditor must have certain professional knowledge and skills, recognize the importance and profess a high standard of moral values ​​in his work, be aware of his duty and obligations to society, and comply with established rules of conduct.

Compliance with these requirements is mandatory for both the auditor and the professional accountant employed by the organization. At the same time, a number of additional ethical requirements are imposed on external auditors. These include compliance with the conditions of independence, additional requirements for professional competence, regulation of the procedure for paying for audit services, relations with accountants of audited organizations and other auditors, features of advertising and service offerings. To strengthen the emphasis on these provisions and make them binding, they are included in the text of the Law on Auditing.

The Code contains 15 articles.

Article 1. "General Provisions" summarizes the ethical standards of professional conduct of independent auditors, united by the Audit Chamber of Russia; moral, moral values ​​are determined, which the audit community asserts in its environment.

Article 2. "Generally accepted moral norms and principles" confirms the obligation of auditors to adhere to universal moral rules and moral norms in their actions and decisions, to live and work in good conscience.

Article 3. "Public interest" provides that the external auditor is obliged to act in the interests of all users of financial statements, and not just the customer of audit services; he must be convinced that the protected interests arose on legal and fair grounds, otherwise he is obliged to refuse to protect them.

Article 4. "Objectivity and attentiveness of the auditor" emphasizes that objectivity for conclusions is possible only with a sufficient amount of required information. Auditors are required to objectively consider all emerging situations and real facts. Pressure on the auditor in any form is unacceptable. Auditors must be attentive and serious about their duties, comply with approved auditing standards, adequately plan and control work, and check subordinate specialists.

Article 5. "Independence of the auditor" implies that in an opinion or other document drawn up as a result of the rendered professional services, the auditor is obliged to consciously declare his independence in relation to the client both on formal and actual circumstances.

Article 6. "Professional competence of the auditor" indicates that the auditor is obliged to refrain from providing services that go beyond his professional competence, and also do not correspond to his qualification certificate. To assist the auditor in solving specific tasks, an audit firm can attract competent specialists.

Article 7 "Client Confidential Information" provides for the auditor's obligation to keep confidential information about clients' affairs obtained in the course of providing professional services, indefinitely and regardless of the continuation or termination of direct relations with them. Confidential information should not be used by the auditor for his own benefit or for the benefit of any third party, or to the detriment of the client.

Article 8. "Tax relations" states that in the provision of professional taxation services, the auditor must be guided by the interests of the client, with mandatory compliance with tax laws. The auditor should not promote falsifications in order to evade the client from paying taxes and deceive the tax service. All recommendations and advice in the field of taxation must be submitted in writing.

Article 9 "Professional fees" provides that the auditor's professional fees must comply with professional ethics and be paid depending on the volume and quality of professional services. The auditor is obliged to discuss in advance with the client and fix in writing the conditions and procedure for such payment.

Article 10. "Relations between auditors" suggests that auditors should treat other auditors kindly, refrain from unreasonable criticism of their activities and other conscious actions that cause damage to colleagues in the profession.

Article 11. "Relations of employees with an audit firm" calls on employees to be loyal to their audit firm, they must contribute to its authority and further development with all their activities, maintain friendly business relations with both the firm's employees and the client.

Article 12 "Public information and advertising" specifies that advertising must be informative, direct and honest, excluding the possibility of deceiving and misleading potential customers.

Article 13 "Auditor's inconsistent actions" notes that engaging in any activity prohibited by practicing auditors in accordance with the law is considered as incompatible actions of the auditor, violating the law and professional ethical standards.

Article 14. "Audit services in other states" emphasizes that when conducting an audit, the auditor is obliged to know and apply in his work the international auditing standards and standards in force in the state in which he carries out his professional activities.

Article 15. "Compliance of this Code with international standards" says that the standards of professional conduct determined by the Code of Ethics are based on international ethical standards developed by the International Federation of Accountants.

Professional ethics in communication with the management of an economic entity is defined by the Federal Auditing Standard "Communication with the management of an economic entity", the tasks of which are:

1) determination of the basic requirements for communication between the audit organization and the management of the economic entity;

2) determination of the features of communication of the audit organization with the management of the economic entity at various stages of the audit;

3) determination of the features of communication between the audit organization and the management of the economic entity on accounting and internal control issues.

The Institute of Professional Accountants and Auditors of Russia by the decision of the Presidential Council on September 24, 2003 approved the Code of Ethics for members of the IPA of Russia, which entered into force in January 2004. This Code was prepared on the basis of and taking into account all the requirements of the IFAC Code of Ethics with the maximum preservation of its conceptual approaches and sections.

The Code recognizes that the main goal of the accounting and auditing profession is the activity of specialists at the highest professional level, ensuring the quality of the performance of tasks and the satisfaction of public interests. Achieving this goal requires four basic requirements:

1) reliability - society needs reliable information and information systems;

2) professionalism - clients, employers and other stakeholders are in need of specialists who are professionals in the field of accounting and auditing;

3) high quality of services - all services provided by a professional accountant (auditor) must meet the highest quality standards;

4) confidence - persons using the services of professional accountants (auditors) must be sure that the services are provided in accordance with the professional ethical standards governing them.

The objectives and fundamental principles of the Code are of a general nature and are not aimed at solving ethical problems that arise before a professional accountant (auditor) in each specific case. However, the Code contains some recommendations for the practical achievement of goals and compliance with fundamental principles in a number of typical situations encountered in accounting and auditing practice, for example, the Appendix to this Code contains 24 articles on recommendations for applying the principle of independence to specific situations.

At the present stage of development, the IPA of Russia and the Audit Chamber of Russia are undoubted leaders in the development of the audit system and public regulation of the norms of this activity.

Topic 3. TYPES OF AUDIT AND CONDITIONS FOR THE IMPLEMENTATION OF AUDIT ACTIVITIES

3.1. Types of audit

A mandatory audit is carried out in cases expressly established by law or on behalf of state bodies. The volume and procedure for conducting a mandatory audit are regulated by legislative norms.

An initiative (voluntary) audit is carried out by decision of an economic entity on the basis of an agreement with an audit firm or an individual auditor. The nature and extent of such verification is determined by the client.

Internal audit is an integral and important element of managerial control. Some types of internal audit are called managerial or production audits, are carried out by auditors working in the enterprise, therefore, do not fully meet the independence criteria.

An external audit is carried out by third-party audit organizations (legal entities) or independent auditors on the basis of contracts (orders) with organizations. A mandatory audit is always carried out only by external auditors, taking into account the requirements of the Law on Auditing Activities, the result of the work is the preparation of an opinion. This type of audit is often referred to as a financial audit, as it involves assessing the reliability of financial statements.

A compliance audit is designed to verify that an enterprise is complying with specific rules, regulations, laws, instructions, contractual obligations that affect the results of its operations. In the process of this audit, the compliance of the enterprise's activities with its charter is established, the correctness of the calculation of wages, the validity of the calculation and payment of taxes, etc. are subject to verification. Compliance checks require the establishment of appropriate criteria for assessing their implementation. They can be legislative requirements, GOSTs, agreed conditions (for example, delivery times), etc.

Operational audit is used to check the procedures and methods of functioning of the enterprise in order to assess the effectiveness of management. It is advisable to use it to check the implementation of business plans, estimates, various targeted programs, the work of personnel, etc. Sometimes such an audit is called an audit of the efficiency of an enterprise or administration.

A special audit is a check of specific issues of the activity of an economic entity in terms of compliance with certain procedures, norms and rules (for example, the correctness of tax reporting, the use of special funds, etc.).

The initial audit is characterized by the fact that for a given client it is carried out for the first time by a given team of auditors. This significantly increases the risk and complexity of the audit, since initially the auditors do not have the necessary information about the specifics of the client's activities, its internal control system, etc.

Agreed (recurring) audit is carried out by this auditor or audit firm regularly (repeatedly). Such cooperation is convenient for both auditors and the client, who receives highly qualified, comprehensive assistance and assessment based on many years of long-term cooperation.

From the point of view of historical development, the audit is divided into confirmatory audit, system-oriented audit and risk-based audit.

3.2. Mandatory audit

Mandatory audit is an annual mandatory audit of the organization's financial (accounting) statements.

Mandatory audit is carried out in cases where:

1) according to the organizational and legal form, the organization is an open joint stock company;

2) by type of activity, the organization is:

a) a credit institution;

b) an insurance organization or a mutual insurance company;

c) commodity or stock exchange;

d) an investment institution or fund;

e) a state extra-budgetary fund, the source of the formation of funds of which is the mandatory deductions provided for by the legislation of the Russian Federation, made by individuals and legal entities;

f) a fund whose sources of funds are voluntary contributions from individuals and legal entities;

3) in terms of financial performance: the amount of revenue of an organization or an individual entrepreneur from the sale of products (performance of work, provision of services) for one year exceeds 500 times the minimum wage established by the legislation of the Russian Federation or the amount of balance sheet assets exceeds 000 at the end of the reporting year times the minimum wage established by the legislation of the Russian Federation;

4) an organization - a state unitary enterprise or a municipal unitary enterprise, if the financial indicators of its activities comply with subpara. 3 p. 1 art. 7 of the Audit Law. For municipal unitary enterprises, the law of the constituent entity of the Russian Federation may lower financial indicators.

Mandatory audit is carried out only by audit organizations. When it is carried out in organizations in whose authorized (share) capitals the share of state property or property 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, unless otherwise provided by federal law.

The audit of audited entities, whose financial (accounting) documentation contains information constituting a state secret, is carried out in accordance with the legislation of the Russian Federation.

When conducting a statutory audit, an audit organization is obliged to insure the risk of liability for breach of contract.

3.3. Services related to the audit

Currently, the audit activity includes two components: the actual audit (mandatory audit) and audit-related services. At the same time, the latter in audit organizations are beginning to occupy an increasing share in terms of the number, types and volumes of services performed.

To perform audit-related services, performers require professional competence in the field of audit, accounting, economic analysis, taxation, business law and economics.

In accordance with the Law on Auditing Activities, audit-related services are understood to be services other than audit, related to the expression in the established form of an independent opinion on the information of organizations, as well as the following services:

▪ establishment, restoration and maintenance of accounting records, preparation of financial (accounting) statements, accounting consulting;

▪ tax consulting;

▪ analysis of the financial and economic activities of organizations and individual entrepreneurs;

▪ economic, financial and management consulting, including those related to the reorganization and privatization of organizations;

▪ legal advice, as well as representation in judicial and tax authorities in tax and customs disputes;

▪ automation of accounting and implementation of information technologies;

▪ assessment of property value, assessment of enterprises as property complexes, as well as business risks;

▪ development and analysis of investment projects, drawing up business plans;

▪ carrying out procedures agreed with the audited entity for verifying financial information, compiling financial and (or) other information about the organization;

▪ carrying out research and experimental work in the field related to auditing activities, as well as disseminating their results, including on paper and electronic media;

▪ training, in accordance with the procedure established by the legislation of the Russian Federation, for specialists in areas related to auditing activities;

▪ provision of other services related to auditing activities.

Auditing organizations and individual auditors are not entitled to carry out activities that entail a conflict of interest with the audited entity.

All of the above audit-related services can be conditionally divided into three groups: control services, action services and consulting services. Control services imply that the auditor controls the correctness and validity of the reflection of the facts of economic activity, the calculation of tax payments, etc. Action services include, for example, the development of investment projects, accounting, its maintenance and restoration.

With the development of market relations, consulting services become an urgent need, which is explained by the fact that the market economy provides for the formation of a healthy competitive environment, and the competitive advantages of such firms lie in innovation and qualified advice. If at the first stages of economic development the demand and variety of consulting services were negligible, today the range of consulting services has expanded significantly, representing an external financial audit, accounting services, educational, legal, recruiting services, information technology, engineering services, project and investment consulting, crisis management services, etc. The demand for consulting services is growing not only in Russia, but all over the world. Currently, the following trends prevail in the consulting services market in Russia:

▪ growth in the volume of consulting activities and an increase in the number of employees of consulting firms;

▪ emergence of new types, forms of consulting and markets for consulting services;

▪ improving the quality of consulting services;

▪ increase in the number of client companies.

All audit-related services in relation to the statutory audit are divided into "compatible" and "incompatible". When providing compatible services, they can be performed simultaneously or immediately before the mandatory inspection; it is also allowed to include compatible services in the general list of works under the mandatory annual audit contract.

When providing incompatible audit services, it should be taken into account that a statutory audit cannot be carried out by audit organizations and individual auditors who, during the three years immediately preceding the audit, provided services for the restoration and maintenance of accounting, as well as for the preparation of financial (accounting) statements by individuals and legal entities. This is considered a violation of the principle of independence, since in this case the auditor is involved in the reporting. In this case, the responsibility for compliance with the principle of independence rests with the audit organization. Methods for checking the independence of specialists of the audit organization are developed by the audit organization independently.

The services accompanying the audit must be provided by the audit organization to the economic entity with special conscientiousness and thoroughness. When providing services related to the audit, where possible, the audit organization should follow the procedure for determining the level of materiality based on the baseline system.

When providing services related to the audit, the audit organization must comply with the procedure for determining the level of materiality based on a system of baselines.

When auditors provide related services, an economic entity is responsible for:

▪ for compliance with current legislation;

▪ completeness and legal execution of documents;

▪ accuracy, reliability and timeliness of providing documents, information, information, as well as any restrictions on the ability of the audit organization to perform its duties.

The audit organization is responsible for the quality and timing of the provision of related audit services in accordance with the current legislation, as well as in accordance with the terms of the contract concluded between the audit organization and the economic entity. It is released from liability for the quality of the services provided for the audit and the timing of their performance in case of providing false or incomplete information, as well as in case of a delay in its provision by the economic entity.

The result of the provision of services related to the audit are documented results in the form of calculations, consultations, written primary documents, accounting registers, reporting and certificates, etc. In addition, the audit organization can issue written information to the management and (or) owner of the economic entity based on the results provision of audit-related services.

3.4. Independence of auditors, audit firms and individual auditors

The independence of the auditor is one of the principles of the audit, which consists in the obligatory absence of the auditor, when forming his opinion, of financial, property, family or any other interest in the audited economic entity, exceeding the relationship under the contract for the provision of audit services, as well as any dependence on third party, owners or managers of the audit organization in which the auditor works.

In an opinion or other document drawn up as a result of the rendered professional services, the auditor is obliged to consciously and without any reservations declare his independence in relation to the client, both for formal and factual circumstances.

The requirements for the auditor in terms of ensuring independence and the criteria for determining that the auditor is not dependent are regulated by the regulatory framework for auditing. In accordance with the Law on Auditing Activities (Article 12), an audit cannot be carried out:

1) auditors who are founders (participants) of audited entities, their managers, accountants and other persons responsible for organizing and maintaining accounting records and drawing up financial (accounting) statements;

2) auditors who are close relatives of the founders (participants) of the audited entities, their officials, accountants and other persons responsible for the organization and maintenance of accounting and preparation of financial (accounting) statements (parents, spouses, brothers, sisters, children, as well as brothers, sisters, parents and children of spouses);

3) audit organizations, the heads and other officials of which are founders (participants) of the audited entities, their officials, accountants and other persons responsible for the organization and maintenance of accounting and preparation of financial (accounting) statements;

4) audit organizations, the heads and other officials of which are closely related (parents, spouses, brothers, sisters, children, as well as brothers, sisters, parents and children of spouses) with the founders (participants) of the audited entities, their officials, accountants and other persons responsible for the organization and maintenance of accounting and preparation of financial (accounting) statements;

5) by audit firms in relation to audited entities that are their founders (participants), in relation to audited entities for which these audit firms are founders (participants), in relation to subsidiaries, branches and representative offices of these audited entities, as well as in relation to organizations, having common founders (participants) with this audit organization;

6) audit firms and individual auditors who, during the three years immediately preceding the audit, provided services for the restoration and maintenance of accounting records, as well as for the preparation of financial (accounting) statements to individuals and legal entities - in relation to these persons.

If we systematize the above grounds, we can conclude that when conducting a mandatory audit, auditors should not be dependent on the audited enterprise:

▪ financial (material);

▪ related (with persons responsible for organizing and maintaining accounting records and preparing financial statements);

▪ official.

The procedure for payment and the amount of remuneration to audit organizations and individual auditors for conducting an audit (including a mandatory audit) and providing related services are determined by contracts for the provision of audit services and cannot be made dependent on the fulfillment of any requirements of the audited entities on the content of the conclusions that can be made as a result of the audit.

Thus, the auditor is obliged to carefully monitor that the principle of independence is not violated at all stages of the audit, and take the necessary measures to eliminate the circumstances that have arisen. In the event that facts are established that indicate a loss of independence and the impossibility of eliminating the relevant circumstances, further audit should be abandoned.

3.5. Internal audit

The organization of in-house audit does not apply to issues regulated by the state legislation. This is the prerogative of the enterprise itself. Meanwhile, not only the safety of the assets of the economic entity, but also the efficiency of the enterprise itself depends on the efficiency of its functioning. Internal audit is able to improve the management system.

The implementation of internal audit functions may be assigned to special services or individual auditors on the staff of an economic entity, audit commissions (auditors), third-party organizations and (or) external auditors involved for the purposes of internal audit. The internal audit service can be created as an independent division of the management apparatus, while it reports only to the head of the organization. The international experience of the organization also offers the possibility of taking internal audit out of the enterprise with subordination to the board of directors or founders.

Internal audit is a system of control organized by an economic entity in the interests of its owners and regulated by its internal documents over compliance with the established accounting procedure and the reliability of the internal control system. Internal audit structures include auditors, audit commissions, internal auditors or groups of internal auditors appointed by the owners of an economic entity. A distinctive feature of this definition is that, in addition to internal auditors or groups of internal auditors, internal audit institutions also include auditors and audit commissions.

To determine the place of internal audit in the control system, it is necessary to determine its structure. The most significant factors can be identified from the elements of the internal audit system.

The subjects of control are specialists who carry out internal audit. The higher their professional qualification and objectivity, the higher the results of control. Requirements for the knowledge and skills of internal audit employees include: knowledge of the features of the functioning of the enterprise, management structure; possession of equipment and methods of conducting inspections; knowledge of the law; the ability to correctly determine the range of issues subject to internal and external verification; the ability to generalize the results of individual checks to develop a set of recommendations.

The object of internal audit is a managed link in the organization's management system that perceives the control impact. Objects are selected in accordance with the objectives.

The method of internal audit of an organization is a way to achieve a goal, which is characterized by the use of both general scientific methodological methods for studying objects of control (analysis, synthesis, induction, deduction, analogy, modeling, abstraction, reduction, experiment, etc.), and its own empirical methodological methods ( inventory, control measurements of work, control launches of equipment, formal and arithmetic checks, counter check, countdown method, method of comparing homogeneous facts, internal investigation, examinations of various types, logical check, scanning, written and oral interviews, etc.), as well as specific techniques of related economic sciences (techniques of economic analysis, economic and mathematical methods, methods of probability theory and mathematical statistics).

To achieve this goal, internal audit should be aimed at solving the following tasks:

1) assessment of the economic efficiency of the organization's activities as a whole, and each of its management structures and responsibility centers;

2) forecasting the economic development of the organization for the future, taking into account the influence of all possible external and internal factors;

3) minimization of expenses and losses in relations with the budget, other state structures and partners.

Depending on the specifics of the organization, the features of its organizational structure and the tasks set by the administration, the tasks of a particular audit service may be different. In practice, internal auditors should be guided by the requirements of the norms of the legislation of the Russian Federation, as well as constituent documents, orders for the enterprise (if included in its structure) and job descriptions.

The motivation for organizing internal audit in large and medium-sized enterprises are:

▪ increasing complexity of the legislative system;

▪ desire to manage financial situations;

▪ strengthening the efficiency of management of the activities of the enterprise itself and its structural divisions;

▪ control over the rational use of resources;

▪ fulfillment of obligations;

▪ efficiency of the accounting system.

3.6. Certification and licensing of audit activities

Attestation for the right to carry out audit activities (hereinafter referred to as certification) is a test of the qualifications of individuals wishing to engage in audit activities. Certification is carried out in the form of a qualifying exam. Persons who have successfully passed the qualification exam are issued an auditor qualification certificate. The qualification certificate of the auditor is issued without limitation of its validity period.

Mandatory requirements for applicants for an auditor's qualification certificate:

1) impeccable reputation (with a possible submission of at least two recommendations);

2) the presence of a document on higher economic and (or) legal education received in Russian institutions of higher professional education with state accreditation, or the presence of a document on higher economic and (or) legal education received in an educational institution of a foreign state, and a certificate of equivalence the specified document to the Russian document of the state standard on higher economic and (or) legal education (it is possible to "entry" into the profession with higher education in any specialty);

3) work experience in an economic or legal specialty for at least three years (at the time of certification, practical experience must be at least three years, of which 90 weeks must be in an audit, including 45 weeks in a mandatory audit).

Subject to all the requirements and passing the training, the applicant passes the testing procedure (exam). Additional requirements for applicants for obtaining a qualification certificate of an auditor, as well as the procedure for attestation for the right to carry out auditing activities, the list of documents submitted along with an application for admission to certification, the number and types of certificates, qualification exam programs and the procedure for passing them are determined by the authorized federal body ( certification committee).

Each auditor with a qualification certificate is obliged, within each calendar year, starting from the year following the year of obtaining the certificate, to undergo training in advanced training programs approved by the authorized federal body in the amount of 40 hours annually (120 hours for three consecutive calendar years, but not less than 20 hours per year). Education under advanced training programs is carried out by educational and methodological centers or other persons licensed to carry out educational activities (self-regulating audit associations).

The decision to cancel the qualification certificate is taken by the court (at the request of the self-regulatory audit association, of which the auditor is a member) and can be appealed by the auditor within three months from the date of receipt of the decision.

The qualification certificate of the auditor is canceled in cases where:

1) the fact of obtaining an auditor's qualification certificate using false documents has been established;

2) a court verdict has entered into force, providing for punishment in the form of deprivation of the right to engage in audit activities for a certain period;

3) the fact of non-compliance with the requirements of Art. 8 "Auditor secrecy" and Art. 12 "Independence of auditors, audit organizations and individual auditors" of the Law on audit activity;

4) the fact of a systematic violation by the auditor during the audit of the requirements established by the legislation of the Russian Federation or federal rules (standards) of audit activity has been established;

5) the fact of signing by the auditor of the auditor's report without carrying out an audit is established;

6) the fact is established that the auditor does not carry out audit activities for two calendar years in a row;

7) the auditor violates the requirement to undergo training in advanced training programs;

8) the auditor evades participation in the external quality control system.

A person whose qualification certificate has been canceled (in this case, the auditor is excluded from the Unified Register of Auditors and Audit Firms), on the grounds provided for in paragraphs 1, 3-5, is not entitled to re-apply for a certificate for the right to carry out audit activities within three years from the date of the decision to cancel the auditor's qualification certificate.

3.7. Quality control of the work of audit organizations and individual auditors

Audit quality control is divided into internal and external. At the same time, it is necessary to take into account the requirements of the Federal Auditing Standard No. 7 "Internal Audit Quality Control" and the recommendations of the Institute of Professional Accountants and Auditors of Russia on the quality control procedure for audit services.

Auditing organizations and individual auditors are required to establish and comply with the rules for internal quality control of their audits. The requirements for these rules are regulated by the federal rules (standards) of auditing.

The general requirements for the internal audit quality control system, which are established by the audit organization (individual auditor), should provide for the following:

1) employees of the audit organization (individual auditor) must adhere to the principles of independence, honesty, objectivity and confidentiality, as well as the norms of professional conduct;

2) employees of the audit organization (individual auditor) must have the appropriate skills and adhere to them, as well as have the professional competence necessary to perform duties with due diligence;

3) the audit is entrusted to employees with special training and experience necessary in these conditions;

4) it is necessary to adequately direct the work of employees, to exercise ongoing control at all levels to ensure that the work performed meets the appropriate level of quality;

5) if necessary, consultations are held with specialists with appropriate knowledge;

6) it is necessary to constantly work with both potential and existing customers. When deciding whether to conclude an agreement or continue cooperation, one must proceed from considerations of the independence of the audit organization (individual auditor), its ability to provide services properly and the honesty of the management of the audited entity;

7) it is necessary to conduct regular monitoring of the adequacy and effectiveness of the principles and specific procedures for internal audit quality control.

During the audit, employees performing control functions should:

1) monitor the progress of the audit in order to determine:

a) whether the auditor's assistants have the necessary skills and competence to perform the tasks assigned to them;

b) whether the auditor's assistants understand the audit instructions;

c) whether the work is carried out in accordance with the general plan and program of the audit;

2) receive information and consider important issues in the field of accounting and auditing that arise during the audit, assess their importance and make appropriate changes to the general plan and audit program;

Subject to timely verification:

1) general plan and audit program.

2) assessment of inherent and internal control risk, including the results of tests of internal controls and amendments (if any) made to the overall audit plan and program as a result of such assessment;

3) documenting the audit evidence obtained as a result of substantive procedures and the conclusions drawn from them, including the results of consultations;

4) financial (accounting) statements, proposed amendments and an auditor's report.

A review of the audit work may also include (particularly in the case of large due diligence audits) a requirement that employees not involved in the audit perform additional control procedures prior to issuing the auditor's report.

The system for checking the quality of the work of individual auditors and audit organizations by external inspectors is established by the authorized federal body, which can conduct such checks either on its own or delegate the right to conduct such checks to accredited professional audit associations in relation to members of these associations.

The IPB of Russia provides for determining the procedure for training a quality controller, in accordance with which an applicant who is a member of the IPB of Russia, if he has an auditor’s certificate, has completed advanced training in a timely manner, has at least five years of practical experience, and has a positive reference, can take a special training course and, after the testing procedure, receive certificate. Persons who have received a quality controller certificate are entered in the Register of quality controllers of the ISP of Russia.

The audit may be carried out once every three years, but not more than once a year, if there are grounds. The group of controllers can include no more than three people, one of whom (at least) must have a certificate of the controller. All controllers must be independent of the organization being audited. The final document is the conclusion based on the results of the audit. Controllers do not have the right to check the financial documents of the audit firm being audited and attach copies of documents to their documents (to maintain confidentiality).

If, during an external audit of the quality of work of audit organizations or individual auditors, facts of systematic violations by audit organizations or individual auditors of the requirements of regulatory legal acts or Federal Auditing Standards are revealed, the persons guilty of such violations may be held liable under the Law on Auditing Activities, up to and including cancellation they have an auditor qualification certificate.

The system for checking the quality of the work of individual auditors and audit organizations by external inspectors was established by the Ministry of Finance of the Russian Federation (the authorized federal body), which can conduct such checks on its own, and delegate the right to conduct such checks to accredited professional audit associations in relation to members of these associations.

Ministry of Finance of the Russian Federation in 2001-2002. 644 inspections of audit organizations were organized that did not submit a report in accordance with order No. 69n. Based on the results of the inspections, taking into account the identified various violations of licensing requirements and conditions, as well as the quality of work, warnings were sent to audit organizations and auditors in 487 cases, including in ten cases notifications were sent to law enforcement agencies.

All these control measures are provided in order to strengthen the responsibility of auditors and audit firms, increase the confidence in the results of the audit on the part of users.

Topic 4. STANDARDS IN AUDITING ACTIVITIES

4.1. Basic principles of auditing standards

In the system of normative regulation of audit activities, the rules (standards) of audit occupy an important place. The implementation of their requirements in practice serves as a certain guarantee of the quality of the check.

The main principles of auditing standards are expressed as follows:

1) auditing standards formulate common basic requirements that define the regulatory requirements for the quality and reliability of the audit and provide a certain level of assurance of the results of the audit if they are observed. As economic conditions change, auditing standards are subject to periodic revision to best meet the needs of users of financial statements;

2) on the basis of audit standards, training programs for the training of auditors, as well as uniform requirements for conducting exams for the right to engage in audit activities, are formed;

3) auditing standards serve as the basis for proving in court the quality of the audit and determining the degree of responsibility of auditors;

4) standards define the general approach to the audit, the scope of the audit, the types of auditors' reports, methodology issues, as well as basic principles.

The meaning of the standards is that they:

▪ ensure high quality of audit;

▪ promote the introduction of new scientific achievements into audit practice;

▪ help users understand the audit process;

▪ create a public image of the profession;

▪ eliminate state control;

▪ help the auditor negotiate with the client;

▪ provide connection between individual elements of the audit process.

4.2. International Auditing Standards

The creation of a system of international economic relations necessitated the harmonization of audit standards at the international level, which made it possible to expand the circle of users of financial statements, facilitated the comparison of financial performance of companies from different countries and made it possible to assess the competence and professionalism of audit firms.

International Standards on Auditing (ISA) is a reference book for professional auditors, which contains a description of generally accepted auditing methods. Russian practicing auditors can apply international standards in their activities, which will contribute to further integration into the international audit community.

Several organizations are involved in the development of professional requirements at the international level, including the International Federation of Accountants (IFAC), established in 1977. The Committee on International Auditing Practices (CMAP), which is a standing committee of the IFAC Council, is directly involved in auditing standards.

International Standards on Auditing issued by the Committee should:

▪ promote the development of the profession in those countries where the level of professionalism is lower than the global one;

▪ to unify, as far as possible, the approach to auditing internationally.

Status of International Standards on Auditing. ISAs are intended to be used in the audit of financial statements, as well as in the audit of other information and the provision of related services. ISAs contain the basic principles and necessary procedures, relevant guidelines, presented in the form of explanatory and other material. The full text of the ISA, including the explanatory and other material contained therein, must be taken into account in order to ensure that the basic principles and required procedures are understood and correctly applied, along with the relevant guidance. And only in exceptional cases the auditor can deviate from ISA. At the same time, he must be prepared to argue for such a retreat.

The ISAs do not override local regulations governing the audit of financial or other information in any given country. To the extent that ISAs comply with local regulations in a particular case, an audit of financial or other information in a particular country, conducted in accordance with local regulations, should comply with ISAs. In the event that local regulations differ or conflict with the ISAs in a particular case, IFAC member organizations must comply with the membership obligations stipulated in the IFAC Constitution in relation to these ISAs.

Status of the Regulations on International Auditing Practice. The Regulations on International Auditing Practices (PIAP) are developed to provide practical assistance to auditors in meeting standards and ensuring good auditing practice.

The approved text of a draft for review, standard or regulation is the text published by IFAC in English. IFAC member organizations are entitled to translate these documents after obtaining the appropriate permission from IFAC for the purpose of publishing them in the language of their country. Translation of documents is carried out at the expense of member organizations and must include the name of the organization that prepared it, as well as a reference to the fact that this document is a translation of the approved text.

The first edition of the ISA in Russian was an important step in the transition of Russian auditors to international standards. However, this edition was full of errors and inaccuracies, which caused criticism from those Russian auditors who were familiar with the English-language source. The ISA 1999 edition in Russian was still undergoing the editing process when the International Federation of Accountants IFAC released the 2000 edition in English. This circumstance created new objective prerequisites for the discrepancy between the latest version of ISA and Russian developments based on the official Russian translation of 1999.

In the ISA 2001 edition, a number of documents differ significantly from the 1999 edition, in addition, new standards have appeared by this time. The text of the new translation was taken by Russian developers as a basis for the preparation of new Russian federal auditing standards.

In the ISA, all standards are collected in 10 semantic sections: introduction; responsibilities; planning; internal control system; audit evidence; using the results of the work of third parties; audit findings and opinions; special areas of audit; accompanying services; provisions on international audit practice.

4.3. Rules (standards) of audit activity in the Russian Federation

At the end of 1993, for the first time in Russia, the Temporary Rules for Auditing Activities in the Russian Federation were adopted, in accordance with which the Commission on Auditing Activities under the President of the Russian Federation gradually approved 38 rules (standards) that regulated the activities of auditors in detail.

After the adoption of the Law on Auditing Activities, a legal vacuum formed for some time, since decisions on some issues were already dictated by the Law. This problem was resolved by the publication of the Federal Auditing Standards, which define the requirements for the procedure for conducting an audit or providing related services.

Federal auditing standards are divided into:

1) federal rules (standards) of audit activity;

2) internal rules (standards) of auditing activities in force in professional audit associations, as well as rules (standards) of auditing activities of audit organizations and individual auditors.

All federal rules (standards) in Russia can be classified into three groups:

1) Russian rules (standards) of audit activity, similar in content to the relevant ISAs;

2) Russian rules (standards) of auditing activities that differ from ISAs, of which they are analogues, in some significant respects;

3) Russian rules (standards) of audit activity and ISAs that have no mutual analogues.

As of August 1, 2006, 23 federal auditing standards have been developed and adopted in the Russian Federation:

No. 1 "The purpose and basic principles of the audit of financial (accounting) statements";

No. 2 "Audit Documentation";

No. 3 "Audit Planning";

No. 4 "Materiality in audit";

No. 5 "Audit evidence";

No. 6 "Auditor's report on financial (accounting) statements".

No. 7 "Internal audit quality control";

No. 8 "Assessment of audit risks and internal control carried out by the audited entity";

No. 9 "Affiliates";

No. 10 "Events after the reporting date";

No. 11 "Applicability of the Assumption of Business Continuity of the Audited Entity".

No. 12 "Agreement on the terms of the audit";

No. 13 "Responsibilities of the auditor to address errors and fraud during the audit";

No. 14 "Taking into account the requirements of regulatory legal acts of the Russian Federation during the audit";

No. 15 "Understanding the activities of the audited entity";

No. 16 "Auditor sample";

No. 17 "Obtaining audit evidence in specific cases";

No. 18 "Obtaining by the auditor of confirming information from external sources";

No. 19 "Features of the first check of the audited entity";

No. 20 "Analytical procedures";

No. 21 "Features of the audit of estimated values";

No. 22 "Disclosure of information obtained as a result of the audit to the management of the audited entity and representatives of its owner";

No. 23 "Statements and clarifications of the management of the audited entity".

This list of standards is not final, as the development of standards in Russia continues, and at the same time the process of making changes and additions to already adopted standards is underway. The adoption at the national level of auditing standards that comply with ISAs is an important step towards reforming Russian auditing towards integration with international requirements.

4.4. Intracompany auditing standards

Federal auditing standards and the provisions of the Law on Auditing have given greater independence to auditors in solving certain practical problems of auditing. Many issues can be settled by the auditors on their own and fixed by them in the internal audit rules.

Internal audit standards define uniform requirements for the procedure for conducting an audit and its quality, create, if they are observed, an additional level of guarantee of the audit results. Intra-company auditing standards can be divided into two groups: standards of self-regulatory audit associations (accredited) and intra-company standards proper.

Self-regulatory audit associations have the right to develop their own standards and methodological materials on the application of federal standards, where they may establish additional requirements for auditing, but they should not contradict federal auditing standards and the Law on Auditing.

Auditing organizations and individual auditors have the right to establish their own rules (standards) of audit activity, which cannot contradict the federal rules of audit activity and cannot establish requirements lower than those specified in federal standards. These may include instructions adopted and approved by the organization, methodological developments, manuals and other documents that reveal the internal approaches of the company to the audit.

Internal standards according to their purpose can be combined into the following groups:

1) standards containing general provisions on audit;

2) establishing the procedure for conducting an audit;

3) establishing the procedure for the formation of conclusions and conclusions of auditors;

4) specialized standards;

5) establishing the procedure for providing audit-related services;

6) on education and training of personnel.

Topic 5. AUDIT ORGANIZATION

5.1. Stages of an audit

In general, the stages of the audit can be presented in the following form.

Planning (preliminary stage):

1) getting to know the client:

a) understanding the activities of an economic entity;

b) testing the accounting system;

c) testing of the internal control system;

2) calculation of the level of materiality and acceptable audit risk;

3) work on the organization of the audit;

4) development and coordination of the general plan and audit program;

5) signing an audit contract.

Collection of audit evidence (working stage):

1) obtaining appropriate audit evidence;

2) conducting a detailed set of internal control tests;

3) substantive procedures:

a) detailed tests;

b) analytical procedures;

c) evaluation of forecast information;

4) clarification of the acceptable level of audit risk, materiality;

5) documenting audit procedures.

Completion of the audit (final stage):

1) completion of the preparation of working documentation;

2) informing the management of the audited entity about the identified violations in the accounting system;

3) calculation of the degree of influence of the distortions identified and uncorrected by the audited entity on the reliability of the financial (accounting) statements;

4) formation of the auditor's opinion and preparation of final documents:

a) preparing a report for the audited entity;

b) preparation and presentation of the auditor's report;

5) signing the act of acceptance and delivery of the work performed.

5.2. Audit planning

Audit planning issues are discussed in the Federal Auditing Standards, which apply primarily to audits that the auditor has been conducting for more than a year in relation to this audited entity. The purpose of the Federal Auditing Standards is to establish general requirements and provide guidance for planning an audit of financial statements. To conduct an audit during the first year, the auditor is required to expand the planning process to include matters other than those specified in this rule (standard).

The auditor's planning of his work helps ensure that important areas of the audit are given the necessary attention, so that potential problems are identified and the work is performed at optimal cost, quality and in a timely manner. Planning allows you to effectively distribute the work among the members of the group of specialists involved in the audit, as well as coordinate such work.

The time spent on planning work depends on the scope of the audited entity, the complexity of the audit, the auditor's experience with this entity, as well as knowledge of the features of its activities.

Obtaining information about the activities of the audited entity is an important part of work planning, helping the auditor to identify events, transactions and other features that may have a significant impact on the financial (accounting) statements.

The auditor has the right to discuss certain sections of the general audit plan and certain audit procedures with employees, as well as with members of the board of directors and members of the audit committee of the audited entity in order to increase the effectiveness of the audit and coordinate audit procedures with the work of the audited entity's personnel. At the same time, the auditor is responsible for the correct and complete development of the overall plan and audit program.

The auditor's planning of his work is carried out continuously throughout the duration of the audit engagement due to changing circumstances or unexpected results obtained during the performance of audit procedures.

5.3. General audit plan

The auditor needs to develop and document the overall audit plan, describing in it the expected scope and procedure for the audit. The overall audit plan should be detailed enough to guide the development of the audit program. At the same time, the form and content of the general audit plan may vary depending on the scope and specifics of the audited entity, the complexity of the audit and the specific methods used by the auditor.

In developing the overall audit plan, the auditor should consider:

▪ activities of the audited entity;

▪ the nature of the accounting and internal control system;

▪ expected level of risk and materiality;

▪ nature, timing and scope of procedures;

▪ coordination and direction of work, ongoing monitoring and verification of work performed;

▪ other aspects.

Based on the results of studying information about the client, an audit strategy is developed, that is, what exactly should be checked and how. The areas significant for the audit are determined, as well as those accounting accounts, transactions that the client does not have or, according to the initial impression, seem to be of little significance (not significant) for the audit and may not be checked.

The balance sheet items and reporting indicators are determined, during the audit of which their composition, structure should be analyzed, the factors that influenced their change compared to the previous period or the planned level, etc., should be identified and evaluated.

The areas significant for the audit are primarily those for which the value of balances (balances) and turnovers on accounting accounts is the most significant in comparison with the selected materiality level.

The areas of little significance for the audit (not significant) may include those for which the client does not have transactions or has an extremely small volume, as well as those for which the value of balances (balances) and turnovers on accounting accounts is the least significant in comparison with the selected level of materiality.

Thus, the general plan should: be documented; contain the scope of the audit and the procedure for its implementation.

5.4. Audit program

In accordance with the Federal Auditing Standards, the preparation of an audit program is carried out on the basis of a general audit plan and is a detailed list of the content of audit procedures necessary to implement the audit plan.

The auditor needs to establish and document an audit program that defines the nature, timing and extent of the planned audit procedures needed to carry out the overall audit plan. Audit program - a set of instructions for the auditor performing the audit, as well as a means of monitoring and verifying the proper performance of the work. The audit program may also include verifiable assertions for the preparation of financial (accounting) statements for each of the areas of the audit and the time planned for the various areas or procedures of the audit.

In preparing the audit program, the auditor must take into account the assessments of inherent and control risk that he has obtained, as well as the required level of assurance to be provided in substantive procedures, the timing of tests of controls and substantive procedures, and the coordination of any assistance. , which is expected to be received from the audited entity, as well as the involvement of other auditors or experts. During the development of the audit program, consideration should be given to the issues identified in the audit plan.

The overall audit plan and audit program should be updated and revised as necessary during the course of the audit. Depending on changes in the conditions of the audit and the results of audit procedures, the audit program may be revised. The reasons and results of the changes are reflected in the working papers.

5.5. Audit contract

The preparation of the contract begins after a preliminary acquaintance with the activities of the economic entity and a decision on the possibility of providing audit services. The contract is concluded in accordance with the requirements of Ch. 28 and other norms of the Civil Code.

An audit agreement is an official document that regulates the relationship between the client and the auditor. In general terms, it is no different from ordinary contracts used in business, however, its essential feature is the tacit consideration of the interests of a third party (consumers of financial reporting information) when drawing up a contract.

Persons subject to audit are obliged to conclude, in cases directly provided for by the current legislation of the Russian Federation and regulations or international treaties, contracts for a mandatory audit with audit organizations. Failure to conclude or untimely conclusion of an agreement by a person subject to statutory audit should be considered as actions in order to evade statutory audit.

Audited persons are required not to take any action to restrict. In the text of the agreement, it is advisable to disclose the following main aspects and essential conditions:

1) the subject of the contract for the provision of audit services;

2) conditions for the provision of audit services;

3) the rights and obligations of the audit organization;

4) rights and obligations of an economic entity;

5) the cost and procedure for payment for audit services;

6) the responsibility of the parties and the procedure for resolving disputes.

The organization and calculation of the cost of audit services of specialists is one of the important factors in the effective work of an audit firm. The cost of the auditor's services depends on a certain amount of work. The term "audit scope" refers to the audit procedures that are considered necessary to achieve the audit objective under the circumstances. The procedures required for conducting an audit must be determined by the auditor, taking into account the federal rules (standards) of auditing, internal rules (standards) of auditing, applied in professional audit associations, of which he is a member, as well as the rules (standards) of auditing activities of the auditor. In addition to the rules (standards), when determining the scope of the audit, the auditor must take into account federal laws, other regulatory legal acts and, if necessary, the terms of the audit assignment and the requirements for preparing an opinion (Federal Audit Standard No. 1 "The purpose and basic principles of the financial (accounting) audit) reporting").

Auditing firms often include in the contract clauses on the provision of audit-related services to the client. At the same time, it must be remembered that part of the audit services (maintenance and restoration of accounting, preparation of financial statements and tax returns) is incompatible with conducting an audit at an economic entity that provides for the issuance of an audit report.

Separately, the contract provides for liability related to confidentiality. The list of confidential information not subject to disclosure should be included in the contract for the provision of audit services between the auditor and the person subject to audit. This list does not include information that, in accordance with the legislation of the Russian Federation, cannot be classified as confidential information (trade secret). The obligation to maintain confidentiality must be observed by the auditor even after the end of the relationship between him and the person being audited.

5.6. Study and evaluation of accounting and internal control systems during the audit

Tasks of assessing the system of accounting and internal control. During the audit, the auditor is obliged to understand the accounting system that is used in the economic entity he is checking, and at the same time to study and evaluate those controls on the basis of which he is going to determine the essence, scope and time costs of the proposed audit procedures. The scale and features of the internal control system, as well as the degree of their formalization, must correspond to the size of the economic entity and the characteristics of its activities. The auditor in the course of the audit must obtain sufficient assurance that the accounting system accurately reflects the economic activity of the audited economic entity. Features of the internal control system can contribute to the formation of such a conviction.

In the event that the auditor is convinced that he can rely on appropriate controls, he is able to perform audit procedures in less detail and (or) more selectively than he would otherwise do, and can also make changes to the essence of the audit procedures used. and the estimated time spent on their implementation.

Auditing organizations may decide to apply in their activities more gradations in assessing efficiency and reliability than the three above.

The study and evaluation of the features of the accounting system, the study and evaluation of the internal control system must be documented by audit organizations during the audit.

Serious shortcomings of the accounting system and the internal control system noted during the audit, as well as recommendations for their elimination, should be reflected in the written information (report) of the auditor to the management of the audited economic entity.

Testing the internal control system of the audited entity. The internal control system is a set of organizational measures, methods and procedures adopted by the management of the organization for the orderly and efficient conduct of business activities. The internal control system includes supervision and verification of:

▪ compliance with legal requirements;

▪ accuracy and completeness of accounting documentation;

▪ timely preparation of reliable financial statements;

▪ preventing errors and distortions;

▪ execution of orders and instructions;

▪ ensuring the safety of assets.

The auditor during the audit should take into account that the system of internal control of the economic entity should include:

1) an appropriate accounting system;

2) control environment;

3) individual controls.

The accounting system is a set of specific forms and methods that provide an opportunity for a given organization to keep records of its property and obligations by their continuous, documentary and interconnected reflection in accounting registers based on primary documents, i.e. to carry out accounting, and also generate financial statements.

The control environment is a concept that characterizes the general attitude, awareness and practical actions of the management of the audited organization aimed at establishing, maintaining and developing the internal control system in the organization. The control environment includes:

▪ style and basic principles of organization management;

▪ organizational structure of the organization;

▪ distribution of responsibilities and powers;

▪ personnel policy and practice;

▪ procedure for preparing financial statements;

▪ procedure for preparing internal reporting for management purposes;

▪ compliance with the requirements established by applicable legislation and external regulatory authorities.

Means of internal control - components of the internal control system established by the management of the organization in certain areas and areas of economic activity to ensure effective and reliable management of it.

The management of an economic entity is responsible for the development and actual implementation of the internal control system. It depends on him that the internal control system meets the size and specifics of the activity of the economic entity, functions regularly and efficiently.

The auditor is obliged to evaluate the system of internal control of an economic entity in at least the following three stages:

1) general familiarity with the internal control system;

2) initial assessment of the reliability of the internal control system;

3) confirmation of the reliability of the assessment of the internal control system.

An assessment of the reliability of the control environment is one of the factors that should be taken into account in determining audit risk. In this case, three gradations of the degree of its reliability are used: high, medium, low. When describing the internal control system in an organization that, in the auditor's opinion, belongs to small businesses, it is necessary to take into account the specific features of such entities. The general assumption is that the auditor's confidence in the effectiveness of the internal control system should generally be lower than for medium and large organizations.

Documentation of the study and evaluation of the internal control system for small businesses can be carried out in a simplified form compared to documenting medium and large organizations.

For these subjects, it is possible to limit themselves to describing the results of a general acquaintance with the internal control system or to describe the results of a general acquaintance with the internal control system and assess the reliability of the control environment.

During the initial audit, the client should receive documents regulating its accounting policy and accounting system. The necessary information can also be obtained by oral questioning and written explanations. In a recurring audit, the client must either provide information about changes in accounting policies and accounting systems compared to the period audited in the previous audit, or confirm that there have been no changes.

As a result of the study of accounting and internal control systems, as well as tests of controls, the auditor can understand what weaknesses exist in these systems. The auditor, within a reasonable time, should notify the management at the appropriate level of the material deficiencies identified by him in the structure or functioning of the accounting and internal control systems. Typically, management is informed of significant deficiencies in writing. However, if the auditor believes that verbal communication is more appropriate, such communication should be reflected in the auditor's working papers. It is important to note in the report that only those deficiencies that became known to the auditor during the audit are presented, and also that the audit is not intended to determine the full effectiveness of accounting and internal control systems for management purposes.

5.7. Applicability of the going concern assumption

To assess the ability of the audited entity to continue its activities in the foreseeable future, the auditor is recommended to use the Federal Auditing Standard No. 11 "Applicability of the Assumption of Business Continuity of the Audited Entity". The assumption of business continuity is the main principle of preparing financial (accounting) statements. It generally assumes that the entity will continue in business for the 12 months of the year following the reporting year and has no intention or need to liquidate, cease operations or apply for protection from creditors. Assets and liabilities are accounted for on the basis that the entity being audited will be able to meet its obligations and realize its assets in the normal course of business.

The responsibility of the entity's management is to assess the entity's ability to continue as a going concern, even if the applicable financial (accounting) reporting procedures do not explicitly require it to do so.

If the audited entity has a long track record of profitable operations and easy access to financial resources, management can make an assessment without conducting a detailed analysis.

The auditor may have doubts about the applicability of the going concern assumption when considering financial (accounting) statements or when performing other audit procedures.

In accordance with the standard, the following groups of signs are distinguished, on the basis of which there may be doubt about the applicability of the going concern assumption:

1) financial features:

▪ negative net assets or failure to meet established requirements in relation to net assets;

▪ borrowed funds, the repayment period of which is approaching, in the absence of a real prospect of repayment or extension of the loan term, or the unreasonable use of short-term loans to finance long-term assets;

▪ changing the scheme of payment for goods (work performed, services rendered) to suppliers on the terms of a commercial loan or installment payment compared to settlements upon delivery of goods (work performed, services rendered);

▪ significant deviation of the values ​​of the main ratios characterizing the financial position of the audited entity from normal (ordinary) values;

▪ failure to repay accounts payable in due time;

▪ failure to secure financing for business development or other important investments;

▪ significant losses from core activities;

▪ difficulties in complying with the terms of the loan agreement;

▪ arrears in payment or termination of payment of dividends;

▪ economically unsustainable debt obligations;

▪ signs of bankruptcy established by the legislation of the Russian Federation;

2) production features:

▪ dismissal of key management personnel without proper replacement;

▪ loss of a market, license or key supplier;

▪ problems with labor resources or shortages of significant means of production;

▪ significant dependence on the successful completion of a specific project;

▪ a significant volume of sales of raw materials and supplies, comparable to or exceeding the volume of revenue from the sale of products (works, services);

3) other signs:

▪ failure to comply with the requirements regarding the formation of the authorized capital of the audited entity established by the legislation of the Russian Federation;

▪ legal claims against the audited entity, which are in the process of consideration and may, if the plaintiff is successful, result in a court decision that is not feasible for this entity;

▪ changes in legislation or changes in the political situation.

This list of features is not exhaustive. In addition, the presence of one or more features is not always sufficient evidence of the inapplicability of the going concern assumption in the preparation of the financial (accounting) statements of the audited entity.

The auditor cannot predict future events or conditions that could cause the entity to cease as a going concern, so the absence of any mention of going concern uncertainties in the auditor's report cannot be taken as a guarantee of the entity's ability to continue as a going concern.

The auditor is not required to develop procedures (other than making a request to the entity) to test for factors that cast significant doubt on the entity's ability to continue as a going concern and beyond a period of at least 12 months from the reporting date. If such factors are identified, the auditor should:

▪ review the audited entity's plans for future operations based on an assessment of its going concern assumption;

▪ by performing the necessary audit procedures, collect reliable audit evidence in order to confirm or refute the presence of factors of material uncertainty, including considering the consequences of any plans of the audited entity and possible mitigating circumstances;

▪ require the management of the audited entity to provide written information regarding their plans for future activities.

Based on the audit evidence obtained, the auditor should determine whether, in accordance with his or her professional judgment, a material uncertainty exists related to conditions and events that, individually or in the aggregate, cast significant doubt on the entity's ability to continue as a going concern.

5.8. Using the work of an expert

The decision to use the work of an expert in the audit is made by the audit organization based on the nature and complexity of the circumstances to be investigated, the level of their materiality, as well as the appropriateness, possibility and reliability of other audit procedures in relation to these circumstances.

An expert is recognized as a specialist who is not on the staff of this audit organization and has sufficient knowledge and (or) experience in a certain area (on a certain issue) other than accounting and auditing, and who gives an opinion on an issue related to this area. As an expert, an audit organization can use the work of a specialized organization - a legal entity.

The expert whose work the audit organization uses in conducting the audit should have:

1) relevant qualifications, as a rule, confirmed by appropriate documents (qualification certificate, license, diploma, etc.);

2) relevant experience and reputation in the field, in which the audit organization intends to obtain a conclusion, as a rule, confirmed by relevant reviews, recommendations, publications, references, etc.

The expert whose work the firm employs in conducting an audit must be objective. An audit firm generally should not use the work of an expert in conducting an audit if:

1) an expert - an individual is the main or predominant founder (participant) or head of an economic entity in respect of which the audit organization conducts an audit, or who is closely related or related to the indicated persons (parents, spouses, brothers, sisters, sons, daughters, as well as brothers, sisters, parents and children of spouses), or other official or staff member of the economic entity in respect of which the audit organization conducts an audit;

2) an expert - a legal entity is the main or predominant founder (participant), creditor, insurer of the economic entity in respect of which the audit organization conducts an audit, or the economic entity in respect of which the audit organization conducts an audit, is the main or predominant founder (participant) of the expert - legal entity. If, after the appointment of an expert, the circumstances specified in this paragraph arose or became known, the audit organization must conduct additional audit procedures to ensure the objectivity of the expert's opinion, or appoint another expert.

An audit organization may use the work of an expert when conducting an audit only with the consent of the economic entity in respect of which this organization conducts an audit. The refusal of an economic entity to use the work of an expert must be made in writing. In the event of such a refusal, the audit organization considers the issue of preparing an audit report based on the results of the audit, which is different from unconditionally positive. The audit organization uses the work of an expert when conducting an audit on the basis of a paid services agreement concluded between an economic entity in respect of which the audit organization conducts an audit and an expert or between an audit firm and an expert.

The expert presents the results of his work in the form of a conclusion (report, calculation, etc.) in writing. The expert opinion should, as a rule, consist of three parts: introductory, research and conclusions and be provided in at least two copies, one of which is submitted to the economic entity in respect of which the audit organization conducts an audit, and the second - to the audit organization.

The expert opinion is subject to inclusion in the working documentation of the audit organization. If, in an exceptional case, the expert gives oral explanations, then such explanations should be reflected by the audit organization in its working documentation.

The use of an expert's work in an audit, including reference to such work in an auditor's report, does not remove responsibility for the audit report from the audit organization that prepared it.

An indicative list of work for which the audit organization may need to use the work of an expert:

1) assessment of certain types of property (land, buildings, machinery and equipment, works of art, precious stones, etc.);

2) determination of the quantity and (or) condition of property (mineral reserves in deposits, service life of machinery and equipment, etc.);

3) making calculations using special techniques and methods (actuarial valuations, etc.);

4) measurement of the volume of work performed and work to be performed under outstanding contracts, for the purposes of recognition of the implementation (construction, exploration, design, etc.);

5) legal assessment and interpretation of contracts, constituent documents, normative acts.

Topic 6. AUDITOR RISK AND ITS RELATIONSHIP WITH MATERIALITY AND AUDITOR SAMPLE

6.1. Audit risk and its assessment

One of the main tasks of the auditor is to obtain sufficient evidence to express an opinion that the financial statements on which the auditor's report is drawn up are prepared in accordance with generally accepted practice and principles and do not contain any significant deficiencies or inaccuracies.

Given the fact that the auditor does not confirm every transaction entered into by the client, he cannot do more than simply express an opinion with a certain level of confidence in its legality. There is always a certain risk that some significant inaccuracy will not be detected.

Entrepreneurial risk in the audit is that the auditor may not receive the planned income from the audit, receive an amount less than the planned one, incur losses due to poor-quality audit. It can also be defined as the risk of claims from clients and other parties with an interest in the results of the audit, and the risk of financial loss from the practice of auditing.

In the audit regulation system, this issue is considered in the Federal Auditing Standard No. 8 "Assessment of Audit Risks and Internal Control Performed by the Audited Entity".

Audit risk refers to the risk that the auditor will express an inappropriate audit opinion when the financial statements contain material misstatements. At the same time, audit risk includes three components: inherent risk, control system risk and detection risk.

Auditor risk (audit risk) also means the likelihood that the financial statements of an economic entity may contain undetected material errors and (or) distortions after confirmation of their reliability, or recognizes that they contain significant distortions when in fact there are no such distortions in the financial statements. . It is a criterion for the quality of the auditor's work, and its assessment is based on their professional opinion. The auditor should use his or her professional judgment to evaluate audit risk and design the audit procedures necessary to reduce that risk to an acceptably low level.

Inherent risk expresses the likelihood of errors in the accounting system before they are checked by the internal control system. Depends on industry specifics, rare, atypical operations of an economic entity.

The risk of the control system expresses the likelihood of significant errors in the accounting (financial) accounting system after checking them by the internal control system, that is, it actually means the auditor's assessment of the effectiveness of the internal audit (control) system at the enterprise. It can never be absolutely high, since part of the control functions is performed by the accounting system at the enterprise.

Detection risk expresses the probability that the auditor will not detect errors. Its components may be:

▪ analysis risk (the risk that the analysis procedures will not detect significant errors);

▪ risk during substantive checks (the risk that significant errors will not be identified during the verification procedures);

▪ the risk of sampling (the danger that a sample of transactions for verification will not reflect significant errors).

The auditor must take into account that there is an inverse relationship between the level of materiality and the degree of audit risk:

▪ the higher the level of materiality, the lower the overall audit risk;

▪ the lower the level of materiality, the higher the audit risk.

The level of detection risk is directly related to substantive audit procedures. If the auditor needs to reduce the risk of non-detection, he must:

▪ modify the applied audit procedures, providing for an increase in their number and (or) a change in their essence;

▪ increase the time spent on verification;

▪ increase the volume of audit samples.

When assessing risks, the following gradations are used: high, medium, low.

The auditor may decide to apply in his activities more gradations in risk assessments than the three above, or to use quantitative indicators (percentages or fractions of a unit) for risk assessment.

The assessment of control risk, along with the assessment of inherent risk, influences the nature, timing, and extent of substantive audit procedures that are performed to reduce detection risk and, therefore, reduce audit risk to an acceptably low level. But even if the auditor were to audit all 100% of the account balances or similar transactions of a given group, there would always be some detection risk, in particular because the majority of the audit evidence only provides arguments in support of some conclusion, and is not exhaustive.

The assessed levels of inherent and control risk cannot be so low that the auditor does not need to perform any substantive procedures. Regardless of the levels of inherent and control risk assessed, the auditor should perform some substantive testing of significant account balances and group of transactions.

There is an inverse relationship between detection risk and the combined level of inherent and control risk. If the auditor considers them to be high in the aggregate, then it is necessary that the detection risk be low, if during the planning it turned out that the level of inherent risk and the risk of controls are sufficiently low, the auditor can accept a higher detection risk and still reduce audit risk to acceptable low level.

The higher the assessment of inherent and control risk, the more audit evidence the auditor needs to obtain during substantive procedures. If inherent and control risks are assessed as high, then the auditor needs to determine whether substantive procedures can provide sufficient appropriate audit evidence to reduce detection risk, and therefore audit risk, to an acceptably low level. When the auditor determines that the detection risk with respect to the financial statement assertion cannot be reduced to an acceptably low level, the auditor should express a qualified opinion or disclaim an opinion.

The auditor's assessment of the components of audit risk may change during the course of the audit. In such cases, the auditor needs to make changes to planned substantive procedures based on revised assessments of inherent and control risk.

If the auditor determines that he is unable to reduce the risk of detection to an acceptably low level with respect to significant balance sheet items or a similar group of business transactions, he should express a conditionally positive opinion or disclaim an opinion.

In practice, it is quite difficult to correctly calculate audit risk, especially since the standard contains too many uncertainties and does not provide specific calculation methods, the most acceptable and constructive interpretation of audit risk is its interpretation as the probability of an auditor's error during the audit.

There is no ideal way to reduce audit risk to zero, but the auditor should always strive to reduce it as much as possible by taking into account all sorts of factors when planning the audit.

6.2. Assessment of materiality (materiality) in the audit

The purpose of the audit of financial statements is to express an opinion by the auditor on the reliability of financial statements and the compliance of the procedure for compiling accounting reports with the legislation of the Russian Federation. When expressing his opinion, the auditor uses the phrase: "the financial statements reflect fairly in all material respects." The assessment of materiality is the subject of the auditor's professional judgment, which is considered in the Federal Auditing Standard No. 4 "Materiality in Audit", according to which materiality (materiality) is the maximum allowable amount of an erroneous amount that can be shown in the statements and considered as insignificant, i.e. e. not misleading reporting users.

Materiality is understood as the property of accounting information to influence the economic decisions of a qualified user of such information.

Information about individual assets, liabilities, income, expenses and business transactions, as well as components of capital, is considered material if its omission or distortion may affect the economic decisions of users taken on the basis of financial (accounting) statements. Materiality depends on the value of the indicator of financial (accounting) statements and (or) errors, assessed in case of their absence or distortion. The significance of violations and deviations made by the client is a criterion for the auditor as to whether he can confirm the reliability of the financial statements of the audited organization.

Materiality has two sides: qualitative and quantitative. From a qualitative point of view, the auditor must determine whether the deviations in the procedure for financial and business transactions by the audited organization from the requirements of regulations in force in the Russian Federation, noted during the audit, are or are not material. From a quantitative point of view, the auditor must evaluate whether, individually and in total, the detected misstatements in the financial statements (taking into account the predicted value of unreported errors) exceed the materiality level adopted for the audited organization.

Examples of qualitative distortions are:

▪ insufficient or inadequate description of accounting policies, when there is a likelihood that the user of financial (accounting) statements will be misled by such a description;

▪ failure to disclose information about violations of regulatory requirements when there is a likelihood that the subsequent application of sanctions could have a significant impact on the results of the audited entity.

Materiality may be influenced by regulatory legal acts of the Russian Federation, as well as factors related to individual accounting accounts of financial (accounting) statements and the relationships between them.

The auditor needs to consider the possibility of misstatements in relation to relatively small amounts, which together can have a significant impact on the financial (accounting) statements. For example, an error in a month-end procedure could indicate a possible material misstatement if such an error were repeated every month.

Thus:

1) materiality does not imply the obligation of the auditor to check the financial statements of the organization and give an opinion on its reliability up to the unit of measurement in which these statements are drawn up;

2) materiality is a parameter of a possible change in information that can affect the opinion of its competent user;

3) materiality cannot be expressed in a permanently existing absolute figure;

4) in each specific case, for each organization, the materiality may be different;

5) the criterion for assessing materiality can only be the limit value of a possible error in the financial statements, which can change it to a state that does not allow a qualified user to draw correct conclusions on its basis and make economically sound decisions.

The auditor considers materiality both at the level of financial (accounting) statements as a whole, and in relation to the balance of funds on individual accounting accounts of groups of similar transactions and cases of information disclosure. Materiality may be influenced by regulatory legal acts of the Russian Federation, as well as factors related to individual accounting accounts of financial (accounting) statements and the relationships between them. Depending on the considered aspect of the financial (accounting) statements, different levels of materiality are possible.

The auditor should consider materiality when determining the nature, timing and extent of audit procedures, and when evaluating the effects of misstatements.

Calculation of the level of materiality can be done in two ways: deductive (according to the methodology of the relevant auditing standard or intra-company methodology) or inductive.

In the most general case, the level of materiality is determined by the basic indicators of financial statements (deductively), in respect of which it is necessary to express an opinion on reliability, based on criteria established in accordance with the standards of auditing.

To calculate the materiality level, both indicators of the current period and average indicators of the current and previous periods can be used. The indicators of the current period can be used in the case when in the current period there have been significant changes in the business of the organization and the indicators for the current period and the period preceding the reporting period turned out to be incomparable. In the event that any value deviates strongly up and (or) down from the rest, adjustment is allowed by applying a coefficient with a value of not more than 2. If the adjusted value does not fall into the aggregate, the auditor can discard such a value. On the basis of the remaining indicators, the materiality level is calculated as the arithmetic mean of the values ​​of the basic indicators used for this purpose. For convenience in further work, the calculated value of the materiality level can be rounded within 20%.

The level of materiality affects another indicator - the level of accuracy, which is used in determining the volume of the audit sample, amounting to 75% of the materiality level.

There is an inverse relationship between materiality and the level of audit risk, i.e. the higher the level of materiality, the lower the audit risk, and vice versa. The inverse relationship between materiality and audit risk is taken into account by the auditor when determining the nature, timing and extent of audit procedures. For example, if, after planning specific audit procedures, the auditor determines that the acceptable level of materiality is lower, then audit risk is increased. The auditor compensates for this:

▪ either by reducing the predetermined level of control risk where possible and maintaining the reduced level by performing enhanced or additional tests of controls;

▪ or reducing the risk of non-detection by changing the nature, timing and scope of planned substantive testing procedures.

One of the most understandable ways to reduce audit risk is to reduce such components of it as the risk of non-detection.

6.3. Audit sample

When planning work, the auditor must decide whether he should apply a selective check or a complete check when checking this section of accounting.

The auditor may check the correctness of accounting for balances or account transactions in a complete manner if the number of elements of the audited population is so small that the use of sampling methods is not legitimate, or if the use of audit sampling is less effective than conducting a complete check. The procedure for conducting a spot check may not always be strictly formalized.

The issue is regulated by Federal Auditing Standard No. 16 "Auditor's Sample". An audit sample is conducted with the aim of applying audit procedures to less than 100% of the items in the audited population, which are understood to be the elements that make up the balance of the accounts, or transactions that make up the turnover on the accounts, in order to collect audit evidence to form an opinion on the entire audited population. To build a sample, the audit organization must determine the procedure for checking a particular section of the financial statements, the audited population from which the sample will be made, and the sample size.

The use of the sampling method in audit, as in other areas of human activity, consists in replacing the continuous observation of any general set of objects with the study of some part of it, followed by the distribution of the results of the study to the entire set of objects. The sampling method is a well-developed and repeatedly tested construction of probability theory in various applications.

The audit sample is:

1) in a broad sense: a method of conducting an audit, in which the auditor checks the accounting documentation of an economic entity not in a continuous manner, but selectively, while following the requirements of the relevant Rules;

2) in a narrow sense: a list of selected elements of the tested population in a certain way with the aim of drawing a conclusion about the entire tested population based on their study.

The sampling planning process includes determining:

▪ a set of data that will be subject to random checking;

▪ elements of the highest value and key elements;

▪ the number of elements that should be selected for verification;

▪ method of selecting elements.

The auditor decides which particular set of data he will check in the course of a spot check. Typically, the auditor checks a set of items that correspond to the balance or turnover of a particular accounting account.

When conducting a sample, the audit organization may break the entire study population into separate groups (“sub-populations”), the elements of each of which have similar characteristics. The criteria for partitioning the population should be such that for any element it is possible to clearly indicate to which sub-population it belongs. This procedure, called stratification, reduces the spread (variation) of data, which can facilitate the work of the audit organization. When checking fixed assets, it is usually convenient to separate buildings and structures, vehicles, production equipment, etc. into separate groups for checking. When checking materials, it is convenient to divide materials into groups according to sub-accounts. When testing implementation, it is sometimes possible to classify clients into groups depending on the types of services.

The sample size is determined by the amount of error that the auditor considers acceptable. The lower the value, the larger the required sample size.

To check randomly, there are several methods for selecting elements:

▪ random sampling method (computer programs or tables of random numbers can be used for this);

▪ method of quantitative sampling by intervals;

▪ method of monetary sampling by intervals.

The interval value is defined as the ratio of the entire range of values ​​(for example, serial numbers of documents or other objects being checked) to the number of sample elements.

To build a monetary sample by intervals, the objects under study must have a value expression, but it must be possible to determine the cost on an accrual basis.

Before the auditor begins to select elements randomly, he should select a number of elements in a certain way. Such elements are called elements of the greatest cost and key.

The elements of the highest cost without fail include those whose cost value exceeds the degree of accuracy determined in the course of audit planning. Besides, the auditor has the right to include in number of checked and other elements which have the greatest cost value.

The key elements include those elements of the audit in which the auditor considers errors and misstatements to be the most likely, guided by his professional judgment, as well as additional information that came to his disposal during the audit.

When forming a sample, one should describe the specific goals for which it is being carried out, as well as evaluate the errors present in the sample in relation to the goal. If the audit objectives have not been achieved through sampling, the audit firm may perform alternative audit procedures.

Evaluation of the sample results includes the following types of work:

a) analysis of each error in the sample;

b) extrapolation of the results obtained during the sampling to the entire tested population;

c) sampling risk assessment.

Errors found in the elements of a representative sample are subject to distribution to the entire tested population. Errors found on the elements of the highest value and key elements are taken into account in the amount actually found and are not subject to distribution. The total estimated error from the sample test results is the sum of the estimated error from the representative sample, added to the actual error found for the highest value and key elements.

If the total expected value of the error obtained from the results of the sample is close in order of magnitude to the level of materiality or degree of accuracy, and especially if the selective checks carried out in different areas of the client’s accounting give an error that is comparable in size or exceeds level of materiality, the auditor is advised to take the following actions:

▪ require the client to correct actually detected errors;

▪ analyze the causes of errors and estimate the possible volume of undetected errors;

▪ modify audit procedures to obtain more reliable data (for example, increase the sample size);

▪ attempt to perform any alternative audit procedures in relation to this section of the accounting;

▪ require the client to correct not only the detected errors, but also other possible errors in this area of ​​accounting, and then selectively check other elements of this section of accounting again.

The audit organization must necessarily reflect in the working documentation of the auditor all stages of the audit sample and analysis of its results.

6.4. The concept of affiliates in the audit

This issue is considered in the Federal Auditing Standard No. 8 "Affiliates", compiled taking into account the International Auditing Standards.

Affiliates are individuals and legal entities capable of influencing the activities of legal entities and (or) individuals engaged in entrepreneurial activities. A transaction between an audited entity and an affiliate is any transaction involving the transfer of any assets or liabilities between the audited entity and an affiliate.

The auditor must perform audit procedures in order to obtain sufficient appropriate audit evidence regarding affiliates and disclosure of information about them, as well as the impact of transactions between the audited entity and an affiliate on the financial (accounting) statements of the audited entity. However, an audit should not be expected to reveal all transactions with affiliates.

The management of the audited entity is responsible for determining the affiliation of the parties and transactions with them, as well as disclosing relevant information in the financial (accounting) statements.

The auditor needs to have knowledge of the activities of the audited entity and the industry as a whole, allowing him to identify events, transactions and existing practices that may have a significant impact on the financial (accounting) statements. The presence of affiliates and transactions with them is considered normal in business practice, but the auditor should be aware of them.

During the course of the audit, the auditor should look for unusual transactions and transactions that may indicate the existence of previously unidentified affiliates, including:

▪ transactions involving atypical situations and conditions (for example, the presence of non-standard prices, interest rates, guarantees, etc.);

▪ operations carried out for no apparent reason in terms of business logic;

▪ operations, the content of which differs from their form;

▪ transactions reflected in documents and accounting in an unusual way;

▪ large volume of transactions or significant transactions with individual consumers or suppliers (compared to others);

▪ unaccounted transactions, including gratuitous receipt or provision of management services.

When reviewing transactions with affiliates, the auditor should obtain sufficient audit evidence that these transactions have been properly accounted for and disclosed. If the auditor cannot obtain such evidence, or concludes that information about them is unclear or incomplete in the financial (accounting) statements, the auditor should modify the auditor's report accordingly.

Topic 7

7.1. Audit Evidence

In order to have a basis for conclusions on the main areas of the audit, the auditor must collect the appropriate evidence. Federal Auditing Standard No. 5 "Audit Evidence" establishes uniform requirements for the quantity and quality of evidence that must be obtained during the audit of financial (accounting) statements, as well as for procedures performed to obtain evidence.

Audit Evidence is the information obtained by the auditor during the audit, and the result of the analysis of this information, on which the auditor's opinion is based. Audit evidence includes, in particular, primary documents and accounting records, which are the basis of financial (accounting) statements, as well as written explanations of authorized employees of the audited entity and information obtained from various sources (from third parties).

The audit firm or individual auditor must obtain appropriate evidence in order to draw reasonable conclusions on which to base the auditor's opinion. Evidence is obtained as a result of conducting a set of texts of internal controls and the necessary substantive verification procedures. In some situations, evidence may be obtained solely through substantive procedures.

The concepts of sufficiency and appropriateness are interrelated and apply to audit evidence obtained as a result of tests of internal controls and audit procedures. Sufficiency is a quantitative measure of audit evidence. Appropriate nature is the qualitative side of audit evidence, which determines their coincidence with a specific premise of the preparation of financial (accounting) statements and its reliability.

The auditor's judgment about what is sufficient appropriate audit evidence is influenced by the following factors:

▪ audit assessment of the nature and magnitude of audit risk both at the level of financial (accounting) statements and at the level of balances in accounting accounts or similar business transactions;

▪ the nature of accounting and internal control systems, as well as assessment of the risk of using internal controls;

▪ materiality of the audited item in the financial (accounting) statements;

▪ experience gained during previous audits;

▪ the results of audit procedures, including possible detections of fraud or errors;

▪ source and reliability of information.

Audit evidence is usually collected, taking into account each premise of the preparation of financial (accounting) statements. Audit evidence relating to one assertion, such as the existence of inventory, cannot compensate for the lack of audit evidence relating to another assertion, such as a valuation. The nature, timing and extent of substantive testing procedures depend on the assertion being tested. During tests, the auditor may obtain evidence related to more than one assertion, for example, when checking the collection of receivables, he may identify audit evidence both about their existence and about their size (valuation).

The reliability of audit evidence depends on its source (internal or external), as well as on the form of its presentation (visual, documentary or oral). Audit evidence is more persuasive if it is obtained from different sources, has different content and does not contradict each other. In such cases, the auditor may provide a higher degree of assurance than would be obtained by considering the audit evidence individually. Conversely, if the audit evidence obtained from one source is inconsistent with the evidence obtained from another, the auditor should determine what additional procedures need to be performed to determine the reasons for such a discrepancy.

The auditor should balance the costs associated with obtaining audit evidence against the usefulness of the information obtained. However, the complexity of the work and the costs are not sufficient grounds for refusing to perform the necessary procedure.

If there are serious doubts about the reliability of the reflection of business transactions in the financial (accounting) statements, the auditor should try to obtain sufficient appropriate audit evidence to eliminate such doubt. If it is not possible to obtain sufficient appropriate audit evidence, the auditor should express an opinion subject to an appropriate qualification or disclaim an opinion.

The auditor obtains audit evidence by performing the following substantive procedures:

▪ an inspection is an examination of records, documents or tangible assets during which the auditor obtains audit evidence of varying degrees of reliability depending on its nature and source, as well as the effectiveness of internal controls over the processing of it;

▪ observation is the auditor's monitoring of a process or procedure performed by others (for example, the auditor's observation of inventory counts carried out by employees of the entity being audited, or monitoring the implementation of internal control procedures for which there is no documentary evidence for audit);

▪ request (search for information from knowledgeable persons within or outside the audited entity. In form, it can be either formal written, addressed to third parties, or an informal oral question addressed to employees of the audited entity. Answers to requests (questions) can provide the auditor with information that he did not previously have or that support audit evidence);

▪ confirmation (response to a request for information contained in accounting records (for example, the auditor usually requests confirmation of accounts receivable directly from debtors));

▪ recalculation (checking the accuracy of arithmetic calculations in primary documents and accounting records or the auditor performing independent calculations);

▪ analytical procedures represent an analysis and assessment of the information received by the auditor, a study of the most important financial and economic indicators of the audited entity in order to identify unusual and (or) incorrectly reflected business transactions in the accounting records, and identify the causes of such errors and distortions.

7.2. Audit Documentation

Audit documentation is regulated by Federal Auditing Standard No. 2. The audit organization and the individual auditor must document all information that is important in terms of providing evidence supporting the audit opinion, as well as evidence that the audit was conducted in accordance with the Federal Auditing Standards.

The purpose of this standard is to optimize the composition and content of the working documentation of accounting and reporting sections to increase the "readability" of audit files, as well as to ensure the ability to control the validity of audit evidence at all levels, including the performer's self-control.

The term "documentation" refers to working papers and materials prepared by and for the auditor, or received and retained by the auditor in connection with the audit. Working documents can be presented in the form of data recorded on paper, photographic film, in electronic form or in another form, and are used:

▪ when planning and conducting an audit;

▪ when carrying out ongoing monitoring and verification of the work performed by the auditor;

▪ to record audit evidence obtained to confirm the auditor's opinion.

The standard does not contain a specific list of mandatory audit working papers and specific requirements for their execution, however, it formulates factors that affect the form and content of working papers, as well as a list of approximate information that should be given in working papers. Working papers should be drawn up in the complete form necessary to provide a general understanding of the audit so that an experienced auditor, having read them, can get a general idea of ​​\uXNUMXb\uXNUMXbthe audit performed by the organization.

The auditor should reflect in the working papers information about the planning of the audit work, the nature, timing and extent of the audit procedures performed, their results, as well as the conclusions drawn from the obtained audit evidence. The working papers should contain the rationale by the auditor of all important points on which it is necessary to express his professional judgment. In cases where the auditor has reviewed complex matters of principle or expressed professional judgment on any matters important to the audit, the working papers should include facts that were known to the auditor at the time of formulating the conclusions with the necessary reasoning.

The length of the working papers depends on the professional judgment of the auditor. It is not necessary to document every matter considered by the auditor. In particular, it is unacceptable to include in the working documentation copies of primary documents that are duly executed, do not contain errors and correspond to business transactions described by these primary documents. Instead of copies of such documents, it is permissible to compile a summary table indicating the list of verified operations and putting a mark on the availability and correctness of the relevant primary documents.

Working documentation should contain information about all checked documents, operations, facts, and not just about those on which comments are made.

The sufficiency of the volume of working documentation is determined by the head of the audit, while the main criteria are the availability of documents confirming the performance of audit tests on the merits in accordance with the approved audit programs, compliance with the principle of targeted verification, ensuring the possibility of end-to-end tracking (using the cross-reference method) of the correctness (incorrectness) of reporting data.

The form and content of working documents are determined by factors such as:

▪ the nature of the audit engagement;

▪ requirements for the auditor's report;

▪ the nature and complexity of the audited entity's activities;

▪ the nature and condition of the audited entity's accounting and internal control systems;

▪ the need to give instructions to the auditor’s employees, exercise ongoing control over them and check the work they perform;

▪ specific methods and techniques used in the audit process.

Working papers should be drawn up and systematized in such a way as to meet the circumstances of each specific audit and the needs of the auditor during its implementation. In order to increase the efficiency of preparation and verification of working documents in an audit organization, it is advisable to develop standard forms of documentation (for example, a standard structure of an audit file (folder) of working documents, forms, questionnaires, standard letters and appeals, etc.). This standardization of documentation can facilitate the assigned work of subordinates and at the same time allow you to control the results of their work.

For each client, the audit firm fills in a permanent and annual (current) folder. The permanent folder contains permanent and little-changing information about the client, for example:

▪ copies of the package of constituent documents;

▪ information about the main shareholders (co-owners);

▪ data on the organizational structure of the enterprise;

▪ copies of long-term agreements (with banks on loans, with own clients, with suppliers), which are important for the audit over many years;

▪ copies of regulatory documents related to the functioning of this enterprise or enterprises of a specific group to which the client’s organization is related.

The annual (current) folder contains the current working documents of the audit based on the results of each specific financial year. For each year, a separate current folder or (in the case of a significant amount of documentation) a set of folders is created for each audited organization.

For small enterprise clients, as well as for performing one-time tasks, it is allowed to place permanent and variable information about the client in the same folder. In the event that the client reapplies in the next year, the auditors working with such a client are required to separate his documents into appropriate separate folders.

By the time the audit report is prepared, all working documentation must be created (received) and formalized accordingly. The auditor needs to establish appropriate procedures to ensure confidentiality, security of working papers, and also for their storage for a sufficient period of time, based on the nature of the auditor's activities, as well as legal and professional requirements, but not less than five years.

Working papers are the property of the auditor, although parts of the documents or excerpts from them may be provided to the audited entity at the discretion of the auditor, they cannot serve as a substitute for the accounting records of the audited entity.

7.3. Verification of compliance with regulatory requirements

When considering this issue, it is necessary to be guided by the Federal Auditing Standard No. 14 "Taking into account the requirements of regulatory legal acts of the Russian Federation during the audit".

As part of the audit of financial statements, the auditor does not aim to identify all the facts of non-compliance with laws and regulations. Identification of such facts may be the subject of a special audit engagement in the performance of audit-related services, however, conducting an annual audit may help prevent non-compliance by the auditee with laws and regulations.

The degree of influence of laws and regulations on the financial statements of the organization may be different. Some legislative and regulatory acts determine the form of financial statements, the procedure for the formation of its indicators, disclosure of information in the organization's financial statements. Other laws and regulations define the conditions for the activities of the organization, without which the activities or individual operations of the organization cannot be carried out or can be terminated or limited. For example, the legislation on joint-stock companies regulates the processes of formation, reorganization of joint-stock companies, procedures for changing their capital, etc.; organizations in a number of industries must have licenses in order to carry out their activities (for example, audit organizations, organizations engaged in the extraction and processing of oil and gas, transport organizations, etc.); antitrust laws regulate certain transactions by organizations and may prohibit their implementation, etc. A number of laws and regulations create special obligations for organizations.

Tax legislation, currency control legislation, customs legislation, etc., affect the activities of almost all organizations. At the same time, non-compliance with the law in these areas can have significant financial consequences for the organization.

Finally, there are laws and regulations that define the general issues of the functioning of the organization. These include labor laws, safety regulations, worker health, etc. Such regulations generally have no impact on an entity's financial statements because they have little or no bearing on events or transactions that would normally be reflected in the financial statements. reporting.

The management of the audited organization is responsible for compliance with the requirements of legislative and regulatory acts. The auditor is not responsible for the non-compliance of the audited organization with laws and regulations, and therefore verification of compliance with the audited organization with laws and regulations is not the purpose of the audit. The less the impact of laws and regulations on the transactions and facts of business activities that are usually reflected in accounting and reporting, the less likely it is that the audit will reveal facts of non-compliance by the organization with laws and regulations.

When planning and performing an audit, as well as when evaluating its results and forming an auditor's report, the auditor should take into account that non-compliance by the audited entity with laws and regulations can, in some cases, have a material impact on the financial statements. For example, non-compliance with tax laws can lead to misreporting of an entity's tax liabilities and material liabilities to pay penalties. Failure to comply with the conditions stipulated by licenses for the use of natural resources, the development of mineral deposits, etc., may lead to a violation of the going concern principle, etc.

The auditor also needs to obtain sufficient evidence that the audited entity complies with laws and regulations that, in the auditor's opinion, affect the determination of material amounts in the financial statements and the information disclosed therein. To do this, he needs to study the requirements of the relevant laws and regulations and make sure that the necessary indicators are reflected in the financial statements and the information is disclosed in the notes to them.

In accordance with the requirements of the Law on Auditing, when checking the compliance of the accounting procedure with the law, the auditor must:

▪ study the requirements of current legislative and regulatory acts on the procedure for maintaining accounting records;

▪ make sure that the audited organization complies with the specified requirements.

As a rule, verification of compliance with the requirements of legislative and regulatory acts is carried out in the course of audit procedures for checking the relevant items of financial statements. The auditor should be prepared for the fact that this may reveal facts of non-compliance with laws and regulations. For example, such facts may be identified when reviewing the minutes of meetings of the board of directors or other governing body, when responding to inquiries regarding litigation, claims and sanctions from management and/or the lawyer of the organization, when performing substantive audit procedures with respect to transactions or balance reports.

In assessing the impact of non-compliance with laws and regulations on the financial statements of the auditee, the auditor should:

▪ consider possible financial consequences for the organization: fines, penalties, other sanctions, threat of confiscation of assets, forced termination of activities, litigation, etc.;

▪ consider the need to disclose possible financial consequences in the organization’s reporting;

▪ assess whether the potential financial consequences are so serious that they may affect the reliability of the financial statements.

The auditor, as soon as possible, reports the facts of non-compliance with the regulatory legal acts of the Russian Federation by the audited entity to the board of directors and senior management of the audited entity or obtains evidence that they are properly informed about the facts of non-compliance that attracted the attention of the auditor. However, the auditor may choose not to do so in the absence of consequences or in minor cases, and may communicate with management in advance the nature of the matters to be reported by the auditor.

If the auditor came to the conclusion that the fact of non-compliance with the regulatory legal acts of the Russian Federation has a significant impact on the financial (accounting) statements and was not properly reflected in it, he must express a qualified opinion or a negative opinion in writing.

The auditor should document identified (or suspected) non-compliance by the audited organization with laws and regulations. If the audited entity prevents the auditor from obtaining sufficient appropriate audit evidence confirming that the facts of non-compliance with the regulatory legal acts of the Russian Federation, which may be significant for the financial (accounting) statements, have taken place or could take place, the auditor should express an opinion with a reservation or refuse to express opinions due to the limitation of the scope of the audit.

7.4. Actions of the auditor in case of detection of errors and dishonesty

Distortion of financial statements, i.e., incorrect reflection and presentation of accounting data can be of two types: intentional and unintentional.

Deliberate distortion of financial statements is the result of deliberate actions (or inaction) of the personnel of the audited economic entity. They are committed for selfish purposes to mislead users of financial statements. At the same time, the auditor should take into account that the conclusion about the deliberate actions (or inaction) of the personnel of the economic entity, leading to the appearance of distortions in the financial statements, can only be made by the authorized body.

Unintentional distortion of financial statements is the result of unintentional actions (or inaction) of the personnel of the audited economic entity. It may be the result of arithmetic or logical errors in accounting records, errors in calculations, oversight in the completeness of accounting, incorrect reflection in accounting of the facts of economic activity, the presence and condition of property.

Both intentional and unintentional misrepresentation of financial statements can be significant for the audited economic entity (i.e. affecting the reliability of its financial statements to such a strong extent that a qualified user of financial statements can draw erroneous conclusions or make erroneous decisions) or insignificant.

An error is an unintentional misrepresentation in the financial (accounting) statements, including the failure to reflect any numerical indicator or the failure to disclose any information. Examples of errors are:

▪ erroneous actions taken during the collection and processing of data on the basis of which financial (accounting) statements were compiled;

▪ incorrect estimates resulting from incorrect accounting or incorrect interpretation of facts;

▪ errors in the application of accounting principles relevant to accurate measurement, classification, presentation or disclosure.

Fraud is understood as deliberate actions committed by one or more persons from among the representatives of the owner, management and employees of the audited entity or third parties with the help of illegal actions (inaction) to obtain illegal benefits. The Federal Auditing Standards considers only fraudulent actions that cause material misstatements of financial (accounting) statements.

There are two types of fraudulent misstatements that are considered in an audit:

▪ distortions arising in the process of unfair preparation of financial (accounting) statements;

▪ distortions arising from the appropriation of assets.

Fraud implies the presence of motivating factors and perceived opportunities for their commission. Unfair preparation of financial (accounting) statements is possible in cases where the management of the audited entity, under the influence of external or internal factors, wants to achieve biased performance results. A perceived possibility of fraudulent financial (accounting) reporting or misappropriation of assets exists when an individual believes that they can bypass the internal control system (for example, if this person is in a responsible position or knows specific weaknesses in the internal control system).

An error differs from an act of bad faith by the lack of intent underlying the action that led to the distortion of the financial (accounting) statements. Unlike error, fraud is intentional and usually involves the deliberate concealment of facts. While the auditor can determine the potential for fraud, it is difficult if not impossible for the auditor to determine intent, especially in terms of the subjective judgment of the entity's management.

The management of the audited entity and representatives of the owner, in accordance with the legislation of the Russian Federation, are responsible for preventing and detecting fraud and errors. The responsibility of these persons may depend on the organizational structure and internal regulatory documents of the entity being audited. Corporate governance practices require that the representatives of the owner and the management of the audited entity create and maintain a general culture of integrity and high moral standards, as well as establish appropriate controls to prevent and detect errors and fraud.

The entity's management is required to establish a control environment and maintain policies and procedures that maximize the achievement of the objectives of the entity's orderly and efficient operations by implementing and maintaining the continuity of an accounting and internal control system designed to prevent and detect fraud and error. Such a system reduces, but does not completely eliminate, the risk of misstatement due to errors and fraud. Accordingly, the entity's management is responsible for any remaining risk.

The auditor is not and cannot be held responsible for preventing errors and fraud, and he cannot obtain absolute assurance that all material misstatements in the financial (accounting) statements will be detected. Due to the inherent limitations of an audit, there is an inevitable risk that some material misstatement of the financial (accounting) statements will not be detected, despite the fact that the audit was properly planned and conducted in strict accordance with the Federal Auditing Standards.

The risk of not detecting fraudulent actions of the audited entity's management is much higher than the risk of not detecting fraudulent actions of its employees, since the management and representatives of the owner are in a position that implies their high authority, honesty and integrity, which gives them the opportunity to circumvent formally established control procedures. A certain level of management can take advantage of their position and circumvent control procedures designed to prevent similar dishonest actions of employees (for example, give an order to record a particular business transaction or hide it). Management may order employees to commit any dishonest act or use their help to do so, and ordinary employees may not be aware of this.

Until evidence to the contrary is obtained, the auditor has the right to accept the records and documents of the audited entity as genuine. An audit conducted in accordance with the Federal Auditing Standards, as a rule, does not involve verification of the authenticity of documentation and does not require the auditor, as a person who does not have special training, to be a specialist in such verification.

The ability to hide fraudulent activities makes it much more difficult to detect them. However, using knowledge of the activities of the entity being audited, the auditor may determine the events or conditions that provide an opportunity, motivation or means of committing fraud, or determine the fact that fraud has already occurred. Such events or conditions are referred to as fraud risk factors. This, for example, is the absence of a primary document or a contradictory result of an analytical procedure. These events may occur as a result of other circumstances, and not as a result of dishonest actions. Fraud risk factors do not always indicate the presence of such acts, but they are often present in the circumstances in which the acts occur. The presence of fraud risk factors may change the auditor's assessment of inherent or control risk.

Matters to be communicated to the owner's representatives are determined by the professional judgment of the auditor. Such questions may include:

▪ issues of management competence and integrity;

▪ unfair practices involving management;

▪ other dishonest actions that led to significant distortions in the financial (accounting) statements;

▪ significant distortions in financial (accounting) statements resulting from errors;

▪ misstatements that may cause significant distortions in financial (accounting) statements in the future.

If the auditor has found material misstatements in the financial (accounting) statements resulting from an error, he must promptly inform the managers of the appropriate level and, if necessary, representatives of the owner of the audited entity.

If the auditor concludes that it is impossible to complete the audit due to the distortion of the financial (accounting) statements as a result of dishonest actions, then he must take into account his professional and legal responsibility in relation to these circumstances, consider the possibility of abandoning the assignment.

The increase in the risk of distortions in financial statements can be influenced by both factors of the economic activity of an economic entity, and reflecting the characteristics of a particular industry or country as a whole.

1. The factors of intraeconomic activities of an economic entity that contribute to the appearance of distortions include:

▪ the presence of significant financial investments in crisis sectors of the economy;

▪ discrepancy between the amount of working capital and the rapid growth in sales (production) of an economic entity or a significant decrease in profits;

▪ the presence of dependence of an economic entity in a certain period on one or a small number of customers or suppliers;

▪ changes in contractual practices or accounting policies that lead to a significant change in profit;

▪ atypical transactions of an economic entity, especially at the end of the year, which significantly affect the value of financial indicators;

▪ the presence of payments for services that clearly do not correspond to the services provided;

▪ features of the organizational and managerial structure of an economic entity, the presence of shortcomings in this structure;

▪ features of the capital structure and profit distribution;

▪ presence of deviations from established rules in accounting and organization of preparation of financial statements, etc.

2. Factors reflecting the specifics of the state of a particular branch of financial and economic activity of an economic entity and the economy of the country as a whole, contributing to the appearance of distortions, include:

▪ the state of the economic sector and the country’s economy as a whole - crisis, depression or recovery;

▪ increasing the possibility of insolvency (bankruptcy) of an economic entity due to the crisis state of the industry;

▪ features of the production activity of an economic entity, technological features of production.

The facts of distortions of the financial statements of the audit organization revealed during the audit should be reflected in detail in its working documentation, and subsequently in the report or conclusion. The audit organization is responsible for expressing an objective and reasonable opinion on the reliability of the financial statements presented in writing in the audit report and (or) report to the management of the audited economic entity. She is also responsible for the correctness and completeness of the data reflected in the auditor's opinion and (or) report on the material misstatements of the financial statements identified by him.

The audit organization is responsible for non-compliance with the confidentiality of the commercial information of the economic entity, expressed in the disclosure of information about the identified misstatements of financial statements to third parties (except as expressly provided for by applicable law).

7.5. Analytical procedures in audit. Types and features of application

Federal Auditing Standard No. 20 "Analytical Procedures" obliges the auditor to apply analytical procedures at the planning stage and the final stage of the audit, while the auditor analyzes the ratios and patterns based on information about the activities of the audited entity, and also studies the relationship of these ratios and patterns with other existing the information at the auditor's disposal or the reasons for possible deviations from it.

Analytical procedures include:

a) consideration of financial and other information about the audited entity in comparison:

▪ with comparable information for previous periods;

▪ the expected results of the audited entity's activities, for example, estimates or forecasts, as well as the auditor's assumptions;

▪ information about organizations engaged in similar activities (for example, comparing the ratio of the audited entity's sales revenue to the amount of accounts receivable with industry averages or with indicators of other organizations of comparable size in the same industry);

b) consideration of relationships:

▪ between elements of information that are expected to correspond to a predicted pattern, based on the experience of the audited entity;

▪ financial information and other information (eg between labor costs and number of employees).

Analytical procedures can be carried out in different ways (simple comparison, complex analysis using complex statistical methods, etc.). Analytical procedures are performed on the consolidated financial statements, financial statements of subsidiaries, divisions or segments, and certain elements of financial information.

The application of analytical procedures is based on the assumption that the relationship between numerical indicators exists and continues to exist insofar as there is no evidence to the contrary. The presence of such a relationship provides audit evidence regarding the completeness, accuracy and reliability of the data obtained in accounting. The extent to which the auditor can rely on the results of analytical procedures depends on the auditor's assessment of the risk that analytical procedures based on forward-looking data may indicate the absence of error when, in fact, the amount being tested is materially misstated.

The choice of method for conducting analytical procedures or designing a test depends on the goal. With a consistent analysis of financial statements, it is first advisable for the auditor to apply the so-called method of reading financial statements. This method consists in studying the absolute values ​​of the indicators presented in external reporting, and on this basis determining the main sources of the enterprise's funds and profits (reasons for losses), directions for their use over the past period, as well as the leading provisions of the accounting policy. Particular attention should be paid to the presence of unusual indicators and amounts in the statements.

The method of sectoral comparative analysis is used to compare the financial performance of an enterprise with industry average data. The benefit of industry benchmarking is that it provides the auditor with a deeper understanding of the client's business. Of course, this is true, provided that the financial position of enterprises and the dynamics of industry indicators reflect the objective pattern of the industry's development. In addition, information of the required quality must be available on the basis of which the financial position of various enterprises can be analyzed.

In a comparative analysis of actual and planned indicators, the auditor examines the content and procedure for drawing up estimates, discusses it with the client, and also conducts detailed testing of actual indicators. As a rule, enterprises make preliminary calculations for various aspects of their business activities. Since these calculations are nothing more than the client's forecast for the relevant period, an examination of those aspects in which there are sharp deviations of actual indicators from planned ones can reveal errors.

The auditor can also draw up his own balance sheet based on the development trends of the enterprise and his own understanding of the client's business. Comparison of the actual data of the client with the calculations of the auditor will allow for a more thorough check.

Note that it is often very effective to compare the accounting and reporting data of the client for several time periods, as well as the auditor's study of deviations that give different techniques and methods. Comparison of financial indicators in the context of each of the methods can occur in absolute terms, in relative terms and in a mixed version. As practice shows, conclusions based on the study of absolute reporting indicators require the greatest caution. This is explained by the fact that the interpretation of changes in absolute values ​​due to the influence of inflation cannot be unambiguous. In this regard, the analysis of relative indicators is considered to be a generally accepted analytical procedure. Relative indicators, in turn, are differentiated into balance indicators, indicators of the statement of financial results and their use, and mixed indicators.

Analysis of the results and drawing conclusions after the implementation of audit procedures can be thought of as a whole as a process of analyzing, interpreting and summarizing unusual deviations found by the auditor. The application of these procedures improves the quality and reduces the cost of auditing. The results of the analysis of unusual deviations, as well as the results of planning and performing analytical procedures, the auditor should reflect in the working documentation for the audit; use to obtain audit evidence necessary for the preparation of an audit report, as well as for the preparation of written information by the auditor to the management of an economic entity based on the results of the audit.

7.6. Peculiarities of auditing estimated values

The issue is regulated by the Federal Auditing Standard No. 21 "Peculiarities of Auditing Estimated Values", which establishes uniform requirements for the audit of estimated values ​​contained in financial (accounting) statements. The Standard does not apply to the review of forecast or expected financial information, but many of its procedures can be used for this purpose.

Estimated values ​​are approximate values ​​of certain indicators determined or calculated by employees of the entity on the basis of professional judgment in the absence of precise methods for determining them, including:

a) estimated reserves;

b) depreciation charges;

c) accrued income;

d) deferred tax assets and liabilities;

e) a reserve to cover losses incurred as a result of financial and economic activities;

f) losses on construction contracts recognized before the termination of these contracts.

Estimated values ​​are usually calculated under conditions of uncertainty in the outcome of events that have occurred in the past or with some probability will occur in the future, and require professional judgment. If financial (accounting) statements contain estimated values, the risk of material misstatement increases.

An accounting estimate may be part of an ongoing accounting system or part of a system that operates only at the end of an accounting period. In many cases, estimates are calculated using formulas and ratios based on the experience of the entity being audited (for example, standard depreciation rates for a group of property, plant and equipment, a standard percentage of sales revenue to calculate a reserve for future warranty repairs and warranty service for products that are life time). In such cases, the entity's management should periodically review the formulas and ratios, for example by re-estimating the remaining useful life of the assets or comparing actual results with the estimate and adjusting the formula if necessary.

The auditor's actions taken in general and detailed review of the procedures used by the entity's management include:

a) evaluation of the input data and consideration of the assumptions on which the estimate is based;

b) arithmetic verification of calculations;

c) comparison of calculations in relation to previous periods with actual results for these periods (if possible);

d) consideration of procedures for the approval of accounting estimates by the management of the audited entity.

When evaluating the assumptions on which the accounting estimate is based, the auditor should consider whether they are:

a) reasonable, taking into account actual results for previous periods;

b) applied consistently with the assumptions used to calculate other estimates;

c) consistent with the plans of the management of the entity being audited.

The auditor should check the correctness of the formulas used by the management of the audited entity in calculating estimates. This general check is based on the auditor's knowledge of the following:

a) the financial results of the audited entity for previous periods;

b) the practice followed by other economic entities of the given sector of the economy;

c) the plans of the management of the entity being audited as communicated to the auditor.

The auditor should carry out an arithmetic check of the calculations. The nature, timing and extent of the audit procedures for such an audit depend on the complexity of calculating estimated values, the auditor's assessment of the reliability of the procedures and methods used by the audited entity, as well as the materiality of the estimated values ​​for the financial (accounting) statements as a whole. Because of the uncertainty inherent in an accounting estimate, evaluating discrepancies can be more difficult than in other areas of the audit. If there is a discrepancy between the audit estimate of the amount, confirmed by audit evidence, and the estimated value reflected in the financial (accounting) statements, the auditor must determine whether there is a need to adjust the financial (accounting) statements due to the existence of such a discrepancy. If the difference is reasonable (for example, due to the fact that the amount in the financial (accounting) statements does not go beyond the permissible error), the auditor does not need to require an adjustment. If the auditor believes that the existing difference is not reasonable, he should contact the management of the audited entity with a proposal to revise the accounting estimate. In case of refusal, the difference should be considered a misstatement and considered together with other misstatements when assessing whether the consequences of such misstatements are significant for the financial (accounting) statements.

7.7. Audit in the conditions of computer data processing

Computer data processing (COD) of an economic entity takes place in cases where computer technology is used to process significant amounts of accounting information, regardless of the following factors:

a) the computer is used by the economic entity independently or under an agreement with a third party;

b) a computer is used by an economic entity to process economic information in all aspects of economic activity and its accounting, or only to automate the processing of information on certain types of facts of economic life, certain areas of accounting.

When conducting an audit in the COD system, the purpose of the audit and the main elements of its methodology are preserved. The presence of the COD environment significantly affects the process of studying the accounting system of an economic entity and its accompanying internal controls by the auditor.

The use of technical means leads to a change in individual elements of the organization of accounting and internal control:

a) to verify business transactions, along with traditional primary accounting documents, primary accounting documents on a machine-readable medium are also used;

b) permanent reference indicators can be checked against data stored in computer memory or on machine-readable media;

c) instead of traditional manual forms of bookkeeping, a form of accounting can be used that is focused on progressive methods of generating output information and ensuring its reliability, combining synthetic accounting with analytical and systematic with chronological, as well as increasing the efficiency and ease of use of accounting and reporting information.

The auditor should not force (directly or indirectly) the audited economic entity to use the COD system known to the auditor.

An economic entity is obliged to provide the audit organization with the necessary access to the COD system. Non-fulfillment (incomplete fulfillment) of this condition is a limitation of the scope of the audit in the COD system, as a result of which the audit organization may require the provision of the documents it needs on paper.

It is desirable for the auditor to have an idea about the technical, software, mathematical and other types of computer equipment, as well as economic information processing systems. If the auditor does not have this knowledge, the work of an expert in the field of information technology should be used.

The following factors may influence the amount of audit risk when conducting an audit under the conditions of a code of conduct:

a) the organizational form of data processing, for example: whether the processing is carried out by a special unit (computer center, information and computer center, department of an automated enterprise management system) or computers are installed at the workplaces of accounting personnel and data processing is carried out directly by accountants; whether the processing of data is carried out by the economic entity independently or is carried out under an agreement with a third party;

b) the form of the software product (developers);

c) accounting sections and sections operating in the COD environment (degree of computerization);

d) the COD system is located on one or several computers;

e) processing of credentials is carried out locally on each computer or a network option is used;

e) ensuring archiving and storage of data;

g) data transmission is carried out: using communication channels, via external media (for example, floppy disks) or data is entered from the keyboard.

The auditor is obliged to check the compliance of the applied algorithms with the requirements of regulatory documentation for accounting and preparation of financial statements for the main automated calculations of an economic entity.

Sources of obtaining audit evidence in the course of audit procedures are data prepared in the COD system of an economic entity in the form of tables, statements, accounting registers of an economic entity. The auditor has the opportunity to use them, their copies, including photocopies, as the working documentation of the audit, accompanying the processing of these documents with links, notes, special characters. In the case of the auditor working directly in the COD system of an economic entity (without printing data), working documents confirming the fact of collecting audit evidence are compiled by the auditor independently.

The presence of the COD system does not release the economic entity from the obligation to document the facts of economic life in the prescribed manner.

Topic 8. FINAL STAGE OF THE AUDIT

8.1. Informing management of the results of the audit

Federal Auditing Standard No. 22 "Disclosure of information obtained as a result of an audit to the management of the audited entity and representatives of its owner" establishes uniform requirements for the communication of information obtained from the results of the audit of financial (accounting) statements to the management (executive employees) of the audited entity and representatives of the owner this person.

Information is information that became known to the auditor during the audit of the financial (accounting) statements, which, in the opinion of the auditor, are simultaneously important for the management and representatives of the owner of the audited entity in their control over the preparation of reliable financial (accounting) statements of the audited entity and disclosure of information in her. Information includes only those matters that come to the auditor's attention as a result of the audit. The auditor is not required during the course of the audit to develop procedures specifically directed to finding information relevant to the management of the entity being audited.

The auditor must communicate information to management and representatives of the owner of the entity being audited. The management of the audited entity is the persons responsible for the day-to-day management of the audited entity, as well as the implementation of financial and business operations, accounting and preparation of financial (accounting) statements (for example, general director, financial director, chief accountant). Representatives of the owner of the audited entity are persons or collegiate bodies that exercise general supervision and strategic management of the activities of the audited entity, and also, in accordance with the constituent documents, can control the current activities of its management, including appointing or dismissing representatives of senior management.

The contract for the provision of audit services (letter on the audit) may also:

a) indicate the form in which the information will be communicated;

b) appropriate recipients of information are identified;

c) specific audit issues of interest to the management of the audited entity are identified, with respect to the communication of information about which an agreement has been reached.

The auditor should review the information and communicate information of interest to the management of the entity being audited to the appropriate recipients of such information. As a rule, such information reflects:

a) the auditor's overall approach to the audit and its scope, the auditor's concerns about any limitations on the scope of the audit, and comments on the appropriateness of any additional requirements from the entity's management;

b) selection or change by the management of the audited entity of the principles and methods of accounting policies that have or may have a significant impact on the financial (accounting) statements of the audited entity;

c) the possible impact on the financial (accounting) statements of the audited entity of any significant risks and external factors that must be disclosed in the financial (accounting) statements (for example, litigation);

d) significant adjustments proposed by the auditor to the financial (accounting) statements, both made and not made by the entity being audited;

e) material uncertainties relating to events or conditions that may significantly cast doubt on the entity's ability to continue as a going concern;

f) disagreements between the auditor and the management of the audited entity on issues that, individually or in the aggregate, may be significant for the financial (accounting) statements of the audited entity or the audit report. Information provided in this regard should include an explanation of the importance of the issue and whether the issue has been resolved or not;

g) proposed modifications to the auditor's report;

h) other issues deserving the attention of the owner's representatives (for example, significant shortcomings in the field of internal control, issues related to the integrity of the management of the audited entity, as well as cases of management fraud);

i) issues, the coverage of which is agreed by the auditor with the audited entity in the contract for the provision of audit services (letter on the audit).

Information must be communicated in a timely manner, orally or in writing (depending on prior arrangements). The auditor is obliged to comply with the requirements of the legislation of the Russian Federation and the Code of Ethics of Auditors of Russia regarding the confidentiality of information obtained as a result of the audit. In some cases, potential conflicts between the auditor's ethical and legal obligations of confidentiality and disclosure requirements can be complex.

8.2. Audit report

According to the Federal Audit Standard No. 6 "Auditor's Report on Financial (Accounting) Statements", an auditor's report is an official document intended for users of the financial (accounting) statements of audited entities, drawn up in accordance with this rule and containing the opinion of an audit organization or an individual expressed in the prescribed form the auditor on the reliability of the financial (accounting) statements of the audited entity and the compliance of the accounting procedure with the legislation of the Russian Federation. The standard defines all the main elements of the auditor's report.

The auditor's report must be addressed to the person stipulated by the legislation of the Russian Federation and (or) the audit agreement. As a rule, the audit report is addressed to the owner of the audited entity (shareholders), the board of directors, etc. and must contain a list of the audited financial (accounting) statements of the audited entity, indicating the reporting period and its composition.

The auditor's report must indicate that the audit was conducted on a selective basis, and it must contain a statement by the auditor that the audit provides sufficient grounds for expressing an opinion on the reliability in all material respects of the financial (accounting) statements and the compliance of the accounting procedure with the legislation of the Russian Federation .

The audit report must be signed by the head of the auditor or a person authorized by the head and the person who conducted the audit (the person who led the audit), indicating the number and validity of his qualification certificate. These signatures must be sealed. The auditor's report is accompanied by financial (accounting) statements, in respect of which an opinion is expressed and which is dated, signed and sealed by the audited entity in accordance with the requirements of the legislation of the Russian Federation regarding the preparation of such statements.

The standard provides for two main types of opinion: unconditionally positive and modified.

An unconditionally positive opinion should be expressed when the auditor comes to the conclusion that the financial (accounting) statements give a reliable view of the financial position and results of financial and economic activities of the audited entity in accordance with established principles and methods of accounting and financial preparation. accounting) reporting in the Russian Federation. In this case, the final part will contain the following phrase: “In our opinion, the financial (accounting) statements of the organization “YYY” reflect reliably in all material respects the financial position as of December 31, 20 (XX) and the results of financial and economic activities for the period from 1 January to December 31, 20(XX) inclusive."

The auditor's report is considered modified if:

a) factors that do not affect the auditor's opinion, but are described in the auditor's report in order to draw the attention of users to any situation that has developed with the audited entity and disclosed in the financial (accounting) statements;

b) Factors affecting the auditor's opinion, which may cause:

▪ to an opinion with a reservation. In this case, the final part will contain the following phrase: “Without changing our opinion on the reliability of the financial (accounting) statements, we pay attention to the information... and the listing of reasons or errors”;

▪ disclaimer of opinion, which occurs in cases where the limitation of the scope of the audit is so significant and profound that the auditor is unable to obtain sufficient evidence and, therefore, is unable to express an opinion on the reliability of the financial (accounting) statements;

▪ an adverse opinion, which should be expressed only when the effect of any disagreement with management is so material to the financial statements that the auditor concludes that qualifying the auditor's report is not adequate to disclose the misleading or incomplete nature of financial (accounting) statements. In this case, the final part will contain the following phrase: “In our opinion, due to the influence of these circumstances, the financial (accounting) statements of the organization “YYY” do not reliably reflect the financial position as of December 31, 20 (XX) and the results of financial and economic activities for the period from 1 January to December 31, 20(XX) inclusive."

As an example, here is a sample audit report expressing an unqualified opinion:

Example

AUDITOR'S REPORT ON FINANCIAL (ACCOUNTING) STATEMENTS

Auditor seal.

8.3. The date of signing the auditor's report and reflecting in it the events that occurred after the date of preparation and presentation of financial statements

The auditor should take into account the impact on the financial statements and the auditor's report of events after the reporting date, both favorable and unfavorable.

Events prior to the date of the auditor's report. The auditor should perform procedures to obtain sufficient appropriate audit evidence that all events prior to the date of the auditor's report that may require adjustments to or disclosures in the financial statements have been identified. These procedures are performed in addition to the normal procedures that may be applicable to specific transactions occurring after the end of the reporting period in order to obtain audit evidence about account balances at the end of the period, for example, assessing the correctness of attributing inventory transactions to reporting periods. or testing payments to creditors.

Events after the date of the auditor's report. During the period beginning from the date of the auditor's report, management is responsible for informing the auditor of facts that may affect the financial statements.

If, after the date of the auditor's report, the auditor becomes aware of a fact that could have a material effect on the financial statements, the auditor should determine whether the financial statements need to be amended, discuss the matter with management, and take action as appropriate in the circumstances.

If management amends the financial statements, the auditor should carry out the procedures necessary in the circumstances and provide management with a new auditor's report on the amended financial statements. The new auditor's report must be dated no earlier than the date of signing or approval of the amended financial statements.

If management does not make changes to the financial statements while the auditor believes they should, and the auditor's report has not yet been provided to the entity, the auditor should express a qualified or adverse opinion.

If the auditor's report is issued to the entity, the auditor must notify those responsible for the overall management of the entity that the entity should not present the financial statements and the auditor's report thereon to third parties. If the financial statements are subsequently made available to third parties, the auditor should take the steps necessary to ensure that such third parties do not rely on the auditor's report. The action taken will depend on the legal rights and obligations of the auditor, as well as on the advice of the auditor's lawyers.

Events discovered after the release of financial statements. Once the financial statements have been issued, the auditor has no obligation to make any inquiries regarding those financial statements.

If, after the issuance of the financial statements, the auditor becomes aware of an event or fact that existed at the date of the auditor's report, as a result of which, if such a fact were then known, the auditor would have to modify the auditor's report, the auditor should consider the need to revise the financial statements, discuss it with the entity's management and take action that is appropriate in the circumstances.

If management revises the financial statements, the auditor should perform the necessary audit procedures in the circumstances, review the actions taken by management to communicate the situation to all those who received the previously presented financial statements along with the auditor's report thereon, and issue a new opinion on the revised financial statements.

The new auditor's report should include a paragraph drawing attention to the issue regarding a note to the financial statements, which sets out in more detail the reasons for the revision of the previously presented financial statements and the auditor's report. The new auditor's report should be dated no earlier than the date of approval of the revised financial statements.

If management does not take the necessary steps to inform all those who have received previously submitted financial statements and the auditor's report of the situation and does not revise the financial statements, while the auditor considers that a revision is necessary, the auditor should notify those responsible for general management. the entity that the auditor will take the steps necessary to ensure that third parties do not rely on the auditor's report. The action taken will depend on the legal rights and obligations of the auditor, as well as on the advice of the auditor's lawyers.

The need to revise the financial statements and issue a new auditor's report may not arise if the date of issue of the financial statements for the next period is approaching, provided that the information in the new statements is properly disclosed.

Decision on the issue of securities. In cases where securities are issued, the auditor should take into account the legal and related requirements imposed on the auditor by the legislation in which the placement of securities takes place. For example, the auditor may be required to perform additional audit procedures covering the period up to the date of issue of securities.

8.4. Audit secrecy

Auditing organizations and individual auditors are required to maintain secrecy about the transactions of audited entities and individuals who were provided with services related to the audit.

Auditing organizations and individual auditors are obliged to ensure the safety of information and documents received and (or) compiled by them in the course of audit activities, and are not entitled to transfer the specified information and documents or their copies to third parties or disclose them without the written consent of organizations and (or) individual entrepreneurs , in respect of which the audit was carried out and services related to the audit were provided, with the exception of cases provided for by the legislation of the Russian Federation.

The federal executive body in charge of state regulation of audit activities, self-regulatory audit associations, persons exercising external quality control in auditing, and other persons who have gained access to information constituting an audit secret in accordance with the Law on Audit Activity and other federal laws are required to keep confidentiality of such information.

In case of disclosure of information constituting an audit secret by an audit organization, an individual auditor, as well as other persons who have gained access to information constituting an audit secret, the audited entity or the person to whom services related to the audit were provided, as well as audit organizations and individual auditors have the right to demand from guilty person to compensate for the damages caused.

The documents at the disposal of the audit organization and the individual auditor, containing information about the operations of the audited entities and persons with whom an agreement has been concluded for the provision of services related to the audit, are submitted exclusively by a court decision to authorized persons or state authorities of the Russian Federation in cases provided for by the legislative acts of the Russian Federation on their activities. It is also necessary to take care of the safety of documents received and (or) compiled by him in the course of audit activities. The auditor is not entitled to transfer this information, documents or their copies to any third parties or disclose the information contained in them orally without the written consent of the audited persons, regardless of whether the transfer of documents or disclosure of the information contained in them will cause damage to the specified person. The obligation to maintain confidentiality must be observed by the auditor even after the end of the relationship between him and the person being audited. In addition, the auditor should ensure that the principle of confidentiality is respected by the personnel working under his supervision, as well as by persons engaged by him to provide advice and additional professional assistance in the audit. Thus, the auditor must maintain confidentiality in all cases, except for the transfer of the results of the audit to the auditees or bodies that ordered the audit.

To maintain the confidentiality and security of the contents of working papers and to preserve them in accordance with practical, legal and professional requirements, the auditor should retain records for at least five years after the audit.

Legislation on the protection of commercial secrets, based on the Constitution of the Russian Federation, includes the provisions of the Civil Code, the Criminal Code of the Russian Federation, the Labor Code and a number of other laws and by-laws.

The list of information and documents containing commercial secrets is not regulated by state regulations. They are determined by the owner (owner) of confidential information based on the specifics of the activities of each specific organization (the nature of its activities, organization, technology and management, composition and number of suppliers, market conditions, etc.). The development of a list of information constituting a commercial secret should be carried out by a permanent expert commission, which includes the heads and employees of the leading structural divisions of the organization. The list of confidential information not subject to disclosure should be included in the contract for the provision of audit services between the auditor and the person subject to audit. This list does not include information that, in accordance with the legislation of the Russian Federation, cannot be classified as confidential information (trade secret).

Publication or other disclosure of confidential information of the persons being inspected is not a violation of professional ethics if these actions were performed:

▪ in the case provided for by legislative acts or decisions of judicial authorities;

▪ with the permission of the person being inspected, subject to the interests of all parties that may be affected;

▪ in order to protect the professional interests of the auditor during an official investigation or private proceedings conducted by managers or authorized representatives of the persons being audited;

▪ in case of intentional and illegal involvement of the audit organization by the person being audited in actions contrary to legislative and professional standards.

Section II. AUDIT METHODOLOGY

Topic 9. AUDIT OF ACCOUNTING POLICIES

9.1. Goals and objectives of the accounting policy audit

The purpose of the audit of accounting policies is to form an opinion on the compliance of accounting policies with the norms of current legislation and to assess the reliability of the accounting statements of an organization (economic entity) based on the requirements specified in PBU 1/98 “On approval of the Accounting Regulations “Accounting Policies of the Organization””, approved by order of the Ministry of Finance of the Russian Federation dated December 09.12.1998, 60 No. XNUMXn. The following assumptions must also be taken into account:

1) property isolation of the organization;

2) the sequence of application of accounting policies;

3) temporal certainty of the facts of economic activity.

When conducting an audit, it is necessary to establish:

▪ availability and composition of administrative documents on accounting policies;

▪ compliance of the form and timing of acceptance of documents on accounting policies with the requirements of regulations;

▪ sequence of application of accounting policies;

▪ the presence of accounting methods that differ from those established by regulatory documents, but allow the organization to reliably reflect its property status and financial results;

▪ whether the accounting methods chosen during the formation of accounting policies, which significantly influence the assessment and decision-making of users of financial statements, are fully disclosed;

▪ compliance with accounting policies.

The purpose of familiarization with the accounting policy during the audit is to study and evaluate the basic principles of organizing accounting and document management of the audited enterprise. At the same time, the presence and composition of the administrative documents that determine the accounting policy are established.

The information base for familiarization with the content of the accounting policy is:

1) an order (instruction, etc.) on the accounting policy of the audited organization;

2) working chart of accounts of accounting;

3) a list of approved forms of primary documents and forms of documents for internal financial statements;

4) rules of document circulation and technologies for processing accounting information;

5) approved methods for accounting for individual indicators and other annexes to the order on the accounting policy of the audited organization;

6) an explanatory note that discloses:

a) information related to the accounting policy of the organization;

b) accounting methods chosen in the formation of accounting policies that are different from the previous year;

c) changes in accounting policies that significantly affect the assessment and decision-making of users of financial statements in the reporting year or in the periods following the reporting year;

d) additional data on events after the reporting date and contingent facts of economic activity, termination of operations, affiliates, earnings per share.

Having studied and analyzed the presented information base, it is important to determine whether the attitude of the client's management to the formation and implementation of accounting policies is not formal. The presence of an order (instruction) on accounting policies and other administrative documents related to it, issued on time and correctly executed, cannot sufficiently indicate the use of accounting policies as a tool for managing an organization.

The auditor must check whether the procedure for adopting an accounting policy established by PBU 1/98 is observed:

1) whether an order (instruction) of the head of the organization on accounting policy has been issued (clause 9 PBU 1/98). It should be remembered that the newly created enterprise must draw up the chosen accounting policy no later than 90 days from the date of acquisition of the rights of a legal entity (state registration);

2) whether the working chart of accounts, the forms of non-standard primary documents used, the rules for document circulation and the technology for processing accounting information, the procedure for conducting an inventory and methods for assessing property, the procedure for controlling business transactions, etc. have been approved (clause 5 PBU 1/98);

3) whether an order was issued on additions to the accounting policy (clause 16 PBU 1/98);

4) whether an order was issued to change the accounting policy (clause 17 PBU 1/98).

Based on the requirements of paragraph 16 of PBU 1/98, additions to the accounting policy during the year can be made at the time the organization acquires assets or when facts of activity arise that have variation in the legislation, but have no analogues in the practice of this organization.

9.2. Changes in accounting policy

Changes in accounting policies may take place in the following cases:

1) a significant change in the conditions of activity (reorganization, change of owners, change in types of activities);

2) changes in Russian legislation or the regulatory system of accounting in Russia;

3) development by the organization of new methods of accounting.

Changes in accounting policies must be justified, and the consequences of changes that are not related to changes in the legislation of the Russian Federation, evaluated in monetary terms. To this end, the auditor may test the submitted order (instruction) on accounting policies.

9.3. Testing certain provisions of the accounting policy

Testing helps the auditor to identify which aspects of accounting policies are not fully reflected.

To assess the completeness and correctness of the provisions of the accounting policy, the auditor must make sure that the administrative documents on the accounting policy contain information that justifies the organization's choice of accounting methods:

▪ the variability of which is provided for by regulatory documents on accounting and reporting;

▪ which are not described in regulations;

▪ the variability of which arises from the inconsistency and imperfection of legislation;

▪ features of the application of accounting methods based on the specifics of business conditions, industry affiliation and other conditions.

If the organization independently develops certain accounting methods, then the auditor must check whether they comply with the assumptions and requirements established by accounting regulations.

Non-compliance of the provisions of the order (instruction) on accounting policy with the current regulations can be identified during testing. One of the reasons for such inconsistencies is the untimeliness of making adjustments due to changes in regulations.

Information about the accounting policy as an integral part of the explanations to the financial statements is one of the objects of the audit.

On the one hand, the audit process should establish the compliance of the chosen accounting policy with the nature and conditions of the organization's activities, as well as the current rules and generally recognized procedures. The auditor must evaluate the accounting methods used in terms of the rationality and efficiency of the accounting process built on their basis, the impact on the formation of a complete and reliable picture of the property and financial situation of the organization. At the same time, it is necessary to assess the compliance of the costs of implementing the accounting policy with the necessary need for information about the activities of the organization for management purposes. The results of such an audit as a whole should be reflected in the analytical part of the audit report and be confidential. Inconsistencies of a material nature should be reflected in the final part of the audit report.

On the other hand, the auditor needs to express his opinion on the reliability of the statements and their compliance with the real state of affairs in the organization. The auditor's opinion on the reliability of the reflection of accounting policies serves as the basis for the conclusions and actions of the counterparties of the organization. The user of financial statements must be sure of the reliability of not only numerical data, but also explanations for them, i.e. information that reveals the accounting policy on the basis of which the statements are generated.

The auditor's report confirming the reliability of financial statements should equally apply to information on accounting policies. When identifying inconsistencies between the explanations to the financial statements and the methods of accounting actually used by the organization, it is necessary to make special reservations in the final part of the audit report.

Topic 10. AUDIT OF CASH OPERATIONS

10.1. Goals and objectives of the audit of cash transactions

The purpose of the audit of cash transactions is to establish the compliance of the methodology used in the organization for accounting and taxation of cash flow transactions with the regulatory documents in force in the Russian Federation in the audited period in order to form an opinion on the reliability of financial statements in all material aspects.

This direction of the audit can be implemented during both mandatory and initiative audits, and can also be the subject of a separate agreement, but most often it is an integral part of the general audit agreement.

The stages of the audit of cash transactions can be organized in the following sequence:

▪ determination of the purpose and main objectives of the audit, a selection of regulations, compliance with which must be verified;

▪ drawing up an audit program (possibly using tests of controls) and a program of substantive procedures;

▪ determining the feasibility of using the results of internal audit work (if it is organized at the enterprise and covers this area);

▪ checking the organization of the cashier’s financial liability;

▪ documentary confirmation of the compliance of the balance sheet data under the item “Cash” and the Cash Flow Statement with the cash accounts, including those in the organization’s cash registers;

▪ documenting significant violations of accounting, reporting, and compliance with laws;

▪ informing the management of the audited entity about identified deficiencies and obtaining written explanations from them;

▪ control over the audited entity making corrections to registers and reporting forms.

The auditor must first of all determine the compliance of the audited business transactions and documents related to their execution with the norms of the current legislation. In this case, the following regulatory documents must be taken into account:

▪ The procedure for conducting cash transactions in the Russian Federation, approved by decision of the board of directors of the Central Bank of the Russian Federation dated September 22.09.1993, 40 No. XNUMX;

▪ Regulations of the Central Bank of the Russian Federation dated January 05.01.1998, 14 No. XNUMX-P “On the rules for organizing cash circulation on the territory of the Russian Federation”;

▪ Guidelines for inventory of property and financial obligations, approved by order of the Ministry of Finance of the Russian Federation dated June 13.06.1995, 49 No. XNUMX;

▪ letter of the Ministry of Finance of the Russian Federation dated February 12.02.2002, 3 No. 01-01-11/ 71-XNUMX “On the procedure for establishing a limit on the cash balance and obtaining permission to spend cash from proceeds.”

It is advisable to check cash transactions using the continuous method. This is due to the mobility of these assets and their susceptibility to abuse.

10.2. Checkout program for cash transactions and testing of the control system

When drawing up an audit program, one should evaluate the effectiveness of internal control over the movement and safety of cash and other valuables at the organization's cash desk. With the help of testing, the auditor gives a preliminary assessment of compliance with cash discipline in the organization, identifies the most vulnerable areas, plans the composition of the main control procedures, and determines the features of accounting in the organization. The following facts may indicate the insufficient effectiveness of internal control:

▪ the absence in the organization of a manager’s order establishing the frequency of cash register checks;

▪ the absence in the organization of a permanent system for conducting sudden cash inventories;

▪ presence of signs of a formal inventory of the cash register (the cashier has been warned);

▪ absence of a cashier on staff, when these functions are assigned to another employee without a written order from the head of the organization;

▪ absence of an agreement on full financial liability with the cashier;

▪ granting the right to sign incoming and outgoing cash orders to other persons besides the head of the organization and the chief accountant, which is not reflected by the order of the head of the organization.

A low assessment of the effectiveness of internal control will require an increase in the scope of the audit and increased attention to this area of ​​the audit.

The control test program is a list of a set of actions designed to collect information about the functioning of the internal control and accounting system.

When planning an audit of a particular enterprise, the list of issues in order to determine the effectiveness of internal control and ensure the safety of funds and the reliability of the reflection of cash transactions in accounting may be modified. Let's give an approximate list of issues, when forming an opinion on which the auditor should identify positive and negative facts.

10.3. Organization of the working stage of the verification

The working stage of checking cash transactions can be completed in the following sequence:

▪ cash register inventory;

▪ checking the correctness of documentation of transactions;

▪ checking the completeness and timeliness of cash receipts;

▪ audit of the correctness of writing off money as an expense;

▪ checking compliance with cash discipline;

▪ checking the correctness of the reflection of transactions in the accounting accounts;

▪ registration of inspection results.

These areas allow you to obtain audit evidence for all the main parameters proposed in the Federal Auditing Standard No. 5 "Audit Evidence".

To implement the general audit plan, an Audit Program is drawn up, in which more detailed areas of control and analysis of the cash flow in the organization can be provided. In accordance with the Federal Auditing Standard No. 3 "Audit Planning", it can be drawn up in the form of a program of tests of controls and audit procedures on the merits. Programs help to identify significant deficiencies, being an integral part of the working documentation of the audit, contribute to documenting the audit process and its results.

10.4. Checking the execution of primary documents

When conducting an audit, in order to achieve the goal of "reliability", it is necessary to pay special attention to the correct filling of primary documents, the presence and authenticity of signatures (performed if possible) of the recipients of money on cash receipts. Documents for the issuance of money must be signed by the head and chief accountant of the enterprise or persons authorized to do so.

Documents must be clearly and correctly drawn up: without corrections, with the receipts of the recipients, canceled with the stamp "Paid" with the date indicated. The legitimacy and validity of cash payments made from the cash desk are checked. In accordance with the Procedure for conducting cash transactions, the issuance of money from the cash desk, which is not confirmed by the receipt of the recipient in the cash order, is not accepted to justify the expenditure of cash at the cash desk. This amount is considered a shortage and is subject to recovery from the cashier. In addition, the facts of signing expenditure cash documents by only one manager or chief accountant are revealed. Of great importance is the correctness of entries in accounting, in particular the facts of correcting errors associated with the unlawful reflection of a business transaction in accounting accounts, leading to an underestimation or overestimation of sales proceeds.

Cash that is not confirmed by incoming cash orders is considered cash surplus and is credited to the income of the enterprise. They may also indicate the facts of incomplete crediting of cash proceeds from counterparties.

The cashier, in accordance with the current legislation, is fully liable for the safety of all the values ​​​​accepted by him and for the damage caused to the organization. An agreement on full liability must be concluded after the head issues an order (decision, resolution) on the appointment of a cashier to work. However, at small enterprises, the duties of a cashier can be performed by the chief accountant or other full-time employee upon the written conclusion of the head and subject to the obligatory condition of concluding an agreement with him on full liability.

It is necessary to pay attention to the correctness of the cash book and the procedure for compiling cashier reports. The cash book must be of a standard form, stitched, sealed with an indication of the number of sheets. With the manual version of the cash book design, the numbering of sheets in each book can begin anew.

10.5. Checking registers and reporting forms

When checking the correctness of the reflection in the balance sheet of cash and cash as their component, the auditor compares the cash balances at the reporting date with the cash book and primary documents, and then with accounting registers in the form of journals-orders or replacing them with account cards, then with accounts in the General Ledger and balance sheet data. It should be noted that the accounting data should include performance indicators of all branches and other divisions of the organization.

In accordance with the Guidelines on the procedure for compiling and presenting financial statements (as amended by Order No. 31.12.2004n of the Ministry of Finance of the Russian Federation dated December 135, 5), an indicator is considered significant if its non-disclosure may affect the economic decisions of interested users taken on the basis of reporting information. The decision by the organization of the question of whether this indicator is significant depends on the assessment of the indicator, its nature, and the specific circumstances of occurrence. The organization may decide when an amount is recognized as material if the ratio of which to the total of the relevant data for the reporting year is at least XNUMX%.

Sub-accounts can be opened for account 50:

50-1 "Cash desk of the organization";

50-2 "Operating cash desk";

50-3 "Money documents"; and etc.

On subaccount 50-1, cash in the organization's cash desk should be taken into account. If the organization performs cash transactions with foreign currency, then to account 50 sub-accounts must be opened for separate accounting of the movement of foreign currency in cash for each item. Operations in the cash book are reflected both in the currency of payment and in its ruble equivalent at the exchange rate of the Bank of Russia on the date of the operation.

Subaccount 50-2 "Operating cash desk" is opened to account for the availability and movement of funds by organizations, if necessary.

Sub-account 50-3 "Money documents" takes into account postage stamps, state duty stamps, promissory notes, paid air tickets and other monetary documents that are in the cash desk of the organization. Monetary documents are accounted for on account 50 in the amount of actual acquisition costs. Analytical accounting of monetary documents should be organized by their types.

10.6. Features of computerized accounting of cash transactions

In the conditions of automated accounting of the cash book, the numbering should be continuous from the beginning of the year. In addition, the correct operation of the software for processing cash documents should be checked. It should be remembered that the contract for audit services provides for the consent of the economic entity to use the database. The presence of a COD system does not relieve an economic entity from the obligation to document, in the prescribed manner, the facts of economic life in general and cash transactions in particular. However, it is possible for the auditor to perform procedures on copies of computer files if there is confidence that they match the originals. When checking the reliability of internal controls in the COD system, the auditor should pay attention, among other things, to the possibility of changing the software in terms of methods for registering primary information.

The audit evidence obtained by the auditor directly as a result of the study of business operations, independent analysis are considered the most valuable. The auditors have the right to check in full not only the documentation, but also the actual presence of any property, money, securities, material assets, and the economic entity is obliged to create conditions for the auditor to conduct the audit in a timely and complete manner.

10.7. Checking the correctness, timeliness and completeness of posting cash

Cash flows to the cash desk of the enterprise from banks in the form of cash proceeds from customers, from employees of the organization in payment for any services on applications, as the balance of unused accountable amounts, etc.

The auditor checks the completeness and timeliness of the posting of money received for each check from the bank by reconciling identical amounts recorded in the check stubs and bank statements (according to the code corresponding to the receipt of cash).

The auditor must carefully check the completeness of the posting of proceeds from the sale of products, goods, works. In this case, you should check the entries in the cash book, incoming cash orders with reports, invoices and invoices (invoices).

The grossest violation of cash settlements between enterprises is the non-receipt and misappropriation of funds received from various individuals and legal entities on credit orders, as well as amounts of money from banks. To identify cases of misappropriation of funds, a simultaneous check of cash and bank transactions, as well as with settlement accounts, is carried out.

A continuous view of all cash receipts and debit orders attached to the cashier's report for a certain day allows you to identify a list of documents whose details do not match the Register of receipt and debit cash orders. These facts are reflected in the working papers of the auditor.

Next, it should be established whether all incoming and outgoing cash orders are registered in the registers of incoming and outgoing cash orders; whether these amounts coincide with those indicated in the registration log, what is the source of receipt of funds, whether the dates of receipt and issuance of money on cash orders coincide with the dates of their compilation.

Unfair actions of the audited entity are possible as a result of poor-quality preparation of primary cash documents. Arithmetic errors in the statements and cash reports lead to the formation of an artificial surplus of money in the cash register; to identify them, the auditor uses the recalculation of the totals of all cash reports and all payrolls. Auditing practice shows that the largest number of violations in the expenditure of funds from the cash desk is associated with cash payments to employees and accountable amounts.

10.8. Checkout inventory

One of the most valuable sources of audit evidence is the results of the cash register inventory conducted jointly or independently by the auditor. An inventory of funds at the cash desk should be carried out periodically by order of the head of the organization and before the preparation of the annual report, not earlier than October 31. The inventory carried out by the commission appointed by the head is drawn up by an act. It is carried out in the presence of the cashier and the chief accountant of the organization. If there are several cash desks, the auditor seals them so that it is impossible to cover the shortage of money from other sources, to change the balance of money displayed in the cash book. The cashier submits for verification the last cash report and documents on the transactions of the last day, and also gives a receipt that all receipts and expenditure documents are included in the report and by the time of the inventory there are no uncredited or unwritten money in the cash desk.

Surplus funds are credited as income of the enterprise (debit of account 50, credit of account 91 "Other income and expenses", subaccount 91-1 "Other income"). The shortage of funds is debited to account 94 "Shortages and losses from damage to valuables", from which it is then debited to account 73 "Settlements with personnel for other operations", subaccount 73-2 "Calculations for compensation of material damage". According to the credit of accounts 73, entries are made in the correspondence of cash accounts - for the amount of payments made; 70 "Settlements with personnel for wages" - for the amount of deductions from wages. If the cashier refuses to pay the shortage, the organization has the right to file a claim with the judicial authorities.

The results of the inventory are drawn up in an act signed by the cashier and the chief accountant of the organization. The act serves as written audit evidence, and its data are necessary for the auditor for further verification.

Simultaneously with the inventory, the conditions for storing funds and their compliance with the prescribed standards are checked.

10.9. Checking compliance with the cash balance limit at the cash desk

At the cash desk of enterprises, cash can be kept within the limits established by the banking institutions servicing them in agreement with the heads of these enterprises. The limit of the balance of cash in the cash register is set annually by banking institutions for all enterprises, regardless of the legal form and field of activity, that have a cash desk and carry out cash settlements.

The cash limit is reviewed at the beginning of each year. To do this, the bank submits a calculation in the form No. 0408020, given in Appendix 1 of the Regulation on the rules for organizing cash circulation in the Russian Federation dated 05.01.1998 No. 14-P. The same form can also be submitted to increase the limit during the year, as a rule, this is required if the organization has a significant increase in cash receipts.

If an enterprise has several accounts in various banking institutions, the enterprise, at its discretion, applies to one of the servicing institutions of banks with the expectation of setting a limit on the balance of cash on hand. After setting the cash balance limit in one of the bank institutions, the enterprise sends a notification about the cash balance limit determined to it to other bank institutions in which the corresponding accounts are opened for it.

Organizations are obliged to hand over to the bank all cash in excess of the established limits on the balance of cash on hand in the manner and terms agreed with the servicing banks. Organizations that have a constant income, in agreement with the banks serving them, can spend it on wages, social and labor benefits, the purchase of agricultural products, the purchase of containers and things from the population.

If the amount of cash on hand exceeds the limit, then the money can be deposited directly at day or evening cash desks of banks, as well as collectors (clause 6 of the Procedure for Conducting Cash Transactions in the Russian Federation, approved by the decision of the Board of Directors of the Central Bank of the Russian Federation dated September 22.09.1993, 40 No. XNUMX).

For an enterprise that has not submitted a calculation for setting a limit on the cash balance in the cash register to any of the bank's servicing institutions, the cash balance limit is considered zero, and the cash not handed over by the enterprise to the bank institutions is considered to be over the limit.

A certificate from the bank on the establishment of a limit on the balance of cash on hand must be submitted for the audit. Exceeding the established limits at the cash desk is allowed only for three working days during the period of payment of wages, bonuses, temporary disability benefits to employees of the organization (in the Far North - five days).

To check compliance with the cash balance limit set by the bank, it is necessary to carry out a complete check of the cash desk, identify deviations from the limit and draw up all conclusions.

10.10. Audit of collected funds

Cash can be handed over by enterprises on contractual terms through collection services of banking institutions or specialized collection services licensed by the Bank of Russia to carry out relevant operations for the collection of funds and other valuables (clause 2.2 of the Regulations on the rules for organizing cash circulation in the territory of the Russian Federation dated 05.01.1998 .14 No. XNUMX-P).

Cash packed in cash collection bags, special bags, cases, other means for packing money, ensuring their safety during delivery and not allowing them to be opened without visible traces of integrity damage, can be accepted by the bank from organizations through the bank's cash collection workers (clause 2.1.10. 1.14, 09.10.2002 of the Regulations on the procedure for conducting cash transactions in credit institutions on the territory of the Russian Federation, approved by the Central Bank of the Russian Federation on 199 No. XNUMX-P).

The cashier of the organization for each bag with ruble cash handed over to collectors writes out a forwarding statement (Appendix 8 to the Regulation on the procedure for conducting cash transactions). The first copy of the bill of lading is included in the bag; the second - the waybill to the bag - is transferred to the collector upon receipt of the bag; the third - a copy of the transmittal sheet - remains with the organization (clause 6.3.7 of the Regulation on the procedure for conducting cash transactions).

In this case, when recalculating the cash invested in the bag, the cashier of the bank revealed a dubious banknote, which, in accordance with clause 2.3.6 of the Regulations on the Procedure for Conducting Cash Operations, must be drawn up by an act on the front side of the transmittal sheet and the invoice to the bag signed by the cashier and controlling workers.

The amounts of money transferred to a credit institution through the collection service, but not credited to the current account, are recorded as cash in transit, which is reflected in the debit of account 57 "Transfers on the way" and the credit of account 50 "cash". This accounting entry is made before receiving a bank statement on the current account on the basis of an expenditure cash warrant and the third copy of the transmittal sheet.

The amount not credited to the settlement account of the organization, in the amount of the denomination of the banknote seized by the bank, is recognized as a shortage of valuables and debited from account 57 to the debit of account 94 "Deficiencies and losses from damage to valuables", which, according to the Instructions for using the Chart of Accounts, is intended to summarize information on the amounts of shortages and losses from damage to material and other valuables, regardless of whether they are subject to attribution to cost accounting accounts or to recovery from the guilty parties.

The amount of real damage from the acceptance by the cashier of a counterfeit banknote as payment for the goods sold, reimbursed by the guilty person (cashier), is not considered an expense in accounting and for profit taxation purposes, since there is no reduction in economic benefits (no costs) of the organization (paragraph 2 of PBU 10/99 "Expenses of organizations", approved by order of the Ministry of Finance of the Russian Federation of 06.05.1999 No. 33n, taking into account the grouping of expenses under Article 252 of the Tax Code).

10.11. Verification of compliance with the procedure for the use of cash registers

When making cash payments in the provision of services, the organization must use cash register equipment (hereinafter - CCP) included in the State Register (clause 1, article 2 of Federal Law No. 22.05.2003-FZ of May 54, XNUMX "On the use of cash registers technology in the implementation of cash settlements and (or) settlements using payment cards" (hereinafter referred to as the Law on the Application of Cash Registers)).

The auditor should take into account that organizations and individual entrepreneurs, in accordance with the procedure determined by the Government of the Russian Federation, can carry out cash settlements and (or) settlements using payment cards without the use of cash registers in the case of providing services to the public, provided that they issue the appropriate strict reporting forms.

The procedure for approving the form of strict reporting forms equated to cashier's checks, as well as the procedure for their accounting, storage and destruction are established by the Government of the Russian Federation.

Consequently, an organization can have only one main cash desk and, depending on the number of cash registers, several operating rooms. For each CCP object, a separate cashier-operator book should be kept, which reflects only data on revenue received through a specific cash register (hereinafter - CCM). Note that the actual number of cash registers must correspond to accounting data. When checking the book of the cashier-operator, you need to pay attention to the records of the counters of not only operating machines, but also inactive ones, as well as those in stock. The indicators of meters with which KKM left the repair require close attention.

Tax authorities:

1) exercise control over compliance by organizations and individual entrepreneurs with the requirements of the Law on the Application of CCPs;

2) exercise control over the completeness of accounting for revenue in organizations and individual entrepreneurs;

3) check the documents related to the use of CRE by organizations and individual entrepreneurs, receive the necessary explanations, certificates and information on issues arising during the conduct of checks;

4) conduct checks on the issuance of cash receipts by organizations and individual entrepreneurs;

5) impose fines in the cases and in the manner established by the Code of Administrative Offenses, on organizations and individual entrepreneurs who violate the requirements of the Law on the Application of CCP.

10.12. Audit of cash documents at the cash desk

Postage stamps and other monetary documents in the cash desk of the organization are accounted for in accordance with the Instructions for the Application of the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations, approved by Order of the Ministry of Finance of the Russian Federation No. 31.10.2000n dated October 94, 50, on account 50 "Cashier", subaccount 3-XNUMX "Money Documents". Cash documents are taken into account in the amount of actual acquisition costs. Analytical accounting of monetary documents is carried out by their types. Accounting for the acquisition and expenditure of postage stamps can be made on the basis of a register of receipt and issuance of monetary documents, which organizations can maintain in any form.

In accordance with paragraph 2 of Art. 9 of the Federal Law of November 21.11.1996, 129 No. XNUMX-FZ "On Accounting", primary accounting documents, the form of which is not provided for in the albums of unified forms of primary accounting documentation, must contain the following mandatory details:

1) the name of the document;

2) date of drawing up the document;

3) the name of the organization on behalf of which the document is drawn up;

4) the content of the business transaction;

5) measuring instruments of economic transactions in physical and monetary terms;

6) the names of the positions of the persons responsible for the performance of the business transaction and the correctness of its execution;

7) personal signatures of the said persons.

Consequently, the register of receipt and issuance of monetary documents, the form of which is established by the organization, must contain the above details.

Operations for the issuance of monetary documents are documented by an entry in the register of receipt and issuance of monetary documents. Primary documents, on the basis of which accounting entries are made on subaccount 50-3, are not reflected in the cash book.

10.13. Responsibility of the management of the audited entity for organizing the accounting of cash transactions

The management of the economic entity is responsible for the development of the internal control system. The auditor needs to be convinced that on the economic subject checked by it procedures of internal control are applied.

The procedure for conducting cash transactions provides for the duties of the heads of organizations:

1) equip the cash desk and ensure the safety of money in the cash desk, as well as when they are delivered from the bank institution and delivered to the bank. At the same time, the storage of cash and other valuables that do not belong to this organization at the cash desk is prohibited;

2) ensure the maintenance of one cash book;

3) accept cash when making settlements with the population with the obligatory use of cash registers.

The presence at the enterprise of a list of persons approved by the order of the head of the list of persons who can be issued cash from the cash desk for household needs, the execution by employees of "applications for the issuance of money", an indication in the permit inscription of the head of the enterprise or an authorized person of the period for which they are issued, prevent abuse.

By identifying violations of cash discipline, the auditor can assess the amount of financial sanctions that can be imposed on the audited entity in the event of its audit, and compare them with the materiality level determined for this audit section and with the financial result of the enterprise.

Having identified significant issues that require the auditor's professional judgment, together with the conclusions made on these issues, the auditor reflects them in the working documentation in accordance with the Federal Rule (Standard) of Auditing Activity No. 2 "Audit Documentation".

Written information (report) on the results of the audit is submitted by the auditor to the management of the economic entity in the event of a mandatory audit. Interim information may be communicated orally or in writing during the audit process. Based on the results of the audit, a preliminary version of the written information of the auditor may be prepared, which may express a requirement to make corrections to the accounting data and a list of clarifications to the already prepared financial statements. The management of the economic entity may prepare a written response to the preliminary version. The audit organization in the final version of the written information must evaluate the corrections made, which are of a significant nature.

The descriptive part of the audit report (management letter) should contain the results of the audit in the following main areas:

1) the state of the internal control system;

2) the state of accounting and reporting;

3) compliance with the law when the audited entity performs business transactions;

4) identified violations and recommendations for their correction.

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.

Topic 12. AUDIT OF FIXED ASSETS AND INTANGIBLE ASSETS

12.1. Goals and objectives of the audit of fixed assets and intangible assets

The purpose of the audit of fixed assets is to form a reasonable opinion on the reliability and completeness of information about fixed assets, reflected in the financial statements of the audited organization and explanations to it.

The purpose of the audit of intangible assets is to form a reasonable opinion on the reliability and completeness of information about them, reflected in the financial statements of the audited organization.

The audit is carried out in accordance with the Law on Auditing and Federal Auditing Standard No. 1 "The Purpose and Basic Principles of Auditing Financial (Accounting) Statements".

During the audit of fixed assets and intangible assets, unless otherwise provided by the audit plan, auditors may also consider related areas of accounting and reporting items.

An audit of fixed assets, like an audit of intangible assets, can be performed in several stages, including:

▪ determination of the purpose and objectives of the audit;

▪ planning and development of an audit work program;

▪ drawing up an audit report (written information to the management of the audited entity);

▪ development of recommendations and proposals for optimization of accounting.

To achieve the goal, the auditor must:

1) evaluate the internal control system of the client organization;

2) determine the verification methods;

3) develop a program of audit procedures on the merits.

12.2. Assessment of the accounting and internal control system

To develop an effective approach to the audit of fixed assets and intangible assets, a preliminary assessment of the internal control system is carried out at the planning stage, which is confirmed or adjusted during the audit. Testing procedures consist in assessing the internal control system, which consists of the control environment (management's attitude to the control system, to the creation of control conditions), controls and the accounting system.

In evaluating the internal control system, the auditor should:

▪ check the availability and validity of administrative documents establishing the methods of accounting for transactions related to the movement of fixed assets and intangible assets;

▪ carry out an examination of the procedure for documenting the facts of economic activity, study the approved schedules and document flow diagrams;

▪ analyze the compliance of the used accounting form;

▪ check the availability of tax accounting registers;

▪ establish whether the established procedure for the preparation and presentation of internal financial statements is being followed, summarize information on the composition, scale and nature of transactions in the period under review.

To assess the reliability of the accounting and internal control system, the auditor may apply testing. It is advisable to separate some tests into separate blocks (for example, the correctness of the calculation of depreciation charges, etc.).

12.3. Plan and program for the audit of fixed assets and intangible assets

When planning an audit, first of all, a work program is drawn up, which contains the legal and economic characteristics of the organization, a list of sources of audit evidence, tests of the internal control system and audit procedures. The characteristics of the organization should include information on the legal status, degree of technical equipment, scope of activities, location, presence of trade relations, etc.

It is advisable to include the following control procedures in the audit program:

▪ checking compliance with the conditions for classifying property as fixed assets and intangible assets;

▪ assessment of safety and checking of availability (inventory or its results);

▪ verification of documentation;

▪ checking the correctness of the formation of the initial (replacement) cost;

▪ checking the validity and amount of depreciation in accounting and tax accounting;

▪ verification of operations with fixed assets within the framework of concluded leasing agreements;

▪ analysis and summarization of audit results.

12.4. Methods for Obtaining Audit Evidence

The auditor obtains evidence using the following methods.

The information base used by the auditor when checking fixed assets and intangible assets includes:

▪ basic regulatory documents governing the organization of accounting and taxation;

▪ order on the accounting policy of the organization;

▪ primary documents for recording transactions;

▪ registers of synthetic and analytical movement accounting used in the organization;

▪ financial statements.

Operations with fixed assets and intangible assets can be broadly grouped into three groups:

1) acquisition (receipt);

2) operation process (depreciation charge);

3) disposal (write-off).

Statement on the basis of which the financial statements are prepared: 1. Existence / rights / completeness

1. Make sure that all fixed assets (PP) and intangible assets (IA) reflected in the reporting really exist.

2. Make sure that the rights of the organization are confirmed and not limited by the rights of third parties.

Proposition 2: Existence/evaluation/representation and disclosure

1. Make sure that fixed assets and intangible assets meet the criteria for assets, that is, they have not lost their ability to bring economic benefits to the organization.

2. Make sure that all fixed assets and intangible assets are evaluated and reflected in the financial statements in accordance with the accounting policy adopted by the organization and the current legislation.

3. Make sure that depreciation of fixed assets and intangible assets is accrued in accordance with the accounting policy adopted by the organization.

Statement 3. Occurrence/Measurement/Evaluation

1. Make sure that all acquired fixed assets and intangible assets are reflected in accounting and reporting in the correct assessment and in the appropriate reporting period.

2. Make sure that all expenses and incomes associated with the disposal of fixed assets and intangible assets relate to the reporting period and are accounted for correctly.

Proposition 4: Representation and disclosure

1. Make sure that all material information about fixed assets and intangible assets is disclosed in the financial statements.

12.5. Acquisition of fixed assets

In accordance with paragraphs 7, 8 PBU 6/01 "Accounting for fixed assets", approved by order of the Ministry of Finance of the Russian Federation dated March 30.03.2001, 26 No. XNUMXn, fixed assets are accepted for accounting at their original cost, which, when acquiring objects for a fee, is recognized as the amount of actual costs organizations for the acquisition, construction and manufacture, with the exception of VAT and other refundable taxes (except for cases provided for by the legislation of the Russian Federation).

Before the object is accepted for accounting under account 01 "Fixed assets" in accordance with the Chart of Accounts for accounting of financial and economic activities of organizations and the Instructions for its application, approved by order of the Ministry of Finance of the Russian Federation dated October 31.10.2000, 94 No. 08n, account 08 "Investments in non-current assets" is used, which is designed to summarize information about the organization's costs into objects that will subsequently be accepted for accounting as OS. Acquisition costs are reflected in the debit of account 08, subaccount 4-60 "Acquisition of fixed assets", in correspondence with account XNUMX "Settlements with suppliers and contractors".

The amount of VAT payable to the seller is reflected in the debit of account 19 "Value added tax on acquired valuables", subaccount 19-1 "Value added tax on the acquisition of fixed assets", in correspondence with account 60. When paying off debt to the seller in the accounting an entry is made on the debit of account 60 and the credit of account 51 "Settlement accounts".

The auditor must obtain confirmation of ownership of fixed assets, while he must take into account that in some cases (for example, the acquisition of buildings, warehouses and other immovable objects), state registration of the right is required. In accordance with paragraph 41 of the Regulation on accounting and financial reporting in the Russian Federation, approved by order of the Ministry of Finance of the Russian Federation dated July 29.07.1998, 34 No. 2n, the costs of acquiring premises that are not executed with documents confirming the state registration of real estate in cases established by law, include to unfinished capital investments. For registration of rights to real estate, a fee is charged in the amounts established by the constituent entities of the Russian Federation (clause 11, article 21.07.1997 of the Federal Law of July 122, XNUMX No. XNUMX-FZ "On State Registration of Rights to Real Estate and Transactions with It").

After the completion of all preparatory work to prepare the fixed assets for operation, the assignment of an inventory number, on the basis of the relevant commissioning act, the asset is accepted for accounting as part of fixed assets, which is reflected in the entry in the debit of account 01 "Fixed assets" and the credit of account 08.

12.6. Leasing of fixed assets

Operations for the acquisition of fixed assets on lease are now widespread, which is often associated with insufficient own funds. The auditor should take into account this aspect, as it directly concerns the legitimacy of reflecting the fixed assets object as part of its own funds.

Thus, the legal relations of the parties under a financial lease (leasing) agreement are regulated by paragraph 6 "Financial lease (leasing)" Ch. 34 "Rent" of the Civil Code and the Federal Law of October 29.10.1998, 164 No. 2-FZ "On Financial Lease (Leasing)". In accordance with Art. Under a leasing agreement, the lessor (lessor) undertakes to acquire ownership of the property (leased item) specified by the lessee (lessee) from the seller specified by him and provide the lessee with this property for a fee for temporary possession and use.

The subject of leasing transferred for temporary possession and use to the lessee is considered the property of the lessor and is recorded on the balance sheet of the lessor or lessee by mutual agreement (clause 1, article 11, clause 1, article 31 of Federal Law No. 164-FZ).

According to paragraph 8 of the Instructions on the reflection in accounting of operations under a leasing agreement, approved by order of the Ministry of Finance of the Russian Federation dated February 17.02.1997, 15 No. 08 (hereinafter referred to as the Instructions), and the Instructions for the application of the Chart of Accounts for accounting of financial and economic activities of organizations, if under the terms of the agreement leasing property is recorded on the lessee's balance sheet, then the cost of the leased property (minus VAT) received by the lessee is reflected in the debit of account 08 "Investments in non-current assets", for example, subaccount 9-76 "Acquisition of fixed assets under a leasing agreement", in correspondence with the credit of account 76 "Settlements with various debtors and creditors", for example, subaccount 5-08 "Lease obligations". When the leased equipment is accepted for accounting as fixed assets, its value is debited from the credit of account 08, subaccount 9-01, to the debit of account 01 "Fixed assets", for example, subaccount 1-76 "Property received under a leasing agreement". The accrual of lease payments due to the lessor in this case is reflected in the debit of account 76 "Settlements with various debtors and creditors", subaccount 5-76, in correspondence with account 76, for example, subaccount 6-9 "Debt on lease payments" (clause 76 of the Instructions ). The repayment of debt on lease payments is reflected in the debit of account 76, subaccount 6-51, in correspondence with the credit of account XNUMX "Settlement accounts".

The amount of VAT payable to the lessor is reflected in the debit of account 19 "Value added tax on acquired valuables" in correspondence with account 76, subaccount 76-5. The amount of VAT paid to the lessor as part of the lease payment, the organization has the right to accept for deduction on the basis of subpara. 1 p. 2 art. 171 and paragraph 1 of Art. 172 of the Tax Code as the debt to the lessor for lease payments is paid off.

According to clause 11 of the Instructions when buying out leased property and transferring it to the lessee's ownership on account 01 "Fixed assets" between sub-accounts 01-1 and 01-2 "Own fixed assets" and on account 02 "Depreciation of fixed assets" between sub-accounts 02-1 and 02-2 "Depreciation of own fixed assets" internal entries are made related to the transfer of data from the sub-account for accounting for property received on lease to the sub-account for accounting for own fixed assets.

At the same time, the initial cost of the property that is the subject of leasing, on the basis of paragraph 1 of Art. 257 of the Tax Code, the amount of the lessor's expenses for its acquisition, construction, delivery, manufacture and bringing it to the state in which it is suitable for use is recognized, with the exception of the amounts of taxes that are deductible or accounted for as expenses in accordance with the Tax Code.

In addition, on a monthly basis during the term of the leasing agreement, as part of other expenses associated with production and sales, for the purpose of taxing profits in accordance with subpara. 10 p. 1 art. 264 and sub. 3 p. 7 art. 272 of the Tax Code, rental (leasing) payments for leased (accepted for leasing) property are taken into account. If the property received under a leasing agreement is accounted for by the lessee, rental (leasing) payments are recognized as an expense minus the amounts accrued in accordance with Art. 259 TC for this property depreciation.

In tax accounting, as well as in accounting, the initial cost of the object - the subject of leasing does not change, since it is determined on the basis of the costs of the lessor for the acquisition of the subject of leasing and does not depend on the amount of payments under the leasing agreement (clause 1, article 257 of the Tax Code).

12.7. Purchase of equipment requiring installation

Accounting for the cost of purchasing equipment handed over for installation is carried out in the manner prescribed by clause 3.1.3 of the Regulation on accounting for long-term investments. Purchased equipment that requires installation is accepted for accounting under the debit of account 07 "Equipment for installation" in correspondence with the credit of account 60 "Settlements with suppliers and contractors", at the actual cost, which in this case is the amount paid to the supplier (excluding VAT ).

The amount of VAT presented by the supplier of equipment requiring installation is reflected in the debit of account 19 "Value added tax on acquired valuables" in correspondence with the credit of account 60.

The organization has the right to accept this amount of VAT for deduction after the completion of the installation of equipment and its acceptance for accounting as part of fixed assets from the moment specified in par. 2 p. 2 art. 259 of the Tax Code (clause 6 of article 171, clause 5 of article 172 of the Tax Code), subject to the availability of an invoice and documents confirming the actual payment to the supplier (clause 1 of article 172 of the Tax Code).

The installed equipment is included in capital investments in fixed assets, since commissioning may require additional work and testing. The auditor must check the correctness of the analytical accounting on account 07, which is maintained by the places of storage of equipment and its individual names (types, brands, etc.), and find out if it includes equipment used in production activities, but not transferred included in fixed assets.

For the purposes of profit taxation, purchased and installed equipment is recognized as a depreciable fixed asset (clause 1 of article 256 of the Tax Code), the initial cost of which is determined as the sum of the costs of its acquisition, construction, manufacture, delivery and bringing it to a state in which it is suitable for use, except for the amounts of taxes that are deductible or accounted for as expenses in accordance with the Tax Code (clause 1, article 257 of the Tax Code).

12.8. Modernization of fixed assets

The auditor may encounter a situation where the initial cost of fixed assets is higher than the contractual cost of their acquisition, this may be due to the modernization of the facility. Cost change transactions must be properly documented and recorded on the inventory card. A change in the initial cost of the fixed assets in which they are accepted for accounting, in accordance with clauses 14, 27 of PBU 6/01 "Accounting for fixed assets", is allowed in cases of completion, additional equipment, reconstruction, modernization, partial liquidation and revaluation of fixed assets. Thus, the expenses of the organization for the modernization of the OS object increase its initial cost. In accounting, the costs of upgrading the fixed assets are reflected in the debit of account 08 "Investments in non-current assets" in correspondence with the accounts of settlements with the relevant services or suppliers. The cost of the modernization performed on account 08 is written off to the debit of account 01.

For the purposes of taxation of profits, work on completion, additional equipment, modernization includes work caused by a change in the technological or service purpose of equipment, a building, structure or other object of depreciable fixed assets, increased loads and (or) other new qualities (clause 2 of article 257 of the Tax Code) .

Consideration should be given to the possible increase in useful life. The useful life of the upgraded fixed assets is reviewed only in cases of improvement (increase) in the initially adopted normative indicators of the operation of the facility as a result of modernization (clause 20 PBU 6/01), this extension of the period is the right of the taxpayer. During the remaining years of useful life in accounting, modernization costs attributed to an increase in the initial cost of fixed assets are subject to depreciation, which is reflected in the accounting for the credit of account 02 "Depreciation of fixed assets" in correspondence with the debit of cost accounting accounts (clause 17 , 25 PBU 6/01, Instructions for the use of the Chart of Accounts).

The organization has the right to accept the amount of VAT presented by the contractor for the modernization performed, if there is an invoice and documents confirming the actual payment to the contractor after the modernization costs are included in the cost of fixed assets from the moment specified in par. 2 p. 2 art. 259 of the Tax Code (clause 6 of article 171, clause 1, 5 of article 172 of the Tax Code).

According to paragraph 2 of Art. 257 of the Tax Code, the costs of upgrading an asset in tax accounting are attributed to an increase in its initial cost, as well as in accounting.

12.9. Provision for repair of fixed assets

According to paragraph 72 of the Regulation on accounting and financial reporting in the Russian Federation, approved by order of the Ministry of Finance of the Russian Federation dated July 29.07.1998, 34 No. XNUMXn, in order to evenly include future expenses in production or circulation costs of the reporting period, an organization can create reserves for the upcoming repair of fixed assets .

When creating a reserve, it is necessary to take into account the requirements of Art. 260 of the Tax Code, according to which, in order to ensure uniform inclusion of expenses for the repair of fixed assets over two or more tax periods, taxpayers have the right to create reserves for future repairs of fixed assets in accordance with the procedure established by Art. 324 NK. A taxpayer forming a reserve for future repair expenses shall calculate deductions to such a reserve based on the total cost of fixed assets and deduction rates approved by the taxpayer independently in the accounting policy for tax purposes.

The total cost of fixed assets is determined as the sum of the initial cost of all depreciable fixed assets put into operation as of the beginning of the tax period in which a reserve for future expenses for the repair of fixed assets is formed. When determining the standards for deductions to the reserve for future expenses for the repair of fixed assets, the taxpayer is obliged to determine the maximum amount of deductions for the reserve for future expenses for the repair of fixed assets, based on the frequency of repair of an item of fixed assets, the frequency of replacement of elements of fixed assets (in particular, components, parts, structures ) and the estimated cost of said repairs. At the same time, the maximum amount of the reserve for future expenses for the specified repair cannot exceed the average value of the actual expenses for repairs that have developed over the past three years. If a taxpayer accumulates funds for carrying out especially complex and expensive types of capital repairs of fixed assets over more than one tax period, then the maximum amount of deductions to the reserve for future expenses for the repair of fixed assets may be increased by the amount of deductions for financing the specified repair attributable to the corresponding tax period. period in accordance with the schedule for the said types of repairs, provided that no such or similar repairs were carried out in previous tax periods.

Allocations to the reserve for future expenses for the repair of fixed assets during the tax period are written off as expenses in equal installments on the last day of the corresponding reporting (tax) period.

When inventorying the reserve for the repair of fixed assets, overreserved amounts are reversed at the end of the year.

When checking, the auditor should be guided by the Federal Auditing Standard No. 21 "Peculiarities of auditing estimated values", since the calculation of estimated values, depending on the specifics of a particular indicator, can be simple or complex. Complex calculations may require specialized knowledge and professional judgment.

An accounting estimate may be part of an ongoing accounting system or part of a system that only operates at the end of an accounting period. In many cases, estimates are calculated using formulas and ratios based on the experience of the entity being audited (for example, standard depreciation rates for a group of property, plant and equipment, a standard percentage of sales revenue to calculate a reserve for future warranty repairs and warranty service for products that are life time). In such cases, the entity's management should periodically review the formulas and ratios, for example by re-estimating the remaining useful life of the assets or comparing actual results with the estimate and adjusting the formula if necessary.

If, as a result of uncertainty or lack of objective data, it is impossible to calculate adequate estimates, the auditor decides whether, on this basis, the audit report should be modified in accordance with Federal Auditing Standard No. 6.

12.10. Depreciation of fixed assets

During the audit, the auditor must obtain evidence of the correctness and validity of depreciation charges on fixed assets. To do this, in addition to a reliably determined initial cost, he must make sure that the asset is correctly assigned to the group of depreciable property in accordance with Ch. 25 NC and the accuracy of the arithmetic calculations of the audited entity. According to paragraph 20 of PBU 6/01 "Accounting for fixed assets", the useful life is determined by the organization for each item of fixed assets when accepting this item for accounting.

According to paragraph 17 of PBU 6/01, the cost of fixed assets is repaid by depreciation using one of the methods provided for in paragraph 18 of PBU 6/01.

Accrual of depreciation charges on an object of fixed assets begins on the first day of the month following the month of acceptance of this object for accounting, and is carried out until the cost of this object is fully paid off or this object is written off from accounting. The accrual is made regardless of the results of the organization's activities in the reporting period and is reflected in the accounting of the reporting period to which it relates.

During the useful life of an object of fixed assets, the accrual of depreciation deductions is not suspended, except when it is transferred by decision of the head of the organization to conservation for a period of more than three months, as well as during the restoration of an object, the duration of which exceeds 12 months (PBU 6/01).

So, in accounting, the following methods of depreciation are used: linear, method of writing off the cost by the sum of the numbers of years of the useful life, the method of diminishing balance, the method of writing off the cost in proportion to the volume of products (works, services). Tax accounting provides for depreciation by linear and non-linear methods. Accordingly, the auditor must check the correctness of the calculation and allocation to the expense accounts of the amounts of depreciation in accounting and tax accounting.

In accordance with the Chart of Accounts for accounting of the financial and economic activities of organizations and the Instructions for its application, depreciation is reflected in the accounting of the organization on the credit of account 02 "Depreciation of fixed assets" in correspondence with the debit of the corresponding cost accounts (20-29) or 44 "Expenses for sale".

The procedure for tax accounting of depreciable fixed assets put into operation before the entry into force of Ch. 25 "Corporate Income Tax" of the Tax Code, set by paragraph 1 of Art. 322 of the Tax Code, according to which, for the specified fixed assets, the organization is obliged to independently establish their useful life as of January 1, 2002, taking into account the Classification of fixed assets determined by the Government of the Russian Federation and the useful life by depreciation groups established by Art. 258 NK. In addition, this paragraph determines that regardless of the method chosen by the taxpayer for calculating depreciation on property put into operation before the entry into force of Ch. 25 of the Tax Code, depreciation is calculated based on the residual value of the specified property.

The auditor should note that in some cases depreciation should be suspended:

1) on objects of fixed assets on conservation for a period of more than three months;

2) for modernized and reconstructed facilities for a period of more than 12 months.

Depreciation is not charged for housing facilities, external improvement facilities, land plots and nature management facilities.

Overestimation of depreciation rates leads to an increase in the costs of the enterprise and, as a result, to an underestimation of taxable profits. The auditor is obliged to assess the materiality of the identified violations, taking into account the particular level of materiality for this item of expenses of the enterprise and reflect all the facts revealed in his working documentation.

12.11. Disposal of property, plant and equipment

When auditing the disposal of fixed assets, attention should be paid to the causes and ways of disposal of these assets. This is especially true in cases where the auditor has certain grounds to suspect the management of the audited entity of dishonest actions. This may be evidenced by the sale of property at a price below the residual or increased very slightly to the employees of the organization and management.

In accordance with the Instructions for the Application of the Chart of Accounts for the Financial and Economic Activities of Organizations, upon recognition in accounting, the amount of proceeds from the sale of an asset is reflected as operating income on the credit of account 91 "Other income and expenses" subaccount 91-1 "Other income" .

When fixed assets are retired to account 01 "Fixed assets", a subaccount "Retirement of fixed assets" can be opened. The cost of the retiring object is transferred to the debit of this sub-account, and the amount of accumulated depreciation is transferred to the credit.

The auditor must check the termination of accrual of depreciation charges on the fixed assets object from the first day of the month following the month of writing off this object from accounting (clause 22 of the Accounting Regulation "Accounting for Fixed Assets" PBU 6/01.

The sale of a fixed assets object on the territory of the Russian Federation is subject to VAT (clause 1, article 146 of the Tax Code). At the same time, the tax base for VAT is determined in accordance with paragraph 1 of Art. 154 NK.

For the purposes of taxation of profits, income from sales is recognized as proceeds from sales, including fixed assets, which is determined on the basis of all receipts related to settlements for sold fixed assets, expressed in cash and (or) in kind, less taxes charged to the buyer (clause 1 article 248, paragraph 1, 2 article 249 of the Tax Code).

When selling fixed asset objects, the taxpayer has the right to reduce the income from such operations by the residual value of these objects, determined in accordance with paragraph 1 of Art. 257 of the Tax Code (signature 1 of paragraph 1 of Article 268 of the Tax Code).

In addition to the facts of the implementation of fixed assets, the auditor should pay attention to the transfer of fixed assets as a contribution to the authorized capital of other organizations. In this case, the auditor pays attention not only to the legal aspects of such operations, but also to the types of equipment transferred and their practical value for the organization's production process, as this may be a factor indicating the intention of the entity to reduce or modify production activities, and it is necessary to evaluate the possibility of applying the going concern assumption of the audited entity.

12.12. Acquisition of intangible assets

An audit of intangible assets (hereinafter referred to as intangible assets) differs from an audit of fixed assets in that in this case, obtaining evidence in the form of an inventory becomes more legal in nature, i.e. the auditor is obliged to obtain confirmation that this object may be included in the intangible assets and the organization has legal rights to it.

Clause 3 PBU 14/2000 "Accounting for Intangible Assets", approved by Order of the Ministry of Finance of the Russian Federation No. 16.10.2000n dated October 91, XNUMX, defines the conditions for accepting assets for accounting as intangible assets.

According to paragraph 3 of Art. 257 of the Tax Code, intangible assets are the results of intellectual activity acquired and (or) created by the taxpayer and other objects of intellectual property (exclusive rights to them) used in the production of products (performance of work, provision of services) or for the management needs of the organization for a long time (lasting more than 12 months) and bringing economic benefits (income). Intangible assets are accepted for accounting at their original cost (clause 6 PBU 14/2000).

The cost of intangible assets created by the organization itself is determined as the sum of the actual costs of their creation, manufacture, with the exception of the amounts of taxes that are included in expenses in accordance with the Tax Code (clause 3 of article 257 of the Tax Code). Thus, the initial cost of an intangible asset in tax accounting in this case will correspond to the initial cost of this asset, reflected in accounting.

To summarize information about the organization's costs into objects that will subsequently be accepted for accounting as intangible assets, the Chart of Accounts for accounting for the financial and economic activities of organizations and the Instructions for its use, approved by order of the Ministry of Finance of the Russian Federation of October 31.10.2000, 94 No. 08n, is intended to account 08 "Investments in non-current assets", sub-account 5-XNUMX "Acquisition of intangible assets".

The amount of VAT payable to the counterparty is reflected in the debit of account 19 "Value added tax on acquired valuables" in correspondence with account 60 "Settlements with suppliers and contractors".

The generated initial cost of intangible assets accepted for operation is debited from account 08, subaccount 08-5, to the debit of account 04 "Intangible assets".

The organization has the right to accept the paid amount of VAT for deduction on the basis of subpara. 1 p. 2 art. 171 of the Tax Code in the manner prescribed by paragraph 1 of Art. 172 of the Tax Code after the relevant asset is taken into account. This operation is reflected in the accounting on the credit of account 19 in correspondence with the debit of account 68 "Calculations on taxes and fees".

12.13. Amortization of intangible assets

The program for auditing the depreciation of intangible assets is similar to the program for auditing the depreciation of fixed assets. According to paragraph 14 of PBU 14/2000 "Accounting for intangible assets", approved by order of the Ministry of Finance of the Russian Federation dated October 16.10.2000, 91 No. 15n, the cost of intangible assets is repaid by depreciation using one of the methods specified in paragraph 14 of PBU 2000/17. The useful life is determined by the organization when accepting an object for accounting based on the expected period of use of this object, during which the organization can receive economic benefits (income) (clause 14 PBU 2000/XNUMX).

Depreciation charges on intangible assets are reflected in the accounting of the reporting period to which they relate, and are charged regardless of the results of the organization's activities in the reporting period. Depreciation charges on intangible assets are reflected in accounting in one of the ways: by accumulating the corresponding amounts in a separate account or by reducing the initial cost of the object (clauses 20, 21 PBU 14/2000). To summarize information on depreciation accumulated during the use of the organization's intangible assets, the Chart of Accounts provides account 05 "Depreciation of intangible assets". The amount of depreciation of intangible assets is reflected in the accounting on the credit of account 05 in correspondence with the accounts for accounting for production costs (expenses for sale).

12.14. Audit procedures

With the help of audit procedures, the reliability of accounting and reporting data is verified. Upon detection of violations, the auditor determines their nature and essence, as well as the level of materiality. At the same time, the auditor describes audit procedures or methods for detecting violations, the procedure for constructing an audit sample when it is applied, i.e., substantiates the sufficiency of audit evidence. Based on the results of the audit procedures performed, the auditor may develop recommendations for eliminating errors in accounting and improving the accounting system.

Checking the correctness of accounting for fixed assets and intangible assets can be continuous (with a small number of objects) or selective.

The size of the sample to check the balance of accounts of fixed assets and intangible assets and transactions with them is determined on the basis of an assessment of audit risks carried out at the planning stage of the audit. During the audit, when refining the assessment of the internal control system and audit risk, the sample size can be changed.

If the organization has a sufficiently large number of objects, then statistical sampling methods can be used when checking the balance of fixed assets and intangible assets. If the number of objects is not so large, non-statistical methods are used. The number of fixed asset transactions (acquisitions and disposals) is generally small, so non-statistical sampling methods are used for transactions.

During a selective audit, the auditor must first divide into subsets (stratify) the entire set of fixed assets so that elements of all subsets can be selected for verification with equal probability.

For example, the set of fixed assets of an organization can be divided into subsets according to the following criteria:

▪ territorial isolation. The sample should equally likely include fixed assets located in various separate divisions of the audited organization;

▪ production characteristics. For a random check, it is necessary to select fixed assets used at various stages of the production process in the organization or in different industries, if the organization is multidisciplinary. For example, if an organization mines and processes minerals, the sample should include both fixed assets used in mining and fixed assets used in processing minerals;

▪ classification in reporting. If the reporting classifies fixed assets into several groups, for example, land plots, buildings and structures, machinery and equipment, etc., it is necessary that the sample includes fixed assets reflected under each item. The auditor may decide not to check elements for any of the items in the classification of fixed assets if it is significantly less than the level of materiality and possible violations will not affect the reliability of the financial statements of the organization as a whole;

▪ classification by depreciation groups. The organization's fixed assets are divided into several depreciation groups. The sample should include fixed assets from different depreciation groups;

▪ other classifications, depending on the characteristics of the organization being audited.

The traceability procedure checks compliance with:

1) indicators of accounting reporting forms for fixed assets;

2) reporting indicators and the General Ledger;

3) indicators of the General Ledger and registers of synthetic and analytical accounting.

Reconciliation of reporting indicators for fixed assets should be formalized by working documents. Further verification is carried out based on the results of reconciliation of the data of the General Ledger with indicators of registers of synthetic and analytical accounting. The data of inventory cards of synthetic accounting of fixed assets are verified. The auditor can check the compliance of the indicators of the movement of fixed assets by groups of form No. 5 with the data of analytical accounting for inventory cards. At this stage of the audit, the auditor, using the tracking procedure, checks the correctness of the reflection of the data of primary documents in the registers of analytical and synthetic accounting, entries in the General Ledger. This allows him to make sure that the transaction is correctly reflected in accounting.

Since intangible assets do not have a physical form, the auditor can verify their existence only by checking documents confirming the organization's rights to the relevant intangible assets. Such documents include trademark registration certificates, patents, utility model certificates, etc. The auditor can get acquainted with these documents in the legal service of the organization or other services whose duties include registration of the organization's rights to intangible assets.

In addition, the auditor must ensure that the organization's rights to intangible assets acquired in prior periods and reflected in the financial statements at the end of the audited period are not lost. The auditor can be convinced of this by interviewing the client's lawyers and his management for the existence of litigation regarding the organization's rights to intangible assets.

There are intangible assets (patents, utility model certificates, etc.), the rights to which, in accordance with the law, are valid for a certain period. According to the last year's working documents, the auditor must make sure that the validity of the rights to intangible assets reflected in the organization's financial statements have not expired at the end of the reporting period.

Documentation of audit procedures performed during the audit of fixed assets and intangible assets is carried out in accordance with the Federal Auditing Standard No. 2 "Audit Documentation", methodological recommendations "Documentation" (in accordance with ISA) and internal standards of the audit organization.

Topic 13. AUDIT OF INVENTORIES

13.1. Objectives and composition of the audit of inventories and accounting procedures

The purpose of the audit of the inventory is to express an opinion on the reliability and completeness of the reflection in the financial statements of information about the inventory.

When checking the inventory, auditors can use the Methodological Recommendations for Collecting Audit Evidence of the Reliability of the Inventory Inventory in Accounting Statements, which are approved by the Audit Council under the Ministry of Finance of the Russian Federation, Minutes No. 22.04.2004 dated April 25, XNUMX.

In accordance with PBU 5/01 "Accounting for inventories", approved by order of the Ministry of Finance of the Russian Federation dated 09.06.2001 No. 44n, the following assets are accepted for accounting as inventories:

1) used as raw materials, materials, etc. in the production of products intended for sale (performance of work, provision of services);

2) intended for sale;

3) used for the management needs of the organization.

Finished products - part of the inventories intended for sale (the end result of the production cycle, assets completed by processing (assembly), the technical and qualitative characteristics of which comply with the terms of the contract or the requirements of other documents, in cases established by law).

Goods - part of the inventory, acquired or received from other legal entities or individuals and intended for sale.

Order of the Ministry of Finance of the Russian Federation dated October 31.10.2000, 94 No. XNUMXn "On Approval of the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations and Instructions for Its Application" provides for the accounting of inventories for the following accounts:

▪ account 10 “Materials” (according to subaccounts);

▪ account 11 “Animals for growing and fattening”;

▪ account 14 “Reserves for reduction in the value of material assets”;

▪ account 15 “Procurement and acquisition of material assets”;

▪ account 16 “Deviations in the cost of material assets”;

▪ account 40 “Release of products, works, services”;

▪ account 41 “Goods”;

▪ account 42 “Trade margin”;

▪ account 43 “Finished products”.

Off-balance accounting of material assets is carried out on the accounts:

▪ account 002 “Inventory assets accepted for safekeeping”;

▪ account 003 “Materials accepted for processing”;

▪ account 004 “Goods accepted for commission”.

In the financial statements, information about the inventory in the organization is reflected in lines 211 "Raw materials, materials and other similar values" and 214 "Finished products and goods for resale" of the balance sheet (form No. 1). Material assets that do not belong to the organization are reflected in lines 920 "Inventory assets accepted for safekeeping" and 930 "Goods accepted for commission" of the Balance Sheet (form No. 1). Other material information about the MPZ, provided for by the current RAS, is disclosed in the explanatory note.

13.2. Criteria for Obtaining Audit Evidence in an Inventory Audit

During the audit, audit evidence is collected according to the following criteria.

Existence. It is necessary to make sure that all inventories reflected in the reporting really exist.

Rights and obligations. It is necessary to make sure that the organization's rights to the inventory, reflected in the reporting, are documented and are not limited by the rights of third parties.

Emergence. It is necessary to make sure that the operations for the acquisition and disposal of inventories reflected in the accounting records took place during the reporting period.

Completeness. It is necessary to make sure that there are no inventories that should have been reflected in accounting and reporting, but were not reflected in it.

Valuation. Necessary:

a) make sure that the inventories are reflected in the accounting and reporting in the correct assessment: at the actual cost or at the market value, if it is lower than the actual cost;

b) make sure that the method of assessing inventories when they are put into production or otherwise disposed of is applied in accordance with the accounting policy adopted by the organization.

Measurement. It is necessary to make sure that the acquisition and disposal of inventories are accounted for in the correct valuation and in the appropriate reporting period.

Presentation and disclosure. Necessary:

a) make sure that inventories are correctly classified in the reporting as raw materials and materials, finished products, goods for resale;

b) make sure that transactions with inventories are reflected in the accounting records in accordance with the regulations governing the accounting procedure in the Russian Federation;

c) make sure that all material information about the inventory is disclosed in the reporting.

13.3. Stages of Gathering Audit Evidence

The collection of audit evidence is carried out by conducting audit procedures, which are carried out in three stages:

1) audit preparation and planning procedures:

▪ checking initial balances;

▪ checking the compliance of analytical and synthetic accounting balances and financial statements;

▪ assessing the applicability of the organization's chosen accounting policy and analyzing the correctness and consistency of its application;

▪ testing the internal control system;

▪ identification of priority areas of inspection based on the characteristics of the client organization’s activities. The procedures for preparing and planning an audit are completed by constructing an audit sample;

2) the procedures performed during the substantive examination. The procedures listed in this section are performed separately for each of the inventories groups (materials, containers, finished products, goods):

▪ checking the correctness of the organization’s inventory of inventories and the reflection of inventory results in accounting;

▪ monitoring the inventory, and if impossible, participation in the control sample inventory;

▪ verification of documentary evidence of ownership of the oil and gas plant;

▪ analysis of documents confirming the encumbrance of ownership rights to the oil and gas plant;

▪ analysis of the movement of MPZ;

▪ verification of documentary evidence of operations on the movement of inventories reflected in accounting:

▪ checking the correctness of documents;

▪ checking the completeness of documentary evidence of business transactions;

▪ checking the completeness of reflection of operations with inventories in accounting;

▪ checking the correctness of the inventory assessment;

▪ checking the correctness of formation of the cost of inventories during their acquisition (manufacturing);

▪ checking the correctness of the assessment of inventories upon their disposal;

▪ checking the correctness of reflection of operations with inventories in accounting;

▪ checking the completeness of disclosure of information about inventories in the financial statements;

3) final procedures:

▪ analysis of errors identified during the audit and their impact on the reliability of financial statements;

▪ forming the auditor’s opinion on the reliability of inventory indicators in the financial statements.

13.4. Methods for Obtaining Audit Evidence

When conducting an audit of operations for the accounting and safety of inventory items (hereinafter referred to as inventory and materials), the following methods and techniques are used: inventory, recalculation, confirmation, verification of compliance with the rules for accounting for individual business transactions, oral questioning, verification of documents, tracking, analytical procedures.

Inventory is used to confirm the actual availability of goods and materials. During an audit, auditors may conduct an inventory themselves or observe the process of its implementation.

The recalculation is used to confirm the reliability of the arithmetic calculations of goods and materials, their compliance with the value reflected in the primary documents and in the accounting registers.

Confirmation is used to obtain information about the correct reflection in the accounting records of the conducted business transactions and the reality of the balances on the accounting accounts of goods and materials.

Checking compliance with the rules for accounting for individual business transactions is used in monitoring the accounting work performed by the accounting department and the correspondence of accounts for the movement of goods and materials.

An oral survey is used in the course of obtaining answers to the auditor's questionnaire on a preliminary assessment of the state of inventory accounting, as well as in the process of checking them when clarifying from specialists certain provisions of completed business transactions that are questionable or unclear.

Verification of documents is used by the auditor to confirm the correctness of accounting for the receipt and expenditure of goods and materials, the completeness and timeliness of their reflection in accounting registers, the validity of their assessment (mutual control of documents).

Tracking is used in the course of checking operations reflected in primary accounting, in order journals, statements, the General Ledger, and financial statements. At the same time, special attention is paid to the correctness of the correspondence of accounts, the correspondence of the amounts of turnovers and balances in the registers of synthetic and analytical accounting.

Analytical procedures are used when comparing the availability of goods and materials in different periods, the report data on their movement with accounting data, assessing the ratios between various report items and comparing them with data for previous periods.

Audit procedures are divided into those conducted before the inventory, during the inventory and after it. Prior to the inventory, the auditor requests documents on the results of previous inventories, analyzes the structural and quantitative changes in stocks, obtains information about the storage locations of stocks, as well as the organization of inventory work.

The auditor may be present at the inventory conducted by the employees of the audited organization in the last days of the reporting year or in the first days of the next year. However, if the inventory was carried out at some interim date, the auditor needs to track the receipt and disposal of stocks in the period that has passed from the moment of the inventory to the reporting date. In this case, a selective reconciliation of invoices, invoices, customs declarations, etc. documents with accounting data is performed.

Sometimes, for a number of reasons, it is not possible to conduct an inventory. For example, when by the time the audit contract is concluded, the inventory at the end of the year has already been carried out by the client and he refuses to carry it out again, or when the inventory is quite expensive. In this case, the auditor can apply mathematical methods that, with a certain probability, allow estimating the amount of reserves. It may happen that the client does not want to carry out a complete inventory, but, at the request of the auditor, will conduct an inventory of a part of goods and materials.

Sufficiently informative may be oral surveys by the auditor of the client's personnel about all changes in the management structure and in the accounting and internal control systems, the content and results of which are recorded in the working documents.

13.5. Inventory Audit Planning

Planning, being the initial stage of the audit in accordance with the Federal Auditing Standards No. 3 "Audit Planning", provides for the preparation of a general plan and audit program. In the general plan, the types of work and the timing of the audit are indicated, in the program - the types and sequence of the implementation of audit procedures, the period of their implementation, performers, working documents. The content of the general plan and the audit program will depend on the specific characteristics of the audited enterprise. During the audit, the auditor should establish:

▪ the reality of the presence and existence of MPZ (through participation in the inventory or evaluation of its results);

▪ whether all transactions with inventories that should be reflected in the accounting accounts are actually presented in them (documentary verification);

▪ whether the organization is considered the owner of all inventories, i.e. whether there are property rights to them, and the amounts reflected as debt are liabilities (legal aspect of the verification);

▪ correctness of the assessment of inventories and related obligations;

▪ whether the principles of inventory accounting were correctly selected and applied.

The information base for checking the MPZ is:

1) regulatory documents relating to the receipt, accounting, storage and release of material assets;

2) balance sheet;

3) General ledger;

4) order on accounting policy;

5) primary documents for registration of operations with inventory;

6) registers for inventory accounting.

13.6. Audit of the correct accounting of materials

In accounting, materials are accounted for in accordance with the Instructions for the Application of the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations, approved by Order of the Ministry of Finance of the Russian Federation No. 31.10.2000n dated October 94, 2, and clauses 5, 5 PBU 01/09.06.2001 "Accounting for inventories" , approved by order of the Ministry of Finance of the Russian Federation of 44 No. 10n, on account XNUMX "Materials" at the actual cost.

In this case, the materials are accepted for accounting at the actual cost, which is the amount of the organization's actual costs for their acquisition, with the exception of value added tax and other refundable taxes (except for cases provided for by the legislation of the Russian Federation). The actual costs also include the cost of paying interest on borrowed funds, if they are involved in the purchase of inventories (materials) and are made before the date of posting the inventories to the organization's warehouse (clause 6 PBU 5/01).

In accordance with clause 68 of the Methodological Guidelines for Accounting for Inventories, approved by Order of the Ministry of Finance of the Russian Federation dated December 28.12.2001, 119 No. XNUMXn, the actual cost of materials purchased for a fee includes:

1) the cost of materials at contractual prices;

2) transport and procurement costs;

3) the costs of bringing materials to a state in which they are suitable for use for the purposes envisaged by the organization.

At the same time, transportation and procurement costs include transportation costs, as well as fees for storing materials at the places of purchase (clause 70 of the Guidelines).

Inventory belonging to the organization, but on the way or transferred to the buyer on bail, are taken into account in accounting in the assessment provided for in the contract, with subsequent clarification of the actual cost. In our opinion, in a similar way, materials should be taken into account, the ownership of which has passed to the organization before they are actually received.

13.7. Features of the audit in the organization of accounting for inventories at accounting prices

If, according to the organization's accounting policy, inventories are accounted for at discount prices using accounts 15 "Procurement and acquisition of material assets" and 16 "Deviation in the cost of material assets", then information about their acquisition is reflected in accounting in accordance with the Instructions for Using the Chart of Accounts on account 15. The debit of account 15 includes the actual costs associated with the acquisition of inventories, in correspondence with the credit of account 60 "Settlements with suppliers and contractors". In the credit of account 15 in correspondence with the debit of account 10 "Materials", the accounting value of the inventories actually received by the organization and credited is written off. The amount of the difference (deviation) in the cost of acquired inventories, calculated in the actual cost of acquisition, and accounting prices is debited from account 15 to account 16. The described procedure for accounting for deviations is also established in clauses 83, 85 of the Methodological Guidelines for Accounting for Inventories approved by order Ministry of Finance of the Russian Federation dated December 28.12.2001, 119 No. XNUMXn.

The debit of account 15 includes the actual costs associated with the purchase of goods, in correspondence in this case with the credit of account 60 "Settlements with suppliers and contractors". The amount of the difference between the cost of the purchased goods, calculated in the actual cost of the acquisition, and the accounting price is debited from account 15 to account 16.

The differences accumulated on account 16 "Deviation in the value of material assets" in accordance with the Instructions for the use of the Chart of Accounts are written off to the debit of the account for accounting for sales expenses or other relevant accounts.

According to sub. "c" clause 80 of Guidelines No. 119n is allowed to be used as accounting planned and estimated prices, which are developed and approved by the organization in relation to the level of the actual cost of the relevant inventories and are intended for use within the organization.

In organizations that keep records of inventories at planned and estimated prices, a nomenclature-price tag is developed in the manner established in clause 81 of Guidelines No. 119n.

In accordance with the Instructions for the Application of the Chart of Accounts and clause 86 of Guidelines No. 119n, deviations in the cost of raw materials related to raw materials put into production are subject to monthly write-offs to accounting accounts that reflect the consumption of the corresponding raw materials.

13.8. Acquisition of inventories denominated in foreign currency

According to paragraphs 4, 5, 6 PBU 3/2000 "Accounting for assets and liabilities of an organization, the value of which is expressed in foreign currency", approved by order of the Ministry of Finance of the Russian Federation dated 10.01.2000 No. 2n, the value of assets and liabilities, expressed in foreign currency, for reflected in accounting and reporting is subject to conversion into rubles at the rate of the Central Bank of the Russian Federation, effective on the date of the transaction in foreign currency. When importing inventories, the date of the transaction is the date of transfer of ownership to the importer of imported inventories (Appendix to PBU 3/2000).

The amount of the difference resulting from the deviation of the purchase rate by an agent of foreign currency from the official rate of the Central Bank of the Russian Federation, established on the date of purchase of this currency, may be reflected in the accounting of the organization as part of operating expenses (clause 11 PBU 10/99 "Expenses of the organization", approved by order Ministry of Finance of the Russian Federation dated May 06.05.1999, 33 No. 91n). This operation is reflected in accounting on the debit of account 91 "Other income and expenses", sub-account 2-XNUMX "Other expenses", in correspondence with the credit of the account for accounting for settlements with the agent.

Operations involving the importation of goods into the customs territory of the Russian Federation are recognized as an object of VAT taxation (subclause 4, clause 1, article 146 of the Tax Code). In this case, the tax base is determined in the manner prescribed by paragraph 1 of Art. 160 NK, art. 117 TK. In accounting, the amount of VAT payable to the customs authority is reflected in the debit of account 19 "Value added tax on acquired valuables" in correspondence with the credit of account 68. The amount of VAT actually paid when importing materials into the customs territory of the Russian Federation, the organization has the right to accept deductible (clause 2, article 171 of the Tax Code) after the imported material assets are registered and if there are documents confirming the actual payment of VAT (clause 1 of article 172 of the Tax Code).

13.9. Material costs

For the purposes of tax accounting in accordance with sub. 1 p. 1 art. 254 of the Tax Code, the costs of purchasing materials used in the manufacture of products are included in material costs. The cost of inventory items included in material expenses is determined based on their purchase prices (excluding the amounts of taxes deductible or included in expenses in accordance with the Tax Code), including import customs duties and fees, transportation costs and other costs associated with with the acquisition of inventory items (clause 2 of article 254 of the Tax Code).

It should be noted that the terminology of tax and accounting has been brought into line. In accounting, the procedure for recording material costs is regulated by PBU 5/01, approved by order of the Ministry of Finance of Russia dated 09.06.2001/44/28.12.2001 No. 119n, and Methodological guidelines for accounting of inventories, approved by order of the Ministry of Finance of Russia dated 1/2005/XNUMX No. XNUMXn. In tax accounting, the term "material and production values" was used for similar purposes. From January XNUMX, XNUMX, the tax legislation applies the concept used for accounting purposes - "inventory".

In paragraph 2 of Art. 254 of the Tax Code clarified the procedure for the formation of the cost of inventories. Starting from 2006, it is determined on the basis of purchase prices of inventories, excluding VAT and excises, with the exception of cases provided for by the Tax Code. Other taxes and fees (for example, customs duties and fees) paid when purchasing inventories are taken into account in their cost. The cost of inventories still includes commission fees to intermediary organizations, transportation costs and other costs associated with the acquisition of inventories.

The costs of maintaining the procurement and storage unit of the organization are not included in the cost of the inventory. They are included in the composition of indirect costs in accordance with paragraph 2 of Art. 318 NK.

Transportation costs for the delivery of material assets are taken into account when forming the cost of the inventory (clause 2 of article 254 of the Tax Code). In the case of delivery of materials by the own transport workshop, the assessment of these services is carried out taking into account the assessment of finished products (works, services) in accordance with Art. 319 NK. This is indicated in paragraph 4 of Art. 254 NK. However, the services of the transport department may be associated with the acquisition of several types of material values, in which case the amount of expenses is distributed among the material values ​​in proportion to any criterion justified for this case.

Costs for the acquisition of works and services of a production nature performed by third parties are included in indirect costs. At the same time, the amount of indirect expenses for production and sale, carried out in the reporting (tax) period, is fully related to the expenses of the current reporting (tax) period, taking into account the requirements provided for by the Tax Code.

The party receiving property free of charge reflects its value as part of non-operating income based on market prices, provided that the provisions of Art. 251 NK.

The date of implementation of material expenses is the date of transfer to production of materials - in terms of materials attributable to goods (works, services) produced (clause 2 of article 272 of the Tax Code). The costs in question are classified as direct costs on the basis of paragraph 1 of Art. 318 NK.

13.10. Transfer of raw materials for processing

In accounting, the transfer of raw materials for processing is reflected in the entry on the subaccounts of account 10 "Materials": on the credit of subaccount 10-1 "Raw materials" in correspondence with the debit of subaccount 10-7 "Materials transferred for processing" (Instructions for applying the Chart of Accounts of the accounting accounting of financial and economic activities of organizations).

The cost of processing raw materials performed by a third-party organization is also considered material costs, but refers to indirect costs (subclause 6, clause 1, article 254, article 318 of the Tax Code).

The costs of paying for the processing of raw materials are included in the calculation of the tax base for income tax in full in the reporting period in which the act of completed processing work is signed, and in the formation of accounting profit, these costs are included as the production and sale of finished products, i.e. e. in subsequent reporting periods. Consequently, the organization in the reporting period, in which the result of work on the processing of raw materials is accepted, has differences between the value of accounting and taxable profits.

13.11. Goods accounting

Goods in accordance with clause 2 PBU 5/01 "Accounting for inventories", approved by order of the Ministry of Finance of the Russian Federation dated 09.06.2001 No. 44n, are considered part of the organization's inventory, acquired or received from other legal entities and individuals and intended for sale.

Purchased goods are accepted for accounting at the actual cost, which in this case is the amount paid to the seller of goods, excluding VAT (clauses 5, 6 PBU 5/01). The amount of VAT paid to the seller when purchasing goods, the organization has the right to accept for deduction on the basis of sub. 2 p. 2 art. 171 of the Tax Code under the conditions specified in paragraph 1 of Art. 172 NK.

In accordance with the Chart of Accounts for accounting of the financial and economic activities of organizations and the Instructions for its application, goods are accounted for on account 41 "Goods".

In accordance with paragraph 2 of Art. 424 of the Civil Code, a price change after the conclusion of the contract is allowed in cases and on the conditions provided for by the contract, the law or in the manner prescribed by law.

The amount of payment and (or) accounts payable is determined taking into account all discounts (capes) provided to the organization in accordance with the agreement (clause 6.5 of PBU 10/99 "Expenses of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 33n).

The sale of goods (with the exception of the operations specified in paragraph 3 of article 39 of the Tax Code) is recognized as an object of VAT (subparagraph 1 of paragraph 1, paragraph 2 of article 146 of the Tax Code).

13.12. Audit of the release and sale of finished products

The cycle of production and sale of finished products is the main section of the activity of an industrial enterprise. In this cycle, such significant indicators for users of financial statements as sales proceeds, cost of goods sold and profit (loss) from sales are formed. They reflect the effectiveness of the main activity of an economic entity, its ability to expand its production range, to meet the social and material needs of the team, to fulfill obligations to the budget and other organizations.

Checking the organization of accounting for the release and sale of finished products refers to one of the types of audit services provided by an audit firm on special assignments in accordance with an established agreement with an economic entity, or is included in the general audit.

The purpose of checking operations for the release and sale of finished products is to objectively assess the completeness, timeliness and reliability of the accounting and reporting of indicators of sales proceeds, cost of goods sold, management and commercial expenses and profit (loss) from sales. At the same time, a set of interrelated tasks is solved in the audit process:

▪ analyzes the accounting policy of the enterprise in terms of regulating the procedure for organizing accounting for the production and sale of finished products in accordance with current legislation and industry specifics;

▪ contractual discipline is controlled in accordance with the law;

▪ the correctness of the documentation of operations for the production and sale of products is checked;

▪ the procedure for accounting and writing off costs for the production and sale of finished products is being studied;

▪ the completeness, timeliness and reliability of the receipt of finished products into the warehouse, release and sale of them to customers are assessed;

▪ the correctness and legality of organizing analytical and synthetic accounting of operations related to the movement of finished products is analyzed;

▪ compliance with tax legislation regarding taxation of transactions for the sale of finished products is monitored.

When preparing an audit program, the system of internal control of an economic entity is evaluated in terms of reliability, quality and degree of trust using a testing procedure carried out on the basis of the provisions of the Federal Auditing Standard "Study and evaluation of accounting and internal control systems during the audit". The results of the evaluation of the accounting and internal control systems of the cycle of production and sale of finished products are based on the content of the questions and objects of the study, the list of audit procedures and are given in the form of verification tests. Tests for checking the state of the internal control system and accounting for the cycle of production and sale of finished products are given with the highest probability of using them in practical work. The content of the answers and the conclusions of the auditor are arbitrary, given the most common violations of such a plan in the organization of accounting and internal audit.

The audit of the workflow is carried out on formal grounds (compliance with a standard unified form, the presence of all details, signatures, seals, dates, document numbers) and on the merits of the reflected operations (legality, expediency, reliability, arithmetic control of amounts and results). The primary accounting documents checked by the auditor, reflecting the movement of finished products, are entered in the working document of the auditor.

Audit of accounting for finished products at standard cost. The organization can account for finished products at standard cost. In accordance with the Instructions for the Application of the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations in Organizations Accounting for Output at Standard Cost and Using Account 40 "Output of Products (Works, Services)", the debit of this account reflects the actual production cost of products released from production in correspondence with cost accounting accounts (in this case, account 20 "Main production"). The credit of account 40 reflects the standard (planned) cost of manufactured products in correspondence with account 43 "Finished products".

By comparing the debit and credit turnover on account 40 on the last day of the month, the deviation of the actual production cost of manufactured products from the standard (planned) cost is determined. The identified cost overrun, i.e., the excess of the actual cost over the standard (planned) cost, is debited from account 40 "Output of products (works, services)" to the debit of account 90 "Sales" with an additional entry. Account 40 is closed monthly and has no balance as of the reporting date. Thus, the entire amount of the deviation of the actual cost of finished products from the standard is written off to the cost of sales, regardless of whether all of the output was sold.

13.13. Inventory of inventories

According to paragraph 1 of Art. 12 of the Federal Law of November 21.11.1996, 129 No. 13.06.1995-FZ "On Accounting" the procedure and terms for conducting an inventory are determined by the head of the enterprise, with the exception of cases when an inventory is mandatory. Guidelines for the inventory of property and financial obligations were approved by order of the Ministry of Finance of the Russian Federation of June 49, XNUMX No. XNUMX.

The results of the inventory are documented in the forms approved by the resolutions of the State Statistics Committee of Russia No. 18.08.1998 dated 88 and No. 27.03.2000 dated 26.

To reflect the data obtained during the inventory of the actual availability of inventory items in storage places and at all stages of their movement in the organization, the Inventory list of inventory items in the form No. the material assets reflected in the accounting are also subject to inclusion in the specified inventory list.

Excess property identified during the inventory, in accordance with sub. "a" clause 28 of the Regulation on accounting and financial reporting in the Russian Federation, approved by order of the Ministry of Finance of the Russian Federation dated July 29.07.1998, 34 No. XNUMXn, is accounted for at market value on the date of the inventory, and the corresponding amount is credited to the financial results of a commercial organization.

According to paragraph 20 of Art. 250 of the Tax Code, non-operating income of the taxpayer is recognized, in particular, income in the form of the cost of surplus inventories and other property, which are identified as a result of the inventory. Paragraph 5 of Art. 274 of the Tax Code establishes that non-operating income received by the taxpayer in kind are taken into account when determining the tax base based on the transaction price, taking into account the provisions of Art. 40 NK. In other words, non-operating income is determined based on current market prices.

Account 91 "Other income and expenses", sub-account 91-1 "Other income" are intended for accounting for property that turned out to be in excess according to the results of the inventory.

When determining income and expenses on an accrual basis, the date of recognition of non-operating income in the form of the cost of surplus materials is the date of receipt of these surpluses (by analogy with subparagraph 1 of clause 4 of article 271 of the Tax Code), which is drawn up by a credit order in the form No. M-4 "Credit order ", approved by the Decree of the State Statistics Committee of Russia dated October 30.10.1997, 71 No. XNUMXa.

13.14. Audit of reporting forms

Verification of the completeness of the disclosure of information about the inventory in the financial statements includes the following procedure.

When analyzing the presented financial statements, you need to make sure:

1) that the inventories are correctly classified in the reporting as raw materials and materials, finished products and goods for resale;

2) the accounting data for the inventory correspond to the data of the balance sheet (form No. 1).

The explanatory note should disclose the following essential information about the MPZ:

▪ about methods of assessing the medical reserves by their groups;

▪ the consequences of changes in the methods of assessing inventories;

▪ the cost of inventories pledged as collateral;

▪ the amount and movement of reserves for reducing the value of inventories in accordance with the order of the Ministry of Finance of the Russian Federation dated December 28.12.2001, 119 No. XNUMXn “On approval of the Guidelines for accounting of inventories”;

▪ information on segments in accordance with the order of the Ministry of Finance of the Russian Federation dated January 27.01.2000, 11 No. 12n “On approval of the Accounting Regulations “Information by Segments” (PBU 2000/XNUMX)”;

▪ information on conditional facts of economic activity with inventories in accordance with the order of the Ministry of Finance of the Russian Federation dated November 28.11.2001, 96 No. 8n “On approval of the Accounting Regulations “Conditional Facts of Economic Activity” PBU 01/XNUMX”;

▪ information about events after the reporting date that affect the state of the inventory in accordance with Order of the Ministry of Finance of the Russian Federation dated November 25.11.1998, 56 No. 7n “On approval of the Accounting Regulations “Events after the reporting date” (PBU 98/XNUMX)”;

▪ information on transactions with affiliated entities in accordance with Order of the Ministry of Finance of the Russian Federation dated January 13.01.2000, 5 No. 11n “On approval of the Accounting Regulations “Information on Affiliated Entities” PBU 2000/XNUMX”.

All conclusions and comments of the auditor are systematized in working documents, the level of influence on the reliability of financial statements is calculated by comparing with the previously determined level of materiality, and a report (written information) is drawn up based on the results of the audit.

TOPIC 14. AUDIT OF FINANCIAL INVESTMENTS

14.1. Verification Prerequisites

Russian organizations invest free cash to participate in the management of third parties or to earn a return on invested capital. Investments of own or borrowed funds of organizations for the purpose of making a profit determine the financial activities of organizations. It is aimed at the purchase of securities, contributions to the authorized (share) capital of third-party organizations, and can also be expressed in the form of loans to other organizations, bypassing banks.

In the practical activities of Russian organizations, such operations for the acquisition of relevant assets that can generate income are defined as financial investments. An audit of financial investments is carried out in order to form an opinion on the reliability of financial statements under the items "Long-term financial investments" and "Short-term financial investments" and on the compliance of the applied accounting and taxation methodology for financial investments with the regulatory documents in force in the Russian Federation.

As with the audit of other assets, the auditor proceeds from the following assumptions.

Completeness - all financial investments are reflected in accounting and financial statements, there are no unaccounted financial investments:

▪ accounting and reporting reflect all securities acquired by the organization and loans issued;

▪ balances and turnovers on synthetic accounting accounts for financial investments coincide with balances and turnovers on analytical accounting accounts;

▪ account balances and turnovers were transferred in full from the accounting registers to the General Ledger and financial statements;

▪ accounting and reporting reflect all facts of receipt and write-off of financial investments;

▪ all operations on the movement of financial investments are timely registered in accounting.

Existence - all financial investments are significant for the organization, exist at the balance sheet date and will generate income in the future:

▪ the presence of financial investments is confirmed by the necessary primary documents and the results of an inventory carried out in accordance with the established procedure;

▪ rights and obligations - the organization has rights to these financial investments and is responsible for the risks associated with these rights:

▪ financial investments (securities and loans) reflected in the financial statements belong to the organization legally;

▪ the securities reflected in the balance sheet are owned by the organization, received as a result of contracts that comply with legal requirements, and the organization has all the necessary certificates confirming the legality of receipt of the securities;

▪ all entries in the accounting accounts are confirmed by supporting and primary documents drawn up in accordance with the requirements of current legislative and regulatory acts;

▪ all financial investment transactions arise from the terms of the relationship that do not contradict current legislation;

▪ transactions with financial investments are authorized by authorized persons in accordance with the established procedure.

Valuation - financial investments (securities) are valued in accounting and reporting in accordance with the requirements of regulatory documents:

▪ ruble valuation of securities in foreign currency was carried out in accordance with the requirements of current legislation;

▪ depending on the method of acquiring securities, their actual cost is formed in accordance with the requirements of regulatory documents;

▪ the value of securities for inclusion in the financial statements is calculated correctly and in accordance with the requirements of regulations (taking into account the decrease in market value);

▪ proceeds from the sale of securities are reflected in accounting in an estimate that coincides with that contained in the primary documents.

Accuracy - the costs of financial investments are accounted for in accordance with the accounting rules, the accounting data correspond to the entries in the synthetic accounting registers:

▪ in primary documents, accounting registers, and when transferring data to financial statements, the arithmetic accuracy of the indicators is observed;

▪ when determining the ruble valuation of securities denominated in foreign currency, foreign currency rates corresponding to the rates of the Central Bank of the Russian Federation on the date of transactions were used;

▪ the financial statements reflect the financial result determined on the basis of actual data.

Limitation of the accounting period - all operations for the acceptance for accounting and disposal of financial investments are taken into account in the corresponding accounting period.

Presentation and disclosure - all financial investments are correctly classified and disclosed in the financial statements:

▪ financial investments are classified depending on the type and maturity date;

▪ income and expenses associated with the sale and redemption of financial investments are correctly classified in the income statement;

▪ information on financial investments is disclosed in the notes to the financial statements.

Obtaining sufficient evidence on the issues being checked allows us to give an independent assessment of the indicated facts and identify violations and deviations from the current regulations and accounting rules.

14.2. The concept and classification of financial investments

The procedure for maintaining accounting records of financial investments from January 1, 2003 is regulated by PBU 19/02 “Accounting for financial investments”, approved by order of the Ministry of Finance of the Russian Federation dated December 10.12.2002, 126 No. 5n. Paragraphs 6 and 19 of PBU 02/09.12.1998 provide organizations with independence both in choosing an accounting unit for financial investments and in organizing analytical accounting in order to provide complete and reliable information about the movement of financial investments and control over their availability and movement. The analytical accounting register must reflect the necessary information at least in the following sections: name of the issuer, name of the security, its number and series, nominal price, purchase price (actual cost), total quantity, as well as dates of purchase and sale of the security and place of its storage , temporary nature of investments (short-term or long-term). The independence of choosing an accounting unit for financial investments and analytical accounting indicators must be secured by the accounting policy of the organization (Order of the Ministry of Finance of the Russian Federation dated December 60, 1 No. 98n “On approval of the Accounting Regulations “Accounting Policy of the Organization” PBU XNUMX/XNUMX”). As a rule, this analytical register is developed by the organization independently and implemented within the framework of an automated form of accounting.

When accepting assets as financial investments, one-time fulfillment of the relevant conditions specified in paragraph 2 of PBU 19/02 is necessary:

1) the availability of properly executed documents confirming the relevant rights to financial investments;

2) transfer to the organization making financial investments of the corresponding risks (risk of price changes, insolvency of the debtor, liquidity, etc.);

3) the ability of the organization to bring economic benefits (income) in the future in the form of interest or dividends or in the form of value growth (in the form of a difference in sale (redemption) prices and book value).

In accordance with paragraph 3 of PBU 19/02, financial investments include:

▪ state and municipal securities;

▪ securities of other organizations in which the date and cost of redemption are determined (bonds of joint stock companies, corporate bills and financial bills);

▪ contributions to the authorized (share) capital of other organizations (including subsidiaries and dependent business companies);

▪ contributions under a simple partnership agreement (from a partner organization);

▪ loans provided to other organizations;

▪ deposits in credit institutions;

▪ accounts receivable acquired on the basis of assignment of the right of claim.

To account for financial investments, account 58 "Financial investments" is intended. To account for various types of financial investments, sub-accounts can be opened for account 58: 58-1 "Shares and shares", 58-2 "Debt securities", 58-3 "Granted loans", 58-4 "Deposits under a simple partnership agreement" .

Financial investments do not include the following assets: own shares repurchased by a joint-stock company from shareholders for subsequent resale, bills of exchange issued on the terms of commercial lending, investments of the organization in real estate, precious metals, jewelry, works of art and other valuables acquired not for ordinary activities.

14.3. Formation of initial cost

The initial cost of financial investments purchased for a fee, in accordance with clause 9 of PBU 19/02, is the amount of the organization's actual costs for their acquisition, excluding VAT and other refundable taxes (except as provided by the legislation of the Russian Federation on taxes and fees).

The procedure for the formation of the initial cost of financial investments is determined by the channel for their receipt by the organization: purchase for a fee, receipt as a contribution to the authorized capital, gratuitous transfer, receipt as a means of payment for work performed, services rendered, values ​​delivered.

14.4. Loan audit

In accordance with the Chart of Accounts for accounting of the financial and economic activities of organizations and the Instructions for its application, approved by order of the Ministry of Finance of the Russian Federation dated October 31.10.2000, 94 No. 58n, information on loans provided by the organization to legal entities and individuals (except for employees of the organization) is reflected in account 58 "Financial investments", sub-account 3-XNUMX "Granted loans".

The amount of the loan provided by the organization to the borrower - a legal entity, is reflected in the debit of account 58, subaccount 58-3, in correspondence with account 51 "Settlement accounts". For the amount of payments received from the borrower, account 58, subaccount 58-3, is credited in correspondence with account 51.

In accordance with clause 7 of PBU 9/99 "Income of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 32n, interest received for the provision of funds for use by the organization is considered operating income, which, in accordance with clause 16 of PBU 9/ 99 are recognized in accounting under the conditions specified in paragraph 12 of PBU 9/99. At the same time, for accounting purposes, interest is accrued for each expired reporting period in accordance with the terms of the agreement.

Subparagraph 15 of paragraph 3 of Art. 149 of the Tax Code, it is determined that the provision of financial services for the provision of a loan in cash is not subject to value added tax. Consequently, the interest received by the organization under the loan agreement is not included in the VAT tax base.

For the purposes of taxation of profits, interest received by an organization under a loan agreement is considered in accordance with paragraph 6 of Art. 250 NC non-operating income. The procedure for recognizing such income under the accrual method is established by Art. 271 of the Tax Code, according to paragraph 6 of which, under loan agreements that are valid for more than one reporting period, for the purpose of calculating the tax base for income tax, income is recognized as received and included in the corresponding income at the end of the corresponding reporting period.

14.5. Audit of bills

In accordance with paragraph 3 of PBU 19/02 "Accounting for financial investments", approved by order of the Ministry of Finance of the Russian Federation dated December 10.12.2002, 126 No. XNUMXn, debt securities in which the date and cost of redemption is determined (bonds, bills) are classified as financial investments.

The conditions, the one-time fulfillment of which is necessary for the acceptance of assets as financial investments for accounting, are established by paragraph 2 of PBU 19/02. In the situation under consideration, all the specified conditions for accepting a bill of exchange for accounting as financial investments are met on the date of transfer of the bill by means of an endorsement by the person transferring the bill on the bill in the name of the organization (clause 3 of article 146 of the Civil Code).

According to the Instructions for the Application of the Chart of Accounts for Financial and Economic Activities of Organizations, debt securities acquired by an organization are accounted for on account 58 "Financial investments", subaccount 58-2 "Debt securities".

The procedure for the circulation of bills of exchange is regulated by the Regulations on a transferable and promissory note, approved by the Decree of the Central Executive Committee of the USSR and the Council of People's Commissars of the USSR dated 07.08.1937 No. 104/1341 and valid on the territory of the Russian Federation in accordance with Federal Law dated 11.03.1997 No. 48-FZ "On transferable and promissory notes". bill of exchange". According to paragraph 5, 77 of the said Regulations, in a bill that is payable at sight or at a certain time from presentation, the drawer may stipulate that interest will accrue on the bill amount.

Interest on a promissory note on the organization's balance sheet is recognized and included in operating income as of the date the organization has the right to receive them (clauses 7, 12, 16 of PBU 9/99 "Income of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 32n), which arises only when a bill is presented for payment on time. Thus, in accounting, interest on a bill is not accrued until the moment it is presented for payment by the bill holder.

On the date the bill is presented for payment, the organization recognizes in accounting income in the form of interest on the bill.

For the purposes of taxation of profits, income in the form of interest on securities and other debt obligations is considered non-operating income (clause 6 of article 250 of the Tax Code).

According to paragraph 1 of Art. 328 of the Tax Code in analytical accounting, the taxpayer independently reflects the amount of income in the amount due on promissory notes in accordance with the terms of the issue or transfer (sale) of interest separately for each type of debt obligation. The amount of income in the form of interest on debt obligations is taken into account in analytical accounting based on the yield established for each type of debt obligations and the validity period of such a debt obligation in the reporting period as of the date of recognition of income, determined in accordance with the provisions of Art. 271 of the Tax Code, according to clause 6 of which, for securities with a validity period of more than one reporting period, for the purposes of Ch. 25 of the Tax Code, income is recognized as received and included in income at the end of the corresponding reporting period.

In case of termination of the contract (repayment of the debt obligation) before the end of the reporting period, income is recognized as received and included in the relevant income as of the date of termination of the contract (repayment of the debt obligation).

Thus, the procedure for recognizing income in the form of interest on a promissory note, established for the purposes of taxation of profits, differs from the procedure for their recognition in accounting (income in the form of interest on a promissory note for tax purposes is recognized monthly during the period the promissory note is held by the organization, and for the purposes accounting - on the date of payment on the bill).

When redeeming a bill, the organization recognizes, for the purposes of taxation of profits, income from its sale, which is determined in the manner prescribed by Art. 280 NK. Expenses for repayment of a bill are determined in this case based on the price of its acquisition.

The costs of selling a security are determined based on the purchase price of the security (including the costs of acquiring it), the costs of selling it, and the amount of accumulated interest (coupon) income paid by the taxpayer to the seller of the security (Clause 2, Article 280 of the Tax Code). In this case, the costs of selling the promissory note are equal to its original cost, which corresponds to accounting data.

In accordance with sub. 12 p. 2 art. 149 of the Tax Code, the sale of securities in the territory of the Russian Federation is not subject to VAT.

The amount of VAT paid to the budget from the received prepayment, the organization has the right to accept for deduction after the transfer of the bank's bill to the buyer on the basis of paragraph 5 of Art. 171 NK.

With a large number of bills in the organization, it is advisable to keep a separate journal for their tax accounting, which will be a kind of appendix to the purchase book.

14.6. Stock audit

Shares of other organizations owned by the organization are accounted for as financial investments. At the same time, the organization's investments in shares of other organizations listed on the stock exchange, the quotation of which is regularly published, when compiling the balance sheet, are reflected at the end of the reporting year at market value, if the latter is lower than the value accepted for accounting.

For this difference, at the end of the reporting year, a reserve is formed for the depreciation of investments in securities due to financial results (clauses 43, 45 of the Regulations on Accounting and Accounting in the Russian Federation, approved by Order of the Ministry of Finance of the Russian Federation dated July 29.07.1998, 34 No. XNUMXn) .

According to the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations and the Instructions for its Application, approved by Order No. 31.10.2000n of the Ministry of Finance of the Russian Federation dated October 94, 58, the shares of an OJSC owned by the organization are recorded on account 58 "Financial investments", subaccount 1-59 "Shares and shares" . To summarize information on reserves for depreciation of investments in securities, the Chart of Accounts provides account 31 "Reserves for depreciation of investments in securities". The amount of the provision for depreciation of shares created by the organization as of December 2002, 59 is recorded on the credit of account 91 and the debit of account 91 "Other income and expenses", sub-account 2-XNUMX "Other expenses".

According to paragraph 20 of PBU 19/02, financial investments, for which the current market value can be determined in the prescribed manner, are reflected in the financial statements at the end of the reporting year at the current market value by adjusting their assessment for the previous reporting date. This adjustment can be made monthly or quarterly. The difference between the assessment of financial investments at the current market value as of the reporting date and the previous assessment of financial investments is credited to the financial results of a commercial organization (as part of operating income or expenses) in correspondence with the financial investment account.

Thus, if, in accordance with the accounting policy, the organization adjusts the value of securities based on their market price on a monthly basis, then as of January 31, 2003, the accounting records reflect a decrease in the value of the shares held by the organization compared to their previous valuation by an entry in the credit of account 58 , subaccount 58-1, in correspondence with the debit of account 91, subaccount 91-2.

14.7. Audit of contributions to the authorized capital of other organizations

In accordance with clause 3 PBU 10/99 "Expenses of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 33n, contributions to the authorized capital of other organizations are not recognized as expenses of the organization.

The transfer of goods to the authorized capital for tax purposes is not recognized as a sale on the basis of subpara. 4 p. 3 art. 39 of the Tax Code, therefore, such a transfer is not subject to VAT (clause 2, article 146 of the Tax Code).

The transfer of goods by an organization as a contribution to the authorized capital of an LLC is reflected in the debit of account 58, subaccount 58-1, and the credit of account 41 "Goods".

The difference between the monetary value of the goods transferred to the authorized capital and the amount of the actual cost of these goods is included in other operating income, which is reflected in the credit of account 91 "Other income and expenses", subaccount 91-1 "Other income", in correspondence in this case with debit of account 58 "Financial investments", subaccount 58-1 "Shares and shares".

According to paragraph 3 of Art. 270 of the Tax Code, expenses in the form of a contribution to the authorized (share) capital are not taken into account when determining the tax base for income tax.

Features of determining the tax base for income received from the transfer of property to the authorized (share) capital (fund) of the organization are established by Art. 277 of the Tax Code, according to sub. 2, paragraph 1 of which the difference between the value of the property contributed as payment and the nominal value of the acquired share in the authorized capital is not recognized as the profit of the taxpayer-participant.

14.8. Audit of information on financial investments in reporting

In 2003, information on financial investments of the organization was formed in accounting and financial statements in accordance with the rules established by PBU 19/02 "Accounting for financial investments", approved by order of the Ministry of Finance of the Russian Federation of December 10.12.2002, 126 No. XNUMXn.

Proceeds related to the sale of securities are considered, in accordance with paragraph 7 of PBU 9/99 "Income of the organization", approved by order of the Ministry of Finance of the Russian Federation of 06.05.1999 No. 32n, as operating income, for which account 91 "Other income and expenses" is intended to be accounted for by the Chart of Accounts ", subaccount 91-1 "Other income". Proceeds from the sale of securities are recognized in accounting in accordance with paragraph 16 of PBU 9/99, subject to all the conditions specified in paragraph 12 of PBU 9/99. The amount of receipt is determined based on the price established by the contract between the organization and the buyer (clause 6, 10.1 PBU 9/99). At the same time, the book value of the shares is debited from account 58, subaccount 58-1, to the debit of account 91, subaccount 91-2 "Other expenses". Profit (loss) from other income and expenses, in accordance with the Instructions for the application of the Chart of Accounts, is reflected in the closing entries of the past month on the debit of account 99 "Profit and Loss", for example, sub-account 99-1 "Profit (loss) before tax", and credit account 91, sub-account 91-9 "Balance of other income and expenses".

Features of determining the tax base for income tax on operations with securities are established by Art. 280 NK.

Taxpayers who incurred a loss (losses) from transactions with securities in the previous tax period or in previous tax periods are entitled to reduce the tax base received from transactions with securities in the reporting (tax) period (to carry forward these losses to the future), in the manner and under the conditions set out in Art. 283 of the Tax Code (clause 10 of article 280 of the Tax Code). However, it should be borne in mind that the loss carried forward can only be deducted from the tax base for similar transactions: the tax base for transactions with securities traded on an organized market cannot be reduced by a loss received from transactions with securities that are not traded on such a market , and vice versa. Losses on transactions of purchase and sale of securities are subject to transfer to the future within 10 years following the reporting period in which this loss was received (clause 2 of article 283 of the Tax Code). At the same time, the total amount of the loss carried forward in any reporting (tax) period may not exceed 30% of the tax base for transactions with securities.

The amount of the resulting loss in accordance with paragraph 8-11 of PBU 18/02 "Accounting for income tax settlements", approved by order of the Ministry of Finance of the Russian Federation dated November 19.11.2002, 114 No. XNUMXn, forms a deductible temporary difference, leading to the formation of deferred income tax, which must reduce the amount of income tax payable to the budget in the next reporting period or in subsequent reporting periods.

In the Profit and Loss Statement (Form No. 2), the amount of loss from the sale of goods is shown in parentheses on the line "Profit (loss) from sales". Income and expenses from the sale of securities are disclosed in this form on a gross basis as other operating income and other operating expenses.

In accordance with Art. 315 of the Tax Code, when calculating the tax base, the proceeds from the sale of goods and the proceeds from the sale of securities that are not traded on the organized market are separately reflected; expenses associated with the sale of goods and expenses incurred in the sale of securities not traded on the organized market; as well as profit (loss) from the sale of goods and profit (loss) from the sale of these securities.

Profit from the sale of securities that are not traded on the organized securities market is reflected by the taxpayer in lines 040, 070 and 120 of sheet 06 of the Declaration on corporate income tax (approved by order of the Ministry of Taxes and Dues of the Russian Federation dated 07.12.2001 No. BG-3-02 / 542).

The auditor checks that the organization has a Securities Accounting Book, which should describe all securities held by the organization.

TOPIC 15. AUDIT OF EXPENSES AND INCOME OF THE ORGANIZATION

15.1. Cost audit

In accordance with paragraph 17 of PBU 10/99 "Expenses of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 33n, expenses are subject to recognition in accounting, regardless of the intention to receive revenue, operating or other income and on the form of expenditure (monetary , natural and other). The conditions for the recognition of expenses in accounting are established by paragraph 16 of PBU 10/99, according to which the expense must be made in accordance with a specific contract, the requirement of legislative and regulatory acts, business customs; there should be no uncertainty in the amount of expenditure; there must be confidence that as a result of a particular transaction there will be a decrease in the economic benefits of the organization.

The expenses of the organization associated with the performance of work on the main type of activity are expenses for the organization on ordinary activities. Expenses for ordinary activities reflected on account 20 "Main production" are included by the organization in the formation of the financial result in the cost of work performed (clauses 5, 9 PBU 10/99 "Expenses of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 33n, Instructions for the use of the Chart of Accounts).

At the same time, the expenses associated with the purchase and sale of goods are considered expenses for ordinary activities on the basis of clause 5 of PBU 10/99 "Income of the organization".

For the purposes of calculating income tax, the costs associated with the delivery of goods to the buyer, in accordance with Art. 320 Tax Codes are recognized as indirect expenses and fully reduce the income from the sale of the current month.

In accordance with the Instructions for the Application of the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations, approved by Order of the Ministry of Finance of the Russian Federation No. 31.10.2000n dated October 94, 23, information on the costs of production that are auxiliary (auxiliary) for the main production of the organization is reflected on account 25 "Auxiliary production". The debit of this account is debited with direct costs directly related to the release of products (from the credit of accounts for accounting for inventories, settlements with personnel for wages, etc.), as well as indirect costs associated with the management and maintenance of auxiliary industries (from the credit of accounts 26 " General production expenses" and XNUMX "General expenses").

The credit of account 23 reflects the amount of the actual cost of finished products.

In accordance with the accounting policy, management expenses reflected on account 26 "General expenses" are considered as semi-fixed expenses in the cost of sales, which is reflected in accounting by correspondence on the debit of account 90 "Sales", subaccount 90-2 "Cost of sales" , and account credit 26.

In accounting, to summarize information on losses from defects in production, according to the Chart of Accounts, account 28 "Marriages in production" is intended. The costs associated with the correction of marriage are accounted for in the debit of account 28 in correspondence with the corresponding accounts, in this case with the credit of accounts: 23 "Auxiliary production", 70 "Settlements with personnel for wages", 69 "Calculations for social insurance and security" . The credit of account 28 reflects the amounts attributable to the reduction of losses from the marriage, in this case, the amounts to be withheld from the culprit of the marriage. Calculations for compensation for material damage caused by an employee of the organization as a result of marriage are recorded on account 73 "Settlements with personnel for other operations", sub-account 73-2 "Calculations for compensation for material damage".

For the purposes of taxation of profits, in the absence of guilty persons and documentary evidence of expenses compensated to the buyer, losses from marriage are taken into account as part of other expenses related to production and sale, on the basis of subpara. 47 paragraph 1 of Art. 264 NK. For a manufacturing organization, these costs are considered indirect and are taken into account as part of the expenses of the reporting period in full (clause 2, article 318 of the Tax Code).

In accounting, the recognition of expenses associated with the sale of goods, including advertising expenses, in accordance with the Chart of Accounts for accounting for the financial and economic activities of organizations and the Instructions for its application, is reflected in the debit of account 44 "Sales expenses" in correspondence with the credit of account 41 "Products".

In the accounting of a manufacturing organization, hospitality expenses can be recorded on account 44 "Sales expenses".

According to paragraph 7 of Art. 171 of the Tax Code if, in accordance with Ch. 25 of the Tax Code, expenses are accepted for taxation purposes according to the standards, the amounts of VAT on such expenses are deductible in the amount corresponding to the specified standards.

15.2. Audit of accounting for work in progress

The procedure for evaluating the balances of work in progress (hereinafter referred to as WIP) is determined by Art. 319 NK. In accordance with this article of the Tax Code, organizations whose production is related to the performance of work allocate the amount of direct costs to WIP balances in proportion to the share of incomplete (or completed, but not accepted at the end of the current month) work orders in the total volume of orders completed during the month. Therefore, when determining the amount of direct costs related to work in progress, according to the methodology set out in Art. 319 of the Tax Code, the cost of orders not accepted by the customer, including orders in terms of completed but not accepted stages, is taken into account.

The amount of WIP balances at the end of the current month is included in the material costs of the next month (clause 1, article 319 of the Tax Code).

In particular, when determining the volume of executed orders, the taxpayer can choose one of the following indicators: the cost of orders (in this case, the indicated cost can be determined as the price of these orders at the contractual cost, the estimated cost without taking into account the rate of return, or as their cost formed on the basis of direct costs, related directly to each order) or in-kind indicators, if works, services can be measured in similar indicators and these indicators are comparable for different orders. This choice must be fixed in the accounting policy for tax purposes for each category of orders. When applying the mechanism for distributing direct costs to the balances of WIP, provided for in Art. 319 of the Tax Code, it should be borne in mind that the amounts of balances of work in progress determined at the end of the month are taken into account when distributing direct costs in the next month.

15.3. Audit of settlements with customers and the procedure for determining revenue

The accounting area under consideration is characterized by certain risk factors due to the following reasons:

▪ lack of repeated control over primary documents at the stage of their creation and verification (as happens with documentation created at the enterprise);

▪ the difficulty of restoring missing documents and correcting incorrectly executed documents;

▪ high probability of untimely receipt of supporting documents;

▪ lack of unification of a significant part of the primary documents confirming the completion of these transactions (especially transactions related to payments for services rendered). Hence the risk that the primary documentation may not be recognized as supporting evidence if there are any doubts about the correctness of the documents and their completeness.

Account 62 "Settlements with buyers and customers" is intended for accounting of settlements with buyers and customers.

The amount of the received advance is taken into account on account 62 separately. The organization is obliged to calculate and pay VAT to the budget on the amount of the prepayment received on the basis of subpara. 1 p. 1 art. 162 NK. The tax in this case is calculated at the rate of 18/118 (clause 4 of article 164 of the Tax Code). The amount of calculated VAT is reflected in the credit of account 68 "Calculations on taxes and fees" and the debit of account 62.

In accordance with the Chart of Accounts for the financial and economic activities of organizations and the Instructions for its use, account 90 "Sales" is intended to summarize information on income and expenses associated with the organization's ordinary activities, as well as to determine the financial result for them. The loss from the sale of goods is reflected in the closing entries of the month on the credit of account 90, subaccount 90-9 "Profit / loss on sales", and the debit of account 99 "Profit and loss", subaccount, for example, 99-1 "Accounting profit (loss) before tax ".

According to paragraph 1 of Art. 475 of the Civil Code, the buyer, to whom the goods of inadequate quality are transferred, has the right to demand from the seller the free elimination of defects in the goods within a reasonable time. Moreover, if the product does not have a warranty period or expiration date, a claim may be made to the seller within the period established by Art. 477 of the Civil Code, i.e. within two years from the date of transfer of the goods to the buyer or within a longer period when such a period is established by law or by the contract of sale.

Receipts (revenues) associated with the sale of goods, the performance of work (services) are considered income from ordinary activities (clause 5 of PBU 9/99 "Income of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 32n).

Revenue is recognized in accounting in the presence of the conditions listed in clause 12 of PBU 9/99, and is accepted for accounting in an amount equal to the amount of receipt of cash and other property and (or) the amount of receivables, determined based on the price established by the agreement between organization and customer (clause 6 PBU 9/99).

For the purposes of taxation of profits, sales income is recognized as proceeds from the sale of work, which is determined on the basis of all receipts related to settlements for work performed, less taxes charged to the buyer (clause 1 of article 248, clause 1, 2 of article 249 of the Tax Code ). In accordance with paragraph 3 of Art. 271 of the Tax Code for income from sales, the date of receipt of income is the date of transfer of work (the date of signing by the parties of the act of acceptance and delivery of work performed), determined in accordance with paragraph 1 of Art. 39 of the Tax Code, regardless of the actual receipt of funds in their payment.

For the purpose of profit taxation, when income is recognized on an accrual basis, the date of receipt of income from the sale of goods is the date of sale of these goods, determined in accordance with paragraph 1 of Art. 39 of the Tax Code, regardless of the actual receipt of funds (other property (works, services) and (or) property rights) in their payment (clause 3 of article 271 of the Tax Code).

According to paragraph 2 of Art. 318 of the Tax Code, the amount of indirect expenses for production and sale, carried out in the reporting (tax) period, is fully related to the expenses of the current reporting (tax) period, taking into account the requirements established by the Tax Code. The amount of direct expenses incurred in the reporting (tax) period also refers to the expenses of the current reporting (tax) period, with the exception of the amounts of direct expenses allocated to the balance of work in progress, finished products in stock and shipped, but not sold in the reporting (tax) period production period.

When recognized in accounting, the amount of proceeds from the performance of work in accordance with the Chart of Accounts for accounting of the financial and economic activities of organizations and the Instructions for its application is reflected in the credit of account 90 "Sales", subaccount 90-1 "Revenue", in correspondence with the debit of account 62 "Settlements with buyers and customers.

At the same time, the costs associated with the performance of work, accounted for on account 20 "Main production" and which, in accordance with paragraph 5 of PBU 10/99 "Expenses of the organization", approved by order of the Ministry of Finance of the Russian Federation of 06.05.1999 No. 33n, expenses for ordinary activities , are debited to the debit of account 90, subaccount 90-2 "Cost of sales".

According to sub. 1 p. 1 art. 146 of the Tax Code, operations for the implementation of work on the territory of the Russian Federation are recognized as an object of VAT taxation. The tax base for VAT is determined in the manner prescribed by paragraph 1 of Art. 154 NK. Taxation is carried out at a tax rate of 20% (clause 3, article 164 of the Tax Code).

The amount of VAT payable to the budget is reflected in the debit of account 90, subaccount 90-3 "Value added tax", in correspondence with the credit of account 68 "Calculations on taxes and fees".

A positive amount difference arising upon receipt of payment from the buyer is recognized in tax accounting as non-operating income (clause 11.1 of article 250, subclause 1 of clause 7 of article 271 of the Tax Code), indicated on line 010 (and also on line 130) of Appendix No. 6 "Extra-operating income" to sheet 02 and participates in the formation of the indicator of line 030 "Extra-operating income" sheet 02.

Despite the fact that the positive sum difference in accounting is reflected in the composition of income from ordinary activities, and in tax accounting - in the composition of non-operating income, this difference does not lead to permanent and / or temporary differences that are accounted for in the manner established by RAS 18/ 02 "Accounting for income tax settlements", approved by order of the Ministry of Finance of the Russian Federation dated November 19.11.2002, 114 No. XNUMXn.

15.4. Completed stages of work

According to the Instructions for the application of the Chart of Accounts, to summarize information on the stages of work completed in accordance with the concluded contracts that have independent significance, account 46 "Completed stages of work in progress" is intended (the account is used, if necessary, by organizations performing long-term work, initial and final deadlines which usually refer to different reporting periods). The main correspondence is given in the section "Construction Contracts".

15.5. Audit of financial results

According to the Chart of Accounts, account 99 is intended to summarize information on the formation of the final financial result of the organization's activities in the reporting year. The debit of account 99 "Profits and losses" reflects losses (losses, expenses), and the credit - profits (income) of the organization. Comparison of debit and credit turnover for the reporting period shows the final financial result of the reporting period.

Paragraph 1 of Art. 252 of the Tax Code establishes that for the purpose of taxing profits, the taxpayer reduces the income received by the amount of expenses incurred, with the exception of the expenses specified in Art. 270 NK.

Starting with the financial statements for 2003, RAS 18/02 "Accounting for income tax settlements" is applied, approved by order of the Ministry of Finance of the Russian Federation dated November 19.11.2002, 114 No. 18n. Expenses excluded from the calculation of the tax base for income tax for both the reporting period and subsequent reporting periods are recognized as a constant difference for the purposes of PBU 02/4 (clause 18 PBU 02/XNUMX).

According to paragraph 6 of PBU 18/02, permanent differences of the reporting period are reflected in accounting separately (in the analytical accounting of the corresponding asset and liability account, in the assessment of which there was a permanent difference), in this case, in analytical accounting to account 91, subaccount 91-2 .

The occurrence of a permanent difference leads to the formation of a permanent tax liability, which is the amount of tax that increases tax payments on income tax in the reporting period.

A permanent tax liability is defined as the product of a permanent difference that arose in the reporting period by the income tax rate established by the legislation of the Russian Federation on taxes and fees and effective on the reporting date, and is recognized by the organization in the reporting period in which the permanent difference arises (clause 7 PBU 18/02).

According to paragraph 7 of PBU 18/02 and the Instructions for the Application of the Chart of Accounts, permanent tax liabilities are reflected in accounting in the debit of account 99 "Profit and Loss" (for example, subaccount 99-2 "Permanent tax liability") in correspondence with the credit of account 68 " Calculations on taxes and fees.

When compiling the annual financial statements, account 99 "Profit and Loss" is closed: with the final entries in December, the amount of accrued conditional income for income tax is debited from the debit of subaccount 99-1 to the credit of subaccount 99-3, to the debit of subaccount 99-1 from the credit of subaccount 99- 2, the amount of the permanent tax liability is written off. The final result of the organization's activities (in this case, loss) revealed at the end of the year on subaccount 99-1 is subject to crediting to account 84 "Retained earnings (uncovered loss)": debit of account 84 credit of subaccount 99-1. Analytics opened for account 91, sub-account 91-2, and for account 99, sub-account 99-1, can also be transferred to account 84 and accounted for in the same manner.

Identified violations are recorded in the working documentation and taken into account when the auditor expresses an opinion on the reliability of the financial (accounting) statements.

Topic 16. AUDIT OF CONTRACTUAL RELATIONSHIPS

When auditing contractual relations, the auditor checks not only the legal aspects of the operation of contracts, but also their impact on the procedure for reflecting transactions related to them in accounting. A legal expert may be used to conduct the verification.

16.1. Contract of sale

This type of contracts is most common in business practice and contributes, on the one hand, to ensuring the production process, and on the other hand, to the realization of the main goal of creating and operating commercial enterprises - making a profit.

An audit can be carried out selectively (if there are a large number of counterparties) or in a continuous manner. In both cases, it is necessary to identify and subject to more thorough verification agreements (contracts) for large (for a given enterprise) amounts and agreements with special conditions of supply or transfer of ownership.

Under the contract of sale, one party (the seller) undertakes to transfer the thing (goods) into the ownership of the other party (the buyer), and the buyer undertakes to accept this goods and pay a certain amount of money for it (paragraph 1 of article 454 of the Civil Code). In particular, the obligation to transfer the goods is considered fulfilled at the time of the transfer of the goods to the buyer or at the time of delivery of the goods to the carrier (Article 458 of the Civil Code). The buyer is obliged to pay for the goods in the manner and within the time specified in the contract of sale (Article 486 of the Civil Code).

The obligation of the seller to transfer the goods to the buyer is considered fulfilled at the moment the goods are placed at the disposal of the buyer. The goods are considered to be placed at the disposal of the buyer when, by the time stipulated by the contract, the goods are ready for transfer at the appropriate place and the buyer, in accordance with the terms of the contract, is aware of the readiness of the goods for transfer. The goods are not recognized as ready for transfer if they are not identified for the purposes of the contract by marking or otherwise (clause 1 of article 458 of the Civil Code). From the moment when, in accordance with the law or the contract, the seller is considered to have fulfilled his obligation to transfer the goods to the buyer, the risk of accidental loss of the goods passes to the buyer (paragraph 1 of article 459 of the Civil Code).

The consequences of violation of the conditions on the assortment of goods are indicated in Art. 468 of the Civil Code, the rules of which apply, unless otherwise provided by the contract of sale (clause 6 of article 468 of the Civil Code).

Delivery contract - a type of contract of sale (clause 5 of article 454 of the Civil Code), which may provide for the retention of ownership of the shipped goods by the seller until payment is received from the buyer (article 491 of the Civil Code).

Fines, penalties, forfeits for violation of the terms of contracts are non-operating income, which are accepted for accounting in amounts awarded by the court or recognized by the debtor, in the reporting period in which the court made a decision on their collection or they are recognized as a debtor (clauses 8, 10.2 , 16 PBU 9/99 "Income of the organization", approved by order of the Ministry of Finance of the Russian Federation of 06.05.1999 No. 32n).

The procedure for tax accounting of non-operating income in the form of fines, penalties or other sanctions for violation of contractual obligations is determined by Art. 317 of the Tax Code, according to which taxpayers who determine income on an accrual basis reflect the due amounts of these incomes in accordance with the terms of the contract. If the terms of the contracts provide for all the circumstances under which counterparties are liable in the form of penalties or damages, then income is recognized as received by the taxpayer when these circumstances arise, with which the terms of the contract link the occurrence of penalties or compensation for losses, regardless of the claims presented by the taxpayer to the counterparty , but in the absence of objections of the debtor.

According to the International Rules for the Interpretation of Trade Terms "INCOTERMS" (publication of the International Chamber of Commerce, 1990, No. 460), the terms of delivery and fulfillment of obligations when trading with foreign counterparties are determined.

Contracts for the performance of work (provision of services) differ from supply contracts in the absence of a material base.

In this case, the contracting authority bears certain costs associated with its production and economic activities or ensuring this activity. In this case, there is no receipt of inventory items, but the auditor must control the validity of attributing these costs to the relevant accounting accounts.

16.2. Construction contracts

The legal relations of the parties under a construction contract are regulated by paragraph 3 of Ch. 37 GK. According to Art. 740 of the Civil Code, under a construction contract, the contractor undertakes to build a certain facility on the instructions of the customer or perform other construction work within the period established by the contract, and the customer undertakes to create the necessary conditions for the contractor to perform the work, accept their result and pay the stipulated price.

The proceeds from the performance of construction work serve as income for construction organizations for ordinary activities on the basis of paragraph 5 of PBU 9/99 "Income of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 32n. At the same time, according to paragraph 13 of PBU 9/99, an organization can recognize in accounting the proceeds from the performance of work as the work is ready (i.e., in stages) or upon completion of the work as a whole.

A similar procedure for the recognition of revenue by construction organizations (contractors) is provided for by PBU 2/94 "Accounting for agreements (contracts) for capital construction", approved by order of the Ministry of Finance of the Russian Federation dated December 20.12.1994, 167 No. 16. According to paragraph 2 of PBU 94/XNUMX, the contractor can apply two methods determining the financial result depending on the accepted forms of determining income. When determining income as individual work is completed on structural elements or stages, the "Income on the cost of work as it is completed" method can be applied.

When applying the method "Income on the cost of work as they are ready", the financial result of the contractor is revealed for a certain reporting period of time after the complete completion of individual work on the structural elements or stages provided for by the project, as the difference between the volume of work performed and the costs attributable to them (p 17 PBU 2/94).

To summarize information on the stages of work completed in accordance with the concluded agreements, which have independent significance, the Chart of Accounts provides account 46 "Completed stages of work in progress". The debit of account 46 "Completed stages of work in progress" takes into account the cost of the stages of work completed by the organization, paid by the customer, accepted in the prescribed manner, in correspondence with account 90 "Sales", subaccount 90-1 "Revenue". At the same time, the amount of costs for completed and accepted stages of work is debited from the credit of account 20 "Main production" to the debit of account 90 "Sales", subaccount 90-2 "Cost of sales".

The amounts of funds received from customers in payment for completed and accepted stages are reflected in the debit of cash accounts in correspondence with account 62 "Settlements with buyers and customers". The indicated amounts are considered advance payments for the organization and are also accounted for separately on account 62. Upon completion of the entire work as a whole, the cost of the stages paid by the customer, recorded on account 46 "Completed stages for work in progress", is written off to the debit of account 62 "Settlements with buyers and customers", i.e. account 46 is closed after the delivery of the completed construction object to the customer.

When recognizing proceeds from the performance of work by stages, the delivery of a separate stage of the work performed for tax purposes is considered as the sale of these works with the accrual and payment of taxes established by law on such sale.

In accordance with sub. 1 p. 1 art. 146 of the Tax Code, the delivery of the results of completed construction work is recognized as an object of taxation for value added tax. The tax base for the delivery of the results of completed construction work is determined as the cost of these works, calculated on the basis of prices determined in accordance with Art. 40 of the Tax Code (clause 1 of article 154 of the Tax Code). At the same time, the tax base is determined taking into account advance and other payments received on account of the forthcoming performance of work (clause 1, article 162 of the Tax Code).

16.3. donation agreements

The legal regulation of donation is established by the provisions of Ch. 32 "Donation" of the Civil Code. According to paragraph 1 of Art. 572 of the Civil Code, under a gift agreement, one party (donor) transfers free of charge or undertakes to transfer to the other party (donee) a thing in ownership, or a property right (claim) to itself or to a third party, or releases or undertakes to release it from a property obligation to itself or to third party.

Since the transfer on a gratuitous basis (donation) of goods is considered an object of VAT taxation (subclause 1, clause 1, article 146 of the Tax Code), the amount of VAT paid to the supplier of goods and lawfully accepted for deduction on the basis of the supplier's invoice (subclause 2, clause 2 171 article 1, paragraph 172 article XNUMX of the Tax Code), is not subject to restoration.

16.4. Agency contract

The legal relations of the parties under the agency agreement are regulated by Ch. 52 "Agenting" of the Civil Code.

According to paragraph 1 of Art. 1005 of the Civil Code, under an agency agreement, one party (agent) undertakes, for a fee, to perform legal and other actions on behalf of the other party (principal) on its own behalf, but at the expense of the principal or on behalf and at the expense of the principal.

Article 1011 of the Civil Code determines that the rules stipulated by Ch. 49 "Order" or Ch. 51 "Commission" of the Civil Code, depending on whether the agent acts under the terms of this agreement on behalf of the principal or on his own behalf, if these rules do not contradict the provisions of Ch. 52 "Agenting" of the Civil Code or the essence of the agency agreement. In this case, the agent acts on his own behalf, therefore, the rules established by Ch. 51 "Commission" of the Civil Code.

In accordance with Art. 1001 ch. 51 of the Civil Code, the committent is obliged, in addition to paying the commission fee, to reimburse the commission agent for the amounts spent by him on the execution of the commission order.

The transfer of funds to the agent for the performance of the contract is reflected in the accounting records of the organization in accordance with the Chart of Accounts for Accounting for the Financial and Economic Activities of Organizations and the Instructions for its Application, approved by Order of the Ministry of Finance of the Russian Federation dated October 31.10.2000, 94 No. creditors" in correspondence with the credit of account 76 "Settlement accounts".

Paragraph 1 of Art. 996 of the Civil Code establishes that things acquired by the commission agent at the expense of the committent are considered the property of the latter. Thus, despite the fact that the agent purchases imported raw materials on its own behalf, this operation is reflected in the accounting records of the principal organization as the purchase of raw materials by import. In addition, exchange differences arising from the agent when purchasing imported raw materials for the principal organization are charged to the principal organization on the basis of Art. 1001 of the Civil Code as expenses associated with the execution of the order.

16.5. Contracts for the implementation of research and development work

The legal relations of the parties under the contract for the performance of research work are regulated by Ch. 38 "Performance of research, development and technological work" GK.

Under the contract for the performance of scientific research (hereinafter referred to as R&D), the contractor undertakes to conduct scientific research stipulated by the customer's technical assignment, and the customer undertakes to accept the work and pay for it (clause 1 of article 769 of the Civil Code). According to paragraph 1 of Art. 770 of the Civil Code, with the consent of the customer, the contractor has the right to involve third parties in the execution of the contract for the performance of research and development.

The transfer of an advance payment under a contract for developmental development (hereinafter referred to as R&D) is reflected in the debit of account 60 "Settlements with suppliers and contractors" in correspondence with the credit of account 51 "Settlement accounts" (Instruction on the application of the Chart of Accounts for accounting of financial and economic activities of organizations.

In accordance with clause 5 of PBU 17/02, information on R & D expenses is reflected in accounting as investments in non-current assets.

According to the Instructions for the application of the Chart of Accounts, expenses for completed R&D are debited from account 08, subaccount 08-8, to the debit of account 04 "Intangible assets", which are accounted separately, if the conditions listed in paragraph 7 of PBU 17/02 are met.

In accounting, the write-off of expenses for OKR can be carried out in a linear way within a period independently established by the organization in the accounting policy, but not more than five years (clause 11 PBU 17/02).

For the purposes of taxation of profits in accordance with paragraphs 1, 2 of Art. 262 of the Tax Code, R & D and (or) R & D expenses are recognized as expenses related to the creation of new or improvement of manufactured products (goods, works, services), after the completion of these studies or developments (completion of individual stages of work) and signing by the parties of the acceptance certificate. The specified expenses are evenly included by the taxpayer into other expenses within three years, subject to the use of the specified research and development in production and (or) in the sale of goods (performance of work, provision of services) from the 1st day of the month following the month in which the such studies (separate stages of research).

In accounting, expenses for R&D can be written off in a linear way within a period independently set by the organization based on the expected period of use of the results of R&D, during which the organization can receive economic benefits (income), but not more than five years (clause 11 PBU 17 /02).

16.6. Loan agreements

Under a loan agreement, a bank or other credit institution (creditor) undertakes to provide funds (credit) to the borrower in the amount and on the terms stipulated by the agreement, and the borrower undertakes to return the amount of money received and pay interest on it (paragraph 1 of article 819 of the Civil Code).

The auditor should be convinced of correctness of classification of credit agreements on long-term and short-term; intended use of funds; correct reflection of accrued and paid interest for the use of credit funds.

During the audit, the most common types of errors and violations under the item of accounting (financial) statements "Loans and credits":

1) violation of the principles of valuation of non-current and current assets, for the acquisition (creation) of which the funds of loans and credits were attracted:

a) inclusion in the inventory value of non-current assets of interest on loans and credits attracted for their acquisition (creation) after the registration of these objects;

b) incorrect formation of the initial cost of financial investments acquired with borrowed funds;

c) incorrect formation of the actual cost of inventories acquired using loans and credits;

2) attribution to own sources of funds of interest on loans and credits in excess of the standard established by Ch. 25 NK;

3) allocation to own sources of funds of interest on loans and credits received in foreign currency at a rate exceeding 15%;

4) overstating the amount of income tax by including interest on interest-free loans in non-operating income;

5) incorrect calculation of exchange rate and sum differences arising in connection with obtaining bank loans in foreign currency;

6) incorrect reflection in the accounting of liabilities to third parties in connection with relations related to obtaining loans and credits.

In accordance with the Chart of Accounts for the financial and economic activities of organizations and the Instructions for its application, information on the status of short-term (for a period not exceeding 12 months) loans received by the organization is reflected on account 66 "Settlements on short-term loans and loans", on long-term loans and loans on account 67 "Settlements on long-term credits and loans". The interest payable on the received loan is taken into account on accounts 66 and 67 separately. In accounting, segregation can be ensured by opening the corresponding sub-accounts to accounts 66, 67, for example 66-1 "Calculations on the principal amount of the debt", 66-2 "Calculations on accrued interest".

In accounting, information on the costs associated with the fulfillment of obligations on loans and credits received is formed in accordance with the requirements of PBU 15/01 "Accounting for loans and credits and the costs of servicing them", approved by order of the Ministry of Finance of the Russian Federation dated 02.08.2001 No. 60n.

16.7. Surety agreements

Under a surety agreement, the guarantor undertakes to be responsible to the creditor of another person for the fulfillment by the latter of his obligations in full or in part (Article 361 of the Civil Code). According to Art. 323 of the Civil Code, solidary debtors remain obligated until the obligation is fully performed. These agreements may indicate the affiliation of the parties and, in this regard, require special attention of the auditor.

The guarantor who has fulfilled the obligation shall transfer the creditor's rights under this obligation to the extent that the guarantor has satisfied the creditor's claim. The guarantor is also entitled to demand from the debtor the payment of interest on the amount paid to the creditor and compensation for other losses incurred in connection with the liability for the debtor. Upon fulfillment by the guarantor of the obligation, the creditor is obliged to hand over to the guarantor the documents certifying the claim against the debtor and transfer the rights securing this claim (clauses 1, 2 of article 365 of the Civil Code). Consequently, from the moment the guarantor fulfills the creditor's demand from the borrowing organization, the initial requirement for repayment of the loan ceases and a new obligation arises - to the guarantor.

TOPIC 17. AUDIT OF PAYMENT CALCULATIONS

17.1. Goals and objectives of the audit of payroll calculations

The purpose of the audit is to establish the compliance of the methodology used in the organization for accounting and taxation of payroll transactions and settlements with personnel in force in the Russian Federation in the audited period with the regulatory documents.

In the light of this goal, the following tasks can be solved:

1) assessment of the system of settlements with personnel existing in the organization;

2) assessment of the state of synthetic and analytical accounting of payroll transactions and settlements with the organization's personnel in the audited period;

3) assessment of the completeness of the reflection of completed transactions in accounting;

4) verification of compliance by the organization with tax legislation on transactions related to payroll settlements;

5) verification of the organization's compliance with the legislation on settlements with extra-budgetary funds, on the unified social tax.

The audit should be planned on the basis of the understanding reached by the audit organization of the activities of the economic entity. The purpose of planning is to organize an efficient and cost-effective inspection. At the planning stage, it is necessary to determine the strategy and tactics of the audit, the timing of its implementation; develop a general plan and audit program.

The audit organization in the performance of the above work must be guided by the Federal Audit Standard No. 3 "Audit Planning".

The general plan for auditing payroll operations and settlements with the organization's personnel includes:

1) audit of registration of primary documents;

2) audit of the payroll system;

3) auditing the validity of benefits and deductions from wages;

4) audit of the identity of indicators of financial statements and accounting registers;

5) audit of calculations for the accrual of payments to off-budget funds and the unified social tax.

17.2. Preparation of audit working documentation

The purpose of the preparation of working papers is to document that the audit was properly planned, the implementation of the plan by the auditors was monitored daily and reviewed during the audit, that appropriate studies were performed, if necessary.

Federal Auditing Standard No. 2 "Audit Documentation" provides for a description of the procedures used by the audit organization and their results.

Since the audit of compliance with labor legislation and payroll calculations is very laborious, to reduce the time it takes to carry out it, you can use the audit scheme for synthetic and analytical accounting in the journal-order form of accounting and the scheme for matching operations reflected in accounting to completed business transactions.

The primary accounting documents of the organization verified by the auditor are recorded in the working documents of the auditor.

17.3. Methods for Obtaining Audit Evidence

When conducting an audit of operations to comply with labor laws and payroll calculations, the following methods and techniques are used:

▪ checking the client’s arithmetic calculations (recalculation);

▪ checking compliance with the accounting rules for individual business transactions, confirmation;

▪ oral survey of personnel, management of an economic entity and an independent (third) party;

▪ document verification, tracking, analytical procedures.

Checking the arithmetic calculations of the client (recalculation) is used to confirm the reliability of the arithmetic calculations of the amounts of personnel remuneration and the accuracy of their reflection in accounting records.

Checking compliance with the accounting rules for individual business transactions allows the audit organization to monitor the accounting work performed by the accounting department and the correspondence of payroll accounts.

The confirmation is used to obtain information about the reality of the balances on the accounts of payroll settlements by the budget and extra-budgetary funds.

An oral survey is used in the course of obtaining answers to the auditor's questionnaire during a preliminary assessment of the state of accounting for payroll settlements with personnel, as well as in the process of checking them, when clarifying with specialists certain business transactions that are in doubt.

Checking documents allows the auditor to verify the reality of a particular document. It is recommended to select certain entries in accounting and trace the reflection of operations in accounting up to that primary document, which should confirm the reality and expediency of performing this operation.

Tracking is used in the study of credit turnover on analytical accounts, statements, reports, synthetic accounts reflected in the General Ledger, while it is necessary to pay attention to non-standard correspondence of accounts.

Analytical procedures are used when comparing the payroll of the reporting period with data from previous periods.

17.4. Audit scope planning

When drawing up a plan and program for the audit of settlements with personnel, the auditor should pay attention to the nature and specifics of the enterprise's activities and the relevant legislative aspects of the regulation of accruals and deductions. The main areas of legislative regulation of settlements with personnel for remuneration can be grouped into the following areas:

▪ hiring;

▪ dismissal of employees;

▪ calculation and payment of wages;

▪ deductions from wages;

▪ depositing unpaid wages on time;

▪ provision of leave;

▪ payment of temporary disability benefits;

▪ other issues regarding accruals and payments equivalent to wages.

17.5. Calculation and payment of wages

To summarize information on settlements with employees of the organization for remuneration (for all types of remuneration, bonuses, allowances and other payments) by the Chart of Accounts for accounting for the financial and economic activities of organizations and the Instructions for its application, approved by order of the Ministry of Finance of the Russian Federation dated October 31.10.2000, 94 No. 70n, account 5 "Settlements with personnel for wages" is intended. In accordance with paragraphs 7, 10 of PBU 99/06.05.1999 "Expenses of the organization", approved by order of the Ministry of Finance of the Russian Federation of 33 No. 70n, labor costs are considered expenses for ordinary activities. The amounts of wages due to employees are reflected in the credit of account XNUMX in correspondence with the accounts for accounting for production costs (sales expenses) and other sources.

The employer has the right to establish various systems of bonuses, incentive payments and allowances, taking into account the opinion of the representative body of employees. These systems can also be established by a collective agreement (Article 144 of the Labor Code).

For the amount accrued in wages, the organization is obliged to charge a single social tax on the basis of paragraph 1 of Art. 236, paragraph 1 of Art. 237 of the Tax Code, as well as to make deductions for compulsory social insurance against industrial accidents and occupational diseases (clause 3 of the Rules for the calculation, accounting and spending of funds for the implementation of compulsory social insurance against industrial accidents and occupational diseases, approved by the Decree of the Government of the Russian Federation of 02.03.2000 .184 No. XNUMX).

In addition, the total amount of labor costs is included in the base for calculating insurance premiums for mandatory pension insurance (clause 2, article 10 of Federal Law No. 15.12.2001-FZ of December 167, XNUMX "On Compulsory Pension Insurance in the Russian Federation").

17.6. Payroll deductions

Wages to employees of the organization are considered to be the object of taxation of personal income tax (hereinafter referred to as personal income tax) on the basis of clause 1 of Art. 209 NK. In accordance with paragraph 3 of Art. 210 of the Tax Code for income for which a tax rate of 13% is provided, the tax base is determined as the monetary value of such income subject to taxation, reduced by the amount of tax deductions (from 400 to 3000 rubles for an employee and 600 rubles for each dependent), provided Art. 218-221 of the Tax Code, taking into account the features established by Ch. 23 "Tax on personal income" of the Tax Code.

The specified deductions are provided for each month of the calendar year and are valid until the month in which the employee's income, calculated on an accrual basis from the beginning of the calendar year by the employer providing these standard tax deductions, exceeded 20 rubles. (for deductions per employee) and 000 rubles. (for dependents). Starting from the month in which the specified income exceeded the established amount, these tax deductions do not apply.

Withholding from the taxpayer of the accrued amount of personal income tax is carried out by the tax agent at the expense of any funds paid by the tax agent to the taxpayer, when the said funds are actually paid to the taxpayer or on his behalf to third parties (clause 4 of article 226 of the Tax Code). Taxation is carried out at a rate of 13% (Article 224 of the Tax Code).

The amount of personal income tax withheld when paying wages is determined according to the data contained in the payroll or in tax cards for recording income and personal income tax (form No. 1-01.11.2000 / 3 "On approval of reporting forms for personal income tax").

According to paragraph 1 of Art. 226 of the Tax Code, Russian organizations from which or as a result of relations with which the taxpayer (an individual - Article 207 of the Tax Code) received income, are required to calculate, withhold from the taxpayer and pay to the budget the amount of tax calculated at the appropriate tax rate. The withholding of the accrued amount of personal income tax is made directly from the income of the taxpayer when they are actually paid (clause 4 of article 226 of the Tax Code). The amount of personal income tax to be withheld from the wages of employees is reflected in the accounting on the credit of account 68 "Calculations on taxes and fees" and the debit of account 70.

In accordance with paragraph 6 of Art. 226 of the Tax Code, an organization - a tax agent is obliged to transfer the amounts of calculated and withheld personal income tax no later than the day the bank actually receives cash to pay income. On the day of receipt of cash in the bank for the payment of wages, the amount of calculated personal income tax is withheld from the income of employees, and the organization has a debt to the budget for the payment of personal income tax.

As for material assistance, according to paragraph 28 of Art. 217 of the Tax Code are not subject to personal income tax on the amount of material assistance provided by employers to their employees, not exceeding 2000 rubles. during the tax period (calendar year).

In addition to personal income tax deductions, deductions are possible by court decisions (alimony), at the initiative of the enterprise administration (for example, in compensation for damage, for marriage, outstanding accountable amounts not returned in a timely manner) and at the initiative of the employee (transfers at his statements). The auditor checks the availability of relevant orders, resolutions, applications for all these types of deductions. The amount of these deductions from the employee's salary can be reflected in column 16 (17, 18) of the Payroll.

There is no direct definition of a counting error in the current legislation. An analysis of current practice suggests that a counting error is the result of incorrect arithmetic operations and purely random, careless, mechanical actions, including when entering initial information into a PC, which do not require their legal assessment.

According to Art. 137 of the Labor Code, the employer has the right to decide to withhold from the employee's salary the amount overpaid to him as a result of a counting error, no later than one month from the date of incorrectly calculated payments, and provided that the employee does not dispute the grounds and amounts of the deduction. It should be noted that the amount of deductions for each payment of wages cannot exceed 20% of the wages due to the employee (Article 138 of the Labor Code).

The limitation on the amount of deductions from wages is established by Art. 138 of the Labor Code, but does not apply to deductions at the initiative of the employee himself. The amount deducted from the employee's income by his order does not reduce the tax base for personal income tax (clause 1, article 210 of the Tax Code).

17.7. Payroll audit

According to Art. 136 of the Labor Code, the period for paying wages is established by the internal labor regulations of the organization, the collective agreement, the labor contract, but at least twice a month.

The issuance of cash from the cash desks of enterprises for the payment of wages is carried out according to pay (settlement and payment) statements (without drawing up an account cash warrant for each recipient) with the imposition of a stamp on these documents with the details of an account cash warrant. Documents for the issuance of money must be signed by the head, chief accountant of the enterprise or persons authorized to do so (clause 14 of the Procedure for conducting cash transactions in the Russian Federation, approved by the decision of the board of directors of the Central Bank of the Russian Federation of September 22.09.1993, 40 No. XNUMX (hereinafter referred to as the Procedure)).

In accordance with clause 7 of the Procedure, enterprises that have a constant cash income, in agreement with the banks serving them, can spend it, in particular, on wages. At the same time, enterprises do not have the right to accumulate cash in their cash desks in excess of the established limits for future expenses, including wages.

Upon the expiration of the established terms of remuneration, the cashier closes the statement in the manner specified in clause 18 of the Procedure. At the end of the pay (settlement) statement, an inscription is made on the amounts actually paid and subject to deposit (if any), and they are reconciled with the total of the pay statement.

Outgoing cash orders issued on pay (settlement and payment) statements for wages and other payments equivalent to it are registered by the accounting department after they are issued in the register of incoming and outgoing cash documents (form No. 3 No. 18.08.1998) (clause 88 of the Order).

At the end of the last day of payment of wages on the basis of the Cashier's Report (the second copy of the sheet of the Cash Book (form No. KO-4, approved by the Decree of the State Statistics Committee of Russia dated August 18.08.1998, 88 No. 70)) and the expenditure cash documents attached to it, the accounting records reflect the amount paid to wages on the debit of account 50 "Settlements with personnel for wages" and the credit of account XNUMX "Cashier" (Chart of accounts for accounting of financial and economic activities of organizations and Instructions for its application.

The amount of deposited wages is reflected in the accounting on the credit of account 76 "Settlements with various debtors and creditors", sub-account 76-4 "Calculations on deposited amounts" and the debit of account 70.

17.8. Grant of vacation

The auditor should check the timeliness of the provision of leave to the organization's staff. In accordance with Art. 114, 115 of the Labor Code, the organization is obliged to provide employees with vacations of 28 calendar days each year while maintaining their place of work (position) and average earnings. By agreement between the employee and the employer, annual paid leave may be divided into parts. At the same time, at least one of the parts of this vacation must be at least 14 calendar days (Article 125 of the Labor Code).

The amount of average earnings saved to the employee during the vacation is calculated on the basis of the average wage, for the calculation of which Art. 139 of the Labor Code establishes a unified procedure, the features of which are determined by the Regulations on the peculiarities of the procedure for calculating the average wage, approved by Decree of the Government of the Russian Federation of 11.04.2003 No. 213 (hereinafter referred to as the Regulations). Based on Art. 139 of the Labor Code and clause 3 of the Regulations, the average earnings for vacation pay are calculated for the last three calendar months (from the 1st to the 1st). To calculate the average wage, all types of payments provided for by the remuneration system used in the relevant organization are taken into account, regardless of the sources of these payments.

According to sub. "b" of clause 4 of the Regulations, when calculating average earnings, time is excluded from the billing period, as well as amounts accrued during this time, if the employee received temporary disability benefits.

In accordance with paragraph 9 of the Regulations, the average daily earnings for payment of compensation for unused vacation in the event that time was excluded from the billing period in accordance with clause 4 of the Regulations, the average daily earnings are calculated by dividing the amount of actually accrued wages for the billing period by the amount, consisting of the average monthly number of calendar days (29,6) multiplied by the number of months fully worked, and the number of calendar days in months not fully worked. The number of calendar days in months not fully worked is calculated by multiplying the working days according to the calendar of the five-day working week falling on hours worked by a factor of 1,4.

The amount of average earnings saved by the employee during the vacation refers to labor costs, which, in accordance with paragraphs 5, 8, 9 of PBU 10/99 and paragraphs 36, 49 of the Instruction, are considered expenses for ordinary activities.

The amount of vacation pay is included in the tax base for personal income tax on the basis of paragraph 1 of Art. 210 NK. Taxation is carried out at a rate of 13% (Article 224 of the Tax Code).

In accordance with paragraph 7 of Art. 255 of the Tax Code for the purposes of taxation of profits, as part of expenses that reduce the tax base, the amount of average earnings accrued to the employee, retained for the duration of the vacation provided for by the legislation of the Russian Federation, is recognized.

On the amount of vacation pay, the organization is obliged to charge a single social tax on the basis of paragraph 1 of Art. 236, paragraph 1 of Art. 237 of the Tax Code, as well as to make deductions for compulsory social insurance against industrial accidents and occupational diseases (clause 3 of the Rules for the calculation, accounting and spending of funds for the implementation of compulsory social insurance against industrial accidents and occupational diseases).

In addition, the amount of vacation pay is included in the base for calculating insurance premiums for mandatory pension insurance (clause 2, article 10 of the Federal Law of December 15.12.2001, 167 No. XNUMX-FZ "On Compulsory Pension Insurance in the Russian Federation").

For the purposes of calculating income tax, the amount of vacation pay is taken into account as part of labor costs, and the amount of the unified social tax and insurance premiums for compulsory social insurance against accidents at work and occupational diseases are taken into account as part of other expenses associated with production and sales (para. 7 article 255, subparagraphs 1, 45 paragraph 1 article 264 of the Tax Code).

17.9. Unified social tax, contributions to the pension fund and insurance fund

In accounting, the amounts of the unified social tax (hereinafter referred to as the UST), calculated in the manner prescribed by Ch. 24 "Unified social tax" of the Tax Code, are included in the expenses for ordinary activities and are reflected in the debit of the accounts of expenses or other (on which the corresponding accruals were made in wages) in correspondence with account 69 "Calculations for social insurance and security" with a breakdown of the amount tax on amounts credited to the federal budget and related funds.

The amount of insurance premiums for compulsory pension insurance, calculated on the basis of the tariffs provided for in Art. 22, 33 of the Federal Law "On Compulsory Pension Insurance in the Russian Federation", reduces the amount of UST payable to the federal budget (tax deduction) in accordance with paragraph 2 of Art. 243 NK.

Advance payments for UST are calculated in the manner prescribed by Art. 243 of the Tax Code, and are reflected in accounting in accordance with the Instructions for the Application of the Chart of Accounts in this case on the debit of account 20 in correspondence with the credit of account 69 "Calculations for social insurance and security" on separate sub-accounts. In accordance with paragraph 2 of Art. 243 of the Tax Code, the amount of UST (the amount of advance payment for UST) payable to the federal budget is reduced by taxpayers by the amount of insurance premiums accrued by them for the same period (advance payments on insurance premium) for compulsory pension insurance (tax deduction), which is reflected in the accounting accounting entries on subaccounts of account 69 (on the debit of the subaccount "UST in the part credited to the federal budget" and on the credit of subaccounts "Insurance contributions for compulsory pension insurance to finance the insurance part of labor pension" and "Insurance contributions for compulsory pension insurance to finance the funded part of labor pensions").

In accordance with paragraph 3 of the Rules for the calculation, accounting and spending of funds for the implementation of compulsory social insurance against accidents at work and occupational diseases, insurance premiums are charged on the wages of employees accrued for all reasons. The amount of accrued insurance premiums refers to other expenses for ordinary activities and is reflected in accordance with the Chart of Accounts on the credit of account 69 on the corresponding sub-account.

For the purposes of taxation of profits, the accrued amounts of UST and insurance premiums for compulsory social insurance are included in other expenses associated with production and sale, in accordance with subpara. 1 and 45 paragraph 1 of Art. 264 NK.

Penalty amounts for UST, insurance premiums for mandatory pension insurance and insurance premiums for compulsory social insurance are reflected in accordance with the Chart of Accounts in the debit of account 99 "Profit and Loss" (sub-account "Payments from profit remaining after tax") in correspondence with the loan corresponding sub-accounts of account 69.

For the purposes of calculating income tax, the amounts of penalties paid by the organization in connection with the late payment of the UST and the above insurance premiums are not included in expenses on the basis of paragraph 2 of Art. 270 NK. Thus, the amounts of penalties do not participate in the formation of indicators of accounting profit and the tax base for corporate income tax.

17.10. Payment of temporary disability benefits

The auditor, checking the calculations for payment of temporary disability benefits, receives confirmation not only of compliance with the law, but also of a certain social security of the workforce. Thus, the complete absence of this type of payment may indicate the unspoken unwillingness of the management of the audited entity to burden itself with additional calculations and the actual violation of the law and social protection.

The calculation of the amount of temporary disability benefits in 2004 was carried out in accordance with paragraph 1 of Art. 8 of the Federal Law of 08.12.2003 No. 166-FZ "On the budget of the Social Insurance Fund of the Russian Federation for 2004" based on average earnings calculated in the manner prescribed by Art. 139 of the Labor Code and the Regulations on the peculiarities of the procedure for calculating the average wage, approved by Decree of the Government of the Russian Federation of April 11.04.2003, 213 No. XNUMX (hereinafter referred to as the Regulations).

Article 8 of Federal Law No. 166-FZ establishes that in 2004 the temporary disability benefit is calculated from the average earnings of an employee at the main place of work for the last 12 calendar months preceding the month of the onset of disability.

In accordance with paragraph 2 of the Regulations, for calculating average earnings, all types of payments provided for by the remuneration system used in the organization are taken into account, regardless of the sources of these payments.

According to paragraph 8 of the Regulations, in all cases, except for the application of the summarized accounting of working hours, the average daily earnings are used to determine the average earnings. The average daily wage is calculated by dividing the amount of wages actually accrued for the billing period by the number of days actually worked during this period.

The average earnings of an employee is determined by multiplying the average daily earnings by the number of days (working, calendar) in the period payable (clause 8 of the Regulation).

According to the letter of the Social Insurance Fund of the Russian Federation dated April 28.04.2004, 02 No. 18-06 / 2706-XNUMX "On payment of temporary disability benefits", if there is a causal relationship between temporary disability and an accident at work or an occupational disease, payment of temporary disability benefits should be carried out for account of insurance premiums for compulsory social insurance against accidents at work and occupational diseases.

In accordance with Art. 183 of the Labor Code in case of temporary disability, the employer pays the employee temporary disability benefits in accordance with federal law.

The procedure and conditions for providing temporary disability benefits are established by the Basic Conditions for Providing State Social Insurance Benefits, approved by the Decree of the Council of Ministers of the USSR and the All-Union Central Council of Trade Unions of February 23.02.1984, 191 No. 12.11.1984 (hereinafter referred to as the Basic Conditions), as well as the Regulations on the Procedure for Providing State Social Insurance Benefits, approved Decree of the Presidium of the All-Union Central Council of Trade Unions dated November 13, 6 No. XNUMX-XNUMX.

The basis for the appointment of temporary disability benefits is a sick leave issued in the prescribed manner (sick leave certificate) (clause 8 of the Basic Conditions).

The allowance for temporary disability due to an occupational disease is issued in the amount of 100% of earnings (clause 24 of the Basic Conditions; clause 29 of the Regulations on the Procedure for Providing Benefits).

The payment of temporary disability benefits to an employee is not recognized as an object of taxation under the UST (subparagraph 1, paragraph 1, article 238 of the Tax Code) and, therefore, an object of taxation of insurance premiums for compulsory pension insurance (paragraph 2, article 10 of the Federal Law "On Compulsory Pension Insurance" In Russian federation").

The temporary disability benefit paid in accordance with the legislation of the Russian Federation at the expense of the Social Insurance Fund of the Russian Federation is not subject to insurance premiums for compulsory insurance against accidents at work and occupational diseases. At the same time, the amount paid to an employee for a period of temporary disability is included in income subject to personal income tax (hereinafter referred to as personal income tax), in accordance with subpara. 7 p. 1 art. 208 and paragraph 1 of Art. 217 NK. Personal income tax is withheld upon actual payment of benefits to the employee (clause 4 of article 226 of the Tax Code) and is reflected in the debit entry of account 70 in correspondence with the credit of account 68 "Calculations on taxes and fees".

17.11. Dismissal of employees

The auditor should pay attention to the legality of the dismissal of employees of the enterprise and the timeliness of making settlements with them. Upon termination of the employment contract, payment of all amounts due to the employee from the employer is made on the day the employee is dismissed (Article 140 of the Labor Code).

The dismissed employee must be familiar with the dismissal order. At the same time, with his own handwritten receipt, he confirms not only the fact of his dismissal, but also the date of termination of the employment relationship. The date of familiarization of the employee must be no later than the last day of termination of employment duties, except in cases of dismissal of one's own free will (in this case, the employee's consent is confirmed by his personal statement).

Severance pay paid in connection with the dismissal of an employee and the amount of average monthly earnings for the period of employment are not subject to personal income tax on the basis of paragraph 3 of Art. 217 of the Tax Code, as well as UST on the basis of sub. 2 p. 1 art. 238 NK.

In order to calculate income tax, accruals to employees released due to a reduction in the number or staff of employees of an organization are taken into account as part of labor costs (clause 9, article 255 of the Tax Code).

According to Art. 127 of the Labor Code upon dismissal, the employee is paid monetary compensation for all unused vacations. In this case, the amount of vacation pay is calculated based on the number of vacation days due to the employee and the average daily earnings calculated in accordance with Art. 139 of the Labor Code and the Regulation on the peculiarities of the procedure for calculating the average wage, approved by Decree of the Government of the Russian Federation dated April 11.04.2003, 213 No. 1. Three calendar months (from the 1st to the 3st day) are considered the settlement period for vacation pay (clause XNUMX of the Regulation).

The auditor should evaluate instances of mass layoffs of workers or employees of the audited entity, as this may have a direct impact on the inability of the entity to continue to operate in the foreseeable future, especially if the layoffs occurred without proper replacement.

17.12. Audit of other issues on accruals and payments to the personnel of the organization

The remuneration of labor of workers engaged in heavy work, work with harmful, dangerous and other special working conditions is made at an increased rate (Article 146 of the Labor Code). Wages, taking into account additional payments for work in hazardous working conditions, are taken into account when determining the tax base for personal income tax (clause 1, article 210 of the Tax Code).

The right to a one-time allowance at the birth of a child has one of the parents or a person replacing him. In the event of the birth of two or more children, the specified allowance is paid for each child. A one-time allowance for the birth of a child is paid in the amount of 4500 rubles. (Articles 11, 12 of the Federal Law of May 19.05.1995, 81 No. 21-FZ "On State Benefits for Citizens with Children") at the place of work (clause 04.09.1995 of the Regulations on the procedure for assigning and paying state benefits to citizens with children, approved by a decree of the Government of the Russian Federation dated 883 No. 10). A one-time allowance for the birth of a child is paid no later than 22 days from the date of submission of all the necessary documents provided for in paragraph 23 of the Regulations (paragraph XNUMX of the Regulations).

At the request of a woman, she is granted leave to care for a child until the child reaches the age of three, while for the period of this leave she retains her place of work (position) (Article 256 of the Labor Code).

According to Art. 255 of the Labor Code, women, at their request and in accordance with a medical report, are granted maternity leave of 70 (in case of multiple pregnancy - 84) calendar days before delivery and 70 (in case of complicated birth - 86, in case of birth of two or more children - 110 ) calendar days after childbirth with the payment of state social insurance benefits in the amount established by law.

In accordance with paragraph 1 of Art. 8 of the Federal Law of 08.12.2003 No. 166-FZ "On the budget of the Social Insurance Fund of the Russian Federation for 2004" in 2004, the maternity benefit was calculated from the average earnings of an employee at the main place of work for the last 12 calendar months preceding the month of the onset maternity leave. The calculation of average earnings is carried out in accordance with Art. 139 of the Labor Code in the manner prescribed by the Regulations on the peculiarities of the procedure for calculating the average wage, approved by Decree of the Government of the Russian Federation of 11.04.2003 No. 213.

According to sub. 2 p. 1 art. 10 of Federal Law No. 166-FZ, at the expense of compulsory social insurance, payment for the cost of vouchers for children of insured citizens to out-of-town stationary children's health camps for no more than 24 days of stay during the school holidays is made in the manner and on conditions determined by the Government of the Russian Federation.

In accordance with sub. "a" paragraph 8 of the order of the Government of the Russian Federation of 05.03.2004 No. 320-r vouchers to out-of-town stationary children's health camps with a stay of at least 21-24 days during the summer school holidays are paid at the expense of the Social Insurance Fund of the Russian Federation in the amount of up to 50 % of the average cost of a voucher, established by the executive authorities of the subjects of the Russian Federation, based on the actual prices for vouchers to such camps located on the territory of this subject.

The auditor should pay attention to the fact that the organization has the right to make expenses at the expense of compulsory social insurance funds for the rehabilitation of children within the limits of the appropriations approved by it by the branch (branch of the branch) of the Fund for the calendar year, in the manner determined by the federal law on the budget of the Fund for the next financial year (Clause 2.3 of the Instructions on the procedure for accounting and spending compulsory social insurance funds, approved by Resolution of the Social Insurance Fund of the Russian Federation No. 09.03.2004 dated March 22, XNUMX).

Topic 18. AUDIT OF SETTLEMENTS WITH ACCOUNTS

18.1. Goals and objectives of the audit of settlements with accountable persons

The purpose of the audit of settlements by accountable persons is to establish the correctness and reliability of these transactions and determine the impact on financial (accounting) statements.

Due to the fact that the audit of settlements with accountable persons is associated with checking the procedure for conducting cash transactions, it is more convenient to carry them out in parallel.

Control of settlements with accountable persons by an accountant is carried out on the basis of orders on the accounting policy of the organization, on the appointment of persons authorized to receive cash under the report, on the direction of employees of the organization on business trips, as well as the register of advance reports.

When conducting an audit, it is necessary to compare the balance of account 71 "Settlements with accountable persons" at the end of each month with the data indicated in the General Ledger. At the same time, it is necessary to check the correspondence of the monthly turnovers on the credit of account 71 "Settlements with accountable persons" with the debit turnovers on the accounts of inventory, costs, property and profit.

After these procedures, the compliance of the amounts in the submitted supporting documents with the amounts reflected in the advance reports is checked. During the audit, all advance reports and documents confirming the expenses incurred (invoices, commodity, cash receipts, waybills, purchase certificates, travel certificates, travel tickets, hotel bills, etc.) are considered.

Then, the analytical accounting data for each reporting entity is compared with the submitted advance reports for a specific period.

Carrying out all of the above actions will help the auditor to verify the correctness of each advance report and the correct distribution of the amounts on advance reports between the relevant sources of financing (product cost or profit of the organization).

One of the directions for obtaining audit evidence is an inventory of settlements with accountable persons in order to ascertain the compliance of the issuance of cash under the report with the requirements of clause 11 of the Regulation on the procedure for conducting cash transactions, approved by the decision of the Board of Directors of the Central Bank of the Russian Federation on September 22.09.1993, 40 No. XNUMX.

When inventorying accountable amounts, the reports of accountable persons on issued advances are checked, taking into account their intended use, as well as the amount of advances issued for each accountable person (date of issue, intended purpose).

An inventory of settlements with accountable persons should be conducted more frequently than an inventory of settlements with other debtors and creditors. This is explained by the fact that persons who received cash under the report are obliged, no later than three working days after the expiration of the period for which the funds were issued (or from the day they return from a business trip), to submit a report on the amounts spent to the accounting department of the organization.

Transfer of cash issued on account by one person to another is prohibited.

18.2. Accounting audit of settlements with accountable persons

Account 71 "Settlements with accountable persons" is intended to summarize information on settlements with employees in terms of amounts issued to them under the report for administrative, business and operating expenses.

According to paragraph 11 of the Procedure for conducting cash transactions in the Russian Federation, approved by the decision of the Board of Directors of the Central Bank of the Russian Federation on September 22.09.1993, 40 No. XNUMX, enterprises can issue cash to their employees against a report on business and operating expenses in amounts and for periods determined by the heads of enterprises. Persons who have received cash against a report are obliged, no later than three working days after the expiration of the period for which they are issued, to submit a report on the amounts spent to the accounting department of the enterprise and make a final settlement on them.

Account 31.10.2000 "Settlements with accountable persons" ". Account 94 is debited for the amounts issued under the report in correspondence with the cash accounts. For the amounts spent by accountable persons, account 71 is credited in correspondence with accounts that take into account costs and acquired values.

To account for funds issued to accountable persons, a unified form "Advance report" (form No. AO-1) is used, approved by the Decree of the State Statistics Committee of Russia dated August 01.08.2001, 55 No. XNUMX. The verified advance report is approved by the head or an authorized person and is accepted for accounting. Overspending on the advance report is issued to the accountable person on the account cash warrant.

18.3. Payment for business trips

The procedure and amount of reimbursement of expenses associated with business trips are determined by a collective agreement or a local regulatory act of the organization. At the same time, the amount of compensation cannot be lower than the amount established by the Government of the Russian Federation for organizations financed from the federal budget. Currently, the daily allowance established for these organizations is 100 rubles. for each day of being on a business trip (approved by order of the Ministry of Finance of the Russian Federation dated July 06.07.2001, 49 No. XNUMXn).

The issuance of cash against the report on expenses associated with business trips is made within the limits of the amounts due to business travelers for these purposes. Persons who have received cash against a report are required, no later than three working days from the date of return from a business trip, to present to the accounting department of the organization a report on the amounts spent and make a final settlement on them (clause 11 of the Procedure for conducting cash transactions in the Russian Federation). In accordance with clause 11 of the Procedure for Conducting Cash Transactions, the issuance of cash against the report on expenses associated with business trips is made within the amounts due to business travelers for these purposes. Persons who received cash in rubles against a report are obliged, no later than three working days from the date of return from a business trip, to submit a report on the amounts spent to the accounting department of the organization and make a final settlement on them.

According to Art. 168 of the Labor Code, in case of sending on a business trip, the employer is obliged to reimburse the employee:

▪ travel expenses;

▪ expenses for renting residential premises;

▪ additional expenses associated with living outside the place of permanent residence (per diem);

▪ other expenses incurred by the employee with the permission or knowledge of the employer.

The procedure and amount of reimbursement of expenses associated with business trips are determined by a collective agreement or a local regulatory act of the organization.

In accordance with the Rules for the provision of hotel services in the Russian Federation, approved by the Decree of the Government of the Russian Federation of April 25.04.1997, 490 No. XNUMX, hotels provide both basic and additional services.

In accordance with paragraph 7 of Art. 171 of the Tax Code, VAT amounts paid on business trip expenses (expenses for travel to the place of a business trip and back, including expenses for the use of bedding on trains, as well as expenses for renting housing) are subject to deductions, which are deductible when calculating corporate income tax .

When determining the list of services that can be included in travel expenses when calculating deductible VAT, organizations should be guided by the Tax Code. In doing so, it must be taken into account that in 12 p. 1 art. 264 of the Tax Code lists expenses related to travel expenses for the purpose of calculating corporate income tax.

For accounting purposes, the expenses of the organization for the payment of daily allowances to the employee are expenses for ordinary activities and are included in commercial expenses (clauses 5, 7 of PBU 10/99 "Expenses of the organization", approved by order of the Ministry of Finance of the Russian Federation dated 06.05.1999 No. 33n).

Based on clause 18 of PBU 10/99, expenses for ordinary activities are recognized in the reporting period in which they occurred, regardless of the time of actual payment of funds and other form of implementation (assuming the temporary certainty of the facts of economic activity), provided that the conditions listed in clause 16 PBU 10/99. Travel expenses are recognized in accounting after the approval of the employee's advance report (in this case in February) and are reflected as expenses.

For the purpose of calculating income tax, travel expenses, in particular daily expenses within the limits approved by the Government of the Russian Federation, are included in other expenses related to production and sales (subclause 12, clause 1, article 264 of the Tax Code), and are considered indirect expenses that form tax base for income tax of the current month (Article 318 of the Tax Code).

Daily allowances paid within the limits established in accordance with the current legislation are not subject to personal income tax on the basis of clause 3 of Art. 217 NK. Consequently, daily allowances paid to an employee in excess of the established norm are included in the personal income tax base. Taxation is carried out at a tax rate of 13% (Article 224 of the Tax Code). According to paragraph 4 of Art. 226 of the Tax Code, the organization is obliged to withhold the calculated amount of personal income tax directly from the employee's income when they are actually paid.

In accordance with sub. 2 p. 1 art. 238 of the Tax Code, daily allowances within the limits established in accordance with the legislation of the Russian Federation are not subject to UST. Daily allowances in excess of the norms, which, as mentioned above, do not reduce taxable income, are also not subject to UST on the basis of paragraph 3 of Art. 236 NK.

The amount of daily allowance paid to the employee is also not subject to insurance premiums for mandatory pension insurance due to the fact that, in accordance with paragraph 2 of Art. 10 of the Federal Law "On Compulsory Pension Insurance in the Russian Federation", the object of taxation of insurance premiums is the object of taxation for the UST, established by Ch. 24 "Unified social tax" of the Tax Code.

The audit of this direction of spending the organization's funds is related to the issues of the legality of issuing funds to account in foreign currency and the validity of these costs.

An employee’s trip abroad by order of the head to establish business cooperation, resolve current issues and tasks with business partners is a business trip (Article 166 of the Labor Code), the procedure and amount of reimbursement of these expenses are determined by agreement of the parties to the employment contract, and can also be established in collective agreement or other local act of the organization. Travel and accommodation expenses incurred are reimbursed to the employee in the amount of actual expenses based on supporting documents. In the absence of such documents, the costs of renting premises are reimbursed according to the norms established by order of the Ministry of Finance of Russia No. 64n.

Per diems for an employee sent on a business trip abroad are paid in accordance with the standards approved by the organization, while the organization has the right to establish any amount of their compensation (unless the organization is a budgetary one).

Since 2006, if intergovernmental agreements have been concluded with the CIS member states, according to which border checkpoints do not mark border crossings in entry and exit documents, the crossing dates are determined by the marks in the travel certificate.

An accountant, when calculating daily allowances, should not forget about the current letter of the Ministry of Labor of Russia and the Ministry of Finance of Russia dated May 17.05.1996, 1037 No. 26.12.2005-IH "On the procedure for paying daily allowances to employees sent on short-term business trips abroad", all the norms of which are reflected in the Decree of the Government of the Russian Federation dated December 812, XNUMX. XNUMX No. XNUMX "On the amount and procedure for the payment of daily allowances in foreign currency and allowances for daily allowances in foreign currency during business trips in the territory of foreign states of employees of organizations financed from the federal budget." In particular, when traveling from the territory of the Russian Federation, the day of crossing the border is included in the days that are paid in foreign currency. When traveling back, the day of crossing the state border is paid according to the rate established for paying for business trips in the Russian Federation.

Until August 2005, banks refused to issue foreign currency for travel expenses, referring to the requirements of the Federal Law of December 10.12.2003, 173 No. XNUMX-FZ "On Foreign Exchange Regulation and Foreign Exchange Control", which prohibited foreign exchange transactions between residents, with the exception of a closed list of transactions, in which the purchase of currency for travel expenses was not included. Therefore, organizations either issued rubles to their employees to buy currency in "exchangers", or used corporate bank cards.

Since August 2005, the number of permitted foreign exchange transactions includes payment and reimbursement of expenses of an employee when he is sent on a business trip abroad. If the advance paid to the employee was not enough and his own funds were spent, then the organization can also apply for the purchase of foreign currency to compensate for the overspending of the accountable person.

When sending an employee abroad, the accountant is not in all cases obliged to issue a travel certificate, so, since 2006, the order of the head, which indicates the destination and purpose of the trip, and travel documents are sufficient documents confirming the travel expenses of the accountable person for taxation.

Having issued an advance payment in foreign currency to an employee, the organization must reassess monetary obligations denominated in foreign currency. In this case, the expenses of the accountable person, made in foreign currency, are recalculated into rubles at the rate of the Central Bank of the Russian Federation, established on the date of approval of the advance report (PBU 3/2000).

Exchange differences arising in accounting as a result of conversion into rubles are credited in accordance with paragraph 13 of PBU 3/2000 to the financial results of the organization as non-operating income or non-operating expenses.

All audit evidence obtained should be documented. Identified errors affect the auditor's opinion expressed in the conclusion. At the same time, errors in this section of accounting can be difficult to recommend for correction, especially in terms of primary documentation; it seems more realistic to make corrections to the content and form of business transactions.

Topic 19. AUDIT OF AUTHORIZED CAPITAL AND SETTLEMENTS WITH FOUNDERS

19.1. Goals and objectives of the audit of the authorized capital

The purpose of the audit of the authorized capital is to form an opinion on the reliability of these indicators of financial statements, reflecting the state of the authorized capital, and the compliance of the methodology for its accounting with regulations.

It is advisable to start the work with checking the legal status and the right to carry out statutory activities, the composition of the founders (participants), the structure and management of the organization, as well as financial capabilities to achieve the goals of the activity.

To check for compliance with regulatory acts, a package of regulatory documents regulating the established rules for accounting for authorized capital should be formed. Such a package is completed taking into account the specifics of the client's activities.

When reviewing the constituent documents, the auditor finds out:

1) what types of activities are provided for by the constituent documents;

2) whether the types of activities carried out comply with the constituent documents;

3) types of activities subject to licensing in accordance with Federal Law No. 08.08.2001-FZ of 128 "On Licensing Certain Types of Activities".

For the types of activities subject to licensing, the availability of licenses and their validity periods are checked, since the right of the organization to carry out such types of activities arises from the moment the license is received or within the period specified in it and terminates upon its expiration. Activities carried out without proper licenses are considered illegal.

Familiarization with the constituent documents allows the auditor to determine who the owner is and to clarify in the interests of which users the audit is being carried out.

The auditor establishes the availability of relevant documents and compliance with the approval and state registration procedures. Since a legal entity is considered to be created not from the moment the founders decide to create it, but from the moment of its state registration, the existence of a certificate of state registration and re-registration should be checked if changes were made to the constituent documents.

When familiarizing yourself with the memorandum of association, it becomes clear what conditions were determined:

▪ transfer of property;

▪ participation in activities;

▪ distribution of profits and losses between participants;

▪ management of the activities of a legal entity;

▪ withdrawal of founders (participants) from its composition.

19.2. Authorized (share) capital audit program

Verification of constituent documents, accounting and reporting data on the formation of the authorized capital can be carried out according to the following program:

▪ checking the availability and form of constituent documents;

▪ compliance of the content of constituent documents with the requirements of legislative and regulatory acts;

▪ completeness and compliance with the terms of payment of the authorized capital;

▪ verification of the monetary value of the property contributed by the founders in payment for shares when establishing a joint-stock company;

▪ checking the taxation of funds transferred to the authorized capital of the organization by its founders;

▪ checking the legality of activities;

▪ compliance of the size of the authorized capital with the data of the constituent documents and the legislation of the Russian Federation;

▪ completeness and correctness of the formation of the authorized capital;

▪ compliance with legally established deadlines for final settlements for payment of the authorized capital;

▪ assessment of the correctness of accounting for the formation of the authorized capital;

▪ establishing the reality of contributing amounts to the authorized capital;

▪ validity of changes in the amount of authorized capital.

19.3. Influence of the organizational and legal form on the responsibility of the founders

When checking the constituent documents, it should be taken into account that the Civil Code establishes different forms of responsibility of the founders for each organizational and legal form.

Participants in a full partnership jointly and severally bear subsidiary liability with their property for the obligations of the partnership (Article 75 of the Civil Code).

General partners of a limited partnership are liable for the obligations of the partnership with their property, and investors bear the risk of losses within the limits of the amounts they have contributed (Article 82 of the Civil Code).

Participants in an LLC are not liable for its obligations and bear the risk of losses associated with the activities of the company, within the value of their contributions (Article 87 of the Civil Code).

Members of a joint-stock company (shareholders) are not liable for its obligations and bear the risk of losses within the value of their shares (Article 96 of the Civil Code). The founders of a JSC are jointly and severally liable for obligations that arose before the registration of the company (Article 98 of the Civil Code).

19.4. The main legislative aspects of regulating the formation of the authorized (share) capital

The date of formation of the authorized capital of the organization and the formation of indebtedness of its owners on contributions to it is the date of acquisition of the status of a legal entity (Appendix to PBU 3/2000 "Accounting for assets and liabilities whose value is expressed in foreign currency", approved by order of the Ministry of Finance of the Russian Federation dated 10.01.2000 No. 2n). At the same time, a legal entity is considered created from the moment of its state registration (clause 2, article 51 of the Civil Code).

According to the Chart of Accounts for accounting of the financial and economic activities of organizations and the Instructions for its application after the state registration of the organization, the debt of the founders on contributions to the authorized capital is reflected in the accounting records.

The funds received from the founders as a contribution to the authorized capital are not taken into account as income when calculating income tax in accordance with subpara. 3 p. 1 art. 251 NK. At the same time, the difference between the nominal value of the placed shares and the value of the received property (including cash) is not recognized as profit (loss) for the purposes of calculating income tax (subclause 1 clause 1 article 277 of the Tax Code).

When forming the authorized capital of an organization, valued in the constituent documents in foreign currency, exchange differences arise, which are subject to attribution to its additional capital (clause 14 PBU 3/2000). Under the exchange rate difference associated with the formation of the authorized (reserve) capital of the organization, the difference between the ruble assessment of the debt of the founder (participant) on the contribution to the authorized (reserve) capital of the organization, valued in the constituent documents in foreign currency, calculated at the rate of the Central Bank of the Russian Federation at the date of receipt of the amount of deposits, and the ruble assessment of this contribution in the constituent documents (clause 14 PBU 3/2000).

An increase in the authorized capital is reflected in accounting by an entry on the credit of account 80 "Authorized capital" and the debit of account 75, subaccount 75-1, only after the state registration of changes in the constituent documents.

The balance on account 80 "Authorized capital" must correspond to the amount of the authorized capital, fixed in the constituent documents of the organization. Entries on account 80 "Authorized capital" are made during the formation of the authorized capital, as well as in cases of increase and decrease in capital only after making appropriate changes to the constituent documents.

In accordance with Federal Auditing Standard No. 9 "Affiliates", the auditor must examine the lists of shareholders in order to identify major shareholders or, if necessary, obtain a list of major shareholders from the register of shareholders; study the minutes of meetings of shareholders and meetings of the board of directors, as well as other documents provided for by law, including the register of shareholders to determine the degree of their influence on the financial and economic activities of the audited entity.

19.5. Issue of shares

In accordance with Federal Auditing Standard No. 10 "Events after the reporting date", in the event of an issue of securities accompanied by registration of a securities prospectus, including in the event of a public offering of equity securities, the auditor must take into account the relevant requirements of the legislation of the Russian Federation and the requirements related to with them. For example, the auditor may be required to perform additional audit procedures covering the period up to the date of state registration of an issue of emissive securities. This includes the implementation of the procedures provided for in paragraphs 4 and 5 of the Federal Auditing Standards and covering the period up to the date of state registration of the issue of issue-grade securities or possibly close to this date, as well as examining the securities prospectus for compliance with the information contained therein with the accounting information to which the auditor is involved.

Federal Law No. 27.12.2005-FZ of December 194, 16.03.2005 “On Amendments to the Federal Law “On the Securities Market”, the Federal Law “On Joint-Stock Companies” and the Federal Law “On the Protection of the Rights and Legitimate Interests of Investors in the Securities Market” introduced a notification the procedure for reporting on the results of the issue (additional issue) of issue-grade securities when placing securities by a broker through open subscription and listing them by the stock exchange. The amendments secure the right of the issuer to submit to the registration authority, instead of a report on the results of the issue (additional issue) of securities, a notice of the results of the issue (additional issue) of securities. A separate subsection of the Securities Issue Standards (approved by Order of the Federal Service for Financial Markets dated March 05, 4 No. XNUMX-XNUMX/pz-n) is now devoted to the specifics of submitting such a notification. The requirements for decisions on the placement of shares, bonds convertible into shares, and options are being clarified. It has been established, in particular, that if the placement of securities through open subscription is carried out with the possibility of their acquisition outside the Russian Federation, the decision on the issue (additional issue) of securities must contain an indication of this possibility. The new edition sets out the provisions on the peculiarities of issuing bonds of international financial organizations.

The form of notification of the results of an issue (additional issue) of securities has been approved.

After changes are made to the charter of the JSC, the increase in the authorized capital is reflected in the accounting records by an entry on the credit of account 80 "Authorized capital" and the debit of account 75 "Settlements with the founders", sub-account 75-1 "Settlements on contributions to the authorized (reserve) capital".

19.6. Audit of settlements with founders. Dividend payment

Based on paragraph 1 of Art. 42 of the Federal Law of December 26.12.1995, 208 No. 3-FZ "On Joint-Stock Companies", a company has the right to make a decision (declare) once a year to pay dividends on outstanding shares, unless otherwise provided by the specified Federal Law. Dividends are paid in cash, and in cases provided for by the charter of the company, in other property. The decision on the payment of annual dividends, the amount of the annual dividend and the form of its payment on shares of each category (type) is made by the general meeting of shareholders (clause 42, article 60 of the Law). The term for the payment of annual dividends is determined by the charter of the company or the decision of the general meeting of shareholders on the payment of annual dividends. If the charter of the company or the decision of the general meeting of shareholders does not determine the date of payment of annual dividends, the period for their payment should not exceed XNUMX days from the date of the decision to pay annual dividends. The list of persons entitled to receive annual dividends is compiled as of the date of compiling the list of persons entitled to participate in the annual general meeting of shareholders.

In accordance with the Chart of Accounts for accounting of the financial and economic activities of organizations and the Instructions for its application, approved by order of the Ministry of Finance of the Russian Federation dated October 31.10.2000, 94 No. 75n, debt to shareholders for the payment of dividends is reflected in the credit of accounts: 75 "Settlements with founders", subaccount 2 -70 "Calculations for the payment of income" - on dividends accrued to shareholders - legal entities and shareholders - individuals who are not employees of the OJSC; XNUMX "Settlements with personnel for wages" - for dividends accrued to shareholders - employees of the organization.

Dividends received on shares of a foreign organization, for accounting purposes, are operating income for the organization as income related to participation in the authorized capital of other organizations (clause 7 PBU 9/99 "Income of the organization", approved by order of the Ministry of Finance of the Russian Federation of 06.05.1999 No. 32n).

In accordance with the Chart of Accounts for the financial and economic activities of organizations and the Instructions for its application, settlements on dividends due to the organization are recorded on account 76 "Settlements with various debtors and creditors", subaccount 76-3 "Settlements on due dividends and other income".

The income to be received (distributed) is reflected in the debit of account 76, subaccount 76-3, and the credit of account 91 "Other income and expenses", subaccount 91-1 "Other income".

In accordance with paragraph 4 of PBU 3/2000 "Accounting for assets and liabilities whose value is expressed in foreign currency", approved by order of the Ministry of Finance of the Russian Federation No. 10.01.2000n dated 2, the value of funds in settlements with legal entities and individuals, expressed in foreign currency , for reflection in accounting and financial statements is subject to conversion into rubles. The specified conversion into rubles is made at the rate of the Central Bank of the Russian Federation, effective on the date of the transaction in foreign currency (clause 6 of PBU 3/2000), which in this case is the date of recognition of income in the form of dividends (Appendix to PBU 3/2000). When dividends are received, accounting reflects the exchange rate difference on this operation, which arises as a result of the fact that the exchange rate of the Central Bank of the Russian Federation on the date of payment of dividends differs from the exchange rate on the date of acceptance for accounting of receivables for the payment of dividends. The specified exchange difference is credited to the financial result of the organization as it is accepted for accounting (clauses 11-13 of PBU 3/2000).

For the purposes of taxation of profits, income from equity participation in other organizations is recognized as non-operating income of the taxpayer (clause 1, article 250 of the Tax Code).

Completing the audit, the auditor determines how significant the identified deviations in the accounting of the authorized capital are in comparison with the requirements of regulatory enactments. If the auditor believes that the identified deviations do not have a significant impact on the reporting indicators in terms of the authorized capital, then he expresses an opinion on the reliability of these indicators; if the deviations are significant, they should be reflected in the form of a modified auditor's report.

TOPIC 20. AUDIT OF INCOME TAX CALCULATIONS

20.1. Goals and objectives of the audit

The auditor is recommended to use the Guidelines for checking income tax and liabilities to the budget when conducting an audit and providing related services (approved by the Audit Council under the Ministry of Finance of the Russian Federation, Minutes No. 22.04.2004 dated April 25, XNUMX).

The relevance of the methodology for checking income tax during an audit is due to the fact that taxes are part of the relationship of an economic entity with state and regulatory authorities, and violations in this area can lead to significant consequences for an economic entity.

The objectives of the audit of financial statements in the field of income tax are determined by such qualitative aspects of reporting.

Existence - income tax expense and tax liability to the budget, reflected in the financial statements, actually exist and relate to the audited reporting period.

Completeness - income tax expense and tax liability to the budget are reflected in the financial statements in full.

Valuation (measurement) - income tax expense and tax liability to the budget indicated in the financial statements are correctly calculated and truthfully reflect the result of the organization's activities.

Classification - the organization's tax liability is correctly divided into current and deferred.

Presentation and disclosure - the liability to pay and return taxes, as well as the income tax expense, are correctly classified and disclosed in the financial statements with a sufficient level of detail. The criteria used by the auditor in evaluating evidence when conducting an audit of income tax and liabilities to the budget:

1) requirements of legislative and regulatory acts of the Russian Federation on accounting;

2) the tax legislation of the Russian Federation on income tax;

3) international financial reporting standards.

20.2. Recommendations on the organization and methodology for checking income tax expenses and liabilities to the budget at various stages of the audit

There are the following stages of the audit.

Audit planning:

▪ assessment of audit risk and acceptable error (materiality level);

▪ analysis of accounting policies;

▪ drawing up a substantive audit program, choosing audit procedures.

Conducting an audit:

▪ carrying out substantive audit procedures;

▪ detailed testing;

▪ analytical procedures;

▪ collection of audit evidence;

▪ preparation of working documents.

Completion of the audit:

▪ generalization and evaluation of audit results;

▪ documentation of audit results.

20.3. Risk assessment

When conducting an audit of income tax and settlements with the budget, the auditor should strive to minimize audit risk. A reliable assessment of audit risk is achieved by a combined risk assessment (inherent risk, control risk, and detection risk) during the audit planning stage as a whole.

In the event that inherent and control risks are high, an income tax audit should be organized in such a way as to reduce the amount of detection risk as much as possible and thereby reduce the overall audit risk to an acceptable value. To do this, it is necessary to obtain more audit evidence during substantive procedures.

At low levels of inherent and control risk, the auditor is free to accept a higher level of detection risk and thereby reduce the overall audit risk to an acceptable level.

The assessment of the inherent risk in relation to account balances and groups of transactions associated with the calculation of income tax is influenced by such factors as the complexity of the financial and economic transactions of the audited entity, the presence of transactions for which there is no unambiguous interpretation in accounting and tax legislation, the presence of industry-specific features in accounting, etc.

20.4. Determination of the allowable error (significance level)

The level of materiality is established by the auditor based on his professional judgment. An auditor working in an audit firm should apply in his practice an intra-company standard that regulates the procedure for determining the level of materiality.

When planning an audit on income tax and liabilities to the budget, the level of materiality is determined in relation to the following elements:

1) balances on accounts 68 "Debt to the budget for income tax", 09 "Deferred tax assets", 77 "Deferred tax liabilities";

2) groups of transactions that form the tax base for income tax (objects of taxation).

When determining the level of materiality, not only the quantitative, but also the qualitative aspect of misstatements should be taken into account.

The qualitative aspect of distortion includes:

1) non-compliance with accounting policies;

2) insufficient or inadequate description of accounting policies and disclosure of income tax information in the financial statements.

When determining the quantitative aspect of misstatements, the auditor needs to consider the possibility of misstatements in relation to relatively small amounts, which together can have a significant impact on the formation of the tax base for income tax and financial statements.

To calculate the materiality level, the auditor selects the basic indicators of financial statements based on his professional judgment.

Then the percentages of these indicators are set to determine their calculated and average values. The amount of interest can be the same for all indicators or individual for each indicator and is determined by the professional judgment of the auditor.

After carrying out the calculations and excluding the indicators with the largest and smallest deviations from the average, the overall level of materiality is determined, which will be further distributed among the verification elements.

The procedure for assessing the level of materiality must be documented by the auditor.

The indicators chosen by the auditor may be different depending on the types of activities carried out and the presence of non-operating transactions with the audited entity.

The sources of information on the amounts of accrued income and expenses incurred are tax declarations and consolidated tax accounting registers of the audited economic entity.

In the event that the errors noted during the audit and the expected errors are greater or less, but in general are close in magnitude to the value of the materiality level and (or) there are discrepancies in the tax accounting and reporting of the audited entity with the requirements of the relevant regulatory documents, however, the discrepancies clearly cannot be recognized as material, the auditor, using his professional judgment, assumes responsibility and decides whether or not to conclude material errors and violations in this situation or to conclude that appropriate disclaimers are included.

20.5. Accounting policy analysis

For an effective approach to conducting an audit in the field of income tax and obligations to the budget, the auditor must get an idea of ​​​​the accounting policy of the audited entity and assess the impact on profit of existing discrepancies in the methodology of accounting and tax accounting.

Accounting policy analysis is carried out in order to:

1) establishing discrepancies in determining the base for calculating profit for accounting and for tax purposes due to the difference in the assessment and recognition of assets, liabilities, income and expenses;

2) identification of permanent and temporary differences in the calculation of profit;

3) identification of key risk elements;

4) expressing an opinion on the applied accounting policy of the audited entity for tax purposes.

At the stage of conducting a substantive audit, it is necessary to implement procedures to collect sufficient and appropriate audit evidence to express an opinion, document audit evidence.

The auditor independently determines the scope of documentation for each specific work and area of ​​the audit, guided by his professional opinion. However, the scope of the documentation should be such that, if it becomes necessary to transfer the work to another auditor who does not have experience in this assignment, the new auditor could understand the work done and the validity of the decisions and conclusions of the former auditor solely on the basis of these working documents.

The form and content of the working papers of the audit is essentially determined by the nature of the audit engagement, the requirements for the audit report, the nature and complexity of the activities of the audited entity, the state of the accounting and internal control systems of the audited entity, the need to give tasks to auditors and control the quality of audit services, methods of collecting audit evidence .

The auditor's working papers containing information on the audit of a particular period refer to the current audit files.

20.6. Summarizing and evaluating the results of the check

At the final stage of the audit, an analysis of the implementation of the audit program is carried out, the identified errors and violations are classified, the results of the audit are summarized and formalized, and the types of income tax clauses for the audit report on financial (accounting) statements are formulated.

Analytical procedures at the audit completion stage should be documented by the auditor.

The final working papers of the auditor reflect:

1) the reasons for violations of the norms of tax legislation on income tax;

2) the tax consequences of these violations for the audited entity;

3) practical recommendations for eliminating the negative consequences of the identified violations.

20.7. Classification of Income Tax Violations

By the nature of the actions, errors may be made as a result of inadvertent actions or bad faith.

By the nature of the occurrence, there are errors in determining the base for income tax and liabilities to the budget, associated with the unreasonableness of accounting records, periodization, assessment, classification, recognition and presentation.

According to the consequences - errors that directly or indirectly affect the correctness of the calculation of income tax.

By significance - errors in the calculation of income tax, which have a subsequent impact on the results of operations and the financial position of the audited entity.

20.8. Documenting the results of the audit

The results of the audit on the section of income tax and liabilities to the budget are reflected in the "Written information (report) on the audit of financial statements" or in a separate document (during a tax audit).

The written information (report) of the auditor to the management and (or) owners must contain information about the following identified during the audit:

1) violations of the accounting policy for taxation purposes;

2) deficiencies in the system of tax accounting and internal control that have led or may lead to violations in the calculation of income tax and the fulfillment of obligations to the budget;

3) quantitative deviations in the formation of the income tax base in accordance with tax legislation;

4) misrepresentations in the presentation and disclosure of information on income tax and liabilities to the budget in the financial statements.

In the written information (report), the auditor should provide references to legislative and regulatory acts, violations of which were revealed during the audit, and give proposals for eliminating these violations.

When conducting an audit on a special assignment (tax audit), the auditor's report expresses an opinion on the degree of completeness and correctness of the calculation, reflection in tax registers and tax returns of data on income tax, as well as the timeliness of settlements with the budget for this tax. In addition, conclusions and proposals on optimizing tax policy, building a tax accounting system, automating the accounting process, etc. can be reflected.

The auditor's report on material misstatements and limitations that affect the auditor's opinion on the fair presentation of the financial statements may include the following disclaimers regarding income tax:

▪ on disagreements regarding tax policy and tax accounting methods;

▪ on disagreements regarding the disclosure of information on income tax and liabilities to the budget in financial statements (classification of tax liabilities into current and long-term, compliance with the principle of prudence in relation to tax assets);

▪ on events that occurred after the reporting date and contingent facts in business activities related to the obligation to the budget for income tax (for court cases and tax audits);

▪ for significant amounts of understatement of income tax expense and obligations to the budget;

▪ restrictions on the scope of the auditor's work.

An example of a modified auditor's report on observations relating to income tax and liabilities to the budget.

In the part containing an opinion with a reservation due to the facts of incorrect reflection of information on income tax

"In our opinion, the financial (accounting) statements incorrectly reflect information on the net profit received for the reporting period, due to the absence of the amount of the deferred tax asset in the statements";

"In our opinion, in the financial (accounting) statements, the obligation to the budget for income tax was incorrectly formed due to a significant distortion of the tax base";

"In our opinion, the financial (accounting) statements incorrectly reflect the deferred tax asset due to the lack of sufficient confidence in the possibility of its repayment in the future."

In the part that attracts attention regarding information on income tax

"Without changing our opinion on the reliability of the financial (accounting) statements, we draw attention to the fact that currently the legal proceedings between the audited entity and the tax authority on the issue of the correct calculation of the tax base for income taxes have not been completed. The amount of the claim is XXX thousand rubles The financial (accounting) statements do not provide for any provisions for the fulfillment of obligations that may arise as a result of a court decision not in favor of the audited entity.

Regarding disclaimer of opinion on income tax information

"Due to the lack of accounting data on deferred tax assets and deferred tax liabilities, we do not express our opinion on the issue of completeness and correctness of disclosure of information on income tax expenses and liabilities to the budget in the financial (accounting) statements."

Literature

1. Alborov R. A., Khoruzhy L. I., Kontseval S. M. Fundamentals of audit: Proc. allowance. Moscow: Business and Service, 2001.

2. Bakanov M. I., Sheremet A. D. Theory of economic analysis: Textbook. 4th ed., add. and reworked. M.: Finance and statistics, 2001.

3. Bychkova S. M., Gazaryan A. V., Kozlova G. I. et al. Fundamentals of audit: Textbook / Ed. prof. Ya. V. Sokolova. M.: Accounting, 2000.

4. Egorova S. K., Denisova K. Ya. Fundamentals of accounting and auditing in the service sector: Proc. allowance / Ed. prof. S. K. Egorova. M.: Jurist, 2000.

5. Kovaleva O. V., Konstantinov Yu. P. Audit: Proc. allowance. M.: Prior, 2000.

6. Labyntsev N. T., Kovaleva O. V. Audit: theory and practice: Proc. by allowance. M.: PRIOR, 2000.

7. Makalskaya M. A., Pirozhkova N. A. Fundamentals of audit: a course of lectures with situational tasks. Moscow: Business and Service, 2000.

8. Podolsky V. I., Polyak G. B., Savin A. A., Soshnikova L. V. Audit: Textbook for universities / Ed. prof. V. I. Podolsky. 2nd ed., revised. and additional M.: UNITI, 2000.

9. Workshop on audit: Proc. allowance / Ed. A. D. Larionova. M.: OOO "TK Velby", 2003.

10. Savitskaya GV Analysis of economic activity of the enterprise. 2nd ed., revised. and additional Minsk: LLC "New Knowledge", 2000.

11. Suits V. P., Akhmetbekov A. N., Dubrovina T. A. Audit: general, banking, insurance: Textbook for universities. M.: INFRA-M, 2000.

12. Sheremet A. D., Suits V. P. Audit: Textbook. 2nd ed., add. and rework. M.: INFRA-M, 2000.

13. Economic analysis: Textbook for universities / Ed. L. T. Gilyarovskaya. M.: UNITI-DANA, 2001.

14. Encyclopedia of General Audit. Legislative and regulatory framework, practice, recommendations and implementation methodology. In 2 tons. Coll. authors. M.: International School of Management "INTENSIVE" RAGS, publishing house "DIS", 1999-2004.

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

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