Audit. Relationship between audit and other forms of economic control (most important)

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Audit. Relationship between audit and other forms of economic control (most important)

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2. RELATIONSHIP OF AUDIT WITH OTHER FORMS OF ECONOMIC CONTROL

Auditing activities are carried out along with financial control over the activities of economic entities, carried out in accordance with the legislation of the Russian Federation by specially authorized state bodies.

External regulatory bodies represent:

1) Accounts Chamber - compliance with the law, budget expenditures, control over all economic entities;

2) Federal Treasury - federal budget expenditures;

3) Ministry of Finance - accounting, budget execution;

4) Ministry of Finance through the Federal Tax Service, off-budget funds - control over budget revenues;

5) Central Bank of the Russian Federation - money circulation;

6) Customs - currency control.

Goals and objectives - completeness of the formation of public funds and observance of public interests.

Internal regulatory authorities represent:

1) circle of ministries and departments (can be considered external);

2) audit commissions of owners;

3) internal control services.

Goals - maximizing profits, minimizing costs and taxes.

For independence from external and internal control, independent audits are needed.

Exception is an audit on executive matters commissioned by certain organizations, the conclusion is provided only to the organization ordering the audit. 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. The audit is directly related to the audit at the enterprise. But at the same time, due to the development of methods and forms of economic control, there are differences between audit and revision, including on legal grounds, practical tasks, work results, etc.

The audit is directly related to the conduct of internal control by the specialists of the organization itself. So, during the audit, the auditor should use the work of internal audit to study the internal control system at the enterprise and working documents to ensure that:

1) the relevant programs and scope of work of internal audit are consistent with the objectives of the external auditor;

2) the work of internal auditors is carried out according to plan and documented;

3) conclusions (conclusions) of internal auditors are sufficiently substantiated by the data they received and correspond to the existing circumstances, and the content of the reports corresponds to the results of their work;

4) high-risk areas known to the specialists of the audited entity are taken into account when planning work and internal audits;

5) the attitude of management and (or) owners to the comments, suggestions and questions raised by internal auditors is constructive.

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