Audit. Audit of formation of authorized capital (the most important)

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Audit. Audit of formation of authorized capital (the most important)

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35. AUDIT OF FORMATION OF AUTHORIZED CAPITAL

The purpose verification of the formation of the authorized capital is the formation of an opinion on the compliance of the constituent documents of the enterprise with the current legislation in terms of the correctness of the formation and change of its authorized capital.

Information sources for verification are the same as for the audit of statutory documents. Formally, these two objects are checked in parallel. To verify the correctness of the formation of the authorized capital, it is also necessary to analyze the documents confirming the rights to real estate and land plots contributed by the founders as a contribution to the authorized capital.

Verification plan and program. It is necessary to find out who the founders of the enterprise are, the size of the authorized capital and shares of each founder, the procedure for distributing the net profit of the enterprise and paying dividends. To achieve the goal of the audit of the formation of the authorized capital, it is necessary to solve the following tasks:

1) verification of the procedure for the formation of the authorized (share) capital;

2) study of the structure of the authorized capital. The minimum amount of the authorized capital must be at least 1000 minimum wages (minimum wages) for OJSCs and at least 100 minimum wages for CJSCs and LLCs. Non-profit organizations, in accordance with the law, cannot have an authorized capital. In the form of a contribution to the authorized capital of a company, its founders can make:

1) cash (D 50, 51,52 K75);

2) non-current assets (D 01,04,07 K75);

3) securities (D 58 K75).

When checking, it is necessary to pay attention to the ratio of the authorized capital to the value of net assets. If the net assets are less than the authorized capital, then the auditors may recommend reducing the authorized capital to the value of the net assets. If at the end of the second and each subsequent reporting year the value of net assets turns out to be less than the value of the minimum authorized capital established by law, then the audit organization is not entitled to confirm the applicability of the going concern principle in relation to such an enterprise. The results of the audit are summarized on the basis of the goals and objectives of the verification of this section in working documents, where the following information can be reflected:

1) whether the credit balance on account 80 corresponds to the amount of the authorized capital declared in the constituent documents;

2) whether the founders have paid their shares in full;

3) whether there was a reasonable increase (decrease) in the authorized capital;

4) whether there are supporting documents for financial and economic transactions; whether activities are carried out without a license, etc. Serious attention should be paid to the audit of the organization of accounting and payment of dividends, as well as the correctness of the accrual and timeliness of payment of taxes and other obligatory payments on them.

Summarizing test results is carried out on the basis of the goals and objectives for checking this section in the working documents.

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