Audit. Checking bank accounts during an audit (most important)

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Audit. Checking bank accounts during an audit (most important)

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39. VERIFICATION OF BANK ACCOUNTS DURING AUDIT

The main purpose of the test - establishing the legality, reliability and expediency of transactions with funds at the enterprise, the correctness of their reflection in accounting.

Information sources:

▪ Agreements for banking services.

▪ Bank statements for ruble and foreign currency accounts with attached primary documents.

▪ Registers of analytical and synthetic accounting for accounts 51 “Currency accounts”, 52 “Currency accounts”, 55 “Special accounts in banks”, 57 “Transfers in transit”.

▪ General ledger.

Test plan:

1) establish the number and composition of ruble and foreign currency accounts opened by the enterprise in banks, classify business transactions related to the movement of foreign currency;

2) find out the legality and expediency of operations on the movement of funds on these accounts;

3) determine the correctness of the reflection of banking operations in accounting;

4) assess the state of payment and settlement discipline;

5) carry out arithmetic control of the calculation of exchange rate differences and confirm the reflections on the accounting accounts.

Check program:

1) bank statements with attached documents are randomly checked;

2) the correctness of the accounting of the received funds and the completeness of their transfer, as well as the correctness of the correspondence on accounts 51, 52, 55, 57;

3) contracts (agreements) concluded by the enterprise with foreign partners on export-import operations are studied;

4) the completeness and timeliness of the transfer of the exporter's foreign exchange earnings to its foreign exchange transit accounts in authorized banks is checked;

5) when purchasing goods for import, the calculation of the purchase cost of incoming inventory items is checked, based on the terms of contracts, taking into account customs duties, transportation costs and other costs for the purchase of goods or other valuables.

Verification methods

1. Solid.

2. Selective.

3. Survey. This refers to an oral survey of personnel, management of the client enterprise and third parties, which can be carried out at all stages of the inspection and is aimed at getting acquainted with the peculiarities of work and rest of employees, departments, finding out their level of qualifications, the composition of the work performed, the procedure for document flow, etc.

4. Testing.

5. Arithmetic recalculation. This refers to checking the arithmetic calculations of the client enterprise, which consists of checking the arithmetic accuracy of these documents and accounts through an independent selective recalculation.

Summarizing test results. Detected violations are recorded in working documents, and their quantitative impact on the financial statements is determined. The working document can be drawn up in the form of a table of violations indicating the characteristics of the violations, the regulatory document that was violated, as well as the auditor’s recommendations for eliminating the violation.

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