Audit. Audit of payments to suppliers and contractors (the most important)

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Audit. Audit of payments to suppliers and contractors (the most important)

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41. AUDIT OF SETTLEMENTS WITH SUPPLIERS AND CONTRACTORS

The main purpose of the test - compliance with the legality and timeliness of debt repayment, the correctness of accounting for calculations and measures taken by the management of the organization to eliminate the causes that cause the emergence of unclaimed debts.

Information sources:

▪ statement of accounting policies;

▪ supply contracts;

▪ invoices;

▪ acts of reconciliation of settlements;

▪ protocols on the offset of mutual claims;

▪ acts of inventory of payments;

▪ copies of payment documents;

▪ purchase book;

▪ accounting registers for account 60;

▪ general ledger;

▪ financial statements.

Verification plan and program.

1. Verification of the correctness of the execution of primary documents for the acquisition of goods and materials and the receipt of services in order to confirm the validity of the occurrence of accounts payable.

2. Confirmation of the timeliness of repayment and the correct reflection of accounts payable in the accounts.

3. Evaluation of the correctness of registration and reflection in the accounting of the submitted claims.

Tasks checks on accounts 60, 76: availability and correctness of the formation of documents defining the rights and obligations of the parties; the correctness of the assessment of the received inventory items; the correctness of accounting for accounts 60 and 76; completeness of posting received values or accounting for work performed. The main document is the contract concluded between the customer and the supplier. The auditor must check that analytical accounting is kept for each supplier separately in the currency of payment and its ruble equivalent at the exchange rate of the Central Bank of the Russian Federation. The exchange rate difference between the day of payment and the day the debt arises is reflected in the postings: positive - Dt60 Kt91; negative - Dt91 Kt60. At the end of the month, all unpaid invoices of suppliers in foreign currency must be recalculated into rubles and the resulting exchange difference is written off (if the foreign exchange rate is exceeded) from Dt91 Kt60. For debts with each supplier and contractor, it is necessary to determine compliance with the limitation period. In case of its omission or unreality, it shall be credited to account 91.

Typical mistakes:

1) the absence of contracts for the supply of products, primary documents or their incomplete execution;

2) incorrect correspondence of accounting accounts, incorrect determination of the taxable base for VAT and sales tax.

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