Audit. Audit of transactions with inventory items (the most important)

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Audit. Audit of transactions with inventory items (the most important)

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46. AUDIT OF OPERATIONS WITH COMMODITY AND MATERIAL VALUABLES

Goal checks - to form an opinion on the correctness of the classification of inventories, the reality of their assessment and the reliability of reflection in accounting and reporting.

Information sources:

1) supply contracts;

2) invoices;

3) invoices, purchase books;

4) power of attorney to receive goods and materials;

5) acts on the acceptance of materials;

6) inventory lists of goods and materials;

7) liability agreements;

8) statements of synthetic and analytical accounting for accounts 10, 15, 16, 19, 20, 60, 91, etc.;

9) main book;

10) accounting policies.

In the process of conducting an audit of inventories, it is necessary to solve the following tasks:

1) study the composition of the MPZ;

2) familiarize yourself with the conditions of their storage;

3) confirm the initial assessment of internal control and inventory accounting;

4) to confirm the correctness of the assessment of reserves and the reflection of operations for their receipt and use in accounting;

5) to assess the quality of the conducted inventories of the MPZ.

Verification plan and program. The auditor needs to check that the assessment of inventories was carried out in accordance with the requirements of PBU 5/01, depending on the type of receipt: acquisition for a fee from legal entities or individuals; under a barter agreement; free receipt; receipt as a contribution to the authorized capital. It is also necessary to check the compliance of the principle of assessment upon disposal of inventories, embedded in the accounting policy of the organization, with the actual state of affairs. The principle of assessment by homogeneous groups of inventories should be used for any method of disposal: use in the production and management process; external sales; gratuitous transfer; contribution to the authorized capital. Testing is usually carried out using a random method. Correct organization of warehouse accounting (availability of inventory cards). Is there an order establishing the circle of persons who have the right to demand materials and authorize their release from the warehouse (samples of these signatures should be in the warehouse). Has the organization developed a price tag nomenclature, if the accounting policy order specifies the accounting method using accounts 15 and 16? The availability of orders for the appointment of materially responsible persons and the conclusion of agreements with them on full financial responsibility are checked. The correctness of the applied correspondence schemes for invoices for incoming and outgoing inventories. VAT refunds on inventories are subject to mandatory control. The correctness of the reflection in the accounting of the value of missing (excess) values identified during the inventory, the peculiarities of documentation and the reflection in the accounting of transactions for the receipt and disposal of goods and packaging.

Check methods: solid; selective; interview; testing; arithmetic conversion.

Summarizing test results can be carried out in such working documents as tables of identified violations for homogeneous groups of business transactions. An assessment of the impact of identified violations on the readings of financial statements is also documented.

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