Federal auditing standards are recommended. The procedure for approving federal auditing standards in Russia. The importance of international auditing standards in regulating auditing activities

24.02.2024

The book includes the Federal Law of December 30, 2008 No. 307-FZ “On Auditing Activities” and the federal rules (standards) of auditing activities regulating the procedure for conducting audits in the Russian Federation (as amended on November 19, 2008), as well as the Code of Ethics for Auditors of Russia ( approved by the Ministry of Finance of the Russian Federation on May 31, 2007, protocol No. 56). The publication is intended for managers of organizations of various forms of ownership, legal entities and individuals as a practical guide for conducting independent financial control of the economic activities of their own organization and organizations of business partners; teachers and students of economic universities, students of advanced training courses, training of accountants and auditors - as a teaching aid; professional auditors - as a reference tool. Text with changes and additions as of October 15, 2009.

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by liters company.

FEDERAL RULES (STANDARDS) FOR AUDITING ACTIVITIES

Approved

Government Decree

Russian Federation

RULE (STANDARD) No. 1. PURPOSE AND BASIC PRINCIPLES OF THE AUDIT OF FINANCIAL (ACCOUNTING) STATEMENTS

Introduction

1. This federal rule (standard) of auditing activities, developed taking into account international auditing standards, establishes common goals and basic principles for conducting an audit of financial (accounting) statements (hereinafter referred to as the audit), which the audit organization and the individual auditor (hereinafter referred to as the auditor) are obliged to comply.

Purpose of the audit

2. The purpose of the audit is to express an opinion on the reliability of the financial (accounting) statements of the audited entities and the compliance of the accounting procedure with the legislation of the Russian Federation. The auditor expresses his opinion on the reliability of the financial (accounting) statements in all material respects.

Although the auditor's opinion may enhance confidence in the financial statements, the user should not accept the opinion either as an expression of confidence in the entity's going concern in the future, or as evidence of the effective conduct of the entity's management.

General audit principles

3. When performing his professional duties, the auditor must be guided by the standards established by professional audit associations of which he is a member (professional standards), as well as the following ethical principles:

independence;

honesty;

objectivity;

professional competence and integrity;

confidentiality;

professional behavior.

4. The auditor, during the planning and conduct of the audit, must exercise professional skepticism and understand that circumstances may exist that entail a material misstatement of the financial (accounting) statements.

The exercise of professional skepticism means that the auditor critically evaluates the strength of the audit evidence obtained and carefully considers audit evidence that contradicts any documents or statements of management or calls into question the reliability of such documents or statements. Professional skepticism should be exercised during the audit to, among other things, avoid overlooking suspicious circumstances, making unwarranted generalizations in drawing conclusions, or using erroneous assumptions in determining the nature, timing and scope of audit procedures or in evaluating their results.

When planning and conducting an audit, the auditor should not assume that the management of the entity being audited is dishonest, but should not assume that management is completely honest. Oral and written statements by management are not a substitute for the auditor's need to obtain sufficient appropriate audit evidence to form reasonable conclusions on which to base the audit opinion.

Scope of audit

5. The term “audit scope” refers to the audit procedures considered necessary to achieve the audit objective in the circumstances. The procedures necessary to conduct an audit must be determined by the auditor taking into account the federal rules (standards) of auditing activities, internal rules (standards) of auditing activities applied in professional audit associations of which he is a member, as well as the rules (standards) of auditing activities of the auditor. In addition to the rules (standards), when determining the scope of the audit, the auditor must take into account federal laws, other regulations and, if necessary, the terms of the audit engagement and the requirements for preparing the report.

Reasonable Confidence

6. The audit is intended to provide reasonable assurance that the financial (accounting) statements taken as a whole do not contain material misstatements. The concept of reasonable assurance is a general approach related to the process of obtaining audit evidence necessary and sufficient for the auditor to conclude that there are no material misstatements in the financial (accounting) statements, considered as a whole. The concept of reasonable assurance applies to the entire audit process.

7. The limitations inherent in the audit and affecting the auditor’s ability to detect significant misstatements in the financial (accounting) statements occur due to the following reasons:

During the audit, sampling methods and testing are used;

any accounting and internal control systems are imperfect (for example, they cannot guarantee the absence of collusion);

The preponderance of audit evidence merely provides evidence in support of a particular conclusion and is not exhaustive.

8. An additional factor limiting the reliability of the audit is that the work performed by the auditor to form his opinion is based on his professional judgment, in particular with respect to:

collecting audit evidence, including when determining the nature, timing and scope of audit procedures;

preparing conclusions drawn on the basis of audit evidence, for example, when determining the validity of estimates obtained by the management of the audited entity during the preparation of financial (accounting) statements.

9. In addition, there are other limitations that may affect the strength of the evidence used to draw conclusions about certain assertions in the financial statements (for example, in relation to transactions between affiliates). For such cases, some auditing rules (standards) define special procedures that, due to the content of certain premises, provide sufficient appropriate audit evidence in the absence of:

unusual circumstances that increase the risk of material misstatement of the financial (accounting) statements beyond what would be expected under normal conditions;

a sign indicating the presence of any material misstatement of the financial (accounting) statements.

Responsibility for financial (accounting) statements

10. While the auditor is responsible for formulating and expressing an opinion on the reliability of the financial (accounting) statements, the management of the audited entity is responsible for the preparation and presentation of the financial (accounting) statements. An audit of financial (accounting) statements does not relieve the management of the audited entity from such responsibility.

RULE (STANDARD) No. 2. DOCUMENTATION OF THE AUDIT

Introduction

1. This federal rule (standard) of auditing activities, developed taking into account international auditing standards, establishes uniform requirements for the preparation of documentation in the process of auditing financial (accounting) statements.

2. The audit organization and the individual auditor (hereinafter referred to as the auditor) must document all information that is important from the point of view of providing evidence confirming the audit opinion, as well as evidence that the audit was conducted in accordance with federal auditing rules (standards). .

3. The term “documentation” refers to working documents and materials prepared by the auditor and for the auditor or received and stored by the auditor in connection with the audit. Working documents can be presented in the form of data recorded on paper, photographic film, electronically or in another form.

4. Working documents are used:

when planning and conducting an audit;

when carrying out ongoing monitoring and verification of the work performed by the auditor;

to record audit evidence obtained to support the auditor's opinion.

5. The auditor should prepare working papers in a form sufficiently complete and detailed to provide a general understanding of the audit.

6. The auditor must reflect in the working papers information on the planning of the audit work, the nature, time frame and scope of the audit procedures performed, their results, as well as the conclusions drawn on the basis of the audit evidence obtained. The working papers should contain the auditor's rationale for all important matters on which professional judgment is required, together with the auditor's conclusions thereon. In cases where the auditor has considered complex issues of principle or has expressed professional judgment on any matters important to the audit, the working papers should include the facts that were known to the auditor at the time the conclusions were formulated and the necessary reasoning.

7. The auditor has the right to determine the scope of documentation for each specific audit, guided by his professional opinion. Reflection in the documentation of every document or issue examined by the auditor during the audit is not necessary. However, the scope of the audit documentation should be such that, if it becomes necessary to transfer the work to another auditor who does not have experience in this engagement, the new auditor could, based solely on this documentation (without resorting to additional conversations or correspondence with the previous auditor, auditor) to understand the work done and the validity of the decisions and conclusions of the previous auditor.

8. The form and content of working documents are determined by such factors as:

the nature of the audit engagement;

requirements for the auditor's report;

the nature and complexity of the audited entity's activities;

the nature and condition of the audited entity's accounting and internal control systems;

the need to give instructions to the auditor’s employees, exercise ongoing control over them and check the work performed by them;

specific methods and techniques used in the audit process.

9. Working papers should be compiled and organized in such a way as to meet the circumstances of each specific audit and the needs of the auditor during its conduct. In order to increase the efficiency of preparation and verification of working documents, it is recommended that the audit organization develop standard forms of documentation (for example, a standard structure of an audit file (folder) of working documents, forms, questionnaires, standard letters and appeals, etc.). This standardization of documentation makes it easier to assign work to subordinates and at the same time allows for reliable control over the results of the work they perform.

10. To increase the efficiency of the audit, it is allowed to use during the audit graphics, analytical and other documentation prepared by the audited entity. In these cases, the auditor is required to ensure that such materials are prepared appropriately.

11. Working documents usually contain:

information regarding the legal form and organizational structure of the audited entity;

excerpts or copies of necessary legal documents, agreements and protocols;

information about the industry, economic and legal environment in which the audited entity operates;

information reflecting the planning process, including audit programs and any changes to them;

evidence of the auditor's understanding of accounting and internal control systems;

evidence supporting the assessment of inherent risk, level of control risk and any adjustments to those assessments;

evidence confirming the fact of the auditor’s analysis of the audited entity’s internal audit work and the auditor’s conclusions;

analysis of financial and economic transactions and account balances;

analysis of the most important economic indicators and trends in their changes;

information about the nature, time frame, scope of audit procedures and the results of their implementation;

evidence confirming that the work performed by the auditor’s employees was carried out under the supervision of qualified specialists and was verified;

information about who performed the audit procedures, indicating the time they were performed;

detailed information on the procedures applied in relation to the financial (accounting) statements of divisions and/or subsidiaries audited by another auditor;

copies of communications sent to and received from other auditors, experts and third parties;

copies of letters and telegrams on audit issues brought to the attention of the managers of the audited entity or discussed with them, including the terms of the audit agreement or identified significant deficiencies in the internal control system;

written statements received from the audited entity;

the auditor's conclusions on significant audit matters, including errors and unusual circumstances identified by the auditor during the performance of the audit procedures and information about the actions taken by the auditor in connection therewith;

copies of financial (accounting) statements and auditor's report.

12. When audits are conducted over a period of years, some working paper files (folders) may be classified as permanent, updated as new information becomes available, but remain significant, in contrast to current audit files (folders), which contain information primarily relevant to the audit of a particular period.

Confidentiality, ensuring the safety of working documents and ownership of them

13. The auditor must establish appropriate procedures to ensure confidentiality, security of working documents, and for their storage for a sufficient period of time, based on the nature of the auditor’s activities, as well as legal and professional requirements, but not less than 5 years.

14. Working papers are the property of the auditor. Although portions of documents or extracts from them may be provided to the audited entity at the discretion of the auditor, they cannot serve as a substitute for the accounting records of the audited entity.

RULE (STANDARD) No. 3. AUDIT PLANNING

Introduction

1. This federal rule (standard) of auditing, developed taking into account international auditing standards, establishes uniform requirements for planning an audit of financial (accounting) statements (hereinafter referred to as audit), applies primarily to audits that the auditor has been conducting for more than a year in in relation to the audited entity. To conduct an audit during the first year, the auditor is required to expand the planning process to include matters beyond those specified in this standard.

2. The audit organization and the individual auditor (hereinafter referred to as the auditor) are obliged to plan their work so that the audit is carried out effectively.

3. Audit planning involves developing an overall strategy and a detailed approach to the expected nature, timing and scope of audit procedures.

Work planning

4. The auditor's planning of his work ensures that important areas of the audit receive the necessary attention, that potential problems are identified, and that the work is completed cost-effectively, efficiently, and in a timely manner. Planning allows you to effectively distribute work between members of the team of specialists participating in the audit, as well as coordinate such work.

5. The time spent on work planning depends on the scale of the audited entity’s activities, the complexity of the audit, the auditor’s experience working with this entity, as well as knowledge of the specifics of its activities.

6. Obtaining information about the activities of the audited entity is an important part of work planning; it helps the auditor to identify events, transactions and other features that may have a significant impact on the financial (accounting) statements.

7. The auditor has the right to discuss certain sections of the general audit plan and certain audit procedures with employees, as well as with members of the board of directors and members of the audit committee of the audited entity to improve the efficiency of the audit and coordinate audit procedures with the work of the audited entity’s personnel. In this case, the auditor is responsible for the correct and complete development of the overall plan and audit program.

General audit plan

8. The auditor must draw up and document a general audit plan, describing the expected scope and procedure for conducting the audit. The overall audit plan should be sufficiently detailed to guide the development of the audit program. At the same time, the form and content of the general audit plan may vary depending on the scale and specifics of the audited entity’s activities, the complexity of the audit and the specific techniques used by the auditor.

9. When developing the overall audit plan, the auditor should take into account:

a) the activities of the audited entity, including:

general economic factors and industry conditions affecting the activities of the audited entity;

characteristics of the audited entity, its activities, financial condition, requirements for its financial (accounting) or other reporting, including changes that have occurred since the date of the previous audit;

general level of management competence;

b) accounting and internal control systems, including:

accounting policies adopted by the audited entity and changes thereto;

the impact of new regulatory legal acts in the field of accounting on the reflection in the financial (accounting) statements of the results of the financial and economic activities of the audited entity;

plans for the use of tests of controls and substantive procedures during the audit;

c) risk and materiality, including:

expected assessments of inherent and control risk, identifying the most important areas for audit;

establishing audit materiality levels;

the possibility (including based on historical audits) of material misstatements or fraud;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

identifying complex areas of accounting, including those where the result depends on the subjective judgment of the accountant, for example, when preparing estimates;

d) the nature, time frame and scope of procedures, including:

the relative importance of various sections of accounting for the audit;

the impact on the audit of the presence of a computer accounting system and its specific features;

the existence of an internal audit unit of the audited entity and its possible influence on external audit procedures;

e) coordination and direction of work, ongoing monitoring and verification of work performed, including:

involvement of other audit organizations in the inspection of branches, divisions, subsidiaries of the audited entity;

attracting experts;

the number of territorially separate divisions of one audited entity and their spatial distance from each other;

the number and qualifications of specialists required to work with this audited entity;

f) other aspects, including:

the possibility that the entity's going concern assumption may be called into question;

circumstances requiring special attention, for example, the existence of affiliates;

features of the contract for the provision of audit services and legal requirements;

the length of service of the auditor’s employees and their participation in the provision of related services to the audited entity;

the form and timing of preparation and submission to the audited entity of opinions and other reports in accordance with the law, rules (standards) of auditing activities and the conditions of a specific audit assignment.

Audit program

10. The auditor must establish and document an audit program that defines the nature, timing and scope of planned audit procedures necessary to implement the overall audit plan. An audit program is a set of instructions for the auditor performing the audit and a means of monitoring and verifying that the work is being carried out properly. The audit program may also include verifiable prerequisites for the preparation of financial (accounting) statements for each of the audit areas and the time planned for the various audit areas or procedures.

11. In preparing the audit program, the auditor is required to take into account his assessment of inherent and control risk, as well as the required level of assurance to be provided in substantive procedures, the timing of tests of controls and substantive procedures, and coordination any assistance expected to be received from the audited entity, as well as the involvement of other auditors or experts. In the process of developing the audit program, the issues specified in paragraph 9 of this rule (standard) should be taken into account.

Changes to the overall audit plan and program

12. The overall audit plan and audit program should be refined and revised as necessary during the audit. The auditor plans his work continuously throughout the duration of the audit engagement in connection with changing circumstances or unexpected results obtained during the performance of audit procedures. The reasons for significant changes to the overall audit plan and program should be documented.

RULE (STANDARD) No. 4. MATERIALITY IN AUDIT

Introduction

1. This federal auditing rule (standard), developed taking into account international auditing standards, establishes uniform requirements regarding the concept of materiality and its relationship with audit risk.

2. The audit organization and the individual auditor (hereinafter referred to as the auditor) during the audit process are required to assess materiality and its relationship with audit risk.

3. Information about individual assets, liabilities, income, expenses and business transactions, as well as components of capital, is considered material if its omission or distortion may affect the economic decisions of users made on the basis of financial (accounting) statements. Materiality depends on the size of the financial (accounting) reporting indicator and/or error, assessed in the event of their absence or distortion.

Materiality

4. The auditor evaluates what is material using his professional judgment.

When developing the audit plan, the auditor establishes an acceptable level of materiality in order to identify material (from a quantitative point of view) misstatements. However, both the magnitude (quantity) and nature (quality) of the misstatement must be taken into account. Examples of qualitative distortions are:

insufficient or inadequate description of the accounting policy, when there is a likelihood that the user of the financial (accounting) statements will be misled by such a description;

failure to disclose information about a violation of regulatory requirements when there is a likelihood that the subsequent application of sanctions could have a significant impact on the audited entity's results of operations.

5. The auditor needs to consider the possibility of misstatements in relation to relatively small amounts, which in the aggregate may have a significant impact on the financial (accounting) statements. For example, an error in a month-end procedure may indicate a possible material misstatement that would arise if the error were repeated each month.

6. The auditor considers materiality both at the level of financial (accounting) statements as a whole, and in relation to the balances of individual accounting accounts, groups of similar transactions and cases of information disclosure. Materiality may be influenced by regulatory legal acts of the Russian Federation, as well as factors related to individual accounting accounts of financial (accounting) statements and the relationships between them. Depending on the aspect of the financial (accounting) statements being considered, different levels of materiality are possible.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

7. The auditor should consider materiality when:

determining the nature, timing and scope of audit procedures;

assessing the consequences of misstatements.

Relationship between materiality and audit risk

8. When planning an audit, the auditor considers what could cause a material misstatement of the financial (accounting) statements. The auditor's assessment of materiality related to individual accounting accounts and groups of similar transactions helps the auditor to decide such issues as, for example, what financial statements to audit, as well as the use of sampling and analytical procedures. This allows the auditor to select audit procedures that are expected to collectively reduce audit risk to an acceptably low level.

9. There is an inverse relationship between materiality and audit risk, that is, the higher the level of materiality, the lower the level of audit risk, and vice versa. The inverse relationship between materiality and audit risk is taken into account by the auditor when determining the nature, timing and scope of audit procedures. For example, if, after planning specific audit procedures, the auditor determines that the acceptable level of materiality is lower, then audit risk increases. The auditor compensates for this either by reducing the previously assessed level of control risk where possible and maintaining the reduced level by performing enhanced or additional tests of controls, or by reducing the risk of undetected misstatements by changing the nature, timing and extent of planned substantive procedures.

Materiality and audit risk in evaluating audit evidence

10. The assessment of materiality and audit risk at the initial planning stage may differ from such an assessment after summing up the audit procedures. This may be caused by a change in circumstances or a change in the auditor's awareness of the audit results. For example, if the audit is planned before the end of the reporting period, the auditor can only forecast the results of business activities and the financial position of the audited entity. If actual results of operations and financial position differ materially from those projected, the assessment of materiality and audit risk may change. In addition, the auditor, when planning his work, may deliberately set the acceptable level of materiality at a level lower than that intended to be used to evaluate the audit results. This may be done to reduce the likelihood of misstatements not being detected and also to provide the auditor with some degree of security in assessing the consequences of misstatements discovered during the audit.

Assessing the consequences of misstatements

11. When assessing the reliability of financial (accounting) statements, the auditor should determine whether the totality of uncorrected misstatements identified during the audit is material.

12. The totality of uncorrected misstatements includes:

specific misstatements identified by the auditor, including the results of uncorrected misstatements identified during the previous audit;

the auditor's best estimate of other misstatements that cannot be specifically identified (that is, predictable errors).

13. If the auditor concludes that misstatements may be material, he needs to reduce audit risk by performing additional audit procedures or require management of the audited entity to make amendments to the financial (accounting) statements. Management has the right to amend the financial (accounting) statements taking into account identified misstatements.

14. If the management of the audited entity refuses to amend the financial (accounting) statements, and the results of extended (additional) audit procedures do not allow the auditor to conclude that the totality of uncorrected misstatements is not material, the auditor should consider appropriate modification of the auditor's report in accordance with the federal rule (standard) of auditing activities “Audit's report on financial (accounting) statements.”

15. If the aggregate of undetected misstatements identified by the auditor approaches the materiality level, the auditor needs to determine whether it is probable that the undetected misstatements, when considered together with the aggregate of detected but uncorrected misstatements, may exceed the materiality level determined by the auditor. Consequently, as the aggregate uncorrected misstatements approach the materiality level, the auditor considers mitigating the risk by performing additional audit procedures or requiring management to amend the financial statements to reflect the identified misstatements.

RULE (STANDARD) No. 5. AUDIT EVIDENCE

Introduction

1. This federal auditing rule (standard), developed taking into account international auditing standards, establishes uniform requirements for the quantity and quality of evidence that must be obtained in an audit of financial (accounting) statements, as well as for the procedures performed to obtain evidence.

2. The audit organization and the individual auditor (hereinafter referred to as the auditor) must obtain sufficient appropriate evidence in order to formulate reasonable conclusions on which the auditor’s opinion is based.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

3. Audit evidence is obtained as a result of a set of tests of internal controls and the necessary substantive procedures. In some situations, evidence may be obtained solely through substantive procedures.

4. Audit evidence is the information obtained by the auditor during the audit, and the result of the analysis of this information, on which the auditor’s opinion is based. Audit evidence includes, in particular, primary documents and accounting records that are the basis of financial (accounting) statements, as well as written explanations from authorized employees of the audited entity and information obtained from various sources (from third parties).

5. Tests of internal controls mean activities performed to obtain audit evidence regarding the proper design and effectiveness of the accounting and internal control systems.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

6. Substantive testing procedures are carried out to obtain audit evidence of material misstatements in the financial (accounting) statements. These verification procedures are carried out in the following forms:

detailed tests assessing the correctness of recording transactions and balances in accounting accounts;

analytical procedures.

Sufficient appropriate audit evidence

7. The concepts of sufficiency and appropriateness are interrelated and apply to audit evidence obtained from tests of internal controls and substantive audit procedures. Sufficiency is a quantitative measure of audit evidence. Proper character is the qualitative aspect of audit evidence, which determines its consistency with the specific prerequisite for the preparation of financial (accounting) statements and its reliability. Typically, the auditor considers it necessary to rely on audit evidence that only provides evidence in support of a particular conclusion, rather than being exhaustive, and often collects audit evidence from different sources or from documents of different content in order to support the same business transaction or group similar business transactions.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

8. When forming an audit opinion, the auditor usually does not examine all of the business transactions of the audited entity, since conclusions regarding the correctness of the reflection of the balance of funds in the accounts, a group of similar business transactions, or internal controls may be based on judgments or procedures carried out in a selective manner.

9. The following factors influence the auditor's judgment about what constitutes sufficient appropriate audit evidence:

audit assessment of the nature and magnitude of audit risk both at the level of financial (accounting) statements and at the level of balances in accounting accounts or similar business transactions;

the nature of accounting and internal control systems, as well as the risk assessment of internal controls;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

the materiality of the audited item in the financial (accounting) statements;

experience gained during previous audits;

the results of audit procedures, including possible detections of fraud or error;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

source and reliability of information.

10. When obtaining audit evidence using tests of internal controls, the auditor should consider the sufficiency and appropriateness of that evidence to support the assessment of the level of risk of internal controls.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

11. The objects of assessment of accounting and internal control systems, regarding which the auditor collects audit evidence, include:

organization – arrangement of accounting and internal control systems that ensure prevention and (or) detection, as well as correction of material misstatements;

Operation – the effectiveness of the accounting and internal control systems over the relevant period of time.

12. When obtaining audit evidence using substantive audit procedures, the auditor should consider the sufficiency and appropriateness of that evidence along with evidence obtained from tests of internal controls to confirm the assertions in the preparation of the financial statements.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

13. Prerequisites for the preparation of financial (accounting) statements - statements made by the management of the audited entity in explicit or implicit form, reflected in the financial (accounting) statements. These prerequisites include the following elements:

existence – existence as of a certain date of an asset or liability reflected in the financial (accounting) statements;

rights and obligations - ownership by the audited entity as of a certain date of an asset or liability reflected in the financial (accounting) statements;

occurrence – a business transaction or event related to the activities of the audited entity that took place during the relevant period;

completeness – the absence of assets, liabilities, business transactions or events not reflected in the accounting records, or undisclosed accounting items;

valuation – reflection in the financial (accounting) statements of the appropriate book value of an asset or liability;

accurate measurement - the accuracy of reflecting the amount of a business transaction or event with the attribution of income or expenses to the corresponding period of time;

presentation and disclosure - explanation, classification and description of an asset or liability in accordance with the rules for its reflection in financial (accounting) statements.

14. Audit evidence is generally collected by taking into account each aspect of the preparation of the financial (accounting) statements. Audit evidence regarding one assertion, such as the existence of inventory, cannot compensate for the lack of audit evidence regarding another assertion, such as a valuation. The nature, timing and extent of verification procedures essentially depend on the premises being verified. During tests, the auditor may obtain evidence relating to more than one assertion, for example, when testing the collection of a receivable, he may obtain audit evidence regarding both its existence and its value (valuation).

15. The reliability of audit evidence depends on its source (internal or external) and the form in which it is presented (visual, documentary or oral). When assessing the reliability of audit evidence, depending on the specific situation, we proceed from the following:

audit evidence obtained from external sources (from third parties) is more reliable than evidence obtained from internal sources;

audit evidence obtained from internal sources is more reliable if existing accounting and internal control systems are effective;

audit evidence collected directly by the auditor is more reliable than evidence obtained from the audited entity;

Audit evidence in the form of documents and written statements is more reliable than statements presented orally.

16. Audit evidence is more convincing if it is obtained from different sources, has different content and does not contradict each other. In such cases, the auditor may be able to provide a higher degree of assurance than would be obtained by considering the audit evidence in isolation. Conversely, if audit evidence obtained from one source is inconsistent with that obtained from another, the auditor must determine what additional procedures need to be performed to determine the reasons for the discrepancy.

17. The auditor should weigh the costs associated with obtaining audit evidence against the usefulness of the information obtained. However, the complexity of the work and the expense are not sufficient grounds for refusing to perform the necessary procedure.

18. If there are serious doubts about the reliability of the reflection of business transactions in the financial (accounting) statements, the auditor should try to obtain sufficient appropriate audit evidence to eliminate such doubt. If it is not possible to obtain sufficient appropriate audit evidence, the auditor should express an opinion qualified or disclaim an opinion.

Procedures for obtaining audit evidence

19. The auditor obtains audit evidence by performing the following substantive procedures: inspection, observation, inquiry, confirmation, recalculation (checking the arithmetic calculations of the audited entity) and analytical procedures. The duration of these procedures depends, in particular, on the period allotted for obtaining audit evidence.

20. An inspection is an examination of records, documents or physical assets. During the inspection of records and documents, the auditor obtains audit evidence of varying degrees of reliability depending on its nature and source, as well as the effectiveness of internal controls over the processing of it.

Documentary audit evidence of varying degrees of reliability includes:

documentary audit evidence created and held by third parties (external information);

documentary audit evidence created by third parties, but held by the audited entity (external and internal information);

documentary audit evidence created and held by the auditee (internal information).

An inspection of an entity's tangible assets provides reliable audit evidence regarding its existence, but not necessarily regarding its ownership or value.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

21. Observation is the auditor's monitoring of a process or procedure performed by others (for example, the auditor observing inventory counts performed by employees of the entity being audited, or monitoring the performance of internal control procedures for which there is no documentary evidence available for audit).

22. An inquiry is a search for information from knowledgeable persons within or outside the entity being audited. A request on the form can be either a formal written request addressed to third parties or an informal oral question addressed to employees of the audited entity. Answers to inquiries (questions) may provide the auditor with information that he did not previously have or that supports audit evidence.

23. A confirmation is a response to a request for information contained in accounting records (for example, the auditor typically requests confirmation of accounts receivable directly from the debtors).

24. Recalculation is a check of the accuracy of arithmetic calculations in primary documents and accounting records or the auditor performing independent calculations.

25. Analytical procedures represent an analysis and assessment of the information received by the auditor, a study of the most important financial and economic indicators of the audited entity in order to identify unusual and (or) incorrectly reflected business transactions in the accounting records, and identify the causes of such errors and distortions.

RULE (STANDARD) No. 6. AUDIT'S REPORT ON FINANCIAL (ACCOUNTING) STATEMENTS

Introduction

1. This federal rule (standard) of auditing, developed taking into account international auditing standards, establishes uniform requirements for the form and content of the audit report, which is drawn up based on the results of the audit of financial (accounting) statements (hereinafter referred to as the audit). Most of these requirements can be used to prepare audit opinions on accounting information that is not financial statements.

2. The audit report is an official document intended for users of the financial (accounting) statements of the audited entities, drawn up in accordance with this rule and containing the opinion of the audit organization or individual auditor (hereinafter referred to as the auditor) expressed in the prescribed form on the reliability in all material respects of the financial (accounting) statements of the audited entity and compliance of the procedure for maintaining accounting records with the legislation of the Russian Federation.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

3. Reliability in all material respects is understood as the degree of accuracy of financial (accounting) reporting data, which allows users of these reporting to draw correct conclusions about the results of economic activities, financial and property status of the audited entities and make informed decisions based on these conclusions. To assess the degree of compliance of financial (accounting) statements with the legislation of the Russian Federation, the auditor must establish the maximum permissible deviations by determining, for the purposes of the audit, the materiality of accounting indicators and financial (accounting) statements in accordance with the federal auditing rule (standard) “Materiality in an audit” .

Essential Elements of the Auditor's Report

4. The auditor's report includes:

a) name;

b) addressee;

c) the following information about the auditor:

organizational and legal form and name, for an individual auditor - last name, first name, patronymic and an indication that he carries out his activities without forming a legal entity;

location;

number, date of granting the license to carry out audit activities and the name of the body that granted the license, as well as the validity period of the license;

membership in an accredited professional audit association;

d) the following information about the audited entity:

organizational and legal form and name;

location;

number and date of the state registration certificate;

paragraph excluded. – Decree of the Government of the Russian Federation dated October 7, 2004 No. 532;

e) introductory part;

f) part describing the scope of the audit;

h) date of the auditor's report;

i) signature of the auditor.

Consistency in the form and content of the auditor's report should be maintained to facilitate the user's understanding of it and to help detect unusual circumstances should they arise.

5. The audit report must have the title “Audit report on financial (accounting) statements” in order to distinguish the auditor’s report from opinions drawn up by other persons, for example, officials of the audited entity, the board of directors.

6. The audit report must be addressed to the person provided for by the legislation of the Russian Federation and (or) the audit agreement. As a rule, the audit report is addressed to the owner of the audited entity (shareholders), board of directors, etc.

7. The audit report must contain a list of audited financial (accounting) statements of the audited entity, indicating the reporting period and its composition.

8. The auditor’s report must include a statement that responsibility for maintaining accounting records, preparing and presenting financial (accounting) statements rests with the audited entity, and a statement that the auditor’s responsibility is only to express, based on the audit, an opinion on the reliability of this financial (accounting) statements in all material respects and compliance of the accounting procedure with the legislation of the Russian Federation.

9. An example of the presentation of information in the introductory part of the auditor’s report:

balance sheet;

profit and loss statement;

explanatory note.

Responsibility for the preparation and presentation of these financial (accounting) statements lies with the executive body of the YYY organization. Our responsibility is to express an opinion on the reliability in all material respects of these statements and the compliance of the accounting procedure with the legislation of the Russian Federation on the basis of the audit performed.”

10. The audit report must describe the scope of the audit, indicating that the audit was conducted in accordance with federal laws, federal rules (standards) of auditing, internal rules (standards) of auditing, operating in professional audit associations of which the auditor is a member, or in in accordance with other documents. Audit scope refers to the auditor's ability to perform audit procedures considered necessary in the circumstances based on an acceptable level of materiality. This is necessary to provide the user with confidence that the audit was carried out in accordance with the regulatory legal acts of the Russian Federation, rules and standards.

11. The auditor's report must contain a statement that the audit was planned and performed to provide reasonable assurance that the financial (accounting) statements do not contain material misstatements.

12. The audit report must indicate that the audit was conducted on a sample basis and included:

study, based on testing, of evidence confirming numerical indicators and disclosure in financial (accounting) statements of information about the financial and economic activities of the audited entity;

assessment of the form of compliance with the principles and rules of accounting used in the preparation of financial (accounting) statements;

consideration of the main assessment indicators obtained by the management of the audited entity in the preparation of financial (accounting) statements;

assessment of the presentation of financial (accounting) statements.

(Clause 12 as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

13. The audit report must contain a statement by the auditor that the audit provides sufficient grounds for expressing an opinion on the reliability in all material respects of the financial (accounting) statements and the compliance of the accounting procedure with the legislation of the Russian Federation.

14. An example of the presentation of information in the part describing the scope of the audit:

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

The audit was planned and performed to obtain reasonable assurance that the financial statements are free from material misstatement. The audit was conducted on a sample basis and included a testing-based examination of evidence confirming the figures in the financial (accounting) statements and the disclosure of information about financial and economic activities therein, assessment of compliance with the accounting principles and rules applied in the preparation of financial (accounting) statements. reporting, consideration of the main assessment indicators obtained by the management of the audited entity, as well as an assessment of the presentation of financial (accounting) statements. We believe that the audit provided provides sufficient grounds to express our opinion on the reliability of the financial (accounting) statements and the compliance of the accounting procedure with the legislation of the Russian Federation.”

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

15. To express the auditor’s opinion, the following words are used: “In our opinion, the financial (accounting) statements of the organization “YYY” reflect fairly in all material respects...”.

16. The auditor's report must clearly indicate the basic principles and methods (applied procedure) of accounting and preparation of financial (accounting) statements of the audited entity.

17. The basic principles and methods of accounting and preparation of financial (accounting) statements are determined by the relevant regulatory legal acts of the Russian Federation.

18. In addition to the opinion on the reliability of the financial (accounting) statements, it may be necessary to express in the auditor’s report an opinion on the compliance of these statements with other requirements, as well as regarding other documents and transactions related to the financial and economic activities of the audited entity, if they are subject to mandatory audit in accordance with the legislation of the Russian Federation.

19. An example of the presentation of information in the part containing the auditor’s opinion:

“In our opinion, the financial (accounting) statements of the organization “YYY” reflect reliably in all material respects the financial position as of December 31, 20(XX) and the results of its financial and economic activities for the period from January 1 to December 31, 20(XX) d. inclusive in accordance with the requirements of the legislation of the Russian Federation regarding the preparation of financial (accounting) statements (and/or indicate documents defining the requirements for the procedure for preparing financial (accounting) statements).”

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

20. The auditor should date the auditor's report to the date on which the audit was completed, since this circumstance provides the user with reason to believe that the auditor took into account the impact that events and transactions known to the auditor that arose before that date had on the financial statements and the auditor's report. .

(Clause 20 as amended by Decree of the Government of the Russian Federation dated 07.10.2004 No. 532)

21. Because the auditor is required to issue an audit report on the financial statements prepared and presented by management of the entity being audited, the auditor should not indicate in the report a date prior to the date on which the financial statements were signed or approved by management of the entity being audited.

22. The audit report must be signed by the head of the auditor or the person authorized by the head and the person who conducted the audit (the person who led the audit), indicating the number and validity period of his qualification certificate. These signatures must be sealed. If the audit was carried out by an individual auditor who independently conducted the audit, the audit report can only be signed by this auditor.

23. Attached to the auditor's report are financial (accounting) statements in respect of which an opinion is expressed and which are dated, signed and sealed by the audited entity in accordance with the requirements of the legislation of the Russian Federation regarding the preparation of such statements. The auditor's report and the specified reporting must be bound in a single package, the sheets are numbered, laced, sealed with the auditor's seal indicating the total number of sheets in the package. The audit report is prepared in the number of copies agreed upon by the auditor and the audited entity, but both the auditor and the audited entity must receive at least one copy of the audit report and the attached financial (accounting) statements.

Audit report

24. An unconditionally favorable opinion should be expressed when the auditor comes to the conclusion that the financial (accounting) statements give a fair view of the financial position and results of financial and economic activities of the audited entity in accordance with established principles and methods of accounting and preparation financial (accounting) reporting in the Russian Federation.

25. An example of an audit report expressing an unconditionally positive opinion:

"AUDIT'S OPINION ON FINANCIAL (ACCOUNTING) STATEMENTS

Name: limited liability company "ХХХ".

License: number, date, name of the body that granted the audit organization a license to carry out audit activities, validity period.

Is a member of (specify the name of the accredited professional audit association).

Audited entity

Name: open joint stock company "YYY".

Location: zip code, city, street, house number, etc.

State registration: number and date of registration certificate.

The paragraph has been deleted. – Decree of the Government of the Russian Federation dated October 7, 2004 No. 532.

We audited the attached financial (accounting) statements of the organization "YYY" for the period from January 1 to December 31, 20(XX) inclusive. Financial (accounting) statements of the organization “YYY” consist of:

balance sheet;

profit and loss statement;

explanatory note.

We conducted an audit in accordance with:

Federal Law “On Auditing Activities”;

federal rules (standards) of auditing activities;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

internal rules (standards) of auditing activities (specify the accredited professional association);

rules (standards) of the auditor's audit activities;

regulatory acts of the body that regulates the activities of the audited entity.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

"XX" month 20 (XX)

The head (or other authorized person) of the audit organization or an individual auditor (full name, signature, position).

Head of the audit (full name, signature, number, type of qualification certificate and its validity period).

Auditor's seal."

Modified auditor's report

26. The auditor’s report is considered modified if:

factors that do not influence the auditor's opinion, but are described in the auditor's report in order to attract the attention of users to any situation that has arisen in the audited entity and disclosed in the financial (accounting) statements;

Factors affecting the auditor's opinion that could lead to a qualified opinion, disclaimer of opinion or an adverse opinion.

27. In certain circumstances, the auditor's report may be modified by including a portion that draws attention to a matter affecting the financial statements that is discussed in the notes to the financial statements.

28. The auditor, if necessary, should modify the auditor's report by including a part indicating an aspect related to compliance with the principle of going concern of the audited entity.

29. The auditor should also consider modifying the auditor's report to include a portion that identifies a significant uncertainty (other than going concern) that depends on future events to resolve and that could affect the financial statements.

30. The non-opinion part is usually included after the opinion part and indicates that the situation does not warrant the inclusion of a qualification in the auditor's opinion.

31. An example of an auditor’s report in the part that attracts attention:

“We conducted an audit of the attached financial (accounting) statements of the organization “YYY” for the period from January 1 to December 31, 20 (XX) inclusive. Financial (accounting) statements of the organization “YYY” consist of:

balance sheet;

profit and loss statement;

appendices to the balance sheet and profit and loss account;

explanatory note.

We conducted an audit in accordance with:

Federal Law “On Auditing Activities”;

federal rules (standards) of auditing activities;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

internal rules (standards) of auditing activities (specify the accredited professional association);

rules (standards) of the auditor's audit activities;

regulatory acts of the body that regulates the activities of the audited entity.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

In our opinion, the financial (accounting) statements of the organization "YYY" reflect reliably in all material respects the financial position as of December 31, 20(XX) and the results of its financial and economic activities for the period from January 1 to December 31, 20(XX) . inclusive in accordance with the requirements of the legislation of the Russian Federation regarding the preparation of financial (accounting) statements (and/or indicate documents defining the requirements for the procedure for preparing financial (accounting) statements).

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

Without changing our opinion about the reliability of the financial (accounting) statements, we draw attention to the information set out in the notes to the financial (accounting) statements (point X), namely, that the legal proceedings between the organization “YYY” have not yet been completed ( defendant) and the tax authority (plaintiff) on the issue of the correct calculation of the tax base for income and value added taxes for the year 20(XX). The amount of the claim is XXX thousand rubles. Financial (accounting) statements do not provide for any reserves for the fulfillment of obligations that may arise as a result of a court decision not in favor of the YYY organization.

32. The inclusion of a compelling portion describing a going concern issue or a significant uncertainty is generally sufficient to enable the auditor to discharge his responsibilities in preparing the auditor's report. However, in some cases, for example, where there are a large number of uncertainties that are significant to the financial statements, the auditor may consider it appropriate to disclaim an opinion on their reliability rather than include a portion drawing attention to that aspect.

33. The auditor may also modify the auditor's report by including (after the opinion portion) a portion that draws attention to a matter that does not affect the financial statements.

(clause 33 as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

34. The auditor may not be able to express an unqualified opinion if at least one of the following circumstances exists and, in accordance with the auditor’s judgment, this circumstance has or may have a material effect on the reliability of the financial (accounting) statements:

a) there is a limitation on the scope of the auditor’s work;

b) there is a disagreement with management regarding:

the acceptability of the chosen accounting policy;

method of its application;

adequacy of information disclosure in financial (accounting) statements.

The circumstances specified in subparagraph (a) of this paragraph may lead to the expression of a qualified opinion or to a refusal to express an opinion.

The circumstances specified in subparagraph “b” of this paragraph may lead to the expression of a qualified or negative opinion.

35. A qualified opinion should be expressed when the auditor concludes that it is not possible to express an unqualified opinion, but the impact of a disagreement with management or a limitation on the scope of the audit is not sufficiently significant or profound to warrant an adverse opinion or disclaimer. opinions. A qualified opinion must contain the wording: “except for the influence of circumstances...” (indicate the circumstances to which the reservation applies).

36. A disclaimer of opinion occurs when the limitation in the scope of the audit is so significant and profound that the auditor is unable to obtain sufficient evidence and, therefore, is unable to express an opinion on the reliability of the financial statements.

37. An adverse opinion should be expressed only when the effect of a disagreement with management is so material to the financial statements that the auditor concludes that qualifying the auditor's report is not adequate to disclose the misleading or incomplete nature of financial (accounting) reporting.

38. If the auditor expresses an opinion other than an unqualified positive opinion, the auditor should clearly describe all reasons for this in the auditor's report and, if possible, quantify the possible effect on the financial statements. Typically, this information is presented in a separate paragraph preceding the statement of opinion or disclaimer of opinion, and may include a reference to more detailed information, if available, in the notes to the financial statements.

Circumstances that may lead to the expression of an opinion that is not unconditionally favorable

39. Limitations on the scope of the auditor's work may sometimes be imposed by the auditee (for example, if the terms of the audit engagement provide that the auditor cannot perform audit procedures that the auditor considers necessary). If the restriction provided for by the terms of the engagement is such that the auditor considers it necessary to disclaim an opinion, he usually will not accept the performance of such an engagement, except in cases where the performance of the engagement follows from the requirements of the legislation of the Russian Federation. In addition, the auditor should not be accepted for performing an audit assignment when such a restriction prevents the fulfillment of the auditor’s duties established by the legislation of the Russian Federation.

40. A limitation on the scope of the audit may be a consequence of circumstances (for example, if the timing of the appointment of the auditor prevents him from overseeing the inventory count). Limitation of the scope is also possible if, in the opinion of the auditor, the accounting documentation of the audited entity is missing or does not comply with the requirements of the legislation of the Russian Federation or if the auditor cannot carry out the audit procedures that he considers necessary. In these circumstances, the auditor must perform possible alternative procedures to obtain sufficient evidence.

41. If a limitation on the scope of the auditor's work requires a qualified opinion or disclaimer of opinion, the auditor's report should include a description of the limitation and possible adjustments to the financial statements that might be necessary if the limitation did not exist.

42. An example of an auditor’s report containing a qualified opinion due to space limitations:

balance sheet;

profit and loss statement;

appendices to the balance sheet and profit and loss account;

explanatory note.

We conducted an audit in accordance with:

Federal Law “On Auditing Activities”;

federal rules (standards) of auditing activities;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

internal rules (standards) of auditing activities (specify the accredited professional association);

rules (standards) of the auditor's audit activities;

regulatory acts of the body that regulates the activities of the audited entity.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

At the same time, we did not monitor the inventory of inventories as of December 31, 20(XX), since this date preceded the date of our engagement as auditors of the YYY organization.

In our opinion, other than adjustments (if any) that might have been necessary had we been able to verify inventory levels, the financial statements of YYY present fairly, in all material respects, the financial position as at 31 December 20(XX) and the results of its financial and economic activities for the period from January 1 to December 31, 20(XX) inclusive in accordance with the requirements of the legislation of the Russian Federation regarding the preparation of financial (accounting) statements (and/or indicate documents, defining the requirements for the procedure for preparing financial (accounting) statements).

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

43. An example of an auditor’s report in the part containing a disclaimer of opinion due to limitation of scope:

balance sheet;

profit and loss statement;

appendices to the balance sheet and profit and loss account;

explanatory note.

We conducted an audit in accordance with:

Federal Law “On Auditing Activities”;

federal rules (standards) of auditing activities;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

internal rules (standards) of auditing activities (specify the accredited professional association);

rules (standards) of the auditor's audit activities;

regulatory acts of the body that regulates the activities of the audited entity.

The paragraph has been deleted. – Decree of the Government of the Russian Federation dated October 7, 2004 No. 532.

(The portion describing the scope of the audit should either be omitted or modified to suit the specific circumstances.)

We were unable to attend the inventory count due to restrictions imposed by the YYY organization (briefly indicate the circumstances).

We also did not receive sufficient evidence (briefly state reasons) regarding:

accounts receivable;

proceeds from the sale of goods, works, services;

accounts payable;

retained earnings (etc.).

Due to the significance of these circumstances, we are not able to express an opinion on the reliability of the financial (accounting) statements of the YYY organization and the compliance of the accounting procedure with the legislation of the Russian Federation.”

44. The auditor may have disagreements with the management of the audited entity on issues such as the appropriateness of the chosen accounting policy, the method of its application, or the adequacy of disclosure of information in the financial (accounting) statements. If such disagreements are material to the financial (accounting) statements, the auditor should express a qualified or adverse opinion.

45. An example of an auditor's report containing a qualified opinion due to a disagreement regarding accounting policies and inappropriate accounting methods:

balance sheet;

profit and loss statement;

appendices to the balance sheet and profit and loss account;

explanatory note.

We conducted an audit in accordance with:

Federal Law “On Auditing Activities”;

federal rules (standards) of auditing activities;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

internal rules (standards) of auditing activities (specify the accredited professional association);

rules (standards) of the auditor's audit activities;

regulatory acts of the body that regulates the activities of the audited entity.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

As a result of the audit, we identified violations of the current procedure for preparing financial (accounting) statements and maintaining accounting records, namely: the cost of production equipment in the amount of XXX thousand rubles is not reflected in the composition of non-current assets on line 190 of the balance sheet, and in the composition of current assets in the amount of line 220 “Value added tax on acquired assets” does not reflect the amount of value added tax attributable to the specified equipment in the amount of XXX thousand rubles. Accordingly, line 621 “Suppliers and contractors” does not reflect accounts payable to the supplier in the amount of XXX thousand rubles.

In our opinion, with the exception of the impact on the financial (accounting) statements of the circumstances set out in the previous part, the financial (accounting) statements of the organization “YYY” reflect reliably in all material respects the financial position as of December 31, 20(XX) and the results of its financial - economic activities for the period from January 1 to December 31, 20(XX) inclusive in accordance with the requirements of the legislation of the Russian Federation regarding the preparation of financial (accounting) statements (and/or indicate documents defining the requirements for the procedure for preparing financial (accounting) statements ) reporting)".

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

46. An example of an auditor’s report containing a qualified opinion due to disagreement regarding the disclosure of information:

balance sheet;

profit and loss statement;

appendices to the balance sheet and profit and loss account;

explanatory note.

We conducted an audit in accordance with:

Federal Law “On Auditing Activities”;

federal rules (standards) of auditing activities;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

internal rules (standards) of auditing activities (specify the accredited professional association);

rules (standards) of the auditor's audit activities;

regulatory acts of the body that regulates the activities of the audited entity.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

The financial (accounting) statements of the organization “YYY” do not disclose essential information:

on securing obligations and payments in the amount of XXX thousand rubles;

on leased fixed assets in the amount of XXX thousand rubles.

In our opinion, with the exception of the circumstances set out in the previous part, the financial (accounting) statements of the organization “YYY” reflect reliably in all material respects the financial position as of December 31, 20(XX) and the results of its financial and economic activities for the period from 1 January to December 31, 20(XX) inclusive in accordance with the requirements of the legislation of the Russian Federation regarding the preparation of financial (accounting) statements (and/or indicate documents defining the requirements for the procedure for preparing financial (accounting) statements).”

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

47. An example of an auditor’s report in the part containing a negative opinion due to a disagreement regarding accounting policies or the adequacy of the presentation of financial (accounting) statements:

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

balance sheet;

profit and loss statement;

appendices to the balance sheet and profit and loss account;

explanatory note.

We conducted an audit in accordance with:

Federal Law “On Auditing Activities”;

federal rules (standards) of auditing activities;

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

internal rules (standards) of auditing activities;

rules (standards) of the auditor's audit activities;

regulatory acts of the body that regulates the activities of the audited entity.

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

(Description of disagreements).

In our opinion, due to the influence of these circumstances, the financial (accounting) statements of the organization “YYY” do not accurately reflect the financial position as of December 31, 20(XX) and the results of its financial and economic activities for the period from January 1 to December 31, 20(XX) . inclusive and, thus, cannot be recognized as complying with the requirements of the legislation of the Russian Federation regarding the preparation of financial (accounting) statements (and/or indicate documents defining the requirements for the procedure for preparing financial (accounting) statements).”

(as amended by Decree of the Government of the Russian Federation dated October 7, 2004 No. 532)

RULE (STANDARD) No. 7. QUALITY CONTROL OF PERFORMANCE OF AUDIT TASKS

Introduction

1. This federal rule (standard) of auditing activities, developed taking into account international auditing standards, establishes uniform requirements for quality control of the performance of audit assignments.

2. Audit team members:

a) shall comply with the quality control procedures applicable to the specific audit engagement;

b) must provide the audit organization with relevant information to ensure the effective functioning of the quality control system in terms of compliance with the principle of independence;

c) can rely on the principles and procedures for quality control established in the audit organization (for example, in relation to the skills and professional competence of employees - on the principles and procedures of hiring employees and continuous professional training, in relation to independence - on the principles and procedures for collecting and reporting relevant information on independence, in relation to maintaining relationships with clients - on the principles and procedures governing the procedure for resolving the issue of accepting a new client for service or continuing cooperation with existing clients, in relation to compliance with regulatory legal acts of the Russian Federation and professional standards - on monitoring).

Definitions

3. The concepts used in this rule (standard) mean the following:

a) “leader of the audit” – an authorized person of the audit organization who is responsible for performing the audit assignment and preparing the audit report;

b) “engagement quality review” - a process designed to objectively evaluate the significant judgments and conclusions of the audit team based on the audit results before issuing the audit report;

c) “engagement quality reviewer” means a senior member of the audit firm or other authorized person of the audit firm, a qualified third party, or a group of such third parties who have sufficient appropriate experience and authority to objectively evaluate significant judgments before issuing an audit report. and the conclusions of the audit team formed based on the audit results;

d) “audit team” - employees performing the audit task, including all experts involved by the audit organization to perform this task;

e) “socially significant economic entity” - an open joint-stock company, another organization whose securities are admitted to trading on stock exchanges and (or) organizers of trading on the securities market (for example, a credit or insurance organization, investment fund, etc.) ;

f) “monitoring” - the process of analyzing and evaluating the audit quality control system of an audit organization, including periodic random inspection of completed audit assignments, carried out with the aim of achieving reasonable confidence that the quality control system is functioning effectively;

g) “network organization” - an economic entity that has common control, ownership or management with another organization and which can be recognized on a reasonable basis by any third party with relevant information as part of a national or international network;

h) “managerial employee of an audit organization” - a person who has the authority to enter into agreements for the provision of audit and audit-related services on behalf of the audit organization;

i) “employees” – management employees of the audit organization and other specialists involved in the audit activities of the audit organization and the provision of audit-related services;

j) “professional standards” – federal rules (standards) of auditing activities, internal rules (standards) of auditing activities in force in professional audit associations, rules (standards) of auditing activities of audit organizations, as well as the Code of Ethics for Auditors of Russia;

k) “specialists” – employees of the audit organization, with the exception of management employees;

l) “third party competent person” - a person who is not an employee of the audit organization and has professional competence sufficient to direct the audit (for example, an executive officer of another audit organization or a representative (with relevant experience) of a professional audit association whose members may perform assignments on audit).

Responsibilities of the head of the audit to ensure the quality of the audit

4. The audit leader is responsible for the quality of performance of each audit engagement over which he or she leads.

5. The audit leader must demonstrate high quality work to audit team members at all stages of the audit through his own actions or through appropriate instructions to audit team members. Such actions and instructions should emphasize:

a) the importance of compliance with regulatory legal acts of the Russian Federation and professional standards, applied principles and procedures for quality control of the audit organization, as well as issuing an audit report that meets the conditions of a specific engagement;

b) ensuring quality, which is of paramount importance.

Ethical requirements

6. The audit leader should monitor compliance with ethical requirements by audit team members.

7. The ethical requirements applicable to audits are established by the Code of Ethics for Auditors of Russia and include:

a) honesty;

b) objectivity;

c) professional competence and due care;

d) confidentiality;

e) professional behavior;

e) independence.

8. The audit leader should pay particular attention to the compliance of all members of the audit team with ethical requirements throughout the audit. If the engagement partner becomes aware of non-compliance with ethical requirements by members of the audit team, the engagement partner should consult with appropriate members of the firm's workforce and ensure that appropriate disciplinary action is taken against those who fail to comply with ethical requirements.

9. The audit leader and other members of the audit team should document the problems identified and how they were resolved.

10. The audit partner should formulate a conclusion on compliance with the independence requirements applicable to a specific audit engagement and should:

a) obtain information from the audit organization and, if appropriate, from network organizations in order to identify and assess circumstances and relationships that create threats to independence;

b) evaluate information about identified violations of independence procedures, if any, and determine whether they pose a threat to independence for a particular audit engagement;

c) take appropriate measures to eliminate threats to independence or reduce them to an acceptably low level, and promptly report to the audit organization any such cases so that the audit organization can take appropriate action;

d) document the conclusions regarding independence, as well as all relevant reasoning supporting these conclusions.

11. The engagement partner may identify a threat to independence in relation to a particular audit engagement that safeguards have failed to eliminate or reduce to an acceptably low level. In such a case, the engagement partner should consult with appropriate members of the firm's workforce to ensure that appropriate safeguards are in place to ensure that threats to independence are eliminated or reduced to an acceptably low level, even to the point of abandonment of the engagement. All reasoning and conclusions regarding this issue must be documented.

The decision to accept a new client or continue cooperation with a client on a specific audit assignment

12. The engagement partner must ensure that all necessary procedures in relation to the decision to accept a new client or continue to engage with a client on a particular audit engagement have been followed and that appropriate conclusions have been reached and documented.

13. The decision to accept a new client or continue cooperation with the client may be initiated by the head of the audit or another person.

14. The decision to accept a new client or continue cooperation with a client on a specific audit assignment provides for:

assessment of the integrity of the main owners of the potential audited entity, its management and representatives of the owner;

assessment of the professional competence of the audit team members required to perform a specific audit engagement, as well as their availability of the necessary time and resources, the ability of the audit organization and the audit team members to comply with ethical requirements.

If questions arise in assessing any of these conditions, audit team members should seek advice from audit firm management or legal counsel and document how the questions will be resolved.

15. The decision to continue cooperation with the client is preceded by an assessment of significant issues that arose during the current or previous audit assignment, as well as the impact of their consequences on the continuation of cooperation. For example, the client could begin to expand its activities in an area in which the employees of the audit organization do not have the necessary experience and knowledge.

16. The head of the audit, if he receives information that, if previously known, would lead to refusal to perform the audit assignment, must promptly report this information to the audit organization to ensure the adoption of a collegial decision.

Formation of the audit team

17. The audit leader must ensure that the audit team members have the appropriate skills, professional competence, authority and time necessary to perform the audit engagement in accordance with Russian regulations and professional standards.

18. Relevant skills and professional competence mean:

a) understanding of the audit engagement and practical experience in performing engagements of a similar nature and complexity, acquired through training and previous work;

b) knowledge and understanding of regulatory legal acts of the Russian Federation and professional standards;

c) knowledge in the field of information technology;

d) knowledge of the industries in which the client operates;

e) the ability to form professional judgment;

f) understanding of the principles and procedures of quality control established in the audit organization.

Completing the task

19. The head of the audit is responsible for the distribution of work, supervision and execution of the audit assignment in accordance with the regulatory legal acts of the Russian Federation and professional standards, as well as for issuing an audit report that meets the terms of the assignment.

20. The engagement partner directs the audit engagement by communicating to the engagement team members their duties and responsibilities, the nature of the client's activities, risk issues, problems that may arise, and the detailed approach to completing the engagement.

It is the responsibility of audit team members to maintain objectivity and exercise due professional skepticism, and to perform assigned work in a manner consistent with ethical requirements. Engagement team members may seek clarification from more experienced members while maintaining appropriate professional communication within the audit team.

21. Audit team members should understand the objectives and objectives of the audit engagement they are performing.

22. The audit supervisor's oversight of the engagement includes:

a) monitoring the progress of the audit engagement;

b) assessing the skills and professional competence of each member of the audit team, whether he has sufficient time to complete the audit engagement, understanding of the instructions given to him, and whether his work is consistent with the planned approach;

c) resolving significant issues that arise during the implementation of the audit engagement, assessing their significance and, if necessary, appropriately changing the planned approach;

d) identifying issues that require clarification or consultation with more experienced members of the audit team during the audit.

23. Supervisory functions involve checking the work of less experienced audit team members by more experienced ones, including the audit manager. Supervisors evaluate:

a) whether the work performed complies with the regulatory legal acts of the Russian Federation and professional standards;

b) whether significant issues arose that required further consideration;

c) whether consultations were carried out and whether the conclusions of the consultations, provided they were carried out, were documented and applied in practice;

d) whether there is a need to review the nature, time frame and scope of work performed;

e) to what extent the work performed confirms the findings and is documented;

f) the sufficiency and appropriateness of the audit evidence obtained on which the audit report is based;

g) whether the objectives of the audit procedures were achieved.

24. Before issuing the audit report, the audit partner should review the auditor's working papers and discuss the work with members of the audit team to ensure that the audit evidence obtained is sufficient and appropriate to support the conclusions reached.

25. The audit director should promptly supervise the progress of each stage of the audit. This allows significant issues to be resolved in a timely manner before the audit report is issued. The engagement partner's oversight should cover the most significant judgments, particularly those that relate to complex or controversial matters identified during the audit, as well as significant risks and other areas that the engagement partner considers important. The audit manager does not need to review all of the auditor's working papers, but he should document when and which working papers were reviewed. Answers to questions from the head of the audit that arise during the implementation of the specified supervision must be reasoned.

26. If a newly appointed audit manager takes over the management of the audit during its implementation, the audit manager should check what work has already been completed as of the date of his appointment. Supervisory procedures of this nature should be sufficient to enable the designated audit manager to be satisfied that the work performed as of the date of the procedures was planned and performed in accordance with the regulations of the Russian Federation and professional standards.

27. If more than one audit leader is involved in an audit engagement, the audit team members should have a clear understanding of the roles and responsibilities of each audit leader.

28. The audit manager should:

a) be responsible for arranging for audit team members to receive advice on complex and controversial issues;

b) ensure that members of the audit team have the opportunity, during the performance of the audit engagement, to receive appropriate explanations and advice both from other, more experienced members of the audit team or persons with relevant knowledge, authority and experience working in the audit organization, and from third parties competent persons;

c) ensure that the nature and scope of consultations, as well as the conclusions drawn from such consultations, are documented and agreed upon with the persons providing the consultation;

d) ensure that the conclusions drawn from the consultations are applied in practice.

29. In order for consultations with competent persons to be effective, it is necessary that these persons be provided with all the background information on the basis of which they could make appropriate recommendations on methodological, ethical and other issues. If necessary, members of the audit team may seek advice from persons with appropriate knowledge, authority and experience within and outside the audit firm. The conclusions drawn from such consultations should be documented and put into practice.

30. The audit organization may seek advice from third-party competent persons, in particular other audit organizations and professional audit associations, as well as other organizations that provide relevant services in the field of audit quality control and audit-related services.

31. Documentation relating to consultations with a competent person on complex or controversial issues must be agreed upon by the person seeking the consultation and the person providing the consultation. The documentation must be sufficiently complete and detailed to clearly disclose the subject of the consultation and the results of the consultation, including all decisions made, the basis for their adoption and how they were applied in practice.

32. If a difference of opinion arises between the engagement team members and the person providing advice, or between the engagement partner and the engagement quality reviewer, the engagement team members should follow the policies and procedures for resolving disagreements established by in an audit organization.

33. The audit partner informs audit team members that they may report differences of opinion to him or other senior members of the audit firm.

34. When conducting an audit of the financial (accounting) statements of socially significant business entities, the head of the audit must:

a) ensure that a person is appointed to review the quality of the assignment;

b) discuss significant issues arising during the performance of the audit engagement, including issues arising during the engagement quality review, with the person performing the engagement quality review;

c) not issue an audit report until the engagement quality review has been completed.

35. In relation to other audit assignments for which a review of the quality of assignments is performed, the head of the audit must follow the provisions provided for in subparagraphs “a” - “c” of paragraph 34 of this rule (standard).

36. If a pre-engagement quality review is not determined to be necessary, the engagement partner should systematically evaluate changing circumstances that may require such a review.

37. The engagement quality review includes an objective assessment of the significant judgments made by the audit team members and the conclusions that form the basis of the audit report.

38. A review of the quality of the engagement usually includes a discussion of the progress of the engagement with the head of the audit, an analysis of the financial (accounting) statements and the audit report, in particular its compliance with the terms of the specific engagement. The review also includes a selective review of the auditor's working papers related to significant judgments and conclusions made by the audit team. The extent of this review depends on the complexity of the engagement and the risk that the auditor's report may not be consistent with the terms of the engagement. Reviewing the quality of the engagement does not reduce the responsibility of the audit manager.

39. A review check of the quality of performance of tasks for the audit of financial (accounting) statements of socially significant business entities includes:

a) the audit team’s assessment of the audit firm’s independence in the context of the specific audit engagement;

b) an assessment of significant risks identified during the performance of the engagement (in accordance with Rule (Standard) No. 8), and the procedures performed in response to the risks assessed by the auditor, including the audit team's assessment of the risk of errors and fraud and the audit team's performance of procedures in response at this risk;

c) judgments regarding the level of materiality and significant risks;

d) obtaining appropriate consultations on complex or controversial issues or when there are differences of opinion, as well as conclusions drawn from the results of these consultations;

e) the significance of corrected and uncorrected misstatements identified during the audit;

f) circumstances, information about which should be brought to the attention of the management of the audited entity, representatives of the owner or other persons;

g) compliance of the auditor’s working documents selected for analysis with the work performed, which served as the basis for the formation of significant judgments and conclusions drawn;

h) the proper nature of the issued audit report.

40. Review checks of the quality of performance of tasks other than the audit of financial (accounting) statements of socially significant business entities may, depending on the circumstances, cover in full or in part all the provisions specified in paragraph 39 of this rule (standard).

Monitoring

41. The audit manager should evaluate the results of monitoring as reflected in the latest information disseminated by the audit organization and, if applicable, other audit organizations that are members of network audit organizations.

The engagement partner evaluates the extent to which the deficiencies reflected in this information could affect the audit engagement and the extent to which the firm's remedial measures are sufficient in the context of the audit engagement.

42. Deficiencies in the quality control system for completing assignments identified during the monitoring process do not mean that a specific audit assignment was not performed in accordance with regulatory legal acts in the field of auditing and federal rules (standards) of auditing activities.

RULE (STANDARD) No. 8. UNDERSTANDING THE ACTIVITIES OF THE AUDITED ENTITY, THE ENVIRONMENT IN WHICH IT OPERATES, AND ASSESSING THE RISKS OF MATERIAL DISTORTION IN THE AUDITED FINANCIAL (ACCOUNTING) STATEMENTS

Introduction

1. This federal auditing rule (standard), developed taking into account international auditing standards, establishes uniform requirements for understanding the activities of the audited entity and the environment in which it is carried out, including the internal control system and assessment of the risks of material misstatement of the audited financial (accounting) statements.

2. The auditor must examine the activities of the audited entity and the environment in which it is carried out, including the internal control system, to an extent sufficient to identify and assess the risks of material misstatement of the financial (accounting) statements resulting from errors or dishonest actions of management and (or) employees of the audited entity, as well as sufficient to plan and perform further audit procedures.

3. Understanding the activities of the audited entity and the environment in which they are carried out is of great importance when conducting an audit. In particular, such an understanding provides a basis for planning the audit and expressing the auditor's professional judgment in assessing the risks of material misstatement of the financial statements and responding to those risks during the audit process, such as:

a) establishing the level of materiality and assessing whether the materiality judgment remains unchanged throughout the audit;

b) consideration of the appropriateness of the choice and procedure for applying accounting policies and the adequacy of information disclosure in financial (accounting) statements;

c) identifying areas of the entity that require special attention by the auditor, such as related party transactions, the appropriateness of management's assumptions about going concern, or examining the objectives of business operations;

d) determining the expected economic indicators of the audited entity for use when performing analytical procedures;

e) planning and performing further audit procedures in order to reduce audit risk to an acceptably low level;

f) assessing the sufficiency and appropriateness of the audit evidence obtained, such as the appropriateness of assumptions and oral and written statements and explanations of management of the audited entity.

4. The auditor uses professional judgment to determine the required level of knowledge about the activities of the audited entity and its environment, including the system of internal control. The auditor's primary task is to determine whether the understanding achieved is sufficient to assess the risks of material misstatement of the financial (accounting) statements, as well as to plan and perform further audit procedures. The amount of knowledge of the audited entity's activities required by the auditor is usually lower than the amount of knowledge possessed by the audited entity's management.

Risk assessment procedures and sources of information about the activities of the audited entity and the environment in which they are carried out, including the internal control system

5. Acquiring knowledge about the activities of the audited entity and the environment in which it is carried out, including the internal control system, is a continuous dynamic process of collecting, updating and analyzing information at all stages of the audit. Audit procedures performed to acquire knowledge about the activities of the audited entity are risk assessment procedures because certain information obtained by performing such procedures can be used by the auditor as audit evidence in assessing the risks of material misstatement of the financial (accounting) statements. In addition, by performing risk assessment procedures, the auditor can obtain audit evidence regarding groups of similar business transactions, account balances and disclosures and related financial reporting assertions, and the operating effectiveness of controls, even if Such audit procedures were not specifically designed as substantive procedures or tests of controls. The auditor may also schedule substantive procedures or tests of controls to be performed in parallel with the risk assessment procedures if he considers this to be an effective approach.

6. The auditor should perform the following risk assessment procedures in order to become familiar with the activities of the audited entity and the environment in which they are carried out, including the internal control system:

inquiries addressed to management or other employees of the audited entity;

analytical procedures;

observation and inspection.

The auditor is not required to perform all specified risk assessment procedures in relation to each issue specified in paragraph 19 of this rule (standard). However, all risk assessment procedures are performed by the auditor in the course of achieving the required amount of knowledge about the activities of the audited entity.

7. In addition to the risk assessment procedures provided for in paragraph 6 of this rule (standard), the auditor performs other audit procedures to obtain information that may be useful in identifying the risks of material misstatement. For example, the auditor may consider the advisability of making inquiries to organizations that provide legal or valuation services to the audited entity. Reviewing information obtained from external sources, in particular analytical reports, reports prepared by banks or statistical authorities, economic and professional newspapers and magazines or official legal and financial publications, can be useful in becoming familiar with the activities of the auditee.

8. Although most of the information that the auditor obtains through inquiries can be obtained from the management of the audited entity and those responsible for the preparation of financial (accounting) statements, inquiries sent to the employees of the audited entity, in particular production personnel, internal auditors and other personnel with different administrative functions may be helpful in providing the auditor with different perspectives when identifying risks of material misstatement.

In identifying the employees of the entity to whom inquiries may be made, and the number of such inquiries, the auditor considers what type of information may be obtained to help the auditor identify risks of material misstatement.

Responses to inquiries made to the owner's representatives can help the auditor understand the environment in which the financial statements are prepared.

Responses to inquiries made to internal auditors may be relevant to their activities relating to the organization and operation of the entity's internal control system and provide insight into how satisfactorily the auditee's management has responded to the results of those activities.

Responding to inquiries from employees involved in initiating, executing, or accounting for complex or unusual transactions can assist the auditor in assessing the appropriateness of the entity's selection and application of certain accounting policies.

Responses to inquiries sent to the entity's legal team may relate to issues such as litigation and claims in which the entity is involved, the entity's compliance with regulations, knowledge of fraud or circumstances indicating the possibility of fraud , guarantees, obligations, agreements (in particular on joint activities) with counterparties and the content of contractual terms.

Responses to inquiries directed to marketing or sales personnel may address issues of changes in the auditee's marketing strategies, sales trends, or contractual agreements with customers.

9. Analytical procedures can help identify unusual transactions or events, as well as measures, ratios and trends that may indicate possible problems of financial reporting and auditing significance.

When performing analytical procedures as risk assessment procedures, the auditor approximates expected performance indicators and likely relationships. If a comparison of these expected performance measures with recorded amounts or ratios calculated on the basis of recorded amounts results in unusual or unexpected relationships, the auditor considers those results in identifying the risks of material misstatement.

If such analytical procedures use data that are aggregated at a sufficiently high level, the results of such analytical procedures can only serve as a primary indicator of the presence of a material misstatement. The auditor considers the results of such analytical procedures along with other information collected in identifying the risks of material misstatement.

10. Observation and inspection can become both the basis for sending inquiries to management and other employees of the audited entity, and a source of information about the activities of the audited entity and the environment in which they are carried out. Such audit procedures typically include:

a) monitoring the various areas of activity and operations of the audited entity;

b) inspection of documents (such as business plans and development strategies), records and regulations of the internal control system;

c) examination of reports prepared by management (such as quarterly management reports and interim financial (accounting) statements), reports of owner representatives (for example, minutes of meetings of the board of directors);

d) visiting administrative buildings and production premises of the audited entity;

e) tracking the reflection of business transactions in information systems that generate data for financial (accounting) reporting (end-to-end checks).

11. If the auditor intends to use information about the entity's activities and environment collected in previous periods, the auditor should determine whether changes have occurred that may affect the relevance of such information for the current audit. In recurring audits, the experience gained from the previous audit contributes to a better understanding of the auditee's performance.

In particular, audit procedures performed in previous audits usually provide audit evidence about the entity's organizational structure and controls, as well as information about past misstatements and whether they were corrected in a timely manner. All of this assists the auditor in assessing the risks of material misstatement during the ongoing audit. However, such information may become irrelevant for the ongoing audit due to changes in the auditee's activities and environment. Therefore, the auditor should make appropriate inquiries and perform other appropriate audit procedures, including walk-through tests, to identify possible changes that could affect the relevance of such information.

12. The auditor also takes into account other information if it is relevant for the current audit, in particular that which was collected when deciding whether to enter into an agreement with the audited entity or to continue cooperation with it, or information obtained from experience in providing other audit services for of the audited entity, in particular the review of interim financial information.

13. Members of the audit team should discuss the susceptibility of the auditee's financial statements to material misstatement.

14. The purpose of this discussion is for the engagement team members to develop a greater understanding of the potential for material misstatement of the financial statements, due to fraud or error, that may exist in certain areas that are the subject of their engagements, and to understand how the results The audit procedures performed by audit team members may affect other aspects of the audit, including decisions about the nature, timing and extent of further audit procedures.

16. The decision of which member of the audit team to involve in a discussion of the susceptibility of the financial (accounting) statements of the audited entity to material misstatements, how, where and in what form to conduct such a discussion is a matter of professional judgment. The discussion usually involves key members of the engagement team because it is not necessary for all engagement team members to have a comprehensive understanding of all aspects of the audit. The form of discussion depends on the functions performed by the audit team members, their experience and information needs.

For example, in an audit involving multiple audit subjects, several discussions may take place, each of which will include leading members of the audit teams of each critical subject to be audited.

When planning discussions, you should decide whether to invite experts included in the audit team to participate. The audit manager may decide that including an expert with knowledge of information systems or other skills as a participant in the discussion is necessary.

17. In accordance with Rule (Standard) No. 1, the auditor must exercise professional skepticism during the planning and conduct of the audit. Discussions among engagement team members should emphasize the need to exercise professional skepticism throughout the audit engagement so as not to miss information or other circumstances that indicate the possibility of material misstatement due to fraud or error.

18. It is possible to conduct other discussions that facilitate the exchange of information between members of the audit team regarding the susceptibility of the financial (accounting) statements of the audited entity to material misstatements. The purpose here is for engagement team members to communicate and exchange information obtained during the audit that may have an impact both on the assessment of the risks of material misstatement due to fraud or error and on the audit procedures performed to address the risks.

Understanding the activities of the audited entity and the environment in which they occur, including the internal control system

19. The auditor’s understanding of the activities of the entity being audited and the environment in which they are carried out lies in understanding the following problems:

industry, legal and other external factors affecting the activities of the audited entity, including the applied methods of accounting and preparation of financial (accounting) statements of the audited entity;

the nature of the entity's activities, including the selection and application of accounting policies;

goals and strategic plans of the audited entity, associated risks of economic activity, indicating a possible material misstatement of the financial (accounting) statements;

main performance indicators of the audited entity and trends in their changes;

internal control system.

Examples of problems that the auditor may consider in the process of becoming familiar with the activities of the audited entity and the environment in which it is carried out are given in Appendix No. 1. Elements of the internal control system are given in Appendix No. 2.

20. The nature, timing and scope of risk assessment procedures performed depend on the scale and complexity of the audited entity’s activities and the auditor’s experience working with the audited entity. In addition, identifying significant changes in any of these matters compared to prior periods is particularly important in order to achieve a sufficient understanding of the entity's activities to identify and assess the risks of material misstatement.

21. The auditor should become familiar with the relevant industry, legal and other external factors affecting the activities of the entity being audited, including the accounting methods used and the preparation of financial (accounting) statements. These factors include the following industry specifics:

a) competition in the industry;

b) relationships with suppliers and customers;

c) changes in production technology;

d) environmental requirements affecting the industry and the audited entity;

e) applied methods of accounting and preparation of financial (accounting) statements;

f) requirements of regulatory legal acts, including those regulating the scope of activity of the audited entity;

g) the prevailing general economic conditions.

22. The industry in which the audited entity operates may have specific risks of possible material misstatement associated with the very nature of the activity or the framework that governs it. In such cases, the audit team should include persons with appropriate and sufficient knowledge and experience.

23. Regulatory legal acts establish the applicable methods of accounting and preparation of financial (accounting) statements, which the management of the audited entity must use in the preparation of financial (accounting) statements and which guide the auditor. At the same time, both the auditor and the audited entity must understand these methods.

24. The auditor must become familiar with the specifics of the activities of the entity being audited. The characteristics of the audited entity's activities are determined by the business operations carried out, the form of ownership and method of management, the type of financial investments that it makes and intends to make, its structure and source of financing. Understanding the characteristics of the activities of the audited entity allows the auditor to understand groups of similar transactions, balances on accounting accounts and disclosure of information in financial (accounting) statements.

25. The audited entity may have a complex structure, including subsidiaries or geographically distant structural units, which complicates the process of consolidating financial (accounting) statements and may cause risks of material misstatement of information.

26. Understanding who the owners of the entity being audited and the relationships between owners and others is important in determining whether related party transactions have been identified and accounted for appropriately.

27. The auditor needs to have knowledge of the accounting policies selected and applied by the audited entity, the auditor must also determine whether they are relevant to the activities of the audited entity and are consistent with the methods of accounting and preparation of financial (accounting) statements. The knowledge required by the auditor to perform the audit engagement also includes knowledge of:

the methods the entity uses to account for complex or unusual transactions;

the consequences of accounting for business transactions in relation to which there is uncertainty or ambiguity due to inconsistency of regulatory requirements or their absence;

changes in the accounting policies of the audited entity.

The auditor should also identify cases when the audited entity applies the requirements of new regulatory legal acts governing accounting for the first time. If there have been changes in the accounting policies of the entity being audited, the auditor must consider the reasons for the changes and also determine whether the changes are appropriate and consistent with established accounting practices and the preparation of financial statements.

28. Financial (accounting) statements prepared in accordance with the applicable methods of accounting and preparation of financial (accounting) statements must include proper disclosure of material information. This information concerns the form, presentation and content of the financial statements, notes, including terminology used, level of detail, classification of items in the statements and the basis for the figures presented. The auditor considers whether the entity being audited has adequately disclosed any issue in light of the circumstances and facts of which the auditor became aware at the time of the audit.

29. The auditor must have knowledge about the goals and strategic plans of the audited entity and the associated risks of business activities, which may lead to a material distortion of the financial (accounting) statements. The activities of the audited entity are subject to the influence of industry, legal and other internal and external factors. Under the influence of these factors, the management of the audited entity or representatives of the owner determine goals that can be prepared in the form of a general plan of action for the audited entity. Strategic plans include the approaches by which management intends to achieve its goals. Business risks are the result of significant conditions, events, circumstances, acts or omissions that could adversely affect the entity's ability to achieve its objectives and implement its strategies, or the result of the selection of inappropriate objectives and strategies. The activities of the audited entity also undergo changes under the influence of changes in the external environment and, accordingly, strategic plans and goals change over time.

30. Business risk is a broader concept than the risk of material misstatement of financial (accounting) statements. Business risk may arise as a result of any changes or difficulties encountered in the activity, while at the same time, failure to recognize the need to make changes in activity can also lead to risk. Changes in business may result, among other things, from the development of a new product that may be unsuccessful, unpredictable market reactions even if a successful product has been developed, and omissions that create liabilities and reputational risk.

End of introductory fragment.

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The given introductory fragment of the book Auditing Standards. 34 Federal Rules. Text with changes and additions for 2009 (team of authors) provided by our book partner -

Auditing standards are divided into international and national. developed by the International Federation of Accountants (IFAC). The preface to ISAs states that they should only apply to material matters, suggesting that national regulations governing the audit of financial or other information in each individual country may be used. In this regard, it is advisable to develop national standards for auditing and related services to more fully take into account the characteristics of national systems of legislation, taxation, accounting and other aspects of the financial and economic activities of organizations.

In the preface to the International Standards on Auditing and Related Services, it is noted that IFAC member countries can apply ISAs as their national standards. To this end, the Committee on International Auditing Practices (CIAP) has prepared the text of a statement, which can be the basis for determining the legal validity of the adopted standards and the possibility of their use in a particular country.

There are three options for using ISAs and national standards. The first option involves the use of only ISA. The second is the creation and use of national auditing standards. And finally, the third, so-called combined option involves both the development of national standards (for main areas) and the use of international standards (for general problems).

In the field of auditing, Russia has chosen the second option, associated with the development of a full range of national standards. In accordance with Art. 7 of the Federal Law of December 30, 2008 N 307-FZ “On Auditing Activities”, national standards are divided into two groups: federal and standards of a self-regulatory organization of auditors.

Federal rules (standards) of auditing activities determine the requirements for the procedure for carrying out auditing activities, and also regulate other issues contained in Law N 307-FZ. They are developed in accordance with ISAs and are mandatory for audit organizations, individual auditors, as well as self-regulatory organizations of auditors.

The standards of the self-regulatory organization of auditors establish requirements for audit procedures that are additional to the requirements of federal standards, if this is due to the specifics of conducting an audit or providing audit-related services. Such standards cannot contradict federal standards and should not create obstacles for audit organizations and individual auditors to carry out their professional activities. They are mandatory for audit organizations and auditors who are members of a self-regulatory association of auditors.

Auditing organizations and individual auditors have the right to develop for their needs regulations, instructions, and their own auditing standards, which cannot contradict federal auditing rules (standards). The requirements of the rules (standards) of auditing activities of audit organizations and individual auditors cannot be lower than the requirements of federal standards and internal rules (standards) of auditing activities of the self-regulatory audit association of which they are members.

Federal standards, of course, should play the leading role in organizing external audit, especially mandatory audit, in the Russian Federation. Currently, there are 34 such standards, one of which (N 15) has been canceled (more precisely, merged with Standard N 8). Thus, 33 federal auditing rules (standards) are in effect.

In terms of developing and improving federal standards for the near future, two main tasks can be formulated. The first task is to update current federal standards in connection with emerging changes in the economy, legal regulation, etc. The second task is the creation of new standards (approximately 7 - 10) to obtain a full range of federal standards.

A general drawback of the current system of federal standards is the lack of their internal classification into groups that would correspond to the purposes of performing audits and related services. The presence of such a classification would allow users (auditors, accountants, students) to easily navigate the purpose and use of standards. Note that the internal classification is available in the ISA, and was also present in 37 Russian standards of the first generation (see, for example, the Code of Ethics for Professional Accountants and International Auditing Standards, 2001. - M.: MTsRSBU, 2002).

Based on existing experience, the following classification of federal rules (standards) for auditing activities seems appropriate (see table).

Classification of current federal rules (standards) of auditing activities

N Rules (standard)	Name standard
Group 1. Basic principles
	Purpose and main audit principles financial (accounting) reporting	Introduction, purpose of audit, general principles audit, scope of audit, reasonable confidence, responsibility
Group 2. Responsibility of auditors
	Negotiation of conditions conducting an audit	Introduction, audit agreement services, recurring audit, change audit engagement, application Sample audit letter
	Auditor's responsibilities upon consideration errors and unscrupulous actions during audit	Introduction, mistakes and dishonesty actions; responsibility of representatives owner and management of the audited faces; auditor's responsibilities; audit procedures under circumstances indicating possible distortions financial (accounting) statements Impact of financial misstatements (accounting) statements for audit report, documentation risk factors and additional audit procedures, official management statements and clarifications, communication of information, inability auditor complete the audit engagement Appendix No. 1. Examples of risk factors, related to misstatements resulting from unfair practices
	Auditor's responsibilities upon consideration errors and unscrupulous actions during audit	1. Risk factors associated with distortions as a result (accounting) statements features of the auditee's management face and its influence on the control environment Risk factors related to the condition areas of activity of the audited entity Risk factors related to economic characteristics activity and financial stability 2. Risk factors of unscrupulous actions related to distortions in as a result of misappropriation assets Risk factors associated with exposure of assets to appropriation Risk factors associated with funds control Appendix No. 2. Examples of modification audit procedures as a reaction to assess risk factors associated with distortions as a result unfair practices 1. Professional skepticism 2. Distribution of responsibilities among audit team members 3. Accounting policies 4. Internal controls 5. Modification of character, temporary scope and scope of procedures 6. Features of procedures related to specific account balance accounting, a group of similar business transactions and background financial (accounting) preparation reporting 7. Measures to search for distortions in the result unfair preparation of financial (accounting) statements 8. Measures to search for distortions arising as a result of misappropriation of assets Appendix No. 3. Examples of circumstances, indicating possible dishonesty or mistake
	Accounting for Requirements regulatory legal acts of the Russian Federation during audit	Introduction; management responsibility audited entity for compliance regulatory legal acts of the Russian Federations; auditor review compliance with Russian legislation Federation by the audited entity; procedures, used in identifying facts non-compliance with regulations Russian Federation; message about non-compliance with regulations Russian Federation; refusal audit engagement Application. Examples of facts that may indicate non-compliance audited entity regulatory legal acts of the Russian Federation
Group 3. Planning and documenting the audit
	Documentation audit	Introduction, form and content of workers documents, confidentiality, ensuring the safety of workers documents and ownership of them
	Audit planning	Introduction, work planning, general audit plan, audit program, changes in the general plan and audit program
	Materiality in audit	Introduction, materiality, relationship between materiality and audit risk, materiality and audit risk when assessing audit evidence, impact assessment distortion
	Audit assessment risks and internal control, carried out audited entity	The standard includes the contents of the two earlier accepted Standards - No. 8 and No. 15. Uniform requirements have been established for understanding the activities of the audited entity and the environment in which it is carried out Risk assessment procedures and sources information about the activities of the auditee faces Assessment of material misstatement information Reporting information received via audit results, management audited entity and representatives owner Documentation information
	Applicability assumptions continuity activities audited entity	Introduction; factors influencing on going concern; actions planning and audit auditor application of the continuity assumption activities of the audited entity; additional audit procedures in if factors related to going concern assumptions audited entity; auditor's findings and audit report; signing or approval of financial (accounting) reporting much later than reporting dates
	Audit sample	Introduction; definitions used in this Rule (Standard) auditing activities; audit proof; taking into account the risk upon receipt audit evidence; selection elements to be tested in order to obtaining audit evidence; statistical and non-statistical sampling approaches, sampling design, sample size; selection population to be verified elements; conducting audits procedures; nature and cause of errors; extrapolation (propagation) of errors; evaluation of the results of checking elements in selected population Appendix No. 1. Examples of factors, collections for testing means internal control Appendix No. 2. Examples of factors, influencing the volume of selected totality for substantive verification Appendix No. 3. Characteristics of methods population selection
Group 4. Internal audit quality control
	Internal control audit quality	Introduction, software requirements audit quality during the audit checks; manager's responsibilities assurance audit quality of audit; ethical requirements; acceptance for service new client or continuation cooperation with the client on specific audit engagement; formation audit team; completing the task; monitoring
	Quality control audit services organizations	Introduction; management responsibilities audit organization for assurance quality of services provided by the audit organization; ethical requirements; accepting a new client or continuation of cooperation; personnel Job; completing the task; monitoring; documentation
Group 5. Audit evidence
	Audit proof	Introduction, sufficient proper audit evidence, procedures obtaining audit evidence
	Receipt audit evidence in specific cases	Introduction, presence of the auditor at conducting an inventory of material and inventory, disclosure information about court cases and claims disputes, assessment and disclosure information on long-term financial investments, disclosure of information on reportable financial segments (accounting) statements of the audited faces
	Receipt by the auditor confirming information from external sources	Introduction; connection between external procedures confirmations with risk assessment; prerequisites for preparing financial (accounting) statements in relation to which external confirmations; preparing a request for external confirmation; positive and negative external confirmations; wishes of the management of the audited entity; characteristics of the persons providing the answer upon request; external procedure confirmations; evaluation of results responses received; receiving external confirmations before the reporting date
	Audit Features estimated values	Introduction; features of calculating estimated values; audit procedures for audit of estimates; general and detailed review of procedures applied management of the audited entity; use of independent assessment; checking subsequent events; grade results of audit procedures
	Analytical procedures	Introduction, nature and purposes of analytical procedures, analytical procedures for audit planning, analytical procedures as a type of audit substantive verification procedures, analytical procedures as general financial review (accounting) reporting, reliability analytical procedures, actions auditor in case of deviation from expected patterns
Group 6. Using the work of third parties
	Usage work results another auditor	Introduction; appointment of the main auditor; procedures performed by the main auditor; cooperation between auditors; questions requiring consideration when compiling auditor's report; separation responsibility
	Review of work internal audit	Introduction, scope and objectives of internal audit, the relationship between internal audit and external auditor, understanding and preliminary assessment of internal audit, terms of interaction and coordination, performance assessment internal audit
	Usage auditor work results expert	Introduction, definition of need use of work results expert, competence and objectivity expert, amount of expert work, assessment results of the expert's work, link to results of the expert's work in the audit conclusion
Group 7. Findings and reports in the audit
	Audit conclusion on financial (accounting) reporting	Introduction; main elements of audit conclusions; audit report; modified auditor's report; circumstances that may lead to expression of an opinion that is not unconditionally positive
	Affiliates	Introduction, existence of related parties and disclosure of information about them, verification transactions with related parties, statement from the management of the audited entity, auditor's findings, auditor's report
	Events after reporting date	Introduction; events that occurred before the date signing the audit report; reflection of events that happened after date of signing the audit report, but before the date of provision to users financial (accounting) statements; reflection of events discovered after providing users with financial (accounting) statements; carrying out the issue of securities
	Features of the first audit of the auditee faces	Introduction, audit procedures for the first audit of the audited entity, features of the auditor's report when the first audit of the audited entity. Application. Sample fragment the final part of the audit conclusion, including a reservation in connection with non-participation of the auditor in the inventory inventories
	Message information, received from audit results, management the audited entity and his representatives owner	Introduction; proper recipients information; information that should communicate to management of the audited entity and representatives of its owner; deadlines reporting information to management the audited entity and its representatives owner; information reporting forms to the proper recipients; confidentiality; regulatory legal acts of the Russian Federation regarding provision of information by the auditor
	Statements and clarifications manuals audited entity	Introduction, management recognition the audited entity's responsibility for financial (accounting) statements audited entity, use of the audited entity as audit evidence, documentation management statements and clarifications audited entity, the auditor's actions when failure of the audited entity's management submit statements and explanations Application. Sample letter of representation
	Other information in documents, containing audited financial (accounting) reporting	Introduction, access to other information, review of other information, significant inconsistencies, material misrepresentation of facts, availability of other information after the date auditor's report
	Taking into account features audited entity, financial (accounting) whose reporting prepares specialized organization	Introduction; issues being considered auditor of the audited entity; conclusion auditor of a specialized organization
	Comparable data in financial (accounting) reporting	Introduction, related indicators, comparable financial (accounting) reporting Application. Examples of audit conclusions Example A. Auditor's report, para. 1 clause 9 of the Federal Rule (standard) N 26 Example B. Auditor's report, drawn up in the cases given in para. 2 clause 9 of the Federal Rule (standard) N 26 Example B. Auditor's report, drawn up in the cases given in clause 19 of the Federal Rule (standard) N 26 Example D. Auditor's report, drawn up in the cases given in clause 13 of the Federal Rule (standard) N 26 Example D. Auditor's report, drawn up in the cases given in pp. "b" clause 21 of the Federal Rule (standard) N 26
Group 8. Related audit services
	Basic principles federal rules (standards) audit activities, related to services that can be provided audit organizations and auditors	Introduction; basic principles of financial (accounting) statements; basic principles of audit and related audit services; confidence levels, provided by the auditor; audit; audit-related services, inappropriate use of name auditor Application. Comparative characteristics audit and audit-related services
	Performance agreed upon procedures regarding financial information	Introduction, the purpose of fulfilling the agreed upon agreed procedures regarding financial information, definition conditions for fulfillment of agreed procedures regarding financial information, procedures and evidence, preparing of report Application. Example of a factual report, noted during the implementation of the agreed procedures for verifying creditor debt
	Compilation financial information	Introduction, purpose of financial compilation information, general principles of implementation compilation of financial information, defining compilation conditions financial information, procedures, preparation of an implementation report compilation of financial information Application. Examples of compilation reports financial information 1. Financial Compilation Report (accounting) statements 2. Financial Compilation Report (accounting) statements with text, drawing attention to existing deviations from basic principles preparation of financial (accounting) reporting
	Review check financial (accounting) reporting	Introduction, general principles of implementation review, conditions for conducting review, procedures and evidence, preparation of conclusions on review results Appendix 1. Sample list procedures that can be carried out in during a figurative audit of financial (accounting) statements Appendix 2. Example of a conclusion on results of the review with expression of unconditional positive opinion Appendix 3. Examples of conclusions on the results of the review, containing an opinion that is not unconditionally positive
Group 9. Education and training
Standards are under development

Thus, we have formed 9 groups of standards.

First the group includes one standard and, in addition to the Federal Law “On Auditing”, is considered here the purpose and basic principles of the audit of accounting (financial) statements.

Second group includes three standards and is dedicated to auditors' liability and audit organizations.

Third the group contains 6 standards and is used in the daily work of auditors in terms of registration of procedures for planning and documenting audit activities. Within this group, it is advisable for self-regulatory audit associations to develop internal standards for their members. Such standards should contain various tables, document forms, and brief instructions for planning and documentation work. They will be especially useful for novice auditors.

Fourth the group includes two standards and is devoted to issues quality of audit assignments and quality of services the audit organizations themselves.

Fifth the group contains five standards devoted to the most important aspects of auditing: methods of collecting audit evidence, analytical procedures, audit sampling, the use of estimates in accounting, etc.

Sixth the group includes three standards that address issues related to the use for conducting an audit of the expert’s work results, the work of the internal auditor and other audit organization (auditor).

Seventh the group covers 9 standards dedicated to drawing up reports and conclusions, development of the most important audit document - the conclusion on the accounting (financial) statements, the procedure for processing information based on the results of the audit (auditor's report, written information), features of the first audit of the audited entity, etc.

Eighth the group is relatively new and includes four standards, one of which is devoted to the analysis of the concept " Related audit services", and three standards contain requirements for the provision of such services, such as the implementation of agreed procedures in relation to financial reporting, compilation of financial information; review of financial statements.

Ninth The group is under development.

Comparison of the above classification with ISA will make it possible to draw up an adequate program for the preparation of new, most necessary federal rules (standards) of auditing activities for the Russian Federation.

Introduction

The importance of international auditing standards in regulating auditing activities

Auditing standards, their purposes and types
Standardization of auditing activities in Russia
Basic international auditing standards

Characteristics of standards ensuring the quality of audit services

Conclusion

Bibliography

INTRODUCTION

With the development of transnational corporations, integration and the transformation of audit firms into large international groups, the need arose to unify auditing on an international scale. Problems in the field of auditing are almost the same all over the world, therefore professional organizations of any country that are solving the next auditing problem first of all study the solution to it in other organizations that develop auditing standards.

Translated from English, audit is a check, an audit. That is, at their core, audit and revision are types of accounting and other checks. It is the difference in the goals and objectives of the audit that largely determine the difference between audits and audits, which have always been carried out and are being carried out now in enterprises and organizations.

Internal audits have existed in various countries around the world for many decades. If we talk about joint stock companies, then in Europe, in particular in France, already in 1867, the position of an auditor was established in companies. His responsibilities included assisting the general meeting of shareholders in the annual review of financial statements and their approval. In accordance with the law, the auditor was an authorized person of the shareholders.

Currently, audit is a separate area of business activity of professional auditors to carry out independent audits of financial statements. Auditors can also provide additional services related to consulting on accounting and tax legislation. In Russia, in recent years, the activity of tax consultants, who, in essence, are tax auditors, has taken shape and become an independent profession. In the Russian Federation, the legislative framework for auditing activities began to take shape in 1993 with the approval of the Temporary Rules for Auditing Activities in the Russian Federation. Currently in Russia there is a Federal Law “On Auditing Activities” dated 08/07/2001 No. 119-FZ and 38 Rules (standards) of auditing activities to it (PSAD), which were developed from 1996 to 2000.

The role of audits in ensuring the reliability of financial statements is due to their independence from the subject of the audit and the management of the audited organization, the opportunity to obtain an independent, and, therefore, a more objective opinion on the financial statements of the audited enterprises. The independence factor is extremely important, since it is it, first of all, that allows the auditors to provide an unbiased and unbiased opinion on the state of the client’s financial statements. This confirms that International Standards on Auditing precede the Code of Ethics for Professional Accountants, which views independence as one of the most important factors determining the activities of a professional accountant in public practice. international auditing standard

The responsibility of the auditor and the importance of his opinion in assessing the state of financial statements is associated with the role that financial statements play in the modern financial and economic life of various enterprises and organizations.

The purpose of this course work is:

describe general information about the audit;

talk about International Auditing Standards and their implementation in Russia;

identify the relationship between International Standards on Auditing and ensuring the quality of auditing activities.

1. The importance of international auditing standards in regulating auditing activities

Auditing standards, their purposes and types

Auditing standards are the uniform basic principles that auditors must follow in the process of professional auditing. They establish uniform requirements for the procedure for carrying out audit activities, design and assessment of the quality of the audit and related services, as well as for the procedure for training auditors and assessing their qualifications. The standards are necessary for the training of auditors within firms and can also be used to protect the auditor in legal proceedings.

There are four groups of standards:

international auditing standards developed by the International Committee on Auditing Practices. They fix the requirements for conducting audits in different countries. Their requirements are mandatory when conducting audits of transnational companies;

Developed countries have national standards. Currently, there are 34 federal rules (standards) for auditing in Russia. Federal rules (standards) for auditing are mandatory for audit organizations, individual auditors, as well as for audited entities, with the exception of provisions for which it is indicated that they have advisory nature;

internal rules (standards) of auditing activities in force in professional audit associations, as well as rules (standards) of auditing activities of audit organizations and individual auditors. One of the functions of professional associations of auditors is to organize audits based on common principles and approaches.

For this purpose, professional audit associations can establish internal rules (standards) for auditing activities for their members based on federal rules (standards) for auditing activities. At the same time, the requirements of internal rules (standards) of auditing activities cannot be lower than the requirements of federal rules (standards) of auditing activities.

Audit organizations that voluntarily joined the association are required to comply with data requirements

Auditing standards regulate the professional activities of auditors and are widely recognized throughout the world, since they allow us to achieve the greatest objectivity in expressing the auditor’s opinion regarding the compliance of financial statements with generally accepted principles of accounting and the preparation of financial statements, and also establish uniform qualitative criteria for comparing the results of audit activities. Uniformity of auditing activities is a necessary condition due to the variety of techniques used in auditing practice and the complexity of their comparison.

Auditing standards formulate uniform basic requirements that define standards for the quality and reliability of an audit and provide a certain level of guarantee of audit results when these requirements are met. They establish uniform requirements for the auditing procedure, the audit report and the auditor himself. As the economic situation changes, auditing standards are subject to periodic revision in order to best meet the needs of users of financial statements.

On the basis of auditing standards, programs for training auditors are formed, as well as requirements for conducting exams for the right to engage in auditing activities. Auditing standards are the basis for proving in court the quality of the audit and determining the level of responsibility of auditors.

The standards establish the general approach to auditing, the scope of the audit, the types of auditors' reports, the audit methodology, and the basic principles that all members of the profession must follow, regardless of the environment in which the audit is conducted. An auditor who allows deviations from the standard in his practice must be prepared to explain the reason for this.

Standards play an important role in auditing and auditing activities because they:

ensure high quality of audit;

promote the introduction of new scientific achievements into audit practice;

help users understand the audit process;

create a public image of the profession;

eliminate government control;

help the auditor negotiate with the client;

provide connection between individual elements of the audit process.

Auditing rules (standards) are general guidelines and rules that assist auditors in fulfilling their responsibilities for conducting audits and regulating the basic principles and features of auditing activities. The main purpose of the rules (standards) of auditing is to ensure that all auditors and users of audit services have a uniform understanding of the basic principles and objectives of auditing, the rights and responsibilities of auditors, methods and techniques for forming and expressing an independent audit opinion. The importance of auditing rules (standards) lies in the fact that they: contribute to ensuring high quality audits; establish uniform requirements when conducting an audit; help users of financial information understand the nature and methods of auditing; help auditors negotiate with the audited entity; provide communication between individual elements of the audit process; force auditors to improve their knowledge and qualifications; rationalize and facilitate audit work, etc. Russian auditing rules (standards) are divided into federal auditing rules (standards), internal auditing rules (standards) in force in professional audit associations, internal auditing rules (standards) of audit organizations and individual auditors.

Mandatory federal audit rules (standards). Federal rules (standards) of auditing are mandatory for audit organizations and individual auditors, as well as audited entities, with the exception of provisions in respect of which it is indicated that they are advisory in nature.

Composition and main groups of federal audit rules (standards). Russian federal rules (standards) of auditing include eleven groups (introductory remarks, responsibility, planning, internal control, audit evidence, use of third party work, conclusions and reports in audits, specialized areas, assignments, provisions on international audit practice, education and training ), ten of which correspond to groups of international standards (with the exception of the group “Education and Training”). All federal rules (standards) of auditing can be divided into three main groups: general rules (standards) of auditing, which represent a set of professional requirements regarding the qualifications of the auditor, the independence of the auditor’s point of view on all issues related to the work performed, etc.; rules (standards) for conducting an audit, which disclose provisions on the need to plan the work of the auditor, study and evaluate accounting systems, internal control and obtaining evidence, etc.; rules (standards) for drawing up a report, which provide an indication of what kind of financial statements are checked during the audit, whether they were drawn up in accordance with generally accepted rules, as well as the delimitation of the functions of the auditor and the administration of the audited entity.

The trend in the development and use of standards in auditing. Based on the second edition of the translation of international auditing standards into Russian, in February–April 2002, drafts of the first group of new federal rules (standards) for auditing activities were developed. The first group included the following rules (standards) of auditing: “The purpose and basic principles of the audit of financial statements”, “Documentation of the audit”, “Planning of the audit”, “Materiality in the audit”, “Audit’s report on financial (accounting) statements”, “Risk assessment and internal control”, “In-house quality control in auditing”, “Affiliates”, “Events after the reporting date”, “Applicability of the going concern assumption”, “Auditor education”. Until these standards are approved by the Government of the Russian Federation, the rules (standards) of auditing activities approved by the Commission on Auditing under the President of the Russian Federation are in effect. The first six of these standards were approved by Government Decree of September 23, 2002. A decision was made to prepare a working version of the glossary (a list of basic terms and concepts for auditing activities). The developed draft auditing rules (standards) largely comply with international auditing standards, since it was decided that when numbering them the same coding system will be used as is used when numbering international auditing standards (a three-digit number, the first digit of which corresponds to the section of the international standard audit, the second - the number of the standard within this section, and the third digit for the standards of the first stage was equal to zero; in the future it can be used so that new standards can be located among the previously developed standards of this section).

The structure and sections of the rules (standards) of auditing activities. The rules (standards) of auditing generally have a single structure and contain the following sections: general principles of the standard - the purpose and need for the development of this standard; object of standardization; scope of the standard; relationship with other standards; basic concepts and definitions (if necessary) used in the standard, which covers new terms and their characteristics; the essence of the standard, which formulates a problem that requires description, analyzes it and provides methods for solving it; practical applications, which include various applications - diagrams, tables, sample documents, etc.

Discrepancies between international auditing standards and Russian auditing standards. Russian auditing standards are based on international ones and are very close to them in content. The existing discrepancies are related to the peculiarities of the style and design of documents, details of presentation, practical examples used, as well as the national accounting system, Russian legislation: Russian auditing standards were based on the current Russian legislation, which made it impossible for us to use certain provisions of international auditing standards (for example, on preparation of the auditor's report); international auditing standards are based on Western “generally accepted accounting principles” (GAAP) and often contradict current Russian accounting principles; international auditing standards are based on little-known realities among us (there are no official documents regulating the requirements for an enterprise’s internal control system). If federal auditing rules (standards) are established in Russia that comply with international auditing standards, the degree of confidence of foreign users in reporting verified in accordance with Russian auditing rules (standards) will increase.

Internal auditing standards

The importance of internal auditing standards. The use of internal standards in audit organizations makes it possible to formulate uniform basic requirements for employees of an audit organization when conducting an audit and performing related services, and also contributes to: compliance with the requirements of federal rules (standards) of auditing activities; reducing the labor intensity of audits; facilitating the collection of necessary evidence; reducing inspection time; reducing the risk of errors when formulating a conclusion; use of auditor-assistants for auditing; increasing the volume of audit services performed.

Types of internal auditing standards. Internal auditing standards are divided into two groups, i.e. internal audit rules (standards) in force in accredited professional audit associations and developed by them and internal rules (standards) of audit activities of audit organizations (auditors), which are documents detailing and regulating uniform requirements for the organization of work of audit organizations, the implementation and execution of audit services (they must be accepted and approved by the audit organization in order to ensure the effectiveness of practical work and its adequacy to accepted Russian auditing standards).

Blocks of internal audit standards. Internal audit standards include the following blocks: standards on the internal structure of the audit organization and the technology of organizing its activities, which reveal its organizational structure, principles of relationships with audited entities, the structure of internal control and internal reporting, powers and job responsibilities of employees, requirements for the level of their education and qualifications, issues of professional ethics, etc.; standards that decipher, supplement and clarify the provisions of federal rules (standards) of auditing or internal rules (standards) of auditing of accredited professional audit associations, which can be classified into such groups as: responsibility of auditors; audit planning; study and assessment of the internal control system of the audited entity; obtaining audit evidence; use of third party work; the procedure for forming findings and conclusions in the audit; specialized auditing standards; methods for conducting audits of sections and accounts of accounting, which are useful for novice auditors and assistant auditors, helping them to insure themselves against gross errors and make the right decision in approximately 80% of cases; standards for audit-related services drawn up on the organization of accounting, principles of accounting restoration, accounting automation, etc.

Development of internal audit standards. To ensure effective work on creating a system of internal standards for an audit organization, it is recommended to create a Methodological Council or other special collegial body within it. When developing internal auditing standards, one should take into account their expediency (practical significance, relevance, priority), continuity and consistency (coherence and interrelation with other internal standards), completeness and detail (internal standards must cover all issues of the problem under study and cover them in detail), and also the unity of the terminological base (unity of interpretation of terms in all standards and documents). Internal auditing standards must contain such details as the serial number of the standard, the date of entry into force, the name and purpose of the standard, the person who approved the standard and the scope of application. They must be approved by order of the head of the audit organization, the board of founders or other authorized body (in cases provided for by the constituent documents).

- these are uniform requirements for the procedure for carrying out audit activities and contain the basic principles and techniques that the auditor must follow in his professional activities.

Auditing rules (standards) are one of the regulatory tools. Auditing standards are general guidelines to assist auditors in fulfilling their audit responsibilities.

The application of auditing standards allows audit organizations to:

comply more fully with the requirements of auditing standards;
make the technology and organization of auditing more rational, reduce the labor intensity of audit work on inspections of individual areas, provide additional control over the work of auditors and other specialists.
promote the introduction of scientific achievements and new technologies into audit practice, strengthen the public prestige of the profession;
ensure high quality of audit work and help reduce audit risk;
detail the auditor's professional conduct in accordance with ethical standards of auditing.

According to the level of organization of public relations, audit standards are divided into into international and national ones, and in content and purpose into general, working, auditing reporting standards and specific ones.

International auditing standards prepared with the aim of unifying approaches to auditing internationally and increasing the level of professionalism in those countries where the level of auditing is below the global average. The development of international auditing standards is carried out by the Committee on International Auditing Practices, which acts as a permanent autonomous committee under the International Federation of Accountants (IFAC).

National standard of the Russian Federation are the rules (standards) of auditing activities - regulatory documents regulating uniform requirements for the implementation and execution of audits and related services, as well as for assessing the quality of the audit, the procedure for training auditors and assessing their qualifications. They become the basis in court for proving the quality of the audit and determining the degree.

The rules (standards) of auditing activities are divided into:

to federal rules (standards);
internal rules (standards) in force in professional audit associations, as well as in audit organizations and individual auditors, i.e. internal company rules (standards).

Federal rules (standards) are approved by the Government of the Russian Federation. These rules (standards) are mandatory for auditors and audit organizations.

According to paragraph 5 of Art. 9 of the Federal Law of 07.08.2001 No. 119-FZ “On Auditing Activities”, professional audit associations, in accordance with their charters, have the right to establish rules (standards) for auditing activities for their members, which cannot contradict the federal rules (standards) for auditing activities and contain requirements lower than those established in federal rules (standards).

General standards disclose the goals and principles of auditing financial statements, contain requirements for the level of qualification of the auditor in order to effectively and professionally perform audit procedures. The auditor must have appropriate training and knowledge, be independent, and act with due care.

Working Standards are the basic rules for conducting audit activities and provide a structure or general outline of purposeful, systematic actions that the auditor must follow in his work (including planning and supervision of the auditor, consideration of the internal control structure, obtaining competent evidence).

Reporting Standards set basic requirements for the composition and content of the auditor’s report, and the procedure for their submission.

Specific Standards are intended for conducting audits of certain industries and providing other services.

In-house auditing standards

In accordance with the legislation of the Russian Federation, the internal rules (standards) of auditing activities in force in the audit organization and the individual auditor are classified as internal standards.

In-house auditing standards— documents detailing and regulating uniform requirements for the implementation and execution of an audit, adopted and approved by the audit organization in order to ensure the effectiveness of practical work and its compliance with the requirements of the rules (standards) of auditing activities.

The audit organization must create a package of internal standards, reflecting its own approach to the audits carried out and the conclusions drawn up, based on generally established principles of organizing and conducting an audit. Intra-company standards regulate the activities of auditors within a given audit firm and provide an additional basis for resolving all kinds of real and potential conflicts.

The internal standards of an audit organization may include standards, instructions, methodological developments, manuals and other documents that are mandatory for use in the audit organization, adopted and approved in accordance with the established procedure, revealing internal approaches to auditing activities. Taken together, they represent a description of an integrated approach to the organization and technology of auditing.

Intracompany standards are approved by the head of the audit organization, unless the constituent documents provide otherwise. These standards are revised when there are changes in the legislation of the Russian Federation, specialization, or change of owner.

The requirements of the audit organization's internal standards should govern the performance of audit procedures in accordance with the basic principles of auditing and generally accepted ethical standards.