INDUSTRIAL AND FINANCIAL AUDIT 1 INDUSTRIAL AND FINANCIAL AUDIT Pluchevskaya Emiliya Valerievna Ph.D., Associate Professor of the Department of Economics

AUDIT, its nature, objectives, principles 2 AUDIT, its nature, objectives, principles The story of the audit activity Audit as a science. Subject and method of audit Normative regulation of auditing. Principles and types of audit

The auditor in translation - the listener. 3 The auditor in translation - the listener. The first auditors of a person exercising an independent verification of financial and economic activity of enterprises, appeared in England.

4 The first mention of auditors belong to the nineteenth century., But the date of birth is considered to be audit 1844 In Russia, the auditor position was introduced by Peter I, the auditor was a military rank.

Audit as a science. Subject and method of audit 5 Audit as a science. Subject and method of audit Audit subject - that is, information which is concentrated in the financial statements of the economic entity. Аudit task - to establish credibility, concentrated in the financial reporting information with reasonable probability. General audit method is to determine the probability P of the expected error M accounting and comparing it with a permissible error of financial statements (the materiality level) S.

6 Auditing (audit services) - which includes the provision of audit and audit-related services provided by audit firms, individual auditors. Audit - an independent audit of accounting (financial) statements of the entity for the purpose of expressing an opinion on such statements. For the purposes of this Federal Law, the accounting (financial) statements of the audited entity is understood statements provided by the Federal Law N 402- FL "On Accounting", and similar in composition statements provided by other federal laws.

7 The audit organization - a commercial organization that is a member of one of the self-regulating organizations of auditors. The auditor - a natural person who has obtained a qualification certificate of the auditor and a member of one of the self- regulating organizations of auditors. The purpose of auditing activity - setting the reliability of financial reporting and compliance with economic subjects improved their financial and business operations regulations in force in the Russian Federation

8 To audit-related services include: production, restoration and maintenance of accounting records, preparation of financial (accounting) statements, accounting consulting; tax advice, statement, restoration, and tax accounting, preparation of tax returns and declarations; analysis of financial and economic activities of organizations and individual entrepreneurs, economic and financial consulting; management consulting, including related to the reorganization of companies or privatization; Legal assistance in areas related to auditing, including legal advice, representation of client's interests in civil and administrative proceedings, to the tax and customs legal relations, in public authorities and local governments; accounting automation and introduction of information technologies; evaluation activities; development and analysis of investment projects and business plans; conducting research and experimental work in areas related to auditing, and dissemination of their results, including paper and electronic media; training in areas related to auditing.

The main stages of the audit are: preliminary, planning, check, final. 9 The main stages of the audit are: preliminary, planning, check, final.

integrity, objectivity, honesty; professional competence; 1010 Audit Principles: independence; integrity, objectivity, honesty; professional competence; confidentiality; professional behavior.

By the degree of compulsion: 1111 By the degree of compulsion: the statutory audit; voluntary audit.

According to the composition and terms of verifiable documentation: 1212 According to the composition and terms of verifiable documentation: audited annual financial statements; special audit, i.e. check for the economic entity-specific issues related to its activities. By type of performer audit services: external audit; internal audit.

External audit - audit services by an independent audit firm, auditor. 1313 External audit - audit services by an independent audit firm, auditor. Internal audit - an element of the internal control system in the enterprise, it is not a dependent and subordinate to the leadership of the organization. Its tasks are: validation of the information provided by the management; control of the state and the safeguarding of assets; executive control; assessment of the effectiveness of management, production, investments.