For almost every institution, such a thing as revision is familiar. And for trade and manufacturing enterprises, this is one of the components of successful work. An audit is a check and control of the organization’s work, its economic activities, the legality of the actions of employees in the field of financial operations of the institution.
The audit performs many important control tasks for the organization. It:
verification and identification of violations in the field of property safety;
quality control of the performance of their duties by security personnel;
quality control of the performance of their duties of the materially responsible staff of employees in relation to the property of the organization;
verification and identification of violations in the field of distribution and use of funds allocated from the budget.
Revision is a series of actions that can conditionally be divided into two main areas. The first will be control over financial and economic activities. The second direction is control over the legal documentary validity of such actions. And both of these areas are closely related to each other.
Audit is an activity of authorized persons organized by the company itself for
internal control and identification of dishonest employees. In this case, the auditor is selected by the management of the company. Most often, for this, the organization uses the services of special firms that are engaged in auditing. But it is also possible to keep an employee in their own staff as an auditor.
An audit is an event that can be initiated by government bodies in accordance with applicable law to monitor the legality of the enterprise. In this case, the relevant state body appoints a control and audit commission.
Audit of funds allocated from the budget is carried out at the end of the financial year. But budget control is carried out in three stages - during preparation, during its execution and according to the results of work with allocated funds.
In order for the audit to be successful, it is necessary to follow some rules when conducting it:
Firstly, the “unpredictability” of verification. For the purity of organized control, the audit participants should not know in advance about the start date of its conduct.
Secondly, the frequency. It should be carried out for a certain period. Each organization independently decides how many times it is necessary to conduct an audit. In the case of state control, there are regulated periods and periods for conducting an audit.
It is important to remember the confidentiality of this event. Audit participants should keep secret the results of its conduct.
This type of control often requires a suspension of the financial activities of the organization, but there are times when work does not stop at the time. For example, an audit in a small format store may be carried out after it is closed or even during work. In the case of large turnover, the enterprise has to be suspended for the duration of such an audit.