Organization and conduct of an audit is one of the most effective tools for ensuring effective business. Among other things, it forms the necessary connection between the business community and the fiscal system of the state, but not at the level of direct interactions for the collection of taxes and payments, but about improving accounting.
The purpose of any audit activity is to identify an adequate and reliable opinion on the quality of financial activity and its compliance with the established rules and standards for maintaining accounting and reporting accounting documentation. At the same time, as stipulated by the basic principles of audit activity, the auditor can express and state his opinion on the state of financial reporting in all important respects.
It is important to take into account the fact that the opinion of the auditor is counter-positional, that is, the audited entity does not have the right to accept, and even more to present to third parties, the opinion of the auditor as evidence of the correctness of business. The converse is also true, but the practice of conducting an audit shows that in any case, an audit contributes to an increase in the quality of financial activities and an increase in the credibility of auditing agencies.
As stipulated by federal rules, auditing standards should be built taking into account international requirements for conducting these activities, which consist in the declaration of common audit objectives and principles.
Modern federal auditing standards are provisions, the main of which are: independence, compliance with confidentiality rules during inspections, honesty and objectivity of the audit and conclusions based on its results, professional competence and integrity, professional behavior. In addition, each auditor, in the performance of his duties, must comply with the norms established by international and national associations of auditors (standards).
The current federal standards for auditing include audit standards developed by the Ministry of Finance of the Russian Federation. At the moment, they are structurally composed of first-line standards and second-line standards, and some of the first-line standards (from the fifth to the 15th) are no longer valid. In total, at present, the federal auditing standards comprise 29 provisions that fully comply with international auditing standards.
The principle of independence is the need for the auditor to have no opinion on the audited person and his activities, which ensures the objectivity of the audit. Also, this principle implies the absence of any kind of dependence of the auditor on the person who is being audited. For example, an audit cannot be carried out by auditors who are the founders of the enterprises of the audited entrepreneurs, be with them or other responsible persons in close kinship.
The principle of completeness, as suggested by federal auditing standards, is expressed in checking the entire necessary list of documents to obtain accurate information about the status of financial activities.
The principle of confidentiality (also referred to as audit secret) is to ensure that auditors ensure the integrity of the reporting documentation and its safety. In addition, they should not pass these documents on to third parties or allow anyone to use them during the inspection. The principle of confidentiality must be respected even when the dissemination of information about the audited entity can cause him financial or image harm.
The system of audit standards is not only a corporate code, but also a legal institution, the regulation and authorization of which is the prerogative of the state.