How to conduct an audit at the enterprise. Audit check: what it is, why it is carried out, whether it is mandatory, types, goals, stages

In order to confirm the accuracy of the information that the business entity indicated in its annual financial statements, outside experts may be involved. They, after studying all the information accounting express their independent opinion. This kind of audit of accounts can be ordered by both the organization itself and external users (owners, creditors, etc.). It is called an audit.

Auditing is a procedure for performing an independent third-party assessment of information about the financial and economic activities of a company, the source of which is the data contained in accounting documents business entity.

Accounting audit financial reporting is carried out in several stages. At first responsible persons collect information, then carry out its comprehensive analysis, after which they give their assessment. The main result of the audit is the expression of opinion, how much the data from the final financial statements of the organization can be trusted.

Attention! The logical outcome of the audit is an audit report. This is a document that contains the final result of the procedure - an opinion on the reliability of the information in the report, or not.

Based on who determines the need to perform an audit, it can be divided into several types:

Mandatory audit. It is held annually on the basis of requirements enshrined in law. In addition, holding statutory audit may be subject to the decision judicial authority. This kind of verification can only be performed by companies that are accredited to perform the specified procedure. During the execution of the audit procedure, the responsible persons adhere to the standards established for this case.
Initiative audit. It is carried out on the basis of the desire of the company administration. Its scope is also set by management. Usually, the purpose of an initiative audit is to provide consulting services in the field of accounting.

For what purpose is

The main goal for the audit procedure is to determine how much you can trust the information specified in the organization's annual accounts.

This desire stems from the fact that modern world information is one of the most valuable resources. After all, it is she who will allow correctly and in right moment make sound management decisions.

Thus, the main reasons for performing an audit are:

Establish the correctness and accuracy of the information that is indicated in the company's annual accounts;
Identify violations in the field of accounting for their further elimination;
Have financial information with a fairly high degree of certainty.

In addition, for the company itself, the execution of an audit is beneficial. A positive conclusion will be an additional indicator for partners that the company acts as a reliable business entity.

Who should conduct a statutory audit

Those business entities that must perform the audit procedure in without fail are enshrined in law. He gives a list of criteria, and if the subject meets one of them, he will be obliged to send his reports to the expert organization.

The following companies are required by law to:

Related to the organizational form of joint-stock companies;
Which conduct one of the following types of activities - insurance, credit, clearing companies, bureaus credit histories, professional market participants valuable papers, mutual insurance companies, trade organizer, non-state pension funds, stock investment funds etc.
By the state of securities - if they are on the world market;
By the amount of income received for the year - if it exceeds 400 million rubles;
By the size of the balance sheet at the end of the period - if it exceeds 60 million rubles;
Disclosure of consolidated financial statements - if the company publishes consolidated annual financial statements.

Attention! These criteria are defined in the audit law. In addition, other federal laws can determine additional criteria. For example, the obligation to conduct an annual audit also lies with self-regulatory companies, public corporations, developers, etc.

International Auditing Standards

During the execution of the procedure for checking the client's statements, audit companies should be guided not only by the standards of activity adopted in Russia, but also by international rules.

International Standards on Auditing (ISA) are the rules for conducting an audit that have been drawn up and put into effect International Federation accountants. They have their power all over the world. All Russian standards created on the basis of international

Internal audit is used in most large companies. It is needed to prevent the occurrence of significant shortcomings. It is carried out in accordance with a given algorithm.

What is an internal audit

Internal audit is an audit of the company's activities, which is carried out in the interests of the owner. The procedure is carried out on the basis of the regulations drawn up by the company itself. In the process, documents are checked, a survey of employees is conducted.

Main goals

Consider the tasks of the internal audit of the company:

Organization of effective financial and economic activity.
Establishing productive interaction with contractors.
Prevention of occurrence of significant violations.
Reducing the number of losses.
Ensuring compliance of activities with the law.
Checking the accuracy of the information contained in the documents.

Internal audit is needed, first of all, by the head of the company. The test results will help optimize production.

The legislative framework

The work of specialists performing internal audit must comply with international (MSVA) and domestic standards. It is regulated by Federal Law No. 307 “On the activities of the auditor”. In addition, the check should not contradict these norms:

Federal Law No. 115 "On combating money laundering" dated August 7, 2001.
Federal Law No. 273 "On Combating Corruption" dated December 25, 2008.

Internal audit standards should also be contained in the company's internal documents.

What is checked during the internal audit process

Conducting an internal audit involves A complex approach. That is, all aspects of the company's activities are checked. In particular, these are:

OS accounting, intangible assets, cash transactions, financial results, capital and other.
Operations on currency, current and other accounts, settlements with counterparties, insurance companies.
OS state, documenting funds, the correctness of depreciation, the implementation of the repair plan.

The auditor must also ensure that information security. Checks the processing of information in the company operating Information system presence of trade secrets. The specialist conducts an audit of the information security system.

Varieties of internal audit

Exist different kinds internal audit. The audit is divided into types depending on the tasks assigned to the auditor. There are the following varieties:

Checking the control system.
Organizational and technical control.
Control audit of the main activities.
Checking for compliance with internal and legal regulations.
Establishing the expediency of the activities of officials.

All considered types of audit are not mandatory. They are carried out at the initiative of the leader.

Documentary support of the audit

As part of the audit, it is necessary to draw up a number of documents. Otherwise, the audit will not be legitimate.

Issuance of an audit order

The inspection is carried out on the basis of the order of the head. This document establishes the following aspects of work:

Dates of the inspection.
Employees who will be involved in the audit.
Conditions for conducting internal audit.
Control over the work of the auditor.

The order must contain clear instructions regarding the commencement of the audit.

Check list

As part of the audit, control of many areas is carried out. There are many operations that need to be followed in sequence. To comply with the algorithm, it is recommended to draw up a checklist. It includes a list control questions. There are no laws governing the compilation of this document. The checklist is filled in in accordance with the wishes of the head. It allows you to solve these problems:

Proper planning of control measures in accordance with the law.
Execution of intermediate and selective control of the auditor's activity.
Implementation of all the main stages of the procedure.
Facilitate the work of the auditor.
Possibility of carrying out a complex and holistic procedure.

You can draw up a checklist on the basis of the provisions of the Federal Law No. 307 "On Auditing" dated December 30, 2008.

Stages of internal audit

Internal audit can be divided into three stages:

Preparation. Includes issuing an order, compiling a checklist.
Worker. As part of it, documentation is checked for compliance with the norms of the law, interviews of employees and management.
Final. A conclusion is drawn up in which the results of the procedure are prescribed.

Each of these stages has its own significance. For example, if adequate preparation is not carried out, the procedure will not be as effective in the future.

Internal audit tools

Components internal verification depend on the needs of the company. For example, these can be the following tools:

Checking the correctness of budgeting, projects and plans.
Analysis of existing orders for the supply of raw materials.
Checking the fulfillment of supply contracts.
Establishment actual write-off materials into production.
Establishing the correctness of calculations, checking the reflection of their results in accounting for the cost of goods.
Checking invoices.
Checking the validity of depreciation.
Execution of control over the movement of funds.
Timely reflection in accounting of all business transactions.
Establishing the correctness of settlements with counterparties.

This list may be supplemented. The nature of the additions is determined by the specifics of the companies' activities.

Auditors use a variety of tools in their work. For example, if invoices are checked, the following control procedure is relevant:

Establishing the fidelity of keeping a book of sales and purchases.
Analysis of invoices for missing numbers.
Control over the entry of all transactions in the General Ledger.
Checking the correctness of customer accounts.
Reconciliation of information from analytical and synthetic accounting.
Reconciliation of the dates of the performed operations with the dates indicated in the invoices.

Motion check material assets carried out through inventory. You need to prepare for this procedure. Preparation includes these steps:

Drawing up a list of materials that are subject to inventory.
Formation of the inventory commission.
Obtaining a receipt that all documents related to the MPZ are in the accounting department.

Analysis of the accuracy of depreciation is performed on the basis of documents. The list of securities subject to audit includes inventory cards. The auditor may also carry out a recalculation.

Results of the internal audit

The results of the audit are recorded in the report. It contains this information:

List of verified documents and areas of activity.
Identified shortcomings.
Recommendations for correcting defects.
The person who performed the audit.

Audit reports must be kept. They can be compared with each other in order to analyze the dynamics of the company. Based on the reports, work is carried out to correct the identified shortcomings.

FOR YOUR INFORMATION! Not every employee can participate in an audit. It is desirable that the specialist had the appropriate education. You can get all the necessary knowledge in specialized courses.

Natalia KALOKHINA

A positive audit result depends on quality preparation. But so that the preparation does not take a lot of effort and time, it must be done wisely. The easiest way is to find out in advance how and what the auditors check, and put things in order in the “right places”.

Neither friend nor foe Often, accountants imagine an audit as a kind of tax audit. The only difference is that this check does not threaten with fines, penalties, forfeits and is carried out for money. But it will bring no less trouble and trouble. However, this notion is far from reality. In fact, auditors come to the firm not as controllers, but as independent experts. Their purpose is to certify the reliability of the financial statements and confirm that the accounting in the organization is kept in accordance with Russian legislation. At the same time, they are not interested in “digging up” as many minor errors and violations as possible. The task of auditors is to identify only significant misstatements in the financial statements as a whole. In auditing practice, there is even a special concept in this regard - the level of materiality. This means that the auditor evaluates only those aspects of the company's economic activity, the incorrect accounting of which can lead to a significant distortion of the reporting. And the factors that have such a total influence on financial statements do not have, they usually do not receive an audit at all. In addition, if the auditor still finds serious errors in you, this is not a verdict. Any deficiencies found can be corrected promptly. And as a result, get a positive audit opinion. “As practice shows, regardless of the level of qualification of accountants, there is no absolutely correct accounting and tax accounting, notices CEO consulting company "Kosov and Partners" Andrey Kosov. “Inaccuracies happen all the time. And because of the incorrect distribution of responsibilities between the employees of the accounting department, and because of the imperfection of accounting computer programs, and because of a misunderstanding of the law. By identifying errors, the auditor makes recommendations on how to correct them. This allows us to improve the work of the accounting department and prevent possible future claims from the tax authorities.” So it turns out that the auditor for the accountant is rather a friendly person. And even useful. By pointing out professional blunders to you, he thereby improves your skills. Buhprofstatus under threat However, it is not worth approaching the audit check in a slipshod manner. It still carries some risks for the accountant. They concern the potential to spoil the relationship between accounting and management. The fact is that according to the results of the audit, auditors usually draw up a report in which they indicate all the identified shortcomings. “We have made it a rule, based on the results of the audit, to provide the client with a report on the audit as a separate document,” says Tatyana Sviridova, general director of the consulting firm Svirita. “This is not yet the auditor's report itself, but only a preliminary description and analysis of the consequences of the detected accounting errors.” This report is addressed to the management of the company. It is not mandatory and is not even provided for by auditing standards. Nevertheless, in practice, most audit firms make it. Thus, they demonstrate the level of their professionalism and trust in the client. Thus, despite the fact that the accountant will subsequently correct most of the violations indicated in the report, the director will still know about them. And the accountant's reputation in the eyes of his superiors will be slightly tarnished. And if the errors found were gross and their elimination threatens the company with a loss of money, then it’s not far from being fired. To prevent such an unfortunate misunderstanding with the accountant, he should clean up his "kitchen" even before the arrival of the auditors. How auditors check When preparing for an audit, don't overdo it. It is not necessary to re-shovel the entire primary of the period being checked. After all, "solidly" to view your business transactions no one will. Therefore, it is necessary to “beautify” accounting selectively. And in order to “choose” for cleaning the same thing that the auditors will be interested in, you need to know the specifics of the audit. It consists in this. Since the task of the auditor is to identify precisely significant misstatements in reporting, he checks only transactions that are significant for this company. That is, for verification, he will select documents, firstly, according to the most characteristic transactions. Secondly, on transactions for significant amounts. This is a normal audit practice established by auditing standards. Thus, first of all, the accountant needs to double-check those areas of accounting that take into account operations that are the “backbone” for the company. For example, if an organization is wholesale trade, then the main attention should be paid to settlements with suppliers and buyers of goods, transport costs for delivery. Preventive measures There are three main stages that an accountant has to overcome before starting an audit. First, tidy up source documents for all significant transactions. Auditors will definitely look at them and find fault if the primary organization is framed with violations. “When documenting transactions, the company's management cannot always foresee all tax risks and possible liability,” says Andrey Kosov. – Therefore, the quality of the primary documentation accepted for accounting is often very low. But the accounting department is forced to take into account what is given to it, not being able to intervene in the process. However, auditors do not have the right to ignore such shortcomings.” The upcoming audit is an occasion to finally deal with all the inaccuracies and ambiguities. Contact your counterparties and get the missing documents. Replace dubious papers, collect missing signatures and seals, fill in missing details. If you do not do this in advance, then the audit may be significantly delayed, since clarifications of this kind will still have to be done, but already in the audit process. And it will take a lot of time. And extra time is extra money. The second stage of preparation for the audit is an inventory. By “taking inventory” on the eve of the audit, you thereby confirm that your accounting is not invented out of your head, but fully reflects the economic activity of the company. Again, if during the inventory process you find a discrepancy between the actual and credentials, you still have time to make corrections. Although the legislation obliges to conduct an inventory before compiling annual reports (Article 12 of the Law of November 21, 1996 No. 129-FZ), many firms approach this obligation formally. Inventory only property, ignoring accounts payable and accounts receivable, work in progress, reserves, etc. “Contractors quite often have different data on debts to each other,” says the director of the audit and consulting department of Ya.N.S. Audit” Nikolai Litvinov. – Inconsistency between inventory accounting data and inventory registers is also not uncommon. Especially if the warehouse is geographically remote from the accounting department. In order to anticipate the detection of such errors by auditors, we recommend checking with the main counterparties and with territorially remote divisions before the audit. The ideal case would, of course, be a complete inventory of all assets and liabilities.” In addition, special attention should be paid to documenting the results of the inventory. The content of the documents should convince the auditor that the inventory was carried out on the merits. If the auditor suspects that the accountant simply printed and signed the unified forms, he may question the results of the inventory. In the third step, the accountant should close reporting period, sum up accounting results and form a draft report. Accounting statements (balance sheet and second form) are an integral part of the audit report (usually filed directly to it). Therefore, going out for an audit, auditors usually require that by the time they arrive, the reporting has already been formed at least in the form of a draft. Suspicion zone serious audit firms never approach verification formally. They have special tricks with which to probe weaknesses in accounting. It is useful for an accountant to know about small auditing tricks and, if possible, to eliminate problematic points in advance. The auditor will not like it if accounting register contains corrections, grouting, reversals and similar inaccuracies. After all, such an unpresentable type of document indicates that the accountant was not confident in his calculations and postings. This means that this area is new for him, and there is a high probability that errors will be found here. And this is an occasion to dig deeper into this place. The same can be said about folders with primary documents, which are completely sealed with colored bookmarks, with pencil marks in the margins and in the text of the document. These are clearly places where the accountant had doubts. Or wanted to finish something, but did not have time or forgot. Auditors pay attention to non-standard accounting operations for a particular company. Often the accountant does not have enough information to make "exotic" entries correctly. And there is no time left to deal with the daily routine. The same suspicion of incompetence is caused by auditors in areas where the legislation has changed not so long ago. “I should note that very often we work with accountants who are well versed in accounting issues, but the situation is not very important with taxation,” says Tatyana Sviridova. - For some reason, many accountants do not work with regulations, laws, instructions at all, but are guided by the opinion of a familiar tax inspector or an accountant who has fallen into a similar situation. As a result, the operation is executed incorrectly, repeating the mistakes of others. With special attention, auditors will treat accounting, in which the vast majority of entries are made by the last day of the reporting period (month, quarter, year). “Most likely, in this case, accounting is conducted irregularly,” Nikolai Litvinov expresses dissatisfaction. - The accountant, violating the principle of temporary certainty, quickly reduces taxes and reporting. At the same time, while trying, if possible, to reduce the amount of VAT and income tax due to the budget, the end of the reporting period often makes unreasonable payments. And for this, he “draws” fictitious contracts, the qualified execution of which is postponed until later. But as a result, he often forgets to redo them altogether. The auditor will definitely be interested if he finds that in the organization the share of costs in total revenue is quite significant. To satisfy his interest, he will check whether the accountant complied with the law when he executed "costly" transactions. The auditor will look at supporting documents confirming the costs, check the correctness of the cost rationing. And also make sure of the legitimacy of attributing costs to reduce taxable profits. And the accountant will definitely attract increased audit attention to himself if he lingers and everyone possible ways delay the display of requested documents - contracts, acts, other primary documents or accounting registers. Or bring the so-called "separate folder". That is, a folder with contracts, in which, as it turns out, part of them is missing. To the corresponding question of the auditor “Where is the rest?” the accountant replies that "the rest" is stored in another "separate folder" (in a safe, with the general (financial) director). “As a rule, this is a sign of unwillingness to show dubious documents or technical errors to the auditor,” notes Nikolai Litvinov. – Therefore, the content of the “separate folder” is subjected to the most thorough analysis. Usually it contains fictitious contracts, bills involved in dubious transactions, salary schemes. Or just very important documents which cannot be left unattended when checking.

The audit check is selective - they check the execution of a small number of each type of documents, as well as the general principles for reflecting them in accounting

Every year for accountants comes a difficult period of preparing annual reports, and most of them ask themselves the question “Do we need auditing? With a positive answer to the question, a decision is made to attract professionals to conduct an audit. Another part of accountants asks the question “Why do we need auditors in principle? How can they help us?"

1. No matter how competent an accountant is, he may not physically have enough time to check the correctness of reporting. And the audit just means careful analysis of accounting (financial) statements.
2. As a rule, accounting specialists are forced to perform a huge amount of routine work, as a result of which there is a risk of missing last changes in legislation. And given the ever-changing Russian legislation It's hard to keep track of changes! Therefore, in this situation it will be very useful information held by the auditors.
We would like to draw your attention to the fact that based on many years of practice, the auditors of ACG "Ural Union" within the framework of the audit provide professional advice on accounting and tax accounting. The information obtained during the consultations will allow the accountant to defend his point of view before the regulatory authorities.
3. An audit will allow you to identify risky business transactions, and thus help to avoid penalties provided for by the Tax, Administrative, and Criminal Codes of the Russian Federation.

draw your attention to that, in addition to the above, our independent audit will identify hidden reserves to improve the efficiency of the entire enterprise!
To summarize the above, we recommend that all accountants treat auditors not as a supervisory body that will suddenly appear (as tax audit), but only as an ally. And it is up to you to decide whether you need such an assistant or not.

But if you still decide to conduct an audit, then you need to prepare certain documents for the arrival of auditors.

Documents for audit

The list of documents that auditors use in their work is given below:

1. Constituent documents, orders of the founders;
2. Documents for obtaining licenses, patents and other types intellectual property;
3. Materials of judicial proceedings and decisions of judicial, superior and local authorities;
4. Documents and reports on receipt and use budget funds;
5. Industry norms, rules, instructions;
6. Intracompany instructions and regulations;
7. Staffing. Collective agreement. Regulation on wages;
8. Economic contracts (rent, supply, commission, etc.) and other commercial contracts for all types of activities;
9. Orders for production, personnel;
10. Planned and actual costing. Estimates. Projects. Calculations and justifications for the approval of regulated tariffs, etc.;
11. Production and other intra-company reports;
12. Planned and actual estimates for the use of the Company's own funds. Representation expenses. Documents defining the distribution of profits;
13. Order by accounting policy. Working chart of accounts (sub-accounts). Document flow schedule;
14. Documents on tax registration with tax authorities and off-budget funds, Notification of the assignment of codes in the territorial department of the State Statistics Committee of the Russian Federation and other registration documents;
15. Acts of reconciliation for taxes and fees tax authorities. Acts of inspection of the enterprise by tax authorities;
16. Annual reporting with appendices and explanations to it;
17. Written information and audit reports based on the results of audits for at least 2 previous financial years.
18. Tax registers, calculations and declarations, certificates of calculations (for all taxes). Documents justifying benefits for tax calculations;
19. General ledger, working balance;
20. Quarterly and annual accounting and statistical reporting in full;
21. Book of purchases and sales. Journal of registration of incoming and outgoing invoices;
22. Magazines-orders, transcripts (analytical accounting) for keeping records on all balance accounts. Information, analytical accounting for operations on off-balance accounts;
23. Acts of inventory of inventory items, fixed assets, intangible assets, cash, debt settlements and other balance sheet items;
24. All primary documents confirming the accounting data recorded in the journals, orders, statements, machinograms;
25. Invoices, purchasing acts, acceptance certificates, liquidation, writings, and other documents confirming the movement of inventory items. Material and commodity reports;
26. Acts of acceptance and transfer, commissioning, liquidation, sale, revaluation, cards, etc., confirming the movement of fixed assets. Inventory of fixed assets;
27. Primary documents accounting and storage of inventories;
28. Contracts by materially responsible persons. Journal of accounting of issued powers of attorney and other documents at the request of the auditor;
29. Cash book enterprises, a certificate on the establishment of a limit on the balance of cash. Cash documents (receipt, disbursement orders with all applications)
30. Expense reports accountable persons applications;
31. Acts of mutual offsets: assignment agreements and other documents on the repayment of obligations. Acts of acceptance and transfer of bills. Acts of reconciliation of settlements by counterparties;
32. Results of the last and previous inventory;
33. Bank documents (statements with attachments). Treaties bank account, loan, credit. Collateral agreements;
34. Documents for the acquisition and disposal of securities. Securities accounting book;
35. Calculations for wages employees with the application of all documents - the basis for the calculation: time sheets, sick leave, vacation pay calculation; documents justifying the application of income tax benefits, labor agreements, work contracts, applications, personal accounts, tax cards, any other documents related to payroll and calculation income tax. Book of account of depositors. Loan agreements and others;

In order to organize an audit within the established time frame, it is necessary to carry out certain preparatory procedures.

The process of organizing an audit includes several stages.

First of all, the auditor needs to draw up a clear plan for the upcoming work. That is, to plan the audit in such a way as to conduct it effectively within the time frame established by the contract with the audited company.

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

Important!

In order to organize an audit, it is necessary to select the composition of specialists, appoint the head of the audit team.

When appointing the composition of specialists to conduct an audit, it is necessary to take into account:

working time budget for each section audit program(the time spent by the auditor depends on the scope of the client's activities, the complexity of the audit, the auditor's experience with the audited company, as well as knowledge of the specifics of its activities);

the total period of work of a group of specialists;

qualification level of a group of specialists;

the quantitative composition of the group of specialists;

the need to involve experts in the audit team.

At the same time, skills and professional competence mean:

understanding of an audit engagement and practical experience in performing audit engagements of a similar nature and complexity through training and previous work;

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

knowledge in the field information technologies;

knowledge of the industries in which the client operates;

ability to form professional judgment;

understanding of the quality control principles and procedures established in audit company(Clause 18 of Standard No. 7 “Quality control of the performance of audit assignments”).

Members of the audit team should understand the goals and objectives of the audit engagement they are performing.

Important!

This organization of the audit helps to ensure that the "bottlenecks" of the audit have been given the necessary attention to identify potential problems. In this case, the organization of the audit will be carried out at optimal costs, efficiently and in a timely manner.

A clear plan for the organization of the audit will effectively distribute the work among the auditors involved in the audit, as well as coordinate such work.

The head of the group agrees in advance the work schedule of the group of specialists at the client, taking into account the location and wishes of the client.

The organization of the audit also includes the development of a program for the preparation and conduct of the audit.

When organizing an audit, it should be understood that, due to its limited time, a selective method of collecting information should be used.

The auditor can:

select all elements (solid check);

select specific (certain) elements;

select individual elements (form an audit sample).

The choice of sampling method or combination of sampling methods depends on the circumstances of the audit, in particular audit risk and audit effectiveness. In doing so, the auditor should be satisfied that the methods used by him are reliable in terms of obtaining sufficient appropriate audit evidence to achieve the objectives of testing.

The collection of audit evidence in the course of the audit is carried out using audit procedures. In doing so, the auditor completes working documentation, which is approved by internal auditing standards.

Working papers are used:

when planning and conducting an audit;

when exercising current control and checking the work performed by the auditor;

to record audit evidence obtained in order to confirm the auditor's opinion (clause 4 of Standard No. 2 “Audit Documentation”).

In the process of conducting an audit, the team leader constantly exchanges information with the client in order to promptly correct the identified violations during the audit.

Prior to issuing an audit opinion, the audit partner should review the auditor's working papers and discuss the work with the audit team members to ensure that the audit evidence obtained is sufficient and appropriate to support the conclusions drawn.

First, the draft written information (report) of the auditor is sent to the client for review in order to draw up possible adjustments (clarifications), objections, as well as the submission of additional documents on these violations. This circumstance is due to the fact that the audit is carried out on a selective basis, as well as other limitations inherent in the audit, and there is a risk that some of the documents may not fall into the auditor's field of vision.

In the process of approving the draft report, the auditor accepts (or does not accept) the client's objections, offers existing options for correcting errors in the accounting and tax reporting. The auditor informs the client about the possible consequences of not correcting the misstatements in the statements.

The final version of the report, along with auditor's report transferred to the client.