Classification of international auditing standards. International Standards on Auditing and Assessment of the Quality of Audit Services (Loseva N.A.) International Standards on Auditing References

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Bibliography

1. Federal Law “On Auditing Activities” No. 307-FZ dated December 30, 2008

2. Federal rule (standard) of audit activity No. 1 "The purpose and basic principles of the audit of financial (accounting) statements", approved by the Government Russian Federation No. 696 of September 23, 2002

3. Federal Rule (Standard) of Auditing Activities No. 2 “Audit Documentation”, approved by Decree of the Government of the Russian Federation No. 696 of September 23, 2002

4. Federal rule (standard) of audit activity No. 3 "Audit planning", approved by the Decree of the Government of the Russian Federation No. 696 of September 23, 2002

5. Federal rule (standard) of audit activity No. 4 "Materiality in audit", approved by the Decree of the Government of the Russian Federation No. 696 dated September 23, 2002

6. Federal Rule (Standard) of Auditing Activity No. 7 “Quality Control of the Performance of Audit Tasks”, approved by Decree of the Government of the Russian Federation No. 405 dated July 4, 2003

7. Federal rule (standard) of audit activity No. 8 “Understanding the activities of the audited entity, the environment in which it is carried out, and assessing the risks of material misstatement of the audited financial (accounting) statements”, approved by Decree of the Government of the Russian Federation No. 405 dated July 4, 2003.

8. Federal Rule (Standard) of Auditing Activity No. 9 “Related Parties”, approved by Resolution of the Government of the Russian Federation No. 405 dated July 4, 2003.

9. Federal rule (standard) of audit activity No. 10 "Events after the reporting date", approved by the Decree of the Government of the Russian Federation No. 405 dated July 4, 2003

10. Federal Rule (Standard) of Auditing Activity No. 11 “Applicability of the Assumption of Business Continuity of the Audited Entity”, approved by Resolution of the Government of the Russian Federation No. 405 dated July 4, 2003

11. Federal rule (standard) of audit activity No. 12 “Agreement of the conditions for conducting an audit”, approved by Decree of the Government of the Russian Federation No. 532 dated October 7, 2004

12. Federal rule (standard) of audit activity No. 16 "Auditor's sample", approved by the Decree of the Government of the Russian Federation No. 532 of October 7, 2004

13. Federal Rule (Standard) of Auditing No. 17 “Obtaining Audit Evidence in Specific Cases”, approved by Decree of the Government of the Russian Federation No. 228 dated April 16, 2005.

14. Federal Rule (Standard) of Auditing Activity No. 18 “Obtaining by the Auditor of Confirming Information from External Sources”, approved by Decree of the Government of the Russian Federation No. 228 dated April 16, 2005

15. Federal rule (standard) of audit activity No. 19 "Peculiarities of the first audit of an audited entity", approved by the Decree of the Government of the Russian Federation No. 228 dated April 16, 2005

16. Federal Rule (Standard) of Auditing Activity No. 20 "Analytical Procedures", approved by Decree of the Government of the Russian Federation No. 228 dated April 16, 2005

17. Federal Rule (Standard) of Auditing Activity No. 21 “Peculiarities of Auditing Estimated Values”, approved by Decree of the Government of the Russian Federation No. 228 dated April 16, 2005

18. Federal Rule (Standard) of Auditing Activity No. 22 “Disclosure of information obtained as a result of the audit to the management of the audited entity and representatives of its owner”, approved by Decree of the Government of the Russian Federation No. 228 dated April 16, 2005

19. Federal rule (standard) of audit activity No. 23 "Statements and explanations of the management of the audited entity", approved by the Decree of the Government of the Russian Federation No. 228 dated April 16, 2005

20. Federal rule (standard) of audit activity No. 24 “Basic principles of federal rules (standards) of audit activity related to services that can be provided by audit organizations and auditors”, approved by Decree of the Government of the Russian Federation No. 523 of August 25, 2006

21. Federal rule (standard) of audit activity No. 25 “Accounting for the characteristics of an audited entity whose financial (accounting) statements are prepared by a specialized organization”, approved by Decree of the Government of the Russian Federation No. 523 dated August 25, 2006.

22. Federal rule (standard) of audit activity No. 26 “Comparable data in financial (accounting) statements”, approved by the Decree of the Government of the Russian Federation No. 523 dated August 25, 2006

23. Federal Auditing Rule (Standard) No. 27 “Other Information in Documents Containing Audited Financial (Accounting) Statements”, approved by Decree of the Government of the Russian Federation No. 523 dated August 25, 2006.

24. Federal rule (standard) of audit activity No. 28 “Using the results of the work of another auditor”, approved by the Decree of the Government of the Russian Federation No. 523 dated August 25, 2006.

25. Federal rule (standard) of audit activity No. 29 "Review of the work of internal audit", approved by the Decree of the Government of the Russian Federation No. 523 of August 25, 2006

26. Federal Rule (Standard) of Auditing Activity No. 30 “Performance of Agreed Procedures with regard to Financial Information”, approved by Decree of the Government of the Russian Federation No. 523 dated August 25, 2006.

27. Federal rule (standard) of audit activity No. 31 “Compilation of financial information”, approved by the Decree of the Government of the Russian Federation No. 523 dated August 25, 2006

28. Federal Rule (Standard) of Auditing Activities No. 32 “Use by the Auditor of the Results of an Expert’s Work”, approved by Decree of the Government of the Russian Federation No. 557 dated July 22, 2008.

29. Federal Rule (Standard) of Auditing Activity No. 33 “Review of Financial (Accounting) Statements”, approved by Resolution of the Government of the Russian Federation No. 557 dated July 22, 2008.

30. Federal Rule (Standard) of Auditing Activity No. 34 “Quality Control of Services in Audit Organizations”, approved by Decree of the Government of the Russian Federation No. 557 dated July 22, 2008.

31. Federal Auditing Standard (FSAD 1/2010) "Auditor's report on accounting (financial) statements and formation of an opinion on its reliability", approved by order of the Ministry of Finance of Russia No. 46n dated May 20, 2010

32. Federal Auditing Standard (FSAD 2/2010) "Modified opinion in the auditor's report", approved by order of the Ministry of Finance of Russia No. 46n dated May 20, 2010

33. Federal Auditing Standard (FSAD 3/2010) "Additional Information in the Audit Report", approved by Order of the Ministry of Finance of Russia No. 46n dated May 20, 2010.

34. Federal Auditing Standard (FSAD 4/2010) “Principles for external quality control of the work of audit organizations, individual auditors and requirements for the organization of such control”, approved by order of the Ministry of Finance of Russia No. 16n dated February 24, 2010

35. Federal Auditing Standard (FSAD 5/2010) “The Auditor’s Responsibilities to Consider Fraud in the Course of an Audit”, approved by Order of the Ministry of Finance of Russia No. 90n dated August 17, 2010

36. Federal Auditing Standard (FSAD 6/2010) “The Auditor’s Responsibilities for Reviewing the Compliance of the Audited Entity with the Requirements of Regulatory Legal Acts during the Audit”, approved by Order of the Ministry of Finance of Russia No. 90n dated August 17, 2010.

37. Federal Auditing Standard (FSAD 7/2011) "Audit Evidence", approved by Order of the Ministry of Finance of Russia No. 99n dated August 16, 2011

38. Federal Auditing Standard (FSAD 8/2011) “Peculiarities of the audit of statements prepared according to special rules”, approved by order of the Ministry of Finance of Russia No. 99n dated August 16, 2011.

39. Federal Auditing Standard (FSAD 9/2011) “Peculiarities of auditing a separate part of the reporting”, approved by order of the Ministry of Finance of Russia No. 99n dated August 16, 2011

40. The rule (standard) of audit activity "Checking forecast financial information" was approved by the Audit Commission under the President of the Russian Federation on August 20, 1999, protocol No. 5

41. The rule (standard) of audit activity "Requirements for internal standards of audit organizations", approved by the Audit Commission under the President of the Russian Federation on October 20, 1999, protocol No. 6

42. GOST R 7.0.5-2008. "System of standards on information, librarianship and publishing. Bibliographic link. General requirements and rules for drawing up "

43. GOST R 7.0.12-2011 “System of standards for information, librarianship and publishing. Bibliographic record. Abbreviation of words and phrases in Russian. General requirements and rules»

44. GOST 8.417-2002 “State system for ensuring the uniformity of measurements. Units"

46. ​​Methodological recommendations for collecting audit evidence of the reliability of indicators of inventories in financial statements (approved by the Audit Council under the Ministry of Finance of Russia, protocol No. 25 of April 22, 2004)

47. Methodological recommendations for checking income tax and liabilities to the budget when conducting an audit and providing related services (approved by the Audit Council under the Ministry of Finance of Russia, protocol No. 25 dated April 22, 2004)

48. Guidelines for collecting audit evidence when checking value added tax calculations (approved by the Audit Council under the Ministry of Finance of Russia, protocol No. 18 dated October 21 - 22, 2003)

49. Methodological recommendations for checking income tax and liabilities to the budget when conducting an audit and providing related services (approved by the Audit Council under the Ministry of Finance of Russia, protocol No. 25 dated April 22, 2004)

50. Audit. Theory and practice: a textbook for bachelors / N. A. Kazakova, G. B. Polisyuk [et al.]: ed. ed. N. A. Kazakova. - M.: Yurayt Publishing House, 2015. - 385 p.

51. Audit: a textbook for higher students vocational education students in the specialty 080109 "Accounting, analysis and audit" and for the preparation of bachelors in the areas of study 080100 "Economics", 080200 "Management", (profile "Managerial and financial accounting"): a textbook for undergraduate students studying in the direction of "Economics" » / R. P. Bulyga and others; ed. R. P. Bulygi; Financial un-t. under the Government of the Russian Federation. - M.: UNITI, 2015. - 431 p.

52. Auditor activity // Official site of the Ministry of Finance of the Russian Federation. URL: www.minfin.ru/ru/accounting/audit/ (accessed 01.01.2016).

53. Bychkova, S. M. Audit: textbook. allowance / S. M. Bychkova, E. Yu. Itygilova; ed. Ya. V. Sokolova. - M.: Master, 2009. - 462 p.

54. Gutsait, E. M. Audit and other sciences / E. M. Gutsait; Federal State educational institution of higher education prof. education “Acad. Budget and Treasury of the Ministry of Finance of the Russian Federation”. - M.: VividArt, 2011. - 373 p.

55. Erofeeva, V. A. Audit: textbook. manual for bachelors / V. A. Erofeeva, V. A. Piskunov, T. A. Bityukova; St. Petersburg State. University of Economics and Finance. - 2nd ed., revised. and additional - M.: Yurayt, 2014. - 640 p.

56. Parushina, NV Audit: the basics of audit, technology and methods of auditing: textbook. manual for students studying in the specialties "Accounting, analysis and audit", "Finance and credit", "Taxes and taxation" / N. V. Parushina, E. A. Kyshtymova. - 2nd ed., revised. and additional - M.: Forum: INFRA-M, 2013. - 560 p.

57. Podolsky, V. I. Fundamentals of audit: textbook. manual on the program of training and certification of professional accountants: basic course / V. I. Podolsky, A. A. Savin, L. V. Sotnikova; Institute of prof. accountants and auditors of Russia. - 4th ed., revised. and additional - M.: Binfa, 2009. - 187 p.

58. Rogulenko, T. M. Fundamentals of audit: a textbook for students of higher educational institutions studying in the specialties 060500 - Accounting, analysis and audit, 060600 - Finance and credit, 060600 - World economy, 351200 - Taxes and taxation / T. M Rogulenko, S.V. Ponomarev. - 4th ed., revised. and additional - M.: FLINTA; NOU VPO "MPSU", 2013. - 668 p.

59. Sannikova, M. O. Fundamentals of audit: a textbook for students of higher educational institutions / M. O. Sannikova. - Saratov, Letter: 2015. - 301 p.

60. Suits, V.P. Audit: textbook. student allowance educational institutions secondary vocational education, students in the specialties "Economics and accounting" and "Taxes and taxation" / V. P. Suits, V. A. Sitnikova. - 3rd ed., erased. - M.: KnoRus, 2012. - 167 p.

61. Theory of audit: textbook. manual for students studying in the direction of "Economics" / S. I. Zhminko and others; resp. editors: Oksana Morozova, Natalya Kalinicheva. - Rostov n / a: Phoenix, 2012. - 443 p.

62. Filipiev, D. Yu. Fundamentals of audit: textbook. manual for students of higher educational institutions studying in the specialties 080109 "Accounting, analysis and audit", 080105 "Finance and credit", 080107 "Taxes and taxation" / D. Yu. Filipiev, N. V. Pislegina. - 2nd ed., revised. - Barnaul: Publishing House of the Altai Academy of Economics and Law, 2012. - 219 p.

Yudina, G. A. Fundamentals of audit: textbook. manual for students studying in the specialties "Accounting, analysis and audit", "Finance and credit", "World economy", "Taxes and taxation" / G. A. Yudina, M. N. Chernykh. - 5th ed., revised. and additional - M.: KnoRus, 2012. - 382 p.

Modern business trends provide for ever closer international cooperation. Financial and accounting statements should be understandable to counterparties, primarily in terms of their content.

In 2017, the Russian Federation saw large-scale changes in domestic audit in the direction of increasing transparency, objectivity and convergence with international standards and standards.

Consider the features of the application of international auditing standards (ISA) in domestic enterprises.

What are MSA

International Standards audit(ISA), or in international transcription (English) International Standards on Auditing (ISA) - a set of documentation containing professional requirements and conditions for conducting audit activities. They are published by the International Accounting Association, through the Committee on International Standards on Auditing and Assurance of Information.

In the Russian Federation, only a part of these standards is used, but their set for use in domestic audit is gradually expanding, especially large-scale dynamics occurred in 2017.

IMPORTANT! The main difference between ISAs is the priority of content over form: they are not based on rigid regulations, but on flexible principles of relevance, reliability, completeness and neutrality.

ISA classification

The set of international auditing standards consists of documents covering such aspects of the audit:

  • introductory part - the basics of the approach to audit and other activities to confirm the quality of services and the reliability of information, an overview of terminology;
  • general principles of quality control, auditor's responsibilities, basic documentation, information exchange with the business owner;
  • standards aimed at assessing risks and counteracting identified risks;
  • standards aimed at evidence and confirmation of audit information;
  • standards governing the services of external auditors;
  • standards according to which the results of the audit are formulated;
  • special aspects of the audit: analysis financial reporting according to special principles.

If we compare ISAs with Russian auditing standards, we can classify them as follows:

  1. International standards applied in the Russian Federation or close to those.
  2. International standards, whose counterparts in the Russian Federation are significantly different.
  3. ISA, completely not used in the Russian Federation.
  4. Domestic standards, which have no analogues in the ISA.

Main objectives of the International Standards on Auditing

Following international standards in financial reporting and its verification is intended to unify accounting procedures, but at the same time allows you to preserve the national business traditions inherent in the domestic economy. With the help of the results of the ISA audit, it is possible to objectively compare the activities of enterprises in different countries, which is very convenient for international investment.

Some states strictly adhere to the ISA and even accept them as national ones, some others (England, USA, Canada and Sweden) prefer to use their own standards without rejecting international requirements. The third group of countries, including Russia, are developing their own auditing standards, taking as a basis those adopted by the international Committee.

The main goal of developing international standards:

unification of business activities of states with similar economic principles within the framework of the global economy.

It is implemented in two main directions:

  • harmonization of rules and requirements adopted in individual countries for the possibility of better integration into the world economy;
  • raising the level of audit activity to the general economic level (if it is lowered in a particular state).

Changes

In 2017, Orders of the Ministry of Finance of the Russian Federation dated October 24, 2016 No. 192n and dated November 9, 2016 No. 207n "On the Enactment of International Auditing Standards in the Russian Federation" came into force. The first introduced 30 international auditing standards, and the second - 18 more.

They must be applied if the contract for the audit was concluded not earlier than January 1, 2017 (in this case, the audit can still be carried out according to the old standards).

Application of ISA audit in enterprises

Enterprises keep financial statements, and if this happens according to the requirements of IFRS (international financial reporting system), then it should be checked according to international requirements. As a rule, such reporting is carried out, and therefore will be the objects of international audit, by the following organizations:

  • companies that have active foreign partners;
  • legal entities planning their entry into the international economic arena;
  • entrepreneurs looking for foreign investors;
  • organizations lending from foreign banks;
  • enterprises professing the corporate values ​​of international financial associations.

NOTE! Within the framework of domestic legislation, this list necessarily includes credit and insurance companies, non-state pension funds, federal unitary enterprises(according to the list approved by the Government), joint-stock companies whose shares are owned by the state, and any enterprises trading on international stock exchanges.

Why audit according to ISA

To ensure the principle of reliability of financial statements, the legislation requires an audit at least once a year. If a company maintains and publishes reports on international financial standards, then the audit must also be carried out in accordance with international regulations.

Stages of an audit according to ISA

Since the audit is a standardized procedure, it must be carried out according to certain regulations:

  1. Preparatory stage audit includes:
    • assessment of the field of activity of the auditor - the number and composition of the reporting under study;
    • agreement on the conditions of the audit (terms, cost, etc.);
    • conclusion of an audit contract;
    • drawing up a preliminary inspection plan;
    • preparation of responses and documentation in accordance with audit requests.
  2. audit study(collection and evaluation of evidence). The actual check, which includes a study of reporting for the previous year (for an objective comparison of indicators) and for the reporting year. Subject to study:
    • accounting reports;
    • financial documentation;
    • management information.

    3. The audit procedure includes not only the analysis of documents, but also interviews with employees and management, observation, inspection of production facilities and warehouses, etc.

    ATTENTION! Be sure to record all information that could affect the soundness of the auditor's opinion in formulating conclusions.

  3. Formulation of the conclusion. The data is corrected, a report is drawn up and a final audit report is formed. It is provided to recipients interested in the result: counterparties, potential investors, senior management, credit institutions, etc.

NOTE! The report on the results of an audit conducted in accordance with domestic standards may differ significantly from the results of an audit in accordance with ISAs. This is due to the discrepancy between the principles and approaches to evaluation.

Who is eligible to conduct an ISA audit?

At Russian enterprises, audits in accordance with international standards can only be carried out by auditing companies. The requirements for them are determined by law (Federal Law of December 30, 2008 No. 307-FZ “On Auditing”):

  • the organization should not have a field of activity other than audit and related services;
  • the company must be listed in the registers of SROs (self-regulatory organizations);
  • audits should only be carried out by certified specialists.

It is important to choose specialists for auditing according to ISA, taking into account the industry specifics of the enterprise.

Standards allow to regulate the activities of specialists in the field of audit. Note that they are recognized in most countries of the world, as they contribute to the achievement of objectivity in the matter of the audit opinion and the process of creating all the reporting of an enterprise related to the financial sector.

Using them, there possibility to set certain criteria, which are uniform in comparison of the results of providing audit activities. The uniformity of the activity of the audit type is an important condition for ensuring the diversity of methods that are used in practice.

Definition

Based on audit documents, it appears opportunity to create a program which provides training for specialists. Documents act as the main evidence during the trial and determine the measure of responsibility.

With their help, it is possible to establish an approach to the audit, to the scope of the audit, types of reports, methodology, and so on.

In the event that a specialist deviates from the application of the rules during the implementation of his work, he must be ready to explain what was the reason for doing so.

The application of international requirements is very important in the process of performing work. This is because the documents

  1. Allows you to ensure the quality of the inspection.
  2. They help people understand the whole process.
  3. The ability to create an image of this activity.
  4. No need for control government bodies authorities.
  5. Assistance to the specialist in the matter of negotiating with customers.
  6. Providing communication between individual processes.

The documents define the approach to the implementation of audit activities, the scope of the audit, and various related issues. Domestic ones are developed on the basis of international algorithms.

AT general view, the procedure may have a national, domestic or international character. As a result, the overall goal is to create and use packages of internal standards, detailed and regulated requirements for conducting inspections, as well as drawing up conclusions.

How is the classification carried out?

Auditing Standards are documentation, in which the requirements and approaches are formulated in order to successfully carry out this activity.

It is based on curricula to prepare auditors and requirements for conducting examination activities. Their application should contribute to changing economic conditions. As a result, they require regular review.

They are intended to provide a uniform approach on an international scale and development in those countries where their level is significantly lower than that used worldwide.

So, today there is 39 standards. They are divided among themselves into 9 groups and 11 provisions. Them general characteristics next:

  1. Introduction.
  2. Responsibilities.
  3. Planning.
  4. Ensuring internal control.
  5. Audit Evidence.
  6. Use by third parties.
  7. Conclusions and conclusions.
  8. specialized areas.
  9. Related services.

The introduction includes two standards, which set out in the most detail the principles and procedures for the implementation of the work of auditors and the principles of formation. Responsibilities include 8 documents that contain general provisions, including tasks and goals, as well as ensuring quality control.

The third group, which describes planning, provides information on how to implement the audit plan. In this case, three documents are included here.

The Internal Control Group also has three standards. Here, the study of issues that relate to risk assessment and control of the audit in the field is carried out. information technologies. Audit evidence refers to 11 documents that explain the relationship between the purpose of evidence and the methods of conducting audits.

The group of application of the work of third parties includes three auditing standards dedicated to the use and provision of additional services of experts, other auditors, as well as materials for conducting financial audits. The conclusions and conclusions include 4 documents. This paragraph is devoted to the completion of the audit and drawing up an audit opinion.

Special areas of audit include two main standards, which are devoted to the preparation of an audit report through the use of special audit engagements and the application of financial information that is expected. The last, ninth group is related services. This includes three standards that are dedicated to services for the audit of financial statements.

Since 2017, the Russian Federation has been operating 30 international standards. Among them, they include:

  1. Agree on the implementation of the audit knowledge process.
  2. Quality control during the procedure.
  3. Creation of documentation.
  4. Creation of final financial statements.
  5. Informing about key issues.
  6. Opinion about conclusions.

In addition, starting this year, the degree of responsibility for specialists has significantly increased. The Ministry of Finance of Russia proposes to punish auditors not only with fines, but also with criminal liability for the fact that they issued a conclusion that does not correspond to reality.

A more detailed conclusion is also drawn up, which complies with international standards. This form of conclusion may contain an assessment of the company's reporting and pay attention to the most important points at work. Thus, one of the new forms suggests indication of extended information for accounting specialists and other interested parties.

First of all, they include shareholders, persons on the board of directors, and others who make key decisions in the company's activities.

The new requirements have already been able to affect both individual specialists and organizations that are being audited. That is why, before compiling documentation, it is necessary to fully familiarize yourself with the rules that have been introduced since January 2017.

Professional internal

In accordance with the legislation of the Russian Federation, internal company rules and standards of activity that function in an organization engaged in audit activities include interior design standards.

Professional internal standards are documents that detail and regulate certain requirements that ensure the implementation and execution of audit documentation. They are accepted and approved by audit organizations in order to ensure the efficiency of work and compliance with certain rules for conducting financial work.

The organization must perform work on the formation of a package of intra-company standards. They reflect their own approach to the checks that are carried out. The result is the drawing up of an opinion based on the principles of organization and conduct of audit activities.

Intra-company standards allow for the regulation of the activities of auditors within the company and provide a number of additional foundations in order to regulate real and potential conflicts that arise during the work process.

The auditing standards that are accepted within the company include those that are approved in the manner that was established by law or standards, instructions, developments of a methodological type, manuals and other types of documentation. They should be required to use in audit organizations. The fact is that such documents allow you to reveal an internal approach to the implementation of the audit. Together they represent process of describing the complex view approach to the organization and technologies of auditing.

It should be noted that such standards are approved by the head of the audit company, unless internal documents require anything else. Documents may be revised if changes are made in the current legislation of the country, in specializations, or when the owner changes.

Thus, it is extremely important to observe the correct execution of work on financial audit businesses or organizations. To do this, it is recommended to seek help from those companies that provide services of this type for a long period of time and, accordingly, know the regulatory framework, legislation and the nuances of performing audit work.

If this issue is studied independently and in depth, then it will take a lot of time. In addition, changes are made annually to the current legislation of the Russian Federation.

The Ministry of Finance of Russia, by its order of October 24, 2016 N 192n, put into effect 30 international auditing standards. They will cover accounting quality control, audits of financial information, review engagements, and other audit-related services. These standards were recognized by the Government of the Russian Federation in the summer of 2015, and since that moment the International Federation of Accountants has begun the official translation into Russian of all documents containing international auditing standards. All of them have passed the necessary examinations and are now approved for use in Russia.

List of international auditing standards approved by the Ministry of Finance

  1. International Quality Control Standard 1, Quality Control in Auditing Firms that Perform Audits and Reviews of Financial Statements and Other Assurance and Related Services Engagements;
  2. International Standard on Auditing 200 "Key Objectives of the Independent Auditor and Conducting an Audit in Accordance with International Standards on Auditing";
  3. International Standard on Auditing 240, The Auditor's Responsibilities Regarding Fraud in an Audit of Financial Statements;
  4. International Standard on Auditing 250 Considering Laws and Regulations in an Audit of Financial Statements;
  5. International Standard on Auditing 265 Communications to those charged with governance and management of deficiencies in internal control;
  6. International Standard on Auditing 300, Planning an Audit of Financial Statements;
  7. International Standard on Auditing 315 (Revised) Identifying and Assessing the Risks of Material Misstatement by Understanding the Entity and Its Environment;
  8. International Standard on Auditing 320 Materiality in Planning and Conducting an Audit;
  9. International Standard on Auditing 330 Audit Procedures in Response to Assessed Risks;
  10. International Standard on Auditing 402 "Peculiarities of auditing an organization using the services of a service organization";
  11. International Standard on Auditing 450 "Evaluation of misstatements identified during the audit";
  12. International Standard on Auditing 500 Audit Evidence;
  13. International Standard on Auditing 501 "Peculiarities of Obtaining Audit Evidence in Specific Cases";
  14. International Standard on Auditing 505 External Confirmations;
  15. International Standard on Auditing 520 Analytical Procedures;
  16. International Standard on Auditing 530 Audit Sample;
  17. International Standard on Auditing 550 Related Parties;
  18. International Standard on Auditing 560 "Events after the reporting date";
  19. International Standard on Auditing 610 (Revised 2013) Using the Work of Internal Auditors;
  20. International Standard on Auditing 620 Using the Work of an Auditor's Expert;
  21. International Report on Auditing Practices 1000 "Peculiarities of Auditing Financial Instruments";
  22. International Standard on Reviews 2400 (Revised) Engagements for Reviews of Historical Financial Statements;
  23. International Standard on Reviews 2410 Review of Interim Financial Information Performed by the Entity's Independent Auditor;
  24. International Standard for Assurance Engagements 3000 (Revised) Assurance Engagements other than Audits and Reviews of Historical Financial Information;
  25. International Standard for Assurance Engagements 3400 Review of Forward-Looking Financial Information;
  26. International Standard for Assurance Engagements 3402, Service Auditor's Assurance Report on the Service Organization's Controls;
  27. International Assurance Engagement Standard 3410 Assurance Engagements for GHG Emissions Reporting;
  28. International Assurance Engagement Standard 3420, Assurance Engagements Relating to the Compilation of Pro Forma Financial Information Included in a Prospectus;
  29. International Standard for Related Services 4400 "Assignments for the performance of agreed-upon procedures for financial information";
  30. International Standard for Related Services 4410 (Revised) Compilation Tasks.

The order on the approval of international auditing standards was registered by the Ministry of Justice on November 10, 2016 and will enter into force 10 days after its official publication. However, the standards themselves will begin to apply starting from the year following the year in which they entered into force, namely from January 1, 2017. This is determined by the Federal Law of December 30, 2008 N 307-FZ "On Auditing".

Since January 1, 2017, 30 International Auditing Standards (ISAs) have been put into effect on the territory of the Russian Federation, in accordance with the order of the Ministry of Finance N 192n. Also, by Order of the Ministry of Finance No. 207n, from January 1, 2017, another 18 new audit standards were introduced.

The list of international auditing standards includes:

Coordination of the terms of audit assignments;

Quality control during the audit of financial statements;

Audit documentation;

Forming an opinion and drawing up an opinion on the financial statements;

Informing about key audit issues in the auditor's report;

Modified opinion in the auditor's report, etc.

All this will increase the complexity of the audit by 30-40%, due to the increasing number of audit procedures in accordance with the requirements of ISA, the need to fill out new forms and tables and other working documents.

Also in the plans of legislators in 2017 to increase the responsibility of auditors. The Ministry of Finance proposes to punish them not only with fines, according to the Code of Administrative Offenses, but also to introduce criminal liability for issuing a knowingly false audit report. The corresponding draft is posted for public discussion on the website of the federal portal of NPA projects.

Instead of the usual form of an auditor's report on several sheets of standard text, for all new statutory audit contracts concluded from January 1, 2017, a more informative audit report is drawn up in accordance with international statutory audit standards. The new form of the audit report under ISA will contain not only an assessment of the company's financial statements, but also pay attention to the most important points in the activities of the audited entity, including what attracted the most attention of the auditor, where the auditor sees the most significant risks for business, etc.

Thereby new form AZ assumes extended information not only for accounting, but also for external and internal interested users: shareholders, board of directors, etc., that is, a wider range of people who make decisions about a business development strategy.

Thus, from January 1, 2017, the new ISA requirements will affect both the auditors and the audited companies. Significantly increases the amount of data required to analyze the activities of audited organizations, as well as increasing the degree of publicity of the results of the audit.

Recall that legally significant information about the facts of activity is entered into the Unified Federal Register. legal entities, including information about the mandatory audit. At the same time, the audit customer is obliged to disclose the circumstances that have a significant impact on the reliability of the statements listed in the audit report. Information must be entered into the Register within three working days from the date of occurrence of the relevant fact (paragraph 2, clause 9, article 7.1 of Law No. 129-FZ). If this deadline is violated, officials of the organization may be held administratively liable, up to and including disqualification.

Undoubtedly, the disclosure of additional data in the audit report will allow investors and counterparties of companies to make more informed business decisions. However, as a consequence, we should expect not only an increase in the quality in business risk assessment, but also an increase in the cost of an audit from 2017. In addition, financial risks increase, since an increase in the level of transparency of the company's activities and the inclusion in the audit report of all identified business risks will automatically lead to an increase in the cost of bank loans for companies.

International Standards on Auditing (ISA) also have long-term implications for business. It is planned that from 2018 the IFTS will be able to require auditors to disclose audit secrecy. A draft federal law on amendments to articles 82 and 93.1 of the first part of the Tax Code of the Russian Federation has been posted for public discussion on the federal portal of NLA projects regulation.gov.ru. When conducting tax control it will be allowed to collect, store, use and disseminate information about the taxpayer (fee payer, payer of insurance premiums, tax agent) received from audit organizations and individual auditors.

An official of a tax authority will have the right to demand from auditors documents (information) received by them during audits and rendering other audit services that serve as grounds for the calculation and payment (withholding, transfer) of tax (fee) by an organization. These documents may be requested by the tax authority if they are not submitted in the prescribed manner by the taxpayer himself.

The current version of the Tax Code does not yet allow the collection, storage, use and dissemination of information about taxpayers obtained in violation of the requirement to ensure the confidentiality of information constituting professional secrecy of other persons, in particular audit secrecy, while exercising tax control.

The responsibilities of an accountant are increasingly accounting. It is no secret that even now in many companies the duties of the chief accountant are not limited exclusively to financial statements and filing tax returns. An accountant is required to assess tax risks and consequences of transactions, tax and financial planning, which leads to increased responsibility and increased risks for professional reputation.

If the audit contract was concluded before January 1, 2017, then the audit organization has the right to audit the accounting (financial) statements and draw up an audit report in accordance with the auditing standards that were in force before the entry into force of the international audit. Under agreements concluded after January 1, 2017, the new international auditing standards in Russia are applied when auditing accounting (financial) statements drawn up for any reporting period.

With the introduction of ISAs, it is important for companies to take seriously the timing of the audit of financial statements, since during the course of the audit a sufficient number of questions usually arise, and sometimes the need to make corrections to the accounting. It is advisable not to schedule an audit for the last days before the submission of accounting or tax reports, when the accounting department is already heavily loaded.

It would be preferable to audit the financial statements of 2017 according to Russian standards, having concluded an agreement before the end of 2017. Arguments in favor of this are the lack of a clear regulation of the actions of the parties to the contract for the provision of audit services under the new rules, a noticeable increase in labor intensity and cost of services that are inevitable with such global changes in the audit industry.

The best option is to conduct an audit for the year in two stages (based on the results of 9 months and for the year). In this case, the auditors will perform almost the entire amount of work before the end of the reporting year, which will allow the organization to avoid haste, take into account their conclusions and recommendations in order to approach the annual report without distortions and accounting errors.

As you know, with significant distortions in accounting, the audit report may be negative, which will require the organization to additional costs associated with correcting the identified violations. Carrying out the bulk of the work based on the results of reporting for 9 months will help both the accounting department and auditors to avoid these troubles. And even having received a report with a list of significant errors made in the preparation of reports for 9 months, the organization will have time to make the necessary corrections to the accounting and receive a positive audit report at the end of the year.

The transition to ISA is aimed at reforming the auditing activities in Russia, improving the quality of reporting and financial information provided to the external market. Innovations will affect not only auditors, but also companies subject to mandatory audit. We will solve the tasks set for auditors and business together, putting quality and professionalism as the basis for cooperation.

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