auditing standards. International Auditing Standards

International Standards on Auditing (ISA) are documents that form uniform requirements, subject to which an appropriate level of quality of the audit and related services is ensured.

ISAs contribute to the development of the audit profession in those countries where the level of professionalism is below the global level, form uniform approaches to auditing.

ISAs are intended for use in an audit of financial statements, but they can be adapted to audit other information.

The structure of the ISA includes:

Introduction, which reflects the purpose and objectives of the auditor, as well as definitions of the most important terms used;

Sections that set out the essence of the standard;

Application (for some standards).

The need for ISA is due to the fact that there is an integration of countries with their national accounting systems and their financial statements into the world system. ISAs are designed to regulate the unity of the organization, order and execution of procedures, as well as the results of audit activities around the world. However, ISAs do not cancel national standards (the provisions that exist in a number of countries of the world economy). In world practice, there are three approaches to the application of international auditing standards (ISAs):

Are taken into account by audit organizations in countries that have their own national standards (for example, in Canada, the UK and the USA);

They are used as a basis for developing their own similar standards (for example, in Australia, Brazil, Holland, Russia);

Perceived as national in those countries where it is decided not to develop their own standards (for example, Malaysia, Nigeria).

International Auditing Standards (ISA) are intended for use in the audit of accounting (financial) statements. They should only be applied to essential aspects. In addition, ISAs, adapted as needed, are applied in the provision of audit-related services.

The main role in the development of audit standards belongs to the International Federation of Accountants (IFAC).

The International Federation of Accountants is an international organization representing the accounting profession. The standards are developed by IFAC committees. The committees maintain processes that promote the development of high quality standards that represent the public interest, while respecting the principles of transparency, efficiency and effectiveness.

Committee on international auditing standards and Expressions of Assurance (CIASAS) - develops International Standards on Auditing (ISA).

The CICA is a standing committee of the Council of the International Federation of Accountants. Members of the IFAC are appointed by the member organizations of IFAC in countries chosen by the IFAC Council. Representatives who are part of the CMAWAS must be members of one of the organizations that is a member of the IFAC. In order to ensure a wide diversity of views, the sub-committees of the CMEA can include individuals from countries not represented in the CMAP.

Standards issued by the IAMAS include 36 International Standards on Auditing(ISA) and 1 International Quality Control Standard (ISQC).

According to the charter, the IFAC sets as its main task "the development and strengthening of worldwide coordination of the accounting profession and unified accounting standards."

The IFAC aims to ensure uniformity in audit practice and related services by issuing international standards governing the activities of audit firms and auditors.

The IFAC provides wide access to its guidelines, providing the opportunity for anyone to download all publications free of charge from the IFAC website (http://www.ifac.org) and encouraging its full and associate members, regional accounting bodies, standards developers, regulators and others make links from their websites or printed materials to publications presented on the IFAC website.

All standards, guidelines, draft regulations and other documents of the International Federation of Accountants are copyrighted by the International Federation of Accountants.

The current list of international auditing standards ISA (as of February 20, 2011) is presented in Appendix 1.

It should be noted that the standards developed by the IFAC are not binding on countries, regardless of membership in the federation. In each country, the audit of financial and other information is regulated to a greater or lesser extent by national regulations.

The Committee on International Auditing Practices, supported by the IFAC Council, pays special attention to the study of national auditing standards and related services - their form, content and differences.

After studying and summarizing the information received, the IAMAS prepares and publishes International Standards on Auditing, intended for adoption at the international level.

The mechanism for developing international audit standards is as follows:

1. The CIASB selects a topic for detailed study by a subcommittee designated for this purpose from the committee;

2. The Sub-Committee reviews pre-collected information in the form of regulations, research recommendations, standards or regulations issued in countries participating in the IFAC or regional professional organizations;

3. The Subcommittee develops a draft regulation and submits it for consideration to the CMEA;

5. The draft regulation is sent for study and comments to the member countries of the IFAC, as well as international organizations, the circle of which is determined by the ICAEA;

6. The comments are considered by the IFAC sub-committee charged with the development of the standard, and the draft, prepared taking into account the comments, is again sent to the ICMAS for consideration;

8. The approved draft is issued as the final standard and comes into effect from the moment of publication.

Thus, the significance of the ISA lies in the fact that they contribute to the integration of national audit into international economic relations, ensure the development of the audit profession in accordance with professional requirements world-class, as well as a unified approach to conducting and understanding the audit and its quality.

The International Standards on Auditing (ISAs) have been prepared to harmonize auditing practices internationally and to raise the level of professionalism in countries where the level of auditing is below the global level. The International Federation of Accountants (IFAC), established in 1977, is responsible for developing professional requirements for auditing at the international level.

International standards (norms) of audit (International Auditing Guidelines - IAG) are unified regulatory rules in accordance with which an independent collection of audit evidence should be organized and carried out to confirm the reliability of financial (accounting) statements prepared by audit clients in accordance with international financial reporting standards, as well as formulate a professional audit judgment about the degree of reliability of these statements.

International Standards on Auditing are code numbered. 100 numbers (positions) are allocated for each standardization object, while up to ten additional substandards can be opened for each standard (figure).

Drawing. Objects of international standardization

Federal rules (standards) of audit:

national standard Russian Federation are rules (standards) of audit activity- regulatory documents regulating uniform requirements for the implementation and execution of an audit and related services, as well as for assessing the quality of an audit, the procedure for preparing auditors and assessing their qualifications. They become the basis in court for proving the quality of the audit and determining the degree of responsibility of the auditor.

Federal auditing standards:

1) determine the requirements for the procedure for the implementation of audit activities, as well as regulate other issues provided for by this Federal Law No. 307-FZ;

2) are developed in accordance with international auditing standards;

3) are mandatory for audit organizations, auditors, as well as self-regulatory organizations of auditors and their employees.

Standards are by-laws that contain imperative norms that are mandatory for audit organizations, individual auditors, SROA and their employees. The totality of the current Federal Rules (Standards) of auditing activities provides for a comprehensive financial and legal regulation of public relations emerging in the field of auditing. The auditing standards contain rules governing both private relations of auditors, audit organizations with audited entities, and public relations of professional audit entities with the state and society as a whole.

At present, there is a situation when in the field of audit the FPSAD are adopted and operate (approved by the Government of the Russian Federation); PSAD are partially applied (approved by the Commission on blood pressure); new FSAD appear (approved by the Ministry of Finance).

All federal rules (standards) of audit activity can be divided into three main groups:

1) general rules (standards) of audit , which are a set of professional requirements regarding the qualifications of the auditor, the independence of the auditor's point of view on all issues related to the work performed, etc.;

2) rules (standards) for conducting an audit , which reveal the provisions on the need to plan the work of the auditor, study and evaluate accounting systems, internal control and obtain evidentiary materials, etc.;

3) rules (standards) for compiling a report, which provide an indication of what kind of financial statements are checked during the audit, whether it was drawn up in accordance with generally accepted rules, as well as the delimitation of the functions of the auditor and the administration of the audited entity.

Standard, as well as other normative documents, must contain such indispensable requisites as: number of the standard, date of entry into force, purpose of development, scope of the standard, analysis of the problem, possible procedures for solving the problem. The structure of the document for the design of the standard is as follows: title page, content, the actual text of the standard, annexes to the document (if necessary).

Construction structure and sections of rules (standards)audit. The rules (standards) of audit activity basically have a single structure and contain the following sections:

1) general principles of the standard:

The purpose and necessity of developing this standard,

The object of standardization,

Scope of the standard;

Relationship with other standards;

2) basic concepts and definitions (if necessary) used in the standard - covers new terms and their characteristics;

3) the essence of the standard - a problem is formulated that requires a description, its analysis is carried out and methods of solution are given;

4) practical applications - include various schemes, tables, sample documents, etc.

Auditing rules (standards) are general guidelines to assist auditors in fulfilling their auditing responsibilities. They regulate the basic principles and features of auditing activities, provide a certain level of assurance of the results of the audit if they are observed. Via audit rules(standards) form training programs and uniform requirements for certification of auditors, regulate the quality of audit activities.

Auditing standards are the basis for proving in court the quality of an audit and determining the degree of responsibility of auditors. The standards define general approach to the audit, the scope of the audit, the types of auditors' reports, methodological issues, and the basic principles that auditors should follow. Depending on changes in economic conditions, additions to the generally accepted rules (standards) are issued, which are subject to implementation by auditors. An auditor who allows deviations from comments to standards in his practice is obliged to substantiate the reason for this deviation.

International Standards on Auditing (hereinafter ISA) is a collection of documents united by an idea that determines the direction of the entire ISA system. such an idea, or key concept, is the need in the course of audits to provide or not provide a certain level of assurance. Confidence is the general criterion that, in accordance with the ISA, underlies the choice of one or another type of verification, and after that, the level of responsibility for its results.

On the basis of the currently valid ISAs, a number of Russian analogues have been developed, in general they are combined into several groups:

• 1) international standards close to Russian rules,
• 2) international standards that differ from Russian rules,
• 3) international standards that have no analogues among Russian rules,
• 4) Russian rules that have no analogues in the ISA system.

ISA 120 - refers to documents that have no analogues among Russian rules (standards), today it has been canceled since December 2004. This fact is due to several reasons. First, levels of assurance continue to be the basis that determines the type of review, and this criterion permeates the entire ISA system. Secondly, the Ministry of Finance of Russia does not yet recognize this version of the ISA as an official one, since there is still no official translation of the new edition of the ISA collection in Russia.

When fulfilling their professional duties the auditor performing the audit should be guided by the standards established by the professional audit associations of which he is a member ( professional standards), as well as the following ethical principles:

• - independence;
• - honesty;
• - objectivity;
• - professional competence and conscientiousness;
• - confidentiality;
• - professional behaviour.

The auditor during the audit must show professional skepticism and understand that there may be circumstances that entail a material misstatement of the financial (accounting) statements.

The exercise of professional skepticism means that the auditor critically assesses the weight of the audit evidence obtained and carefully examines audit evidence that contradicts any documents or statements of management or casts doubt on the reliability of such documents or statements.

Professional skepticism should be exercised during the audit, in particular, not to overlook suspicious circumstances, not to make unjustified generalizations in drawing conclusions, not to use erroneous assumptions in determining the nature, timing and extent of audit procedures, as well as in evaluating their results.

The audit is designed to provide reasonable assurance that the financial (accounting) statements considered as a whole do not contain material misstatements. The concept of reasonable assurance is a general approach relating to the process of accumulating audit evidence necessary and sufficient for the auditor to conclude that there are no material misstatements in the financial (accounting) statements, considered as a whole. The concept of reasonable assurance applies to the entire audit process.

ISA 120, Fundamental Principles of ISAs, is a core international standard designed to provide a framework within which International Auditing Standards are issued in relation to the services that auditors can provide. This standard reflects the purpose, procedure for compiling and presenting financial statements of economic entities, as well as a distinction is made between the auditor and related services. ISA 120 notes that related services include reviews, agreed-upon procedures and compilations (the preparation of information on which does not imply that the auditor will be required to express assurance).

Assurance refers to the auditor's belief about the reliability of assertions provided by one party and intended for use by another party. The main thing in this is that:

• 1) in the case of an audit engagement, the auditor provides a high, but not absolute, level of assurance that the information being audited is free from material misstatement. In the audit report (conclusion) is expressed in a positive way in the form of reasonable assurance;
• 2) during a review, the auditor provides an average level of confidence about the information subject to review, does not contain material misstatements - expressed as a negative confidence;
• 3) in the case of an engagement on agreed-upon procedures, the auditor provides only a report on the facts noted without expressing assurance. Users of the report themselves are given the opportunity to evaluate the procedures performed and the facts given in the report, as well as draw their own conclusions based on the work of auditors;
• 4) in the case of a compilation engagement, users of the compiled information receive certain benefits from participating in the work of an accountant, but the auditor does not express any confidence in the conclusion.

According to ISA 120, the audit of financial statements is intended to give the audit organization the opportunity to express an opinion on the correctness of the financial statements in accordance with the law. The auditor's opinion should be based on sufficient and relevant evidence gathered during the audit. The issue of the auditor's involvement in financial information is considered. if his report (conclusion) is attached to it, or the auditor expresses consent to the use of his name in connection with professional activities.

If the auditor becomes aware of the facts of improper use by the subject of procedures of the name of the auditor in connection with financial information, then the auditor must demand the termination of illegal actions on the part of the management of the subject. In addition, the auditor may inform any known third parties of the use of his name inappropriately in connection with said information.

ISA 120 states that at the end of each International Standard there should be a section “Public Sector Perspectives”, it discloses cases requiring clarification or addition, if such a section is missing, then it applies to the audit of financial statements in the public sector in all material respects.

International Standards on Auditing are uniform basic principles which all auditors must follow in the course of their professional activities. They are a criterion for the quality of audit services and allow users to gain some confidence that the auditor will not confirm false information, and the audit will be carried out in good faith.

Knowledge and adherence to the basic principles of the audit contributes not only to a better understanding of the auditor's role, but also to increase the effectiveness of the audit results.

audit auditor check

1. Appointment of International Standards on Auditing (ISA). Basic principles of ISA

international standard audit

The emergence of International Auditing Standards is due to the process of reforming the accounting system in Russia, the transition of domestic accounting practices to international accounting and reporting standards. As a result, there was a need for knowledge of international auditing standards.

Under the conditions of the enterprise market, credit institutions, other business entities enter into contractual relations for the use of property, Money, commercial transactions and investments. The trust in these relationships should be supported by the ability for all participants in transactions to receive and use financial information.

The reliability of the information is confirmed by an independent auditor. Often, owners and, above all, collective owners - shareholders, shareholders, as well as creditors are deprived of the opportunity to independently verify that all the numerous operations of an enterprise, often very complex, are legal and correctly reflected in the statements, since they usually do not have access to accounting records. records, no relevant experience, and therefore require the services of auditors.

Independent confirmation of information about the results of enterprises and their compliance with the law is necessary for the state to make decisions in the field of economics and taxation, as well as for courts, prosecutors and investigators to confirm the reliability of financial statements of interest to them.

The need for the services of an auditor arose in connection with the following circumstances:

the possibility of receiving biased information from the administration in cases of conflict between it and users of this information (owners, investors, creditors);

the dependence of the consequences of the decisions made (they can be very significant) on the quality of the information;

the need for special knowledge to verify information;

frequent lack of access for users to access information to assess its quality.

All these prerequisites have led to the emergence of a public need for the services of independent experts who have the appropriate training, qualifications, experience and permission to provide such services.

For high-quality and successful audit services, there is a need to apply uniform audit rules (standards) in audit practice.

Standard (from the English. Standard) - sample, model, i.e. a set of generally accepted requirements for the work of the auditor, which are of a uniform nature regardless of the areas of activity and regulate the basic principles and features of audit activity.

International Standards on Auditing (ISA) is a collection of documents, united by an idea that determines the direction of the entire ISA system. Such an idea is, the need in the course of the audit, providing a certain level of assurance.

Confidence is the general criterion that, in accordance with the ISA, underlies this or that type of verification and the level of responsibility for its results.

International Standards on Auditing are built systematically, have the same structure, each section is equally important and, accordingly, should be considered as a single integrated structure. ISAs are intended for use in the provision of various audit services, including the audit of financial statements, the audit of other information and the provision of related audit services.

The ISAs detail all the requirements to be met during an audit; how to plan work, get to know the client's business correctly, study accounting and internal control systems, also determine the degree of materiality for errors, explain how to collect and evaluate audit evidence, conduct spot checks, and finally make audit reports.

The application of standards is a kind of guarantee of the quality of audit services.

The International Federation of Accountants (IFAC), an international professional accounting and auditing organization, is directly involved in the development, implementation and promotion of these standards.

The audit should be planned and carried out by the auditor in accordance with the ISA, which contains the main principles, necessary procedures and related recommendations in the form of explanatory material.

The main principles of the ISA are regulated in the section "Basic principles and responsibilities" (200-299).

The audit principles can be grouped as follows:

) the principles that distinguish between audit and audit-related services;

a) ethical principles;

) professional basic principles for auditing financial statements.

In the first group, there are three principles that characterize difference between audit and related services, which are disclosed in the ISA:

the nature of the service;

the level of assurance provided by the auditor;

type of report provided.

Related services include:

review checks;

agreed procedures;

drawing up reports.

In the performance of his professional duties, the auditor should be guided by such ethical principles, which constitute the second group of principles:

independence;

decency, honesty;

objectivity;

professional competence and due diligence;

confidentiality;

professional conduct;

adherence to technical standards.

The third group - basic professional principles- related to the content and methodology of the audit. It includes the following principles:

materiality;

reasonable certainty;

division of responsibility;

documentation;

evidence;

spot check;

understanding the activities of the entity being audited;

professional skepticism;

unification.

The auditor should conduct the audit in accordance with the ISAs, which contain the basic principles and necessary procedures, as well as related guidance, presented in the form of explanatory and other material.

2. Identifying and assessing the risks of material misstatement through understanding the activities of the entity and its environment. Auditor's actions in accordance with the assessed risks

The auditor is required to assess the risks of material misstatement in the financial statements based on knowledge of the entity and its environment, including the internal control system of the subject of ISA 315 “Detecting and assessing the risks of material misstatement through understanding the activities of the company being audited”.

The purpose of this International Standard on Auditing (ISA) is to establish requirements about what is meant by business knowledge, why it is important for the auditor and audit personnel working on an engagement, why it applies to all stages of the audit, and how the auditor acquires and applies this knowledge.

When performing an audit of financial statements, the auditor should have (or obtain) knowledge of the business to the extent that it can identify and understand events, transactions and practices that, in the auditor's judgment, could have a significant effect on the financial statements, either on the audit or on audit report (conclusion).

The standard under consideration contains requirements in terms of:

) risk assessment procedureswhich provide a basis for assessing the risks of material misstatement at the financial statement and assertion levels. Gaining knowledge of the entity and its environment, including internal controls, is a continuous process of gathering, updating and analyzing information throughout the audit.

The auditor should perform a number of risk assessment procedures:

requests to management who have information that can help identify risks of material misstatement;

analytical procedures;

observation and inspection.

auditor's actions.As a result, based on the acquired knowledge, the auditor plans the audit and expresses professional judgment during the audit. In accordance with ISA 315, the auditor considers whether the available information is relevant to identifying the risks of material misstatement and whether the entity's financial statements are prone to material misstatement.

) necessary knowledge of the subject and its environment, including the entity's internal control system, begins with obtaining a general idea of ​​the entity and the environment in which it operates.

The auditor should obtain an understanding of the following:

industry, regulatory and other external factors, including the applicable financial reporting framework;

the nature of the subject (operations, property, types of investments);

goals and strategies of the entity, as well as associated business risks;

the entity's choice and application of accounting policies, whether they are appropriate for its business and consistent with the applicable financial statements;

evaluation and review of financial results.

The control environment includes the functions of management, leadership and its importance to the subject.

auditor's actions.In assessing the control environment, the auditor should obtain an understanding of:

a) whether management maintains and establishes an entity under the control of those charged with governance;

b) do they provide strengths elements of the control environment as a basis for other components of internal control, and whether deficiencies reduce the effectiveness of other components.

The risk assessment process used by the entity. How the management of the entity determines the risks.

auditor's actions.Get an idea of ​​whether the subject has a process:

a) to identify business risks;

b) assessing the significance of risks;

c) estimates of the probability of their occurrence;

d) making decisions about actions in response to such risks.

As a result, the auditor has two options:

the subject has established a risk assessment process and obtain an understanding of such a process;

the entity has not established a risk assessment process and discuss with management whether business risks arise and whether they are significant for financial reporting purposes.

Information system, including relevant business processes related to the preparation and presentation of financial statements, and the exchange of information (classes of transactions; procedures used to record, process, adjust transactions and transfer them; the process of preparing and presenting financial statements; controls related to unauthorized entries).

auditor's actions.The auditor should obtain an understanding of how the entity communicates information, including communications between management and those charged with governance. ;

Control actions are policies and procedures that help ensure that the subject's directives are followed.

auditor's actions.The auditor should obtain an understanding of the control activities that are significant to the audit;

Monitoring of controls, the process of assessing the effectiveness of the functioning of the internal control system over a certain period of time.

auditor's actions.The auditor should obtain an understanding of reasonable actions to monitor internal controls over financial reporting.

) Identification and assessment of the risks of material misstatementto provide a basis for developing and performing further audit procedures:

at the level of financial reporting;

approval level for transaction classes, account balances, and disclosures.

auditor's actions.The auditor should determine whether any of the identified risks is significant by considering the following questions:

whether the risk is a fraud risk;

whether the risk is associated with recent significant events in the field of economics, accounting;

whether the risk is associated with significant transactions with related parties;

about the degree of subjectivity in assessing financial information related to risk;

whether the risk is associated with significant transactions that are outside the normal course of business of the entity.

If the auditor has determined that a significant risk exists, the auditor should obtain an understanding of the entity's controls.

) Documentation, which should reflect:

discussion with the project team, and decisions taken;

key elements knowledge gained in relation to each aspect of the entity and its environment, as well as in relation to the system of internal control;

identified and assessed risks of material misstatement at the financial statement and assertion levels;

identified risks and related controls of which the auditor has gained knowledge.

3. Task 10

The audit program contains a list of procedures for checking cash transactions, presented in the table (column 1). The procedures should be aimed at checking the elements of the prerequisites for the preparation of accounting (financial) statements (column 3):

Audit procedure Designation of connection column 1 and 3 Prerequisite 1. Checking the correctness of filling in the article “Labor costs” of the table “Expenses for ordinary activities (by cost elements)” 1-71. Existence2. Checking the correctness of the calculation and withholding of the amounts of personal income tax2-62. Rights and obligations3. Checking the availability of employment contracts with the personnel of the enterprise3-23. Emergence4. Verification of the signature of the head of the enterprise on orders related to hiring, dismissal, transfer to another job of employees of the enterprise, etc. 4-34. Completeness5. Checking the completeness of the reflection in the accounting of the amounts accrued for payment to employees for all reasons5-45. Valuation6. Conducting an inventory of the amount of the reserve for the upcoming payment of vacations to employees6-16. Precise measurement7. Verification of compliance by the enterprise with the provision established by the collective agreement on bonus payments to employees and the amounts of wages established by the staffing table7-57. Presentation and disclosure

Exercise:graphically (arrows through column 2) or numbers (for example, "1-4") show, to obtain reasonable assurance about which elements of the assertions of the financial statements, each of the listed audit procedures is performed.

Bibliography

Main

1. International Auditing Standards / Ed. J.A. Kevorkova.- M.: Yurayt, 2013.

Additional

1. Arkharova Z.P. International auditing standards: textbook.-method. allowance. - M. Ed. center EAOI, 2011.

Bychkova, S.M. International auditing standards: textbook. allowance / S.M. Bychkova, E.Yu. Itygilova; ed. CM. Bychkova. - M.: Prospect, 2008.

3. International auditing standards: textbook / S.V. Pankova, N.I. Popov. - 3rd ed., with rev. - M.: Master, 2009.

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