KIZILOV A.N., VASILENKO A.A.
Sequential decomposition of the notion «audit procedures» with element split out was performed to establish interrelation between the background for preparation of accounting reports and audit procedures.
The publication states that a distinguished feature of a professional judgement expected from an auditor is that its professional preparation, knowledge and experience result from development of competencies required for a rational judgement.
The publication covers certain aspects of state control (supervision) over self-regulating auditors’ organisations which regulate external control over audit quality. The publication concludes on the necessity to further improve the audit legal basis.
The publication states that quality and quantity of potential investments depend on the extent to which Russia will be able to establish a developed and transparent system of financial reporting in the capital market.
The publication covers the concept of a risk oriented approach and challenges of building internal controls in audit firms as an effective defence mechanism when performing audit as income generating activities
The publication covers certain issues related to substantiating audit technique and procedures, consolidation of audit results
The publication substantiates the necessity for expenditure/cost classification to form and analyse production cost, to determine ways to reduce expenditures and increase profit, profitability and to reduce cost of goods manufactured. The publication covers certain modern systems that manage cost of goods manufactured
The publication covers application of assessment results for the risk of material misstatements in the course of an audit which arise in information systems such as accounting.