Accounting for government grants, subventions and budget loans and disclosure of data on government assistance are explained in financial statements using specific references and examples
The author summarises key requirements of the Federal Law «On Consolidated Financial Statements» and scope of its application, answers to frequently asked questions on practical application of the Law
The main attention is given to audit of deposit transactions which is really topical considering increased importance of liquidity assessment in the current environment to ensure financial stability of credit institutions under crisis conditions. The author considered difficulties faced by auditors when processing personal data of these bank depositors
The author compares the transformation method and parallel accounting on several criteria: accuracy of data, possibility of data analysis, audit trail (verifiability of data), prompt data formation, adjustment of IFRS data upon changes in RAS data, possibility of accounting and reporting in various/different currencies, amount of manual labour when working with the system
MONKH-OCHIR L., ONORZHARGAL A.
The authors consider certain issues of internal audit development and status in Mongolia, analyse legal aspects of internal audit regulation and existing challenges
The author describes misstatements of financial statements that should be treated by auditors as material when expressing an opinion on its fairness
BOIKOV V.M., DVOINISHNIKOV V.V.
The authors have analysed issues of credit institutions connected with specifics of accounting starting from 2013 and formation of accounting policies
The article summarises results of external checks of audit organisations carried out by Rosfinnadzor. Review materials are classified along the following areas: assessing quality during completion of a separate task; compliance with quality control requirements for an audit organisation; compliance with ethic requirements; audit. The article is recommended to executive officers and experts responsible for internal control of audit organisations' quality.
The author considers important aspects of mandatory audit of accounting reports (financial statements) for 2012 and certain issues on disclosure of information in annual accounting reports (financial statements). An information summary based on audit results will be useful to both auditors and audited entities