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New requirements of international auditing standards. International Auditing Standards and their classification

Auditing Standards are uniform basic principles that auditors must follow in the course of their professional audit activity. They establish uniform requirements for the procedure for carrying out audit activities, the design and assessment of the quality of an audit and related services, as well as for the procedure for training auditors and assessing their qualifications. The standards are essential for the training of auditors within firms and can also be used to protect the auditor in litigation.

There are four groups of standards:

international auditing standards. They fix the requirements for the audit in different countries. Their requirements are mandatory when conducting an audit of transnational companies;
national standards;
· internal rules (standards) of auditing activities in force in professional audit associations, as well as rules (standards) of auditing activities of audit organizations and individual auditors.
Intracompany standards.

Auditing standards govern professional activity auditors and are widely recognized all over the world, as they allow to achieve the greatest objectivity in expressing an auditor's opinion on the compliance of financial statements with generally accepted principles of accounting and financial reporting, and also establish uniform quality criteria comparison of audit results. The uniformity of audit activity is its necessary condition due to the variety of methods used in audit practice, and the complexity of their comparison.

With development transnational corporations, integration and transformation of audit firms into large international groups, it became necessary to unify auditing on an international scale. The problems in the field of audit are almost the same all over the world, therefore professional organizations any country solving the next audit problem, first of all, study the solution to it in other organizations that develop auditing standards.

Development professional requirements The International Federation of Accountants, established in 1977, is involved in auditing at the international level. Within the framework of the International Committee on Auditing Practice, acting as a standing autonomous committee, it publishes international standards on auditing, which have a dual goal: to promote the development of the auditing profession in those countries in which which the level of professionalism of auditors is lower than the global one, and to unify, as far as possible, the attitude to audit on an international scale.

The importance of this publication in modern Ukrainian conditions can hardly be overestimated. Experts do not stop arguing about how audit is developing, whether the pace of such development is sufficient, whether the principles of audit generally recognized in world practice are taken into account, whether we are going in the right direction. Very often, the debaters appealed to international standards, which almost no one could read, since they existed only in English language, and they could only be obtained from abroad. However, for several recent years the development and publication of domestic regulatory documents called the Rules (standards) of auditing activities were carried out. These rules (standards) also caused an ambiguous reaction among practicing auditors: someone accepted them, someone categorically rejected them.

International Standards audit guidelines apply to any independent audit and, as appropriate, may also be applied by auditors in their related activities. However, these standards do not take precedence over local regulations in a given country governing the audit and other related services in the field of financial information.

In addition to general auditing standards, there are special standards and norms that regulate the stages and areas of audit activity - standards and norms for forecasts and plans, ethics standards, etc.

The International Committee on Auditing Practices, on behalf of the Council of the International Federation of Accountants, has issued auditing standards, consisting of international standards for auditing and standards for the provision of related services.

Auditing standards formulate uniform international fundamental prescriptions that define standards for the quality and reliability of an audit and provide certain guarantees for the results of an audit if they are observed.

The International Committee on Auditing Practices has issued auditing standards, consisting of international standards and standards for the provision of related services.

International Standards on Auditing (ISA) are of interest to Russian accountants for several reasons. First, a lot domestic enterprises, focused on foreign investors, are already experiencing the need for an audit in accordance with ISA. Accountants of such organizations need to be aware of the obligations of the parties and the most significant features of international audit technologies. Secondly, it should be emphasized that it is the international regulatory documents that form the basis for the development of domestic federal rules (standards) for auditing, as evidenced by the existing Russian standards, which practically reproduce the provisions of several ISAs.

Familiarization with the full set of international auditing standards (in the format of a brief analytical review) will allow domestic accountants to get a holistic picture of what rules will determine their relationship with auditors as accounting and auditing continue to advance and new internationally oriented federal rules (standards ) audit activities.

International Auditing Standards cover a wide range of issues governing audit procedures and the relationship of auditors with management and accountants of client companies. They open with an introductory section containing two standards:

* 100 “Assurance Tasks”;
* 120 “Basic Principles of International Auditing Standards”.

ISA 100 is one of the newest international documents, which is developed taking into account the latest trends in modern accounting and auditing. ISA 100 and ISA 120 define the level of assurance that auditors should provide regarding the conclusions presented to clients based on the results of performance various kinds works.

The second section of the ISA - "Responsibilities" - has seven standards:

* 200 “Purpose and general principles governing the audit of financial statements”;
* 210 “Terms of audit assignments”;
* 220 “Quality control of work in audit”;
* 230 “documentation”;
* 244 “The Auditor's Responsibility for Considering Fraud and Error in an Audit of Financial Statements”;
* 250 “Taking into account laws and regulations in the audit of financial statements”;
* 260 “Communication of aspects of the audit to those charged with governance”.

ISA 200, Objective and General Principles Governing an Audit of Financial Statements, lists independence, integrity, objectivity, professional competence and due diligence, confidentiality, professional conduct, and adherence to technical standards as core audit principles.

ISA 210 “Terms and Conditions of Audit Engagements” describes the data that auditors must provide to the client in relation to the forthcoming provision of audit services. It is necessary to bring to the attention of the client information about the goals and scope of the audit, the principles for calculating the fee, the responsibility of the parties, planning the audit, the requirement for free access to the client's accounting records. In addition, issues such as the involvement of internal auditors, external experts, etc. may be raised.

ISA 220 “Quality control of audit work” is devoted to the organization of such control within the audit firm (the topic of external quality control is not covered here). Auditing firms are required to apply personnel policy aimed at staffing its staff with competent and experienced staff who can ensure that the tasks entrusted to them are carried out with due diligence.

ISA 230, Documentation, requires auditors to record in writing the aspects of the audit necessary to provide a common understanding of the audit performed. So, the following should be documented: the audit plan and program, as well as any changes to them; the schedule, scope and results of the procedures, as well as the conclusions drawn from the data obtained.

The ISA leaves it up to the auditors to decide on the scope of the documentation in each particular case. The form and content of audit working papers are influenced by such factors as the nature and complexity of the client's business, the structure and state of accounting, techniques and methods for conducting audit procedures, etc. The working papers include, in particular:

ü information about the industry, economic and legal environment in which the audited company operates;

b information regarding organizational structure companies;

l evidence of auditors' examination of accounting systems and internal control client and determining the level of audit risk;

ь records on the nature and extent of the audit procedures performed (indicating their performers, timing and results obtained);

ь data on the subsequent quality control of the work performed;

ь copies of correspondence with colleagues and third parties on audit matters;

b written statements received from responsible persons the audited company;

ü copies of the financial statements and the auditor's report.

According to the ISA, working papers are the property of the auditors. At the discretion of the latter, part of the documents or excerpts from them may be provided to the client. Auditors are required to ensure the confidentiality of the information contained in the working documentation.

ISA 240, The Auditor's Responsibility for Dealing with Fraud and Error in an Audit of Financial Statements, is one of the most recent international instruments. It obliges auditors to take into account the possibility of material misstatement in the financial statements and to be guided by the principle of professional skepticism when conducting an audit.

It is important to emphasize that if the auditors do not detect any fraud or error, the ISAs do not consider this fact sufficient to recognize the audit as not complying with international standards or due diligence requirements. Auditors are required to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. However, auditors cannot be held responsible for ensuring that fraud and accounting errors are excluded from the client.

ISA 250, Accounting for Laws and Regulations in an Audit of Financial Statements, actually aligns with the previous standard in that it focuses primarily on misstatements in financial statements—this time due to non-compliance by the client with the law. In accordance with ISAs, auditors must achieve an understanding of the key legal and regulatory requirements applicable to the activities of the company being audited.

ISA 260, Communication of Audit Matters to Those Equipped with Governance, provides auditors with the opportunity to use professional judgment to determine who should communicate audit matters of interest to the management of the auditee. This takes into account management structure company, the legal obligations of responsible employees, as well as the obligations of procedures performed by auditors. In some cases, the circle of persons to be informed can be directly agreed with the client.

The third section of the international standards “Planning” consists of three documents:

* 300 "Planning";
* 310 Business Knowledge;
* 320 “Audit Materiality”.

ISA 300, Planning, requires auditors to conduct their audit effectively and in a timely manner. To achieve this objective, the audit must be carefully planned taking into account the specifics of the client's business, the anticipated risks of material misstatement in the financial statements, as well as the staffing requirements and the time frame of the audit. Planning involves drawing up a general audit plan and a verification program specifying it.

ISA 310, Business Knowledge, requires auditors to obtain sufficient knowledge of the activities of the entity being audited to identify and understand the events, transactions, and practices that may affect the formation of the entity's financial statements.

It should be noted that auditors should start studying the company's business even before concluding an agreement with a client. This is necessary in order to determine whether it is possible to provide this client with the appropriate service at a sufficiently high level.

SA 320, Audit Materiality, reserves the right for auditors to exercise their professional judgment in assessing which misstatements in the financial statements are to be considered material. At the same time, the nature and quantitative value of distortions are taken into account.

The fourth section of the International Auditing Standards “Internal Control” includes three documents:

* 400 “Risk assessment and internal control”;
* 401 “Audit in the environment of computer information systems”;
* 402 “Taking into account the characteristics of entities using service organizations during the audit”.

In ISA 400, audit risk refers to the risk that an auditor may express an inappropriate audit opinion when the financial statements contain material misstatements.

ISA 401 affects not only the features of the assessment of internal control in the context of electronic accounting systems. The ISA requires the auditor to know information technologies to understand the impact they have on the client's accounting and verification process. The ISA recognizes that an auditor's competence may not be the sum of knowledge. professional specialist on computer systems. If necessary, one may be brought in to assist the auditors as a technical expert.

ISA 402 is of less interest to domestic accountants. It is focused exclusively on auditors and is devoted to a rather narrow issue - the peculiarities of checking those companies that use the services of a third-party organization for record keeping. The standard contains instructions on obtaining information about the specifics of such services, the terms of the contract, the competence of the service organization, etc.

Section 5 of the ISA, “Audit Evidence,” is the most voluminous. It has 11 documents:

* 500 “Audit evidence”;
* 501 “Audit evidence - additional consideration of special items”;
* 505 “External confirmations”;
* 510 “Primary tasks - opening balances”;
* 520 “Analytical procedures”;
* 530 “Audit sampling and other sampling procedures”;
* 540 “Audit of estimated values”;
* 550 “Related parties”;
* 560 “Following events”;
* 570 “Business continuity”;
* 580 "Management statements".

ISA 500 characterizes the concept indicated in the title of the standard as information received by auditors and conclusions drawn from it. Audit evidence is collected during tests of controls (when studying the organization and effectiveness of the client's accounting and internal control systems), as well as during substantive procedures (the latter include detailed tests business transactions and balance of accounts, as well as analytical procedures aimed at studying the ratios of financial and economic indicators companies).

ISA 501 specifies the procedure for performing a number of audit procedures. We are talking about the presence of auditors in the inventory of inventory; obtaining information about claims and court cases in which the audited company is involved; considering significant long-term investments and their valuation; and the analysis of segment information material to the client's financial statements.

ISA 505 governs the development and distribution of requests to obtain data from third parties. This International Standard obliges auditors to evaluate the reliability of confirmations received from third parties, taking into account the independence of the respondent, the level of his competence and authority.

ISA 510 requires auditors visiting a client for the first time or who have not performed an audit in a previous period to ensure that:

ь opening balances do not contain misstatements that could materially affect the financial statements of the current period;

ь closing balances of the previous period are correctly transferred to the beginning of the current period or, if necessary, changed;

ь the sequence of application of accounting policies is observed, or changes in accounting policies are properly reflected in accounting.

ISA 520 notes the appropriateness of applying procedures during the audit, including:

ь comparison of indicators of the current and previous periods;

ь comparison of actual indicators with forecasts;

ь assessment of the performance of the audited company in the context of industry statistics;

ь consideration of the relationship between the financial indicators of the current period, as well as between financial and other information (for example, between labor costs and the number of employees).

ISA 530 draws attention to the selection of items to be reviewed; features of sample formation and assessment of distortions identified in the sample study. Auditors should consider not only the misstatements identified in the sample, but also the foreseeable misstatements and their cumulative effect on the reliability of the financial information under consideration.

ISA 540 regulates the procedure for considering accounting items that use estimated measurement methods. In this complex process, auditors may resort to:

l consideration of the assumptions and data underlying the estimates;

b verification of the techniques and methods used in the calculation of estimated values;

l comparing previous assessments with actual results;

Seek data outside the company if necessary to ensure that estimates are realistic.

ISA 550 is of particular interest to companies that are part of a holding, have subsidiaries or act as such in relation to the parent organization. Not only related party transactions are the focus of auditors; the very existence of such parties in the audited company is subject to clarification during the audit. To identify related parties, in particular, unusual transactions are analyzed; services provided free of charge; transactions that provide for conditions that differ significantly from market ones (non-standard interest rates, prices, guarantees, etc.).

ISA 560 indicates the need to consider the effect on the auditor's report of events occurring up to the date the report is issued. As close as possible to this date, the minutes of meetings of the Board of Directors, meetings of shareholders, as well as the most recent financial information, should be familiarized.

ISA 570 primarily affects audited companies that are experiencing significant commercial difficulties or are on the verge of a crisis. During the audit, the auditors should consider whether the preparation of financial statements is reasonable based on the ability to continue business for at least the next 12 months. If the auditors have doubts about this, then Chief Accountant and the management of the company should be prepared to present to the auditors plans for the future actions of the company. The auditors evaluate these plans to see if they are realistic and can be corrected.

ISA 580 describes the procedure for interaction between the auditor and the management of the audited company in connection with obtaining clarifications from them. The procedure for interaction between auditors and company management may include:

ь sending the auditor's letter to management, which contains information that requires confirmation from the company's management;

l a summary by the auditor of the results of conversations with the management of the audited company;

l attaching to the audit evidence the minutes of meetings of the Board of Directors or a copy of the financial statements signed by management.

Section 6 of the ISA, Use of the Work of Third Parties, includes three standards:

* 600 “Using the work of another auditor”;
* 610 “Review of the work of internal audit”;
* 620 “Using the work of an expert”.

ISA 600 contains important information for companies with a branch structure that attract different audit firms for the audit of the parent organization and verification of the financial statements of the partner, whose data are included in the accounts of the parent organization. The ISA describes the procedure for cooperation between two audit firms, the interaction of which may include discussing audit procedures, reviewing the working papers of another auditor by the chief auditor, exchanging information on significant aspects and results obtained, and conducting additional tests.

ISA 610 is of interest to a wide range of companies that have their own internal audit service. The ISA requires the external auditor to understand the organization, the scope of responsibilities and the level of competence of internal audit. This is essential for effective audit planning.

ISA 620 describes the circumstances in which an outside specialist may be engaged to obtain audit evidence. Such a need arises if an engineering or legal assessment is required, an examination using special techniques and methods, etc.

The seventh section of the ISA “Audit findings and preparation of reports (conclusions)” consists of three documents:

* 700 “Auditor's report (conclusion) on financial statements”;
* 710 “Comparable values”;
* 720 “Other information in documents containing audited financial statements”.

ISA 700 contains requirements for the execution of an auditor's report and characterizes the types of opinion expressed in it. An unqualified opinion is expressed when the financial statements are presented fairly, in all material respects, in accordance with established financial reporting principles.

ISA 710 deals with the verification of:

ь indicators of the previous period, included as part of the financial statements for the current period and intended for comparison with the corresponding information of the current period,

ь comparable financial statements, where information for the previous period is provided for the purpose of comparison with the financial statements of the current period.

ISA 720 requires auditors to read other documents published by the client along with the financial statements. Examples of such documents are a management or board report, a financial review, etc. When there are significant discrepancies, the ISA obliges auditors to discuss with the client the issue of resolving the discrepancies, and as a last resort recommends that auditors seek legal advice.

Auditing standards are divided into international (ISA) and national. International Standards on Auditing (ISA) - international professional standards for the implementation of audit activities. They are published by the International Federation of Accountants through the International Auditing and Assurance Standards Committee. ISA is a relatively new independent course, the emergence of which 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. The development of audit in our country and the adoption of the Federal Law "On Auditing" necessitated a revision of the audit rules that we have in our country in order to transform them into regulations federal level. The legislation provides for the creation of internal rules (standards) by professional audit associations. Today, when licensing audit organizations, special attention is paid to the quality of services, which is impossible without standardization.

In this regard, interest in audit methodology has increased and the need for audit professionals to master international auditing standards and provisions on international audit practice has increased. The International Federation of Accountants, which organizes the work on the formation and implementation of international financial reporting and auditing standards, is doing a lot of work to improve the methodological work in the field of audits and the provision of related services. The study of international auditing standards is designed to help specialists of audit firms competently organize their work and improve its quality in order to more fully meet the needs of society for reliable information about the financial condition and results. economic activity audited companies.

Based on international standards in Russian Federation Federal Rules (Standards) for Auditing Activities have been developed to regulate auditing activities on its territory. The significance of the standards is that they - ensure the high quality of the audit; - promote the introduction of new scientific achievements into audit practice and help users understand the audit process; - eliminate the need for government control; - help auditors to negotiate with the client; - provide a link between individual elements of the audit process; - force auditors to constantly improve their knowledge and skills; - provide comparability of the quality of work of individual audit organizations; - streamline and facilitate audit work.

However, the audit rules are not detailed rules and regulations covering all audit work. They contain clear and concise summaries of the principles of auditing, as well as those established professional norms and rules that have proven their worth and strength in the course of auditing, supported by the experience of a huge number of auditors around the world.

These standards subsequently received an international calling. The audit rules (standards) and norms can be used by legal authorities as a guide, a guideline when considering the competence and work of the auditor.

In the 70s, under the leadership of the International Federation of Accountants, in order to improve the quality and unify the procedure for conducting audits around the world, the development of international auditing standards began, publishes international audit Council on International Standards on Auditing and Quality Assurance. International standards have a dual purpose: 1. to promote the development of the audit profession in countries where the level of professionalism does not correspond to the global level; 2. to unify auditing on an international scale. International Standards apply to the extent that, in exceptional cases, the auditor may deem it necessary to deviate from International Standards. This must be reasoned by the auditor. International auditing standards are divided into 7 groups: 1. introduction - the group is intended to determine general conditions or the main audit activity and this group of standards is not currently in force (100-199) 2. general principles and responsibilities (200-299) - the objectives and principles of the audit, as well as the circumstances in which certain responsibilities are assigned to the auditor and management of the entity being audited. 3. (300-499) "Risk assessment and responsible actions for assessed risk" - standards dedicated to audit planning, understanding the enterprise's business, its environment, risk assessment, determining the level of materiality. 4. Audit evidence (500-599). These standards provide examples of verification procedures. These standards state that the auditor must obtain sufficient relevant evidence to enable a reasonable audit conclusion to be made. 5. Using the work of 3 persons (600-699). They regulate the procedure for the auditor's work with the information of 3rd persons. 6. audit conclusions and conclusions (700-799). The provision of these standards establishes the rules for the formation of audit conclusions and the preparation of an audit report. 7.special areas of audit (800-899) preparation of financial statements, the procedure for its provision. In accordance with accounting fundamentals that are different from international and national standards. The data of the standard determine the procedure for compiling and submitting a report on special audit assignments. 8. (1000-1999)

23. Intracompany auditing standards.

After preliminary negotiations and p / d the conclusion of the contract in accordance with the federal standards A of the activity “Agreement of the conditions for conducting A” and intra-company standards. According to the condition of conducting A, a letter is issued on conducting A, this document is sent a-m client and signed by the client's management in case of agreement with the main conditions of the assignment for conducting A. If A checks of this client are repeated for several years, then A org can decide not to draw up a new letter each time on conducting A.. Upon completion of the work done, in case of agreement conditions, a contract is concluded with the client for conducting an A check

Such standards are developed by major audit firms and are their intellectual property. The presence of intra-company standards facilitates audit work, improves its quality and unifies the working documentation of the company.

Intra-company auditing standards may consist of separate blocks, including standards for the internal structure of the company, the organization of its activities, audit standards legal support activities of the client, audit standards for individual sections, standards for auditing economic entities with common features (small enterprises, enterprises with foreign investments), standards for auditing enterprises of certain industries and areas of activity.

Standards for conducting audits for individual sections include: a questionnaire or tests for the relevant section; a list of audit procedures and the sequence of their implementation;

typical test scheme:

1. List of regulatory documents.

2. Composition of primary documents.

3. Registers of analytical accounting.

4. Registers of synthetic accounting.

5. Forms, articles and tables of financial statements, which reflects the indicator being checked.

6. Description of alternative solutions, if any.

7. Classifier of possible violations.

One of the main criteria for evaluating the use of standards by auditors is the correctness of their development and application of internal audit rules. These documents, accepted and approved by the auditors in order to ensure the effectiveness practical work and its adequacy to national audit standards, are designed to regulate the requirements for its implementation and execution. Internal standards may provide additional framework for resolving conflicts that are possible between employees and the administration of an audit firm, auditors and clients, auditors and regulatory authorities. Internal rules define uniform requirements for the procedure for conducting an audit and its quality, and, if they are observed, create an additional level of guarantee of the results of the audit. These may include instructions adopted and approved by the organization, methodological developments, manuals and other documents that reveal the internal approaches of the company to the implementation of the audit.

FPSAD provided greater independence to auditors in solving individual problems during the audit. Many issues can be settled by audit organizations and individual auditors on their own and fixed by them in the internal audit rules. However, these rules should not contradict the FPSAD and their requirements cannot be lower than the requirements of federal and internal rules (standards) of the audit activity of a professional audit association, of which they are members ( the federal law No. 164-FZ).

In this regard, it seems to us that auditors and audit firms need an internal set of standards that define the approach to auditing. The use of internal standards helps to improve the quality of the audit, the effectiveness of its results, reduces the complexity of the work, allows the use of new technologies and methods of verification in audit practice.

Internal auditing standards provide a unified approach to auditing in a given audit firm, which (in one form or another) includes the following elements.

Preliminary review stage: 1) definition of the objectives of the agreement for reasonable and optimal planning; 2) an overview of the client's business; 3) an assessment of the degree of possible risk of fraud and common errors and an assessment of their significance; 4) an assessment of the internal control system to develop an audit strategy.

Working stage: 5) determination of the audit strategy and necessary procedures; 6) extended assessment of the effectiveness of the control system, development of an audit plan; 7) drawing up an independent survey plan; 8) conducting independent surveys. The final stage: 9) completion of the audit; 10) presentation of the conclusion.

Internal standards in accordance with the Rule (standard) of audit activity "Requirements for internal standards of audit organizations" and international experience, according to their purpose, can be combined into the following groups: - standards containing general provisions on audit; - standards that establish the procedure for conducting an audit; - standards that establish the procedure for the formation of conclusions and opinions of auditors; - specialized standards; - standards that establish the procedure for the provision of services related to the audit; - standards for education and training. Consider the standards that establish the procedure for conducting an audit. In them, the auditors reflect their approach to audit planning, the procedure for studying and evaluating the internal control system, obtaining audit evidence, determining the level of materiality, assessing audit risk, etc.

The main stages of audit planning are clearly defined in the relevant FPSAD No. 3 “Audit Planning”. When preparing an intracompany standard, auditors can more clearly present their actions at each stage of planning, including when obtaining knowledge about the financial and economic activities of an economic entity, which will be in demand both in the preparation of a general plan and program, and in the direct implementation of audit procedures. It is advisable for an audit firm in its internal documents to prepare in advance a possible plan and audit program, providing for the possibility of adjustment depending on the characteristics of the activities of the audited economic entities. Having reflected in the plan and program the maximum possible list of types of work and procedures, auditors can leave only suitable procedures for a specific audit, supplementing them with special actions that are specific only to the audited client. Separate provisions of the general plan and program may be agreed with the head of the economic entity.

When determining the procedure for studying and evaluating the internal control system in internal standards, auditors need to establish the number of stages, which, in accordance with the requirements of paragraph 5.1 of the PSAD “Studying and evaluating accounting and internal control systems during the audit”, cannot be less than three: general familiarity with system, an initial assessment of its reliability and confirmation of the reliability of the assessment (if necessary, auditors have the right to decide on the use of more stages).

When creating an internal standard, auditors need to keep in mind that forming an overall impression of an internal control system requires taking into account its components, i.e. an appropriate accounting system, control environment and individual controls. Finding out the reliability of each of them will allow us to evaluate the system as a whole.

Intracompany rules should also reflect the approach of the audit firm to determine the level of materiality. Possible options for its calculation are contained in FPSAD No. 4 “Materiality in Audit”, however, this internal standard of audit organizations is one of the most important. First of all, this is due to the need for the auditors to form and present in a certain form an opinion based on the results of the audit, containing an opinion on the reliability of the client's reporting data. As you know, the validity of reporting indicators should not be established by the auditor with absolute accuracy (it should be reliable in all material aspects). At the same time, difficulties arise in finding criteria for classifying misstatements as material. Auditing firms are trying to solve this problem by developing an appropriate internal rule.

The use of proven methods allows minimizing audit risk and conducting audits in a shorter time. For their development in an audit firm, a methodological council consisting of leading experts can be created. Intra-company standards can cover a wide range of issues - from methods for checking specific issues and directions in the field of accounting and taxation of economic entities to general issues of organizing audit work in a company.

Internal standards are subject to mandatory approval by the head of the audit organization. In order to ensure compliance with them, the need for the application of these rules should be included in functional responsibilities auditor.

Like any other activity related to such an important area of life of any enterprise as its financial condition, it is subject to strict regulation in order to exclude the possibility of a poor-quality audit. It is also important that today, in the age of rapid globalization and internationalization of the economic life of the whole world, audits in all countries are carried out according to the same scheme. This is especially important for those who consist of many branches scattered around the world. It was in order to unify the process of conducting that international audit standards were adopted.

What are they? International Auditing Standards are special documents that contain the requirements for audits. financial condition enterprises. These standards are issued by the International Federation of Accountants and are widely used throughout the world. First of all, the most famous and largest users of ISAs are representatives of the so-called "Big Four", which includes Ernst & Young, PriceWaterHouseCoopers, KPMG and Deloitte. Since these audit firms are transnational companies, in their activities they take international auditing standards as the main guide to action.

However, it is worth noting that the ISA is used not only by representatives of the Big Four. The fact is that international and national auditing standards are closely related, and most countries create their own standards based on international experience. This allows you to further unify inspections and provide the most standardized audit anywhere in the world.

The classification of international auditing standards is their division into certain categories in accordance with a certain sign of classification. Usually in the classification there is only one sign - the logical stage of the audit, which is related to one or another standard. That is why international auditing standards are divided into the following categories:

Introductory aspects - give an idea of the conceptual foundations of the audit and the conduct of the audit;

Responsibilities - disclose all the obligations of the auditor to the customer, regulate the conclusion of contracts for the audit, pay attention to the inadmissibility of disclosure by the auditor of the information received in the client's company;

Planning - international audit standards of this category give an idea of drawing up an audit plan, taking into account risks, materiality and some other points that are important when;

Internal control system - explains how to analyze the accounting system and firms.

Audit evidence - international auditing standards regarding evidence are one of the most important, since they regulate which documents can be accepted by the auditor as evidence of a particular operation, and are also ranked according to the degree of reliability;

Using the services of third parties - explain in which cases the auditor has the right (or even the obligation) to resort to the help of outsiders during the audit;

And conclusions - regulate the mandatory points and the conclusion that will be presented at the end of the audit to the management of the enterprise;

Specialized areas of audit - provide information about audits in highly specialized areas;

Related services - regulate the list additional services that an audit firm can provide.

In the normative regulation of audit activities, the rules of verification occupy a significant place. The application of these in practice guarantees the quality of the audit. Most of the rules are based on international auditing standards.

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When planning an audit, many aspects need to be considered. The overall audit plan should be developed in as much detail as possible.

Following certain audit rules helps to take into account all the necessary nuances. These are based on a number of generally accepted international methods. What are the international auditing standards?

General information

Any auditing standards assume observance of fundamental principles.

These include:

Formulation of uniform standard requirements	Which establish requirements for the reliability and quality of the audit and create an appropriate guarantee level for the results of the audit procedures. However, auditing standards are subject to revision from time to time as economic conditions change.
Formation of curricula	Preparing auditors on the basis of standards and formulating uniform examination requests for obtaining permission to engage in audit activities
Determining audit quality	On the basis of accepted standards and the establishment of a measure of responsibility of any auditor
Predetermining a unified approach to the implementation of the audit	The scope of the audit, types of audit reporting, methodological issues and other basic principles

The need for auditing to harmonize standards at the international level has led to the development of international auditing standards.

Their use expanded the range of users of financial statements, simplified the comparison financial indicators activities of economic entities from different countries.

In general, international standards have made it possible to evaluate the professionalism and competence of audit firms at the interstate level.

What it is

International Standards on Auditing, or ISA for short, is a specific reference book for professional auditors. It describes generally accepted auditing techniques.

The use of international standards by Russian auditors in their work promotes integration into the international community.

Professional standards at the international level are developed by several associations. Among them, the IFAC is the International Federation of Accountants, which has been operating since 1977.

Specifically, audit standardization is in charge of CMAP, the Committee on International Auditing Practice, which is a permanent committee of the IFAC Council.

The main purpose of the created rules lies in professional development professions and unification of approaches to audit on an international scale.

The classification of international auditing standards involves the division into categories according to certain characteristics. As a rule, the main feature is the principle of logic.

Therefore, ISAs are divided into categories such as:

Introduction	Defines the conceptual framework for auditing and how an audit is conducted
Duties	The duties of the auditor to the client are described, the procedure for concluding contracts is established, the need for confidentiality is determined
Planning	Prescribe the features of drawing up an inspection plan
Internal control system	Defines the principles of analysis of the accounting system and internal type of control
Audit evidence base	Regulates the list of documents required for verification and the degree of their reliability
Use of third party services	Establishes possible cases of involvement of third-party experts
Specialized areas of audit	Regulate the inspection of highly specialized areas
Accompanying services	Establish a list of services that the auditor can additionally offer

What is their role?

The significance of international auditing standards is that they contribute to:

ensuring High Quality audit;
implementation innovative technologies in audit methods;
users' understanding of audit procedures;
creating a public image of the profession;
elimination of increased control by the state;
simplification of interaction between the auditor and the client;
the relationship of individual audit processes.

International standards do not override government regulations that govern auditing in a particular country. ISA rules apply to the extent that they are similar to federal standards.

They also define the main role of standards international level how to ensure the proper level.

Therefore, auditors most often use a combination of federal and international standards.

The purpose of international auditing standards is to reduce differences in the interpretation of financial statements, improve the quality and comparability of information, unify standards.

Moreover, the standards are based precisely on principles, and not on strict rules. These are different from the national rules. The main postulate is to follow exactly the principles, and not to look for ways to circumvent the legislative norms.

Legal regulation

The first Russian-language edition of the ISA is dated 1999. But in this version there were many inaccuracies and errors. In addition, Russian developments based on this version did not coincide with the English version of 2000.

In 2001 was published new translation ISA, and it was he who was used by Russian developers in the preparation of new federal audit standards in the Russian Federation.

Initially, ISAs, developed in 1994, included forty-five standards. Individual countries have adopted international standards without changes as national standards.

Most of the states, including Russia, use the ISA as a methodological basis for creating national standards.

This approach helps to take into account international audit experience and interpret it in accordance with the national economy. This improves the quality of the audit and increases professional level experts.

From 2019, the reliability of financial statements must be confirmed in accordance with ISA, regardless of the methods used to prepare reporting documentation.

Federal rules-standards of audit activity are approved at the government level.

Amendments dated December 1, 2014, made the application of international standards for Russian auditors mandatory.

Also in 2019, the SRO of auditors established requirements for the need to improve the qualifications of auditors on the subject of ISAs.

As for federal standards in Russia, they are established.

Many of the current standards are full or partial analogues of ISA. For example, the provision on understanding the activities of the entity being audited is Standard 8 and Standard 4 "Audit Materiality".

List of International Auditing Standards in 2019

The rules-standards of audit activity are documents that form the unity of requirements, compliance with which ensures an appropriate level of audit quality and additional related services.

On the given time the current forty-nine ISA standards are systematized into ten categories:

ISA 100-199	Introduction - determine the logic of the formation of standards and become the basis for the development of new norms. It covers basic terms, general prescriptions
ISA 200-299	Obligations - establish the circumstances of the audit order, the rules of contracts
ISA 300-399	Planning - predetermine the range of audited issues, the audit staff, the level of competence, the possibility of attracting third-party experts
ISA 400-499	Application of results - contribute to the evaluation of the information received
ISA 500-599	Audit evidence base - establish a list of documents required to draw up a reasoned audit report
ISA 600-699	Information from other persons - regulates the use of data from other auditors and coordinated work with the internal audit service
ISA 700-799	Audit conclusion - define the types of final conclusions and provide for the possibility of refusing to draw up an opinion in the absence of the necessary data
ISA 800-899	Special questions - help in forecasting upcoming financial information
ISA 900-999	Related activities - regulate the provision of additional services
IAPS 1000-1100	Supplements - consider aspects of international practice

Applied in Russia

All federal audit standards in the Russian Federation can be divided into three categories:

similar in content to ISA;
partly different from ISA;
having no mutual analogues with ISA.

At the same time, most of Russian standards is identical to ISA or has minor differences. The discrepancies are due to different approaches to audit and formal differences related to local characteristics.

Prior to 2005, the current RSAs were almost identical to the ISAs. Legislative reform has led to some inconsistencies.

It should also be noted that part of the ISA has no Russian analogues at all, since the regulation of audit in the Russian Federation is still under development.

However, some international standards are still similar to some Russian standards. This can be represented in the following table:

Compliance with ISA and PCA

Purpose of the standard	№ISA	№RSA
Agreement on the terms of the audit	210	12
Documentation during the audit process	230	2
Auditor's Responsibilities and Dealing with Fraud	240	13
Responsibilities for Compliance with Legislation	250	14
Audit planning	300	3
Obtaining information about the company's activities and assessing the risks of misrepresentation of information	315	15
Materiality in audit	320	4
Audit processes performed based on risk assessment	330	35
Acquisition of audit evidence	500	5
Obtaining Additional Audit Evidence	501	17
Receiving external confirmations	505	18
Features of the first audit of the entity	510	19
Analytical procedures	520	20
Audit sampling procedures	530	16
Audit report	700, 701, 800	6
Data mapping	710	26
Consideration of Other Information Not Used in the Auditor's Report	720	27

What are classified as intracompany

Internal auditing standards are assigned generally accepted requirements for the implementation of the audit and its quality. Auditing internal standards can be divided into the rules of audit SROs and directly internal.

Self-regulatory associations of auditors are free to develop their own standards, as well as create methods for the use of federal standards.

Auditing organizations and private auditors have the right to determine individual standards. Any internal company standards that an individual entity approves cannot override federal standards or the Audit Law.

In general, according to their purpose, internal standards are divided into:

concluding general provisions on audit;
predetermining the procedure for conducting an audit;
establishing the procedure for creating audit findings and final opinion;
resolving specific issues;
determining the procedure for providing additional;
regulating issues of education and training of personnel.

How federal regulations are characterized

In Russia, ISAs are taken into account when developing national standards. When developing standards, the Ministry of Finance takes into account the similarity of the tasks required to be solved.

At the stage of audit regulation in the Russian Federation, as a result, more than thirty all-Russian standards were created. They were not approved by the Government and were not standards.

However, the standards were approved by the Audit Commission and could be used as recommendations.

Determined that prior to the approval of federal standards, one should be guided by the approved all-Russian standards.

Subsequently, Government Decree No. 696 approved federal auditing standards. Thirty-three new standards are considered in Federal Law No. 307.

What is characteristic of them is that they all:

About internal audit

International standards on internal audit include three main groups of standards:

activities;
quality characteristics;
practical application.

Basic concepts Accounting in terms of audit Financial control big four

International Standards on Auditing (ISA)(English) International Standards on Auditing (ISA) ) - international professional standards for the implementation of audit activities. They are published by the International Federation of Accountants through . On the basis of international standards in the Russian Federation, a part of the Federal Rules (Standards) of Auditing has been developed that regulate audit activities in its territory.

List of standards

Introductory aspects

ISA 110 Glossary
ISA 120, Framework for International Standards on Auditing

Duties

ISA 200, The Objective and General Principles of an Audit of Financial Statements
ISA 210, Terms of an Audit Engagement
ISA 220 Audit Quality Control
ISA 230 Documentation (Audit Documentation)
ISA 240 Fraud and Errors
ISA 250, Accounting for Laws and Regulations in an Audit of Financial Statements
ISA 260 Communication of Aspects of the Audit to Those Equipped with Governance
ISA 265, Reporting Defects in Internal Control

Planning

ISA 300 Planning
ISA 310 Business Knowledge
ISA 315, Understanding the Entity's Activities and Assessing the Risks of Material Misstatement
ISA 320 Audit Materiality (Materiality (audit))
ISA 330 Audit Procedures for Assessed Risks

Internal control

ISA 400 "Risk assessment and internal control system"
ISA 401, Auditing in a Computer Information System Environment
ISA 402, Auditing Service Users

Audit Evidence

ISA 500, Audit Evidence
ISA 501, Audit Evidence—Additional Consideration of Special Items
ISA 505 External Confirmations
ISA 510, First Audit - Opening Balances
ISA 520 Analytical Procedures
ISA 530, Audit Sampling and Other Sampling Procedures
ISA 545, An Audit of the Measurement and Disclosure of Fair Value
ISA 550 Related Parties
ISA 560 Subsequent Events
ISA 570, Going Concern
ISA 580 Management Statements

Using the work of third parties

ISA 600 Using the Work of Another Auditor
ISA 610, Reviewing the Work of Internal Auditing
ISA 620, Use of the Work of an Expert

Auditor's Findings and Opinions

ISA 700, Auditor's Report on the Financial Statements
ISA 710 Comparisons
ISA 720, Other Information in Documents Containing Audited Financial Statements

Specialized areas of audit

ISA 800, The Auditor's Report on the Special Engagement
ISA 810, Review of Forward-Looking Financial Information

Accompanying services

ISA 910, Engagements for Reviewing Financial Statements
ISA 920 “Assignments for the implementation of agreed-upon procedures”
ISA 930, Engagements for the Preparation of Financial Information

Links

International Auditing and Assurance Standards Committee

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