The audit is designed to provide reasonable assurance that the above financial (accounting) reporting is reliable and free of material misstatement. The purpose of the audit is to express opinion on the reporting of persons who have been testing, in accordance with the procedures of accounting under the laws of the Russian Federation. A positive audit opinion on the audit results can contribute to the growth confidence in the financial (accounting) firm. However, you should not accept the auditor's opinion as a confirmation of the effectiveness of doing business management firm, which audited. The auditor is responsible for formulating and expressing an opinion on the financial (accounting).
Responsibility for preparation and submission of audited statements are the responsibility of leadership, rather than an audit firm. Auditing allows you to: obtain reasonable assurance about the reliability of financial (accounting) the client in all material respects, to evaluate the accounting system of the client to meet regulatory requirements; assess the client's system of internal controls for compliance with regulatory requirements, the scale and nature of the client to identify critical areas and untapped reserves in the area of customer accounting and taxation, in collaboration with other actors of civil relations in the system of internal control and management based on information received during the audit information to develop proposals to address identified deficiencies. An audit includes examining of accounting and legal analysis of client's business. In addition, the audit can be carried out by the client step by step (for example, Quarterly), which will not only avoid an excessive burden on the staff of accounting at the end of the year, but also provide an opportunity to make timely and complete reporting of corrections identified by the scan shortcomings. The audit is mandatory or initiative. Mandatory audits in accordance with the Federal Law "On Auditing ', N 119-FZ of 07.08.2001g. Under mandatory audit test means a mandatory annual audit of accounting and financial (accounting) reporting of the organization or individual entrepreneur.