Auditor's report: an example. Auditor's report: drafting and timing of issuing an audit report

The audit report and the audit report are documents reflecting the course of the audit and the objective opinion formulated at the end of the audit. Their filling is carried out in accordance with applicable norms and standards. Let us consider further how an audit conclusion is drawn up.

Definition

The conclusion of the audit is an official document intended for users of accounting (financial) documents, in which there is the opinion of the auditor on the reliability of the inspected information and compliance with their accounting procedures in the Russian Federation. Its formulation and reflection is carried out in accordance with the rules in force. Reliability is called the level of accuracy of information that allows interested persons to draw the right conclusions about the property and financial status of the enterprise, the results of its economic activities and take informed decisions based on these indicators. The person who carried out the audit is responsible for the content of the audit report. At the same time, it is necessary to take into account that the management of the inspected person is responsible for the preparation and provision of accounting (financial) documents. From this circumstance it follows that an audit does not relieve an organization from its reporting responsibilities.

Classification

There are several types of audit:

1. Initiative.
2. Mandatory.
3. For special assignments.

Experience shows that it is advisable to use a single sample for all final documents (example). The audit report must be in Russian, the value is indicated in the national currency. The document is provided to the head of the inspected person in the number of copies provided for in the contract.

Federal rule

The auditor is responsible for formulating and expressing an opinion on the reliability of the documentation in all significant aspects. The preparation of an audit report is carried out in accordance with the federal standards. In particular, the most important is the rule number 6, approved by government decree No. 696 of September 23, 2002. This standard, as well as other similar acts, was developed taking into account international regulations governing audit activities. The rule establishes unified requirements for the final audit document.

application

The audit report is necessarily accompanied by financial statements in respect of which the opinion is formulated and expressed. It must be endorsed and sealed with the seal of the inspected subject. It should also indicate the date of formation. Preparation of the documentation is carried out in accordance with the requirements of the legislation in the field of financial documentation. The audit report and the reporting are broached in a single package. The sheets are numbered, threaded, sealed with the seal of the auditor. The corresponding page shows the number of sheets in the package. As was said above, the issuance of the audit report is carried out in the number of copies that was agreed by the auditor and the inspected person. However, both parties must receive at least one package of documentation.

Composition of the audit report

The norms provide for a list of the main mandatory elements that should be present in the final document. These components include:

1. Name. Example: "Auditor's opinion on financial (accounting) documentation".
2. Destination. According to the contract or the norms of the legislation, the document, as a rule, is sent to the owner of the inspected subject, the board of directors and so on.
3. Information on the auditor.
4. Data on the inspected person.
5. Parts of the audit report. They are, as a rule, three. This is an introductory section, blocks describing the scope of the audit and the opinion of an authorized specialist.
6. Date of the audit report. Here, the calendar number for the completion of the audit is displayed. The specialist is solely responsible for expressing his opinion on the reliability of the financial statement indicators at the time of the audit. For other operations that can be carried out after the audit is over, he does not respond.
7. Signatures.

Information about the parties

Information about the auditor should include:

1. Indication of the organizational and legal type of enterprise.
2. The name of the organization from which the auditor acts.
3. Location.
4. Date, number of sv-va about state registration.
5. Information about the license. Here the date, number, name of the authority that issued the permit to conduct the activity, the period of its validity is indicated.
6. Membership in the accredited professional association of auditors.

Data on the inspected person include:

1. Indication of the organizational and legal status of the subject.
2. Business name.
3. Address.
4. Date, number of sv-va about state registration.

Introductory section

In this part there is information about the period of provision of information in the financial documentation, its structure. In particular, there should be: "Accounting balance sheet" (f. No. 1), "Reporting on losses and profits" (f. No. 2), annexes to f. Nos. 1 and 2, explanatory note. In addition, the introduction block includes information on the division of responsibilities between the auditor and the inspected entity. Responsibilities related to the preparation of financial documents are assigned to the head of the audited person. The auditor is responsible for expressing a competent opinion on the level of reliability of the report in all significant aspects.

Scope of audit

In this section, the following information is available:

1. The audit was carried out in accordance with the federal legislation, rules (standards) of the activity, internal regulations operating in the professional association, of which the auditor is a member, as well as other acts.

2. The inspection was planned and carried out to provide a reasonable degree of assurance that the financial indicators are presented without material misstatement.

3. The audit was carried out on a selective basis and included:

1) Research of evidence on the basis of testing, certifying the significance and disclosure of information about the financial and economic activities of the inspected entity.

2) Evaluation of methods and principles of accounting, reporting procedures.

3) Determination of the main estimated values present in the financial documentation.

4) Analysis of the general view on reporting.

4. The audit provides sufficient grounds for formulating and expressing an opinion on the degree of reliability of the documentation in all significant aspects and the compliance of accounting rules with the current legislation.

Additional sections

In the block describing the opinion of the auditor, the conclusions of the auditor on the level of reliability of the inspected information should be disclosed in the established form. The document must contain the list of responsible persons. The auditor's conclusion is signed by the head of the organization, from which the auditor acts, or other authorized person or the chief auditor. In the latter case, the number, type of qualification certificate, as well as the period of its validity, are additionally indicated.

Forms of audit opinion

They are defined by Federal Standard No. 6. The rule provides for the following types of document: an unconditionally positive audit opinion and a modified type. The first is prepared in the event that the auditor has come to the opinion that the documentation provided for the inspection reliably reflects the financial condition of the enterprise and the results of its economic activity, is consistent with the principles and methods of accounting, the requirements of legislation. In the presence of a number of circumstances, it becomes necessary to prepare a modified form of the audit report.

Conditions

The auditor may refuse to prepare a positive opinion in the presence of at least one of the stipulated circumstances and if, in the opinion of the expert, it influences or can have a significant impact on the reliability of the information provided. These factors include:

1. Limitation of the scope of work of the auditor.
2. Disagreements with the head of the inspected entity on:

• The admissibility of the accounting policies chosen by the organization;
• Method of its use;
• Adequacy of disclosure of information in accounting records.

Grounds for providing a modified document type

An audit company or a private practitioner can prepare such an act if factors appear:

1. Not influencing the opinion of auditors, but described in the document. Their purpose is to attract the attention of stakeholders to any particular situation that has developed in the inspected organization and reflected in the financial data.
2. Influencing the opinion of auditors, the consequence of which can be conclusions with a reservation, refusal to formulate them or negative audit opinion.

Regardless of the circumstances that served as the basis for the preparation of the modified act, the auditor discovers the reasons for its execution in a separate section.

Specificity

When a modified document is issued, specific factors-grounds are indicated. Example: "Auditor's report with circumstances influencing the auditor's opinion" - the act contains an opinion with a reservation because of the limitation of the scope of the specialist's work. "As a reason for preparing such a document, there can be disagreement with the management of the inspected enterprise on accounting policy. Note that, depending on the degree of restriction of the work of a specialist, he is entitled not only to express an opinion with a reservation, but also to refuse to formulate conclusions. dgotavlivatsya in the event of a dispute with the management of the inspected companies on the adequacy of disclosure in the financial documentation.

Types of Modified Acts

Taking into account the above information, the following categories of conclusions are determined:

1. Do not affect the reliability of financial records.
2. With reservation.
3. With refusal to formulate conclusions.
4. Negative.

An opinion with a reservation is expressed in the presence of a number of circumstances. In particular, it is permissible when the auditor has come to the conclusion that it is not possible to formulate an unconditionally positive conclusion. However, the impact of disagreements that have arisen with the head of the inspected person or the limitation of the scope of work of a specialist can not be called so essential and profound to use the right of refusal. In this case, the conclusion should contain the phrase: "Except for the circumstances ...". The auditor may refuse to express an opinion. This is permissible in the case when the limitation of the volume of his work is so deep and significant that the specialist does not have the opportunity to obtain sufficient evidence, in his opinion. Consequently, he is not in a position to express an adequate opinion on the reliability of the submitted financial documents.

Substantial disagreements with management

Contradictions in the opinions of the director of the inspected enterprise and the auditor may be of decisive importance for financial documentation. In such a situation, the auditor concludes that a reservation can not be adequate to disclose a misleading or incomplete reporting. For such cases, in practice, a corresponding wording has been developed. For a better understanding, let's give an example. The audit report is drawn up as follows:

"In our opinion, due to the influence of these factors and circumstances, the documentation of the enterprise" A "reflects an unreliable financial state as of December 31, 20_ and the results of activities inclusive from January 1 to December 31, 20_ inclusive."

A special case

In practice, sometimes there is a false conclusion. It is an act executed without an audit or with its execution, but clearly not corresponding to the information present in the inspected documentation. Recognition of a conclusion is knowingly false only in the courts.

Features of events

The calendar number that is placed in the conclusion must correspond to the date of completion of the audit and follow after the day of approval of the financial documentation of the inspected entity. Particular attention should be given to the order of reflection of events. In PBU 7/98 there are several requirements related to this issue. In accordance with these prescriptions, the terms of the audit report are formed. There are two categories of events. The first arise between the reporting date and the calendar approval number of the conclusion. In addition, there are facts that were revealed after the execution of the audit certificate. All these events are classified as occurring after the balance sheet date. Their definition and rules for reflection are fixed in PBU 7/98, as well as Federal Standard No. 10. According to the latter, the auditor should take into account the impact on the state of financial documentation and the conclusion of events that occurred after the reporting day. In this case, both favorable and negative factors are taken into account. The financial documentation reflects the events:

1. Certifying the existence on the reporting date of the economic conditions in which the inspected entity conducted its activities.
2. Indicating the occurrence after the control calendar number of circumstances in which the enterprise carried out the work.

After the date of formation of the financial statements, events may occur:

1. Arising up to the day of approval of the audit certificate.
2. Appearing after signing the conclusion and before the calendar number of its provision to interested persons.
3. Identified after the transfer of the final act to users.

Necessary procedures

Regarding the events that arose before the date of approval of the conclusion, the specialist should conduct a number of activities. They are aimed at obtaining adequate and sufficient evidence that all of these facts, the existence of which may require the correction of financial documents or the disclosure of information in it, are established. Procedures aimed at determining these events are implemented as close as possible to the date of signing the conclusion. If the specialist identifies facts that could significantly affect the indicators of the financial documentation, it is necessary to determine whether they were properly reflected in accounting and whether the information about them is adequately disclosed.

Federal Rule No. 10

This standard contains requirements for the actions of a specialist regarding events that arose after the day of signing the conclusion, but before the calendar number of providing it to interested persons. After sighting of the final act, it is not the responsibility of the auditor to conduct procedures or send requests concerning financial documentation. Responsibility for notifying the auditor of events that may affect the reporting indicators, from the date of approval of the conclusion, is vested in the management of the inspected entity.

Specialist actions

In the event that the auditor becomes aware of an event that could materially affect the state of the financial documentation, after the date of signing the conclusion, he must:

1. Establish the need to make changes in accounting papers.
2. Discuss the decision of this issue with the head of the inspected entity.
3. To carry out the required measures taking into account the specifics of the circumstances in which the specialist became aware of these events.

The facts revealed after the submission of the document to users

If events were found that existed on the date of signing the conclusion after being handed over to the interested parties, but before it was approved by them, in connection with which it was necessary to modify the act, the expert decides whether to revise the financial documentation and discuss it with the head of the inspected entity. When adjusting the accounting documents, the auditor performs the proper procedures. In his duties also includes the preparation of a new final act with a section that draws attention, with a description of the basis for the re-examination of the documentation and the conclusion made earlier.

Controversial moment

If the specialist considers it expedient to revise the financial documentation, but the management of the inspected subject does not take appropriate measures, he should notify the persons in charge of the director of the enterprise that users will be informed of the impossibility of relying on the final act. As the day of reporting for the upcoming period approaches and the disclosure of information about economic facts properly, the need for re-examination of the papers and preparation of the conclusion may not appear. The head of the inspected entity is responsible for the information present in the accounting documentation and making appropriate changes to it when identifying events that have a significant impact on its reliability. The audit company or a private practitioner is responsible for the adequacy of the opinion on the assessment of these facts.