Abstract
The article discusses certain aspects of accounting for inventories, which form the item «Inventories» of the balance sheet, which is part of the accounting (financial) statements of public joint-stock companies, which auditors qualify as a key audit issue during the audit. In the article, the author analyzes the tendencies in the formation of key audit issues from one reporting period to another and discloses the composition of audit procedures used by auditors to identify the reliability of the item «Inventories». Due to the fact that the Federal Accounting Standard «Inventories» (FSBU 5/2019) entered into force on January 1, 2021 for mandatory application, it was expected that the transition period to the beginning of its application would be more broadly reflected in the composition of key audit issues.
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