Abstract
The International Auditing and Assurance Standards Board (IAASB) has decided to issue a new International Standard on Auditing for the audit of less complex entities. It should be noted that, based on the analysis of the audit services market, examining the criteria for classification of entities in the Republic of Moldova, we can see that micro and small enterprises can be classified as less complex enterprises. This article analyses the market of audit services and the development trends of micro and small enterprises in Moldova. The author analyses the provisions of the ISA project (Information Sharing Agreements) for the audit of the financial statements of less complex entities in the projection to the realities of the Republic of Moldova. Analysing the regulatory and legislative framework of the Republic of Moldova regarding the audit, the author proposes a series of changes that would lead to its improvement.
Highlights
Nowadays, the audit of financial statements has become an integral part of the effective economic development of any state
It should be noted that the history of the financial statements audits in the Republic of Moldova dates from the year in which the state was created, in 1991, when Government Decision no
In conclusion, it should be noted that conducting an audit of the financial statements of an enterprise is a rather complex process that involves a combination of theoretical aspects and practical application of International Standards on Auditing (ISA) provisions, based on the opinion of the auditor, due to the evidence received by him
Summary
The audit of financial statements has become an integral part of the effective economic development of any state. The audit of financial statements in most countries is based on the provisions of the International Standards on Auditing (ISA), which set out multiple requirements for the procedure for auditing financial statements. Delor Internaționale de Audit (ISA), care stabilesc cerințe multiple raportate la procedura de efectuare a auditului situațiilor financiare. În această ordine de idei, trebui remarcat faptul că, în prezent, există mai mult de 30 de Standarde Internaționale de Audit, menite să stabilească procedura pentru efectuarea unui audit: de la acceptarea și continuarea activității cu clientul, planificarea unui audit, inclusiv determinarea riscului de audit, și a pragului de semnificație, de testare a controlului intern al întreprinderii, stabilirea procedurilor de audit și până la finalizarea auditului situațiilor financiare. The provisions of the draft International Audit Standard for the audit of less complex entities establish restrictions on the criteria for classifying less complex enterprises, for example: such enterprises cannot be classified as less complex entity: The draft International Standard on Auditing for the audit of less complex entities establishes that a ban on the award of such enterprises can be established at the level of:
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