Abstract
The article considers the main stages of an audit. They allow to achieve the main goal of audit planning, that is, the implementation of a reporting test to identify possible errors; reporting testing for probable errors; horizontal and vertical analysis and "reading" of reports; express analysis of reporting. At the stage of planning the audit, after the disclosure of inconsistencies in the forms of financial statements, significant changes in the dynamics and structure, it is possible to determine the coefficients and at the same time the method of express analysis of the statements is used. The article focuses on the main mistakes in financial reporting. The main ratios for the analysis of financial statements are also given: liquidity ratios; financial stability; turnover; profitability. The analytical procedures presented in the article, which are guided by auditors at the stage of planning an audit, can be divided into the following groups. In addition, the division of audit procedures helps to identify problems in the provided information in a timely manner when disclosing it in the financial statements, and is aimed at identifying audit risks at the substantive stage. The use of analytical procedures at the stage of planning an audit allows you to create an audit program with minimal time costs, reduce the risks of problems that are associated with a lack of time and skills of personnel.
Highlights
An important stage of the audit, which decides what will be the strategy and detailed approaches to the scope of audit procedures, the timing of the implementation, the expectation of the result – is the planning of the audit
Conducting a test of financial statements to identify possible errors is one of the first analytical procedures that should be performed by the auditor at the stage of planning the audit
Organizational and technical errors can be identified by the auditor at the stage of audit planning, methodological errors – when performing substantive procedures
Summary
Total profit (total loss) for the period. Discrepancies are possible in two cases: - when spending retained earnings in the reporting period on the basis of decisions of the owners of the JSC (LLP). For the payment of dividends, repayment of losses of previous years, increase in the authorized capital and other purposes; - with mandatory contributions to the reserve capital (for JSC). STATEMENT OF CHANGES IN EQUITY Authorized capital at the beginning of the reporting period. Retained earnings (uncovered loss) at the beginning of the reporting period Total equity and reserves at the beginning of the reporting period
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