Standards of auditor activity in the Russian Federation. Federal Auditing Standards - Rossiyskaya Gazeta

Auditing activities are always carried out according to strict rules that determine the uniform procedure, principles, methods and other characteristics of the audit. Such rules are developed and approved at various levels. Until recently, Russian auditors worked according to the norms determined by federal auditing standards. However, since 2017 the situation has changed.

Hierarchy of audit rules

Auditing standards are divided into three levels:

• international standards approved by the International Federation of Accountants (IFAC, IFAC);
• federal standards adopted by the Government of the Russian Federation and the Ministry of Finance of Russia;
• internal standards of associations of auditors.

The Government of the Russian Federation adopted 34 federal audit rules, the Ministry of Finance - 8. Until recently, all of them regulated the procedure for the work of auditors.

Is the use of FSAD mandatory?

Since 2017, according to the legislation on auditing, all audits in our country must be carried out according to the rules of international standards. The exception is audits of reporting for 2016, the contract for the implementation of which was concluded in advance, before January 1, 2017.

The law determines that it is international standards that are mandatory for compliance, and not federal ones. Also, auditors can follow the standards developed by their professional associations, but only if these standards do not contradict international ones, but complement them.

What is the difference between international and federal regulations

Russian audit rules were originally based on international ones. And some of them are almost identical to the original. However, there is a part of Russian standards that do not reflect changes that have occurred over time in similar IFAC standards. This, of course, violates the provision that no rules applied in the audit should be contrary to international ones.

We also have to admit that during the development of federal auditing standards, a clear structure for codifying the rules inherent in the IFAC standards was not adopted, which makes it possible to see their interconnection.

Also, the logic of the presentation of each IFAC audit rule, which consists of several standard sections, was not taken as a basis.

This state of affairs made it very difficult to study and understand Russian standards, and did not form an integral system that would be easily updated by analogy with international standards.

Another difference between the set of federal standards is that Russian audit rules, originally designed to make information about a potential investment object equally understandable for both Russian and foreign businesses, are often based on the provisions of Russian rather than international law, use forms of documents that are typical for for Russian conditions.

All these shortcomings served as one of the reasons for the abandonment of federal auditing standards in favor of international ones.

How will the transition to international rules of inspections affect business?

Now audit checks will be regulated by 48 international standards. The auditor's report will include not only information on the correctness of the reflection of the results of activities in the financial statements, but also the auditor's opinion on the peculiarities of doing business and the risks of the audited enterprise.

To form such a report, the auditor will have to study, and the person being audited to submit large amounts of documentation and information.

The result of the publication of such a report, with the disclosure of risks and features in it, will increase the awareness of potential investors and influence their desire to participate in the business. Banks, based on the data of such an “extended” conclusion, will be able to more easily identify risky clients.

Auditing rules (standards) occupy an important place in the system of normative regulation of audit activity. The implementation of their requirements in practice serves as a certain guarantee of the quality of the check.

The main principles of auditing standards are expressed as follows:

1. auditing standards formulate common basic requirements that define the regulatory requirements for the quality and reliability of the audit and provide a certain level of assurance of the results of the audit if they are observed. As economic conditions change, auditing standards are subject to periodic revision to best meet the needs of users of financial statements;
2. on the basis of audit standards, curricula for the training of auditors are formed, as well as uniform requirements for conducting exams for the right to engage in audit activities;
3. auditing standards serve as the basis for proving in court the quality of the audit and determining the degree of responsibility of auditors;
4. The standards define the general approach to conducting an audit, the scope of an audit, the types of auditors' reports, methodological issues, and basic principles.

The meaning of the standards is essentially that they:

• ensure the high quality of the audit;
• promote the introduction of new scientific achievements into audit practice;
• help users understand the audit process;
• create a public image of the profession;
• eliminate state control;
• help the auditor to negotiate with the client;
• provide a link between the individual elements of the audit process.

International Auditing Standards

The creation of a system of international economic relations necessitated the harmonization of audit standards at the international level, which made it possible to expand the circle of users of financial statements, facilitated the comparison of financial performance of companies from different countries and made it possible to assess the competence and professionalism of audit firms.

International Standards on Auditing (ISA) - a reference book for professional auditors, which contains a description of generally accepted auditing methods. Russian practicing auditors can apply international standards in their activities, which will contribute to further integration into the international audit community.

Several organizations are involved in the development of professional requirements at the international level, incl. The International Federation of Accountants (IFAC), established in 1977. The Committee on International Auditing Practices (CMAP), which will be a standing committee of the IFAC Council, is directly involved in auditing standards.

International Standards on Auditing issued by the Committee should:

• promote the development of the profession in those countries where the level of professionalism is below the global level;
• to unify, as far as possible, the approach to audit on an international scale.

Status of International Standards on Auditing. ISAs are intended to be used in the audit of financial statements, as well as in the audit of other information and the provision of related services. ISAs contain the basic principles and necessary procedures, ϲᴏᴏᴛʙᴇᴛϲᴛʙ guides presented in the form of explanatory and other material. It is worth saying that in order to ensure the understanding and correct application of the basic principles and necessary procedures, along with the ϲᴏᴏᴛʙᴇᴛϲᴛʙ guidance, it is extremely important to consider the full text of the ISA, including explanatory and other materials contained in them. And only in exceptional cases the auditor can deviate from ISA. With ϶ᴛᴏm, he must be ready to argue for such a digression.

The ISAs do not override local regulations governing the audit of financial or other information in any given country. To the extent that the ISAs ϲᴏᴏᴛʙᴇᴛϲᴛʙ comply with local regulations in a particular case, an audit of financial or other information in each country, conducted in accordance with local regulations, should comply with the ISAs. In the event that local regulations differ or conflict with the ISAs in a particular case, it is essential for IFAC member organizations to comply with the membership obligations stipulated in the IFAC Constitution with respect to those ISAs.

Status It is worth saying - provisions on international auditing practice. It is worth saying that the Regulations on International Auditing Practices (PIAP) are developed with the aim of providing practical assistance to auditors in complying with standards and ensuring good auditing practice.

The approved text of a draft for review, standard or regulation is the text published by IFAC in English. IFAC member organizations are entitled to translate these documents after obtaining the appropriate permission from IFAC for publication in the language of their country. Translation of documents is carried out at the expense of member organizations and must include the name of the organization that prepared it, as well as a reference to the fact that this document will be a translation of the approved text.

The first edition of the ISA in Russian was an important step in the transition of Russian auditors to international standards. At the same time, the ϶ᴛᴏ edition was replete with errors and inaccuracies, which caused criticism from those Russian auditors who were familiar with the English-language primary source. The ISA 1999 edition in Russian was still undergoing the editing process when the International Federation of Accountants IFAC released the 2000 edition in English. This circumstance created new objective prerequisites for the discrepancy between the latest version of ISA and Russian developments based on the official Russian translation of 1999.

In the ISA 2001 edition, a number of documents differ significantly from the 1999 edition, in addition, new standards have appeared by this time. Note that the text of the new translation was taken by Russian developers as a basis for the preparation of new Russian federal auditing standards.

In the ISA, all standards are collected in 10 semantic sections: introduction; responsibilities; planning; internal control system; audit evidence; using the results of the work of third parties; audit findings and opinions; special areas of audit; accompanying services; provisions on international audit practice.

Rules (standards) of audit activity in the Russian Federation

At the end of 1993, for the first time in our country, the Provisional Rules for Auditing Activities in the Russian Federation were adopted;

After the adoption of the Law on Auditing Activities, a legal vacuum formed for some time, since the decisions of some issues were already dictated by the Law. By the way, this problem was settled by the publication of the Federal Auditing Standards, which define the requirements for the procedure for conducting an audit or providing related services.

Federal auditing standards are divided into:

1. federal rules (standards) of audit activity;
2. internal rules (standards) of audit activity in force in professional audit associations, as well as rules (standards) of audit activity of audit organizations and individual auditors.

All federal rules (standards) in Russia can be classified into three groups:

1. Russian rules (standards) of audit activity, similar in content to the ϲᴏᴏᴛʙᴇᴛϲᴛʙ ISAs;
2. Russian rules (standards) of auditing activities that differ from ISAs, they will be analogous to them, in any significant moments;
3. Russian rules (standards) of audit activity and ISAs that have no mutual analogues.

As of August 1, 2006, 23 federal auditing standards have been developed and adopted in the Russian Federation:

1. "The purpose and basic principles of the audit of financial (accounting) statements";
2. "Audit documentation";
3. "Audit planning";
4. "Materiality in audit";
5. "Audit evidence";
6. "Auditor's report on financial (accounting) statements".
7. "Internal audit quality control";
8. "Assessment of audit risks and internal control carried out by the audited entity";
9. "Affiliates";
10. "Events after the reporting date";
11. "Applicability of the entity's going concern assumption".
12. “Agreement on the terms of the audit”;
13. "The Auditor's Responsibilities to Address Errors and Fraud in the Course of an Audit";
14. "Taking into account the requirements of regulatory legal acts of the Russian Federation during the audit";
15. “Understanding the activities of the audited entity”;
16. "Auditor's sample";
17. “It is worth saying - obtaining audit evidence in specific cases”;
18. “It is worth saying - the receipt by the auditor of confirming information from external sources”;
19. "Features of the first check of the audited entity";
20. "Analytical Procedures";
21. "Peculiarities of the audit of estimated values";
22. “Disclosure of information obtained as a result of the audit to the management of the audited entity and representatives of its owner”;
23. "Statements and clarifications of the management of the audited entity."

This list of standards will not be final, as the development of standards in Russia continues, and at the same time the process of making changes and additions to already adopted standards is underway. The adoption at the national level of audit standards, ϲᴏᴏᴛʙᴇᴛϲᴛʙ ISAs, will be an important step towards reforming the Russian audit towards integration with international requirements.

Intracompany auditing standards

Federal auditing standards and the provisions of the Law on Auditing have given greater independence to auditors in solving certain practical problems of auditing. Many issues can be settled by the auditors on their own and fixed by them in the internal audit rules.

Internal audit standards define uniform requirements for the audit procedure and its quality, create an additional level of assurance of audit results if they are observed. Intra-company auditing standards can be divided into two groups: standards of self-regulatory audit associations (accredited) and intra-company standards proper.

Self-regulatory audit associations have the right to develop standards and methodological materials for the application of federal standards, where they may establish additional requirements for auditing, but they should not contradict federal auditing standards and the Law on Auditing. Material published on http: // site

Auditing organizations and individual auditors have the right to establish their own rules (standards) of audit activity, which cannot contradict the federal rules of audit activity and cannot set requirements lower than those specified in federal standards. These may include instructions adopted and approved by the organization, methodological developments, manuals and other documents that reveal the internal approaches of the company to the audit.

Internal standards according to their purpose can be combined into the following groups:

1. standards containing general provisions on audit;
2. establishing the procedure for conducting an audit;
3. establishing the procedure for the formation of conclusions and conclusions of auditors;
4. specialized standards;
5. establishing the procedure for providing audit-related services;
6. for education and training.

Rules (standards) of the audit are general guidelines and rules that help auditors in the performance of their duties to conduct audits and regulate the basic principles and features of auditing. The main purpose of the rules (standards) of audit activity is to provide all auditors and users of audit services with a uniform understanding of the basic principles and objectives of the audit, the rights and obligations of auditors, methods and techniques for forming and expressing an independent audit opinion. The value of the rules (standards) of audit activity lies in the fact that they: contribute to ensuring the high quality of the audit; establish uniform requirements for the implementation of the audit; help users of financial information understand the nature and methods of an audit; assist auditors in negotiations with the audited entity; provide a link between the individual elements of the audit process; force auditors to improve their knowledge and skills; streamline and facilitate audit work, etc. Russian rules (standards) of audit activity are divided into federal rules (standards) of audit activity, internal rules (standards) of audit activity in force in professional audit associations, internal rules (standards) of audit activity of audit organizations and individual auditors.

Obligation of federal rules (standards) of audit. Federal auditing rules (standards) are mandatory for audit firms and individual auditors, as well as audited entities, with the exception of the provisions for which it is indicated that they are advisory in nature.

Composition and main groups of federal rules (standards) of audit. Russian federal audit rules (standards) include eleven groups (introductory remarks, responsibility, planning, internal control, audit evidence, use of the work of third parties, conclusions and reports in the audit, specialized areas, assignments, provisions on international audit practice, education and training of personnel ), ten of which correspond to groups of international standards (with the exception of the group "Education and training"). All federal rules (standards) of audit activity can be divided into three main groups: general rules (standards) of audit, which are a set of professional requirements regarding the qualifications of the auditor, the independence of the auditor's point of view on all issues related to the work performed, etc .; rules (standards) for conducting an audit, which disclose provisions on the need to plan the work of an auditor, study and evaluate accounting systems, internal control and obtain evidence, etc.; rules (standards) for drawing up a report, which provide an indication of which accounting statements are checked during the audit, whether they were drawn up in accordance with generally accepted rules, as well as delimiting the functions of the auditor and the administration of the audited entity.

The trend in the development and use of standards in auditing. On the basis of the second edition of the translation of international auditing standards into Russian in February-April 2002, drafts of the first group of new federal rules (standards) for auditing were developed. The first group included the following rules (standards) of audit activity: "The purpose and basic principles of the audit of financial statements", "Documentation of the audit", "Planning the audit", "Materiality in the audit", "Auditor's report on financial (accounting) statements", "Risk Assessment and Internal Control", "Internal Audit Quality Control", "Affiliates", "Events after the Reporting Date", "Applicability of the Going Concern Assumption", "Education of the Auditor". Prior to the approval of these standards by the Government of the Russian Federation, the rules (standards) of audit activity approved by the Commission on Audit Activities under the President of the Russian Federation shall apply. The first six of these standards were approved by the Government Decree of September 23, 2002. A decision was made to prepare a working version of the glossary (a list of basic terms and concepts for auditing). The developed draft rules (standards) of audit activity largely comply with international auditing standards, since it was decided that when they are numbered, the same coding system will be used that is used when numbering international auditing standards (a three-digit number, the first digit of which corresponds to the section of the international standard audit, the second - the number of the standard within this section, and the third digit for the standards of the first stage was equal to zero; in the future it can be used so that new standards can be located among the previously developed standards of this section).

The structure of the construction and sections of the rules (standards) of auditing. The rules (standards) of audit activity basically have a single structure of construction and contain the following sections: general principles of the standard - the purpose and necessity of developing this standard; standardization object; scope of the standard; relationship with other standards; basic concepts and definitions (if necessary) used in the standard, which covers new terms and their characteristics; the essence of the standard, which formulates a problem that requires a description, analyzes it and provides methods for solving it; practical applications that include various applications - diagrams, tables, sample documents, etc.

Discrepancies between International Auditing Standards and Russian Auditing Standards. Russian auditing standards are based on international ones and are very close to them in content. The existing discrepancies are related to the peculiarities of the style and design of documents, the details of the presentation, practical examples used, as well as the national accounting system, Russian legislation: Russian auditing standards were based on the current Russian legislation, which made it impossible for us to use certain provisions of international auditing standards (for example, according to preparation of an auditor's report); international auditing standards are based on the Western "generally accepted system of accounting principles" (GAAP) and often contradict the current Russian accounting principles; international auditing standards are based on realities that are little known to us (there are no official documents regulating the requirements for the internal control system of an enterprise). If Russia establishes federal rules (standards) for auditing that comply with international auditing standards, then the degree of confidence of foreign users in reporting audited in accordance with Russian rules (standards) for auditing will increase.

Internal Auditing Standards

Importance of internal auditing standards. The use of internal standards in audit organizations makes it possible to formulate uniform basic requirements for employees of an audit organization when conducting an audit and performing related services, and also contributes to: compliance with the requirements of federal rules (standards) of audit activity; reducing the complexity of audits; facilitating the collection of necessary evidence; reducing the time of verification; reducing the risk of errors in the formulation of the conclusion; the use of audit assistants for the audit; increase the volume of audit services performed.

Types of internal audit standards. Internal auditing standards are divided into two groups, i.e. internal rules (standards) of auditing in force in accredited professional audit associations and developed by them and internal rules (standards) of auditing activities of audit organizations (auditors), which are documents detailing and regulating uniform requirements for the organization of work of audit organizations, the implementation and execution of audit services (they must be accepted and approved by the audit organization in order to ensure the effectiveness of practical work and its adequacy to the accepted Russian auditing standards).

Blocks of internal audit standards. Internal audit standards include the following blocks: standards for the internal structure of the audit organization and the technology for organizing its activities, which reveal its organizational structure, the principles of relationships with audited entities, the structure of internal control and internal reporting, the powers and duties of employees, the requirements for the level of their education and qualifications, issues of professional ethics, etc.; standards that decipher, supplement and clarify the provisions of federal rules (standards) of audit or internal rules (standards) of audit of accredited professional audit associations, which can be classified into such groups as: responsibility of auditors; audit planning; study and evaluation of the internal control system of the audited entity; obtaining audit evidence; using the work of third parties; the procedure for the formation of conclusions and conclusions in the audit; specialized auditing standards; methods for conducting checks on sections and accounts of accounting, which are useful for novice auditors and assistant auditors, helping them to insure themselves against gross errors and make the right decision in about 80% of cases; standards for services related to the audit, drawn up on the organization of accounting, the principles of restoration of accounting, automation of accounting, etc.

Development of internal audit standards. To ensure effective work on the creation of a system of internal standards of an audit organization, it is recommended to create a Methodological Council or other special collegial body within it. When developing internal audit standards, one should take into account their expediency (practical significance, relevance, priority), continuity and consistency (consistency and relationship with other internal standards), completeness and detail (internal standards should cover all issues of the problem under study and cover them in detail), and also the unity of the terminological base (unity of interpretation of terms in all standards and documents). Internal auditing standards should contain details such as the serial number of the standard, the date of entry into force, the name and purpose of the standard, the person who approved the standard and scope. They must be approved by order of the head of the audit organization, the board of founders or other authorized body (in cases provided for by the constituent documents).

- these are uniform requirements for the procedure for the implementation of audit activities and contain the basic principles and techniques that the auditor must follow in his professional activities.

Auditing rules (standards) are one of the instruments of regulation. Auditing standards are general rules to assist auditors in fulfilling their auditing responsibilities.

• more fully comply with the requirements of auditing standards;
• make the technology and organization of the audit more rational, reduce the complexity of audit work on inspections of individual sections, provide additional control over the work of auditors and other specialists.
• to promote the introduction of scientific achievements and new technologies into audit practice, to strengthen the public prestige of the profession;
• ensure high quality of audit work and help reduce audit risk;
• detail the professional conduct of the auditor in accordance with the ethical standards of the audit.

According to the level of organization of public relations, audit standards are divided into into international and national, and by content and purpose into general, working, auditing reporting standards and specific ones.

International Auditing Standards prepared in order to unify auditing approaches on an international scale and increase the level of professionalism in those countries where the level of audit is below the global level. The development of international auditing standards is carried out by the Committee on International Auditing Practice, which operates as a permanent autonomous committee under the International Federation of Accountants (IFAC).

National Standard of the Russian Federation are the rules (standards) of audit activity - regulatory documents regulating uniform requirements for the implementation and execution of an audit and related services, as well as for assessing the quality of an audit, the procedure for preparing auditors and assessing their qualifications. They become the basis in court to prove the quality of the audit and determine the degree.

The rules (standards) of audit activity are divided into:

• on federal rules (standards);
• internal rules (standards) in force in professional audit associations, as well as in audit organizations and an individual auditor, i.e. internal company rules (standards).

Federal rules (standards) are approved by the Government of the Russian Federation. These rules (standards) are mandatory for auditors and audit organizations.

According to paragraph 5 of Art. 9 of the Federal Law of 07.08.2001 No. 119-FZ “On Auditing”, professional audit associations, in accordance with their charters, have the right to establish for their members the rules (standards) of auditing, which cannot contradict the federal rules (standards) of auditing and contain requirements lower than those established in federal rules (standards).

General standards disclose the objectives and principles of the audit of financial statements, contain requirements for the degree of qualification of the auditor in order to effectively and professionally perform audit procedures. The auditor must have appropriate training and knowledge, be independent, and act with due diligence.

Working standards are the basic rules for conducting audit activities and represent a structure or general scheme of purposeful systematic actions that the auditor must follow in his work (including planning and supervision of the auditor, reviewing the internal control structure, obtaining competent evidence).

Reporting Standards present the main requirements for the composition, content of the auditor's report, the procedure for their submission.

Specific standards designed to audit individual industries, provide other services.

Intracompany auditing standards

In accordance with the legislation of the Russian Federation, internal company rules (standards) of auditing activities in force in an audit organization and an individual auditor are referred to as internal standards.

Intracompany auditing standards- documents detailing and regulating the uniform requirements for the implementation and execution of the audit, adopted and approved by the audit organization in order to ensure the effectiveness of practical work and its compliance with the requirements of the rules (standards) of auditing.

The audit organization must form a package of internal standards, reflecting its own approach to the audits carried out and the conclusions drawn up, based on the generally established principles of organizing and conducting an audit. Intracompany standards govern the activities of auditors within a given audit firm and provide additional framework for resolving all sorts of real and potential conflicts.

The in-house standards of an audit organization may include accepted and duly approved standards, instructions, methodological developments, manuals and other documents that are mandatory for use in an audit organization, revealing internal approaches to the implementation of audit activities. Taken together, they represent a description of an integrated approach to the organization and technology of auditing.

Intracompany standards are approved by the head of the audit organization, unless otherwise provided by the constituent documents. These standards are reviewed in case of changes in the legislation of the Russian Federation, specialization, change of ownership.

The requirements of internal standards of the audit organization should regulate the implementation of audit procedures in accordance with the basic principles of audit and generally accepted ethical standards.

GOVERNMENT OF THE RUSSIAN FEDERATION

RESOLUTION

ON APPROVAL OF FEDERAL RULES (STANDARDS)

AUDITING ACTIVITIES

In accordance with the Federal Law "On Auditing", the Government of the Russian Federation decides:

Approve the attached federal rules (standards) of audit activity.

Prime Minister

Russian Federation

M.KASYANOV

Approved

Government Decree

Russian Federation

FEDERAL RULES (STANDARDS)

AUDITING ACTIVITIES

(as amended by Decrees of the Government of the Russian Federation of 04.07.2003 N 405,

dated 07.10.2004 N 532, dated 16.04.2005 N 228,

dated 25.08.2006 N 523, dated 22.07.2008 N 557,

dated 19.11.2008 N 863, dated 02.08.2010 N 586,

dated 01/27/2011 N 30, dated 12/22/2011 N 1095)

RULE (STANDARD) N 1.

PURPOSE AND BASIC PRINCIPLES OF THE AUDIT

FINANCIAL (ACCOUNTING) STATEMENTS

Introduction

1. This federal rule (standard) of audit activity, developed taking into account international auditing standards, establishes common goals and basic principles for conducting an audit of financial (accounting) statements (hereinafter referred to as the audit), which the audit organization and the individual auditor (hereinafter referred to as the auditor) are required to comply.

Purpose of the audit

2. The purpose of the audit is to express an opinion on the reliability of the financial (accounting) statements of the audited entities and the compliance of the accounting procedure with the legislation of the Russian Federation. The auditor expresses his opinion on the reliability of the financial (accounting) statements in all material respects.

Although the auditor's opinion may contribute to the growth of confidence in the financial (accounting) statements, the user should not take this opinion either as an expression of confidence in the continuity of the entity being audited in the future, or as confirmation of the effective conduct of business by the management of this entity.

The paragraph is excluded. - Decree of the Government of the Russian Federation of October 7, 2004 N 532.

General audit principles

3. In the performance of his professional duties, the auditor must be guided by the standards established by professional audit associations, of which he is a member (professional standards), as well as the following ethical principles:

independence;

honesty;

objectivity;

professional competence and integrity;

confidentiality;

professional behaviour.

4. The auditor in the course of planning and conducting the audit must show professional skepticism and understand that there may be circumstances that entail a material misstatement of the financial (accounting) statements.

The exercise of professional skepticism means that the auditor critically assesses the weight of the audit evidence obtained and carefully examines audit evidence that contradicts any documents or statements of management or casts doubt on the reliability of such documents or statements. Professional skepticism should be exercised during the audit, in particular, not to overlook suspicious circumstances, not to make unjustified generalizations in drawing conclusions, not to use erroneous assumptions in determining the nature, timing and extent of audit procedures, as well as in evaluating their results.

When planning and conducting an audit, the auditor should not assume that the management of the entity being audited is dishonest, but should not assume that management is unconditionally honest. Oral and written representations by management are not a substitute for the auditor's need to obtain sufficient appropriate audit evidence to draw reasonable conclusions on which to base the auditor's opinion.

Audit Scope

5. The term "audit scope" refers to the audit procedures that are considered necessary to achieve the audit objective under the circumstances. The procedures necessary for conducting an audit must be determined by the auditor, taking into account the federal rules (standards) of auditing, internal rules (standards) of auditing, applied in professional audit associations, of which he is a member, as well as the rules (standards) of auditing activities of the auditor. In addition to the rules (standards), when determining the scope of the audit, the auditor must take into account federal laws, other regulatory legal acts and, if necessary, the terms of the audit assignment and the requirements for preparing an opinion.

Reasonable Confidence

6. The audit is designed to provide reasonable assurance that the financial (accounting) statements considered as a whole do not contain material misstatements. The concept of reasonable assurance is a general approach relating to the process of accumulating audit evidence necessary and sufficient for the auditor to conclude that there are no material misstatements in the financial (accounting) statements, considered as a whole. The concept of reasonable assurance applies to the entire audit process.

7. The limitations inherent in the audit and affecting the auditor's ability to detect material misstatements in the financial (accounting) statements take place due to the following reasons:

sampling methods and testing are used during the audit;

any accounting and internal control systems are imperfect (for example, they cannot guarantee the absence of collusion);

The majority of audit evidence provides evidence to support a particular conclusion, rather than being exhaustive.

8. An additional factor limiting the reliability of an audit is that the work performed by the auditor to form his opinion is based on his professional judgment, in particular with respect to:

gathering audit evidence, including when determining the nature, timing and extent of audit procedures;

drawing conclusions based on audit evidence, for example, when determining the reasonableness of accounting estimates obtained by the management of the entity under audit in the course of preparing financial (accounting) statements.

9. In addition, there are other limitations that may affect the strength of the evidence used to draw conclusions about certain financial (accounting) reporting assertions (for example, transactions between affiliates). For such cases, some rules (standards) of audit activity define special procedures that, by virtue of the content of certain premises, provide sufficient appropriate audit evidence in the absence of:

unusual circumstances that increase the risk of material misstatement of the financial (accounting) statements beyond what would be expected under normal circumstances;

a sign indicating the presence of any material misstatement of the financial (accounting) statements.

Responsibility for financial

(accounting) reporting

10. While the auditor is responsible for formulating and expressing an opinion on the reliability of the financial (accounting) statements, the responsibility for the preparation and presentation of financial (accounting) statements lies with the management of the entity being audited. An audit of financial (accounting) statements does not release the management of the audited entity from such responsibility.

RULE (STANDARD) N 2.

AUDIT DOCUMENTATION

(as amended by Decree of the Government of the Russian Federation of 07.10.2004 N 532)

Introduction

1. This federal rule (standard) of audit activity, developed taking into account international auditing standards, establishes uniform requirements for the preparation of documentation in the process of auditing financial (accounting) statements.

2. The audit organization and the individual auditor (hereinafter referred to as the auditor) must document all the information that is important in terms of providing evidence supporting the audit opinion, as well as evidence that the audit was conducted in accordance with the federal rules (standards) of auditing .

3. The term "documentation" refers to working papers and materials prepared by and for the auditor, or received and retained by the auditor in connection with the audit. Working documents may be presented in the form of data recorded on paper, photographic film, in electronic form or in other form.

4. Working papers are used:

when planning and conducting an audit;

when exercising current control and checking the work performed by the auditor;

to record the audit evidence obtained to support the auditor's opinion.

5. The auditor should write working papers in sufficient detail and in sufficient detail to provide an overall understanding of the audit.

6. The auditor should reflect in the working papers information about the planning of the audit work, the nature, timing and extent of the audit procedures performed, their results, as well as the conclusions drawn from the obtained audit evidence. The working papers should contain the auditor's rationale for all significant points on which it is necessary to express his professional judgment, together with the auditor's conclusions on them. In cases where the auditor has reviewed complex matters of principle or expressed professional judgment on any matters important to the audit, the working papers should include the facts that were known to the auditor at the time of formulating the conclusions, and the necessary arguments.

7. The auditor has the right to determine the scope of documentation for each specific audit, guided by his professional opinion. Reflection in the documentation of each document or issue considered by the auditor during the audit is not necessary. At the same time, the scope of the audit documentation should be such that, if it becomes necessary to transfer work to another auditor who does not have experience in this assignment, the new auditor could solely on the basis of this documentation (without resorting to additional conversations or correspondence with the previous auditor) to understand the work done and the validity of the previous auditor's decisions and conclusions.

8. The form and content of working papers are determined by factors such as:

the nature of the audit engagement;

requirements for an audit report;

the nature and complexity of the activities of the entity being audited;

the nature and condition of the accounting and internal control systems of the entity being audited;

the need to give instructions to the auditor's employees, to monitor them and check their work;

specific methods and techniques used in the audit process.

9. Working papers should be drawn up and systematized in such a way as to meet the circumstances of each specific audit and the needs of the auditor during its implementation. In order to increase the efficiency of preparation and verification of working documents, it is recommended that standard forms of documentation be developed in an audit organization (for example, a standard structure of an audit file (folder) of working documents, forms, questionnaires, standard letters and appeals, etc.). This standardization of documentation makes it easier to assign work to subordinates and at the same time allows you to reliably control the results of their work.

10. To improve the efficiency of the audit, it is allowed to use during the audit schedules, analytical and other documentation prepared by the entity being audited. In these cases, the auditor must ensure that such materials are properly prepared.

11. Working papers usually contain:

information regarding the legal form and organizational structure of the audited entity;

extracts or copies of necessary legal documents, agreements and protocols;

information about the industry, economic and legal environment in which the audited entity operates;

information reflecting the planning process, including audit programs and any changes thereto;

evidence of the auditor's understanding of the accounting and internal control systems;

evidence supporting the assessment of inherent risk, the level of risk of controls, and any adjustments to those assessments;

(as amended by Decree of the Government of the Russian Federation of 07.10.2004 N 532)

evidence confirming the fact that the auditor analyzed the work of the audited entity on internal audit and the conclusions drawn by the auditor;

analysis of financial and economic operations and balances of accounting accounts;

analysis of the most important economic indicators and their trends;

information about the nature, time frame, scope of audit procedures and the results of their implementation;

evidence confirming that the work performed by the auditor's employees was carried out under the supervision of qualified specialists and was verified;

information about who performed the audit procedures, with an indication of the time they were performed;

detailed information on the procedures applied to the financial (accounting) statements of divisions and/or subsidiaries audited by another auditor;

copies of communications sent to and received from other auditors, experts and third parties;

copies of letters and telegrams on audit issues brought to the attention of the heads of the audited entity or discussed with them, including the terms of the audit agreement or identified significant shortcomings in the internal control system;

written statements received from the audited entity;

conclusions drawn by the auditor on the most significant audit matters, including errors and unusual circumstances that were identified by the auditor in the course of performing audit procedures, and details of actions taken in connection with this auditor;

copies of financial (accounting) statements and audit report.

12. In the case of audits over a number of years, some working paper files (folders) may be classified as permanent, updated as new information becomes available, but still significant, in contrast to current audit files (folders), which contain information relating primarily to the audit of a particular period.

Privacy, worker safety

documents and ownership of them

13. The auditor needs to establish appropriate procedures for ensuring confidentiality, safety of working documents, as well as for their storage for a sufficient period of time, based on the characteristics of the auditor's activities, as well as legal and professional requirements, but not less than 5 years.

14. Working papers are the property of the auditor. Although parts of the documents or excerpts from them may be provided to the audited entity at the discretion of the auditor, they cannot serve as a substitute for the accounting records of the audited entity.

RULE (STANDARD) N 3.

AUDIT PLANNING

(as amended by Decree of the Government of the Russian Federation of 07.10.2004 N 532)

Introduction

1. This federal rule (standard) of audit activity, developed taking into account international auditing standards, establishes uniform requirements for planning an audit of financial (accounting) statements (hereinafter referred to as an audit), which applies primarily to audits that the auditor conducts for more than a year for that audited entity. To conduct an audit during the first year, the auditor is required to expand the planning process to include matters other than those specified in this rule (standard).

2. An audit organization and an individual auditor (hereinafter referred to as the auditor) are obliged to plan their work so that the audit is carried out effectively.

3. Audit planning involves the development of an overall strategy and a detailed approach to the expected nature, timing and extent of audit procedures.

Work planning

4. The planning of the auditor's work helps to ensure that important areas of the audit are given the necessary attention, so that potential problems are identified and the work is performed at optimal cost, quality and in a timely manner. Planning allows you to effectively distribute the work among the members of the group of specialists involved in the audit, as well as coordinate such work.

5. The time spent on planning work depends on the scope of the audited entity, the complexity of the audit, the auditor's experience with this entity, as well as knowledge of the characteristics of its activities.

6. Obtaining information about the activities of the audited entity is an important part of work planning, it helps the auditor to identify events, transactions and other features that may have a significant impact on the financial (accounting) statements.

7. The auditor has the right to discuss certain sections of the general audit plan and certain audit procedures with employees, as well as with members of the board of directors and members of the audit committee of the audited entity in order to increase the effectiveness of the audit and coordinate audit procedures with the work of the audited entity's personnel. At the same time, the auditor is responsible for the correct and complete development of the overall plan and audit program.

General audit plan

8. The auditor needs to develop and document the overall audit plan, describing in it the expected scope and procedure for the audit. The overall audit plan should be detailed enough to guide the development of the audit program. At the same time, the form and content of the general audit plan may vary depending on the scope and specifics of the audited entity, the complexity of the audit and the specific methods used by the auditor.

9. In developing the overall audit plan, the auditor should take into account:

a) activities of the audited entity, including:

general economic factors and conditions in the industry that affect the activities of the entity being audited;

features of the audited entity, its activities, financial condition, requirements for its financial (accounting) or other reporting, including changes that have occurred since the date of the previous audit;

general level of management competence;

b) accounting and internal control systems, including:

the accounting policy adopted by the audited entity and its changes;

the impact of new regulatory legal acts in the field of accounting on the reflection in the financial (accounting) statements of the results of the financial and economic activities of the audited entity;

plans for the use of controls and substantive procedures during the audit tests;

c) risk and materiality, including:

expected assessments of inherent and control risks, identifying the most important areas for audit;

establishing levels of materiality for the audit;

the possibility (including based on past audits) of material misstatement or fraud;

(as amended by Decree of the Government of the Russian Federation of 07.10.2004 N 532)

identification of complex areas of accounting, including those where the result depends on the subjective judgment of the accountant, for example, when preparing estimates;

d) the nature, time frame and scope of procedures, including:

the relative importance of the various sections of accounting for the audit;

the impact on the audit of the presence of a computer accounting system and its specific features;

the existence of an internal audit unit of the audited entity and its possible impact on external audit procedures;

e) coordination and direction of work, current control and verification of work performed, including:

involvement of other audit organizations in the audit of branches, divisions, subsidiaries of the audited entity;

involvement of experts;

the number of territorially separate divisions of one audited entity and their spatial remoteness from each other;

the number and qualifications of specialists required to work with this audited entity;

e) other aspects, including:

the possibility that the entity's going concern assumption may be in question;

circumstances requiring special attention, such as the existence of affiliates;

features of the contract for the provision of audit services and legal requirements;

the term of work of the auditor's employees and their participation in the provision of related services to the audited entity;

the form and terms of preparation and submission to the audited entity of conclusions and other reports in accordance with the legislation, rules (standards) of audit activity and the terms of a specific audit assignment.

Audit Program

10. The auditor should establish and document an audit program that defines the nature, timing and extent of the planned audit procedures needed to carry out the overall audit plan. The audit program is a set of instructions for the auditor performing the audit, as well as a means of monitoring and verifying the proper performance of the work. The audit program may also include verifiable financial (accounting) reporting assertions for each area of ​​the audit and the time scheduled for the various areas or audit procedures.

11. In the process of preparing the audit program, the auditor must take into account the assessments of inherent risk and risk of controls obtained by him, as well as the required level of assurance that must be provided in substantive procedures, the timing of tests of controls and substantive procedures, coordination any assistance that is expected to be received from the audited entity, as well as the involvement of other auditors or experts. In the process of developing an audit program, the issues specified in paragraph 9 of this rule (standard) should be taken into account.

Changes in the overall plan and audit program

12. The overall audit plan and audit program should be updated and revised as necessary during the course of the audit. The auditor's planning of his work is carried out continuously throughout the duration of the audit engagement due to changing circumstances or unexpected results obtained during the performance of audit procedures. Reasons for significant changes to the overall audit plan and program should be documented.

RULE (STANDARD) N 4.

MATERIALITY IN THE AUDIT

(as amended by Decree of the Government of the Russian Federation of 07.10.2004 N 532)

Introduction

1. This federal rule (standard) of audit activity, developed taking into account international auditing standards, establishes uniform requirements regarding the concept of materiality and its relationship with audit risk.

2. An audit organization and an individual auditor (hereinafter referred to as the auditor) in the process of conducting an audit are required to assess materiality and its relationship with audit risk.

3. Information about individual assets, liabilities, income, expenses and business transactions, as well as components of capital, is considered material if its omission or distortion may affect the economic decisions of users taken on the basis of financial (accounting) statements. Materiality depends on the value of the indicator of financial (accounting) statements and/or errors, assessed in case of their absence or distortion.

materiality

4. The auditor evaluates what is material in his professional judgment.

When developing an audit plan, the auditor establishes an acceptable level of materiality in order to identify significant (from a quantitative point of view) misstatements. However, both the magnitude (quantity) and nature (quality) of misstatements must be taken into account. Examples of qualitative distortions are:

insufficient or inadequate description of accounting policies, when there is a possibility that the user of financial (accounting) statements will be misled by such a description;

failure to disclose information about a violation of regulatory requirements in the case where it is likely that the subsequent application of sanctions could have a significant impact on the results of the entity's activities.

5. The auditor needs to consider the possibility of misstatements in relation to relatively small amounts, which together can have a significant impact on the financial (accounting) statements. For example, an error in a month-end procedure could indicate a possible material misstatement if such an error were repeated every month.

6. The auditor considers materiality both at the level of financial (accounting) statements as a whole, and in relation to balances on individual accounting accounts, groups of similar transactions and cases of information disclosure. Materiality may be influenced by regulatory legal acts of the Russian Federation, as well as factors related to individual accounting accounts of financial (accounting) statements and the relationships between them. Depending on the considered aspect of the financial (accounting) statements, different levels of materiality are possible.

(as amended by Decree of the Government of the Russian Federation of 07.10.2004 N 532)

7. The auditor should consider materiality when:

determining the nature, timing and scope of audit procedures;

assessment of the effects of misstatements.

Relationship between materiality

and audit risk

8. When planning an audit, the auditor considers what could cause a material misstatement of the financial (accounting) statements. The auditor's assessment of materiality, relating to individual accounting accounts and groups of similar transactions, helps the auditor decide such issues as, for example, the question of which indicators of financial (accounting) statements to check, as well as the use of selective checks and analytical procedures. This allows the auditor to select audit procedures that are expected to collectively reduce audit risk to an acceptably low level.

9. Between materiality and audit risk there is an inverse relationship, that is, the higher the level of materiality, the lower the level of audit risk, and vice versa. The inverse relationship between materiality and audit risk is taken into account by the auditor when determining the nature, timing and extent of audit procedures. For example, if, after planning specific audit procedures, the auditor determines that the acceptable level of materiality is lower, then audit risk is increased. The auditor compensates for this either by reducing the pre-assessed level of control risk where possible and maintaining the lower level through enhanced or additional tests of controls, or by reducing the risk of misstatement by changing the nature, timing and extent of planned substantive procedures.

Materiality and audit risk in assessing

audit evidence

10. The assessment of materiality and audit risk at the initial stage of planning may differ from such an assessment after summing up the results of audit procedures. This may be due to a change in circumstances or a change in the auditor's knowledge of the results of the audit. For example, if the audit is planned before the end of the reporting period, the auditor can only predict the results of economic activities and the financial position of the entity being audited. If actual results of operations and financial position are materially different from those projected, the assessment of materiality and audit risk may change. In addition, the auditor, in planning his or her work, may deliberately set an acceptable level of materiality at a level lower than that which is intended to be used to evaluate the audit results. This may be done to reduce the likelihood that misstatements will not be detected, as well as to provide the auditor with some degree of safety in assessing the consequences of misstatements discovered during the audit.

Assessing the Consequences of Misstatements

11. When evaluating the reliability of financial (accounting) statements, the auditor should determine whether the totality of uncorrected misstatements identified during the audit is material.

12. The set of uncorrected misstatements includes:

specific misstatements identified by the auditor, including the results of uncorrected misstatements identified during a previous audit;

the auditor's best estimate of other misstatements that cannot be specifically identified (ie, predictable errors).

13. If the auditor concludes that misstatements may be material, the auditor should reduce audit risk by performing additional audit procedures or by requiring the entity's management to amend the financial (accounting) statements. Management has the right to amend the financial (accounting) statements taking into account the identified misstatements.

14. If the entity's management refuses to amend the financial (accounting) statements, and the results of the extended (additional) audit procedures do not allow the auditor to conclude that the totality of uncorrected misstatements is not material, the auditor should consider appropriate modification of the auditor's report. in accordance with the federal rule (standard) of audit activity "Auditor's report on financial (accounting) statements".

15. If the aggregate of uncorrected misstatements identified by the auditor approaches materiality, the auditor needs to determine whether it is probable that undetected misstatements, taken together with the aggregate of detected but uncorrected misstatements, could exceed the auditor's determination of materiality. Therefore, as the cumulative uncorrected misstatements approach the level of materiality, the auditor considers reducing the risk through additional audit procedures or requires the entity's management to amend the financial (accounting) statements to take into account the identified misstatements.

ConsultantPlus: note.

Order of the Ministry of Finance of the Russian Federation of August 16, 2011 N 99n approved a new federal standard for auditing (FSAD 7/2011) "Audit evidence", which comes into force from the date of entry into force of the Decree of the Government of the Russian Federation on recognizing rule (standard) N 5 as invalid evidence", approved by Decree of the Government of the Russian Federation of September 23, 2002 N 696.

RULE (STANDARD) N 5.

AUDITOR'S EVIDENCE

Has lost its power. - Decree of the Government of the Russian Federation of December 22, 2011 N 1095.

ConsultantPlus: note.

Order of the Ministry of Finance of the Russian Federation dated 20.05.2010 N 46n approved the federal auditing standard (FSAD 1/2010) "Auditor's report on accounting (financial) statements and the formation of an opinion on its reliability".

RULE (STANDARD) N 6.

AUDIT REPORT

FOR FINANCIAL (ACCOUNTING) STATEMENTS

Has lost its power. - Decree of the Government of the Russian Federation of 02.08.2010 N 586.

RULE (STANDARD) N 7.

QUALITY CONTROL OF PERFORMANCE OF AUDIT TASK

(as amended by Decree of the Government of the Russian Federation of November 19, 2008 N 863)

Introduction

1. This federal rule (standard) of audit activity, developed taking into account international auditing standards, establishes uniform requirements for quality control of the performance of audit assignments.

2. Members of the audit team:

a) must follow the quality control procedures applicable to the specific audit engagement;

b) must provide the audit organization with relevant information to ensure the effective functioning of the quality control system in terms of compliance with the principle of independence;

c) may rely on the firm's established quality control policies and procedures (for example, in relation to the skills and professional competence of employees, the principles and procedures for hiring employees and continuing professional education; in relation to independence, the principles and procedures for collecting and reporting relevant information about independence, in relation to maintaining relationships with clients - on the principles and procedures governing the procedure for resolving the issue of accepting a new client for service or continuing cooperation with existing clients, in relation to compliance with regulatory legal acts of the Russian Federation and professional standards - monitoring).

Definitions

3. The terms used in this rule (standard) mean the following:

a) "audit leader" - an authorized person of the audit organization who is responsible for the performance of the audit engagement and the preparation of the audit report;

b) "engagement quality review" - a process designed to objectively evaluate the significant judgments and conclusions of the audit team formed on the basis of the audit results before issuing the auditor's report;

c) "engagement quality reviewer" means a senior member of the firm or another authorized person of the firm, a third party competent person or a group of such third parties who has sufficient appropriate experience and authority to objectively evaluate significant judgments before issuing the auditor's report. and conclusions of the audit team formed on the basis of the results of the audit;

d) "audit team" - employees performing an audit engagement, including all experts engaged by the audit organization to perform this engagement;

e) "publicly significant economic entity" - an open joint stock company, another organization whose securities are admitted to trading on stock exchanges and (or) organizers of trading on the securities market (for example, a credit or insurance organization, an investment fund, etc.) ;

f) "monitoring" means the process of reviewing and evaluating an audit firm's audit quality system, including periodic selective inspection of completed audit engagements, to achieve reasonable assurance that the quality control system is operating effectively;

g) "network organization" - an economic entity that has common control, ownership or management with another organization and which can be recognized on a reasonable basis by any third party with relevant information as part of a national or international network;

h) "leading officer of an audit organization" - a person with the authority to conclude contracts for the provision of audit and audit-related services on behalf of an audit organization;

i) "employees" - senior employees of the audit organization and other specialists involved in the audit activities of the audit organization and the provision of services related to the audit;

j) "professional standards" - federal rules (standards) of audit activity, internal rules (standards) of audit activity in force in professional audit associations, rules (standards) of audit activity of audit organizations, as well as the Code of Ethics of Auditors of Russia;

k) "specialists" - employees of the audit organization, with the exception of senior employees;

l) "outside competent person" - a person who is not an employee of the audit organization and has professional competence sufficient to direct the audit (for example, a senior employee of another audit organization or a representative (with relevant experience) of a professional audit association whose members can perform tasks by audit).

Responsibilities of the audit manager

to ensure the quality of the audit

4. The audit leader is responsible for the quality of the performance of each audit engagement that he/she supervises.

5. At all stages of the audit, the audit partner must demonstrate to the audit team members the high quality of work by the example of their own actions or by appropriate instructions to the audit team members. Such actions and instructions should emphasize:

a) the importance of complying with the regulatory legal acts of the Russian Federation and professional standards, applicable principles and procedures for quality control of the audit organization, as well as issuing an audit opinion that meets the conditions of a specific assignment;

b) quality assurance, which is a top priority.

Ethical Requirements

6. The audit partner should monitor compliance with ethical requirements by members of the audit team.

7. Ethical requirements applicable to audits are established by the Code of Ethics for Auditors of Russia and include:

a) honesty;

b) objectivity;

c) professional competence and due diligence;

d) confidentiality;

e) professional conduct;

e) independence.

8. The audit partner should pay particular attention to ethical compliance by all members of the audit team throughout the audit. If the audit partner becomes aware of non-compliance with ethical requirements by members of the audit team, then he should consult with the appropriate persons from the staff of the audit organization and ensure that appropriate disciplinary actions are taken against those who do not comply with ethical requirements.

9. The audit partner and other members of the audit team should document the problems identified and how they were resolved.

10. The audit partner should express an opinion on whether the independence requirements applicable to the specific audit engagement have been met and should:

a) obtain information from the audit firm and, if appropriate, from network organizations in order to identify and evaluate circumstances and relationships that create threats to independence;

b) evaluate information about identified violations of independence procedures, if any, and determine whether they pose a threat to independence for a particular audit engagement;

c) take appropriate steps to eliminate threats to independence or reduce them to an acceptably low level, and report any such incidents to the firm in a timely manner so that the firm can take appropriate action;

d) document the conclusions regarding independence, as well as any relevant reasoning supporting these conclusions.

11. The audit partner may identify a threat to independence in relation to a particular audit engagement that safeguards have failed to eliminate or reduce to an acceptably low level. In such a case, the audit partner should consult with appropriate individuals within the audit firm to ensure that appropriate safeguards are in place to ensure that threats to independence are eliminated or reduced to an acceptably low level, up to and including abandoning the engagement. All reasoning and conclusions regarding this issue should be documented.

Decision to accept a new client

or continuation of cooperation with the client on a specific

audit engagement

12. The audit partner should ensure that all necessary procedures in relation to the decision to accept a new client or continue to work with a client on a specific audit engagement have been followed and that appropriate conclusions have been drawn and documented.

13. The decision to accept a new client or continue cooperation with a client may be initiated by the head of the audit or another person.

14. The decision to accept a new client or continue cooperation with a client on a specific audit engagement provides for:

assessment of the honesty of the main owners of the potential audited entity, its management and representatives of the owner;

assessment of the professional competence of the members of the audit team necessary to perform a specific audit engagement, as well as the availability of the necessary time and resources, the ability of the audit organization and members of the audit team to comply with ethical requirements.

If questions arise in evaluating one of these conditions, then the members of the engagement team should seek the advice of the audit firm's management or legal counsel, documenting how to resolve these issues.

15. The decision to continue with the client is preceded by an assessment of the significant issues that have arisen during the current or previous audit engagement, as well as the impact of their consequences on the continuation of cooperation. For example, the client may have begun expanding its activities in an area in which the employees of the audit organization do not have the necessary experience and knowledge.

16. The head of the audit, in the event that he receives information that, being known earlier, would lead to the refusal to perform the audit engagement, must communicate this information to the audit organization in a timely manner to ensure the adoption of a collegial decision.

Formation of the audit team

17. The audit leader must make sure that the members of the audit team have the appropriate skills, professional competence, authority and time necessary to complete the audit engagement in accordance with the regulatory legal acts of the Russian Federation and professional standards.

18. Relevant skills and professional competence means:

a) understanding of the audit engagement and practical experience in audit engagements of a similar nature and complexity, acquired through training and previous work;

b) knowledge and understanding of the regulatory legal acts of the Russian Federation and professional standards;

c) knowledge in the field of information technology;

d) knowledge of the industries in which the client operates;

e) the ability to form professional judgment;

f) an understanding of the quality control principles and procedures established by the firm.

Completing a task

19. The head of the audit is responsible for the distribution of work, supervision and execution of the audit engagement in accordance with the regulatory legal acts of the Russian Federation and professional standards, as well as for issuing an audit opinion that complies with the terms of the assignment.

20. The audit partner leads the audit engagement by informing the engagement team of their duties and responsibilities, the nature of the client's business, risk issues, issues that may arise, and the detailed approach to the engagement.

It is the responsibility of the members of the engagement team to maintain objectivity and exercise due professional skepticism, and to perform assigned work in an ethical manner. Members of the engagement team may seek clarification from more experienced members, maintaining appropriate professional communication within the engagement team.

21. Members of the audit team should understand the goals and objectives of the audit engagement they are performing.

22. Engagement supervision by the audit partner includes:

a) monitoring the progress of the audit engagement;

b) an assessment of the skills and professional competence of each member of the audit team, whether they have sufficient time to complete the audit engagement, understand the instructions given to them, and whether their work is consistent with the planned approach;

c) addressing significant issues that arise during the course of the audit engagement, assessing their significance and, if necessary, changing the planned approach accordingly;

d) identifying issues that require clarification or consultation during the audit with more experienced members of the audit team.