An audit is ... Features of audits
Audit is one of the main methods of control in an enterprise. It is carried out to check the quality of execution of legislation when a company performs monetary transactions. Consider further what features hasfinancial audit.
In accordance with the law,control and auditare regular and binding. Checks are performed directly on the enterprise. Audit is the analysis of primary documentation, registers of statistical and accounting reports, actual availability of money. Usually, the procedure is carried out according to a predetermined plan.
Monitoring and revisionmay be documentary and factual. The first involves checking all sorts of papers. On the basis of the check, the expediency and legality of the expenses incurred by the enterprise are determined. The actual audit is the verification of the presence of securities, property, money in the firm.
Depending on the execution time, there are planned and unscheduled inspections.The first are carried out in the mode approved by higher bodies (departments, ministries). Scheduled inspections of production enterprises are carried out at least 1 time per year, non-production - 2 times during the year.
Depending on the period of activity to be checked, revisions can be selective and frontal. The latter are also called complete. In the course of them all monetary transactions of the subject for a specific period are checked. A selective (partial) audit is an analysis of activities over a short period of time. Depending on the amount of work, checks are divided into:
- Complex imply an audit of the financial activities of the subject in different areas.
- Thematic are reduced to the analysis of any particular area of the company.
In the process of carrying out comprehensive audits, auditors are entitled to:
1. Investigate primary documentation, reports, registers, estimates, plans and other information carriers, cash amounts, material values, require the provision of written explanations from officials and other persons, necessary certificates in case of questions concerning the survey.
2Check the account statements in determining the completeness of the posting of money at the box office received in banking institutions. If necessary, inspectors may specify in financial and credit organizations data on the amounts issued to the inspected enterprise.
3. To organize or carry out partial or continuous inventories of material values, in case of need to seal cash rooms and cash desks, warehouses and material warehouses, archives, storerooms. The seal in such cases is with the inspector, and the keys are with the financially responsible employee.
4. If necessary, receive from other enterprises, organizations, institutions, regardless of departmental subordination, inquiries regarding transactions with the inspected entity.
5. To transfer the inspection materials to the investigating authorities with a report on this to the official who appointed the inspectorate, to take the necessary measures to compensate for the damage caused, in accordance with the current legislation.
Audit: sample act
After completing the check, members of the commission draw up a final document. It has legal value. The act is signed by all persons who carried out the inspection, ch.an accountant and the head of the inspected enterprise. The document should indicate the objectives and results of the audit, the detected facts of violation of the law, the reasons for them, as well as the perpetrators.
If there are comments or objections from ch. accountant or head of the company, they are made in writing and attached to the act. On the basis of the final document, the necessary measures are taken to eliminate violations, to compensate for the damage. The perpetrators, in turn, are held accountable under the rule of law.
If necessary, an interim act may be drawn up during the audit. The materials of the inspection are sent to the investigating authorities, where the question of initiating the case is being considered. The acts of audits carried out within the framework of departmental control are transferred to the Ministry of Finance, authorized regional and territorial structures upon request.