Consideration of laws and regulations in an audit of financial statements

2020 ◽  
pp. 61-66
Keyword(s):  
Financial Statements ◽  
Laws And Regulations

scholarly journals Issues related to the regulation of the content of the audit reports

2021 ◽  
pp. 77-89
Author(s):  
Irina V. Panina
Keyword(s):  
Public Interest ◽  
Financial Statements ◽  
Information Value ◽  
Public Utility ◽  
International Standards ◽  
Federal State ◽  
State Control ◽  
Federal Law ◽  
Audit Reports ◽  
Laws And Regulations

Introduction. Currently, the procedure for providing audit services to public interest entities is being reformed. The main goal of these reforms is to provide more effective protection of legally protected values associated with the activities of such economic entities. The changes also apply to the content of audit reports on their financial statements. The process of revising the relevant regulatory document is still ongoing. Not all of the revised provisions are consistent with each other and the International Standards on Auditing. This will complicate their practical application by auditors and affect the informational value and public utility of audit reports. In addition, since 2017, when the modern format for audit reports was adopted, its application has revealed shortcomings in terms of its content and terminology. This explains the need to develop proposals to eliminate these “sticking points” when regulating the content of the auditor's report. Purpose. The development of recommendations to harmonise the provisions of laws and regulations governing the content of audit reports and federal state control (supervision) of the activities of audit organisations providing services to public interest entities with the International Auditing Standards in order to increase the information value of audit reports. Methods. The research results were obtained using analysis, synthesis, analogy, historical and logical approaches, classification, etc. Results. It was proposed to introduce changes to the text of the Federal Law “On Auditing Activities” of 30.12.2008 No. 307-FZ in order to eliminate contradictions in its provisions regarding the content of audit reports, to ensure their consistency with the International Standards on Auditing and laws and regulations in the field of controlling the activities of audit organisations that provide audit services to public interest entities. The content of the requirements of the International Standards on Auditing regarding the content of audit reports was clarified as well as their official translation into Russian to make the documents more informative and easy to use. Conclusions. The proposed clarifications can be taken into account when making changes to the texts of the Federal Law “On Auditing Activities”, the original version of the International Standards on Auditing and its official translation. They can also be further discussed by specialists.

Method activation end date in the past. direction:re

Auditor ◽  
2015 ◽  
Vol 1 (8) ◽  
pp. 33-42
Author(s):  
Миславская ◽  
N. Mislavskaya
Keyword(s):  
Financial Statements ◽  
The Past ◽  
Laws And Regulations

The Article details the principles and rules of the mergerbased on the requirements of laws and regulations. The example of financial statements’ attainment for reorganized entities and newly merged organization helps to imaginework stages of accounting.

scholarly journals Business Combination Process And Its Audit Review Of Financial Statements

2021 ◽  
Vol 03 (07) ◽  
pp. 1-4
Author(s):  
Komil Bahramovich Urazov ◽  
◽  
Jamshidbek Ahmad Ugli Abdurasulov ◽  
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
National Standards ◽  
Living Standards ◽  
Combination Process ◽  
Joint Activities ◽  
Audit Review ◽  
Business Combination ◽  
The Republic ◽  
Laws And Regulations

Enterprises are known to be important subjects of accounting, which is the main link in the economy of any individual society, respectively, as a means of management. Through enterprises, tangible and intangible goods are created, various works are performed, services are provided and they are delivered to consumers. Increasing the number of enterprises, merging them, enlarging them, developing joint activities is one of the important factors in increasing the country's GDP, employment and income, improving living standards and welfare. This article reveals the basic rules of accounting and financial reporting in the context of reorganization of enterprises on the basis of existing laws and regulations, including national standards. The essence, features and procedures of reorganization of the main branches of the economy of the republic, respectively, the main subjects of accounting are revealed. The article also outlines the general requirements for accounting and financial reporting in the context of reorganization of enterprises.

scholarly journals DEWAN PENGAWAS SYARIAH DAN PROFESIONALISME SUMBER DAYA MANUSIA

2018 ◽  
Vol 16 (2) ◽  
pp. 147-170
Author(s):  
H. Rahman Ambo Masse
Keyword(s):  
Human Resources ◽  
Board Of Directors ◽  
Financial Institutions ◽  
Supervisory Board ◽  
Financial Statements ◽  
Important Indicator ◽  
The Board Of Directors ◽  
Banking Institutions ◽  
Determinant Factor ◽  
Laws And Regulations

Sharia Supervisory Board (DPS) is one of the most important part in the system of Islamic financial and banking institutions in Indonesia. The existence of DPS is recognized based on applicable laws and regulations. The existence of DPS in sharia financial institutions and sharia banking aims to oversee sharia principles that must be implemented in real terms in the contract system and transactions in Islamic financial and banking institutions. Empirically, the recognition of legislation on the existence of DPS has not been fully implemented by Islamic financial and banking institutions. In fact, recommendations regarding the findings of sharia principles violations in the contract system and transactions in sharia financial and banking institutions often receive a response from the board of directors. Therefore, the most important indicator that DPS must have is the professionalism of its human resources. Competence is a determinant factor in recruiting DPS. These competencies include aspects of mastery of fiqh muamalah theories, competency in reading financial statements, and competencies in the field of engagement law.

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