Economics / 7. Accounting and Auditing
Ekaterina Erokhina
Postgraduate
studies, First year of study, Peoples’ Friendship University of Russia
Moscow, Russian Federation
International Standards on Auditing and
Developing approaches the performance assessment requirements of auditing
standards regulating organization of auditors in Russia
International auditing
standards are specific recommendations for all aspects of auditing sphere. Such
recommendations prepare The International Federation of Accountants (IFAC). The
main idea of these standards – to develop a final recommendation is to
standardize processes and audit criteria for audit services rendered.
Currently, IFAC included
157 members and associates in 123 countries, representing more than 2.5 million
accountants and auditors. Organization - IFAC members participate in the
program compliance, thereby demonstrating its interest in strengthening the
high standards of accountants worldwide.
Compliance program consists
of 3 parts:
Ø
Part 1 - recognition of regulatory IFAC
values in the standardization activities of professional
accountants and auditors.
Ø
Part 2 - A self-assessment
procedures IFAC member’s own efforts to promote international standards and
control their execution.
Ø
Part 3 - declare action plan to
implement in their practice of existing international standards with an
indication of the selected tools and provide resources and procedures. Also,
the Plan of auditor’s procedures should reflect the regulatory changes in the
internal standards of IFAC member bodies, related to the promotion of
international standards and the achievement of the required level of compliance
with them.
The Russian Federation is
represented by two IFAC professional audit associations: Russian Collegium of
Auditors (RCA) and the Institute of Professional Accountants of Russia (IPAR).
International auditing
practices are based on International Standards of Accounting and Reporting ,
International Standards on Auditing and audit-related services , the provisions
of the International Auditing Practices , as well as international norms of
accounting education and ethics.
In the international
approach to ensure quality of audit services put 3 standards. (See Fig. 1.1.1).
Consider their appointment more.
Figure 1 - List of international standards and quality
control provisions audit
Source: Compiled by author
Fundamental document - «The obligation of
organizations - members of IFAC 1 «Quality Assurance ", is adopted by the
IFAC Council. Its purpose is to establish the responsibilities for the
professional associations related to the development and execution of test
programs to ensure the quality of work in an auditing firm to audit the
accounts of customers. These standard requirements are indicated on scoping
audit, and the approach to the formation of the verification period and
appropriate audit procedures. Standard represents the ethical principles and
requirements for professional competence. Next Article - International Standard
on Quality Control 1 «Quality Control for firms conducting an audit and review
the audit to provide assurance and audit-related services." Goal - the
establishment of policies and procedures with respect to those companies in the
organization of the system of quality control. The content presents the main
comments on the development of policies and procedures established for the
quality control tools. The purpose of the third standard - International
Standard on Auditing 220R « Quality Control audit and reporting financial
information " is to establish requirements and issuing professional advice
on the implementation of quality control procedures for audit. The content of
this standard refers to the implementation of the principles of quality control
for each audit assignment and on the requirements of the clients of the audit firm.
The listed document contains mandatory section, which reflects the key terms
used in the framework of a standard or regulation. Russian developed approaches
to performance assessment requirements of auditing standards the
self-regulating organizations of auditors are the basis of these documents as
well as the formation of new parameters estimates and methodology. Relying on
international methods for quality control of audit services, the Russian
auditing standards allow to achieve objectivity in terms of the audit opinion
on the reliability of the accounting (financial) statements.
Bibliography
1.
Internet resource resource. Russian
Collegium of Auditors , the access mode - http://www.rkanp.ru
2.
Internet resource . Institute of
Professional Accountants of Russia , the access mode - http://www.ipbr.org/
3.
Internet resource resource.
International Standards on Auditing , the access mode -http :/ / www.nnre.ru
4.
Erokhina E.I. thesis "
Development of approaches performance assessment requirements of auditing
standards SROA members ", Moscow, 2013.