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Author: Adam

Audit means an independent examination and analysis of financial statements of enterprises, banks, organizations, institutions and other actors of market relations.

The purpose of the audit to establish the reality of the completeness and reliability of the given statements, its compliance with current legislation, as well as the requirements for accounting and financial reporting.

Those who inspect the financial and economic activities of companies, firms, institutions and other commercial structures, known as auditors. The auditor can work independently or as a representative of the auditing firm.

Audits of banks often carry out special audit firm. During the audit, but its main task - the auditor's report, the auditors will also carry out consulting activities (on business, accounting, internal controls, taxation and other issues), which gives them a significant part of income. There are many cases where a bank or credit organization, collaborates with several auditors or audit firms. The company, which is the most famous and authoritative "assured" all official records of the bank and the auditor's report. Other companies have provided advice and invited to address the specific specialized tasks (most often - is the optimization of taxation, cost analysis and profitability of the bank, checking individual internal parts of the bank).

In Russia the process of forming a network of audit firms began in 1987 In 1992 the Congress of the auditors (which was held in conjunction with the Congress, the business community) was attended by 180 Russian audit firms. Of course, the market for audit services is only in its infancy. However, there were circumstances that greatly hindered its development: auditing was not enshrined in law, audit examination were mandatory only for joint ventures and commercial banks. Because of this demand for audit services was negligible.

In 1993 he was made the first step towards establishing a legal framework and organization of audit activity, Presidential Decree "On audit activity in Russia (from 22 December 1993 № 2263) approved the provisional rules of auditing in Russia, which define the legal basis as an independent audit extradepartmental financial controls. At present, undergo an annual audit of the required majority of economic actors (in particular, to obtain the auditor's report, in the prescribed form and publish annual reports, certified public accounting firm required all commercial banks).

Due to the nature of banks and other lending institutions the Order of the Central Bank of Russia on March 18, 1996 N 02-71 were approved by the "Temporary Regulations on auditing in the banking system of Russia", which explains the features of, and sets standards for bank audit .

The audit may be mandatory, and initiative. This mandatory inspection is performed in the cases directly prescribed by legislative acts of Russia, and the initiative - to address the economic entity.

The most important condition for the development of civilized market of auditing services is the appropriate level of training of the auditor. The auditor must have an impeccable reputation and high qualifications. In accordance with the above-mentioned decree, all individuals involved in auditing activities are required to pass certification for the right to implement such activities.

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