Home  Journals  Finance and Credit  35(611) - 2014 September

Audit of financial statements: a system approach

Available online: 19 September 2014

Subject Heading: FINANCIAL STATEMENTS

JEL Classification: 

Pages: 46-50

The article states that the globalization processes, which are taking place in the world economy, stipulate the need to unify, harmonize and standardize the financial statements of companies, specifically those that are trading on international stock exchanges. In such conditions the companies (groups of companies) ensure the comparability of their financial statements through the application of uniform international standards in the process of the statements preparation. The International Accounting Standards Board (IASB) has been developing the standards since 2001. The authors discuss the technique of a company's performance audit under conditions of reforming the Russian accounting and reporting system.

Keywords: financial statements, performance audit, system, internal control, RAS, IFRS

References:

1. Baranov P.P. Transformatsiya predstavlenii o fenomene professional'nogo suzhdeniya auditora v issledovaniyakh zarubezhnykh uchenykh [Transforming the ideas of an auditor’s professional judgment phenomenon the in works of foreign scientists]. Auditor, 2011, no. 10, pp. 22–32, no. 11, pp. 14–20, no.12, pp. 29–34.
2. Guttsait E.M. Audit i drugie nauki [Audit and other sciences]. Auditor, 2010, no. 10, pp. 15–26.
3. Tolchinskaya M.N. Audit finansovoi otchetnosti v usloviyakh sovremennoi informatsionnoi sredy [Audit of financial statements under conditions of the current information environment]. Ekonomika i predprinimatel'stvo – Economy and entrepreneurship, 2013, no. 11, pp. 521–525.

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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