Importance In the light of the new international economic union as one of the stages to strengthen the economic sovereignty of the post-Soviet countries within the framework of the national information security, I propose to reconsider the place of audit as an economic institution. Objectives The main purpose of my article is to provide information for a wide range of readers about the possible real incentives of such a relatively new and democratic form of financial control as auditing, which seems to have intuitively failed to meet an interested response of the Russian business. Methods In my work, I used the techniques of phenomenological analysis: contemplation (obviousness) and phenomenological reduction.I have evaluated the correlation of audit opinions expressed as the expert ones in audit conclusions issued at the end of the reporting year, specifically pertaining to an assumption of continuity of commercial banks activity and revoked bank licenses, as well as further liquidation of banks within the period of 2012 and 2013. Results I substantiate and confirm the distrust of users of financial statements to the results of audit examinations. Within the framework of the national audit traditions, it is necessary to carry out revisions of the areas of influence of audit on a purely entrepreneurial private entities, which lay claim for the public dimension, and which do not involve the key institutions of sovereign democracy, which form the foundations of the national security of the State, and the economy as a whole, and individual industries and its entities. I propose to recognize the audit as a strictly voluntary democratic instrument promoting formation of the investment attractiveness of purely private entrepreneurial structures that claim for the public dimension. I propose to revise audit legislation with respect to the approved list of business entities that are subject to the mandatory audit, and its validity. Conclusions and Relevance In the modern economic and political realities, it is necessary to clearly define the actual status of audit as an independent institution of financial control. It is necessary to enhance the level of political culture, patriotic feelings of the population, including specialists, economists, employees of banks and other credit organizations, especially the younger generation.
Keywords: accounting, audit, financial statements, users, national security, investment, marketing, auditing legislation, independent, Central Bank of Russia
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