At the turn of the market economy development in the Russian Federation, large holdings, concerns and financial industrial groups appear. They combine production, financial and human resources and seek to maximize profit, to use material resources more efficiently, as well as to minimize costs. Consolidated companies generate various types of reports. The users of the reports are public authorities, credit institutions, potential investors, etc. In this regard, it is apparent that the amount of information for management purposes has increased significantly, and the information has become more diverse. The existing reporting system often does not have inter-linkages it terms of logic and consistency. It requires serious efforts to find the right data from both investors and company management, which increases transaction costs. To eliminate this problem it is necessary to develop a tool that would be easy to control and regulate. This tool is integrated reporting, which implies conducting integrated audit. The aim of the work is to determine the need to generate integrated reporting in consolidated profit-making organizations, as well as its effective use based on international experience. The author focuses on perfecting the audit of settlements of consolidated commercial organizations on taxes and charges. Using the methods of comparative and systematic analysis, the author describes the specifics of the audit of integrated financial statements and makes proposals for its further development. The study has identified that integrated financial statements have significant advantages as compared to traditional ones. However, in practice, the mechanism of financial statements generation is at its early stage of development. Given that at present the boundaries of national economies begin to blur, and the world enters the global competitive environment, this factor determines the need to develop the audit of integrated financial statements. The most important element of integrated financial statements is reports on taxes and charges. The audit of taxes and charges enables not only to increase cash inflows to budget and to reduce the risk of tax penalties, but also to exercise control over divisions of integrated companies, which generate source information on business operations.
Bogataya I.N., Evstaf'eva E.M. Issledovanie sovremennykh tendentsii razvitiya bukhgalterskogo ucheta i otchetnosti v Rossiiskoi Federatsii [The study of modern trends in accounting and reporting development in the Russian Federation]. Mezhdunarodnyi bukhgalterskii uchet = International accounting, 2013, no. 25, pp. 2–17.
Bulyga R.P., Mel'nik M.V. Audit biznesa. Praktika i problemy razvitiya: monografiya [Audit of business. Practice and problems of development: a monograph]. Moscow, YUNITY-DANA Publ., 2013.
Get'man V.G. Rezervy sovershenstvovaniya bukhgalterskogo ucheta i otchetnosti kommercheskikh organizatsii v Rossii [Reserves for improving accounting and reporting of commercial organizations in Russia]. Mezhdunarodnyi bukhgalterskii uchet = International accounting, 2012, no. 41, pp. 22–34.
Gribanovskii A.M. Konsolidirovannaya finansovaya otchetnost': s chego vse nachinalos' [Consolidated financial statements: how it all began]. Byudzhetirovanie i upravlencheskii uchet = Budgeting and management accounting, 2012, no. 5, pp. 16–22.
Grinkevich L.S., Bannova K.A. Modernizatsiya sistemy nalogooblozheniya konsolidirovannykh grupp nalogoplatel'shchikov [Modernization of the tax system of consolidated groups of taxpayers]. Finansy i kredit = Finances and credit, 2014, no. 17, pp. 40–47.
Dadayasheva K.K., Tolchinskaya M.N. Kontseptual'nye podkhody i metody provedeniya nalogovogo audita [Conceptual approaches and methods of tax audit]. Finansy i kredit = Finance and credit, 2012, no. 40, pp. 24–28.
Kasimov D.O., Kirillova O.S., Ryabikin V.A. Regulirovanie nalogovykh platezhei mezhdu uchastnikami konsolidirovannoi gruppy [Regulation of tax payments between the participants of a consolidated group]. Finansy = Finance, 2013, no. 3, pp. 38–44.
Kogdenko V.G., Mel'nik M.V. Integrirovannaya otchetnost': voprosy formirovaniya i analiza [Integrated reporting: issues of generation and analysis]. Mezhdunarodnyi bukhgalterskii uchet = International accounting, 2014, no. 10, pp. 3–15.
Kondrashova N.N. Vnedrenie mekhanizma konsolidirovannogo nalogooblozheniya [Introduction of a consolidated taxation mechanism]. Nalogovyi vestnik = Tax bulletin, 2013, no. 1, pp. 75–81.
Moderov S.B. MSFO – opyt raboty rossiiskikh kompanii [IFRS: the experience of Russian companies]. Mezhdunarodnyi bukhgalterskii uchet = International accounting, 2007, no. 7, pp. 15–22.
Novoselov K.V. Konsolidirovannaya gruppa nalogoplatel'shchikov: ischislenie i uplata naloga na pribyl' s 2012 goda [Consolidated group of taxpayers: calculation and payment of income tax since 2012]. Nalogovaya politika i praktika = Tax policy and practice, 2013, no. 2, pp. 31–35.
Plotnikov V.S., Plotnikova O.V. Biznes-uchet i integrirovannaya otchetnost' [Business accounting and integrated reporting]. Mezhdunarodnyi bukhgalterskii uchet = International accounting, 2014, no. 13, pp. 25–34.
Plotnikov V.S., Plotnikova O.V. Uchet finansovykh instrumentov kak faktor obespecheniya dostovernosti informatsii o funktsionirovanii kompanii na rynke: monografiya [Accounting for financial instruments as a factor of ensuring reliability of information about company functioning in the market: a monograph]. Moscow, Finansy i kredit Publ., 2013, p. 14.
Plotnikov V.S., Yusupova Yu.V. Evolyutsiya kontseptsii konsolidirovannoi finansovoi otchetnosti [The evolution of the consolidated financial statements concept]. Mezhdunarodnyi bukhgalterskii uchet = International accounting, 2013, no. 13, pp. 2–7.
Rozhnova O.V. Aktual'nye problemy finansovoi otchetnosti [Urgent problems of financial statements]. Mezhdunarodnyi bukhgalterskii uchet = International accounting, 2013, no. 15, pp. 2–8.
Sigidov Yu.I., Nastenko D.A. Aktual'nye problemy formirovaniya konsolidirovannoi finansovoi otchetnosti [Urgent problems of consolidated financial statements generation]. Mezhdunarodnyi bukhgalterskii uchet = International accounting, 2013, no. 9, pp. 2–13.
Smirnov D.M. Aktual'nye problemy nalogooblozheniya konsolidirovannykh grupp za rubezhom i v Rossii [Urgent problems of taxation of consolidated groups abroad and in Russia]. Mezhdunarodnyi bukhgalterskii uchet = International accounting, 2010, no. 5, pp. 15–19.
Hendriksen E.S., Van Breda M.F. Teoriya bukhgalterskogo ucheta [Accounting Theory]. Moscow, Finansy i statistika Publ., 2000, p. 183.
Eccles R.G., Herz R.H., Keegan E.M., David M.H. Phillips. Revolyutsiya v korporativnoi otchetnosti: kak razgovarivat' s rynkom kapitala na yazyke stoimosti, a ne pribyli [The Value Reporting Revolution. Moving Beyond the Earnings Game]. Moscow, Olimp biznes Publ., 2002, 400 p.
