Itygilova E.Yu.East Siberia State University of Technology and Management, Ulan-Ude, Republic of Buryatia, Russian Federation e_itygilova@inbox.ru
Importance The article investigates institutional aspects of substantial concepts of auditing financial statements. Many issues of audit quality necessitate theoretical provisions to be formulated. This issue may be addressed by scrutinizing how the substance of audit is described through the new institutional economic theory and its instruments. Objectives The research pursues articulating theoretical provisions on the institutional procedure of auditing, logic of this process so to substantiate the institutional substance of audits of financial statements. Methods The research employs formal and logic methods and research techniques: analysis, synthesis, induction, deduction, comparison and analogy. Results I proposed a structural and logic program for studying scientific aspects of the institutional and methodological approach to understanding the quality of accounting and audit. The article also presents theoretical provisions that explain the institutional substance of audit, institutional process and its constituents through provisions of the new institutional economic theory of an institution as a basic unit of analysis. I also provide an institutional relationship model, which helps identify types of inconsistent behavior of those involved in the institution of audit. Those types may be applied to detect malfunctioning issues. Conclusions and Relevance If the audit institution – audit quality – accounting data quality theoretical construction is made and a program for its scientific examination is prepared so to be harmoniously integrated into the existing theory of audit and accounting, it will allow interpreting the relationship between accounting systems and audit, quality of auditing and accounting data; determining institutional conditions for ensuring the quality.
Keywords: Russian Far East, transport complex, region, transport affordability, population
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