Aldarova T.M.East Siberian State University of Technology and Management, Ulan-Ude, Republic of Buryatia, Russian Federation aldarova_t@inbox.ru
Nikiforova V.V.East Siberian State University of Technology and Management, Ulan-Ude, Republic of Buryatia, Russian Federation office@esstu.ru
Importance To express professional judgment, it is required to have relevant qualification and develop a set of methods enabling to evaluate certain material facts of economic life of the firm and ensure the reliability of financial statements in all material respects. Objectives The purpose of the study is to reveal the relationship between the categories of materiality, reliability and accountant's professional judgment, namely, to show how materiality and reliability influence the process of accountant's professional judgment formation. Methods The methodology of the study includes analysis, comparison, systematization and synthesis of relevant scientific literature. Results The paper provides various interpretations of the term accountant's professional judgment. We offer our own understanding of this category, which helps develop a scheme showing the influence of the categories of reliability and materiality on accountant's professional judgment. We believe it will contribute to the disclosure of the latter in Russian Accounting Standards. Conclusions The study of various interpretations of the term accountant's professional judgment reveals the absence of a direct definition of this concept in Russian statutory documents. It determined that only a probabilistic-qualitative assessment of materiality will ensure the substantive reliability of financial statements, and not only the formal one.
Keywords: professional judgment, accountant, materiality, reliability
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