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Auditing principles: Theoretical considerations and practical value

Vol. 22, Iss. 10, OCTOBER 2019

Received: 27 September 2019

Received in revised form: 1 October 2019

Accepted: 7 October 2019

Available online: 15 October 2019

Subject Heading: AUDIT ACTIVITY

JEL Classification: М41, М42

Pages: 1170–1180

Mamushkina N.V. Nizhny Novgorod Engineering-Economic State University (NGIEU), Knyaginino, Nizhny Novgorod Oblast, Russian Federation

Subject The article reviews a set of organizational and methodological principles governing the auditing activity.
Objectives The research determines the composition and contents of auditing principles.
Methods The methodological framework comprises proceedings of the Russian and foreign experts in accounting, economics and auditing. The research relies upon methods of abstraction, systematization and generalization of theoretical aspects.
Results I formulated and substantiated auditing principles, which help evaluate practical results. These are practicality, regulation, utility, orderliness and responsibility.
Conclusions and Relevance To develop the auditing activity, its methodological framework should be improved, with general and special principles being set forth, which were borrowed from other scientific areas. There also should be more precise internal and private auditing principles as a type of professional practice, which constitute an important tendency of current research into auditing. The findings can be used to develop theoretical and practical principles of auditing as a science and type of activity.

Keywords: audit, auditing, methodology, principle


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