Subject This article discusses the grounds and types of professional responsibility in auditing for the quality of audit services, as well as the content of each particular type of professional responsibility of auditors to State regulatory bodies, professional auditing community, audit services customers and other persons interested in auditor activities. Objectives The article aims to institutionally substantiate the liability of auditors from perspectives of public and economic institutions' performance. Methods For the study, I used formal and logic methods and techniques of cognition, such as analysis and synthesis, induction and deduction, comparison, and analogy. Results Based on an analysis of the statutory and regulatory provisions on professional responsibility in auditing, the article identifies the grounds and types of professional responsibility in audit activity. Conclusions and Relevance The liability mechanism for auditing is an integral part of effective auditing practices, implying that auditors are responsible for the quality of their audit services. The results of the study can be applied in the corporate sphere of auditing public associations and firms.
Keywords: professional responsibility of auditor, contractual responsibility, tort liability, responsibility bases, type of responsibility
References:
Sokolov Ya.V., Terekhov A.A. Ocherki razvitiya audita [Essays on the evolution of audit]. Moscow, FBK-Press Publ., 2004, pp. 315–318.
Mautz R.K., Sharaf H.A. The Philosophy of Auditing. Sarasota, FL, American Accounting Association, 1961, 299 p.
Pankov V.V., Akaemova N.V., Kozhukhov V.L. [Institutional regulation mechanisms of auditing and supporting of audit quality]. Audit i finansovyi analiz = Audit and Financial Analysis, 2011, no. 1, pp. 187–194. (In Russ.)
Krasnov V.D., Kemaeva S.A., Zhil'tsova Yu.V., Kozmenkova S.V. [The formation of the institutional environment of audit: Description and application]. Bukhgalterskii uchet v byudzhetnykh i nekommercheskikh organizatsiyakh = Accounting in Budgetary and Non-Profit Organizations, 2017, no. 13. URL: Link (In Russ.)
Yumatov V.A., Kozmenkova S.V., Frolova E.B. [Auditor's report as an object of forensic accounting examination]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2018, vol. 21, iss. 7, pp. 779–788. (In Russ.) URL: Link
Massarygina V.F. [On the new stage of development of auditing in Russia]. Auditorskie vedomosti = Audit Journal, 2017, no. 5-6. (In Russ.)
Rozhentsova I.A. [About some aspects of legal regulation concerning the contract for rendering auditing services]. Auditorskie vedomosti = Audit Journal, 2017, no. 4. (In Russ.)
Vostrikov G.G. [Liability for breaches in law governing the audit activity]. Pravo i ekonomika = Law and Economics, 2015, no. 9. (In Russ.)
Litvintseva A.A., Yudina G.A. [Theoretical and practical aspects of audit responsibility]. Vestnik Krasnoyarskogo gosudarstvennogo agrarnogo universiteta = Bulletin of KrasSAU, 2014, no. 4, pp. 13–22. URL: Link (In Russ.)
Fukuyama F.Y. Doverie: sotsial'nye dobrodeteli i put' k protsvetaniyu [Trust: The Social Virtues and the Creation of Prosperity]. Moscow, AST Publ., 2008, 730 p.
Khachaturov R.L., Lipinskii D.A. Obshchaya teoriya yuridicheskoi otvetstvennosti: monografiya [The general theory of legal liability: a monograph]. St. Petersburg, Yuridicheskii tsentr-Press Publ., 2007, 934 p.
Bratus' S.I. Yuridicheskaya otvetstvennost' i soznanie dolga. V kn.: Voprosy teorii gosudarstva i prava. Aktual'nye problemy teorii sotsialisticheskogo gosudarstva i prava: Mezhvuzovskii nauchnyi sbornik [Legal responsibility and a sense of duty. In: Issues of State theory and law. Current problems of the theory of the socialist State and law: Intercollegiate Scientific Collection]. Saratov, Saratov University Publ., 1983, p. 45.
Nikitina L.M. [Institute of corporate social responsibility and their distribution in Russian practice]. Sovremennaya ekonomika: problemy i resheniya = Modern Economics: Problems and Solutions, 2010, no. 1, pp. 62–68. (In Russ.)
Romanovskaya O.V. [Public corporation: The concept, significance, issues and opportunities for determining the legal status]. Reformy i pravo = Reforms and Law, 2011, no. 2, pp. 3–23. (In Russ.)
Mel'nichenko R.G. [On the formation of the professional liability construct]. Gosudarstvennaya vlast' i mestnoe samoupravlenie = State Power and Local Authorities, 2009, no. 11, pp. 17–21. (In Russ.)
Grishchenko N.B. [Categorial essence of the professional liability]. Izvestiya Altaiskogo gosudarstvennogo universiteta = Izvestia of Altai State University Journal, 2003, no. 2, pp. 11–13. URL: Link (In Russ.)
Limperg T., Baranov P.P., Shaposhnikov A.A., Amanzholova B.A. et al. Teoriya vdokhnovlennogo doveriya ili sotsial'naya otvetstvennost' auditora [A theory of inspired trust or social responsibility of an auditor]. Moscow, Auditor Publ., 2017, 191 p.
Itygilova E.Yu. [Professional responsibility in the institutional framework of auditing]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2019, vol. 22, iss. 10, pp. 1139–1153. (In Russ.) URL: Link
