Subject. This article deals with the methodological justification of financial reporting criteria based on the present-day concept of financial information utility in the context of the established accounting doctrines. Objectives. The article aims to substantiate a system of criteria for auditing financial statements on the basis of the historically established British and American accounting doctrines. Methods. For the study, I used the methods of analysis and synthesis, induction and deduction, comparison, and analogy. Results. Based on an analysis of the provisions of international auditing and accounting standards, background material, scientific papers in the field of auditing, the article defines criteria for auditing financial reporting in the context of accounting doctrines. Conclusions and Relevance. The truth in the audit to be proved is of a regulatory and descriptive character. It is expressed in the form of specific criteria for the validity and fairness of reporting. The results of the study can be used in financial statements audit research.
Keywords: fairness, reliability, audit criteria, utility, regulatory and descriptive truth
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