Audit Council, working body of the Audit Council: purpose of creation, composition, main functions. The Audit Council and its functions The composition of the Audit Council includes
The Audit Council was established in accordance with Federal Law No. 307 “On Auditing” in order to ensure public interests in the course of auditing. The Regulation on the Council was approved by the order of the Ministry of Finance of the Russian Federation dated December 29, 2009 No. 146n.
Audit Council: considers:
- issues of state policy in the field of auditing,
- drafts of normative legal acts regulating audit activities and recommends them for approval by the authorized federal body;
approves:
Rules for the Independence of Auditors and Audit Organizations and the Code professional ethics auditors;
defines areas of knowledge, from which the list of questions offered to the applicant at the qualifying exam is established;
contributes for consideration by the Ministry of Finance of the Russian Federation proposals on the procedure for the implementation by the Federal Treasury of external quality control of the work of audit organizations;
considers appeals and petitions of SROs in the field of auditing and submits relevant proposals for consideration by the Ministry of Finance of the Russian Federation, etc.
The composition of the Audit Council is approved by the head of the Ministry of Finance of the Russian Federation.
The Audit Council is composed of:
- 1) ten representatives of users of accounting (financial) statements. Representatives of users of accounting (financial) statements are subject to rotation once every three years by at least 25% of their total number;
- 2) two representatives of the authorized federal body;
- 3) one representative from the federal executive body responsible for the development of state policy and legal regulation in the field of development entrepreneurial activity, and from the Bank of Russia;
- 4) two representatives from self-regulatory organizations of auditors, whose candidatures are jointly nominated by all self-regulatory organizations of auditors.
Representatives of self-regulatory organizations of auditors are subject to rotation once a year. Candidates for representatives of users of accounting (financial) statements are presented by all-Russian public organizations“Russian Union of Industrialists and Entrepreneurs”, “Business Russia” and “Opora Rossii”, Association of Russian Banks. Among the users of accounting (financial) statements and audit services, 30% are representatives of investment institutions and reporters, and 20% are representatives of financial institutions and rating agencies. About 40% of the members of the Council have in the past professional experience associated with audit activities.
Federal bodies in the Council are represented by employees of the Ministry of Finance of the Russian Federation as a federal executive body for the development of state policy and legal regulation in the field of auditing and the Ministry of Economic Development of Russia as a federal executive body for the development of state policy and legal regulation in the field of business development.
From the audit profession, members of the Council are representatives of two self-regulatory organizations of auditors, whose candidatures are jointly nominated by all self-regulatory organizations of auditors. The rotation of representatives of the audit profession in the Council was carried out in a planned manner in accordance with Federal Law No. 307 “On Auditing”. The work of the Board is aimed at maintaining a high professional level of audit activities in the public interest.
In order to prepare decisions of the Council in accordance with Federal Law No. 307 “On Auditing Activities”, a working body of the Council was created. The regulation on the working body of the Council was approved by order of the Ministry of Finance of the Russian Federation of December 29, 2009 No. 146n. In order to ensure that the Council performs the functions assigned to it by the legislation of the Russian Federation, it is formed as a body independent of the audit profession and government bodies. More than 60% of the Board members are users of accounting (financial) statements and audit services.
3.3. The Audit Council, the working body of the Audit Council, creation, composition, main functions
The Chairman of the Council cannot be a member of the audit profession or a representative government agencies.
The working body prepares decisions of the Audit Council. Meetings of the Council for Auditing Activities are convened by the Chairman of the Council as necessary, but at least once every three months. The meeting of the Council for Auditing is considered competent if at least two thirds of the members of the Council are present.
The working body of the Audit Council includes the heads of permanent collegiate management bodies and other representatives of all self-regulatory organizations of auditors, the head of ANO EAK, created in accordance with Federal Law No. 307, representatives of the authorized federal body, as well as representatives of the scientific and pedagogical community.
The number of representatives of self-regulatory organizations of auditors in the working body of the Audit Council should be at least 70% of the total number of members of the working body of the council.
The composition of the working body of the Council for Auditing (with the exception of the heads of permanent collegiate management bodies of self-regulatory organizations of auditors, representatives of the authorized federal body, the head of ANO EAC) is subject to rotation once every three years by at least 30% of the total number of members of the working body of the Council.
The working body holds monthly meetings, the preparation of which is carried out in the STANDING COMMISSIONS:
- on the regulation of audit activities;
- monitoring the market for audit services;
- quality control of work;
- certification and advanced training;
- self-regulation issues.
Issues related to:
- 1) regulation of audit activities;
- 2) independence and professional ethics;
- 3) monitoring the audit services market;
- 4) self-regulation in audit activities;
- 5) quality control of work;
- 6) audit organizations, auditors;
- 7) certification and advanced training of auditors.
Information about the activities of the Audit Council and its working body is open and publicly available and is regularly published on the website of the Ministry of Finance of the Russian Federation in the form of annual reports on the Internet. To do this, in the section of the site "Audit activity" subsection "Council for audit activity" is opened 1 . Information messages are regularly posted on the site
0 forthcoming and past meetings of the Council and the working body in the form of minutes of the meetings. In addition, openness and public accessibility of information about the activities of the Council and its working body is ensured by inviting interested persons to meetings, as well as providing information about the activities of the Council and its working body to the media.
1. In order to ensure public interests in the course of carrying out audit activities, an audit council is created under the authorized federal body.
2. The Audit Council shall perform the following functions:
1) considers issues of state policy in the field of auditing;
2) considers draft regulatory legal acts regulating audit activities and recommends them for approval by the authorized federal body;
3) approves the rules for the independence of auditors and audit organizations and the code of professional ethics for auditors, determines the areas of knowledge from which the list of questions proposed to the applicant for the qualification exam is established;
(as amended by Federal Law No. 403-FZ of December 1, 2014)
4) has become invalid. - Federal Law No. 403-FZ dated December 1, 2014;
5) submits for consideration by the authorized federal body proposals on the procedure for the exercise by the authorized federal body for control and supervision of external quality control of the work of audit organizations;
6) consider appeals and petitions of self-regulatory organizations of auditors in the field of auditing and submit relevant proposals for consideration by the authorized federal body;
7) carries out in accordance with this federal law and the regulation on the audit council, other functions necessary to maintain a high professional level of auditing in the public interest.
3. In order to perform the functions provided for in paragraph 2 of this article, the audit council has the right to request copies of decisions of the governing bodies and specialized bodies of the self-regulatory organization of auditors and other necessary information and documentation from self-regulatory organizations of auditors.
4. The composition of the audit council is approved by the head of the authorized federal body.
5. The composition of the audit council includes:
1) 10 representatives of users of accounting (financial) statements. Representatives of users of accounting (financial) statements are subject to rotation once every three years by at least 25 percent of their total number;
2) two representatives of the authorized federal body;
3) one representative each from the federal "body" of executive power, which carries out the functions of developing state policy and legal regulation in the field of business development, and from the Central Bank Russian Federation;
4) two representatives from self-regulatory organizations of auditors, whose candidatures are jointly nominated by all self-regulatory organizations of auditors. Representatives of self-regulatory organizations of auditors are subject to rotation once a year.
6. Members of the audit council cannot be members of the working body of the council, with the exception of representatives of the authorized federal body.
7. The chairman of the audit council is elected at the first meeting of the council from representatives of users of accounting (financial) statements that are members of the council.
8. The secretary of the audit council is a representative of the authorized federal body from among the members of the council.
9. Meetings of the audit council are convened by the chairman of the council as needed, but at least once every three months. A meeting of the audit council shall be considered competent if at least two-thirds of the members of the council are present.
10. Decisions of the audit council are made by a simple majority vote of the council members participating in its meeting.
11. In order to prepare decisions of the audit council, its working body is created.
12. The composition of the working body of the audit council and its number are approved by the authorized federal body.
13. The working body of the audit council includes the heads of permanent collegiate management bodies and other representatives of all self-regulatory organizations of auditors, the head of a single certification commission created in accordance with this Federal Law, representatives of the authorized federal body, as well as representatives of the scientific and pedagogical community .
14. The number of representatives of self-regulatory organizations of auditors in the working body of the audit council should be at least 70 percent of the total number of members of the working body of the council.
15. The composition of the working body of the audit council (with the exception of the heads of permanent collegiate management bodies of self-regulatory organizations of auditors, representatives of the authorized federal body, the head of the unified certification commission created in accordance with this Federal Law) is subject to rotation once every three years by at least by 30 percent of the total number of members of the working body of the council, with the exception of the heads of permanent collegiate management bodies of self-regulatory organizations of auditors, representatives of the authorized federal body, the head of a single attestation commission created in accordance with this Federal Law.
16. Information about the activities of the audit council and its working body should be open and publicly available.
17. The regulation on the audit council and the regulation on the working body of the audit council are approved by the authorized federal body. The regulations of the audit council and the regulations of the working body of the audit council are approved by the audit council.
In order to take into account the opinion of professional participants in the audit market, an Audit Council is created under the authorized federal body. The regulation on the Council is approved by the head of the authorized federal body.
Audit Council:
Takes part in the preparation and preliminary review of the main documents of the audit activity and draft decisions of the authorized federal body;
Develops federal rules (standards) of audit activity, periodically reviews them and submits them for consideration by the authorized federal body;
Considers appeals and petitions of accredited professional audit associations and makes appropriate recommendations for consideration by the authorized federal body;
Carries out other functions in accordance with the regulations on this Council.
Members of the Audit Council are approved by the head of the authorized federal body on the proposal of accredited professional audit associations, federal executive bodies, scientific organizations and higher educational institutions. The Council includes representatives of the federal executive bodies that regulate professional activity organizations subject to mandatory audit.
The representation of accredited professional audit associations in the Audit Council must be at least 51% of the total composition of the Council. In addition, it should include representatives of state bodies, the Central Bank of the Russian Federation and users of audit services.
The Council preliminary considers all the most important issues of state policy in the field of auditing and drafts of regulatory legal acts. In 2007, the Council, in particular, continued to work on draft federal rules (standards) for auditing activities and approved a new version of the Code of Ethics for Russian Auditors. Much attention was paid to the issues of certification and advanced training of auditors and external quality control of the work of audit organizations and individual auditors. The results and prospects of the market for audit services and the activities of audit associations were considered.
The activity of the Council is open. Information about its meetings, decisions taken by it, as well as documents approved by the Council are published on the official website of the Ministry of Finance of Russia.
Recently, preparations have been made to reform the Council and gradually transform it into a body of public oversight of the audit profession.
A source: V. A. Erofeeva, V. A. Piskunov, T. A. Bityukova. Audit: textbook. allowance / V. A. Erofeeva, V. A. Piskunov, T. A. Bityukova. - 2nd ed., revised. and additional - M.: Yurayt Publishing House; Higher education, - 638 p. - (Fundamentals of Sciences). 2010(original)
More on the subject of the Audit Council under the authorized federal body:
- Authorized federal body for state regulation of audit activity
- 13.2 Non-interference in the activities of the court in the administration of justice as the main condition for the organizational support of its activities
express an opinion on the reliability of the accounting / financial statements of the audited entities and the compliance of the accounting procedure with the legislation of the Russian Federation
49. The requirements for membership of auditors in a self-regulatory organization of auditors are the following requirements:
Availability of qualifications certificate
Impeccable business reputation
Payment of contributions to the SAO
Payment of contributions to the SAO compensation fund
Registration as an individual entrepreneur
48. The Audit Council performs the following functions:
1) considers issues of state policy in the field of auditing;
2) considers draft federal auditing standards and other regulatory legal acts regulating auditing activities and recommends them for approval by the authorized federal body;
3) approves the procedure for developing draft federal auditing standards, the rules for the independence of auditors and audit organizations and the code of professional ethics for auditors, determines the areas of knowledge from which the list of questions proposed to the applicant for the qualification exam is established;
4) evaluates the activities of self-regulatory organizations of auditors for the implementation of external quality control of the work of audit organizations, auditors and, if necessary, gives recommendations for improving this activity;
5) submits for consideration by the authorized federal body proposals on the procedure for the exercise by the authorized federal body for control and supervision of external quality control of the work of audit organizations;
6) consider appeals and petitions of self-regulatory organizations of auditors in the field of auditing and submit relevant proposals for consideration by the authorized federal body;
7) performs, in accordance with this Federal Law and the regulation on the audit council, other functions necessary to maintain a high professional level of audit activities in the public interest.
47. The functions of state regulation of audit activities are:
1) development of state policy in the field of auditing;
2) legal regulation in the field of auditing, including the approval of federal auditing standards, rules for the independence of auditors and audit organizations, as well as the adoption, within its competence, of other regulatory legal acts regulating auditing activities and (or) provided for by this Federal Law ;
3) maintaining the state register of self-regulatory organizations of auditors, as well as a control copy of the register of auditors and audit organizations;
4) analysis of the state of the audit services market in the Russian Federation;
5) other functions provided for by this Federal Law.
46. When providing audit services, the audited entity, face, that has entered into an agreement for the provision of audit services, is obliged:
1) assist the audit organization, the individual auditor in the timely and complete conduct of the audit, create appropriate conditions for this, provide the necessary information and documentation, give, upon oral or written request of the audit organization, the individual auditor, comprehensive explanations and confirmations in oral and written form, as well as request information necessary for the audit from third parties;
2) not take any actions aimed at narrowing the range of issues to be clarified during the audit, as well as at hiding (restricting access) information and documentation requested by the audit organization, an individual auditor. The presence in the information and documentation requested by an audit organization, an individual auditor for conducting an audit of information containing commercial secrets, cannot be a basis for refusing to provide them;
3) timely pay for the services of an audit organization, an individual auditor in accordance with the contract for the provision of audit services, including in the case when the audit report is not consistent with the position of the audited entity, the person who has concluded the contract for the provision of audit services;
4) to fulfill the requirements of federal standards of audit activity and other obligations arising from the contract for the provision of audit services.
COLLECTION
ON ACCOUNTING (FINANCIAL) STATEMENTS PREPARED IN ACCORDANCE WITH INTERNATIONAL AUDIT STANDARDS
(version 1/2016)
This Collection contains exemplary forms of audit reports on the accounting (financial) statements of an organization, developed in accordance with the Federal Law "On Auditing" and international standards audit, put into effect for use on the territory of the Russian Federation by orders of the Ministry of Finance of Russia. These sample forms have been approved by the Audit Board.
Sample Forms audit reports are intended for use in the audit of accounting (financial) statements and the provision of other services for the audit of other financial information in accordance with the International Auditing Standards. Exemplary forms of audit reports should be used by audit organizations, individual auditors, taking into account the specific conditions of audit assignments, the characteristics of the audited entity and the state of the legislation of the Russian Federation.
(excluding Key Audit Matters) 4
2. Annual consolidated financial statements. 9
3. Annual financial statements. sixteen
4. Annual financial statements according to Russian rules
(with Key Audit Matters) 22
1. Annual financial statements according to Russian rules
(excluding Key Audit Matters)
[The audit report is issued by the audit firm under the following circumstances:
the entity being audited is not an entity, securities which are admitted to organized trading;
the audit was conducted in accordance with the International Standards on Auditing (ISA) put into effect and to be applied on the territory of the Russian Federation;
the audit was carried out in relation to complete set annual financial statements, the composition of which is established by the Federal Law "On Accounting";
the annual financial statements are prepared by the management of the audited entity in accordance with the rules for the preparation of financial statements established in the Russian Federation;
persons responsible for supervising the preparation of annual financial statements are not persons responsible for corporate governance audited entity (members of the board of directors, supervisory board, other);
the entity does not prepare other information as determined in accordance with SA 720, The Auditor's Responsibilities Relating to Other Information;
there is no material uncertainty related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern;
when performing an audit audit organization was guided by: Rules for the independence of auditors and audit organizations adopted by self-regulatory organization auditors, of which he is a member, on the basis of the Rules for the Independence of Auditors and Audit Organizations, approved by the Audit Council; the Code of Professional Ethics of Auditors, adopted by the self-regulatory organization of auditors, of which he is a member, on the basis of the Code of Professional Ethics of Auditors, approved by the Audit Council;
the terms of the audit engagement in terms of the responsibility of the management of the audited entity for the annual financial statements comply with the requirements of ISA 210 “Agreement of the terms of audit engagements”;
based on the audit evidence obtained, the audit firm has concluded that it is reasonable to express the unmodified opinion in the auditor's report;
in addition to the audit of the annual financial statements, regulatory legal acts do not require the auditor to perform additional procedures in relation to these accounts.]
AUDIT REPORT
Opinion
AUDIT REPORT
Shareholders joint-stock company"YYY"
Opinion
We have audited the accompanying annual consolidated financial reporting joint-stock company YYY (OGRN 8800000000000, 220, Profsoyuznaya street, Moscow, 115621) and its subsidiaries (the “Group”), consisting of a consolidated statement of financial position as at 31 December 2016 and consolidated statements of profit or loss and other comprehensive income, changes in equity and movement Money for 2016, as well as the notes to the annual consolidated financial statements, which consist of a summary of significant accounting policies and other explanatory information.
In our opinion, the accompanying annual consolidated financial statements present fairly, in all material respects, the consolidated financial position Group as of December 31, 2016, as well as its consolidated financial results of operations and consolidated cash flows for 2016 in accordance with International Financial Reporting Standards (IFRS).
AUDIT REPORT
To the shareholders of the joint-stock company "YYY"
Opinion
We have audited the accompanying annual financial statements of Joint Stock Company YYY (OGRN 8800000000000, 220, Profsoyuznaya Street, Moscow, 115621), consisting of a statement of financial position as at 31 December 2016 and statements of profit or loss and other comprehensive income , changes in equity and cash flows for 2016, as well as notes to the annual financial statements, consisting of a summary of significant accounting policies and other explanatory information.
In our opinion, the accompanying annual financial statements present fairly, in all material respects, the financial position of Joint Stock Company YYY as at 31 December 2016, as well as its financial performance and cash flows for 2016 in accordance with International Financial Reporting Standards ( IFRS).
AUDIT REPORT
To the shareholders of the joint-stock company "YYY"
Opinion
We have audited the attached annual financial statements of Joint Stock Company YYY (OGRN 8800000000000, 220, Profsoyuznaya Street, Moscow, 115621), consisting of the balance sheet as of December 31, 2016, income statement, annexes to the balance sheet and report on financial results, including the statement of changes in equity and the statement of cash flows for 2016, notes to the balance sheet and income statement.
In our opinion, the attached annual financial statements present fairly, in all material respects, the financial position of Joint Stock Company YYY as of December 31, 2016, its financial results and cash flows for 2016 in accordance with the accounting reporting rules set out in Russian Federation.
MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION
AUDITING BOARD
COLLECTION
EXAMPLE FORMS OF AUDITOR'S REPORTS
