Simple cash audit. Cash audit plan and program Cash audit plan table
Introduction
3.3 Audit Money
Conclusions and offers
Bibliography
Applications
Introduction
During the functioning of the economy, many calculations are carried out. Each enterprise, in the process of operation, makes payments to suppliers for fixed assets purchased from them, inventory items and services rendered; with buyers and customers - for purchased goods, works and services.
IN modern conditions functioning of the domestic economy, it is almost impossible to manage business entities without obtaining timely and reliable economic information, the most significant part of which comes from a well-established accounting system. Currently, no organization, regardless of departmental affiliation and forms of ownership, can function without maintaining accounting, since only accounting data provides complete information about the property and financial condition of the organization.
Managing a modern business is accompanied by the need to solve problems of varying complexity. Increasingly, organizations and individual entrepreneurs are faced with the problem of non-repayment of debts from unscrupulous counterparties. The conflicts of interest that arise in this case have already become an integral part of the life of society.
The relevance of the work lies in the fact that in the process of financial and economic activities, organizations have settlement relationships that reflect mutual obligations associated with settlements with suppliers for fixed assets purchased from them, raw materials, materials and other inventory items, work performed and services rendered ; with customers - for goods purchased by them, finished products; with a budget and tax authorities- for various types of payments; with other bodies and persons - for various business transactions.
audit cash control
Control over cash flow, settlements and bank credit is one of the main tasks for enterprises.
All this gives particular importance to cash accounting as the most important tool for managing cash flows, monitoring the safety, legality and efficiency of the use of funds, maintaining the daily solvency of the organization, and predetermines the choice of topic thesis.
All of the above determined the choice of this topic for work.
The purpose of this study is to conduct an audit of funds at a specific enterprise.
This goal requires solving the following tasks:
-study of the economic content and objectives of cash audit;
-study of regulations governing cash accounting;
-study of features internal control at a specific enterprise;
-conducting an audit of funds;
-searching for ways to improve cash accounting methods.
The object of the research carried out in this work is the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU. The subject of the study is transactions with funds in the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU.
The information base of this work is: statistical material for 2010-2012, decrees and legislative acts of the government of the Russian Federation, publications of economic magazines and newspapers, works of Russian and foreign authors dealing with and researching the problems of accounting and auditing of funds, as well as internal documentation of the enterprise FSUE Uchkhoz "Prigorodnoye" ASAU.
1. Theoretical aspects cash audit
1.1 Concept and classification of funds
We can say that the prerequisite for the emergence of accounting as a separate branch of knowledge and sphere of professional activity is the emergence of a universal meter of economic objects and operations - money. Based on the fact that accounting generates data on the results of economic activity in monetary terms, the issues of cash accounting always remain relevant both from the perspective of the theory of organizing settlement operations and for practicing accountants.
Money is a legal tender that is used to carry out transactions, i.e. purchases of goods, services, resources.
Money is a type of financial asset. There are monetary financial assets and non-monetary financial assets (stocks, bonds, bills, etc.), the value of which lies in the fact that they generate income (dividends, interest). The value of money lies in its high liquidity.
Liquidity is the ability of an asset to be quickly and costlessly exchanged for any other asset or converted into an accepted means of payment in the economy - money. All assets have this ability, although different assets have different degrees of liquidity. Cash has the property of absolute liquidity.
The amount of money circulating in the economy is called the money supply and represents the amount of money supply in the country. The question “how much money is in the state” turns out to be quite complex: it all depends on what is considered money.
Money is a special commodity that is a universal equivalent of the value of other goods and services. Money acts as a special object of civil law (Article 128 of the Civil Code of the Russian Federation). Qualify as generic, divisible and replaceable things that can be individualized if they are in circulation in the form paper banknotes, by specifying the number. Money is movable property (Article 133 of the Civil Code of the Russian Federation). They may be the subject of some civil transactions: loan agreements, donations, loan agreements.
This object of civil law is specified in Article 140 of the Civil Code of the Russian Federation by indicating that the legal tender, obligatory for acceptance at face value throughout the Russian Federation, is the ruble. The cases, procedure and conditions for the use of foreign currency on the territory of the Russian Federation are determined by law or in the manner established by it.
The existing variety of terms etymologically related to the category “cash” leads to the fact that in practical activities, reporting users, when describing the economic essence of phenomena, operate with different concepts, investing in them the same meaning: money, cash, cash flow, cash flows , financial flows, monetary resources and monetary assets. Each of these concepts in regulatory documents and scientific literature has its own definitions that reveal and complement their meaning. They are used differently by economists in interpreting economic phenomena and lead accountants to misunderstandings when preparing cash statements.
An analysis of the definitions set out in the specialized literature has shown that a clear, unified and consistent interpretation has not been achieved in theoretical studies. The differences consist either in the identification of the essence of the pair of concepts “cash and cash resources” and the second pair - “cash resources and cash flows”, or in the divergence of their semantic and economic content.
As for accounting, regulations governing the accounting of funds and the disclosure of information about them in accounting (financial) statements also use different terminology (Table 1.1). A semantic analysis of the new PBU 23/2011 “Cash Flow Statement” indicates the difference between the concepts of “cash” and “cash flows,” which will be discussed below (the concept of “cash resources” does not appear in the text).
Table 1.1 - Use of the concepts "cash", "cash flows" and "cash equivalents" in accounting regulations
Chart of Accounts PBU 4/99 "Accounting Statements of an Organization" PBU 23/2011 "Cash Flow Statement" Section V "Cash". The accounts in this section are intended to summarize information on the availability and movement of funds in Russian and foreign currencies held at the cash desk, in settlement, currency and other accounts opened in credit organizations within the country and abroad, as well as valuable papers, payment and monetary documentsSection IV "Contents of the Balance Sheet". Numerical indicators as of the reporting date (availability). Current assets: item "Cash" (current accounts, foreign currency accounts, other funds); article "Financial investments" Reflects the organization's payments and receipts of cash and cash equivalents to the organization (hereinafter referred to as the organization's cash flows), as well as the balances of cash and cash equivalents at the beginning and end of the reporting period (clause 6)
The term “cash” is present in every analyzed regulatory document, but none of them has a clear definition of it. It should be noted that the text of each regulatory act necessarily specifies the area of information about funds that it regulates. Either this is data on cash balances, or on their movement (in italics in the table). These clarifications are directly related to the correct understanding of the concepts discussed.
One of the most successful, in our opinion, definitions of cash is the definition given in the Financial and Economic Encyclopedia “Cash (English cash) is the most important type of financial assets that represent funds in Russian and foreign currencies, easily marketable securities, payment and monetary documents."
Cash supports virtually all aspects of operating, investing and financing activities. “The continuous process of cash flow over time is a cash flow, which is figuratively compared to the “financial circulatory system” that ensures the viability of the organization.”
An analysis of the positions of various authors regarding the use of the term “monetary resources” allowed us to draw the following conclusions. Firstly, it is used commercial banks in relation to their creation of reserve funds that contribute to solving the problems of increasing competitiveness, sustainability, etc. Secondly, the term in question is used by specialists in the field management accounting and financial management in developing a specific cash flow management strategy, which is based on the optimal use of available cash resources and their expected growth. There are contradictions in terminology here: cash resources are interpreted as expected cash receipts, while cash resources are used funds. And in this vein, the use of the term “monetary resources”, in our opinion, is not correct.
Thus, cash is the basis for the functioning of every enterprise, therefore, improving the methods of accounting for it, as well as control over its storage and use should be well organized.
1.2 Regulatory framework, meaning and objectives of cash audit
System regulatory regulation accounting, developed by the Department of Accounting Methodology and Reporting of the Ministry of Finance of the Russian Federation, consists of documents at four levels: legislative, regulatory, methodological and organizational.
The basic principles of accounting in the Russian Federation are formulated in Federal Law dated December 6, 2011 N 402-FZ “On Accounting” (as amended on July 23, 2013).
The banking system of the Russian Federation includes the Bank of Russia, credit organizations, as well as branches and representative offices of foreign banks. Legal regulation of banking activities is carried out by the Constitution of the Russian Federation, the Federal Law “On Banks and Banking Activities”, the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”, other federal laws, and regulations of the Bank of Russia.
Federal Law of May 22, 2003 N 54-FZ (as amended on July 2, 2013) “On the application of control cash register equipment when making cash payments and (or) payments using payment cards"
Basic rules for maintaining accounting records, as well as compiling and presenting financial statements are set out in the Regulations on accounting and financial reporting in the Russian Federation, approved. by order of the Ministry of Finance of the Russian Federation dated July 29, 1998 No. 34n (as amended on December 24, 2010).
Based on the Law on Accounting and the Regulations on Accounting and Financial Reporting in the Russian Federation, the Ministry of Finance of Russia develops regulations (standards) on accounting.
Regulations on the procedure cash transactions with banknotes and coins of the Bank of Russia on the territory of the Russian Federation (approved by the Bank of Russia on October 12, 2011 No. 373-P).
Regulations on the rules for transferring funds (approved by the Bank of Russia on June 19, 2012 N 383-P) (as amended on July 15, 2013) (Registered with the Ministry of Justice of Russia on June 22, 2012 N 24667).
Regulations on the procedure for conducting cash transactions and the rules for storing transportation and collection of banknotes and coins of the Bank of Russia in credit institutions on the territory of the Russian Federation (approved by the Bank of Russia on April 24, 2008 No. 318-P) (as amended on February 7, 2012) (Registered with the Ministry of Justice of the Russian Federation on May 26, 2008 .2008 No. 11751).
Order of the Ministry of Finance of the Russian Federation dated October 17, 2011 No. 133n “On approval of the Administrative Regulations for the implementation of the Federal tax service state function to exercise control and supervision over the completeness of accounting for cash proceeds in organizations and individual entrepreneurs" (Registered with the Ministry of Justice of the Russian Federation on January 16, 2012 No. 22906).
Accounting Regulations "Accounting Policy of the Organization". PBU 1/2008. It is especially important since the Regulation establishes the basis for the formation (selection and justification) and disclosure (publicity) of the accounting policies of organizations that are legal entities under the legislation of the Russian Federation (except for credit institutions and budgetary institutions) .
Since 2012 Central Bank of the Russian Federation, changes have been made to the accounting practice of the enterprise by adopting a new Regulation dated October 12, 2011 N 373-P “On the procedure for conducting cash transactions” (hereinafter referred to as Regulation N 373-P). In accordance with current legislation, credit institutions do not check the cash discipline of legal entities.
The accounting regulations "Statement of cash flows" (PBU 23/2011), approved by order of the Ministry of Finance of the Russian Federation dated 02.02.2011 No. 11n, for the first time in Russian practice introduced the concept of "cash equivalents", considering it as data on highly liquid financial investments that can be easily converted into a known amount of cash and which are subject to an insignificant risk of changes in value."
Note that the composition of cash equivalents in PBU 23/2011 is not clearly stated, while these components of cash flows are the main difference between the content of domestic reporting and reporting prepared in accordance with IFRS requirements.
Russian accountants have problems identifying and classifying such accounting items as cash, financial investments or liabilities. Hence, domestic reporting loses its information content and objectivity when assessing the solvency of an organization (there are from 16 to 20 coefficients). In the domestic chart of accounts, such a category as “cash equivalents” is not highlighted as a separate object.
1.3 Methodology for conducting a cash audit
The audit of cash transactions is a complex and labor-intensive section of the audit, requiring responsibility, composure and attention from the auditing auditors and assistants.
The main purpose of the audit of cash transactions is to verify the completeness and timeliness of the receipt of funds, the legality and reliability of the registration and reflection of completed transactions in their movement.
To achieve this goal, it is necessary to solve the following verification tasks:
-checking the compliance of the availability and flow of funds in the balance sheet and in the cash flow statement with accounting data;
-verification of primary accounting documents for cash transactions;
-checking the correctness of account assignments (postings) for cash transactions;
-checking the compliance of document data and analytical and synthetic accounting registers;
-checking the results of cash register inventories;
-checking the conditions for ensuring the safety of funds;
-checking the control system for the availability and movement of funds;
-checking the completeness and timeliness of cash delivery to the bank, compliance with the cash register limit and cash settlement limit;
-checking other aspects of the procedure for conducting cash transactions. Objects of inspection include:
-account 50 "Cash", other cash accounts and accounts corresponding to them;
-financial (accounting) statements of the audited organization in terms of the lines on which these funds are reflected.
By analogy with checking other sections of accounting, an audit of cash transactions is carried out in 3 stages.
The preparatory stage includes:
-familiarization with the conditions for carrying out cash transactions (studying the details of the relationship with the bank; the procedure for processing cash transactions) - Fig. 1.1;
-assessment of the state of internal control over the movement and safety of cash and other valuables in the cash register.
Figure 1.1 - Scheme of the preparatory stage of checking cash transactions
When studying the details of your relationship with the bank, you should familiarize yourself with at least two documents:
-an agreement with the bank on servicing a bank account;
-with the expectation of establishing a cash balance limit for the organization and obtaining permission to spend cash from the proceeds received at its cash desk.
2. The main stage includes checking the procedure for registration and accounting of cash transactions of the audited entity. If you have cash proceeds and cash register equipment (CCT), the verification becomes much more complicated. The main stage of the audit contains a large number of audit procedures that make it possible to identify possible violations in the conduct of cash transactions. The volume and nature of the procedures depend on the results of the assessment of the internal control system at the preliminary stage, the nature and scale of the organization’s activities.
Figure 1.2 - Scheme of the main stage of checking cash transactions
The final stage includes the preparation of reporting documents on the inspection carried out, the preparation of written information to the management of the inspected entity.
Based on the research carried out in the first chapter, the following conclusions must be drawn.
Cash includes assets of an enterprise that have liquidity closest to cash.
Cash is a “thin place” for abuse, both from employees of the organization and third parties. Therefore, detailed and prompt accounting of cash flows with the maximum level of detail is extremely necessary. The efficiency requirements for cash accounting are higher than for other types of accounting.
Setting up prompt and transparent accounting of cash and non-cash funds is one of the main tasks.
Accounting for settlement transactions should be structured in such a way as to help strengthen monetary relations, ensure acceleration of settlements and stability of operation national economy. It is designed to promote the proper use of funds and their safety.
Accounting must exercise constant control over the timely and complete receipt of funds at the enterprise's cash desk, control the sale of securities, transactions on payment and monetary documents, the timeliness and completeness of the delivery of funds to bank institutions and ensure the safety of national and foreign currency throughout their movement.
2 Organizational and economic characteristics of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU
2.1 a brief description of FSUE Uchkhoz "Prigorodnoye" ASAU
The organization FSUE Uchkhoz "Prigorodnoye" AGAU was registered on August 6, 1991. Registrar - Inspectorate of the Ministry of the Russian Federation for Taxes and Duties for the Industrial District of Barnaul, Altai Territory.
Type of ownership of FSUE Uchkhoz "Prigorodnoye" AGAU - Open joint-stock companies.
Form of ownership of FGUP Uchkhoz "Prigorodnoye" AGAU - Federal property.
Principal activities of FSUE Uchkhoz "Prigorodnoye" AGAU: growing grain, industrial and other agricultural crops not included in other categories (01.11), wholesale trade of live animals (51.23), wholesale trade of dairy products, eggs, edible oils and fats (51.33) .
The educational and experimental farm "Prigorodnoye" of the Altai State Agrarian University is a federal state unitary enterprise. The educational farm acquired this status in accordance with the Civil Code of the Russian Federation and was issued by order of the Ministry Agriculture and food of the Russian Federation dated 01.08.1997 No.-345. The educational farm was created in 1956 on the basis of economically weak collective farms and state fund lands. In 1958, it was transferred to the Altai State Agrarian University, which was called the Altai Agricultural Institute, as a training and experimental farm.
Uchkhoz is located in the northwestern part of the suburban area of Barnaul. On the territory of the farm there are 3 settlements: the village. Vlasikha, village Novo-Mikhailovka, village. Suburban. The central estate of the educational farm is located in the village. Prigorodny, 20 km from Barnaul. The address of the educational farm is as follows: 656922 Barnaul 22, st. Novosibirskaya, 44.
The authorized capital of the educational farm at the time of registration was 22 million rubles. According to the chief economist, because The educational farm does not have the status of a joint stock company, etc., then, accordingly, the authorized capital does not have a structure.
The agricultural farm has two main branches of production: crop production and livestock production.
To service the main branches of agricultural production, a vehicle fleet, a central repair shop, and a construction shop combining a sawmill, a carpentry shop and a repair and construction team have been organized on the central estate. In addition, the farm has two departments, each of which has three teams.
The organizational and management structure is presented schematically in Appendices 1 and 2.
The land area is 9640 hectares, including farmland 8355 hectares and is located 20 km from the regional center of Barnaul in the moderately arid steppe zone.
The climate of the Industrial District, in which the educational and experimental farm is located, is characterized by sharp continentality. The average temperature in January is 17.7?C, in July +18.9?C. The maximum temperature on some summer days reaches +35 to +38?C heat, and on winter days - 48 to 55?C frost. The winter period lasts on average 170 days. The height of the snow cover reaches 14 cm on the last day of November, increasing to a maximum of 35 cm in the first ten days of March.
The results of the economic activities of an educational farm are determined by a number of indicators. The main activities of an agricultural enterprise and the efficiency of its functioning are judged by specialization and size of production.
The main land fund for land use is represented by soils of the chernozem type of soil formation, which are formed on medium and heavy loams.
The main statutory tasks of the educational farm:
providing conditions for practical training of students;
production of agricultural products based on the use of modern scientific and technical achievements and zonal agricultural technologies;
creating conditions for conducting scientific research, production testing of new scientific developments;
production of knowledge-intensive products: elite grain seeds and fodder crops, breeding young animals of large cattle.
The agricultural farm includes two departments, each of which has two teams - field cropping and livestock breeding. To serve the main industries of the village. - X. production on the central estate of the educational farm there is a car park, a central repair shop, a construction shop that combines a sawmill, a carpentry shop and a repair and construction team.
The material and technical base of the farm meets the needs of the farm and is a good basis for student practice and scientific research.
Let's analyze the main results of the financial and economic activities of the enterprise using Table 2.1.
Table 2.1 - Main results of financial and economic activities
No. Contents 2010 2011 2012 Deviation, (+,-) Changes, % 2011 from 2010 2012 from 2011 2011 2012 1 Revenue (net) from the sale of goods, products, works, services 9189310881910008116926-873818.42-8.032 Sebesto cost of goods, products, works, services.612.123Gross profit 93105914-5005-3396-10919-36.48-184.634 Profit (loss) from sales 93105914-5005-3396-10919-36.48-184.635 Profit (loss) before tax 915310491-20341338-1252514, 62-119,396Net profit (loss) reporting period 700110022-26433021-1266543.15-126.377 Average annual value of assets 126409.5198475.52688637206670387.557.0135.468 Average annual value of current assets 58963648826632459191442 10,042,229 Average annual value of equity capital 80522,5150228,52149846970664755,586,5743,1010 Average annual value of receivables 224319041498,5-339- 405.5-15.11-21.3011 Average annual cost accounts payable 29476.530012.532733.553627211.829.0712 Return on equity, % 8,696.67-1.23-2.02-7.90-23.27-118.4313 Return on assets, % 7.245.29-0.76-1 .95-6.04-27.00-114.3114Sales profitability, %10.135.43-5.00-4.70-10.44-46.36-192.0215Product profitability,%11.275.75-4.76 -5.53-10.51-49.02-182.8716 Asset turnover, times 0.730.550.37-0.18-0.18-24.58-32.1117 Accounts receivable turnover, times 40.9757.1566.7916, 189.6339.5016.8618 Accounts payable turnover, times 3,123,633,060.51-0.5716.30-15.6719 Number of employees, people. 249248240-1-8-0.40-3.2320 Accrued wages, thousand rubles. 325343412335853158917304.885.0721Agricultural area, ha835583558355000.000.0022Average annual output of an employee, thousand rubles. /person 369.05438.79417.0069.74-21.7818.90-4.9623 Salary and return 2.823, 192.790.36-0.4012.90-12.4724 Revenue per 1 hectare, thousand rubles. 11.0013.0211.982.03-1.0518.42-8.03
There was a significant increase in the company's assets in 2011. by 57.01% (RUB 72,066 thousand) and in 2012. by 35.46% (RUB 70,387.5 thousand). As a result, asset turnover decreased in 2011. by 24.58% in 2012 by 32.11%.
In general, in 2012 there was a significant deterioration in the activities of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU, which was reflected in a loss in the main activity and a reduction in the efficiency of using available resources.
Figure 2.1 - Dynamics of profit indicators of FSUE Uchkhoz "Prigorodnoye" ASAU in 2010 - 2012.
The general director of the organization is responsible for the organization of accounting and compliance with the law when carrying out business operations at the FSUE Uchkhoz "Prigorodnoye" ASAU, and the chief accountant is responsible for its maintenance. The chief accountant of the FSUE Uchkhoz "Prigorodnoye" AGAU, together with the head of the organization, signs documents that serve as the basis for acceptance of goods material assets, cash, settlement and credit and financial obligations.
The Order on the Accounting Policy of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU is drawn up once a year, for example, on December 29 or 30 for the next reporting year. The accounting policy has two sections: accounting policy for accounting and accounting policy for tax accounting.
The accounting policy section for accounting specifies the organization of accounting at the enterprise, the procedure for maintaining records of fixed assets and depreciation of fixed assets, accounting and amortization of intangible assets, inventories, income and expenses, the creation of reserves and the use of enterprise profits.
Thus, according to the accounting policy of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU is obliged to:
-maintain accounting records using a working chart of accounts;
-keep accounting records in journal-order form electronically using the 1C program and manually;
-accept for accounting primary documents drawn up according to the standard form of primary accounting documentation;
-keep accounting records in rubles and kopecks;
-cash settlements with the population (including individual entrepreneurs) when carrying out trade operations (performance of work, provision of services) are carried out using cash registers.
The tax accounting policy specifies the procedure for calculating VAT, corporate income tax and other taxes paid by the enterprise to the budget.
The accounting policy of the enterprise is approved by order of the director. Accounting policy is the main document regulating accounting and taxation procedures. An annex to the accounting policy is the Working Chart of Accounts; it also specifies unified accounting forms for the preparation of primary documents and internal accounting documentation.
2.2 Analysis financial condition FSUE Uchkhoz "Prigorodnoye" ASAU
Studying the assets and liabilities of the balance sheet allows you to assess the change in the composition and mobility of funds, the sources of formation of the organization’s property and the efficiency of their use.
We will analyze the aggregated balance in Table 2.2.
Table 2.2 - Analysis of the aggregated balance
Designation indicator amount, thousand rubles. share of change over the year share of factors in the change in balance last year, % share of factors in the change in the balance sheet reporting year, % 12/31/2010 12/31/2011 12/31/2012 31/12/2010 12/31/2011 12/31/2012 growth rate previous year, % growth rate reporting year, % ASSET Non-current assets A4 68 453198 734206 34452.6274.4776 ,18190.323.8395.25190.15 Inventories, VAT on acquired assets and other A3 59 40066 42763 08045.6624.8923.2911.83 (5.04) 5.14 (83.63) Accounts receivable A2 2 2341 5741 4231.720.590.53 (29.54) (9.59) (0.48) (3.77) Cash, short-term financial investments A1 2127170.000.050.016 250.00 (86.61) 0.09 (2.75 ) BALANCE 130 089266 862270 864100.00100.00100.00105.141.50100.00100.00 LIABILITY Equity capital P4 84 023216 434213 53464.5981.1078.83157.59 (1.34 ) 96.81 (72.46) Long-term liabilities P3 8 13317 48313 1516.256.554.86114.96 (24.78) 6.84 (108.25) Short-term borrowed funds P2 --6,000--2.22-149.93 Accounts payable and other short-term liabilities P1 37 93332 94538 17929.1612.3514.10 (13.15) 15.89 (3.65) 130.78 BALANCE 130 089266 862270 864100.00100.00100.00105.141.50100.00100.00
The data in Table 2.2 indicates an increase in the balance sheet currency in 2011 by 136,773 thousand rubles, or 105.4%, under the influence of non-current assets, the increase of which amounted to 130,281 thousand rubles, or 190.32%. The main source of financing for property growth was equity capital, which increased by 157.59%.
The increase in the balance sheet currency at the end of 2012 amounted to 4,002 thousand rubles, or 1.50%. The main increase occurred in non-current assets (+ 3.83%) and accounts payable and other short-term liabilities (+ 15.89%).
Financial stability is an integral part of the overall stability of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU, the balance of financial flows, the availability of funds that allow the organization to maintain its activities for a certain period of time, including servicing received loans and producing products. It largely determines the financial independence of the organization.
Table 2.3 - Analysis of absolute indicators financial stability
Indicator 12/31/201012/31/201112/31/2012 Own working capital (SOS) 15 57017 7007 190 Own working capital standard (10% of current assets) 6 1646 8136 452 Deficit/surplus 9 40610 887738 Own working capital 15 57017 7007 190 Inventories and VAT 59 40066 42763 080 Deficit/surplus of sources of financing inventories (43 830) (48 727) (55 890) Provision of inventories with own working capital, % 26.2126.6511.40 Own working capital and long-term liabilities 23 70335 18320 341 Inventories 59 40066 42763 0 80 Deficit/surplus of sources of financing of inventories (35,697) (31,244) (42,739) Provision of inventories with own working capital and long-term liabilities, % 39.9052.9632.25 Own working capital, long-term liabilities and short-term borrowed funds 23 70335 18326 341 Inventories 59 40066 42763 080 Deficit/surplus of sources of financing of inventories (35,697) (31,244) (36,739) Provision of inventories with own working capital, long-term liabilities and short-term loans and borrowings, %405342
According to the data in Table 2.3 of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU, it would be necessary to draw a conclusion about the crisis financial stability, since reserves and costs throughout the entire period under study could not be financed even with the involvement of short-term borrowed money.
Let's analyze the financial stability coefficients in Table 2.4.
Table 2.4 - Capital structure coefficients of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU in 2010 - 2012
Standard indicator 12/31/2010 12/31/2011 12/31/2012 Autonomy coefficient 0.500.650.810.79 Financial stability coefficient 0.700.710.880.84 Financial activity coefficient (leverage: debt capital to equity) 0.670.100.080.09 Security content of current assets with own working capital 0,100,250,260,11 Provision of inventories with stable sources of financing 1,000,400,530, 32Maneuverability of equity capital (own working capital to equity capital) 0.100, 190,080.03
The data in Table 2.4 indicates that most of the presented coefficients correspond to standard values. The dynamics of the autonomy coefficient indicate that both at the beginning and at the end of the period under study, a significant share of assets was formed through own funds, which is a positive trend.
According to the dynamics of the financial stability coefficient, at the beginning of the study period, 71% of assets were formed through long-term sources funds, at the end of the study period their share increased to 84%, which is a sufficient amount.
Liquidity of an enterprise is the ability of an enterprise to timely fulfill obligations for all types of payments. The greater the degree of performance ability
This indicator is used to assess the image of the organization, its investment attractiveness. The higher the level of investment attractiveness, the higher the level of solvency.
Table 2.5 - Liquidity ratios of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU in 2010 - 2012
Indicator 12/31/201012/31/201112/31/2012 Total liquidity 0.47 0.55 0.44 Absolute liquidity 0.000 0.004 0.000 Intermediate liquidity 0.06 0.05 0.03 Current liquidity 1.62 2.07 1.46
The data in Table 2.5 indicate the illiquidity of the balance sheet of the enterprise under study, which is primarily due to a lack of funds.
2.3 Analysis of funds of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU
Let's analyze the structure of cash flows using Table 2.6.
Table 2.6 - Structure and dynamics of receipts and payments
Indicator 2011 2012 change for the year value, thousand rubles. beat weight, % value, thousand rubles. beat weight, % in thousand rubles. growth rate, % Revenues Current activities 106,119 95.45 91,443 93.84 (14,676) (13.83) Investment activities 87 0.08 - - (87) (100.00) Financial activities 4,969 4.47 6 000 6.16 1,031 20.75 Total receipts 111,175 100.00 97,443 100.00 (13,732) (12.35) Payments Current activities (99,104) 89.24 (91,766) 94.07 7,338 ( 7.40) Investing activities (6,977) 6.28 (5,610) 5.75 1,367 (19.59) Financing activities (4,969) 4.47 (177) 0.18 4,792 (96.44) Total payments (111,050) 100.00 (97,553) 100.00 13,497 (12.15) Result of cash flows for the period Current activities 7,015 5,612.00 (323) 293.64 (7,338) (104.60 ) Investing activities (6,890) (5,512.00) (5,610) 5,100.00 1,280 (18.58) Financing activities - - 5,823 (5,293.64) 5,823 - Total cash flow result 125,100, 00 (110) 100.00 (235) (188.00)
During the period under study, the main source of cash inflow was current activities, but their share in the total cash inflow decreased from 95.45% in 2011 to 93.84% at the end of 2012.
3. Audit of funds of FSUE Uchkhoz "Prigorodnoye" ASAU
3.1 Assessing the internal control system
During the audit, auditors collect a large amount of various information, which is necessary for further analysis of the accounting status of the auditee. economic entity and expressing an opinion on the legality of his actions and compliance with the law. To accumulate and systematize this information, it is recommended to use special working documents that will facilitate the procedure for checking and processing the collected data, as well as drawing conclusions based on its results.
Basic requirements for the auditor’s working documents when checking cash transactions:
-all questions intended for verification must be reflected in them in a certain sequence;
-they must be easy to use and understandable to each member of the group, so that any reviewer (auditor) can subsequently draw conclusions based on the data in these working documents.
The list of documents used during verification may vary. It depends on the nature of the cash transactions being audited, the audit methodology and the assigned audit procedures.
The test survey for the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU is presented in Appendix 5.
Before the audit, the organization was tested for the possibility of conducting an audit. According to Appendix 6 of IP Khrustaleva K.A. can conduct an audit because it has all the necessary resources.
Between FSUE Uchkhoz "Prigorodnoye" AGAU and IP Khrustaleva K.A. an agreement was concluded to conduct an audit (Appendix 7). According to the price agreement protocol (Appendix 8), the cost of services is set at 108,000 rubles.
In working documents, the auditor, when describing the internal control system, notes its features or shortcomings, identifies the means of internal control that he intends to take into account in order to reduce the volume of substantive audit procedures.
Before starting the audit, I assessed the accounting and internal control system based on Table 3.1.
Table 3.1 - Test for assessing the accounting and internal control system at the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU
No. Questions Yes No I don’t know Notes 1 Is there a safe for storing cash? +2Has an agreement on full financial liability been concluded with the cashier? +3Are there surprise cash checks? +4Is the cash book generated in an automated way? +5Are the responsibilities of a cashier and an accountant combined? +
Based on the results of this table, the following can be noted: the degree of control risk is high. In this situation, it is more reasonable to conduct a complete audit of cash transactions, since the absence of an agreement on the financial responsibility of the cashier, the combination of duties of the cashier and accountant and the absence of sudden checks of the cash register reduce the effectiveness of the internal control system.
Let's test the accounting system of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU (Table 3.2).
Table 3.2 - Accounting system test
N Directions and control issues ANSWER Note 1 Have schemes been developed for recording cash transactions in the accounts? YES2 Is there a periodic reconciliation of cash book data with data from accounting registers and primary documents? YES3 Are bank statements regularly processed and reflected in accounting? YES5 Is the compliance of cash flow register data with their actual availability checked? YES
Based on Table 3.2, we can conclude that the cash accounting system at the enterprise is properly organized.
Let's determine the level of materiality.
Table 3.3 - Assessment of the level of materiality
Name of the basic indicatorValue of the basic indicator of the financial statements of the economic entity being auditedShare (%) Value used to find the level of materiality1. Sales volume1000812%2001.622. Cost of products sold1050862%2101.723. Balance currency2708642%5417.284. Equity21353410%21353.45. Short-term accounts receivable14235%71.15 Average6189.034
Since the smallest and largest values differ significantly from the average, we will discard it in further calculations.
The new arithmetic mean will be:
(2001.62 + 2101.72 + 5417.28) / 3 = 3173.5 thousand rubles.
Let's discard the largest value:
(2001.62 + 2101.72) / 2 = 2051.7 thousand rubles.
We round the resulting value to 2000 thousand rubles. This indicator is the level of materiality, and errors exceeding 2000 thousand rubles will be significant.
At the planning stage, the on-farm risk of the FSUE Uchkhoz "Prigorodnoye" AGAU is 75%, the control risk is 52%, the risk of non-detection is 11%.
Then the acceptable audit risk will be equal to:
% * 52% * 11% = 4, 3 %.
This means that after the audit, the risk of not detecting any deviations will be equal to 4.3%.
3.2 Audit plan and program
In progress tax audit Inspectors are required to check the following aspects of cash discipline:
Incoming and outgoing cash orders.
Order log.
Cash book.
Book of accounting of money issued by the cashier.
Journal of the cashier-operator. When checking the completeness of revenue accounting, inspectors require control tapes, certificate reports and a cashier-operator's journal.
Cash limit order. Inspectors will require an order even for a zero limit.
Expense reports. An advance report drawn up late or for two previously issued advances is a reason for a fine.
Order for storage and inventory of cash. Sometimes inspectors during inspections, in addition to the unified cash register, require additional internal documents from companies. In particular, an order on the storage of cash, as well as on the procedure and timing of the inventory of funds. It follows from the new procedure that it is necessary to determine the place for cash transactions, the procedure for storing and checking cash (clause 1.2, 1.11 of Regulation No. 373-P). To do this, you can place an order in free form. However, there is no fine this year for the lack of an equipped cash register. The judges also agree with this (resolution of the Twelfth Arbitration Court of Appeal dated March 26, 2012 No. A12-972/2012).
Therefore, we will take these aspects into account when drawing up an audit plan and program.
The general audit plan is presented in Appendix 9. The audit program of FSUE Uchkhoz "Prigorodnoye" ASAU is presented in Appendix 10.
3.3 Cash audit
The composition of working documents reflecting the information collected at the main stage of verification is somewhat different from working documents filled out at preparatory stage. In particular, it is recommended to include columns containing information about identified errors in these documents. Such information includes the results of checking the correctness of the posting of cash, the validity of payments, the correspondence of accounting register entries to cash book data and other working documents.
Information on the procedure for using proceeds will be reflected in the working document presented in Table 3.4. The table reflects the procedure for using proceeds agreed with the bank, then this document indicates the actual procedure for its use, which makes it possible to determine whether the established procedure is being violated.
Table 3.4 - Results of familiarization with the procedure for using proceeds
Established procedure for using proceeds In accordance with current legislation and in agreement with the bank Established purposes for which proceeds can be used - payment wages; issuance on record; travel expenses No. Identified deviations in the procedure for submitting proceeds to the bank in the procedure for using proceeds Date of the nature of the violation Date of the nature of the violation 105.08 The proceeds received were not handed over to the bank 07.08 The proceeds received at the cash desk were spent on paying wages 205.09 The money received by check for the payment of wages was partially issued for reporting
Thus, during the audit process, some violations of the procedure for submitting proceeds to the bank and the procedure for using proceeds were identified.
The balance of cash in the cash register must be determined at the end of the working day after all transactions regarding the receipt and expenditure of cash are reflected in the Cash Book.
After determining the cash balance in the cash register, all excess cash must be handed over to the servicing bank.
The Procedure for Conducting Cash Transactions does not clearly indicate for what period the cash limit should be extended: a month, a quarter, a year or more. According to the Appendix to the Procedure for Conducting Cash Operations, to calculate the cash balance limit, a settlement period is used, which is no more than 92 working days of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU.
At the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU, an annual inventory is carried out before drawing up annual financial statements. The organization has a permanent inventory commission, which includes the general director, chief accountant and persons appointed by the general director when concluding an order to conduct an inventory. Based on the results of inventories carried out in 2010 - 2012. no violations were identified, and relevant documentation was drawn up.
At the next stage of the audit, we checked the correctness of the documentation of cash transactions. As a result of checking the correctness of the cash book, it was established that the cashier of the FSUE Uchkhoz "Prigorodnoye" AGAU periodically reflected cash transactions in the cash book not every day, but once every few days. In this case, the date in the cash book was indicated as follows: “Cash for July 8-15, 2013.” Such a reflection of cash transactions is unacceptable from the point of view of current legislation, since it raises doubts about the compliance of balances with the limit established by the bank. Thus, many accountants believe that if the balance as of July 15 does not exceed the established limit, then there is no violation. However, the check may reveal a violation of the limit on any of the days from July 8 to July 15.
At the next stage, mutual verification of cash receipt orders and related documents was carried out.
a) with a journal for registering incoming and outgoing cash documents. The cash receipt order must be registered in the registration journal before it is transferred to the organization's cash desk.
When comparing these documents, the auditor checked:
-whether the numbers and dates of compilation indicated on cash receipt orders correspond to the numbers and dates indicated in the registration journal;
-whether the amounts indicated in the “Amount” line of cash receipt orders correspond to the amounts indicated in the “Amount” column of the registration journal;
-whether the content of business transactions indicated in the “Note” column in the registration journal corresponds to the content of business transactions indicated in the “Base” line in cash receipt orders.
Based on the results, a table was compiled in the following form (Table 3.5).
Table 3.5 - Summary table of incoming cash orders that are not registered in the Journal of registration of incoming and outgoing cash documents or have discrepancies with it
PKO Identified violations Data from a survey of the cashier, accountant No. date 007 16.01.13 Date of registration of the PKO in the journal one day later No explanations 02420.02.13 Amount in the PKO - 12,500 rubles. The amount in the registration journal is 12,300 rubles. No explanations
b) with a cash book. All cash receipts from FSUE Uchkhoz "Prigorodnoye" AGAU are recorded in the cash book. Data from cash receipt orders is recorded in the cash book. All cash receipt orders, together with a tear-off sheet of the cash book (cashier's report), are submitted by the cashier to the accounting department.
Based on the results, a table was compiled in the following form (Table 3.6).
Table 3.6 - Summary table of cash receipt orders that are not registered in the Cash Book or have discrepancies with it
PKOVIdentified violations Data from a survey of the cashier, accountant No. date 04112.03 Differences in the lines “Accepted from” (Andreev) and “From whom received” (Andreenko) The cashier referred to a typo
The cashier of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU 08/05/2012, according to the check, received from the bank the amount for the purchase of materials in the amount of 10,000 rubles.
Let's check the compliance of the amount of 10,000 rubles. in the next accounting documents:
-in the counterfoil of cash check No. 12029 dated 08/05/2012 - 10,000 rubles;
-in the cash receipt order No. 01 dated 08/05/2012 - 10,000 rubles;
-in the receipt part of the cash book dated 08/05/2012 - 10,000 rubles;
-in the bank statement from the current account dated 08/05/2012 - 10,000 rubles.
As a result of this audit, it was established that cash was fully and timely capitalized. This operation was documented correctly.
3.4 Summary of audit findings and suggestions for improvement
The audit was planned and performed in such a way as to obtain reasonable assurance that the accounting (financial) statements do not contain material misstatements. The audit was carried out in a continuous manner and included the study of evidence confirming the meaning and disclosure in the accounting (financial) statements of information on the financial and economic activities of FSUE Uchkhoz "Prigorodnoye" AGAU, assessment of the principles and methods of accounting, the procedure for preparing accounting (financial) statements, determination and analysis of significant estimated values used by the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU.
It is assumed that the audit provided provides sufficient grounds for expressing an auditor's opinion on the reliability in all material respects of the accounting (financial) statements of the FSUE Uchkhoz "Prigorodnoye" AGAU and the compliance of its financial (economic) transactions with the legislation of the Russian Federation.
In our opinion, cash transactions, transactions on settlement and foreign currency accounts of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU accurately reflect all financial and economic transactions carried out for April - December 2012.
The organization of accounting at the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU is built in accordance with the Federal Law "On Accounting". Responsibility for organizing accounting in organizations and compliance with legislation when carrying out business transactions lies with the head of the organization.
The accounting of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU is built using the base of the software package "1C: Enterprise 8.0". The organization carries out operational and accounting records in all areas of accounting, including cash transactions and transactions on the current account of the enterprise, maintains statistical reporting and is responsible for their accuracy in accordance with current legislation.
As a result of the audit, the following violations were identified:
.As a result of checking the correctness of the cash book, it was established that the cashier of the FSUE Uchkhoz "Prigorodnoye" AGAU periodically reflected cash transactions in the cash book not every day, but once every few days. In this case, the date in the cash book was indicated as follows: “Cash for July 8-15, 2013.”
2.The date of registration of the PKO in the journal is one day later.
.Discrepancies in the amounts of the PKO and the PKO registration log: the amount in the PKO is 12,500 rubles; the amount in the registration journal is 12,300 rubles.
.Differences in the lines of the PKO “Accepted from” (Andreev) and the Cash Book “From whom received” (Andreenko).
.The presence of corrections in some banking documents.
.Lack of certain payment documents that must confirm the fact of transactions.
.Absence of a bank mark on some payment documents.
· when identifying the fact that the cash balance limit has been exceeded, established by the management of the organization, clarify the reason, since on the day of payment of wages, exceeding the cash balance limit is allowed. The period for storing cash at the cash desk in such circumstances is no more than three working days, including the day the money is received at the bank office.
Conclusions and offers
Cash is the basis of the well-being of every enterprise, therefore, improving the methods of accounting for it, as well as monitoring its storage and use should be well organized.
It should be noted that at the enterprise under study, accounting of cash transactions is carried out in accordance with current legislation. On-farm control of the safety and use of funds on the farm is carried out by the manager and chief accountant. The accounting service is responsible for accounting at the enterprise. Accounting for cash transactions is kept on account 50, transactions on current accounts in the bank - on account 51. In accordance with the deadlines established by law, the enterprise conducts inventories of funds.
The object of the research carried out in this work is the enterprise FSUE Uchkhoz "Prigorodnoye" AGAU.
Accounting at the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU is carried out in accordance with the requirements of the current legislation of the Russian Federation and other regulatory legal acts in order to generate complete and reliable information about the organization's activities and its property status, necessary for internal users of accounting statements. Accounting of FSUE Uchkhoz "Prigorodnoye" AGAU is built using 1C: "Enterprise 7.7" The organization carries out operational and accounting records in all areas of accounting, including cash transactions and transactions on the current account of the enterprise, maintains statistical reporting and is responsible for their accuracy in in accordance with current legislation.
In the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAU, it is recommended to introduce into the accounting staff the position of an accountant-auditor, who will report directly to the chief accountant. In connection with the introduction of this position, the auditor’s accountant can be assigned the responsibility of monitoring the use of funds. As a result, the accountant-auditor will be able to constantly monitor:
¾ whether funds are stored in the servicing bank institution on the current account of the same enterprise;
¾ are settlements with other enterprises carried out non-cash through a bank establishment;
¾ whether the bank has set a cash limit and whether the amount of funds above the established limit is deposited with the bank;
¾ When identifying the fact that the cash balance limit has been exceeded, clarify the reason, since on the day of payment of wages, exceeding the limit in the cash register is allowed. The period for storing cash at the cash desk in such circumstances is no more than three working days, including the day the money is received at the bank office.
In order to avoid the formation of a large excess amount or, conversely, a deficit in the cash register of the enterprise, it is recommended to plan some cash transactions, which in due time will help to avoid the formation of a large excess amount or, conversely, a deficit in the cash register of the enterprise.
Important for the well-being of enterprises is the safety of cash payments, carefully organized accounting and control of funds, credit and settlement transactions. An audit of the cash register and cash transactions should be carried out in three main areas:
¾ cash inventory;
¾ checking the completeness and timeliness of the receipt of funds received at the cash desk;
¾ checking the correctness of money being written off as an expense.
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Applications
Annex 1
Scheme of the organizational structure of the FSUE educational farm "Prigorodnoye" ASAU
Appendix 2
Diagram of the management structure of FSUE "Prigorodnoye" AGAU
Appendix 3
Test survey "Organization and maintenance of accounting"
Question answer Computer data processing systemsAccounting technology used (manual, computer) Computer Software used in the accounting system 1C-accounting 7.7 How regulated access to computer databases is controlled Network password Computerized accounting areas (all; if not all, then indicate which ones) All How often (if not all) printing is done accounting (tax) registers on paper Once a quarter How updating is ensured software product due to changes in legislation Provided by the software developer What changes were made to software in the current reporting (previous) periodChanging the invoice form Internal control systemIn what form is the internal control service presented (internal audit system, audit commission, etc.) Internal auditor To whom does the head of the internal control service report to the General Director Number of employees in the internal control service, people. 1Are there documented instructions for performing control functions (Yes/No) No How are the results of the work of the internal control service documented? Internal auditor reports What changes There have been no documented changes No No Special events that could affect the organization's positionWhen was the last tax audit carried out? None What is the amount of recognized claims based on the results of the last tax audit, rub. -For the current reporting period, the organization is involved in a lawsuit against the organization (indicate the amount of claims, rub.) No Accounting policyWere changes made to the accounting policies in the last reporting period (Yes/No) Not made Is there a documentary description of the accounting system Yes How often are changes made to the organization’s accounting policies Approved by the head on the recommendation of the financial director Is there a combination of methods in accounting and tax accounting (where possible) Yes Approved Are the reporting forms documented? No External environmentHas the level of competition in the industry increased over the past three years (Yes/No) Yes The level of competition is assessed as (Indicate in the types of activities): high (there is constant pressure from competitors in prices, purchase of raw materials, outflow of customers); average (same conditions with other market participants); low (competitors cannot have a significant influence or are absent) AIC - medium Features of economic activityWere new technological lines opened during the reporting period (Yes/No) No Were changes made to the organization’s technological process during the reporting period (Yes/No) No Are changes being prepared in the production process (Yes/No) Yes Contract practiceWere agreements concluded during the period under review (Yes/No): CreditNoLoanYesRentYesCollateralNoLeasingNoExport contractsNoImport contractsNo Unusual dealsAre the following types of transactions used in the organization’s practice (Yes/No): With affiliates No Assignments of claims No For cash Yes Barter transactions No Bill settlements No Appendix 6
Name (logo) of the auditing organization IP Khrustaleva K.A. No. RD Name of the audited entity FSUE Uchkhoz "Prigorodnoye" AGAU Audited period: from to
QUESTIONNAIRE ABOUT THE POSSIBILITY OF CONDUCTING AN AUDIT AT THE CUSTOMER
No. Question Answer Notes Yes No 1. INDEPENDENCE 1.1 The head or other official of the audit organization is the founder (participant) of the customer. + 1.2 Any of the officials of the audit organization is an official or accountant of the customer, or is responsible for the organization and maintenance of accounting and reporting for the customer. + 1.3 The head or other official of the audit organization is closely related to the founder (participant) or official of the customer who is responsible for organizing and maintaining accounting records and reporting. + 1.4 The director, other official of the audit organization or one of his close and/or relatives has profitable investments with the customer. + 1.5 The head or other official of the audit organization is the client’s trustee. + 1.6. Officials of the audit organization have serious private relationships with officials of the customer, such as close friendship, joint leisure activities, etc. + 1.7 The customer is a subsidiary of the audit organization. + 1.8 The customer has common founders (participants) with the audit organization. + 1.9 The audit organization owns a stake in the client’s organization. + 1.10 The audit organization provided the customer with services for maintaining or restoring accounting records, drawing up accounting (financial) statements in the period for which the audit was carried out. + 1.11 In previous years, the audit organization provided audit services to the customer. + 1.12 There is a conflict of interests between the customer and the audit organization. + 1.13. The audit organization is a debtor or creditor of the customer. + 1.14. Have there been any cases of significant delays in payment by the customer for audit services previously provided to him by the audit organization? + 1.15. The customer is the guarantor of the audit organization in relations with a third party. + 1.16. Revenue received from providing audit services to the customer constitutes a significant share of the audit organization’s income. + 1.17. A significant share of the income from the provision of audit services to the client is received by the individual auditor. + 1.18. The audit organization is involved or is at risk of being involved in any legal process involving the client. + 1.19. The audit organization was provided with excessive hospitality by the client or someone closely associated with it. + 1. 20. There are other circumstances that jeopardize the independence of the audit organization from the client (indicate which). + 2. COMPETENCE 2.1 The audit organization has employees who have the necessary competence to conduct an audit for a given customer. + 2.2 If the audit organization does not have employees with the proper competence, the audit organization may involve persons with the necessary knowledge. + 3. BUSINESS OPPORTUNITIES 3.1 The audit organization has available workers to complete the task within the required period of time, and also has the necessary material and technical base. + 3.2 If the audit organization lacks business capacity to conduct an audit, can it fill it. + 4. RISK ASSOCIATED WITH THE CUSTOMER 4.1 The customer’s accounts are in such a state that an audit is not possible + 4.2 The customer had signs of possible bankruptcy, such as problems with payments, etc. + CONCLUSIONS: The audit organization should refuse the assignment. + The audit organization can conduct an audit within the expected time frame + The audit organization should discuss with the customer the possibility of conducting an audit within the time frame ________________ +
Appendix 7
AGREEMENT No. 19
for the provision of audit services
Individual Entrepreneur Khrustaleva K.A., hereinafter referred to as the "Contractor", represented by the director, acting on the basis of the Charter, on the one hand, and __ Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU _ Hereinafter referred to as the "Customer", represented by director Shalamov N.S., acting on the basis of the _Charter_, on the other hand, we have concluded this agreement as follows:
.Subject of the agreement
1.The Contractor will provide the Customer with audit services of its financial and economic activities for the period from November 07, 2013 to November 18, 2013 in order to objectively assess the documentation of cash transactions, their synthetic and analytical accounting for January-December 2013 .
1.2.The list of issues to be studied and verified (audit plan) is attached to this Agreement and is an integral part of it (Appendix 1).
2.Duties of the parties
1.The Contractor undertakes:
1.1.Start providing the services provided for in clause 1.1 of this Agreement from November 07, 2013 and end on November 18, 2013 (the timing of the audit may change by agreement of the parties);
2.1.2.Provide practical assistance during the audit process in eliminating identified deficiencies;
1.3.Based on the results of the audit, submit a written audit report and recommendations aimed at improving the financial and economic performance of the Customer.
2.2.The customer undertakes:
2.1.Provide the necessary conditions for the work of the Contractor’s auditors (i.e. workplace, telephone communication);
2.2.2.Provide the Contractor's auditors with the documents necessary for the audit in a timely and complete manner. The customer is responsible for the accuracy of the documents provided in accordance with current legislation;
2.3.Provide, upon the Contractor's request, explanations from the Customer's officials on issues related to the audit.
3.Payment procedure
1.For the provision of services provided for in this Agreement, the Customer transfers three hundred ten thousand rubles to the Contractor’s bank account within ten days from the date of completion of the audit under this Agreement.
3.2.For late payment provided for in clause 3.1 of the Agreement, the Customer shall pay the contractor a penalty in the amount of 0.1% of the Agreement amount for each day of delay. If the delay exceeds 5 days, then the Contractor collects the amount provided for in clauses 3.1., 3.2 of the Agreement by submitting a payment request to the bank institution.
3.If, after an audit performed by the Contractor, and on issues that were subject to inspection, violations are revealed by the regulatory authorities, the Contractor undertakes to compensate the Customer for the amount of the fine resulting from the auditors’ untimely discovery of deficiencies in the Customer’s work, but within the limits of the amounts paid by the Customer to the Contractor for this audit .
4.Responsibility of the parties
1.The parties are responsible for improper fulfillment of the terms of this Agreement in accordance with the current legislation of the Russian Federation.
.Grounds for early termination of the contract
1.This Agreement cannot be terminated unilaterally, except in cases where one of the parties systematically violates the terms of the Agreement and its obligations.
5.2.In the event of a systematic violation by the Customer of its obligations, resulting in termination of this Agreement, it is obliged to pay the Contractor for the work actually performed in accordance with the audit plan (Appendix No. 1).
3.One of the parties has the right to terminate this Agreement in the event of failure to fulfill the obligations assumed by the other party.
6.Other conditions
1.If it is necessary to increase the verification period and the amount of the Contract, the parties will consider the reasons for the changes, agree on the additional scope of work and their cost in a separate Addendum to the Contract.
6.2.The Contractor guarantees the confidentiality of information (except for publicly available information, as well as cases provided for by legislative acts of the Republic of Belarus or decisions judiciary) about the activities of the Customer.
3.Disputes regarding the execution of the Agreement are resolved through negotiations. Disputes on which the parties have not reached an agreement are subject to consideration in the manner established by law Russian Federation.
4.All changes and additions to this Agreement are valid only if they are made by the parties in writing and signed by authorized persons.
5.This Agreement comes into force from the moment it is signed by the parties and is valid until the parties fully fulfill their obligations.
6.The agreement is drawn up on two sheets, in two copies, one for each party.
Legal addresses
Appendix 8
PROTOCOL
agreeing on a contract price for the provision of audit services
We, the undersigned, on behalf of the Customer, director N.S. Shalamov. _ and on behalf of the Contractor, director of the LLC, we certify that the parties have reached an agreement on the contract price for the provision of audit services in accordance with Agreement No. __19___ dated _01.10.2013 ____
according to the work plan (Appendix 1) in the amount of one hundred eight thousand rubles
The price including VAT will be 108,000 rubles.
This protocol is the basis for mutual settlements between the Contractor and the Customer.
Appendix 9
General audit plan
No. Planned types of work Period of implementation Performer Notes 1 Get acquainted with the financial and economic activities of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" AGAU 07.11 - 08.11 Khrustaleva K.A. 2 Conduct an analysis of accounting policies 09.11 Khrustaleva K.A. 3 Familiarize yourself with the procedure for preparing financial statements 10.11 Khrustaleva K.A. 4Audit of cash transactions 11.11 - 13.11 Khrustaleva K.A. 5Audit of transactions on the current account 14.11 - 16.11 Khrustaleva K.A. 6Reporting the results of the audit 11/17-18/11 Khrustaleva K.A.
Appendix 10
Audit program
p/p List of audit procedures by sections of the audit Period of implementation Performer Working documents Note. 1Analysis of accounting policies07.11-09.11Khrustaleva K.A. Accounting policy of FSUE Uchkhoz "Prigorodnoye" AGAU2 Familiarization with the procedure for preparing financial statements 10.11 Khrustaleva K.A. Accounting statements of the Federal State Unitary Enterprise Uchkhoz "Prigorodnoye" ASAAUAudit of cash transactionsKhrustaleva K.A. Checking the correctness of the documentation of cash transactions 11.11 PKO, RKO, cash book, etc. Checking the correctness, completeness and timeliness of entries in the registers of synthetic and analytical accounting of transactions for the receipt of funds 12.11 Accounting registers. accounting, cards and accounting analyses. accountsChecking the correctness, completeness and timeliness of entries in the registers of synthetic and analytical accounting of transactions for the expenditure of funds 13.11 Accounting registers. accounting, cards and accounting analyses. accounts3Audit of transactions on the current accountKhrustaleva K.A. a) availability of primary documents for transactions 14.11 Invoices for receipt and shipment of goods and materials, payment documents b) reflection on accounting accounts 11/15-16/11 Accounting registers. accounting, cards and accounting analyses. accounts 4 Audit of transactions on a foreign currency account 17.11 Accounting registers. accounting, inventory acts
Introduction
Conclusion
Applications
Introduction
Transactions with funds are typical for absolutely all organizations, regardless of their organizational and legal form. Cash belongs to the most liquid group of working capital. At enterprises, funds are in the form of cash on hand, stored in the bank on current accounts, in special accounts for designated funds, in special accounts, and are also used in the form of letters of credit, check books, deposits and financial investments in securities etc.
Cash characterizes the initial and final stages of the circulation of economic assets, the speed of which largely determines the effectiveness of all business activities. The volume of funds available to an enterprise as the most important means of payment determines the solvency of the enterprise - one of the most important characteristics of its financial position. The important role of funds in ensuring financial and economic activities necessitates the organization of continuous and timely accounting of funds and operations on their movement, monitoring the availability, safety and intended use cash and monetary documents, monitoring compliance with cash discipline. Confirmation of the authenticity of credentials is carried out through audit operations.
This work is devoted to studying the methodology for auditing funds. The relevance of the chosen topic is due to the fact that the correctness, accuracy and timeliness of cash accounting leads to an improvement in the quality of accounting work, clarity in the distribution of funds, which in turn has a positive effect on the work of the entire organization. Payments are made through cash. The timely repayment of the company's accounts payable depends on their availability. An organization's funds exist in two forms: cash and non-cash. Non-cash payments are carried out by transferring funds from the payer's account to the recipient's account using various banking operations, replacing cash in circulation. Therefore, accounting for funds and monitoring their circulation in settlement and foreign currency accounts in banks is of great importance. Internal payments are made in cash. Cash movement is carried out through cash transactions.
Cash is an integral part of current assets. They are necessary for the enterprise to carry out settlements between suppliers and contractors, to make payments to the budget, settlements with credit institutions, to issue wages and bonuses to employees and to make other types of payments.
The purpose of the study is to study the methodology for conducting an audit of funds and develop practical recommendations for improving the accounting of funds using the example of DomService Management Company LLC.
In accordance with the goal, the following specific tasks are formed:
) consider the theoretical aspects of auditing funds as an audit object;
) study the regulatory framework for auditing funds;
) explore the organization and methodology of auditing funds using the example of LLC Management Company "DomServis";
) based on the audit performed, form an opinion on the reliability of the accounting (financial) statements of DomService Management Company LLC in terms of reflecting information about funds;
The subject of the study is the financial and economic activities of the organization within the framework of cash accounting.
cash audit
The object of study was the activities of the limited liability company DomService Management Company in accordance with the direction of the topic of work.
Time interval of the study: 1st half of 2012
The theoretical basis of this work was educational and methodological literature, regulatory sources, as well as materials from periodicals. The work used regulations of the State Duma, the Government of the Russian Federation, the Ministry of Finance, the Ministry of Labor, the Central Bank of Russia, as well as the works of domestic authors such as Belov A.A., Belov A.N., Berdyshev S.N., Babaeva Yu A.A., Veshchunova N.L., Gribanova Z.M., Gribanov A.A., Gusev A.N., Dugin P.I., Dugina T.I., Zuikova L.A., Komisarova I.P. ., Lukyanenko G.I., Lytneva N.A., Malyavkina L.I., Matveeva T.V., Muravitskaya N.K., Polenova S.N., Ponomareva G.A., Rychagova M.A., Stefanova S.N., Sysoeva M.G., Tkachenko I.Yu., Fedorova T.V., Tsybina N.V., Shirobokov V.G.
The solution to the tasks was carried out using the following methods:
traditional methods of information processing: comparison; relative, absolute and average values; graphical and tabular presentation of data;
empirical methods: observation.
The practical basis for writing was primary documents, registers of synthetic and analytical accounting, financial statements of DomService Management Company LLC.
The work consists of an introduction, 3 chapters, a conclusion, a list of sources used, and applications.
Chapter 1. Theoretical aspects of auditing an organization's funds
1.1 Enterprise cash as an audit object
Most types of business transactions of an organization in one form or another are associated with the inflow and outflow of funds. Cash is the most liquid category of assets, which provides the enterprise with the greatest degree of liquidity, and therefore freedom of choice of actions.
In foreign literature, the term “cash” refers to both money directly in the company’s cash desk and in its bank accounts, and cash equivalents. Cash equivalents have been defined by the Accounting Standards Board as short-term, highly liquid investments, typically represented by securities (stocks, Treasury notes, etc.). Such cash equivalents should be freely convertible into cash and subject to insignificant risk of changes in market price. In Russian practice, funds, for the purpose of drawing up a cash flow statement, are defined as amounts of funds in Russian and foreign currencies held at the cash desk, in settlement, foreign currency and special accounts in banks.
The essence of money is that it serves as a necessary active element and component economic activity society, relations between various participants and links in the reproductive process.
The essence of money is manifested in the unity of three properties (see Fig. 1).
Figure 1. Properties of money
Consequently, money that arose from resolving the contradictions of a product (use value and value) is not a technical means of circulation, but reflects deep social relations.
The essence of funds is characterized by their participation in:
-implementation of various types of social relations;
-distribution of gross national product (GNP), in the acquisition of real estate and land. Here the manifestation of the essence is not the same, since the different possibilities of money are explained by different socio-economic conditions;
-determination of prices expressing the cost of goods. The production of goods (provision of services) is carried out by people using tools and objects of labor. Produced goods have a value that is determined by the total volume of the transferred value of tools and objects of labor and the value newly created by living labor.
The essence of money is most fully manifested in its functions. The functions of money are characterized by stability, they are little subject to change, while, for example, the role of money in different conditions may change. The peculiarities of the functions are that in most cases they are carried out only with money. Money acts as: a measure of value; means of circulation; means of payment; means of accumulation. Despite the existence of different interpretations of these functions by different researchers, everyone nevertheless agrees that money performs a number of social functions (see Fig. 2).
Figure 2. Functions of money
Money as a measure of value is used to measure and compare the costs of various goods. The function of money as a measure of value is to assess the value of goods by setting prices. The basis for setting the prices of goods is the amount of their value, which depends primarily on the amount of socially necessary labor spent on the production of goods. When setting the price of the initial value, it is not the individual level of labor costs of an individual commodity producer for the production of goods, but the socially necessary level of costs. Accordingly, socially necessary costs for the production of certain types of goods are fixed in prices. Value expressed in money is price. Selling a product means that it is exchanged for a certain amount of money according to a set price. For this function, the scale of prices that is set by the state is important. As a measure of value, money is homogeneous, which is very important for various economic calculations. To implement this function, there is no need to have money available; it is enough to mentally imagine it. Therefore, money performs the function of a measure of value perfectly.
Performing the function of a medium of exchange, money serves purchase and sale transactions between various economic entities and is accepted for payment for goods and services. The function of money as a measure of value is to assess the value of goods by setting prices. The basis for setting the prices of goods is the amount of their value, which depends primarily on the amount of socially necessary labor spent on the production of goods. When setting the price of the initial value, it is not the individual level of labor costs of an individual commodity producer for the production of goods, but the socially necessary level of costs. Accordingly, socially necessary costs for the production of certain types of goods are fixed in prices. When exchanging goods, they act as an intermediary, which is unconditionally recognized by all economic agents. The fulfillment of this function by money allows one to overcome the time and spatial limitations inherent in natural exchange. It becomes possible to exchange goods produced in different, often distant from each other, areas, as well as with a gap in time.
Cash is often used not for commodity transactions, but when making payments that do not involve receiving any equivalent or conducting an exchange, for example, when paying taxes, receiving and repaying loans, paying pensions and benefits. In these cases, they are used as a means of payment.
The next function of money - a store of value - indicates the possibility of their use not only for measuring value and payment, but also for saving. Business entities do not spend part of the income received on current consumption, but accumulate it in cash for the purpose of using it in the future. The accumulation function is manifested in the ability of money to preserve wealth. Cash savings include cash balances held by individual citizens, as well as cash balances in bank accounts. The formation of cash savings of individual citizens is due to: the excess of their income over expenses, the need to create a reserve for upcoming large and seasonal expenses. The presence of cash savings allows the population to use them in the coming periods to pay for purchased goods and repay various obligations. Money, as a store of value, also consists of balances accumulated by enterprises and organizations in their bank accounts. Money has a relatively more stable value compared to other goods. As such, they should be considered a risk-free asset, unlike securities or other commodities that can lose value at any time. Money has the property of absolute liquidity, preserving instant purchasing power, which characterizes it as the best remedy accumulation.
Money performs the function of a store of value only after leaving the sphere of circulation, having stopped moving for its owner. If this happens with full-fledged money, then we can say that it implements the function of creating treasures. If inferior money comes out of circulation, then it performs this function nominally, providing accumulations and savings.
The function of world money is manifested in settlements and relationships between countries, as well as between legal and individuals located in different countries. In such relationships, money is used to pay for purchased goods, when carrying out credit and other transactions. The function of world money is manifested in relationships between countries or between legal entities and individuals located in different countries. In such relationships, money is used to pay for purchased goods, when making credit and some other transactions. When various countries used full-fledged money that had its own value, no serious complications arose with its use in international relations. Here, the money of individual countries could be used for settlements with other countries, based on the actual value of the monetary unit of each country. Under the conditions of circulation of full-fledged money that had its own value, no serious complications arose with its use in international payments. Here, the money of individual countries could be used in settlements with others based on the actual value of the monetary unit of each country. When the whole world switched to inferior money, payments between countries began to be made using freely convertible currencies, as well as international monetary units (SDR, EURO).
The implementation of almost any management decision by management is based on the use of funds. Cash is also used, as a rule, for capital expenditures. To meet its expenses, the organization must ensure an adequate influx money supply in the form of revenue from the sale of products (works, services), receipt of dividends on invested capital, receipt of temporary borrowed funds, etc.
Money circulation is carried out in two forms (see Table 1).
Table 1
Characteristics of forms money circulation
Characteristics Cash circulation Non-cash circulation Concept Movement of cash in the sphere of circulation when it performs two functions - a medium of exchange and a means of payment Movement of value without the participation of cash by transferring funds to the accounts of credit organizations Served by types of credit instruments of circulation Banknotes, small change (metal) coins, paper money Checks, bills, plastic cards, other credit documents Serve relationships between the population and individual individuals; Legal entities and individuals; Legal entities and the state; Individuals and the state. Legal entities of different forms of ownership; Legal entities and credit institutions; Legal entities and individuals and the state; Legal entities and the population Used in the circulation of goods and services; When making payments when paying wages, bonuses, benefits, insurance benefits under insurance contracts; When paying for securities and income on them; When the population makes payments for utility services For the same purposes, if participants in circulation have money in their accounts in credit institutions
Thus, the activities of the organization are an objective prerequisite for the occurrence of cash flows.
The cash of the enterprise passes through the organization's cash desk. The procedure for storing, spending and accounting for funds at the cash desk is established by Federal Law No. 86-FZ of July 10, 2002 “On the Central Bank of the Russian Federation (Bank of Russia)” (as amended on November 21, 2011 No. 327-FZ). The rule on the organization of cash circulation in the Russian Federation is contained in Article 34 of the Federal Law.
Thus, the essence of money can be characterized by the following features:
) money provides universal equivalence, which means the possibility of purchasing any product;
) money expresses the value of a product and determines its price, and this provides a quantitative comparison of goods with different consumer properties.
In modern market economy Commodity-money relations became universal. This caused full development all functions of money. Currently, all material and spiritual values, as well as people’s ability to work, have a monetary form.
1.2 Purpose, objectives of the audit of funds, methodological techniques and information support for the audit
According to the Federal Law of December 30, 2008 No. 307-FZ “On Auditing Activities” (as amended by the Federal Law<#"justify">-checking compliance with the requirements of the legislation of the Russian Federation for conducting cash payments;
-familiarization with the conditions for storing cash and ensuring its safety;
-studying the correctness of documenting transactions for the receipt and expenditure of funds, maintaining a cash book and recording cash transactions;
-checking compliance with cash discipline, completeness and timeliness of cash receipts to the cash desk;
-compliance with the procedure for issuing and returning accountable amounts to the cash desk, and the intended use of funds received from the bank;
-compliance with the cash limit and established rules for cash settlements with legal entities; determining the legality and expediency of transactions for the receipt and debiting of funds from the bank accounts of the enterprise, the correctness of their reflection in accounting;
-confirmation of the reliability of primary, synthetic and analytical accounting data, etc. .
When carrying out an audit, special attention should be paid to studying not only the regulatory, but also the information support of the audit.
Under information support Cash audit refers to the sources of information used in obtaining audit evidence.
Sources of information used in the audit of funds at DomServis Management Company LLC are presented in Table 2.
The audit method is characterized by the use of general scientific methodological techniques for studying audited objects and its own specific scientific empirical methodological techniques economic research. The composition of audit procedures is regulated by the Federal Standard on Auditing (FSAD 7/2011) “Audit Evidence”, approved by Order of the Ministry of Finance of the Russian Federation dated August 16, 2011 No. 99n.
table 2
Sources of information used in the audit of cash transactions at LLC Management Company "DomServis"
No. Form of documentName of document1 Standard (unified) documents serving as the basis for recording cash flows in accounting - Accounting policies (Appendix 2); chart of accounts (Appendix 3); cash receipt order form No. KO-1 (Appendix 4,5,6); expense cash order form No. KO-2 (Appendix 7,8,9); journal for registering incoming and outgoing cash documents, form No. KO-3; cash book form No. KO-4 (Appendix 14); payment order(add.10,11) bank statements; advance report No. AO-1 (Appendix 12); payroll No. T-53 (Appendix 13). announcements for cash contributions form 0402001;. 2Accounting registers used to reflect business transactions for the accounting of cash and non-cash funds - Analysis of accounts 50 "Cash", 51 "Cash accounts", 57, 60, 62, 70, 71, 73, 76, 90, 91 (Appendix 15 , 20); Account card 50 “Cashier” (Appendix 10), 51 “Cash Accounts” (Appendix 16,21); Journal-order and statement of account 50 "Cash" (Appendix 17), 51 "Settlement accounts" (Appendix 22); Account turnover (General Ledger) 50 "Cash", 51 "Cash accounts", 60, 62, 70, 71, 73, 76, 90, 91 (add. 18,23); Back - balance sheet (Appendix 25). 3Standard (unified) acts drawn up when conducting an inventory of cash - Cash Inventory Act, form No. INV-15; Order (instruction) to conduct an inventory, form No. INV-224 Financial (accounting) statements - Balance sheet (Appendix 26); Gains and losses report; Cash flow statement
Audit evidence is information obtained by the auditor during an audit that confirms or does not confirm the premises for the preparation of financial statements and on the basis of which the auditor draws conclusions that form the basis for forming an opinion on the reliability of the financial statements.
Audit evidence includes:
a) documents and accounting information of the audited entity;
b) information obtained from other sources. In particular: information obtained during the previous audit (provided that the auditor is satisfied that there are no changes since the end of the previous audit that could affect the applicability of this information for the purposes of the current audit), etc. .
When starting to audit transactions with funds, it is advisable for the auditor to obtain, if possible, complete information about the state of internal control in this area of accounting. Often, funds, both cash and non-cash, are the object of theft and abuse by the cashier, accountant and other officials. You can find out how strictly cash transactions are controlled and how clearly the authorization of various payments from the company’s current account is ensured by performing the following substantive verification procedures:
) inspection;
) observation;
) confirmation;
) recalculation (checking the arithmetic calculations of the audited entity);
) analytical procedures. In accordance with the Federal Standard on Auditing (FSAD 7/2011) “Audit Evidence”, approved by Order of the Ministry of Finance of the Russian Federation dated August 16, 2011 No. 99n, we have compiled Table 3.
Table 3
Methodological techniques used for auditing funds
No. Name of method Essence of the method 1 Inspection Inspection is a check of records, documents or tangible assets. During the inspection of records and documents, the auditor obtains audit evidence of varying degrees of reliability depending on its nature and source. 2ObservationObservation is the auditor's monitoring of a process or procedure performed by others (for example, the auditor's observation of inventory counts performed by employees of the entity being audited, or monitoring the performance of internal control procedures for which no documentary evidence remains to be audited). 3 Inquiry An inquiry is a search for information from knowledgeable persons within or outside the entity being audited. A request on the form can be either a formal written request addressed to third parties or an informal oral question addressed to employees of the audited entity. Answers to inquiries (questions) may provide the auditor with information that he did not previously have or that supports audit evidence. 4ConfirmationA confirmation is a response to a request for information contained in accounting records (for example, the auditor typically requests confirmation of accounts receivable directly from the debtors). To obtain information about the reality of balances in cash accounts, settlement accounts, accounts receivable and accounts payable, the audit organization must obtain confirmation in writing from an independent party. Requests for confirmation are recommended to be prepared in the form of a document on behalf of the organization's management addressed to an independent party, which contains a requirement to provide the necessary information directly to the audit organization. If necessary, the audit organization can independently establish contact with the independent organization to which the confirmation request was sent. In case of discrepancies between the received information and the accounting data of the economic entity, it is necessary to apply additional audit procedures to determine the reasons for the discrepancy. 5RecalculationRecalculation is a check of the accuracy of arithmetic calculations in source documents and accounting records or the auditor performing independent calculations. Verifying the arithmetic accuracy of source documents and accounting records and performing independent calculations; as a rule, is carried out selectively6Analytical proceduresAnalytical procedures represent the analysis and assessment of information received by the auditor, the study of the most important financial and economic indicators of the audited entity in order to identify unusual and (or) incorrectly reflected business transactions in the accounting records, identifying the causes of such errors and distortions.
The duration of these procedures depends, in particular, on the period allotted for obtaining audit evidence.
Thus, the significance of audit procedures is quite high, since it is through the implementation of these procedures that the main goal of the audit is achieved - forming an opinion on the reliability of the organization’s reporting.
1.3 Regulatory support for cash audit
Regulatory regulation of accounting is the establishment by government bodies of generally binding rules (norms) for accounting and preparation of financial statements.
Regulatory regulation of cash accounting includes:
) normative legal regulation - carried out by the rules of law contained in the relevant normative legal acts;
) methodological (normative and technical) regulation - carried out by methodological (technical) standards contained in the relevant acts of a methodological (normative and technical) nature.
Also, an important role in the implementation of regulatory regulation of cash accounting belongs to the accounting policy of the organization and explanatory acts of the Ministry of Finance of Russia.
Currently, the system of regulatory regulation of cash accounting in Russia has a four-level structure.
The first level consists of laws and other legislative acts (presidential decrees, government resolutions) that directly or indirectly regulate accounting in organizations (Appendix 1).
The second level of the regulatory system consists of accounting provisions (standards). These documents summarize the principles and basic rules of accounting, outline the basic concepts related to individual areas of accounting, and possible accounting techniques without disclosing a specific mechanism for applying them to a specific type of activity. Second-level documents are approved by the Ministry of Finance of the Russian Federation, which is entrusted with methodological management of accounting and reporting in national economy for the country as a whole (Appendix 1).
The third level of regulatory regulation is represented by regulatory documents, which are essentially by-laws, which are presented in the form of guidelines for accounting, including instructions, recommendations, etc. This group of documents includes guidelines for accounting of inventories, guidelines for inventory of property and financial obligations, for filling out accounting reporting forms, etc. One of the most important documents at this level is the Chart of Accounts and instructions for its use. These also include numerous instructions from the Ministry of Finance of the Russian Federation on issues arising in the economic activities of organizations (agreement on joint activities, bills of exchange, net assets, etc.). Documents at this level are approved by both the Ministry of Finance of the Russian Federation and other governing bodies that legally appropriate rights have been granted (for example, by the Central Bank of Russia, the Ministry of Taxes and Duties of the Russian Federation, etc.) (Appendix 1).
The fourth level consists of orders, guidelines, instructions that are issued by business entities themselves and which disclose the basic and regulatory provisions established in regulatory documents of levels 1-3, taking into account the characteristics and specifics of the activities of a particular organization.
An example of such regulatory documents are orders concerning the accounting policies of an organization, methods of evaluation and depreciation of certain accounting objects, documents and document flow, etc. The peculiarity of documents of the fourth level is that the recommendations and methodological provisions contained in them cannot contradict regulatory documents of levels 1-3 (Appendix 1).
Auditing activities in Russia are organized taking into account the experience that has developed in world practice, in which two different concepts for regulating auditing activities can be distinguished.
The first has become widespread in European countries such as Austria, Spain, France, and Germany. Here, auditing activities are strictly regulated by administrative authorities. They are actually entrusted with the functions of state control over auditing activities.
The second concept is typical for English-speaking countries (USA, UK), where auditing activities are, in a certain sense, self-regulated. Audit in these countries is focused mainly on the needs of shareholders, investors, creditors and other business entities. Auditing activities in these countries are regulated primarily by public audit associations.
Audit in our country is in its infancy. Numerous problems are present in all its spheres. First of all, this affects the regulation of internal work of audit firms, government regulation such activities and its standardization, improvement of certification systems.
The system of regulatory regulation of activities in the field of audit adopted in Russia has five levels:
The first level is the law “On auditing activities”<#"center">Chapter 2. Planning an audit of funds of DomService Management Company LLC
2.1 Organizational and economic characteristics of the activities of DomServis Management Company LLC
The object of research in the final qualifying work is the limited liability company Management Company "DomService". The management company LLC UK "DomServis" is a legal entity, has been operating since 2009, has an independent balance sheet and a bank account. The Company carries out its activities in the city of Yaroslavl in the field of operation and management apartment buildings, guided by the laws and regulations of the Russian Federation, the Yaroslavl region and the city of Yaroslavl.
The scope of the Company's services extends to housing stock, both in state and municipal ownership and in private property. The Company's activities are carried out on the basis of the Charter.
The presence of many owners of premises in an apartment building, connected by the need to live in it, necessitates the organization of an effective process for managing an apartment building and, accordingly, the organization of joint ownership and use of common property.
Only applying a professional approach to management real estate allows to significantly increase its efficiency in the interests of owners and users of this real estate. Within the framework of a professional property management system, there is inevitably a separation between the functions of the owner and manager. The owner retains the functions of making strategic decisions and the functions of quality control of management, and the functions of operational management of the property are delegated to the management company.
The management company LLC UK "DomServis" has been providing comprehensive utility services for four years. In organizing the maintenance and management of real estate, the principle of territoriality is used, which makes it possible to ensure high-quality and prompt provision of services. Activity Management company LLC Management Company "DomService" is aimed at creating and ensuring favorable and safe living conditions for citizens, proper maintenance of common property in an apartment building, resolving issues of using this property, as well as providing utilities residents of the house.
With the arrival of a new team of like-minded people in August 2009, the Company received a new impetus in its development. The priority in the work was to provide a full range of services for managing an apartment building. To work as efficiently as possible for the benefit of clients, the strength, knowledge and experience of all Company employees were combined and an individual approach to each resident was used. Currently, the Company extends its range of activities to the Frunzensky, Kirovsky, Leninsky, Dzerzhinsky and Krasnoperekopsky districts of the city of Yaroslavl.
The main activities of the Management Company LLC UK "Dom Service" are:
-acceptance of buildings for operation from the developer;
-coordination and execution of necessary documents for connecting utility systems of real estate objects according to a permanent scheme;
-a full range of technical maintenance of building engineering systems: heating, water supply, air conditioning and ventilation, elevator maintenance, maintenance of collective television and radio reception systems;
-emergency elimination of emergency situations at real estate sites;
-charging and collecting fees for living space and utilities with provision to property owners payment documents(invoice receipts), as well as settlements with housing and communal services suppliers;
-passport and registration services;
-work to prevent and reduce the debt of property owners on established payments for utilities, for the maintenance and repair of common property apartment building;
-providing the owners of premises with the necessary information and reporting to them;
-sanitary maintenance of common areas;
-ensuring sanitary and epidemiological safety of buildings;
-cleaning of adjacent areas and services for its improvement;
-waste removal and disposal;
-ensuring the security of residential and non-residential buildings;
-work services cadastral registration;
-assistance to residents in creating an HOA.
The history of the Management Company LLC UK "DomServis" lasts more than 4 years and all this time, the basis of its activity has been and remains concern for residents living in apartment buildings, their safety of residence, comfort and cleanliness in the maintenance of common property. Therefore, at the center of everything that the company does is a person and, first of all, the company’s employees take an individual approach to each resident and strive to meet the highest requirements for the quality of service and management of an apartment building.
Today, the Management Company LLC UK "DomServis" is a dynamically developing company in the field of management of apartment buildings, including a full range of management and maintenance services, ranging from acceptance of buildings into operation to carrying out work on major renovation.
Based on the results of an assessment of the quality of work of management companies in the city of Yaroslavl for the second half of 2011, carried out by the department of municipal services of the mayor's office of the city of Yaroslavl, the management company LLC Management Company "DomService" received the highest assessment of the quality of the company's work among all management companies in the city. The management company LLC UK DomServis is recommended by resource supply organizations as a reliable and responsible counterparty that makes timely payments for utility resources supplied to residents.
The range of services for maintaining a property provided by the Company in comparison with other similar organizations is the most complete and includes:
.Maintenance, maintenance, repair and modernization of apartment buildings and buildings;
2.Sanitary maintenance of common areas and landscaping of the local area;
.Ensuring residential safety;
.Management services (legal, accounting and organizational services for apartment buildings, both under direct management and in HOAs, development optimal schemes property management, tax accounting, specialized software).
The implementation of this list of services is possible only if there is an appropriate organization of the Company. Figure 3 shows the structure of the Management Company LLC Management Company "DomServis".
Figure 3. Structure of the Management Company of DomServis Management Company LLC
Thus, we can conclude that the Company’s production and financial activities involve many of its own interconnected organizational, labor, material and financial resources. If necessary, if in the course of performing a range of services by the Company, situations arise when there is a need to perform a number of works, the specificity and complexity of which do not allow them to be carried out on their own, the Company enters into contracts and, based on the results of their implementation, a certificate of completion is issued.
Organizational structure An enterprise is an ordered set of steadily interconnected elements that ensure the functioning and development of the organization as a single whole. The structure of an enterprise is also defined as a form of division and cooperation of management activities, within the framework of which the management process is carried out according to the relevant functions aimed at solving the assigned tasks and achieving the intended goals. From these positions, the management structure is presented in the form of a system of optimal distribution of functional duties, rights and responsibilities, order and forms of interaction between its constituent management bodies and the people working in them.
The organizational structure of DomService Management Company LLC is linear-functional. Line managers are the sole commanders, and they are assisted by functional bodies. The elements of the structure are individual employees and services of the management apparatus; the relationship between them is maintained through connections that can be linear and functional.
Linear connections reflect the movement of management decisions and information between line managers, i.e. persons who are fully responsible for the activities of the organization or its structural divisions.
Functional connections take place along the flow of information and management decisions for certain management functions.
The General Director organizes the work and effective interaction of all structural divisions, directs their activities to the development and improvement of production.
The specifics of the activity involve the identification of an economic block in finance, dealing with issues of economic justification of tariffs for housing and communal services. Tariffs for housing and communal services for the population are a system of payment rates for housing and utilities, valid for the entire population of the municipality ( settlement), which are used to make payments for housing and communal services.
An economically justified tariff for housing and communal services is the amount of payment for the maintenance and repair of housing or the provision of utility services, ensuring the minimum required level of reimbursement of costs for expanded reproduction, taking into account the program for the development of housing and communal services facilities adopted by the owner while observing quality standards of services.
Economically justified tariffs represent the objective level of the equilibrium price of supply and demand. At the same time, demand is determined by the needs for the volume and quality of services, the confirmed capabilities of the municipal budget and the income of the average family. The proposal characterizes the tariff value that ensures reimbursement of the costs of housing and communal services organizations for expanded reproduction with the required volume of work.
The main goals of introducing economically justified (planned and calculated) tariffs and increasing the objectivity of their formation are:
-protecting the interests of consumers, including the population, during the transition of the industry to break-even operating mode, preventing unreasonable increase in tariffs;
-ensuring rational budget planning of municipalities and regions;
-creation of a mechanism for regulating prices for services of housing and communal services organizations - natural monopolists in local commodity markets by controlling the level of costs and profits, using “fair market prices” when concluding service contracts;
-creation of price benchmarks in the context of eliminating cross-subsidies in the provision of utility services to industrial consumers and the population, reducing inflated tariffs for industrial consumers.
When selling utility services at tariffs below cost, MP Housing and Communal Services receives a loss, for the repayment of which compensation is sent in the form of budgetary allocations in accordance with budget classification. In particular, this budget resources, allocated to:
-compensation of electricity tariffs;
-the amount of benefits provided to certain categories of the population for payment for housing and communal services;
-reimbursement of the difference between tariffs for services and costs of enterprises of municipal housing and communal services, municipal services, providing social facilities of municipal property with heat and energy resources, etc.
Accounting collects, groups and summarizes information about the economic activities of DomServis Management Company LLC, as well as settlements with buyers, customers, suppliers, etc. The chief accountant is the deputy general director; the accounting department of DomService Management Company LLC is subordinate to the chief accountant.
The main functions of key positions in the financial service of the enterprise are presented in Table 4.
Table 4
Main functions of key positions
Chief Accountant General Director Determination of the optimal composition and structure of assets and liabilities. Actions for the survival of a company in a competitive environment Development of a balanced policy that takes into account the strategic and tactical interests of owners, investors, employees. Implementation of measures to avoid bankruptcy and major financial failures Monitoring the activities of the enterprise Leadership in the fight against competitors Managing solvency Maximizing the “price” of the company Managing financial stability Acceptable growth rates of the economic potential of the company Managing economic efficiency Growing sales volumes Managing the rhythm of payment transactions Maximizing profits Factoring Minimizing expenses Cash flow management Ensuring profitable activities
The enterprise also adopted the Accounting Regulations, which set out the basic qualification requirements for the chief accountant. According to the Regulations on Accounting, a specialist with at least five years of experience in accounting, a higher economic education and a certificate of a professional accountant, as well as other requirements, can be hired as chief accountant at DomServis Management LLC. It is indicated which documents are signed (approved or endorsed) by accounting employees, in particular by the chief accountant.
Accounting at LLC Management Company "DomServis" is carried out using an automated accounting form. LLC Management Company "DomService" uses the following programs: "1C: Enterprise - Accounting, edition 7.7".
This program is a universal system for automating accounting. It can support various accounting systems, various accounting methodologies, and be used in enterprises of various types of activities.
The program has a unified mechanism for creating reports and working with them. This includes standard, custom and regulated reports.
The balance sheet is one of the regulated ones.
The basis for entries in the accounting registers of DomServis Management Company LLC are primary documents recording the fact of a business transaction, as well as accounting calculations.
Primary documents are accepted for accounting by DomServis Management Company LLC if they are compiled according to unified forms approved by the State Statistics Committee of the Russian Federation. Forms of primary documents for internal accounting reporting are developed and approved by the enterprise independently.
Thus, the organization and maintenance of accounting in LLC Management Company "DomServis" is carried out in accordance with regulatory documents included in the system of regulatory regulation of accounting in the Russian Federation.
2.2 Assessing the internal control system
When planning and conducting an audit of funds in DomService Management Company LLC, it is necessary to use Federal Rule FSAD 9/2011 “Features of the audit of a separate part of the statements”, approved by Order of the Ministry of Finance of the Russian Federation dated August 16, 2011 No. 99n.
This federal auditing standard defines the requirements for the procedure for an audit organization, an individual auditor (hereinafter referred to as the auditor) to audit a separate part (separate parts) of accounting (financial) statements or reports prepared according to special rules (hereinafter referred to as a separate part of the statements).
When conducting an audit of a separate part of the statements, the auditor must follow the ethical requirements mandatory for performing audit assignments of accounting (financial) statements, including independence, as well as all federal auditing standards applicable to the audit, regardless of whether he conducts simultaneously auditing the accounting (financial) statements as a whole. In the event that the auditor does not audit the accounting (financial) statements as a whole, he must determine whether it is possible to audit a separate part of the statements in accordance with federal auditing standards.
When conducting an audit of a separate part of the statements, the auditor must determine:
a) whether the application of the rules for drawing up this part of the reporting leads to adequate presentation and disclosure of information, enabling intended users of a separate part of the reporting to understand both the information contained in this part of the reporting and the impact on this information of material facts of the economic life of the audited entity;
b) whether the intended form of expression of the auditor's opinion would be appropriate in the circumstances of the audit engagement.
In planning and executing the engagement, the auditor should determine whether any special considerations arise in the application of the requirements of a particular standard. For example, instead of written statements and explanations from the management of the audited entity regarding the accounting (financial) statements, when conducting an audit of a separate part of the statements, the auditor must receive statements and explanations from the management of the audited entity regarding a separate part of the statements.
Planning is the initial stage of the audit, during which the scope and timing of the audit are determined, an audit plan and program is developed, which determines the types and sequence of audit procedures. That is, they determine the strategy and tactics of the audit. Planning is carried out in accordance with Rule (standard) No. 3 Audit planning dated September 23, 2002 No. 696 (as amended by the Resolution<#"justify">RD 1. Test questionnaire for assessing internal control systems in terms of cash transactions
ContentsAnswersYesNoNotes12341. Are the security conditions for storing funds met? ´ Safes, security2. Does the equipment of the cash register premises comply with the requirements of the Regulations for Conducting Cash Operations? ´ No separate room3. Is there an alarm installed at the cash register? ´ 4. Is the cash register room equipped with a fireproof cabinet (safe)? ´ 5. Where and who keeps duplicate keys to the cash register safe? Stored with cashiers Accounted duplicate keys are stored with the director6. Does the order on accounting policy establish the frequency of cash inventory? ´ 7. Is a commission appointed by order of the manager to conduct an inventory of the cash register? ´ 8. Is a cash register inventory carried out when a cashier changes? ´ 9. Does the chief accountant take part in the cash inventory? ´ 10. Does the company have cash registers? ´ 11. Did the cashiers change at the company during the period under review? ´ 12. Is there a limit for storing funds in the cash register? ´ 13. Are cash payments made to legal entities? ´ 14. Is there a document for the enterprise that approves the circle of persons who have the right to sign documents on transactions with funds? ´ 15. Have agreements on full liability been concluded with persons responsible for storing funds? ´ 16. Who has the right to sign incoming and outgoing cash orders as the chief accountant? Chief accountant17. Are unified forms of primary accounting documents used when processing cash transactions? ´ 18. Who issues primary cash documents Accountant 19. Were funds issued with the presence of the 1st signature (manager, chief accountant)? ´ 20. Does the company maintain a cash book? ´ 21. Number of cash books at the enterprise One22. Who keeps the cash book? Accountant23. How are the cashier's reports regularly transferred to the accounting department and checked by the chief accountant? Daily24. Does the enterprise keep a log of cash receipts and expenditures? ´ 25. When issuing money for business needs, is there a period for which it is issued? ´ 26. Is the safety of funds ensured when delivered from the bank? ´ 27. Is the cashier accompanied when depositing and receiving funds at the bank? ´ Security28. During the period under review, were any fines imposed on the manager and officials for failure to comply with cash discipline? ´ 29. Does the company have the necessary documentation to open a current account? ´ 30. Are conditions provided for control over relevant source documents? ´ 31. Does the company use specific forms of payment? ´ 32. Are there any unusual or complex transactions using the current account? ´ 33. Are the rules for storing bank documents and strict reporting forms observed? ´ Complies with established requirements
During the assessment of the internal control system, 24 positive answers were received out of 33, i.e. more than 70% (24/33*100 = 75%), therefore, the internal control system in the cash accounting area can be considered effective.
The auditor's assessment of the effectiveness of the internal control system is necessary to assess and plan the scope of the audit. If the internal control system is assessed as effective, then it becomes possible to reduce the scope of the audit, and in some cases, not carry it out at all, trusting the internal control system.
In relation to the audited enterprise LLC Management Company "DomServis", based on these tests - questionnaires, we can conclude that the enterprise has a fairly effective internal control system, however, there are some shortcomings that require elimination.
2.3 Calculation of the level of materiality of an enterprise
According to Auditing Rule (Standard) No. 4 “Materiality in an Audit,” the audit organization and the individual auditor (hereinafter referred to as the auditor) in the audit process are required to assess materiality and its relationship with audit risk.
During audits, audit organizations should not establish the reliability of reporting with absolute accuracy, but are required to establish its reliability in all material respects.
During the audit process, the audit organization and the individual auditor are required to assess the materiality of information and its relationship with audit risk.
Information about individual assets, liabilities, income, expenses and business transactions, as well as components of capital, is considered material if its omission or distortion could affect the economic decisions of users made on the basis of financial (accounting) statements. Materiality depends on the size of the financial (accounting) reporting indicator and/or error, assessed in the event of their absence or distortion.
The auditor evaluates what is material using his or her professional judgment.
When developing the audit plan, the auditor establishes an acceptable level of materiality in order to identify material (from a quantitative point of view) misstatements. However, both the magnitude (quantity) and nature (quality) of misstatements must be taken into account. Examples of qualitative distortions are:
insufficient or inadequate description of the accounting policy, when there is a likelihood that the user of the financial (accounting) statements will be misled by such a description;
failure to disclose information about a violation of regulatory requirements when there is a likelihood that the subsequent application of sanctions could have a significant impact on the audited entity's results of operations.
The auditor needs to consider the possibility of misstatements in relation to relatively small amounts, which in the aggregate could have a significant effect on the financial (accounting) statements. For example, an error in a month-end procedure may indicate a possible material misstatement that would arise if the error were repeated each month.
The auditor considers materiality both at the level of financial (accounting) statements as a whole, and in relation to the balance of funds in individual accounting accounts of groups of similar transactions and cases of information disclosure. Materiality may be influenced by regulatory legal acts of the Russian Federation, as well as factors related to individual accounting accounts of financial (accounting) statements and the relationships between them. Depending on the aspect of the financial (accounting) statements being considered, different levels of materiality are possible.
The auditor should consider materiality when:
determining the nature, timing and scope of audit procedures;
assessing the consequences of misstatements.
When planning an audit, the auditor considers what could cause a material misstatement of the financial (accounting) statements. The auditor's assessment of materiality related to individual accounting accounts and groups of similar transactions helps the auditor decide, for example, the question of which financial statements to check, as well as the use of sampling and analytical procedures. This allows the auditor to select audit procedures that are expected to collectively reduce audit risk to an acceptably low level.
There is an inverse relationship between materiality and audit risk: the higher the level of materiality, the lower the level of audit risk, and vice versa. The inverse relationship between materiality and audit risk is taken into account by the auditor when determining the nature, timing and scope of audit procedures. For example, if, after planning specific audit procedures, the auditor determines that the acceptable level of materiality is lower, then audit risk increases. The auditor compensates for this either by reducing the previously assessed level of control risk where possible and maintaining the reduced level by performing enhanced or additional tests of controls, or by reducing the risk of undetected misstatements by changing the nature, timing and extent of planned substantive procedures.
The assessment of materiality and audit risk at the initial planning stage may differ from such assessment after summing up the audit procedures. This may be caused by a change in circumstances or a change in the auditor's awareness of the audit results. For example, if the audit is planned before the end of the reporting period, the auditor can only forecast the results of business activities and the financial position of the audited entity. If actual results of operations and financial position differ significantly from those projected, the assessment of materiality and audit risk may change. In addition, the auditor, when planning his work, may deliberately set the acceptable level of materiality at a level lower than that intended to be used to evaluate the audit results. This may be done to reduce the likelihood of misstatements not being detected, as well as to provide the auditor with some degree of security in assessing the consequences of misstatements discovered during the audit.
When assessing the reliability of financial (accounting) statements, the auditor should determine whether the totality of uncorrected misstatements identified during the audit is material.
The totality of uncorrected misstatements includes: specific misstatements identified by the auditor, including the results of uncorrected misstatements identified during the previous audit; the auditor's best estimate of other misstatements that cannot be specifically identified (ie, foreseeable errors).
If the auditor concludes that misstatements may be material, he or she must reduce audit risk by performing additional audit procedures or require management to amend the financial statements. Management has the right to amend the financial (accounting) statements taking into account identified misstatements.
If the management of the audited entity refuses to amend the financial (accounting) statements, and the results of extended (additional) audit procedures do not allow the auditor to conclude that the aggregate of uncorrected misstatements is not material, the auditor should consider appropriately modifying the auditor's report.
If the aggregate of undetected misstatements identified by the auditor approaches the materiality level, the auditor needs to determine whether it is probable that the undetected misstatements, considered together with the aggregate of detected but uncorrected misstatements, may exceed the materiality level determined by the auditor. Consequently, as the aggregate uncorrected misstatements approach materiality, the auditor considers mitigating the risk by performing additional audit procedures or requiring management to amend the financial statements to reflect the identified misstatements.
When finding the absolute value of the level of materiality, the auditor must take as a basis the most important indicators characterizing the reliability of the reporting of the economic entity subject to the audit. When calculating the level of materiality, we use the methodology of N.Yu. Slatetskaya. .
Calculation of the level of materiality of the error in DomServis Management LLC in tables 6 and 7. We use the enterprise’s reporting data.
In this case, when determining the level of materiality, reporting data for the 1st half of 2012 (Appendix 26) is taken, since the period under review is the 1st half of 2012.
Table 6
RD 2. Calculation of the materiality level in DomServis Management LLC
Name of the basic indicator Value of the basic indicator, thousand rubles. Share, %Value used to find the level of materiality, thousand rubles. 1234 Sales revenue 3516551758.3 Gross profit 85512102.6 Balance sheet currency 23781424756.3 Liabilities of the enterprise 237002511850.1 Total costs 343102686.2
Let's calculate the level of significance of the error in DomService Management Company LLC. To do this, we find the average value of the indicators in column 4 of table 6:
(1758.3+102.6+4756.3+11850+6860.2) /5 = 3830.7 thousand rubles.
The auditor analyzes the numerical values recorded in column 4. He can discard values that deviate greatly both upward and downward. The permissible level of deviations from the average value is set at 70%.
Since the value of the share of gross profit and liabilities indicators deviates greatly from the average, these values are not taken to calculate the level of materiality. Then we determine the level of materiality:
(1758.3+4756.3+686.2) /3 = 2400 thousand rubles.
Table 7
RD 3. Calculation of the level of materiality in LLC Management Company "DomServis" in relation to balances on individual accounting accounts
Name of the balance sheet item Value of the indicator Share of the item in the total volume of selected indicators, % Level of materiality in relation to the balances of individual accounts Balance sheet asset Intangible assets 00.00 Fixed assets 300.00 Inventories 137755.8139 VAT 5440.25 Accounts receivable 122305.1123 Financial investments 21123388.82132 Money capital 10.00 Total 237814100.02400 Balance sheet liabilities Authorized capital 100.00 Retained earnings (uncovered loss) 8020.38 Borrowed funds 10067942.31016 Accounts payable 13659457.41378 Total 237814100.02400
Thus, a certain unified level of materiality in DomServis Management LLC is 2,400 thousand rubles.
2.4 Drawing up an audit plan and program
The next planning stage is the development of an overall audit plan. At this stage, individual sections of the general plan are discussed with the director of DomService Management Company LLC in order to increase the efficiency of the upcoming audit and coordinate audit procedures.
Audit planning is carried out on the basis of Rule (standard) No. 3 of auditing activities “Audit planning”.
The overall audit plan is documented and describes the expected scope and procedure for conducting the audit.
When developing a general cash audit plan for DomService Management Company LLC, it is necessary to take into account:
a) activities of the audited entity, including: general economic forces and industry conditions affecting the entity's activities; characteristics of the audited entity, its activities, financial condition, requirements for its financial (accounting) or other reporting, including changes that have occurred since the date of the previous audit; general level of management competence;
b) accounting and internal control systems, including: accounting policies adopted by the audited entity and its changes; the impact of new regulatory legal acts in the field of accounting on the reflection in the financial (accounting) statements of the results of the financial and economic activities of the audited entity;
c) the nature, timing and extent of procedures, including: the relative importance of various sections of accounting for the audit; the impact on the audit of the presence of a computer accounting system and its specific features; the existence of an internal audit unit of the audited entity and its possible influence on external audit procedures;
d) other aspects, including: features of the contract for the provision of audit services and legal requirements; the form and timing of preparation and submission of a written report to the audited entity in accordance with the law, rules (standards) of auditing activities and the conditions of a specific audit assignment.
Based on the results of the test questionnaire, a general plan was drawn up for conducting an audit of cash accounting at DomServis Management LLC (see Table 8).
Table 8
RD 4. General plan for the audit of funds of DomServis Management Company LLC
Audited organization LLC Management Company "DomService" Audit period from 01/1/12 to 06/30/12 Number of hours 20 Accepted level of materiality 2400 thousand rubles. Head of the audit team Planned types of work Period of implementation Performer 1. Audit of compliance with the provisions of accounting policies regarding the accounting of funds November 21, 2012 Novozhilova D. 2. Audit of documentation and correctness of procedures for performing transactions with funds November 22, 2012 Novozhilova D. 3. Audit of the correctness of recording transactions with funds in accounting accounts23 .11.12 Novozhilova D. 4. Audit of data identity of synthetic and analytical accounting and financial statements of the enterprise November 24, 2012 Novozhilova D.
Once the overall audit plan has been formulated, the auditor needs to establish and document an audit program that defines the nature, timing and extent of the planned audit procedures necessary to implement the overall audit plan.
An audit program is a set of instructions for the auditor performing the audit and a means of monitoring and verifying that the work is being carried out properly.
In preparing the audit program, the auditor is required to consider the auditor's assessment of inherent and control risk, the required level of assurance to be provided in substantive procedures, the timing of tests of controls and substantive procedures, and the coordination of any assistance. , which is expected to be received from the audited entity, as well as the involvement of other auditors or experts.
In accordance with the general audit plan presented above, an audit program was developed for accounting for cash transactions at DomServis Management Company LLC (see Table 9).
Table 9
RD 5. Cash audit program at LLC Management Company "DomServis"
Audited organization LLC Management Company "DomService" Audit period from 01/1/12 to 06/30/12 Number of hours 20 Accepted level of materiality 2400 thousand rubles. Head of the audit team List of audit proceduresDateAuditorInspected documents, objects RD of the auditor 1. Audit of compliance with the provisions of the accounting policy in terms of accounting for funds 1.1 Checking the presence of the necessary elements of the Accounting Policy of LLC Management Company "DomServis" regarding transactions with funds 11/21/12 Novozhilova D. Accounting policy RD 62. Audit of documentation and correctness of procedures for transactions with funds means 2.1 Compliance with regulatory requirements for the equipment of the cash register premises 22.11.12 Novozhilova D. -RD 72.2 Compliance of the actual amount of money in the cash register of LLC Management Company "DomServis" with the established limit 22.11.12 Novozhilova D. Accounting policy, cash book RD 82.3 Checking the correctness of the cash book of LLC Management Company " DomServis" for the 1st half of 2012. 11/22/12 Novozhilova D. Cash book RD 92.4 Checking the correctness of transferring the balance from one page to another of the cash book LLC Management Company "DomServis" 11/22/12 Novozhilova D. Cash book RD 102.5 Checking the correctness and completeness of the entry of funds into cash register for the 1st half of 2012 11/22/12 Novozhilova D. Cash book, Cash documents RD 112.6 Execution of an agreement with the bank for settlement and cash services LLC Management Company "DomServis" 11/22/12 Novozhilova D. Agreement with the bank for settlement and cash services RD 122.7 Procedure and deadlines for delivery revenue to the bank, days of payment of wages to LLC Management Company "DomService" November 22, 2012 Novozhilova D. Agreement with the bank for cash settlement services RD 132.8 Procedure for the delivery of cash funds LLC Management Company "Management Company "DomServis" to OJSC "Northern Bank of Sberbank of Russia" and from OJSC "Northern Bank of Sberbank of Russia" 11/22/12 Novozhilova D. Collection documents RD 14 Checking the presence of bank statements and the absence of erasures and corrections in them 11/22/12 Novozhilova D. Bank statements RD 15 Checking the compliance of bank statements and supporting documents 11/22/12 Novozhilova D. Bank statements, Cash documentsRD 16Checking bank statements for the presence of a bank stamp on acceptance of documents for processing11/22/12 Novozhilova D. Bank statementsRD 173. Audit of the correctness of the reflection of transactions with funds in accounting accounts 3.1 Checking the correctness of the correspondence of accounts reflecting transactions with funds in LLC Management Company "DomService" 11/23/12 Novozhilova D. Registers of synthetic and analytical accounting RD 183.2 Checking the completeness and correctness of reflection in the accounting records of the receipt of funds to the cash desk 23.11.12 Novozhilova D. Registers of synthetic and analytical accounting RD 193.3 Checking the completeness and correctness of the reflection in the accounting records of the payment of wages23. 11.12 Novozhilova D. Registers of synthetic and analytical accounting RD 203.4 Verification of the completeness and correctness of reflection in the accounting records of the issuance of funds on account 23.11.12 Novozhilova D. Registers of synthetic and analytical accounting RD 214. Audit of the identity of synthetic and analytical accounting data and financial statements of the enterprise 4.1 Identity verification records of registers of synthetic and analytical accounting for accounts 51, 50 as of 06/30/12 11/24/12 Novozhilova D. Registers of synthetic and analytical accounting RD 224.2 Verification of the identity of the records of the Turnover Balance Sheet and the Balance Sheet of LLC Management Company "DomServis" as of 06/30/12 24.11.12 Novozhilova D . Turnover sheet, Balance sheet RD 23
Thus, in the second chapter, planning was carried out for the audit of cash transactions of DomService Management Company LLC. Based on the stated audit program, we will conduct an audit of cash transactions at DomServis Management Company LLC.
Chapter 3. Audit of funds of LLC Management Company "DomServis"
3.1 Audit of compliance with accounting policies regarding cash accounting
The enterprise develops and approves accounting policies in accordance with the Accounting Regulations "Accounting Policy of the Organization", approved by Order of the Ministry of Finance of the Russian Federation dated October 6, 2008 No. 60n (PBU 1/2008), based on the Chart of Accounts and accounting rules.
In the section of the accounting policy that determines the features of cash accounting, the following elements must be approved:
The procedure for conducting an inventory of funds must be approved in accordance with the Procedure for conducting cash transactions in the Russian Federation. It is necessary to indicate which accounting accounts are used to make an inventory of settlements with banks and other credit institutions for loans, with the budget, buyers, suppliers, accountable persons, employees, depositors, other debtors and creditors, which consists of checking the validity of the amounts listed in the accounting accounts .
In the accounting policy of the enterprise, it is necessary to fix the deadline for reporting on funds issued for reporting on business expenses in accordance with clause 11 of the “Procedure for conducting cash transactions in the Russian Federation”, approved by letter of the Central Bank dated September 22, 1993 No. 40. It is recommended to establish a deadline for reporting on funds issued for reporting on business expenses, within three days after receipt of funds.
The organization's accounting policy also needs to indicate the cash balance limit set by the bank.
We will check whether the accounting policies of DomServis Management Company LLC reflect all the necessary points regarding transactions with funds (see Table 10).
Table 10
RD 6. Checking the presence of the necessary elements of the Accounting Policy of LLC Management Company "DomServis" regarding transactions with funds
Elements of accounting policy regarding transactions with cash Degree of reflection in the Accounting policy of DomServis Management Company LLC (Appendix 2) Reflected Not reflected 1. The distribution of responsibilities between accounting employees, as well as the levels of responsibility for violations of accounting for banking and cash transactions2. Bank-cash document flow schedule and technology for processing accounting informationx3. Concept of cashx4. The procedure for conducting an inventory of funds x5. Inventory schedule x6. Deadline for reporting funds issued for reporting on business expenses7. The limit on the balance of cash in the cash register established by the bankx8. Accounts used in accounting for cash and banking transactions, according to the working chart of accounts and their correspondence
As can be seen from the working document, the Accounting Policy of DomService Management Company LLC does not reflect any of the essential elements for cash transactions. This is a significant drawback of cash accounting in an enterprise and requires elimination.
3.2 Audit of documentation and correctness of procedures for performing transactions with funds
At the beginning of the inspection, we will conduct an audit of compliance with regulatory requirements of the equipment of the cash desk premises of DomServis Management Company LLC (see Table 8). At the same time, the actual condition of the cash register premises equipment and the standards required for it are verified.
Table 8
RD 7. Compliance with the regulatory requirements of the equipment of the cash desk premises of LLC Management Company "DomServis"
Requirements Degree of fulfillment Complied with Not fulfilled Presence of a cash register room isolated from other service and utility rooms. + The presence of solid walls, durable floor and ceiling coverings, reliable internal walls and partitions. +The presence of two doors in the cash register room: an external one, opening outwards and an internal one, made in the form of a steel lattice, opening towards the internal location of the cash register. +Equipment of a special window for issuing money. +The presence of a safe (metal cabinet) for storing money and valuables, firmly attached to the building structures of the floor and wall with steel pipes. + Availability of a working fire extinguisher. -
As can be seen from the auditor’s working document, the requirements for equipping the cash register premises at the enterprise have not been met and this deficiency requires immediate elimination. This circumstance was explained by the chief accountant by the fact that the company had recently moved to new office and the ticket office has not yet been renovated or equipped.
The next stage is an audit of the compliance of the actual amount of cash in the cash register with the established limit. At the same time, the auditor selectively checked the sheets of the cash book for the 1st half of 2012 (Appendix 14), and compiled an auditor’s working document (see Table 11).
Table 11
RD 8. Compliance of the actual amount of funds in the cash desk of DomService Management Company LLC with the established limit
DateAccording to LLC Management Company "DomServis"According to the auditorLimit amount, rub. Actual availability at Limit amount, rub. Actual availability as of 01/26/201250 000.0030227.7550 000.0030227.7527.01.201250 000.0030227.7550 000.0030227.7531.01.201250 000.00227.7550 000 ,00227.7527.02.201250 000.00227.7550 000.00227 .75
During the audit of compliance of the actual amount of funds in the cash desk of DomService Management Company LLC with the established limit, no violations were identified.
Checking the correctness of the cash book is carried out in two directions:
- checking the correctness of the cash book;
- checking the accuracy of entries in the cash book:
- selective arithmetic verification of the correctness of the totals for incoming and outgoing transactions for the day;
- checking the correctness of transferring the remainder from one page to another;
- reconciliation of entries in the cash book, cashier's report, with registration data of incoming and outgoing cash orders.
In this case, it is necessary to make sure that the organization’s cash book is numbered, laced and sealed, and the number of sheets in the cash book is certified by the signatures of the head and chief accountant of the enterprise. This requirement is met in the organization (working document - table 12). During the audit, the correctness of the calculation of balances is checked, taking into account the inflow and outflow of funds.
Table 12
RD 9. Checking the correctness of the cash book of LLC Management Company "DomServis" for the 1st half of 2012.
Document No. Document date Balance Receipt Expense Transfer Sheet 1 of the cash book 01/26/2012227,7530000,000,0030227,75 Sheet 2 of the cash book 01/27/2012227,7530000,000,0030227,75 Sheet 3 of the cash book 01/31/2012227, 7530000.0030000.00227.75 Sheet 4 of the cash book 02.27. 2012227.75244200.00244200.00227.75
By checking the cash book entries, you can draw conclusions about how correctly the cash book is drawn up and the reliability of the entries in it. Records of cash receipts and expenditures, taking into account arithmetic verification, are reflected correctly.
Next, we will check the correctness of transferring the balance from one page to another of the cash book of DomService Management Company LLC (see Table 13). In this case, the balance at the end of the day must be equal to the balance at the beginning of the next day.
Table 13
RD 10. Checking the correctness of transferring the balance from one page to another of the cash book of DomService Management Company LLC
No. Report number DateBalance at the end of the day, rub. Balance at the beginning of the day, rub. Auditor's note Sheet 1 of the cash book 01/26/2012227.75227.75 No violations were detected Sheet 2 of the cash book 01/27/201230227.75227.75 A violation was detected Sheet 3 of the cash book 01/31/201230227.75227.75 A violation was detected Sheet 4 of the cash book 27. 02.2012227.75227.75 No violations detected
On the second and third sheets of the cash register, the data on the transfer of cash balances is not reflected correctly. The balance at the end of the day does not correspond to the cash balance at the beginning of the next day.
Regarding this fact, the chief accountant explained this by saying that at the beginning of the year there was a malfunction in the computer program and still not all errors in the accounting documents that occurred as a result of this malfunction have been eliminated.
Errors in the first sheets of the cash book are due to the fact that the expenditure of funds equal to the amount of receipt was not reflected there, which as a result led to an incorrect calculation of the balance at the end of the operating day. However, according to the chief accountant, this did not lead to distortion of the reporting data, since the program automatically set the correct amount of the cash balance at the beginning of the day.
The balance is transferred from one page to another correctly, all entries in the cash book coincide with the registration data in the journals of incoming cash orders and outgoing cash orders.
When checking the reflection of entries in the cash book, the cashier's report, as well as in the journals for registering incoming and outgoing cash orders, all entries with the corresponding amounts are reflected. No discrepancies were found in the reconciliation of records.
When checking cash transactions, it is necessary to check the completeness and timeliness of the posting of money received according to the relevant primary documents (advance report, check, etc.) by reconciling the identical amounts recorded in the primary documents and bank statements (using the code corresponding to the receipt of cash). The working document (see Table 14) verifies the amount according to the receipt order and the cash book.
Table 14
RD 11. Checking the correctness and completeness of the receipt of funds to the cash desk for the 1st half of 2012
Date Cash book Receipt orderAmount for receipt. warrant, rub. Cash book amount, rub. Auditor's opinion 12/27/2012 Sheet 4 of the cash book Receipt order No. 2244200.00244200.00 Fully capitalized June 14, 2012 Sheet 8 of the cash book Receipt order No. 750000.0050000.00 Fully capitalized
A random check showed that the amounts in the cash book were fully reflected.
When checking funds in relation to banking operations, first of all, the presence and correctness of the agreement for cash settlement services is checked, including its number, date of preparation, urgency of the agreement, and the auditor’s working document is drawn up (see Table 15).
Table 15
RD 12. Execution of an agreement with the bank for settlement and cash services of LLC Management Company "DomServis"
No. Agreement No. Date Validity period 123451 With OJSC "Northern Bank of Sberbank of Russia" on servicing bank account No. 13613.01.05 indefinitely
Based on the results of the audit of the availability and correct execution of the agreement for settlement and cash services, it is concluded that LLC Management Company DomServis has an agreement for settlement and cash services with OJSC Northern Bank of Sberbank of Russia. The agreement was drawn up in the prescribed form and does not contain any violations. Next, an audit is carried out of the compliance of the procedure and timing for the delivery of proceeds to the bank, the days of payment of wages at DomServis Management LLC and the preparation of an auditor’s working document (see Table 16).
Table 16
RD 13. Procedure and terms for submitting proceeds to the bank, days for issuing wages at LLC Management Company "DomServis"
No. Indicator Value of the indicator 1 Deadline for delivery of proceeds Daily at the end of the day 2 Time for delivery of proceeds to the bank's cash desk 16 hours 30 minutes. 3Days of payment of wages A) B) 1st day of each month 10th day of each month
Based on the results of the audit of the compliance of the procedure and timing of delivery of proceeds to the bank, days of issue wages in LLC Management Company "DomServis" it is established that proceeds from the cash register are delivered to the bank in a timely manner and in full, and funds for the payment of wages are received from the bank on the 1st and 10th of each month, which complies with the requirements of the law regarding that wages must be paid to employees at least twice a month.
Next, an audit of the procedure for delivering cash from DomService Management Company LLC to the bank and from the bank’s establishment is carried out and an auditor’s working document is drawn up (see Table 17). The working document checks the degree of correctness of the procedure for delivering cash to the bank.
Table 17
RD 14. Procedure for the delivery of cash from LLC Management Company DomService to OJSC Northern Bank of Sberbank of Russia and from OJSC Northern Bank of Sberbank of Russia
Requirements Degree of fulfillment Complied with Not fulfilled Delivery of cash by bank collectors; +Independent delivery of funds by a cashier without proper escort (security); -Delivery of funds with provision to the cashier vehicle. +
Based on the results of the audit of the cash delivery procedure of LLC Management Company "DomServis" to OJSC "Northern Bank of Sberbank of Russia", it can be concluded that the delivery of funds is carried out in compliance with security requirements.
During an audit of cash transactions on bank accounts, the first thing to check is the presence of bank statements and the absence of erasures and corrections in them. To carry out this check, we will draw up a working document (see Table 18). The information base for verification is bank statements (MC DomServis provided the opportunity to review bank statements on the territory of the enterprise, but management did not allow photocopies of the documents to be made, since the information contained in them is a commercial secret). The verification was carried out using a random method.
Table 18
RD 15. Checking the presence of bank statements and the absence of erasures and corrections in them
Subject of inspection Date of discharge 01/20/12 to 01/22/1223.01.1224.01.1225.01.121. Availability of bank statements++++2. Availability of corrections in the bank statementnononono3. Presence of erasures in the bank statementnononono4. Incoming/outgoing balance on statement45000.00/1448.581448.58/2706588.582706588.58/1806588.581806588.58/33448.58
As can be seen from the working document, the company's bank statements are in full. This confirms the account balance remaining. The audit also showed that there were no erasures or corrections in the bank statements.
Next, we will check the compliance of the amounts reflected in bank statements and supporting documents. To do this, we will draw up the following auditor document (see Table 19). Sources of information for verification are bank statements, cash receipt orders (Appendix 4,5,6), payment orders (Appendix 10,11), checks.
Table 19
RD 16. Checking the compliance of bank statements and supporting documents
TransactionAmountAccording to the bank statementAccording to the supporting document1. Receipt of money from the current account by check50000.0050000.002. Payment to the supplier under the contract 2961850.002961850.003. Payment to the supplier under the contract 1600000.001600000.00
The audit showed the presence of supporting documents for banking transactions, as well as the correspondence of the amounts of bank statements and supporting documents.
The next stage of auditing bank statements is checking them for the presence of the bank’s stamp indicating acceptance of documents for processing. To conduct this stage of the audit, a working document was drawn up (see Table 20).
Table 20
RD 17. Checking bank statements for the presence of a bank stamp confirming the acceptance of documents for processing
Date of statementsPresence of bank stampAuditor's commentfrom 01/20/12 to 01/22/12+-01/23/12+-01/24/12+stamp is poorly printed01/25/12+-
The audit showed that all verified statements have a bank stamp indicating acceptance of documents for processing. On one of the documents the stamp is not sufficiently printed, but it is legible and genuine.
3.3 Audit of the correctness of recording transactions with funds in accounting accounts
Next, an audit is carried out of the correctness of the correspondence of accounts reflecting cash transactions. When carrying out this audit, it is necessary to check the Working Chart of Accounts (Appendix 3) and Account Card 50.51 (Appendix 16,21) and a working auditor’s document is drawn up (see Table 21).
Table 21
RD 18. Checking the correctness of the correspondence of accounts reflecting transactions with funds in LLC Management Company "DomServis"
No. Transaction According to the chart of accounts At the enterprise Correctness of reflection DKDK1 Funds were received from the current account to the cash desk 50-151-150-151-1 correct 2 Funds were transferred to the current account from buyers of products 51-162-1 51-162-1 correct 3 Funds were received from the current account to product suppliers 60- 151-160-151-1correct4Paid taxes to the budget from the current account 68 6951-168 6951-1correct5Received revenue for goods sold 5062.905062.90correct6Received revenue for sold other assets 5062.915062.91correct7Advance received from the buyer (customer) 5062 5 062 correct8 The balance of unused items was handed over to the cashier sums of money accountable persons50715071correct9Repaid in cash debt for goods on credit, loans, shortages, embezzlement, theft50735073correct10Cash contribution to the authorized capital of the organization was made50755075correct11Receivables were repaid in cash50765076correct12Paid in cash for various assets60506050correct1 3Paid for purchased goods60506050correct14Money deposited into bank accounts51505150correct15Wages issued70507050correct16 Issued on account71507150correct17A shortage of money was identified in the cash register The shortage was attributed for the cashier The shortage was withheld from the cashier's salary94 73 7050 94 7394 73 7050 94 73correct
Based on the results of the audit of the correctness of correspondence accounts for reflecting transactions on the current account, no violations were identified; correspondence accounts are compiled for all business transactions that comply with the requirements of the law.
When checking the receipt of funds at the cash desk, the correctness of the correspondence of accounts when reflecting these transactions and the amount is checked in accordance with the cash receipt order (Appendices 4,5,6) and the accounting accounts on the account card (Appendix 16) (see Table 22 ).
Table 22
RD 19. Checking the completeness and correctness of reflection in the accounting records of the receipt of funds at the cash desk
Date No. PKO Correspondence of accounts Amount, RUB. From whomFoundationDebitCredit01/31/2012150-176-530000Petrova E.A. Payment according to a preliminary agreement 02/27/2012250-0171.1244200.00 Pekonin S.M. Refund of the accountable amount14.062012750-015150000.00 Sberbank. Received money by check from the bank
When checking the receipt of funds at the cash desk, working document 16 reflects all transactions involving the receipt of funds.
Checking expense cash transactions includes:
) verification of payment of wages:
formal and arithmetic verification of settlement and payment (settlement and payment) statements, cash receipts;
checking the availability of powers of attorney to receive funds from other persons;
random check of the correspondence of names in pay slips with other documents.
This check includes reconciliation of amounts according to cash orders (Appendix 7,8,9), payroll records (Appendix 13) and accounting data (Appendix 16) (see Table 23).
Table 23
RD 20. Checking the completeness and correctness of reflection of the payment of wages in the accounting records
Date No. of payroll No. of cash receipt order Amount, rub. Account Auditor's opinion 07/10/201217817400.0070 No violation of the procedure and terms of payment of wages was found
Salaries are issued to employees upon presentation of a passport or other identification document. According to powers of attorney, the payment of wages was not recorded. The list of employees indicated in the pay slips corresponds to the list of employees of the company DomServis Management Company LLC.
) checking the issuance of funds for reporting:
- checking the availability of an application for the issuance of funds or a memo;
- checking the availability of supporting documents;
- reconciliation of amounts issued for reporting in the cash book, order journals;
This check includes reconciliation of amounts according to cash receipts (Appendix 7) and accounting data (Appendix 16) (see Table 24).
Table 24
RD 21. Checking the completeness and correctness of reflection in the accounting records of the issuance of funds for reporting
Date Availability of advance report No. RKO Cash book Accountable person Journal - account order 50 Amount, rub. Account09.12.2011+1Sheet 3 Pekonin S.M. +30000.071-1
The audit showed that cash transactions in the accounting accounts of DomServis Management Company LLC are reflected correctly.
3.4 Audit of data identity of synthetic and analytical accounting and accounting (financial) statements
Next, an audit of the reliability of the analytical accounting data of DomServis Management Company LLC is carried out. Sources of information for the verification are: Analysis of account 50, 51 (appendix 15, 20), Account card 50, 51 (appendix 16,21), Journal - order and Statement of account 50, 51 (appendix 17,22) , General ledger (account turnover 50, 51 (Appendix 18,23), Turnover balance sheet (Appendix 19,24,25). As a result of this stage of verification, the following working document was compiled (see Table 25).
Table 25
RD 22. Checking the identity of records in synthetic and analytical accounting registers for accounts 51, 50 as of 06/30/12.
Accounting register Balance at the end of the period, rub. Deviation (+,-) According to the data of LLC Management Company "DomServis" According to the auditor Analysis of account 51 "Settlement accounts" 254.26254.26 no Expanded journal - order for account 51 "Settlement accounts" 254.26254.26 no Account card 51 "Settlement accounts" 254, 26254.26 no General ledger for account 51 "Settlement accounts" 254.26254.26 no Balance sheet for account 51 "Settlement accounts" 254.26254.26 no Analysis of account 50 "Cash" 989.35989.35 no Expanded journal - order for account 50 "Cash" 989.35989.35 no Account card 50 "Cash" 989.35989.35 no General ledger for account 50 "Cash" 989.35989.35 no Balance sheet for account 50 "Cash" 989.35989.35 no
Based on the results of the audit of the identity of records in the registers of synthetic and analytical accounting, no violations were identified. At the same time, it was established that the balance of accounts 51, 50 as of June 30, 2012 was equal to 254.26 rubles. and 989.35 rub. respectively.
At the end of the audit, an audit of the identity of the records of the Turnover Balance Sheet (Appendix 25) and the Balance Sheet, form 1 (Appendix 26) is carried out and an auditor’s working document is drawn up (see Table 26).
Table 26
RD 23. Checking the identity of the entries in the Turnover Balance Sheet and the Balance Sheet of DomService Management Company LLC as of 06/30/12
Accounting registerAmount, rub. Deviation According to LLC Management Company "DomService" According to the auditor Turnover sheet 254.26 + 989.35 = 1243.61254.26 + 989.35 = 1243.61 no Balance sheet 1243.61? 1 thousand rubles. 1243.61?1 thousand rubles. No
Based on the results of the audit of the identity of the records of the turnover balance sheet (Appendix 25) and the Balance Sheet (Appendix 26) in terms of reflecting information about the funds of DomService Management Company LLC, no violations were identified.
During the audit of DomService Management Company LLC, 11 auditor working documents were generated. All documents are in the form of analytical tables and contain information about the state of cash accounting in DomServis Management LLC. Working documents serve as the basis for drawing up a Written Auditor's Report to the Director of DomService Management Company LLC based on the results of the audit.
During the audit of DomService Management Company LLC, 23 auditor working documents were generated. All documents are in the form of analytical tables and contain information about the state of cash accounting in DomServis Management LLC. Working documents serve as the basis for drawing up a Written Auditor's Report to the Director of DomService Management Company LLC based on the results of the audit.
3.5 Summarizing the information received and drawing up the conclusions of the cash audit
Completion of an audit of an organization's cash transactions is accompanied by the preparation of written information to the management of the audited entity. The preparation of written information to the management of the audited entity is carried out on the basis of the following auditing standards: Rule (standard) No. 22 of auditing activities “Communication of information obtained from the results of the audit to the management of the audited entity”, adopted by the Decree of the Government of the Russian Federation of April 16, 2005. No. 228, Rule (standard) 1/2010 “Audit report on accounting (financial) statements”, adopted by Order of the Ministry of Finance of Russia dated May 20, 2010 No. 46n, Rule (standard) (FSAD 2/2010) “Modified opinion in the auditor’s report ", adopted by Order of the Ministry of Finance of Russia dated May 20, 2010 No. 46n, Rule (standard) (FSAD 3/2010) "Additional information in the audit report", adopted by Order of the Ministry of Finance of Russia dated May 20, 2010 No. 46n, Rule (standard) (FSAD 9/2011) "Features of the audit of a separate part of the statements", approved by Order of the Ministry of Finance of the Russian Federation dated August 16, 2011 No. 99n.
Information represents information that became known to the auditor during the audit of financial (accounting) statements, which, in the opinion of the auditor, is both important for management and representatives of the owner of the audited entity in their exercise of control over the preparation of reliable financial (accounting) statements of the audited entity and disclosure of information in it. The information includes only those matters that came to the auditor's attention as a result of the audit. The auditor is not required to develop procedures during the audit that are specifically aimed at finding information relevant to the management of the entity being audited. The auditor must review the information and communicate information of interest to the management of the entity being audited to the appropriate recipients of such information. Typically, such information reflects:
a) the auditor’s general approach to the conduct of the audit and its scope, the auditor’s concerns about any limitations on the scope of the audit, and comments on the appropriateness of any additional requests from management of the entity being audited;
b) selection or change by the management of the audited entity of principles and methods of accounting policies that have or may have a significant impact on the financial (accounting) statements of the audited entity;
c) the possible impact on the financial (accounting) statements of the audited entity of any significant risks and external factors that must be disclosed in the financial (accounting) statements (for example, legal proceedings);
d) significant adjustments to the financial (accounting) statements proposed by the auditor, both carried out and not carried out by the audited entity;
e) significant uncertainties relating to events or conditions that may significantly cast doubt on the entity's ability to continue as a going concern;
f) disagreements between the auditor and the management of the audited entity on issues that, individually or in the aggregate, may be significant for the financial (accounting) statements of the audited entity or the auditor’s report. The information provided in this regard should include an explanation of the importance of the matter and whether the matter has been resolved or not;
g) expected modifications to the auditor's report;
h) other issues that merit the attention of the owner's representatives (for example, significant deficiencies in internal control, issues related to the integrity of the audited entity's management, as well as cases of management misconduct).
If information of interest to the auditee's management is communicated orally, the auditor should document in working papers that information and the reactions of recipients to it. Such documents may take the form of copies of minutes of discussions held by the auditor with representatives of the owner and management of the audited entity. In some cases, depending on the nature, importance and characteristics of the information, it is appropriate for the auditor to obtain written confirmation from representatives of the owner and management of the audited entity regarding any oral communications on audit matters of interest to the management of the audited entity.
So, to CEO LLC Management Company "DomService" was provided with written information to the management of the organization based on the results of the audit, compiled in accordance with the requirements of the Rule (standard) (FSAD 9/2011) "Features of the audit of a separate part of the statements", approved by Order of the Ministry of Finance of the Russian Federation dated August 16, 2011 No. 99n.
Written information to the management of the organization
Inspected economic entity: LLC Management Company "DomServis"
Verified period: from 01/01/12 to 06/30/12.
An audit of funds was carried out as of June 30, 2012 of the organization LLC Management Company "DomService".
Responsibility of the audited entity: balance sheet.
The management of the audited entity is responsible for the preparation and reliability of the specified balance sheet in the part of the line “Cash”, which does not contain significant distortions due to fraud or errors.
Auditor's Responsibility
Our responsibility is to express an opinion on the accuracy of the balance sheet as it relates to Cash based on our audit. We conducted our audit in accordance with federal auditing standards. Those standards require that we comply with applicable ethical standards and plan and perform the audit to obtain reasonable assurance whether the balance sheet is free from material misstatement.
The audit included conducting audit procedures aimed at obtaining audit evidence confirming the numerical indicators for cash transactions in the balance sheet in the “Cash” line. The audit procedures we select are subject to our judgment, which is based on our assessment of the risk of material misstatement, whether due to fraud or error. In the process of assessing this risk, we reviewed the internal control system, which ensures the preparation and reliability of the balance sheet in the “Cash” line, in order to select appropriate audit procedures, but not for the purpose of expressing an opinion on the effectiveness of the internal control system.
The audit also included assessing the appropriateness of the accounting policies used and assessing the presentation of the balance sheet as it relates to the cash line item.
The evidence obtained during the audit provides sufficient grounds for expressing an opinion on the reliability of the balance sheet as regards the line “Cash”.
In our opinion, the cash transactions of the enterprise are reflected reliably in all material respects: cash receipts and payments of the organization LLC Management Company DomServis for the 1st half of 2012 in accordance with the requirements.
A significant drawback in the organization of cash accounting is the non-compliance of the approved Accounting Policy with the requirements of the law and errors in filling out the cash book, however, this circumstance did not lead to distortion of data in the reporting of LLC Management Company DomServis.
Thus, during the audit process, the compliance of the transactions with funds performed by DomServis Management LLC with the legislation of the Russian Federation was carried out for the purpose of assessing the reliability of the accounting (financial) statements of the organization.
The study revealed that the enterprise's accounting policy does not reflect the specifics of accounting for cash transactions.
In the section of the accounting policy of LLC Management Company "DomServis", which determines the features of cash accounting, it is necessary to approve the following elements:
Regulations on the accounting service, which defines the distribution of responsibilities between accounting employees, and also indicates the levels of responsibility for violations of accounting for banking and cash transactions. Job Descriptions for accounting employees must be documented as an annex to the accounting policy;
bank-cash document flow schedule and technology for processing accounting information;
concept of money. Cash and cash equivalents represent cash on hand and in current accounts and cash equivalents, which are short-term, highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. Amounts that are subject to any restrictions on their use are excluded from cash and cash equivalents.
It is imperative to approve the procedure for conducting an inventory of funds in accordance with the Regulations of the Central Bank of October 12, 2011 No. 373-P “On the procedure for conducting cash transactions with banknotes and coins of the Bank of Russia on the territory of the Russian Federation.” It is necessary to indicate which accounting accounts are used to make an inventory of settlements with banks and other credit institutions for loans, with the budget, buyers, suppliers, accountable persons, employees, depositors, other debtors and creditors, which consists of checking the validity of the amounts listed in the accounting accounts .
Account 60 “Settlements with suppliers and contractors” for goods paid for but in transit, and settlements with suppliers for uninvoiced deliveries should be checked. It is verified against documents in accordance with the corresponding accounts.
For debts to employees of the organization (account 70 “Settlements with personnel for wages”), unpaid amounts for wages are identified that are subject to transfer to the account of depositors, as well as the amounts and reasons for overpayments to employees.
When making an inventory of accountable amounts (account 71 “Settlements with accountable persons”), reports of accountable persons on advances issued are checked, taking into account their intended use, as well as the amount of advances issued for each accountable person (dates of issue, special purpose).
In addition, the inventory schedule must be approved in accordance with Article 12 of the Law of the Russian Federation “On Accounting” No. 129-FZ of November 21, 1996.
In the accounting policy of DomService Management Company LLC, it is necessary to fix the deadline for reporting on funds issued for reporting for business expenses in accordance with clause 11 of the “Procedure for conducting cash transactions with banknotes and coins of the Bank of Russia on the territory of the Russian Federation.” It is recommended to set the reporting period for funds issued for reporting on business expenses within three days after receipt of funds.
In the accounting policy of DomService Management Company LLC, it is also necessary to indicate the cash balance limit in the cash register established by the bank.
It is necessary to approve the accounts used to record cash and banking transactions in accordance with the working chart of accounts and their correspondence. For cash accounting accounts, additional analytical accounts can be entered, for example “Location of cash desk”, “Current account in bank A, B” and others.
The assessment of funds reflected in the accounts “Cash”, “Current account”, “Funds in settlements”, “Funds in transit” and others can be made in the accounting currency as of the balance sheet date. In case of settlements in another currency - at the rate of the Central Bank of the Russian Federation, another exchange or at the rate established by the financial director. This provision is also recorded in the accounting policy of the enterprise. For example, funds in foreign currencies are accounted for in accounting in rubles by converting foreign currency at the rate valid on the date of issue of monetary settlement documents. Exchange differences on transactions in foreign currency, including differences from the revaluation of cash balances as of the date of preparation of the financial statements, are attributed to financial results.
Conclusion
The relevance of the chosen topic is due to the fact that the correctness, accuracy and timeliness of cash accounting leads to an improvement in the quality of accounting work, clarity in the distribution of funds, which in turn has a positive effect on the work of the entire organization.
Cash characterizes the initial and final stages of the circulation of economic assets, the speed of which largely determines the effectiveness of all business activities. The volume of money available to an enterprise as the most important means of payment determines the solvency of the enterprise - one of the most important characteristics of its financial position.
Cash is absolute liquidity, that is, the immediate ability to act as a means of payment for the obligations of the enterprise. Therefore, it is their volume that determines the solvency of the enterprise. To determine its level, the volume of cash is compared with the size of the enterprise's current liabilities. Enterprises that have sufficient funds to pay their current obligations are considered to be absolutely solvent. In addition, the company needs certain reserve cash reserves to pay for possible unforeseen obligations, as well as to implement them unexpectedly. profitable investment. However, any excess reserves of funds lead to a slowdown in their turnover, that is, to a decrease in the efficiency of their use, and in conditions of inflation, to direct losses due to their depreciation. All these statements once again emphasize the importance of this topic “Accounting and cash audit” and the relevance of this work.
The methodology for auditing funds in a final qualifying work is considered using the example of auditing the organization LLC Management Company "DomService".
The main task of cash accounting is reliable, timely and complete accounting of funds and transactions related to their movement. Accounting must be carried out on the basis of the legislation of the Russian Federation and not contradict it. Accounting for funds is carried out on the basis of primary documents (forms No. KO-1, KO-2 and others);
The organization of accounting work in DomServis Management LLC complies with all the requirements of the legislation of the Russian Federation, namely:
-the organization maintains accounting records in accordance with the Chart of Accounts for accounting the financial and economic activities of organizations and the Instructions for its application, approved by Order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n;
-the organization accepts cash when making settlements with the population with the mandatory use of cash registers, in accordance with the Federal Law of May 22, 2003 No. 54-FZ "On the use of cash register equipment when making cash payments and (or) settlements using payment cards ";
-within the time limits established by the head of the enterprise, as well as when changing cashiers, an audit is carried out at LLC Management Company "DomServis" with a complete page-by-page recalculation of cash and checking other valuables in the cash register.
In general, cash accounting at DomServis Management LLC is maintained in accordance with the legislation of the Russian Federation. However, upon a detailed study of cash accounting at DomServis Management LLC, some inaccuracies were identified:
1.Such forms of primary accounting documentation as the “Logbook of registration of cash transactions” (No. KO-3) and the “Book of accounting of funds accepted and issued by the cashier” (No. KO-5) are not maintained at DomServis Management LLC;
2.Cash orders are not filled out properly:
-there are no signatures or transcripts to them;
-the responsible persons indicated in the documents do not correspond to the staffing table (the head of the organization in the documents is the chief accountant, the chief accountant is the cashier);
3. LLC Management Company "DomServis" does not have a separate place for the organization's cash desk, which is a violation of the legislation of the Russian Federation regarding the Procedure for conducting cash transactions in the Russian Federation, approved by decision of the Board of Directors of the Central Bank of September 22, 1993 No. 40 (as amended on 26 February 1996).
Accounting at LLC Management Company "DomServis" is carried out using an automated accounting form. The organization uses the following programs: "1C: Enterprise - Accounting, edition 8.2".
In the practical part of the work, an audit of funds was carried out at DomServis Management Company LLC. It was found that the general purpose of the audit of funds in LLC Management Company "DomServis" is to verify compliance with the accounting procedure in the field of transactions with funds, compliance of these operations with the legislation of the Russian Federation, completeness and accuracy of the reflection of information on cash flows in the financial (accounting) statements funds.
Planning of the audit was carried out in accordance with Federal Rule (standard) No. 3 Audit Planning dated September 23, 2002 No. 696 (as amended on October 7, 2004).
Based on the results of the compiled test-questionnaire for assessing the internal control system, a conclusion was made about the high level of reliability of the organized cash accounting system at DomService Management Company LLC. The accepted level of materiality for DomServis Management Company LLC was 2,400 thousand rubles.
Further work of the auditor was based on the general plan and audit program drawn up.
The cash register and cash operations audit program included the following main areas:
Audit of compliance with accounting policies regarding cash accounting.
Audit of documentation and correctness of procedures for performing transactions with funds.
Audit of the correctness of recording transactions with funds in accounting accounts.
Audit of data identity of synthetic and analytical accounting and financial statements of an enterprise.
During the audit of DomService Management Company LLC, 23 auditor working documents were generated. All documents are in the form of analytical tables and contain information about the state of cash accounting in DomServis Management LLC. Working documents serve as the basis for drawing up an audit report of DomService Management Company LLC based on the results of the audit.
After checking the audit of transactions on current accounts, the following conclusions can be drawn:
-When checking the document flow of DomService Management Company LLC, no significant violations were identified. The reasons for the absence of obvious violations when checking document flow are the fact that computer technology is actively used, as well as the fact that the bank carries out additional verification of the execution of primary documents. And if the primary documents are filled out incorrectly, the bank refuses to accept these documents.
-Based on the results of checking the receipt of cash from the cash register according to the announcement for cash contributions, we can conclude that the amounts according to the announcement for cash contributions and the amounts of actual cash received are identical.
-Based on the results of the audit of transactions related to payment by non-cash funds, the completeness and timeliness of the supply of goods, services and their timely payment is traced.
-Based on the results of checking the receipt and expenditure of funds from the current accounts of DomService Management Company LLC, no violations were identified; correspondence accounts are drawn up for all business transactions that comply with the requirements of the law.
-Based on the results of the audit of the identity of records in the registers of synthetic and analytical accounting, no violations were identified.
Summing up the overall results of the inspection, we can conclude that no gross violations or errors were identified. Thus, in terms of organizing accounting and conducting operations on the movement of funds at the cash desk and on the current account at the enterprise LLC Management Company "DomServis", the following conclusion can be drawn: accounting at the enterprise is organized and maintained in accordance with the regulatory framework and methodological guidelines on accounting. The financial accounting statements of the enterprise are compiled in accordance with the requirements for accounting reporting and are complete and reliable.
) reflection in the accounting policy of the enterprise of the features of accounting for cash transactions in accordance with current legislation;
) moving the cash register to a separate equipment room;
) entering the position of accountant-cashier.
List of sources used
Regulatory documents
1.Civil Code of the Russian Federation. Part one: Federal Law of November 30, 1994 No. 51-FZ. Part two: Federal Law of January 26, 1996 No. 14-FZ (as amended on November 30, 2011 No. 363-FZ). - M.: INFRA-M, 2012. P.3-145.
2.Tax Code of the Russian Federation. Part one: Federal Law of July 31, 1998 No. 146-FZ. Part two: Federal Law of July 31, 1998 No. 146-FZ (as amended on November 30, 2011 No. 359-FZ). - M.: INFRA-M, 2012. P.3-265.
.Federal Law of December 30, 2008 No. 307-FZ (as amended on July 1, 2010) “On Auditing Activities” (as amended on November 21, 2011 No. 327-FZ) // Information and legal system "Garant".
.Federal Law of November 21, 1996 No. 129-FZ (as amended on September 28, 2010) “On Accounting” (as amended on November 28, 2011 No. 339-FZ) // Information and legal system "Garant".
.Federal Law of May 22, 2003 No. 54-FZ “On the use of cash register equipment when making cash payments and (or) payments using payment cards” (adopted by the State Duma of the Federal Assembly of the Russian Federation on April 25, 2003) (as amended on June 27, 2011 No. 162-FZ) // Information and legal system "Garant".
.Federal Law of July 10, 2002 No. 86-FZ "On the Central Bank of the Russian Federation (Bank of Russia)" (as amended on November 21, 2011 No. 327-FZ) // Information and legal system "Garant".
7. Decree of the Government of the Russian Federation of July 30, 1993 No. 745 “On approval of the Regulations on the use of cash registers when making cash settlements with the population and the List of certain categories of enterprises (including individuals carrying out entrepreneurial activities without education legal entity, in case they carry out trade operations or provide services), organizations and institutions that, due to the specifics of their activities or the characteristics of their location, can carry out cash settlements with the population without the use of cash registers" (as amended by the Resolution<#"center">Applications
Annex 1
Regulatory documents governing accounting and auditing in the Russian Federation regarding transactions with funds
No. Title of document Document no., date of adoption, approving authorityLast editionList of regulated issues on accounting and audit of cash transactions123451 level Legislative1Civil Code of the Russian Federation. Part one. part two. Part one: Federal Law of November 30, 1994 N 51-FZ. Adopted by the State Duma on October 21, 1994 Part two: Federal Law of January 26, 1996 N 14-FZ. Adopted by the State Duma on December 22, 1995 from October 2, 2012. Regulates issues of a civil legal nature. In terms of cash transactions, it regulates relations with counterparties on these issues. 2Tax Code of the Russian Federation. Part one. part two. Part one: Federal Law of July 31, 1998 N 146-FZ. Adopted by the State Duma on July 16, 1998. Approved by the Federation Council on July 17, 1998 Part two: Federal Law of July 31, 1998 N 146-FZ. Adopted by the State Duma on July 19, 2000. Approved by the Federation Council on July 26, 2000. dated April 30, 2010 Regulates issues of taxation of citizens and organizations of the Russian Federation. In terms of cash transactions, it regulates the taxation of these transactions. 3Federal Law "On Accounting". Federal Law of November 21, 1996 N 129-FZ. Adopted by the State Duma on February 23, 1996. Approved by the Federation Council on March 20, 1996. dated November 28, 2011 No. 339-FZ Establishes general provisions accounting in general, and accounting for cash transactions in particular. 4Federal Law “On Accounting” No. 402-FZ dated December 6, 2011 Establishes uniform requirements for accounting, including accounting (financial) reporting, as well as the creation of a legal mechanism for regulating accounting. 5Federal Law “On Auditing Activities” Federal Law No. 307-FZ of December 30, 2008. Adopted by the State Duma on December 24, 2008. Approved by the Federation Council on December 29, 2008. the federal law<#"justify">The regulation establishes the obligation of enterprises, institutions and organizations (including kiosks, stalls, tents and other fixed networks) of all forms of ownership that carry out trading activities and provide paid services to the population to accept cash with the mandatory use of cash registers, allowed for use in accordance with the State Register of Control - cash registers. 9Resolution of the Government of the Russian Federation "On the procedure for carrying out cash payments and (or) settlements using payment cards without the use of cash register equipment" Resolution of the Government of the Russian Federation dated 05/06/2008 N 359 Resolution of the Government of the Russian Federation dated 02/14/2009 N 112 The regulation establishes the procedure for implementation by organizations and individual entrepreneurs cash payments and (or) payments using payment cards without the use of cash register equipment in the case of providing services to the population, subject to the issuance of a document drawn up on a strict reporting form, equivalent to a cash receipt, as well as the procedure for approval, accounting, storage and destruction of such forms. 10Instruction of the Central Bank of the Russian Federation "On the maximum amount of cash payments and the expenditure of cash received at the cash desk of a legal entity or cash desk individual entrepreneur"Instruction of the Central Bank of June 20, 2007 No. 1843-Ed. Instructions
Tags: Audit of an organization's funds using the example of LLC Management Company "DomServis" Diploma Accounting, management accounting
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Introduction
2. general characteristics JSC "Pole"
3.3 Checking current accounts
3.4 Audit of funds received
3.5 Audit of financial statements
3.6 Presentation of results
Conclusions and offers
List of sources used
Introduction
The economic policy of the state is carried out with the help of financial and credit levers. One of the most important control levers financial system is financial control. On modern stage Organizations' financial control is undergoing major changes; there is a need for reliable accounting and reporting information on the activities of business entities. This is due to the fundamentally new nature of commodity-money relations in modern Russia, the emergence of various forms of ownership and a new market for the country, which necessitates the use of various control methods. Currently, state, departmental and independent audit control is in place.
Relevance of the topic course work is that checking and maintaining records of the company’s funds is a prerequisite for forming an opinion on the reliability of the financial statements in all existing aspects.
The subject of the study is the reliability of the reflection in the accounting of funds of the enterprise, as well as the compliance of the organization of cash accounting with the requirements of the legislation of the Russian Federation.
The object of the study is the financial and economic activities of the organization CJSC “Pole”.
The main goal of the work is to establish the legality, reliability and expediency of transactions with the enterprise’s funds, and the correctness of their reflection in accounting.
To achieve this goal, it is necessary to complete the following tasks:
1. Explore regulatory acts on auditing the reliability of cash accounting;
2. Study the fulfillment of the requirements for organizing a cash register and storing cash and securities in the cash register;
3. Study the procedure for planning an audit of cash accounting and developing an audit program;
4. Study the procedure for conducting an audit of cash accounting;
5. Checking the documentation of the inspection results.
In most enterprises, the volume of cash transactions is quite significant, so checking them is a labor-intensive process, although the procedures for carrying them out are quite simple. Increased attention is required from the auditor, since in practice the largest number of violations and abuses by officials are associated with this area of accounting.
During the audit, the auditor is guided by the legislation of the Russian Federation and regulatory documents of the Ministry of Finance of the Russian Federation and the Central Bank of the Russian Federation.
1. Theoretical aspects of conducting a cash audit
Today, due to global financial crisis, when the situation of many Russian enterprises is extremely unstable, for financial and accounting services one of the objects of analysis and management, according to Yu. A. Babaev, should be cash flows, which are understood as all receipts and payments of funds made by the enterprise in the course of its current, investment and financial activities.
The purpose of cash flow analysis is, first of all, to analyze the financial stability and profitability of the enterprise.
In accordance with PBU 4/99 “Accounting statements of an organization”, approved by Order of the Ministry of Finance of Russia dated July 6, 1999 No. 43n, three types of cash flows are distinguished by type of activity: for current, investment and financial activities.
Cash flows from current activities are formed as a result of the activities of the organization pursuing profit as the main goal (for commercial organizations) or does not have profit as such a goal in accordance with the subject and goals of the activity (for a non-profit organization).
Cash flows by investment activities arise as a result of the organization’s activities related to capital investments in various types of fixed assets and intangible assets, as well as their sale, and long-term financial investments in other organizations, issuing bonds and other long-term securities.
Cash flows from financial activities are generated as a result of the organization's activities related to the implementation of short-term financial investments and the issue of previously acquired short-term securities.
Klimova M.A., says that cash flow analysis should be based on reliable information, which is confirmed during a cash audit.
Therefore, the goal of a cash audit is to formulate an informed opinion about the reliability and completeness of disclosure of information about them in the financial statements of the audited organization.
Business in any field of activity begins with the determination of cash, through which the required amount of resources is acquired, production and sales of products are organized. In the process of its movement, capital goes through approximately three stages of circulation: procurement, production and sales.
At the first stage, the enterprise acquires the fixed assets it needs, productive reserves, on the second - part of the funds in the form of reserves goes into production, and part is used to pay workers, pay taxes, payments for social insurance and other expenses. This stage ends with the release of finished products. At the third stage, finished products are sold and funds are transferred to the company’s account, and, as a rule, more than the initial amount by the amount of profit received from the business. Consequently, the faster the capital makes the circuit, the more the enterprise will receive and sell products with the same amount of capital over a certain period of time. A delay in the movement of funds at any stage leads to a slowdown in capital turnover, requires additional investment of funds and can cause a significant deterioration in the financial condition of the enterprise.
In order for money to work for an enterprise, it must be put into circulation in order to make a profit:
Expand your production by cycling them through the working capital cycle;
Invest in profitable projects of other business entities in order to receive profitable interest;
Reduce the amount of accounts payable in order to reduce debt servicing costs;
Renew fixed assets, acquire new technologies, etc.
An increase or decrease in cash balances in bank accounts is determined by the level of cash flow imbalance, i.e. inflow and outflow of money. The excess of inflows over outflows increases the balance of free cash, and conversely, the excess of outflows over inflows leads to a shortage of cash and an increase in the need for credit.
Cash flows are planned, for which a plan of income and expenses for the year is drawn up, broken down by month, and for operational management - by decade and five days. If a positive cash balance is predicted for a long time, then ways of using them profitably should be provided. In certain periods there may be a shortage of cash. Then you need to plan sources of borrowed funds. Therefore, the role of money in a market economy is not just great, it is enormous.
The purpose of the cash flow audit is to form an opinion on the reliability of the accounting statements for the “Cash” section and the compliance of the applied methodology for accounting for cash in cash and in bank accounts with the regulatory documents in force in the Russian Federation.
Among the documents subject to verification are primary documents, accounting registers, and reporting.
Primary documents include:
1. Agreement for settlement and cash services with the bank.
2. Statements of personal accounts.
3. Payment orders.
4. Memorial orders.
5. Payment requirements - orders.
6. Receipt cash orders.
7. Expenditure cash orders.
Accounting registers include:
1) General ledger.
2) Journals - orders No. 2,3.
3) Statement No. 2.
Reporting includes:
Information about ruble accounts in banks and other credit institutions operating in the Russian Federation;
Cash flow statement (form No. 4).
The information base, in the opinion of Larionov A.D., used by the auditor when checking cash flow transactions should include:
Basic regulatory documents governing the procedure for conducting transactions at the cash desk, on settlement, currency and other bank accounts and accounting for these transactions;
Order on the accounting policy of the organization;
According to the order on accounting policies, the auditor becomes familiar with:
With a working chart of accounts used to reflect cash flow transactions;
The applicable form of accounting and the list of registers for accounting for funds at the cash desk and in bank accounts;
Document flow (document flow schedule) of primary documents related to cash accounting;
A list of persons who are granted the right to sign monetary settlement documents.
Depending on the stated purpose of the audit, the completeness of its coverage of the audited objects and the need to obtain diverse, evidentiary information about the economic and financial activities of the audited entity, auditors can use various methodological techniques and technical auditing methods when performing control procedures. For example, when performing control procedures, auditors can use methods of actual control, which include inventory, expert assessment, control checks and oral questioning, etc.
To reasonably express an opinion on the reliability of the financial statements, the auditor must obtain sufficient audit evidence based on audit procedures, such as:
a) a detailed check of the accuracy of the account balances reflected in the accounting records;
b) analytical procedure;
c) verification (test) of internal controls.
Sotnikova L.V., in her manual, says that the auditor, based on his professional judgment, independently makes a decision on the amount of information necessary to draw an opinion on the reliability of the financial statements of an economic entity.
The verification methodology includes conducting an inventory of funds in the organization’s accounts and establishing compliance of primary documents with accounting registers.
Inventory means checking objects in kind by organoleptic means. The essence of this technique is that the presence of certain objects of control is established through their visual examination through inspection, measurement, weighing and recalculation.
It is advisable to carry out an inventory of cash in the cash register in the presence of an auditor.
An inventory of funds held in bank accounts in current and special accounts is carried out by reconciling the balances of the amounts listed in the corresponding accounts, according to the organization’s accounting data, with data from bank statements.
The most valuable are audit evidence obtained by the auditor directly as a result of research into business operations and independent analysis. Auditors are given the right to fully verify not only documentation, but also the actual presence of any property, cash, securities, material assets, and an economic entity is obliged to create conditions for the auditor to conduct a timely and complete audit.
It is also useful to observe the implementation of individual economic and accounting transactions. This procedure is important primarily for assessing the organization of accounting and the internal control system.
The completeness of audit control for an objective assessment of the reliability of accounting and reporting data is achieved through documentary checks. Therefore, auditors, in order to establish the essence, legality, feasibility and assessment of the reliability of business transactions, can use various methodological techniques for checking documents and accounting registers.
Among them, we should highlight: document verification (formal verification and substantive verification), arithmetic, or counting, verification of documents, comparison (reconciliation) of documents, written request and economic analysis.
Document verification means that first of all the document is studied from the formal side in order to establish: whether it is drawn up in the approved form, whether it has all the necessary signatures of officials, whether other mandatory details are filled in (name of the document, date of preparation, content of the business transaction, transaction meters in physical and monetary terms), whether there are any erasures and unspecified corrections, whether there are properly executed annexes referenced in the document, etc.
The authenticity of documents is established by checking the reality of the signatures of officials contained in them and the compliance of the documents with the dates of transactions reflected in them.
When reading documents, after establishing their authenticity, they check the documents on their merits, that is, from the point of view of reliability, legality and economic feasibility of the business transactions reflected in them.
The reliability of the operations recorded in the documents is verified by studying these and related documents, interviewing relevant officials, inspecting objects in kind, etc. The legality of transactions reflected in documents is established by checking their compliance with current legislation. The reliability and value of the information obtained during such an audit largely depends on the quality of the client's internal control system.
An arithmetic (counting) check comes down to checking the correctness of the calculations in the documents of the given markups (discounts, markups), allocation of tax amounts, etc. This check is complemented by an analytical check of accounting registers, balance sheets and reporting.
The correspondence of reporting indicators to analytical and synthetic accounting data, the consistency of indicators in individual forms of financial statements and balance sheets, in accounting registers and primary documents are studied.
Depending on the audit plan, assessment of the internal control system and audit risk, it can be selective or complete. If the client uses accounting software, then the verification of calculations must comply with a special standard.
Comparison of documents means that the reliability and correctness of business transactions reflected in documents is verified by comparing data from different documents relating to the same or different, but interrelated business transactions. It can be carried out according to documents located in the accounting department of the organization or organization with which the audited economic entity has entered into an economic relationship.
In these cases, it is necessary to use a comparison of planned and accounting, accounting and regulatory, internal and external, one-time and cumulative, primary and consolidated documents, which ensures the most in-depth study of the control object.
2. General characteristics of JSC “Pole”
The full name of the enterprise is Closed Joint Stock Company “Pole” (hereinafter ZAO “Pole”).
The main task and purpose of the farm, in accordance with the Charter of JSC "Pole", is the production, processing and sale of agricultural products, seed production of agricultural crops and the production of elite seeds. The main activity of the farm is the production of livestock and crop products.
The climate and soil cover generally have a favorable effect on the cultivation of crops. The organization is located in the central agroclimatic zone of the Krasnodar region. The moderate continental climate with insufficient moisture has a two-way impact on agricultural production in this zone.
JSC "Pole" consists of 5 branches:
In the first department, in the village of Fedorovsky, there is a dairy farm No. 1, a canteen, a mechanical workshop, and an office;
In the second department, in the village of Bolshevik, there is a dairy farm No. 2, a mechanical workshop, an office, and a slaughterhouse;
In the third department, in the Maryinsky farm, there is a dairy farm No. 3, a canteen, a mechanical workshop, an office;
In the fourth department, there is a canteen, a mechanical workshop, an office, a canteen, dairy farms No. 4 and No. 5;
In the fifth department there is a dairy farm No. 6, a canteen, a mechanical workshop, and an office.
The farm employs about 1,100 people, the average salary is 8,000 rubles. Salaries are also paid in kind in the form of sugar, grain, corn, and sunflowers.
Workers are also given bread, milk, and meat.
The main resources of JSC "Pole" are presented in Table 1.
Table 1 - Resources of JSC "Pole"
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Index |
2009 as a percentage of 2007 |
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Average annual number of employees, people. Main production |
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Area of agricultural land, ha |
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Arable land area, ha |
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Average annual cost of fixed assets, thousand rubles. Main production |
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Average annual cost of working capital, thousand rubles. Main production |
318775,5 254170,5 |
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Availability of energy capacity, hp |
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Production costs, thousand rubles. |
In CJSC "Pole" in 2009, compared to 2007, the following indicators changed: the average annual value of fixed assets increased by 64.7%; the average annual value of working capital increased by 37.1%; the availability of energy capacity increased by 7.9% (due to the acquisition of new agricultural machinery and equipment); the average annual number of employees decreased by 11.8% (due to staff turnover); the area of arable land and agricultural land decreased by 2.9%.
The results of the production activities of JSC "Pole" are shown in Table 2.
Table 2 - Results of production activities of JSC "Pole"
At JSC “Pole” in 2009, compared to 2007, the following indicators changed: grain production increased by 7.1% (due to favorable conditions during the period of grain ripening and harvesting); vegetable production by 3.9%; At the same time, the growth of pigs decreased by 32.9% (due to natural mortality of animals); sugar beet production decreased by 26.1%; the growth of cattle decreased by 15.9% (one of the reasons for this is the insufficient amount of nutrients in the feed due to prolonged drought); milk production decreased by 14.1%; Sunflower production decreased by 7.3%.
The results of the economic activities of ZAO Pole are presented in Table 3.
Table 3 - Results of economic activities of CJSC "Pole"
In Closed Joint Stock Company "Pole" in 2009, compared to 2007, the following indicators changed: non-operating income increased by 120.8 times; net profit for the reporting year increased 3.6 times; profit from product sales increased by 89.5%; revenue from product sales increased by 26.4%; gross output at cost increased by 12.3%.
In practice, the manager maintains accounting records personally. Usually these functions are performed by the accounting department, if present, or the chief accountant.
Accounting at CJSC "Pole" is carried out by the accounting department, headed by the chief accountant. The accounting structure is as follows (Figure 1).
Figure 1 - Accounting structure of the organization CJSC "Pole"
The chief accountant and deputy chief accountant monitor the system of indicators and summarize them into a single report that characterizes the conditions and results of the enterprise for the past period, that is, they reflect the property and financial position of the organization as of the reporting date, as well as the financial results of its activities for the reporting period.
The accountant of the material department is responsible for accounting for the acquisition of material assets, their receipt and expenditure. The same accountant keeps records of fixed assets. Accepts primary documents from suppliers and accountable persons, where special attention is paid to the order and correctness of filling out documents.
A livestock accountant keeps records of available animals, their movement, transfer to the main herd and for fattening, slaughter, offspring, weight gain, intake of young animals, etc.
A tax accountant calculates contributions to the tax service.
A crop accountant takes into account various operations related to crops grown on the farm, their sale, sowing, reflects yields, etc.
An accountant for settlements with legal entities and individuals keeps records of settlements with various kinds of creditors and debtors, shareholders, makes settlements on dividends, and settlements with investors.
The accounting department accountant calculates wages to employees, records all settlements with employees, the budget, the Social Insurance Fund and other departments related to wages, etc.
The cashier carries out cash payments and payments. The cashier is in charge of cash transactions, maintaining the availability of funds in the cash register and maintaining the cash book.
3. Main stages of the audit
3.1 Start of the audit
Planning is one of the most important stages of an audit, since without developing a general strategy and a detailed approach, a high-quality audit is impossible.
Let's consider the main stages of conducting an audit and cash transactions at ZAO Pole:
1) Determination of the purpose and main objectives of the audit, selection of regulations.
2) Drawing up an audit program for checking funds. 3)Determining the possibility of using the results of the internal audit work, through testing controls and substantive procedures.
The control testing program is a list of a set of actions designed to collect information about the functioning of the internal control and accounting system. The programs help to identify significant deficiencies, being an integral part of the working documentation of the audit, and contribute to the documentation of the audit process and its results (Table 4).
Table 4 - Test - questionnaire on accounting for funds and their use in CJSC "Pole"
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Control issues |
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Is money kept in a fireproof safe? |
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Is there an alarm system in the cash register? |
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Has an agreement been concluded with private security? |
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Does security accompany the cashier when he receives money from the bank? |
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Does the manager have second keys to the company safe? (where and who keeps duplicate keys) |
In the director's safe |
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Is this organization in collections? |
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Are cash balances withdrawn daily? |
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Are there surprise checks at the box office? |
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Is the chief accountant present when withdrawing cash balances? |
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Does the chief accountant check the cashier's reports? |
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Are incoming documents recorded in journals? |
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Does the cashier assign numbers to cash incoming and outgoing documents? |
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Does the cashier prepare cash receipts and expenditures? |
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Are entries made in the cashier's report: daily or as documents accumulate? |
As documents accumulate |
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In addition to cash, are the following kept in the cash register: forms of bonds, shares, vouchers to a nursing home, or a sanatorium? |
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Is all the proceeds received at the cash desk handed over to the bank? |
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Is it practice for other persons to receive money from clients or employees for goods or services (bypassing the cashier? |
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Are two signatures required on documents reflecting the issuance of money from the cash register? |
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Is it practice to issue money from the cash register under one signature (manager, chief accountant)? |
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Has the most typical correspondence of business transaction accounts typical for a given enterprise been developed (by debit, credit of account 50)? |
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Does the accountant reconcile the data from statements of sales of material assets, works, and services with the data on funds received at the cash desk? |
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Are receipts, expenses, and cash documents dated in the registration journal according to the date indicated in them? |
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Does the cashier submit cash reports to the accounting department daily? |
Establishing the correspondence of financial reporting data to cash accounting accounts.
Checking the organization of material liability.
Documentation of cash flows.
Identification of significant violations of cash accounting, reporting and compliance with legislation. Having identified significant matters requiring the auditor's professional judgment, together with the conclusions drawn on these matters, the auditor reflects them in the working papers in accordance with federal standard audit activity No. 2 “Documentation of the audit”.
Expressing an opinion on the reliability of reporting in terms of cash accounting.
All information provided for verification (balance sheet, profit and loss account) is divided into separate sections, which are classified according to the degree of risk and the size of the materiality boundaries.
At the next stage, it is determined in which areas a system check is carried out, and in which areas the individual elements are checked. This decision is influenced by the results of analytical procedures and evaluation of accounting and internal control systems.
Development and preparation of a general audit plan. During the development of the general audit plan, taking into account the degree of risk, audit procedures are determined for those positions in the annual financial statements that are not subject to systematic audit.
The general audit plan should reflect the strategy for conducting an audit of funds and their use, providing for the timing and schedule of the audit, the composition of the audit team, including, if necessary, the participation of attracted experts, all main types of work (from clarifying the assessment of the internal control system to drawing up a written information and audit report) indicating the period of implementation and performer.
Documents drawn up during the development of a plan for conducting an audit of funds and their use are an integral part of the working documentation.
When planning an audit, it is necessary to establish materiality - the maximum permissible amount of an erroneous amount that can be shown in published financial statements and be considered insignificant, i.e. not misleading users.
Let us determine the level of materiality of information in ZAO Pole (Table 5).
Table 5 - Value of the level of materiality of information in CJSC "Pole"
The materiality level is calculated as follows. Based on the results of the financial year, CJSC “Pole”, subject to inspection, determines financial indicators, listed in the first column of the table. Their value is entered in the second column in those monetary units in which the financial statements are prepared. From these indicators, percentage shares are taken, which are determined by the internal instructions of the audit firm and are applied on an ongoing basis, given in the third column of the table, and the result is entered in the fourth column.
The auditor should analyze the numerical values recorded in the fourth column. In the event that any values deviate significantly more and/or less from the rest, he can discard such values. Based on the remaining indicators, it is calculated average value, which can be rounded for convenience, but in such a way that after rounding its value would change by no more than 20% in one direction or another from the average value. This value is a single indicator of the level of materiality that the auditor can use in his work.
The procedure for finding the level of materiality, all arithmetic calculations, averaging, rounding and the reasons on which the auditor excluded any values from the calculations must be reflected in the working documentation of the audit. The specific materiality level should be approved at the end of the audit planning phase by the audit manager.
The arithmetic mean of the indicators in column 4 is:
(2.7 + 362.86 + 437.64 + 1787 + 453.62) / 5 = 608.76 thousand rubles.
(608,76 - 2,7) / 608,76 100% = 99,56%.
(1787 - 608,76) / 608,76 100% = 193,55%.
Since in both cases the deviation of the largest and smallest indicators from the average and from all others is significant, we decide to discard the values of 2.7 thousand rubles. and 1787 thousand rubles. and do not use them for further averaging. We find a new average value:
(362.86 + 437.64 + 453.62) / 3 = 418.04 thousand rubles.
The smallest value differs from the average by:
(418,04 - 362,86) / 418,04 100% = 13,2 %.
The largest value differs from the average by:
(453,62 - 418,04) / 418,04 100% = 8,51 %
Since the value is 362.86 and 453.62 thousand rubles. differ from the average slightly, we decide to leave them in further calculations. The new arithmetic mean will be:
It is permissible to round the resulting value to 418 thousand rubles. and use this quantitative indicator as the materiality level value. The differences between the materiality level before and after rounding are:
(418.04 - 418) / 418.04 100% = 0.01%, which is within 20%.
Audit risk is obtained from the equality:
Ar = Нр Рк Рн,
where Ar is audit risk,
Нр - inherent risk (25%),
Rk - risk of controls (60%),
Rn - risk of non-detection.
The risk of non-detection is determined based on the fact that the acceptable audit risk during an audit is 5%.
Рн = Ar/(Нр Рк) = 0.05/(0.25 0.60) = 0.33 or 33%.
Since audit risk is not high, the auditor may consider the plan acceptable.
The development and preparation of an audit program is the final stage of planning. The audit program is a detailed list of audit procedures indicating the audit period, performer and working documents.
The general plan and audit program must be drawn up and endorsed in the manner established by internal company standards.
During the audit of funds and their use, members of the audit team carry out the verification procedures specified in the audit plan and program. These procedures are performed in accordance with the requirements of the auditing rules (standards):
a) collection and evaluation of audit evidence (“Audit Evidence”);
b) assessment of the results of the sample and distribution of its results to the population being audited (“Audit sample”);
c) study of unusual deviations in financial reporting indicators (“Analytical procedures”);
d) checking the reliability of the initial and comparative indicators of the financial statements (“Primary audit of the initial and comparative indicators of the financial statements”);
e) obtaining and reviewing an expert’s opinion (“Use of an expert’s work”);
f)reflection of the implementation of audit procedures and their results (“Audit Documentation”);
g) assessment of the level of materiality and audit risk during the performance of specific audit procedures (“Materiality and audit risk”);
h) establishing compliance of financial and business transactions with applicable legislation (“Checking compliance with regulations during an audit”);
i) obtaining evidence (“Explanations provided by the management of the economic entity being inspected”);
j) checking and assessing the completeness and correctness of disclosure in the reporting of transactions with related parties (“Accounting for transactions with related parties”);
k) conducting an audit in the environment computer processing data (“Audit in the conditions of computer data processing”);
l) assessing the risk of distortion of financial statements and adjusting the procedures carried out (“Authors’ actions when identifying distortions in financial statements”);
m) quality control of work during the audit (“In-house audit quality control”).
By the end of the audit, the head of the audit team (project) summarizes the results of the audit of the client’s annual financial statements based on the working documents of all members of the audit team (Table 6).
The client's statement of responsibility is very important to the auditor, so he should ensure that the client provides him with a signed statement of responsibility in the event of restriction of access to information. The statement confirms that the members of the audit team were provided with all the documents, information and information necessary for the audit of the annual financial statements.
Table 6 - Audit program for checking funds and their use at ZAO Pole
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Audited organization Audit period Number of man-hours Head of the audit team Composition of the audit team Planned audit risk Planned level of materiality |
JSC "Pole" |
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from 01.01 to 31.12.09 |
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Zaritskaya A.V. |
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Zaritskaya A.V., Ivanov P.P. |
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List of procedures |
Information sources |
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A. Cash transactions |
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Conducting a surprise check of the cash register (if necessary) |
Cash documents, cash, cash book, account registers 50 |
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Checking the turnover and balances of account 50 “Cashier” and their compliance with the General Ledger data |
Cash book, statements, order journals, machine diagrams for account 50, General ledger |
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Spot check of the intended use of funds received from the bank, compliance with the cash limit and the established limit for settlements between legal entities in cash |
Bank statements, cash documents, statements, order journals, machine diagrams for accounts 50.51, etc. |
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Random check of the correctness of execution of cash documents and compliance of their data with entries in the Cash Book and accounting registers for account 50. Checking the correctness of the correspondence of accounts |
Cash documents, cash book, statements, order journals, machine diagrams for accounts 50, 51, 76, etc. |
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B. Banking operations |
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Establishing the number of bank accounts a company has and the legality of their opening |
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Checking the turnover and balances of funds in the current and other accounts of the enterprise and their compliance with the data of the General Ledger |
Sheets, order journals, machine diagrams for accounts 51, 55, 57, bank statements. main book |
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Selective verification of compliance of primary payment and settlement documents with bank statements for current and other accounts of the enterprise |
Bank statement, settlement and payment documents, contracts |
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Selective verification of the accuracy of reflection in the accounting registers of transactions for the receipt and debit of funds from the current and other accounts of the enterprise |
Bank statements, settlement and payment documents, machine diagrams, General Ledger |
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B. Currency transactions |
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Establishing the number of foreign currency bank accounts for an enterprise and the legality of their opening |
Agreements with banks for settlement and cash services |
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Checking the turnover and balances of account 52 “Currency Account” and their compliance with the General Ledger data |
Statements, order journals, machine diagrams for account 52, 57, bank statements. main book |
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Checking the legality of implementation and correctness of registration foreign exchange transactions |
Contracts, settlement and payment documents, bank statements for foreign currency accounts |
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Checking the compliance of primary payment and settlement documents with bank statements for a foreign currency account |
Bank statements, settlement and payment documents, contracts |
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Checking the correctness of taxation of foreign exchange transactions |
Accounting policies, machine diagrams, settlement and payment documents |
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Checking the accuracy of the reflection in the accounting registers of currency transactions for the receipt and debit of funds from a foreign currency account |
Bank statements on foreign currency accounts, settlement and payment documents, machine diagrams, General Ledger |
3.2 Assessing the correctness of cash transactions
At CJSC "Pole", when carrying out cash transactions, they are guided by the Procedure for conducting cash transactions in the Russian Federation, approved by decision of the Board of Directors of the Bank of Russia dated September 22, 1993 No. 40.
The enterprise receives funds from its current account strictly for specific purposes. Funds cannot be used for other purposes. Enterprises can keep funds in the cash register only within the established limit. The limit is determined by the bank servicing the enterprise in agreement with the manager. In excess of the established limit, funds can be stored only for the issuance of wages and benefits, but no more than 3 working days.
Cash transactions are carried out by the cashier. He is the financially responsible person. When applying for a job, an agreement on full financial responsibility must be concluded with a cashier. The cashier accepts and issues cash on the basis of primary documents of a standard interdepartmental form. Cash is accepted using cash receipt orders, which must be signed by the chief accountant. Cash issuance from the cash desk is carried out according to cash receipts, which are signed by the chief accountant and the head of the enterprise. Receipt and expense cash orders are signed by the cashier after transactions are carried out on them.
Expense and receipt cash orders are primary documents. They are written out in the accounting department of the enterprise. Before being transferred to the cash register of the enterprise, incoming and outgoing cash orders are registered in the accounting department in special journals for registering cash orders, separately by income and separately by expense. After accepting cash orders for execution, the cashier makes entries in the cash book. A cash book is a register of analytical accounting of cash transactions. Entries in the cash book are made as carbon copies. The second copy is the cashier's report, is torn off and submitted to the accounting department. At the end of the day, the cashier must calculate the total of income and expense transactions and withdraw the balance. The cashier's report with attached cash receipts and cash receipts is sent to the accounting department.
Synthetic accounting of cash transactions is maintained on account 50 “Cash” - an active, main, cash account.
Basic entries for cash flow at the enterprise cash desk:
1. Received at the cash desk from the current account: Dt 50 “Cash desk” Kt 51 “Current account”.
2. Received cash proceeds from the sale of: works, services, products, goods: Dt 50 “Cash desk” Kt 90/1 “Revenue”.
3. The balance of the accountable amount was handed over to the cashier: Dt 50 “Cash desk” Kt 71 “Settlements with accountable persons”.
4. Received at the cash desk to reimburse the debt for the shortfall: Dt 50 “Cashier” Kt 73 “Settlements with personnel for other operations.”
5. Received cash from debtors: Dt 50 “Cash” Kt 76 “Settlements with various debtors and creditors.”
6. According to the announcement for a cash contribution, the following was deposited into the current account: Dt 51 “Current account” Kt 50 “Cash desk”.
7. Issued for reporting: Dt 71 “Settlements with accountable persons” Kt 50 “Cash”.
8. Wages were issued from the cash register to the personnel of the enterprise: Dt 70 “Settlements with personnel for wages” Kt 50 “Cash desk”.
9. Issued in cash to repay accounts payable: Dt 76 “Settlements with various debtors and creditors” Kt 50 “Cash”.
10. Issued in cash at the expense of social insurance authorities: Dt 69 “Calculations for social insurance and security” Kt 50 “Cash”.
The cash register must be audited at least once a month. The results of the audit are documented in an act. Surpluses identified at the cash desk are credited to the enterprise’s income: Dt 50 “Cash” Kt 91/1 “Other income”.
The shortage is attributed to the financially responsible person (cashier).
The following entries are made in accounting:
1. If a shortage is detected: Dt 94 “Shortages, losses from damage to valuables” Kt 50 “Cash desk”.
2. The identified shortage is attributed to the financially responsible person: Dt73/3 “Calculations for compensation for material damage” Kt 94 “Shortages, losses from damage to valuables.”
3. Deposited in cash to the cash desk to pay off the debt for the shortfall: Dt 50 “Cashier” Kt 73/3 “Calculations for compensation of material damage.”
4. Withheld from wages to cover the shortfall: Dt 70 “Settlements with personnel for wages” Kt 73/3 “Settlements for compensation of material damage”.
The purpose of the audit of cash transactions at CJSC "Pole" is to establish compliance of the organization's accounting and taxation procedures for cash flow transactions with the regulatory documents in force in the Russian Federation during the audited period in order to form an opinion on the reliability of the financial statements in all significant aspects.
It is advisable to check cash transactions using the continuous method.
An audit of cash transactions at ZAO Pole is organized in the following sequence:
1) inventory of the cash register and examination of the conditions for storing funds;
2) checking the correctness of the documentation of transactions;
3) checking the completeness and timeliness of the receipt of funds;
4) audit of the correctness of writing off money as an expense;
5) checking compliance with cash and financial discipline;
6) checking the correctness of the reflection of transactions in the accounting accounts;
7) registration of inspection results.
Sources of information for auditing cash transactions are:
Cash book;
Cashier reports;
Receipt and expense cash orders (PKO, RKO);
Expense reports. List of accountable persons;
Bank statements;
Bank certificate confirming the established cash balance limit;
Check books;
Business agreements (including with banks);
Liability agreements;
Documents on cash register;
Cashier-operator books;
Registration log of PKO and RKO;
Journal of registration of issued powers of attorney;
Journal of registration of deposited amounts;
Journal of registration of payment (settlement and payment) statements;
Orders of the governing body;
Cash audit acts, inventory acts;
Accounting policy regarding document flow;
Journal-order No. 1 and statement No. 1 for recording cash transactions;
Main book;
Balance sheet of the enterprise (form No. 1), 2nd section of the asset;
Cash flow statement (form No. 4).
Having arrived at the inspection site, the auditor can immediately conduct an inventory of the funds stored in the cash register. It is carried out in the presence of the cashier and the chief accountant of the organization. The inventory results are documented in an act signed by the cashier and the chief accountant of the organization. The report is written audit evidence, and its data is necessary for the auditor for further verification.
Simultaneously with the inventory, the conditions for storing funds are checked, during which the auditor needs to find out:
a) whether the safety of money is ensured upon delivery from the bank;
b) is there a safe or fireproof cabinet for storing money and other valuables at the cash desk;
c) whether the organization’s cash desk is insured;
d) whether the rules for storing the keys to the safe are observed;
e) whether the established cash storage limit is observed on individual dates.
The auditor verifies the completeness and timeliness of the posting of money received for each check from the bank by reconciling the identical amounts recorded on the counterfoils of the checks and the bank statements. Checkbooks, counterfoils of used checks, as well as unused checks must be kept by the chief accountant. The organization determines the directions for using funds and their intended purpose at its own discretion.
The auditor must carefully check the completeness of the capitalization of proceeds from the sale of products of the main production, services of auxiliary and servicing industries, housing and communal services. In this case, you should check the entries in the cash book, cash receipt orders with reports, invoices and invoices for the sale of products (works, services).
All cases of an incomplete set of documents for cash transactions must be recorded by the auditor. Based on them, a total is calculated, which is compared with the credit turnover in the account 50 “Cash”.
Let’s check the correctness of the formation of the “Cash” indicator in the balance sheet of CJSC “Pole” as of 01/01/09.
The balance at the beginning of the day on December 30, 2008, according to the cashier’s report, was 2,932.98 rubles. The following primary documents are attached to the cashier's report for the day:
Receipt cash order No. 1411 dated December 30, 2008 for the amount of 1355.20 rubles, based on the sale of raw materials, reflected - Dt 50 “Cash” Kt 62 “Settlements with buyers and customers”;
Expense cash order No. 1074 dated December 30, 2008 for the amount of 238.18 rubles, basis - issuance of amounts on account, reflected - Dt 71 “Settlements with accountable persons” Kt 50 “Cash”;
Expense cash order No. 1075 dated December 30, 2008, payroll dated December 30, 2008 in the amount of 2050.00 rubles, basis - the salary of M.A. Rodnikovskaya was issued, reflected - Dt 70 “Settlements with personnel for wages” Kt 50 "Cashier".
The balance at the end of the day was 2,000 rubles, it was also reflected in the cashier’s report, the cash book and the accounting register - the analytical statement for account 50 “Cash” for 12/30/08.
The balance at the end of the period in the General Ledger for account 50 “Cash” is equal to 2000 rubles.
3.3 Checking current accounts
In accordance with the Law of the Russian Federation “On Enterprises and Entrepreneurial Activities,” each enterprise has the right to open a current account and other accounts in any bank institution for storing funds and carrying out all types of settlement, credit and cash transactions. Current accounts are opened for enterprises that have the status of a legal entity and are on an independent balance sheet.
The procedure for opening a current account is regulated by the instructions of the Central Bank of the Russian Federation, according to which each organization can open a current account in one or more banks of its choice. Clients have the right to open the number of current accounts they need. To open them, the following documents are provided to the bank:
application for opening an account;
copies of the charter and constituent agreement, certified by a notary;
a notarized copy of the enterprise registration certificate;
a card with sample signatures of loan administrators (the head of the enterprise and the chief accountant), an imprint of the enterprise's seal, certified by a notary in two copies;
certificates of registration ( tax office, pension fund, social insurance and security authorities).
After opening a current account, the bank assigns it a specific number, which is indicated in all settlement and payment documents submitted to the bank. Funds credited in the form of proceeds from sales of products are concentrated in the current account. bank loans and other income. Transfers are made from the current account to suppliers for products, financial authorities, to various creditors, are repaid bank loans, and also provides cash for payroll and other expenses. The bank issues money or non-cash transfers from a current account with the consent of the owner of the current account. However, in certain cases, the legislation provides for the debiting of funds from the current account in an indisputable manner (collection of overdue payments to the budget, according to writs of execution, by order of state arbitration), the bank can write off interest for using a loan, interest on overdue loans, fees for settlement cash service.
Periodically, the bank issues current account statements to the account owner. A current account statement is the second copy of an organization’s personal account opened for it by the bank. It shows the balance at the beginning of the period, the movement for the reporting period broken down by each operation and the ending balance. The current account statement is a register of analytical accounting of transactions on the current account. All documents on which amounts are credited and debited are attached to it. The received extracts with attached documents are subject to careful checking in the accounting department. In the fields of the verified statement, account codes are entered that correspond with account 51. Statements from the current account serve as the basis for accounts under synthetic account 51 “Current Account”. This is an active, main, cash account.
The following entries are made in accounting:
1. Money was received into the current account from the company’s cash desk: Dt 51 “Current account” Kt 50 “Cash”.
2. The proceeds from the sale of products are credited to the current account: Dt 51 “Settlement account” Kt 90/1 “Revenue”.
3. The proceeds from the sale of other assets are credited to the current account Dt 51 “Current account” Kt 91/1 “Other income”.
4. Bank loans are credited to the current account: Dt 51 “Current account” Kt 66 “Settlements for short-term loans and borrowings” Dt 51 “Current account” Kt 67 “Settlements for long-term loans and loans."
5. Fines, penalties, penalties were received on the current account: Dt51 “Current account” Kt 91/1 “Other income”.
6. Credited from debtors to pay off debts: Dt 51 “Current account” Kt 76 “Settlements with various debtors and creditors.”
7. Issued by check in cash to the cash desk of the enterprise: Dt 50 “Cash desk” Kt 51 “Current account”.
8. Transferred to repay debts to suppliers: Dt 60 “Settlements with suppliers and contractors” Kt 51 “Settlement account”.
9. Transferred to pay off tax debts to the budget: Dt 68 “Calculations for taxes and fees” Kt 51 “Current account”.
10. Transferred to pay off debts to social insurance and security authorities: Dt69 “Calculations for social insurance and security” Kt 51 “Current account”.
11. Transfer to repay debt on a loan: Dt 66, 67 “Settlements for short-term loans and borrowings” Kt 51 “Current account”.
Information sources:
a) payment order (to whom it is transferred);
b) payment request (there was acceptance - payment with the consent of the enterprise or not, the expediency of the request);
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Planning is the initial stage of conducting an audit. It includes the development by the audit organization of a general audit plan indicating the expected volume, schedules and timing of the audit, as well as the development of an audit program that determines the volume, types and sequence of audit procedures necessary for the audit organization to form an objective and informed opinion on the organization’s financial statements .
An audit organization must begin planning an audit before writing a letter of engagement and before concluding an agreement with an economic entity to conduct an audit.
The overall plan should guide the implementation of the audit program. In general, the audit organization must provide for the duration of the audit and draw up a schedule for conducting the audit, preparing a report, and an audit report. In general terms, the audit organization determines the method of conducting the audit based on the results of the preliminary analysis, assessment of the reliability of the internal control system, and assessment of audit risks. If a decision is made to conduct a sample audit, the auditor forms an audit sample.
The audit program is a development of the general audit plan and represents a detailed list of the content of audit procedures necessary for the practical implementation of the audit plan. The program serves as detailed instructions for auditor assistants, and for the heads of the audit organization and audit team - at the same time as a means of monitoring the quality of work. The audit program should be designed as a program of tests of controls and as a program of substantive audit procedures. A control test program is a list of a set of actions designed to collect information about the functioning of the internal control and accounting system. Tests help identify significant deficiencies in the controls of an economic entity. The audit procedure is essentially a detailed check of the correct reflection of turnover and account balances in the accounting report.
Depending on the conditions of the audit and the results of the audit procedures, the program may be revised. The reasons and results of changes should be documented.
The preparation and drawing up of an audit program is regulated by the Rule (standard) of auditing activities “Audit Planning”.
When preparing the program, the auditor evaluates the effectiveness of internal control over the movement of cash and other valuables in the cash register. Compliance with cash discipline is preliminarily assessed, difficult areas that require special attention are identified, and control procedures are planned. In accordance with the auditing rule (standard) “Audit Planning”, the audit organization must agree with the client on the main organizational issues related to the audit, down to factors.
At the pre-planning stage, the auditor should obtain information about:
* external factors influencing economic activity economic entity, reflecting the economic situation in the country (region) as a whole and its sectoral characteristics;
* internal factors influencing economic activity
ѕ information obtained from conversations with the management and executive staff of the economic entity;
* information obtained during the inspection of an economic entity, its main areas, warehouses.
The section of the audit program for checking cash transactions should include the following questions and areas of audit:
- - taking inventory of the availability and checking the storage status of cash and other valuables at the cash desk;
- - checking the completeness and timeliness of the receipt of funds received at the cash desk;
- - research into the correctness of writing off money for expenses;
- - checking compliance with cash and financial discipline;
- - checking the correctness of the reflection of transactions in the accounting accounts;
- - documenting materials and inspection results; conclusions and proposals for the results of the audit.
Drawing up an audit plan is preceded by an assessment of the state of the internal control system for cash transactions. To assess the state of accounting and the internal control system, it is necessary to draw up a list of questions that will give a preliminary assessment of the enterprise’s compliance with the procedure for performing cash transactions and non-cash transactions with funds. The questionnaire is presented in Tables 3.2. and 3.3.
Table 3.2. 3.1.-¤F Questionnaire¤F sheet for¤F audit¤F examination of the cash register and cash transactions of Vodogrey LLC
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What to request |
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Has an agreement been concluded with the cashier on full individual financial responsibility? |
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Is the cash desk provided with a separate separate room? |
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Is the cash register equipped with a safe? |
Inspection of the safe |
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Is there an alarm at the cash register? |
Inspection of the cash register |
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Who has duplicate keys to the safe? |
At the director's |
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Who has the right to sign PKO and RKO |
Signature example |
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Who has the right to sign the cash register as a manager? |
Only for the manager |
Signature example |
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Does the enterprise maintain a PKO registration log? |
PKO registration log |
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Does the enterprise maintain a cash register register? |
RKO registration log |
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What is the limit set by the bank on the cash balance in the cash register in the reporting year? |
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Has the company set deadlines for sudden audits of the cash register by order of the manager? |
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Did the cashiers change at the company during the period under review? |
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Was an audit carried out when changing cashiers? |
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Has a commission been appointed by order of the head of the enterprise to conduct an audit of the cash register? |
Order of appointment |
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Last date for surprise cash audit |
Cash register audit report |
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Does the enterprise sell finished products and services to the public for cash? |
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Does the company have cash registers? |
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Does the company maintain a cash book? |
Cash book |
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Is a cashier's report prepared daily on the cash book? |
Cash reports |
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Do employees of the enterprise receive money from third-party organizations by proxy? |
Cashier's book |
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Is there a log of issued powers of attorney? |
Register of powers of attorney |
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Is a payroll log kept? |
Statement register |
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When issuing money for household needs, is there a period for which it is issued? |
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Does the cashier keep a register of deposited amounts? |
Register of deposited amounts |
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Does the company keep a register of depositors? |
Depositor log book |
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Who is responsible for maintaining the register of depositors? |
To the cashier |
Table 3.3. - Tests for checking transactions on the current account of Vodogrey LLC
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Possible answer |
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The company has one current account |
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Do the following apply to non-cash payments?
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In what form are cash payments made?
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Bank statements are received the next day after the transaction is completed |
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Does any of the employees (besides the manager and chief accountant) have the right to sign bank documents? |
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Does the agreement provide for the debiting of funds from the client’s account at the request of third parties? |
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Is there a log of primary documents for the current account? |
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Is there a written application from the enterprise to appoint persons to carry out orders on behalf of the enterprise for the transfer and withdrawal of funds from the account? |
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Are the data from analytical and synthetic accounting of settlement transactions reconciled? |
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Are the data indicated in the bank statement verified with the data indicated in the supporting documents? |
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Are the closing balances on the previous statement reconciled with the beginning balances on the next statement? |
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Are the data indicated in the statements verified with the data indicated in the order journal No. 2 and statement No. 2 |
According to this questionnaire, preliminary conclusions can be drawn that Vodogorey LLC has a number of negative aspects:
- - The cash register does not have a separate room, which weakens the protection of funds and other material assets of the enterprise from theft;
- - The company has not established deadlines for sudden audits, which can lead to distortion of accounting data;
- - When changing a cashier, an audit must be carried out; this is not the case at the enterprise;
- - The enterprise does not have a cash register, but according to Decree of the Government of the Russian Federation dated May 6, 2008 No. 359 (as amended on February 14, 2009), this is not a violation if the enterprise has strict reporting forms equivalent to checks. At Vodogrey LLC, such a form is invoices for the release of goods;
- - The enterprise has no restrictions on the timing of the use of funds for business needs, which reduces the ability to control the expenditure of funds.
Before conducting a cash audit, an enterprise must enter into an agreement with an audit firm for a cash audit, which will indicate exactly what actions the auditor will perform and within what time frame during this audit. The contract must be accompanied by a plan and program that was specially developed by the audit organization in order to fulfill the obligations under the proactive audit contract at the enterprise. In this case, this is a plan and program for auditing the enterprise’s funds (Table 3.4.).
Table 3.4. - General plan for the audit of funds of the enterprise Vodogrey LLC
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Audited organization |
Vodogrey LLC |
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Audit period |
3rd quarter 2014 |
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Number of man-hours |
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Muzykantov R.S. |
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Composition of the audit team |
Alexandrova M.A. |
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Planned audit risk |
Middle |
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Planned types of work |
Period |
Performers |
Audit methodology |
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Preliminary familiarization with the enterprise, inspection legal basis activities of a legal entity. |
Alexandrova M.A. |
inspection |
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Alexandrova M.A. |
Inspection, recalculation |
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Audit of cash accounting operations. |
Alexandrova M.A. |
Inspection, analytical procedures |
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Audit of transactions related to accounting of funds in a current account and monetary documents. |
Alexandrova M.A. |
Inspection, request. |
The audit program is a development of the audit plan and is a list of audit procedures that are necessary for each specific part of the audit. There are two types of audit programs:
- 1) control test programs that contain procedures for collecting information on the functioning of the enterprise’s internal control system;
- 2) programs for checking account balances, which contain procedures for collecting information directly about account balances.
The audit program includes:
auditors' work schedule: deadlines for preparing and submitting materials obtained during the audit for drawing up an audit report and other documents; time spent on individual types and areas of inspections, taking into account and within the limits of the expected remuneration, in order to ensure profit;
detailed procedures; details in writing all procedures necessary to implement the audit plan, as well as the goals and objectives related to each audit area. The detail of the program is explained by the fact that it, as a rule, is a kind of instruction for employees participating in the audit, as well as a tool for monitoring the correctness of the work;
control of audit work; The program assumes that all members of the audit team are aware of the requirements that apply to them. The program is also a basic document for monitoring the completion of tasks by junior auditors and assistants in the audit team;
Determination of the number and responsibilities of personnel: The program determines the number of personnel required for the audit, the volume and sequence of their work. As a rule, the audit team consists of the main auditor, junior auditors and assistants.
Typically, an audit program includes testing of transactions, analytical procedures and testing of balance sheet items;
development of transaction tests to check quantitative errors and irregularities in order to confirm the correctness of financial reporting items. These tests determine:
availability of appropriate permission to conduct operations;
correctness of entries and summing up in journals and books of analytical accounting;
correctness of transfer of information to the General Ledger;
the use of analytical procedures, which are the cheapest and fairly fast and effective method of verification. They are widely used to gain insight into a client's activities; assessing the financial stability of the enterprise; identifying possible errors in financial statements; reducing the number and volume of tests;
testing of balance sheet items is focused on the general ledger. The most effective procedure is analysis (an error can be detected very quickly), then procedures related to familiarization with the ICS, and ICS tests. The most labor-intensive procedure is testing operations.
To develop audit programs, application software packages can be used that automate the selection of a scheme of independent examination procedures in accordance with the characteristics of the client and carry out automated selection of the program project. In accordance with the client's plan and circumstances, necessary changes are made to the selected program project. The cash audit program is presented in Table 3.5.
Table 3.5. - Cash audit program
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Audited organization |
Vodogrey LLC |
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Audit period |
3rd quarter 2014 |
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Number of man-hours |
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Head of the audit team |
Muzykantov R.S. |
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Composition of the audit team |
Alexandrova M.A. |
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Planned audit risk |
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Planned types of work |
Period |
Performers |
A source of information |
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Preliminary familiarization with the institution, checking the legal basis of the activities of the legal entity. |
Alexandrova M.A. |
Charter of the enterprise, certificate of inclusion in the Unified State Register, |
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Assessment of the general state of accounting and financial statements. Checking the correctness of reflection of individual business transactions in accounting. |
Alexandrova M.A. |
Turnovers of the General Ledger according to the accounting accounts of the enterprise for the 3rd quarter of 2014, the balance sheet of the enterprise for the 3rd quarter of 2014. |
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Audit of cash accounting operations at the cash desk:
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Alexandrova M.A. |
Cash report, cash documents, primary documents, balance sheet for the 3rd quarter of 2014. Account analysis 50 "Cash", Balance sheet form No. 1. |
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Audit of transactions for accounting of funds in a current account, monetary documents: Checking the identity of the indicators of primary accounting documents with accounting registers |
Alexandrova M.A. |
Balance sheet, general ledger of accounts
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A properly designed audit program will help the auditor in the future to consistently study various areas of accounting for cash transactions, avoiding repetitions and omissions, and purposefully collect the necessary evidence and document it.
