Control and audit

Audit and audit are engaged in research of the same subject - financial and economic activities - using uniform methodic methods and procedures of financial and economic control. With the help of their tools, most of the negative phenomena in the functioning of an economic entity are detected with the aim of eliminating them and preventing them from occurring in future Periods. In other words, control and audit quite actively influence the identification of mismanagement, violations of the current legislation. They contribute to compensation for damage caused by specific persons.

Control and audit use only sources of the necessary information - primary accounting documentation, balance sheet and other reporting of business entities, registers of accounting.

However, there are significant differences between the above concepts. Thus, audit is an independent financial and economic control that is chosen by the manager voluntarily with a specific formulation of the questions put to the study to obtain reliable conclusions for the purpose of improving its operations, accounting, marketing and on-farm control.

Control and audit should correspond to the interests of the shareholders and creditors of the enterprise, consisting in the correct distribution of the profits due to them. At the same time, the entrepreneur should have confidence in the correctness and timeliness of payments with the budget. Therefore, in case of conflict situations with the tax service, it has reliable protection in the person of the auditor.

Control and audit of financial and economic activities study the object in dynamics after the implementation of certain economic processes. A common characteristic for both audit and audit is the justification of the conclusions on the evidence, documented. The revealed infringements and lacks of the legislation which are responsible for regulation of economic activity, have addressability in a part of legal and material responsibility. In addition, audit, control and audit are based on concreteness and targeting in determining the amount of damage, loss and shortage of values.

Another important feature of the audit is its implementation based on the legislation on enterprises. At the same time, the owner sets the goal of determining the extent to which the enterprise manager fulfills his will in economic activities.

In the process of production there is a movement of fixed assets. Control and audit of fixed assets begins with the analysis and verification planned at the enterprise for the acquisition of fixed assets, as well as the implementation of capital investments and the commissioning of updated production facilities. The auditor evaluates the system for planning the receipt of fixed assets with the validity of such plans. He uses the mechanisms of comparing the volume of capital investments with a certain increase in the volumes of finished goods and labor productivity.