2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Every entrepreneur understands that effective management and rational allocation of funds are one of the key components of success. Therefore, in order to maintain a positive development dynamics, it is necessary to carry out various activities in a timely manner aimed at collecting and analyzing all kinds of data on the operation of the enterprise. Audits are one of the most common ways to monitor and control the economic activities of a company. Such an inspection makes it possible to highlight the compliance of the reports of the accounting department with the existing regulations that are established by the legislative authorities, as well as the implementation of all the rules described in the economic and legal documentation.
At present, two types of audits are distinguished: mandatory and initiative. Let's take a closer look at them.
Initiative checks can be carried out depending on the wishes of the entrepreneur himself. Thus, this type of audit can be carried out at any time, as well as in the volumes that are declared by the organization. For example, one can checkonly available cash transactions. A feature that initiative audits have is the ability to exercise complete control over all calculations and operations. Without fail, such a procedure is not carried out due to the significant amount of required procedures.
Mandatory audit, in turn, is an event that takes place every year and is regulated by the legislative authorities. As a result, control and monitoring of financial statements, as well as financial and economic analysis of the economic activity of the enterprise is carried out.
Audit checks require a conclusion, which determines the effectiveness of work and simplifies the organization's interaction with banks, tax inspectorates and others.
It should also be noted the order of events of this kind. To begin with, it is necessary to create an information base on the basis of which control will be carried out. Then various forms of accounting are examined, the level of their reliability and completeness is revealed. Next, the availability of personal job descriptions for all employees of the accounting department is checked. This is followed by a conclusion about the reliability of displaying the economic activities of the organization in the reporting documentation, as well as the compliance of the existing accounting system and the nature of the enterprise.
The audit allows you to identify the presence and composition of administrative documentation, the general accounting policy, as well as the degreecompliance with it, methods of accounting and their completeness of disclosure, compliance with the forms and deadlines for the adoption of papers that describe the nature of the company's activities. The results of the audit illustrate the financial condition and property results of labor.
