There are seven main principles of audit, each of which is aimed at achieving the most effective activity: confidentiality, honesty, independence, objectivity, professional competence, integrity and professional behavior.
Confidentiality
Auditors and audit organizations are obliged to observe the safety of documents that they receive during the audit. Neither these documents, nor their copies, nor their parts should fall into the hands of third parties, and it is also impossible to disclose the information they contain, even orally without the permission of the owner of the provided documentation. The exceptions are cases provided for by the legislation of the Russian Federation. The excuse for disclosing information is not the absence of material or other damage. In addition, the principle of confidentiality is respected even after the termination of the relationship with the client and has no time limit, about which the auditors must be notified.
Honesty
The auditor in the performance of official duties must follow his professional duty and general moral standards.
Independence
The auditor or audit firm should not have any related, financial or other interest in the results of the audit being conducted. The auditor should also not depend on a third party to exert pressure on him regarding the outcome of the audit. The auditor's independence is ensured on two points: formal characteristics and factual circumstances.
Objectivity
The auditor should be impartial and not subject to any influence in the process of conducting the audit and performing his professional duties.
Professional competence
This includes the necessary knowledge of the required information volume and skills, thanks to which the auditor will be able to provide quality professional services. In this regard, the audit firm must have trained specialists and independently control the quality of their work.
Good faith
The auditor must provide professional services with care, promptness and thoroughness. He is obliged to treat his work with due responsibility and diligence, but this should not be considered as a guarantee of error-free testing.
Professional conduct
This principle is based on respecting the priority of the public interest and the duty of the auditor to uphold the reputation of his profession. He should not commit acts that are incompatible with his services, lower confidence in the specialist and damage the public image of the profession.
