Some heads of organizations in the process of economic activity use the so-called financial audit. It consists in checking accounting documents, assessing the financial condition of the enterprise. Financial audit is carried out by specialist auditors.
In the 19th century, such an economic direction as audit was born. This is due to the emergence of numerous joint-stock organizations. The heads of the companies realized that it was necessary to exercise control over all business operations, evaluate innovations, and obtain information about the management of the organization.
Financial audit came to Russia in the 90s, but initially it was aimed only at identifying violations of the Tax Code, as well as to control materially responsible persons.
At that time, the level of knowledge of auditing was not high enough in Russia, so young specialists left for training in foreign countries. Now there are various academies, courses for training such personnel. Having received education, the auditor must join the Russian Collegium of Auditors. Also, to confirm the diploma, it is necessary to listen to lectures annually and pass certification. It is these specialists who conduct the audit.
A financial audit can be carried out both at the request of the head of the organization, and as part of annual audits. Most often it is carried out before tax audits, to reduce litigation risks, during the reconstruction of an enterprise, as well as in the case of resale of a business. The audit must be carried out by open joint stock companies, insurance and credit organizations. Organizations that have an annual revenue of more than 50 million rubles are also subject to audit.
The objectives of a financial audit are:
- assessment of all changes in the enterprise;
- control and analysis of all business transactions;
- the possibility of using and applying investments.
After the audit, the auditors must make a written conclusion, which will contain conclusions, risks, possible solutions to some problems.
