Виконання завдань з аудиту елементів та статей фінансової звітності як окремих об’єктів: вимоги та рекомендації Міжнародних стандартів аудиту
Conducting the Engagements of Audit of Specific Elements and Items of a Financial Statement as a Separate Objects: Requirements and Recommendations of International Standards on Auditing

Summary/Abstract: Selecting one object should simplify the auditor's work, since there is an opportunity to concentrate only on a narrow circle of operations, processes, etc. But on the other hand, the orientation of the International Standards on Auditing on regulating issues related to the audit engagements of the audit of entity’s complete set of financial statements, causes problems in their practical application in the process of conducting audits of certain articles, accounts, elements, items of financial statements. The purpose of this study is to systematize the requirements and recommendations of the International Standards of Auditing (ISA), in particular ISA 805 "Special Considerations - Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement", in the context of conducting of audits of single financial statements, items, accounts or articles of the financial statements in order to elaborate the directions of the development of organizational and methodological support for such engagements. It is substantiated that in spite of the existence of various audit classifications, the classification of audit services needs to be clarified in order to clearly distinguish the engagements of audit of single financial statement, accounts, articles and elements of financial statements. Their additional detailing into individual and integrated engagements, individual and complex engagements are offered. It is substantiated that the organizational stages and methods of conducting such engagements should regulate relations with management personnel and include all the specific stages required in the process of audit of financial statements, in particular, the consideration of fraud, legislative and regulatory acts, the conducting of studies of related parties, accounting estimates, including fair value accounting estimates, subsequent events, other information, going concern, etc. A significant attention in ISA 805 "Special Considerations - Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement" is devoted to the issue of an auditor’s report on the entity’s complete set of financial statements and on a single financial statement or on a specific element of those financial statements in case if such engagements are performed simultaneously. Despite the fact that the implementation of such integrated engagements is not traditional for the Ukrainian market of audit services, the study of their features is an important direction for further research.

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