AUDIT STANDARDISATION DEVELOPMENT BY EXAMPLE OF THE ISA 570 (REVISED) «GOING CONCERN»

Abstract

Importance: standardisation as a common feature of many processes in the modern world. Standardisation in external audit sphere. The quality and adaptability of standards international analogues are important for audit practitioners. Purpose: to assess the quality of international standards on auditing, which have approved and applied in Russia, by example of the ISA 570 (revised). The standard under study is important not only for auditors, but also for accountants, management and other interested parties, for example, in the objective bankruptcy date determining. Research design: we independently translated the original ISA 570 standard (revised) into Russian language, compared translation with the Russian analogue, studied scientific publication’s researches and comments on these documents. Results: in general, the standard’s texts are generally equivalent to each other. The ISA 570 (revised) content “does not stand out” from similar documents used in Russia. However, to the impact increase of the standard’s application, further adaptation to Russian legal and economic realities is necessary for the international standards.