Methodological support for the analysis and evaluation of the accounting policy of the organization

Abstract

Purpose: to develop methodological support for the analysis of the accounting policy of an economic entity used for the preparation of general- purpose financial statements performed by internal and external auditors and other interested parties. Discussion: the main tasks of external and internal auditors include the analysis and evaluation of the organization's accounting policy for its compliance with the requirements of regulatory legal acts, the specifics of its activities, and its practical application. The methodological support for such an analysis should be developed by them independently. Changes in corporate legislation, financial reporting and audit standards, and the socio-economic situation lead to the need for constant updating of approaches to the audit assessment of accounting policies. In addition to auditors, such an analysis should be carried out by persons assessing the financial condition of an economic entity, since obtaining an understanding of accounting policies is fundamental to the interpretation of financial statements. Results: the article offers methodological recommendations for the analysis of the accounting policy of the organization by auditors, other persons interested in assessing the financial condition of the organization on the basis of its financial statements.