Risk indicators in external control of audit organizations` activities

Abstract

Purpose: to improve the accepted approach to the identification and categorization of risks of damage to legally protected values in the federal state control of the activities (supervision of the activities) of audit organizations by the Federal Treasury and its territorial bodies. Discussion: the ongoing reforms of external quality control of audit organizations providing audit services to socially significant organizations are aimed at ensuring the protection of legally protected values. However, the planned configuration of this system is not sufficiently conditioned by the protection of these values; the initial assignment of audit organizations to the highest risk category is also associated with the continuation of their clients' activities and is not related to audit violations of mandatory requirements; there are reserves for more efficient use of the resources of the Federal Treasury as a subject of control. Results: in order to overcome these problems, it is proposed to clarify the procedure for classifying audit organizations as extremely high risk based on the established facts of violations of mandatory requirements, the corresponding change in the risk category to extremely high; it is recommended to establish the auditor's obligation to disclose information in the auditor's report on the inapplicability of the assumption of continuity to the activities of a socially significant organization in order to protect legally protected values; it is proposed to soften the regime of inspections of audit organizations providing audit services to socially significant organizations and not violating mandatory requirements in order to more effectively use the resources of the federal state control (supervision) system.