Criteria for mandatory audit. Criteria for a mandatory audit Where to provide an audit report for the year

Our state is striving for European indicators in terms of financial reporting. Therefore, another step towards increasing its publicity and transparency was the introduction of international auditing standards (ISA) in the Russian Federation from January 1, 2017 (Orders of the Ministry of Finance of Russia dated October 24, 2016 N 192n, dated November 9, 2016 No. 207n).

For audit firms, this means the following changes:

increase in the number of audit procedures
increase in the amount of data needed to analyze the activities of audited companies
new quality standards for statutory audit
new standards of information in the auditor's report
introduction of a modified opinion in the conclusion

For audited companies, this means:

Pros:	Minuses:
quality improvement in business risk assessment a conclusion that will contain not only an assessment of the company's financial statements, but also draw attention to significant risks for the business, etc. extended report information for accounting and for external and internal interested users: shareholders, board of directors, etc.	increase in the cost of statutory audits from 2017. Extending the timeframe for providing an audit opinion increase in the cost of bank loans for companies (due to an increase in the level of transparency of the company's activities and the reflection in the audit report of all identified business risks)

Information on taxes, fines, income and expenses, headcount will appear on the website of the Federal Tax Service

Information about economic entities is becoming more open. From June 1, 2016, they are no longer tax secrets (amendments to Article 102 of the Tax Code of the Russian Federation were introduced by Federal Law No. 134-FZ of May 1, 2016):

information on the average number of employees of the organization;
the amount of taxes and fees paid by the organization, with the exception of taxes paid when importing goods into the EAEU and tax agents;
the amount of income and expenses according to financial statements.

From July 1, 2017, it is planned to begin posting this information in the public domain on the official website of the Federal Tax Service on the Internet.

In addition, the website of the Federal Tax Service will publish information on the amounts of arrears, arrears in penalties and fines, the special regimes applied, and the participation of taxpayers in consolidated groups.

Due to the appearance of additional information about legal entities in the public domain, taxpayers get an additional opportunity to assess the risks when choosing a counterparty, and there will also be an additional argument to prove to the Federal Tax Service in case of claims that due diligence was exercised during the conclusion of the transaction.

Mandatory audit - A complex approach

Information about the mandatory audit is posted on the Federal resource

From October 1, 2016 in Russia, the results of a mandatory audit of accounting (financial) statements become public. Appropriate amendments were made to the Federal Law "On Auditing". Organizations subject to mandatory audit must now enter information on the results of the audit into the Unified Federal Register of Information on the Facts of the Activities of Legal Entities (hereinafter referred to as the EFRS www.fedresurs.ru) within 3 working days after receiving the audit report. Such information includes:

name, TIN, OGRN, SNILS of the audited entity;
name (full name), TIN, OGRN (OGRNIP), SNILS of the audit organization (individual auditor);
a list of accounting (financial) statements in respect of which the audit was carried out;
the period of preparation of the accounting (financial) statements in respect of which the audit was carried out;
the date of the auditor's report;
the opinion of the audit organization (individual auditor) on the reliability of the accounting (financial) statements of the audited entity, indicating the circumstances that have or may have a significant impact on the reliability of such statements.

Violation by an official of the audited organization of the obligation to disclose such information may result in an administrative fine provided for in parts 6-8 of Article 14.25 of the Code of Administrative Offenses of the Russian Federation, up to 50 thousand rubles or disqualification for a period of one to three years.

MANDATORY AUDIT - A COMPLEX APPROACH

In addition to the standard mandatory audit procedures aimed at confirming the accounting (financial) statements, we check taxes, the correctness of the calculation of the taxable base and the correct filling of declarations.

Calculate the cost

Since 2018, audit secrecy is likely to be canceled

The relevant Draft Law No. 96436-7 on amendments to Articles 82 and 93.1 of the Tax Code of the Russian Federation has already been submitted to the State Duma.

Recall that, according to the current wording of Article 82 of the Tax Code of the Russian Federation, when exercising tax control, it is not allowed to collect, store, use and disseminate information about a taxpayer obtained in violation of the requirement to ensure the confidentiality of information constituting professional secrecy of other persons, in particular lawyer secrecy, audit secrecy.

However, from January 1, 2018, it is proposed to exclude audit secrecy from this article. In addition, it is proposed to establish the right of IFTS officials to demand from auditors documents (information) received by them about the taxpayer in the course of auditing activities and in the provision of other audit-related services. The requested documents must be related to the calculation and payment (withholding, transfer) of the tax (fee) and can be requested from auditors if the taxpayer has not submitted them to the IFTS on his own.

So, the sphere of accounting and reporting, as well as the tax obligations of companies, is becoming more transparent.

To March 2018 when closing 2017 fiscal year not to end up with an audit report containing numerous reservations, we advise companies to:

Order an audit at the beginning of the year (in the first, second quarter).
This way you can eliminate the repetition of errors in your reports in subsequent quarters and reduce the burden on accounting at the end of the year.
Break down the audit by quarters.
Its cost will be evenly distributed throughout the year and will not require a one-time diversion of funds from the company's business activities.
Do not treat the audit as a formal procedure only for the submission of accounting (financial) statements.
Why deprive yourself of the opportunity to receive high-quality feedback on the state of affairs of the company.
Seriously approach the choice of an audit company.
The market is saturated with many offers, both from individuals and from various companies. Find out what you need to pay attention to here.
Do not forget that for the lack of an audit report or failure to enter relevant information into the EFRS, you can get a large fine.

What you will get in cooperation with "Pravovest Audit":

As part of the audit agreement, clients receive bonuses in the form of useful services during the reporting year
assistance of tax lawyers and lawyers as additional guarantees - within 3 years after the audit.
when choosing auditors for 2017 in advance, the company fixes the price offer in rubles at the current cost, while services are provided until the end of March 2018.

Additional bonuses:

from the moment of conclusion of the contract, it is possible to directly consult with auditors and tax lawyers during the year and until March 31, 2018;
VIP-seminars in the "Round table" format. Practice of application of legislation, discussion of recent changes. Professional accountants receive a 10 hour IPA certificate for each visit;
summaries of the seminars;
at the choice of the Customer, additional legal expertise of standard contracts, constituent and other documents can be carried out; assessed the prospects for litigation; other necessary actions have been taken to eliminate economic risks in the activities of the organization;
analysis of the tax burden and the likelihood of a tax audit according to the methodology of the Federal Tax Service, determine the amount of possible tax risks, reserves and ways to reduce costs;
Base audit 1C.

An audit is an audit of accounting (financial) statements conducted by an independent auditor, the purpose of which is to determine how reliable these statements are. In some cases, an audit should be carried out on a mandatory basis, and not only at the request of the organizations themselves. In this article, we will consider in which case an audit is mandatory, what are its criteria in 2017, and what sanctions can follow if an organization ignores a mandatory audit.

Mandatory audit 2017

A mandatory audit is carried out annually. Its results are reflected in the audit report - an official document intended for users of the audited accounting (financial) statements. The deadlines for a mandatory audit are not established by law, and are determined by the organization itself. At the same time, it should be borne in mind that the audit report must be submitted to Rosstat along with the annual accounting, or no later than 10 business days after the date of the audit report, but no later than December 31 of the year following the reporting one (Article 18 of the law dated 06.12.2011 No. 402 -FZ).

In conclusion, the auditor expresses his opinion on the reliability of the audited financial statements and indicates the circumstances that may significantly affect this reliability. Having completed the statutory audit, an individual auditor or an auditing firm sends its opinion to the audited person.

Having received the audit report in hand, the organization, through a special operator, places the results that received a mandatory audit in the "Unified Federal Register of Information on the Facts of the Activities of Legal Entities".

Mandatory audit: criteria 2017

Criteria determining the need for a statutory audit are certain conditions that an organization must meet. Let's list what these criteria are:

organizational and legal form of a legal entity (for example, all joint-stock companies are subject to mandatory audit);
implementation of a certain type of activity (insurance, banking, etc.);
certain financial indicators (the income or value of the legal entity's assets exceeds a certain limit);
the legal entity is a specific state corporation or organization (Central Bank, Russian Railways, etc.);
the need to present consolidated financial statements.

Organizations subject to mandatory audit

The Law “On Auditing Activities” dated December 30, 2008 No. 307-FZ contains a list of cases of mandatory audit, but it is not exhaustive. The most complete subjects of mandatory audit are listed in the "Information of the Ministry of Finance of the Russian Federation" dated 11.01.2017.

The cases of statutory audit indicated in the "Information" are a table of 69 items grouped according to the main criteria, indicating the norms of legislation, reporting, which must be checked, as well as requirements for auditors who have the right to conduct such checks.

So, based on the criteria, a mandatory audit is carried out by the following organizations:

joint stock companies, funds, federal state unitary enterprises, state corporations, state companies, public companies (paragraphs 1-9 of the Information);
companies whose securities are admitted to trading, credit institutions, credit history bureaus, insurance companies, mutual insurance companies, trade unions of insurers, professional participants in the securities market, clearing organizations, trade organizers, depositories; organizations, organizers of lotteries and gambling, credit and housing savings cooperatives, self-regulatory organizations, political parties, developers, etc. (points 10-50 of the Information);
conduct a mandatory audit of an organization whose revenue for the previous year is more than 400 million rubles, or the amount of assets on the balance sheet is more than 60 million rubles (paragraph 68 of the Information);
mandatory audit of reporting is carried out by the Central Bank of the Russian Federation, the Deposit Insurance Agency, Vnesheconombank, the Housing and Utilities Reform Assistance Fund, the Roscosmos State Corporation, Russian Railways, the Credit Assistance Fund and others (paragraphs 11-67 of the Information);
mandatory audit is carried out by all organizations that submit and / or publish summary (consolidated) accounting (financial) statements (clause 69 of the Information).

Mandatory audit for LLC

The law does not require an LLC to submit an audit report as part of its financial statements. However, for such legal entities, a mandatory accounting audit is possible according to the financial criterion, if the allowable amount of revenue/assets is exceeded. This is not possible only in the first year of operation, since they do not yet have indicators for periods preceding the reporting period. If other criteria are met, the LLC is subject to mandatory audit.

Similarly, a mandatory audit of a small enterprise will be carried out - if the legal entity meets the above criteria. The presence of the status of a small business entity does not matter.

Mandatory audit: responsibility

In case of failure to submit or violation of the deadline for submitting an audit report to Rosstat by an organization that requires a mandatory audit, fines can be (Article 19.7 of the Code of Administrative Offenses of the Russian Federation):

from 3000 to 5000 rubles. to the organization
from 300 to 500 rubles. on officials.

For failure to conduct a mandatory audit, the fines are already more significant (Article 15.11 of the Code of Administrative Offenses of the Russian Federation):

from 5,000 to 10,000 rubles. to the leadership of the organization;
in case of repeated violation - up to 20,000 rubles, or disqualification of an official for 1-2 years.

If a JSC does not have a mandatory audit of financial statements, then the amount of fines increases many times (Article 2, Article 15.19 of the Code of Administrative Offenses of the Russian Federation):

from 30,000 to 50,000 rubles. - to the management of JSC;
from 700,000 to 1,000,000 rubles. - to the organization.

The regulation of the activities of Russian business is increasingly approaching, which is associated with both the influx of foreign investment and the entry of Russian companies into foreign capital markets.

For effective interaction with Russian and foreign partners in Russia for 2020 international auditing standards were introduced which seriously influenced the established practice of conducting inspections.

The audit requirements for limited liability companies do not apply to all companies, but only to legal entities that meet certain criteria. This is due to the fact that the majority of LLCs belonging to small and medium-sized businesses have small financial turnover, do not bring their shares or bonds to the securities market by publishing an emission prospectus, do not attract money from individuals. Therefore, the need for additional verification of the reliability of their reporting does not arise.

Main criteria for verification

Mandatory audits must be carried out by companies whose activities affect the interests of many third parties or have sufficiently high financial performance. These criteria are established by the legislation on auditing activities and sometimes change in terms of increasing the thresholds for revenue and.

The requirements for an LLC are divided into two groups: by types of activity and other similar characteristics and by financial indicators. According to these features, it is possible to single out LLCs that are subjects of mandatory audit. Joint-stock companies in the form of PJSC, whose shares are distributed by public subscription, are checked in any case, regardless of compliance with other criteria.

Subjects

The law establishes the following groups of limited liability companies for which the audit of annual accounts is mandatory:

By type of activity- audits are required to be carried out by banks, insurance companies, pension funds, holding companies that prepare and publish consolidated financial statements for the holding, companies whose bonds are traded on the organized securities market.
According to financial indicators these requirements apply to enterprises with revenue exceeding 400 million rubles, as well as if the balance sheet asset currency exceeds 60 million rubles.

If a limited liability company falls under these criteria, the requirements for an audit of the annual financial statements become mandatory for it. Compared to last year, nothing has changed in these criteria, no new subjects or requirements have appeared.

According to the new goals and objectives of the statutory audit in 2020, not only will the standard verification of the reliability of financial statements and the identification of errors that occur during accounting, but also business analysis. The first two tasks remain in full and are somewhat expanded, so the responsibility for checking the work of internal ones also falls on the shoulders of external auditors.

The task of business analysis is to identify risks, factors that cause obstacles in the development of the company's activities, and develop recommendations for such a change in financial and economic activities that will help eliminate these risks.

Despite the fact that the conclusion from this year is subject to mandatory publication, its business part must be completed most correctly and balanced, one should not allow an incorrect interpretation of certain facts of economic life.

Legislation

In addition to the basic laws, a mandatory audit is regulated according to the norms by the Order of the Ministry of Finance No. 192n, issued on October 24, 2016. They put into effect 30 International Auditing Standards.

Also, a little later, Order No. 203n was adopted, which approved 18 more standards. Among the most significant changes:

introduction of the principles of a phased audit;
introduction of the concept of audit evidence;
changing the form of the conclusion, instead of a standard report, an extended document is proposed with an analysis of the organization's activities, business risks and other issues;
preparation of a modified opinion;
an auditor's report made for organizations that require a statutory audit should be published.

The responsibility of audit organizations with the introduction of new standards has increased, and competition will also increase, since the publication of reports will enable everyone to get acquainted with the quality of work of auditors before concluding contracts.

had a significant impact on the work of auditors. repeal of audit secrecy provisions. According to it, the employees of audit companies are required to report to the financial monitoring authorities about the so-called "strange" transactions of clients.

Changes in cost

The new standards have significantly increased the labor intensity of the work of specialists checking accounts. Seriously changed requirements, the need to fill in additional tables increased the labor costs of specialists by 30-40% , the price of these services should have increased proportionally.

In any case, the cost of the auditor's services must be approved by the company's participants, therefore, when the issue of a mandatory audit is brought to the meeting of participants, the price must be determined.

Checking procedure

Auditing and its essence have not undergone any changes. As a standard, the correctness of accounting is checked on the basis of documents for a certain sample; a complete audit is not carried out. But the amount of information provided has increased significantly, and hence the burden on the accountant.

In addition, the need for business analysis forces the management of the enterprise to take part in the audit, which will require comments on certain risks in the activity. The auditors themselves are required by the standards to inform management of shortcomings in the work of internal audit systems.

The auditor must be determined at the meeting of the participants. He starts checking as soon as the reports are ready, but before they are submitted. Thus, the main work for the auditor will have for March- for accounting purposes, for June- for the tax office.

Given the significant complication of the requirements, it is better not to take risks and start checking as early as possible, there is a high risk of not having time to prepare a report, which can lead to various sanctions.

In addition, a phased audit will enable accountants and financiers to use auditors' advice on controversial issues of tax legislation and accounting throughout the year.

The result of the check will be drawing up a conclusion, which is seriously different from the previously accepted forms. The collection of recommended forms of conclusions is approved by the Ministry of Finance, it contains recommendations for ordinary and special conclusions, which are formed based on the results of the audit of consolidated financial statements.

Can an organization be penalized for failing to conduct a statutory audit? Yes, but sanctions will not follow directly. First of all, she will be denied acceptance of the annual financial statements. Such failure hello to the imposition of administrative responsibility on her.

The fact of a gross violation of the rules for maintaining accounting records may also be established, which will lead to an administrative fine in the amount of up to 20000 rubles. Small fines may be imposed for failure to provide an opinion along with reporting and statistics authorities.

Compared to previous periods, almost nothing has changed, with the exception of the requirements to include data on the mandatory audit in the Unified State Register in accordance with the law 129-FZ and the requirements for mandatory publication of audit results.

Failure to comply with this requirement may result in administrative liability, the head may be disqualified or fined. up to 50000 rubles(Clause 6, 7, 8 Article 14.2 of the Code of Administrative Offenses).

Sanctions imposed on the auditors themselves have become tougher. For the unreliability of the conclusion, they may be subject to sanctions in accordance with the Code of Administrative Offenses, and it is also planned to introduce criminal liability if the preparation of a low-quality report led to significant losses. The law on criminal liability is still under consideration.

Changes in the procedure for conducting an audit, on the one hand, are positive, increasing the transparency of enterprises and the confidence of investors and partners in them, on the other hand, disclosure of additional information that has ceased to be a tax secret may lead to an increase in the cost of bank loans due to the publicity of some risks. But in the end analysis of documentation on the new rules should benefit the business.

Why is an audit needed? Details are in this video.

An audit is an independent verification of these statements carried out to express an opinion on the reliability of the financial statements of an economic entity (part 3 of article 1 of the Federal Law of December 30, 2008 No. 307-FZ). The audit can be carried out both on a voluntary and mandatory basis. In the first case, we are talking about an initiative audit, in the second - a mandatory one. The obligation to conduct an audit is imposed on the organization by law. We will tell you about the criteria for conducting a mandatory audit in 2017 in our consultation.

When is an audit required?

The statutory audit criteria for 2017 are contained in Art. 5 of the Federal Law of December 30, 2008 No. 307-FZ "On Auditing" .

The main criteria for a mandatory audit are legal and cost criteria. In the first case, the mandatory audit arises if the organization belongs to a certain organizational and legal form (for example, the company is a joint-stock company) or in the case of conducting certain types of activities, and in the second case, if the revenue or the amount of assets exceeds certain restrictions.

We present in the table for a mandatory audit the criteria for 2017 for LLCs and organizations of other forms. If at least one of the above conditions is present, an audit is mandatory.

Mandatory audit for 2017: criteria

Criterion	Condition
Legal form or type of activity	- Joint-Stock Company; - credit organisation; — bureau of credit histories; — professional participant of the RCB; - an insurance organization; — clearing organization; — mutual insurance society; - organizer of trade; — non-state pension or other fund; — joint-stock investment fund; — management company of a joint-stock investment fund, mutual investment fund or non-state pension fund (with the exception of state extra-budgetary funds)
Circulation of securities	admitted to organized trading
Revenue from the sale of products (performance of work, provision of services) for 2016*	exceeds 400 million rubles
The amount of the organization's assets as of December 31, 2016 according to the balance sheet *	exceeds 60 million rubles
Submission (disclosure) by the organization of the annual summary (consolidated) statements**	presents or discloses annual summary (consolidated) accounting (financial) statements

* With the exception of state authorities, local governments, state and municipal institutions, state and municipal unitary enterprises, agricultural cooperatives, unions of these cooperatives.

** With the exception of a state authority, a local self-government body, a state off-budget fund, as well as a state and municipal institution.

Other statutory audit criteria

Let's present some other cases of mandatory audit, not named above and provided for by separate federal laws.

Mandatory audit is carried out by the enterprise every year. Auditors are independent audit firms that have the appropriate license. The result of the audit is the conclusion of the inspector on the correctness of the reflection of the facts of economic and financial activities. Not all companies have to undergo a mandatory audit. So, annually should be checked:

joint-stock companies;
credit institutions;
insurance companies;
investment funds;
companies whose securities are traded on the stock exchange and others.

Other enterprises must also undergo mandatory audits if their activities exceed the established financial indicators. Criteria for mandatory audit in 2018:

revenue of more than 400 million rubles, excluding VAT;
the company's assets at the end of the year exceed 60 million rubles.

The criteria obliging companies to conduct an audit are established by paragraph 1 of Art. 5 of Law No. 307-FZ. If, according to the results of the company's activities, at least one of these requirements is met, it must conduct an audit. The information is taken for the previous year, i.e. if, after the end of the year, the activity of the enterprise met one of the requirements, it must undergo a mandatory audit next year.

As you can see, there are no special requirements governing the mandatory audit for an LLC. If the company's assets or revenues exceed the established norms, the LLC must be audited annually. The obligatory annual audit for an LLC may be established by the charter or by the decision of the company's participants. But in both cases, we are talking about an initiative audit.

There are also requirements on how the audit should be carried out. The audit must meet the following criteria:

Verification is carried out throughout the activities of the organization. All assets, liabilities, inventories of the company are evaluated. Analyzed accounting and tax reporting. The reliability of settlements with the founders, regulatory authorities, budgetary funds is verified.
The conclusion of the checking company must be definite. At the end of the audit, the auditor must make a clear verdict, reliable or not, the information presented in the financial statements.
The audit is carried out in compliance with all standards. Previously, the rules for conducting an audit were regulated by Russian law. However, since 2017, everything has changed and the activities of audit firms must already meet international standards.

An audit is a very time-consuming process, so a detailed plan is drawn up just before the audit. At the beginning, information about the enterprise at which it will take place is studied. Based on this information, strategy and tactics are determined, an audit program is developed, a schedule and plan are drawn up. Everything is agreed with the client.

Then the verification itself is carried out. All financial, accounting and statutory documents are studied. The data obtained are analyzed, and an assessment is made of their compliance with Russian legislation. The identified shortcomings are fixed, the auditor proposes measures to eliminate them.

The final conclusions are presented to the founders of the organization in the form of an audit report. There are two types of conclusion: unconditionally positive, such a decision is made if no violations were found during the audit, and a modified one. The latter, in turn, is divided into three subtypes:

positive with reservations;
negative;
disclaimer of opinion, issued in case of incomplete submission of documents for verification.

Basically, in practice, positive conclusions or opinions with reservations are issued. The other two options account for less than 1% of conclusions.

After receiving the document, the enterprise must submit it to Rosstat. The conclusion is transmitted along with the annual balance sheet and other reporting. This must be done within 10 days from the date of its submission to the legal entity, but before the end of the year following the reporting one.

The transition to international requirements has made adjustments to the audit procedure. First of all, this affected the presentation of the auditor's opinion on the results of the audit. The form of the conclusion has changed, now it has become more informative. In addition to evaluating the financial performance of the company, it includes an analysis of the main points that interested the auditor and a listing of possible risks for further activities.

Since 2018, audit secrecy has actually been abolished. Now the Federal Tax Service can receive any documents on the audit from the audit company. Moreover, according to the new amendments, tax authorities are allowed to disclose the information received.

Verification was not carried out, what will be

Ignoring the law entails the imposition of penalties. Both the organization itself and its leader can be fined. Supervisory authorities can issue both fines.

In the case of a mandatory audit, a violation is considered:

Failure to provide information to the statistical authorities. It is not necessary to submit an opinion to the tax office. The fine for the head will be from 300 to 500 rubles. The company will pay 3,000 - 5,000 rubles;
Absence or untimely entry of information into the state register on the activities of organizations. An enterprise may be subject to sanctions in the amount of 5,000 to 50,000 rubles;
Violation of the terms of storage of audit results. An on-site tax audit may request audit documents for the past 5 years. This is the period established for the storage of audit reports by law. If there are no documents, the organization will be fined 5,000 - 10,000 rubles.

All LLCs that are subject to legal requirements must undergo mandatory verification, otherwise they will have to pay heavy fines. It is also important to keep track of the deadlines for submitting audit reports to the statistical authorities, their violation will also entail the imposition of penalties.