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Ministry of Justice

Russian Federation

On August 31, 2020 No. 59596

ORDER OF THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

of August 5, 2020 No. 160n

About approval of the federal standard of internal financial audit "Planning and carrying out internal financial audit"

(as amended on 01-09-2022)

According to Item 5 of Article 160.2-1 and the paragraph the forty fifth Article 165 of the Budget code of the Russian Federation (Russian Federation Code, 1998, No. 31, Art. 3823; 2019, 31, of the Art. 4466) I order to No.:

approve the enclosed federal standard of internal financial audit "Planning and carrying out internal financial audit".

Acting Minister

A. V. Moiseyev

Approved by the Order of the Ministry of Finance of the Russian Federation of August 5, 2020, No. 160n

Federal standard of internal financial audit "Planning and carrying out internal financial audit"

I. General provisions

1. This federal standard of internal financial audit "Planning and carrying out internal financial audit" (further - the Standard) is developed according to Article 160.2-1 of the Budget code of the Russian Federation (The Russian Federation Code, 1998, No. 31, Art. 3823; 2019, No. 30, the Art. 4101), is applied by officials (workers) of the main managers of budgetary funds, chief managers of budget receipts, chief managers of budget deficit financing sources (further - chief managers of budgetary funds), managers of budgetary funds, receivers of budgetary funds, administrators of budget receipts, administrators of budget deficit financing sources (further - administrators of budgetary funds) when implementing internal financial audit.

Planning and holding auditor actions is performed according to provisions of this Standard and other federal standards of internal financial audit regulating planning and holding auditor actions.

2. For the purpose of this Standard terms in the values determined by the federal standard of internal financial audit "Determinations, the principles and tasks of internal financial audit" <1> are applied.

--------------------------------

<1> The federal standard of internal financial audit "Determinations, the principles and tasks of internal financial audit", approved by the order of the Ministry of Finance of the Russian Federation of 21.11.2019 No. 196n (registration No. 56863) is registered by the Ministry of Justice of the Russian Federation on December 18, 2019.

II. Planning of internal financial audit

1. Annual planning of auditor actions for the purpose of scheduling of holding auditor actions

3. Planning of auditor actions for the purpose of scheduling of holding auditor actions includes the following stages:

a) forming of the auditor actions this for creation of the draft of the plan of carrying out;

b) creation of the draft of the plan of holding auditor actions;

c) approval of the plan of holding auditor actions.

4. When forming of the auditor actions this for creation of the draft of the plan of carrying out are considered:

possibility of implementation of internal financial audit according to the principles of internal financial audit, including the principle of functional independence established by the federal standard of internal financial audit "Determinations, the principles and tasks of internal financial audit";

resource capability degree (temporary, labor, material, financial and other resources which are capable to exert impact on quality of implementation of internal financial audit);

possibility (need) of attraction to holding auditor actions of officials (workers) of the chief manager (administrator) of budgetary funds and (or) experts;

need of reservation of time and manpower on holding unplanned auditor actions proceeding from data on the unplanned auditor events held in the years preceding year of creation of the draft of the plan of holding auditor actions (1 - 2 years);

need of reservation of time for implementation by officials (workers) of the subject of internal financial audit of professional development for the purpose of maintenance and increase in the skill level necessary for implementation of internal financial audit;

decisions of the head of the chief manager (administrator) of budgetary funds on need of holding planned auditor actions;

the decisions of the head of the chief manager (administrator) of budgetary funds including accepted by results of summing up activities of the chief manager (administrator) budgetary funds for the accounting year and determinations of the purposes and tasks the current year and planning period and also interconnected with the organization (ensuring accomplishment), accomplishment of the budget procedures;

the information which arrived to the chief manager (administrator) of budgetary funds and specified in acts, the conclusions, representations and instructions of bodies of the state (municipal) financial control and also information on the standard violations and (or) shortcomings revealed by bodies of the state (municipal) financial control;

information containing in the register of the budget risks including on significant budget risks. Assessment of the budget risks (except for risks of misstatement of budget reports), including determination of the importance (level) of the budget risk, is performed according to Appendix No. 1 to this Standard;

information on reliability of the internal financial control performed in the chief manager (administrator) of budgetary funds;

information on reliability of budget reports, including on availability of the facts and (or) signs influencing reliability of budget reports and compliance of procedure for conducting the budget accounting of single methodology of the budget accounting, creation, representation and approval of budget reports, and also results of external check of the budget reports of chief managers of budgetary funds which are carried out by body of external state (municipal) financial control;

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