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RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of March 31, 2006 No. 33

About approval of national rules of auditor activities of "Action of auditing organization in case of identification of misstatements of the accounting and (or) financial reporting and facts of non-compliance with the legislation"

(as amended on 14-01-2021)

Based on the paragraph of third of part one of Item 5 of article 5 of the Law of the Republic of Belarus of July 12, 2013 No. 56-Z "About auditor activities", Item 10 of the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585, the Ministry of Finance of the Republic of Belarus DECIDES:

1. Approve national rules of auditor activities of "Action of auditing organization in case of identification of misstatements of the accounting and (or) financial reporting and the facts of non-compliance with the legislation" (are applied).

2. Ceased to be valid

3. Recognize invalid:

Item 1 of the resolution of the Ministry of Finance of the Republic of Belarus of July 9, 2001 No. 77 "About approval of Rules of auditor activities" (The national register of legal acts of the Republic of Belarus, 2001, No. 77, 8/6422);

paragraph third ceased to be valid;

item 4 of the resolution of the Ministry of Finance of the Republic of Belarus of September 17, 2003 No. 128 "About approval of Rules of auditor activities, introduction of amendments to some resolutions of the Ministry of Finance of the Republic of Belarus and recognition No. 59 which voided resolutions of the Ministry of Finance of the Republic of Belarus of May 28, 2001" (The national register of legal acts of the Republic of Belarus, 2003, No. 111, 8/10039);

Item 3 of the resolution of the Ministry of Finance of the Republic of Belarus of September 28, 2004 No. 142 "About approval of Rules of auditor activities and modification and amendments in some resolutions of the Ministry of Finance of the Republic of Belarus" (The national register of legal acts of the Republic of Belarus, 2004, No. 160, 8/11555).

4. This resolution becomes effective from the date of its official publication.

Minister

N.P.Korbut

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of March 31, 2006 No. 33

National rules of auditor activities of "Action of auditing organization in case of identification of misstatements of the accounting and (or) financial reporting and facts of non-compliance with the legislation"

Chapter 1. General provisions

1. These national rules establish single requirements to actions of auditing organizations, the auditors performing activities as individual entrepreneurs (further – auditing organization) in case of identification during audit of the accounting and (or) financial reporting (further – audit) misstatements of the accounting and (or) financial reporting of the audited face, and also the non-compliance facts the audited face of the legislation.

2. Are determined by these national rules:

actions of auditing organization in case of:

to risk assessment of essential misstatement of the accounting and (or) financial reporting as a result of unfair actions and mistakes;

availability of the circumstances specifying possible misstatements of the accounting and (or) financial reporting as a result of unfair actions and mistakes;

identification of the facts of non-compliance by the audited face of the legislation;

procedure for the message auditing organization of information on the revealed misstatements of the accounting and (or) financial reporting of the audited face.

3. For the purposes of these national rules the following terms and their determinations are applied:

misstatement of the accounting and (or) financial reporting is incorrect reflection and (or) data presentation in the accounting and (or) financial reporting of the audited face in connection with violation of statutory rules of maintaining and the organization of financial accounting and preparation of the accounting and (or) financial reporting. Misstatement of the accounting and (or) financial reporting can result from mistakes and (or) the unfair actions made by interested persons, management, workers of the audited face or other persons. Limitor factor between unfair action and mistake are the intentions which are the cornerstone of the actions which led to misstatement of the accounting and (or) financial reporting that is their premeditation or unintentioalness;

interested persons – owners of property, founders, participants of the audited face;

unfair actions – the deliberate misstatement of the accounting and (or) financial reporting caused by the wrongful acts (failure to act) made by interested persons, management, workers of the audited face or other persons for the purpose of extraction of personal benefits;

unfair actions of workers – the unfair actions made by workers of the audited face (except for interested persons and management of the audited face);

unfair actions of management – the unfair actions made by interested persons or management of the audited face;

unfair creation of the accounting and (or) financial reporting – misstatement or not reflection of numerical indicators, and also not disclosure of information in the accounting and (or) financial reporting for the purpose of false representation of users of the accounting and (or) financial reporting;

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