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RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of March 11, 2002 No. 35

About approval of national rules of auditor activities

(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 "The statement of the management of the audited face" (are applied).

2. Approve national rules of auditor activities "Audit of transactions with the related parties" (are applied).

Minister

N.P.Korbut

 

Approved by the Resolution of the Ministry of Finance of the Republic of Belarus of March 11, 2002 No. 35

National rules of auditor activities of "The statement of the management of the audited face"

Chapter 1. General provisions

1. These national rules establish single requirements to the auditing organizations, auditors performing activities as individual entrepreneurs (further – auditing organization) concerning obtaining and use of statements of the management of the audited face and persons given the leading authority (further, unless otherwise specified, – management of the audited face), during audit of the accounting and (or) financial reporting of the audited face (further – audit).

By other national rules of auditor activities additional requirements concerning obtaining and use of statements of the management of the audited face can be established.

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

the statement of the management of the audited face – the written explanation of management of the audited face provided to auditing organization for the purpose of confirmation of information requested by it in connection with the booked audit or for use as the auditor proof. Statements of the management of the audited face in this context do not include the accounting and (or) financial reporting, source accounting documents, bookkeeping registers and other documents of financial accounting;

terms "persons given the leading authority" and "management of the audited face" have the values determined by the national rules of auditor activities "Reporting of information concerning audit" approved by the resolution of the Ministry of Finance of the Republic of Belarus of September 23, 2011 No. 97.

Chapter 2. Statements of the management of the audited face for the obligations

3. In order that the auditing organization came to conclusion that the management of the audited face executed the obligations on preparation of the accounting and (or) financial reporting and provided all necessary information in accordance with the terms of audit, auditing organization of not enough auditor evidence obtained during audit. These data shall be confirmed with management of the audited face.

4. The auditing organization shall receive from management of the audited face the application testimonial of the fact that it executed the obligations on preparation of the accounting and (or) financial reporting according to the applied basis of creation and submission of the accounting and (or) financial reporting.

5. The auditing organization shall receive the application from those persons from structure of management of the audited face which signed the accounting and (or) financial reporting, bear responsibility for its preparation and have information on appropriate questions.

6. By provision of statements the management of the audited face can use information obtained from the persons who are participating in preparation of the accounting and (or) financial reporting and having special knowledge of single questions (the actuary who is responsible for the indicators received by method of actuarial assessment and other persons). At the same time the management of the audited face can include clause in the provided statement that the statement is made according to beliefs of management of the audited face and the data which are available for it.

The auditing organization should adopt such statement of the management of the audited face if it can make sure that data were received from the officials who are carrying out the corresponding obligations and informed on the questions included in the statement.

7. In addition to the statement confirming fulfillment of duties, these national rules provided in item 4, the auditing organization shall receive the application that from management of the audited face:

the management of the audited face provided to auditing organization all information, necessary for audit, and access to documents of the audited face in accordance with the terms of carrying out audit;

all economic activities of the audited face were appropriately reflected in financial accounting and the accounting and (or) financial reporting.

8. The auditing organization can repeatedly demand that the management of the audited face provided the statement in which confirmed that it recognizes the obligations if:

persons which signed auditing provisions on behalf of the audited face do not carry out the corresponding obligations now;

auditing provisions were prepared in previous year;

there are any signs of the fact that the management of the audited face misunderstands the obligations;

the changed circumstances require repeated statements.

Chapter 3. Statements of the management of the audited face on other questions

9. In addition to statements of the management of the audited face for the obligations the auditing organization can demand receipt of other statements of the management of the audited face, in particular:

whether accounting policy of the audited face was properly chosen and applied;

whether there were following aspects (if they are pertinent according to the applied basis of creation and submission of the accounting and (or) financial reporting) are appropriately acknowledged, estimated, provided or disclosed:

plans or intentions of the audited face which can exert impact on cost or classification of assets and liabilities;

obligations;

property rights to assets;

requirements of the legislation or condition of contractual agreements which can exert impact on the accounting and (or) financial reporting.

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