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The document ceased to be valid since   February 12, 2019 according to the Order of the Ministry of Finance of the Russian Federation of January 9, 2019 No. 2n

Appendix No. 3

to the Order of the Ministry of Finance of the Russian Federation of November 9, 2016 No. 207n

International standard of audit 230 "Auditor documentation"

The international standard of audit of MCA 230 "Auditor documentation" should be considered together with MCA 200 "Main objectives of the independent auditor and carrying out audit according to International standards of audit".

Introduction

Scope of this standard

1. This International Standard of Audit (ISA) establishes the auditor's obligations on preparation of auditor documentation when carrying out financial records audit. Other MSA which contain these or those requirements and recommendations about documentation questions are listed in Appendix. These specific requirements for creation of documentation containing in other MSA do not impose any restrictions for application of this standard. By the laws or regulations additional requirements to documentation can be established.

Nature and purpose of auditor documentation

2. The auditor documentation meeting the requirements of this standard and specific requirements to documentation containing in other applicable MSA provides:

(a) the proofs proving the conclusion drawn by the auditor about achievement of main objectives of the auditor <1>;

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<1> MCA 200 "Main objectives of the independent auditor and carrying out audit according to International standards of audit", Item 11.

(b) proofs that audit was planned and carried out according to International standards of audit by both applicable legislative and normative requirements.

3. Auditor documentation performs a number of additional functions, including the following:

- help to auditor group in planning and carrying out audit;

- the help to the members of auditor group responsible for control, in management and control of auditor work, and also performed by them their obligations on survey checks according to MCA 220 <1>;

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<1> MCA 220 "Quality control in case of carrying out financial records audit", Items 15 - 17.

- ensuring accountability of auditor group in its work;

- preserving the data on questions which are significant for future audit engagements;

- ensuring conducting survey checks and inspection for the purpose of quality control according to MCKK 1 <1> or at least strict requirements of the national legal system <2>;

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<1> MCKK 1 "Quality control in the auditing organizations booking audit and survey verifications of the financial reporting, and also performing the other tasks providing confidence, and tasks on rendering the accompanying services", Items 32 - 33, 35 - 38 and 48.

<2> MSA 220, Item 2.

- possibility of conducting external inspection according to applicable legislative, normative or other requirements.

The effective date

4. This standard becomes effective concerning financial records audit for the periods beginning on December 15, 2009 or after this date.

Purpose

5. The purpose of the auditor consists in preparation of documentation which provides:

(a) the sufficient and proper data proving audit opinion;

(b) proofs that audit was planned and carried out according to International standards of audit by both applicable legislative and normative requirements.

Determinations

6. For the purposes of International standards of audit the following terms have the stated below values:

(a) auditor documentation, working documentation, working documents - records about the performed audit procedures, the obtained pertinent auditor evidence and conclusions drawn by the auditor;

(b) the auditor file - one or more folders, either the other paper or electronic media of information intended for data storage, containing the data representing the auditor documentation relating to specific task.

(c) the experienced auditor - person (which can be both the employee of auditing organization, and the specialist, third-party in relation to this organization) having practical experience of carrying out audit and sufficient understanding of the following questions:

(i) audit procedures;

(ii) International standards of audit and applicable requirements of the legislation and normative requirements;

(iii) business environment in which conducts activities the audited organization;

(iv) auditor questions and questions of preparation of the financial reporting in relation to industry in which the organization performs the activities.

Requirements

Timely preparation of auditor documentation

7. The auditor shall prepare auditor documentation timely (see Item A 1).

Documentation on the performed audit procedures and collected auditor proofs

Form, content and amount of auditor documentation

8. The auditor shall prepare auditor documentation which is sufficient in order that the experienced auditor who is earlier not connected with carrying out the specific audit engagement could understand (see the Items A2 - A 5, A16 - A 17):

(a) nature, terms and amount of the performed audit procedures for observance of International standards of audit and applicable legislative and normative requirements (see the Items A6 - A 7);

(b) results of the performed audit procedures and collected auditor proofs;

(c) the significant questions which arose during the audit engagement, drawn on them conclusions, and the significant professional judgments used in case of formulation of these conclusions (see the Items A8 - A 11).

9. In case of documentation of nature, terms and amount of the performed audit procedures the auditor shall fix:

(a) what distinctive characteristics of the tested Articles or questions (see Item A 12);

(b) who performed auditor work, with indication of date for which such work was complete;

(c) who checked the performed auditor work, with indication of date and amount of such check (see Item A 13).

10. The auditor shall document discussions of significant questions with the management, persons who are responsible for corporate management including nature of the discussed questions, and also when and to whom there were these discussions (see Item A 14).

11. If the auditor revealed information which does not correspond to its final conclusions concerning this or that significant question, the auditor shall document how it resolved this discrepancy (see Item A 15).

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