Audit of compliance with regulatory document requirements in operations with own shares
DOI:
https://doi.org/10.35774/econa2021.04.100Keywords:
audit, own issue shares, audit procedures, auditor's opinion, enterprise, management staff, regulatory documentsAbstract
The subject of the research is the audit method of compliance with the requirements of regulatory documents in the operations with own shares of the enterprise.
The purpose of the work is to develop theoretical and practical approaches to improving the methodological support for the audit of compliance with regulatory documents in the implementation of business entities operations with own shares.
The research method includes methods of theoretical generalization, bibliographic method, abstract-logical method.
Results. The results of the study are characterized by certain elements of scientific novelty, namely: it is determined that the assessment of compliance with regulatory documents during operations with own shares should be carried out at all stages of audit;it's needed to apply audit procedures to all types of transactions with of own shares, as well as to measures related to its disclosure in the financial statements; procedures that can assist the auditor for obtaining of of compliance of the conduct of the personnel of the enterprise with the requirements of regulatory documents evidence are proposed; the measures to be taken by the auditor in case of detection of signs of non-compliance with the requirements of regulatory documents on transactions with own shares are determined; the procedure for determining the impact of circumstances, the content of which depends on the auditor's opinion, on the need and method of its modification is substantiated.
Scope of results: practical activity of independent, internal and public auditors, as well as in research aimed at solving theoretical and practical problems of formation, functioning and implementation of the public role of the audit institute, academic and professional training of auditors.
Conclusions. Solving the tasks of the audit of compliance with regulatory requirements in the implementation of operations with own shares is one of important tasks, the results of which provide confidence to users of financial statements. The main aspects studied by auditors for this purpose are: the willingness of employees to ensure and control the relevant processes; determining the procedures that can be performed by the auditor to obtain and assess the legitimacy of employee behavior; identify signs of facts of non-compliance with regulatory requirements; evaluation of the audit evidence obtained, which affects the results of the audit as a whole. The results of the study will solve the practical problems of audit as a form of control over the activity of economic entities.
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