Deadline for submitting the audit report for the year. Criteria for mandatory audit for LLC. When is an audit an obligation?

A mandatory audit is carried out by the company every year. Independent audit firms with the appropriate license act as auditors. The result of the inspection is the inspector’s conclusion about the correctness of the reflection of the facts of economic and financial activities. Not all companies are required to undergo mandatory audits. So, the following should be checked annually:

1. joint stock companies;
2. credit institutions;
3. insurance companies;
4. investment funds;
5. companies whose securities are traded on the stock exchange and others.

Other enterprises must also undergo mandatory inspection if their activities exceed established financial indicators. Criteria mandatory audit in 2018:

• revenue more than 400 million rubles, excluding VAT;
• The company's assets at the end of the year exceed 60 million rubles.

The criteria obliging companies to carry out inspections are established in paragraph 1 of Art. 5 of Law No. 307-FZ. If, based on the company's performance, at least one of these requirements is met, it must conduct an audit. Information is taken for the previous year, i.e. If, after the end of the year, the company’s activities met one of the requirements, it must undergo a mandatory audit next year.

As you can see, there are no special requirements regulating mandatory audit for LLCs. If the company's assets or revenue exceed established standards LLCs must be audited annually. The obligation of an annual audit for an LLC may be established by the charter or by a decision of the company's participants. But in both cases we are talking about an initiative audit.

There are also requirements for how the audit should be carried out. The audit must meet the following criteria:

• The audit is carried out across all activities of the organization. All assets, liabilities, and inventories of the company are assessed. The accounting and tax reporting. The authenticity of settlements with founders, regulatory authorities, and budgetary funds is checked.
• The conclusion of the inspection company must be definite. At the end of the audit, the auditor must make a clear verdict whether the information presented in the document is reliable or not. financial statements.
• The audit is carried out in compliance with all standards. Previously, audit rules were regulated by Russian legislation. However, since 2017, everything has changed and the activities of audit firms must already meet international standards.

​An audit is a very labor-intensive process, so a detailed plan is drawn up immediately before the inspection. First, information about the enterprise where it will take place is studied. Based on this information, strategy and tactics are determined, an audit program is developed, a schedule and plan are drawn up. Everything is agreed upon with the client.

Then the verification itself is carried out. All financial, accounting and statutory documents are studied. The data obtained is analyzed and assessed for their compliance with Russian legislation. Identified deficiencies are recorded, and the auditor proposes measures to eliminate them.

The final conclusions are presented to the founders of the organization in the form of an audit report. There are two types of conclusion: unconditionally positive, such a decision is made if no violations are found during the inspection, and modified. The latter in turn is divided into three subtypes:

1. positive with reservations;
2. negative;
3. refusal to express an opinion is issued if documents are incompletely submitted for verification.

Basically, in practice, positive conclusions or opinions with reservations are issued. The other two options account for less than 1% of conclusions.

After receiving the document, the enterprise must submit it to Rosstat. The conclusion is submitted along with the annual balance sheet and other reporting. This must be done within 10 days from the date of its submission to the legal entity, but before the end of the year following the reporting year.

The transition to international requirements has made adjustments to the audit procedure. First of all, this affected the presentation of the auditor’s opinion on the results of the audit. The form of the conclusion has changed, now it has become more informative. In addition to assessing the financial performance of the company, it includes an analysis of the main points that interested the auditor and a listing of possible risks for further activities.

Since 2018, audit secrecy has actually been abolished. Now the Federal Tax Service can receive any documents related to the audit conducted from the audit company. Moreover, according to the new amendments, tax authorities are allowed to disclose the information received.

No verification was carried out, what will happen

Ignoring the law entails the imposition of penalties. Both the organization itself and its leader can be fined. Supervisory authorities can issue both fines.

In the case of a mandatory audit, the following is considered a violation:

• Failure to provide information to statistical authorities. There is no need to submit a conclusion to the tax office. The fine for the manager will be from 300 to 500 rubles. The company will pay 3,000 - 5,000 rubles;
• Absence or untimely entry of information into state register about the activities of organizations. The company may be subject to sanctions in the amount of 5,000 to 50,000 rubles;
• Violation of the storage period for audit results. An on-site tax audit may request audit documents for the past 5 years. This is the period established for storing audit reports by law. If there are no documents, the organization will be fined 5,000 - 10,000 rubles.

All LLCs subject to legal requirements must undergo mandatory verification, otherwise they will have to pay large fines. It is also important to monitor the deadlines for submitting audit reports to statistical authorities; violation of them will also entail the imposition of penalties.

The Financial Department presented a list of conditions for mandatory audit and a list of organizations in its Information Notice

2017 has ended, accountants are preparing annual reports. As we know, many organizations will be required to conduct a mandatory audit of their financial statements and consolidated statements.

The Russian Ministry of Finance has put together information about which companies must conduct a mandatory audit of their accounting (financial) statements for 2017. All information is collected and presented in a form that clearly indicates: the type of company, its activities, type of reporting and regulations.

Are ordinary LLCs required to conduct an audit? Yes, under certain conditions:

1) Volume of revenue from product sales(sale of goods, performance of work, provision of services) organizations (except for bodies state power, organs local government, government and municipal institutions, state and municipal unitary enterprises, agricultural cooperatives, unions of these cooperatives) for the previous reporting year exceeds 400 million rubles.

2) The amount of assets on the balance sheet at the end of the previous reporting year exceeds 60 million rubles.

If your company meets one of the conditions presented above, then you need to conduct a mandatory audit. The annual financial statements will be subject to audit. Reason: Federal Law of December 30, 2008 No. 307-FZ, Art. 5, part 1, clause 4. Either an audit organization or an individual auditor has the right to conduct an audit.

Our state strives for European indicators in terms of financial reporting. Therefore, another step towards increasing its publicity and transparency was the introduction of international auditing standards (ISA) in the Russian Federation on January 1, 2017 (Orders of the Ministry of Finance of Russia dated October 24, 2016 N 192n, dated November 9, 2016 No. 207n).

For audit companies this means the following changes:

1. increase in the number of audit procedures
2. increase in the volume of data required to analyze the activities of audited companies
3. new quality standards for mandatory audits
4. new standards of information in the auditor's report
5. introduction of a modified opinion in the conclusion

For audited companies this means:

Information on taxes, fines, income and expenses, headcount will appear on the Federal Tax Service website

Information about economic entities is becoming more open. From June 1, 2016, tax secrets are no longer a secret (amendments to Article 102 of the Tax Code of the Russian Federation were introduced by Federal Law No. 134-FZ of May 1, 2016):

• information on the average number of employees of the organization;
• the amount of taxes and fees paid by the organization, with the exception of taxes paid when importing goods into the EAEU and by tax agents;
• amounts of income and expenses according to data financial statements.

From July 1, 2017, it is planned to begin posting this information in the public domain on the official website of the Federal Tax Service on the Internet.

In addition, information on the amounts of arrears, arrears of penalties and fines, applied special regimes and the participation of taxpayers in consolidated groups will be published on the Federal Tax Service website.

Thanks to the appearance of additional information about legal entities in the public domain, taxpayers have an additional opportunity to assess the risks when choosing a counterparty, and there will also be an additional argument to prove to the Federal Tax Service in the event of claims that due diligence was exercised when concluding a transaction.

Mandatory audit - Integrated approach

Information about mandatory audit is posted on Fedresurs

From October 1, 2016 in Russia, the results of the mandatory audit of accounting (financial) statements become public. Corresponding amendments were made to the Federal Law “On audit activities" Organizations subject to mandatory audit must now enter information about the audit results into the Unified Federal Register of Information on the Facts of Activities of Legal Entities (hereinafter referred to as the EFRS www.fedresurs.ru) within 3 business days after receiving the audit report. Such information includes:

• name, INN, OGRN, SNILS of the audited entity;
• name (full name), INN, OGRN (OGRNIP), SNILS of the auditing organization (individual auditor);
• a list of accounting (financial) statements that were audited;
• the period of preparation of the accounting (financial) statements in respect of which the audit was carried out;
• date of the auditor's report;
• the opinion of the auditing organization (individual auditor) on the reliability of the accounting (financial) statements of the audited entity, indicating the circumstances that have or may have a significant impact on the reliability of such statements.

Violation by an official of the audited organization of the obligation to disclose such information may entail an administrative fine provided for in parts 6-8 of Article 14.25 of the Code of Administrative Offenses of the Russian Federation, up to 50 thousand rubles or disqualification for a period of one to three years.

MANDATORY AUDIT - AN INTEGRATED APPROACH

In addition to standard mandatory audit procedures aimed at confirming accounting (financial) statements, we check taxes, the correctness of calculation of the taxable base and the correct completion of declarations.

From 2018, audit secrecy will likely be abolished

The corresponding Draft Law No. 96436-7 on amendments to Articles 82 and 93.1 of the Tax Code of the Russian Federation has already been submitted to the State Duma.

Let us recall that according to the current version of Article 82 of the Tax Code of the Russian Federation, when implementing tax control The collection, storage, use and dissemination of information about a taxpayer obtained in violation of the requirement to ensure the confidentiality of information that constitutes a professional secret of other persons, in particular attorney-client privilege, and audit privilege, is not permitted.

However, from January 1, 2018, it is proposed to exclude audit secrecy from this article. In addition, it is proposed to establish the right officials The Federal Tax Service Inspectorate shall request from auditors documents (information) obtained by them about the taxpayer during audit activities and during the provision of other audit-related services. The requested documents must be related to the calculation and payment (withholding, transfer) of tax (fee) and can be requested from auditors if the taxpayer has not submitted them to the Federal Tax Service on his own.

So the sphere accounting and reporting, as well as tax obligations companies are becoming more transparent.

To avoid ending up with an audit report containing numerous caveats by March 2018 when closing the 2017 financial year, we advise companies to:

1. Order an audit at the beginning of the year (in the first, second quarter).

   This way, you can eliminate the repetition of errors in your reports in subsequent quarters and reduce the burden on accounting at the end of the year.

2. Break down the audit into quarters.

   Its cost will be evenly distributed throughout the year and will not require a one-time diversion of funds from economic activity companies.

3. Do not treat the audit as a formal procedure only for submitting financial statements.

   Why deprive yourself of the opportunity to receive quality feedback on the state of affairs of the company.

4. Take the choice of an audit company seriously.

   The market is saturated with many offers, both from individuals and from various companies. Read here what you need to pay attention to.

5. Do not forget that for the absence of an audit report or failure to enter the relevant information into the Unified Federal Reserve System, you can receive a large fine.

What will you get when collaborating with Pravovest Audit:

1. As part of the audit agreement, clients receive bonuses in the form of useful services during the reporting year
2. assistance from tax lawyers and attorneys as additional guarantees - within 3 years after the audit.
3. when selecting auditors for 2017 in advance, the company fixes the price offer in rubles at the current cost, with services provided until the end of March 2018.

Additional bonuses:

1. from the moment the agreement is concluded, it is possible to directly consult with auditors and tax lawyers throughout the year and until March 31, 2018;
2. VIP-seminars in the “Round table” format. Practice of application of legislation, discussion latest changes. Professional accountants receive a 10 hour IPB certificate for each visit;
3. notes on the results of the seminars;
4. at the Customer's option, additional legal examination of standard contracts, constituent and other documents can be carried out; an assessment of the prospects was given litigation; others produced necessary actions to eliminate economic risks in the organization’s activities;
5. analysis of the tax burden and the likelihood of a tax audit using the methods of the Federal Tax Service, determining the size of possible tax risks, reserves and ways to reduce costs;
6. 1C database audit.

Accounting in an organization is an important system that allows owners and managers to quickly obtain data on the state of affairs at the enterprise. No one doubts that the data in this system must be correct and up-to-date. That is why an audit of financial statements is provided.

Mandatory audit

In cases established by law, such an audit of financial statements is mandatory nature. A mandatory audit of an enterprise's financial statements is provided, for example, for open joint-stock companies, banks, stock exchanges, insurance companies, as well as for companies whose revenue for the previous reporting year amounted to more than 400 million rubles. or the amount of assets on the balance sheet as of the end of the year preceding the reporting year is more than 60 million rubles. These are the requirements of Art. 5 of Federal Law No. 307-FZ of December 30, 2008 “On Auditing Activities”. In other cases, verification of reporting is optional, but desirable. The main purpose of a reporting audit is to confirm its reliability.

Objectives of the audit of financial statements

In the process of auditing the financial statements of an enterprise, the auditor must solve the following tasks:

1. Assessing the correctness of the composition and content of the enterprise reporting forms themselves.
2. Assessment of compliance and interconnection of reporting indicators.
3. Assessing the correctness and compliance of the accounting and taxation methods used in the organization with current legislation.
4. Assessing the correctness of the formation of consolidated reporting.

As a rule, to perform these tasks, the auditor will need a balance sheet, profit and loss statement, and cash flow statement for verification. cash, Statement of Changes in Equity, Appendix to balance sheet, report on the intended use of funds received, explanatory note. The auditor will also request balance sheets, general ledger. As a result, the auditor must answer the question of whether the financial statements are reliable and whether the methodology for their preparation complies with legal requirements.

Main stages of financial statements audit

As part of an audit of financial statements, a specialist auditor goes through the following mandatory stages.

Preparatory or introductory stage of verification. At this stage, the auditor gets acquainted with the company and receives the most complete information about the company’s activities. At this stage of the audit, the auditor studies the regional and industry characteristics of the company, the degree of automation of accounting processes, the company’s financial obligations, the organization system internal control.

Audit planning is the second stage of an accounting audit. This is a significant verification stage both in terms of time and the volume of work performed. It is at this stage that an inspection schedule is drawn up, inspection areas are specified in detail, a group of specialists participating in the inspection is formed, and the areas to be inspected are agreed upon with the company. This stage is described in detail in clause 9 of standard No. 3 “Audit Planning”, approved. Decree of the Government of the Russian Federation dated September 23, 2002 N 696. Based on the plan, an audit program is formed. In the future, as necessary, during the inspection itself, the plan and program can be revised.

The third stage is the actual audit itself. At this stage, the collection, assessment and analysis of facts relating to the company’s activities take place. The audit is carried out on the basis of federal and international standards. The following procedures are used in the process of auditing financial statements:

Well, at the fourth and final stage, the results of the audit of the enterprise’s financial statements are summed up and an audit report is drawn up, in which the auditor expresses his professional opinion on the reliability of the financial statements, calculating the level of materiality.

The regulation of Russian business activities is increasingly approaching, which is associated with both the influx of foreign investment and the exit Russian companies to external capital markets.

For effective interaction with Russian and foreign partners in Russia for 2020 international auditing standards were introduced, which seriously influenced the current practice of conducting inspections.

The audit requirements for limited liability companies do not apply to all companies, but only to legal entities , falling under certain criteria. This is due to the fact that most LLCs belonging to small and medium-sized businesses have small financial turnover and do not put their shares or bonds on the market securities, by publishing an issue prospectus, do not attract money from private individuals. Therefore, the need additional check the reliability of their reporting does not arise.

Main criteria for verification

Companies whose activities affect the interests of many third parties or those that have sufficiently high financial performance must undergo a mandatory audit. These criteria are established by audit legislation and are sometimes changed in terms of increasing the thresholds for revenue and.

The requirements for an LLC are divided into two groups: by type of activity and other similar characteristics and by financial indicators. Based on these characteristics, LLCs can be identified that are subject to mandatory audit. Joint stock companies in the form of a PJSC, whose shares are distributed by public subscription, are checked in any case, regardless of compliance with other criteria.

Subjects

The law establishes the following groups of limited liability companies for which an audit of annual reporting is mandatory:

1. By type of activity– banks are required to conduct audits, insurance companies, pension funds, holding companies who prepare consolidated statements for the holding and publish them, companies whose bonds are traded on the organized securities market.
2. According to financial indicators These requirements apply to enterprises with revenue exceeding 400 million rubles, as well as if the currency of the balance sheet asset exceeds 60 million rubles.

If a limited liability company falls under these criteria, the requirements for conducting an audit of its annual financial statements become mandatory. Compared to last year, nothing has changed in these criteria; no new subjects or requirements have appeared.

According to the new goals and objectives of the mandatory audit in 2020, there will be not only standard verification of the accuracy of financial statements and identification of errors arising during accounting, but also business analysis. The first two tasks remain in full and are somewhat expanded, so the responsibility to check the work of internal auditors also falls on the shoulders of external auditors.

The task of business analysis is to identify risks, factors that cause obstacles to the development of the company’s activities, and develop recommendations for such changes in financial and economic activities that will help eliminate these risks.

While the conclusion is subject to mandatory publication starting this year, its business part must be completed as correct and balanced as possible, one should not allow an incorrect interpretation of certain facts of economic life.

Legislation

In addition to the basic laws, mandatory auditing is regulated by the Order of the Ministry of Finance No. 192n, issued on October 24, 2016. They put it into force 30 international auditing standards.

Also, a little later, Order No. 203n was adopted, which approved 18 more standards. Among most significant changes:

• introduction of phased audit principles;
• introduction of the concept of audit evidence;
• changing the form of the conclusion, instead of a standard report, an extended document is offered with an analysis of the organization’s activities, business risks and other issues;
• preparation of a modified report;
• The audit report performed for organizations for which a statutory audit is required must be published.

Responsibility audit organizations With the introduction of new standards, competition has intensified and will also increase, since the publication of reports will give everyone the opportunity to become familiar with the quality of the work of auditors before concluding contracts.

The work of auditors was seriously influenced by repeal of audit secrecy provisions. According to it, employees of audit companies are required to report so-called “strange” client transactions to financial monitoring authorities.

Changes in cost

The new standards have significantly increased the labor intensity of the work of reporting specialists. Seriously changed requirements and the need to fill out additional tables increased the labor costs of specialists for 30-40% , the price for these services should have increased proportionally.

In any case, the cost of the auditor’s services must be approved by the company’s participants, therefore, when the issue of a mandatory audit is brought to a meeting of participants, the price must be determined.

Check procedure

Audit and its essence have not undergone any changes. As a standard, the correctness of accounting is checked on the basis of documents from a certain sample; a complete audit is not carried out. But the volume of information provided has increased significantly, and hence the workload on the accountant.

In addition, the need for business analysis forces the management of the enterprise to take part in the inspection, from which comments will be required on certain risks in the activity. The standards impose on the auditors themselves the responsibility to inform management about shortcomings in the operation of internal audit systems.

The auditor must be determined at a meeting of participants. He begins checking as soon as the reports are ready, but before they are submitted. Thus, the main work on the auditor will be for March– for financial statements, for June- for the tax office.

Taking into account the significant complexity of the requirements, it is better not to take risks and start checking as early as possible; there is a high risk of not having time to prepare a report, which can lead to various sanctions.

In addition, conducting a phased audit will provide accountants and financiers with the opportunity to benefit from consultations with auditors throughout the year. controversial issues tax legislation and accounting.

The result of the check will be drawing up a conclusion, seriously different from previously accepted forms. A collection of recommended forms of opinions has been approved by the Ministry of Finance; it contains recommendations for ordinary and special opinions that are formed based on the results of an audit of consolidated statements.

Can an organization be punished for failing to conduct a mandatory audit? Yes, but sanctions will not follow directly. First of all, she will be denied acceptance of the annual financial statements. Such failure is welcome to laying on it administrative responsibility.

It may also be established that there is a gross violation of the accounting rules, which will lead to administrative fine in size up to 20,000 rubles. Small fines may be imposed for failure to provide a conclusion along with reporting and statistical authorities.

Compared to previous periods, almost nothing has changed, with the exception of the requirements for the inclusion of data on the mandatory audit in the Unified State Register in accordance with Law 129-FZ and the requirements for the mandatory publication of audit results.

Failure to comply with this requirement may be grounds for administrative liability; the manager may be disqualified or subject to a fine. up to 50,000 rubles(Clause 6, 7, 8 of Article 14.2 of the Administrative Code).

The sanctions imposed on the auditors themselves have become more stringent. For unreliable conclusions, they may be subject to sanctions in accordance with the Code of Administrative Offenses, and it is also expected to introduce criminal liability if the preparation of a poor-quality report led to significant losses. Law on criminal liability is still under consideration.

Changes in the inspection procedure, on the one hand, are positive, increasing the transparency of enterprises and the trust of investors and partners in them, on the other hand, disclosure additional information, which is no longer a tax secret, may lead to an increase in the cost of bank loans due to the publicity of certain risks. But in the end analysis of documentation under the new rules should benefit the business.

Why is an audit needed? Details are in this video.