Basic principles of audit

The principles of auditing are the basic standards,which are mandatory for execution by absolutely all independent auditors and firms engaged in providing audit services in their professional activities. These principles establish the appropriate minimum quality that customers expect when they contact auditors to assist them in verifying or arranging the circulation of financial documents. These principles should be observed regardless of the scope and nature of the audits, as well as the range of activities of the audited economic entities.

Auditing principles are designed to provideguarantees of the results of conducted inspections. Under conditions of changing economic realities, they are periodically subject to changes and revision, but the basic principles of these principles remain unchanged. They determine the approach to inspections, the scope of inspections, methodological issues, types of reporting and conclusions.

When conducting financial audits, a number of mandatory rules must be observed. Ethical professional principles of audit should be used as a basis for decision-making.

The basic principles of the audit include objectivity, integrity, professional conduct, integrity, independence and confidentiality.

The general principles of audit, first of all,they mean objectivity. It is impartiality, impartiality and lack of control over anyone's influence in the performance of their professional functions during the audit, as well as in the formulation of conclusions and the conclusion of the conclusion.

The principle of independence is understood as the absencethe audit firm or individual auditor has a related, material, financial or other interest in the results of the audit. In addition, the auditor should also not be in any way dependent on a third party that can exert pressure on him, influencing the conclusions that he can draw from the results of a particular activity.

The principles of the audit include professionalcompetence, which implies the possession of a proper amount of knowledge and the possession of the necessary skills that can enable the auditor to provide qualitative and qualified services.

Professional behavior of the auditor assumesfull observance of public interests, ability to maintain the reputation of one's own profession, not to commit acts that are incompatible with the provision of professional services and which can lead to a loss of trust on the part of service customers, damage the image of the profession.

The principle of good faith requires, when rendering services by the auditor, the use of their abilities and powers with care, thoroughness and promptness.

The principle of confidentiality requires auditorsensuring the safety of all documents that they receive or make during inspections. Auditors do not have the right to transfer these documents or copies of documents to third parties, inform them the information contained in the documents, without the permission of their owners, except in cases stipulated by law.

In the event that the audit firm orthe auditor is a member of the trade union, they should adhere to the rules of ethics, which provide for documents accepted on a voluntary basis by this union.

The audit principles state that in the course of planningauditors should treat all their actions and information at their disposal critically, with a share of sound skepticism, because there are always circumstances that can lead to a conscious or unconscious distortion of financial information.