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 a 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. Accounting and tax reporting are analyzed. 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 on whether the information presented in the financial statements is reliable or not.
• 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 auditor's 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 checks have been 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 the 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 regulation of Russian business activities is increasingly approaching, which is associated with both the influx of foreign investment and the entry of Russian companies into foreign 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.

Audit requirements for companies with limited liability 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, do not list their shares or bonds on the securities market by publishing a prospectus, and do not attract money from individuals. Therefore, there is no need for additional verification of the reliability of their reporting.

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 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– audits are required to be carried out by banks, insurance companies, pension funds, holding companies that 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 audit requirements are annual financial statements become mandatory for her. 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.

With the introduction of new standards, the responsibility of audit organizations has increased, and competition 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. The correctness of the entry is checked as a standard accounting Based on documents from a specific 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 give accountants and financiers the opportunity to benefit from consultations with auditors on controversial issues of tax legislation and accounting throughout the year.

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 leads to the imposition of administrative responsibility on her.

It may also be established that there has been a gross violation of the accounting rules, which will lead to an administrative fine in the amount of 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. The 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, the disclosure of additional information, which is no longer a tax secret, can lead to an increase in the cost of bank loans due to the publicity of some 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.

Mandatory audit in 2019. What has changed, where to submit the report?

Criteria for mandatory audit in 2019.

1. Sanctions for failure to submit an audit report in 2019.
2. When to enter into an audit contract for 2019

For 2019, financial statements with an audit report will be submitted only to the tax authority, the criteria for mandatory audit will change, and the liability for not conducting a mandatory audit will increase.

What are the criteria for mandatory audit in 2019?

An audit in 2019 is a necessary check and one of the ways to confirm the company’s work in accordance with the law. Mandatory audits are carried out primarily to avoid conflicts with regulatory authorities, as well as to gain the trust of their clients and potential investors.

In what cases a mandatory audit is carried out for 2019 is enshrined in Federal Law No. 307-FZ “On Auditing Activities”, including:

• Banks, insurance companies and certain other types of organizations are subject to audit in cases provided for by regulations:
• Organizations preparing consolidated statements in accordance with Law 208-FZ “On Consolidated Reports”;
• Companies offering securities publicly;
• Groups of interrelated organizations, as a single economic entity that composes financial accounting statements;
• The company is a joint stock company.
• Mandatory verification may be established by federal laws. For example, for microfinance companies and developers, for organizers of gambling and issuers of securities.
• The company's revenue for the previous reporting year was more than 400 million rubles;
• The value of balance sheet assets at the end of the previous year exceeds 60 million rubles;

A mandatory check is carried out if at least one of the listed grounds is met.

Lawmakers plan to change audit criteria in 2019. The draft law has already been prepared for the second reading (No. 273179-7). There is reason to believe that from 2020 the audit criteria will change:

• the amount of assets on the balance sheet will increase as of the end of each of the two consecutive years preceding the reporting year - up to 200 million rubles;
• revenue will increase from 400 million rubles. The new criterion is for each of the two consecutive years preceding the reporting year up to 600 million rubles;
• will introduce a new criterion for the number of employees - at least 100 people for each of the two consecutive years preceding the reporting year.

So far in 2019, the bill has not yet been adopted, and the old criteria of 2018 continue to apply. But next year, 2020, the changes may come into force and the audit will be carried out according to different criteria.

Sanctions for failure to provide audit reports in 2019.

If your company falls under the conditions for a mandatory audit, then no later than December 31, 2020, you need to submit an audit report on the 2019 financial statements to the tax authority. At the same time, the audit report must be submitted no later than 10 working days after the date of the audit report. (Clause 2 of Article 18 of the Law of December 6, 2011 No. 402-FZ “On Accounting”).

There is also liability for failure to provide information about the consequences of a mandatory audit or not timely entering it into the Unified register about the facts of legal activities. persons: established fine from 5 to 50 thousand rubles. (Clause 6–8 of Article 14.25 of the Code of Administrative Offenses of the Russian Federation).

For the absence of an audit report within the established storage periods (from 5 years), found during an on-site visit tax audit- there may be a fine from 5,000 to 10,000 rubles. (Part 1 of Article 15.11 of the Administrative Code).

It should always be taken into account that the imposition of fines and sanctions does not relieve the responsible person from the obligation to perform an audit and provide a conclusion on it.

Where should the audit report for 2019 be submitted?

The audit report must be submitted to Rosstat. When the auditor's report on the annual financial statements is ready before the balance sheet is submitted, it can be submitted with the financial statements.

It follows from this that the audit report for 2018 must be submitted to Rosstat no later than December 31, 2019.

For 2018, the tax audit report is submitted only at the request of the tax service.

The annual financial statements, together with the audit report for 2019, will be submitted only to the tax authority at the location of the company in the form of an electronic document. In 2020, there is no need to submit either reports or conclusions to Rosstat!

The period for submitting annual reports to the Federal Tax Service remains the same: no later than 3 months after the end of the reporting period, as a rule, the deadline for submitting reports is April 1.

The conclusion on the mandatory audit for 2019 must be submitted to the tax office in electronic form along with the accounting record. reporting or within 10 working days after the date of issue of the conclusion. The deadline is no later than December 31 of the following reporting year (Article 18 of Law No. 402-FZ).

The next version of Article 18 of the Law on Accounting comes into force in 2020; the transfer of financial statements in 2019 (for 2018) will be carried out as before - to the statistical authorities.

Therefore, annual financial statements and auditor’s report for 2019 must be submitted only to tax authorities– already next year 2020.

The amount of the fine and sanctions will depend on whether a mandatory audit was necessary?

If there was a need, then the fine, as a rule, will be much larger.

Thus, sanctions for the audit report for 2019 (failure to provide it) will increase significantly. In this regard, we ask you to be careful and do not forget to carry out the audit on time!

Type of violations according to the 2019 Accounting Reports in the Federal Tax Service, fines under Article 15.11.1 of the Code of Administrative Offences.

1). Did not submit accounting reports or submitted them in full - a fine for officials of 50-70 thousand, for legal entities 100-200 thousand;

2) Failure to submit audited reports and AZ or submitting them incompletely - a fine of 80-100 thousand for an official, 300-500 thousand for legal entities.

3) Failure to submit accounting reports by December 31 of the following reporting year - a fine of 80-100 thousand for officials, 200-300 thousand for legal entities.

4) Failure to submit audited reports and AZ by December 31 - a fine for officials of 100-200 thousand, for legal entities - 500-700 thousand rubles.

When to conclude an audit agreement for 2019?

It must be remembered that the audit is carried out not only for statistics and the tax office! First of all, the owners of the company need an audit study in order to assess to what extent they can trust the accounting statements and make the right management decisions.

Most statutory audit entities are required to carry out annual audits in accordance with established Russian laws. The audit must be objective, confirming the reliability of the specified data in the financial accounting statements, transparency and correctness of accounting and tax accounting in accordance with the norms established by law. This is an indicator of the stable and orderly operation of companies. A mandatory audit every year from our company Audit Expert LLC is carried out by most companies - this is the implementation of audit procedures in accordance with current requirements and methods. This analysis is carried out by highly qualified specialists who, based on the results of the work done, present to their clients a detailed audit report and report on the work done at the end of the study.

If your company is subject to a mandatory audit, and you conduct it (having received an opinion), then you will comply with the requirements of the law. But you need to understand that mandatory auditing is not a panacea for all vulnerabilities and errors. This fact is due to the fact that a statutory audit assumes that the research is carried out only to express an opinion on the reliability of the accounting (financial) statements. Thus, tax reporting is also checked, i.e. only from the point of view of reliability.

This approach does not provide you with protection from tax risks and tax overpayments. In the practice of Audit Expert LLC, the detection of such cases is not uncommon, incl. and in enterprises that previously conducted mandatory audits.

For example, organizations often do not accrue reserves for doubtful debts and for vacation pay in accounting and tax accounting. During the audit, our experts explain in detail:

— how to correctly calculate these reserves, which helps to significantly reduce the amount of income tax,

— and also prevent additional taxes and penalties.

According to our experience, we help reduce tax risks in every second company. What if your company overpays or underpays taxes?

It is important to note that a statutory audit is an audit only at the end of the audited year. Therefore, when they remember about the mandatory audit, it is no longer possible to prevent errors in a timely manner and find solutions to the company’s financial problems. In many cases, “after the fact”, after the end of the reporting year, nothing can be changed. But if you conclude an audit agreement in advance before the end of the year, our auditors will have time to identify all potential errors, and your accountant will submit correct financial statements for 2019. The date of conclusion of the contract has virtually no effect on the price of the audit - but pre-audited statements will have virtually no accounting errors. And the audit report will most likely be positive!

Do not delay in choosing an audit company; sign an audit agreement in advance - before the end of the reporting year.

IN recent years The state has taken a course towards maximum openness and transparency of information about economic entities. Changes are being made in all areas. The auditing industry has not been left behind. The main goal of the amendments is to increase business transparency, reduce pressure on honest companies, and bring tax offenders out of the shadows to eliminate unfair competition.

Changes since 2017 in the field of mandatory audit of financial statements

1. Requirement for the preparation of audit reports in accordance with ISAs since 2017. What should we expect?

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:

increase in the number of audit procedures

increase in the volume of data required to analyze the activities of audited companies

new quality standards for mandatory audits

new standards of information in the auditor's report

introduction of a modified opinion in the conclusion

For audited companies this means:

PROS: improving the quality of business risk assessment; a conclusion that will contain not only an assessment of the company’s financial statements, but also pay attention to significant risks for the business, etc.; expanded report information for accounting and for external and internal interested users: shareholders, board of directors, etc.

CONS: increase in the cost of mandatory audit since 2017; increasing the deadline for providing an audit report; increase in the cost of bank loans for companies (due to an increase in the level of transparency of the company’s activities and reflection of all identified business risks in the audit report)

2. Information about taxes, fines, income and expenses, and 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 financial statements.

On July 1, 2017, the publication of this information in the public domain on the official website of the Federal Tax Service on the Internet began.

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.

3. Information about the mandatory audit is posted on the Federal Resources website

From October 1, 2016 in Russia, the results of the mandatory audit of accounting (financial) statements become public. Corresponding amendments were made to Federal law“On auditing 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 http://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.

4. From 2018, audit confidentiality 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 remind you that, according to the current version of Article 82 of the Tax Code of the Russian Federation, when exercising 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 constituting the professional secret of other persons, in particular attorney-client secret, audit secret, is not allowed.

However, from January 1, 2018, it is proposed to exclude audit secrecy from this article. In addition, it is proposed to establish the right of officials of the Federal Tax Service to request from auditors documents (information) received by them about the taxpayer during audit activities and in 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 area of ​​accounting and reporting, as well as tax obligations of companies, is becoming more transparent.

So that by March 2018, when closing the 2017 financial year and submitting annual financial statements, you do not end up with an auditor’s report, containing numerous reservations, We advise companies:

Conduct an audit in 2 stages (stage 1 - based on the results of the 9th month of 2017 in October-December 2017, stage 2 - based on the results of 2017 in the first quarter of 2018).

In this case, the auditors will complete almost the entire amount of work before the end of the reporting year, which will allow the organization to take into account their conclusions and recommendations in order to approach the annual report without distortions and errors in accounting. In this case, the organization will be able to eliminate haste and errors in reports and reduce the burden on accounting at the end of the year.

It is no secret that accounting and preparation of tax returns are the sphere of activity of the chief accountant. However, managers and founders should remember that responsibility for the accountant’s mistakes extends to them too.

As is known, if there are significant accounting distortions, the audit report may be negative, which will require the organization to additional costs associated with correcting the identified violations. For a re-audit of the revised financial statements, this means an additional payment for the auditors’ time for verification and the time period for issuing an opinion will also increase. For the audit of the revised financial statements, you will need to make an additional payment, since the amount of work of the auditor increases, and accordingly, the deadlines too.

Carrying out the bulk of the work based on the results of reporting for 9 months will help both the accounting department and the auditors to avoid these troubles. And even after receiving a report with a list of significant errors made when preparing reports for 9 months, the organization will have time to make the necessary corrections in accounting and receive a positive audit report at the end of the year

If auditors first come to the company in February-March, the accounting department has too little time to make changes. At the same time, accountants prepare the annual report and experience double workload, which does not have the best effect on the results.

- Break down the audit by year.

When conducting an audit in two stages, its cost will be evenly distributed over 2017-2018 and will not require a one-time diversion of funds from the company’s economic activities in 2018.

- Do not treat the audit as a formal procedure only for submitting financial statements. The formal approach and formal attitude towards auditing have sunk into oblivion. Today, this is not acceptable both on the part of the audited entities and on the part of the auditors.

Why deprive yourself of the opportunity to receive quality feedback on the state of affairs of the company? The organization's accountants will correct identified inconsistencies in a timely manner, and will not spend a lot of time and effort on this, as they would have spent correcting documents retroactively.

If errors are discovered only at the beginning of the next year, the accounting department spends time clarifying declarations, and the company spends money on additional payment of arrears and penalties.

Let us remind you that from October 1, 2017, the rules for calculating penalties for organizations will change. The innovations concern the arrears that will arise from October 1, 2017 . If the delay exceeds 30 calendar days, penalties will be calculated as follows:

• based on 1/300 of the refinancing rate of the Central Bank of the Russian Federation, valid in the period from the 1st to the 30th calendar days (inclusive) of such delay;
• based on 1/150 of the refinancing rate of the Central Bank of the Russian Federation, relevant in the period starting from the 31st calendar day overdue, which is commensurate with the interest paid on bank loans.

- Take the choice of an audit company seriously.

The market is saturated with many offers, both from individuals and from various companies. Our company “FIN-AUDIT” has been on the audit services market for the 17th year.

Business reputation and work quality standards are impeccable. We are always ready for a constructive dialogue with audited entities on issues that arise during the audit.

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.

The audit of financial (accounting) statements for 2017 is required to be carried out by:

• legal entities whose revenue in 2016 exceeded 400 million rubles.
  or balance sheet assets at the end of the year exceed 60 million rubles.
• developers within the framework of Federal Law 214-FZ
• companies preparing consolidated financial statements
• joint stock companies, including non-public ones.
• public offering companies
• banks, insurance companies and some other categories in cases established by laws No. 307-FZ “On Auditing Activities”, 208 Federal Law “On Consolidated Reporting”.

Let us recall that according to Federal Law No. 402-FZ, the company must provide an audit report to the territorial division of Rosstat either simultaneously with the submission of financial statements, or no later than 10 working days from the day following the date of the audit report, but no later than December 31 of the year following reporting.

A company that falls under the mandatory audit criteria cannot choose whether or not to submit an audit report to the statistical authorities. You will definitely have to give it up.

We wish YOU successful completion of the 2017 audit. Our company “FIN-AUDIT”, in turn, is ready to provide a high-quality approach when carrying out audit procedures and preparing an audit report.

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:

Pros:	Cons:
improving quality in business risk assessment a conclusion that will contain not only an assessment of the company’s financial statements, but also pay attention to significant risks for the business, etc. expanded report information for accounting and for external and internal interested users: shareholders, board of directors, etc.	increase in the cost of mandatory audit since 2017. Extending the deadline for providing an audit report increase in the cost of bank loans for companies (due to an increase in the level of transparency of the company’s activities and reflection of all identified business risks in the audit report)

Information on taxes, fines, income and expenses, and 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 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 Auditing 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.

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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.

We would like to remind you that, according to the current version of Article 82 of the Tax Code of the Russian Federation, when exercising 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 the professional secret of other persons, in particular attorney-client secret, audit secret, is not allowed.

However, from January 1, 2018, it is proposed to exclude audit secrecy from this article. In addition, it is proposed to establish the right of officials of the Federal Tax Service to request from auditors documents (information) received by them about the taxpayer during audit activities and in 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 area of ​​accounting and reporting, as well as tax obligations of companies, is 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 prevent 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 the company’s economic activities.

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 can be carried out standard contracts, constituent and other documents; an assessment of the prospects for litigation is given; other necessary actions have been taken 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.