Institutional Aspects of Choice and Application of Audit Procedures

The purpose of the article is to identify the substantive characteristics and possibilities of application of audit procedures in the context of the implementation of its functions as of a public institute. On the base of application of the method of abstraction, it is established that the main elements of the audit institution that affect the features of planning, implementation and evaluation of audit procedures are the institutions, the subject of the audit and the functional content of the procedures. It's found the following types of procedures: providing, implementation, identification, evaluation, comply with ethical requirements and quality control. It is determined that there are differences in the procedures performed by public and independent audit entities. The reason for such differences is the integration of public audit entities into the public resource management system. Differences are characterized, in particular, by the lack of procedures in the state audit for compliance with ethical requirements and quality control. Instead, independent auditing entities are delegated by law to perform procedures that are not directly related to audit tasks. The subject area of the audit performed by state institutions is limited by the use of state resources. This makes it impossible to use the results of the audit by public groups that do not participate in these processes. The functional workload of audit procedures determines the possibility of their use for the implementation of executive and information functions by the subjects of state audit, as well as the information function of audit firms and private auditors. The problem of restrictions on using of audit procedures in the audit institute functioning context is proposed to be solved by amending the regulations. Such changes will help expand the powers of public audit entities in the selection and application of audit procedures.