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RELATIONS OF FOREIGN ECONOMIC ACTIVITY ENTITIES AND AUDITING ENTITIES

Journal: Academic Bulletin "Economics and Region" (Vol.5, No. 54)

Publication Date:

Authors : ;

Page : 121-126

Keywords : auditing; foreign trade; Economic Code of Ukraine; auditing services; international standards; engagement letter;

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Abstract

The process of establishing relations between the foreign economic activity entities and the auditing entities has been considered. The prerequisites for taking an audit order (namely obtaining the managers’ consent, providing information to the auditor, obtaining the information about the main owners’ honesty, determining the ability of a company or a group to comply with ethical requirements and internal standards of the company) are presented. The necessity of providing the working papers at the agreed procedures (namely engagement letter, business fraud test) is emphasized. Rights and obligations of auditors and audit firms are specified. Procedures of the audit activity entities and the foreign economic activity entities interaction have been developed.

Last modified: 2016-07-20 16:09:46