IDENTIFICATION AND FORMALIZATION OF THE PURPOSE OF AUDIT OF FINANCIAL INFORMATION

The problem of determining the circumstances that affect the identification and formalization of purpose of the audit of financial information is investigated in the article. Particularly, it was found that the purpose of the audit of financial information should be determined according to taking into account both aspects inherent to audit and aspects related to the implementation of the information needs of users of audit results. We propose to systematize these aspects as the following components of model for identification of purpose of the audit of financial information: aspects necessitating the emergence and existence of audit; content of audit measures; procedural aspects of formalizing of results of the audit. Each of these aspects has a direct effect on formalized definition of the purpose of audit. The application of the model made it possible to substantiate the definition of the purpose of audit of financial information as an assurance to users of financial information by the expression of opinion of auditor, based on results of evaluation of conformity implementation of tasks for their expectations. Thus, the result of the research is the development the approach to for identification and formalization of the objective of audit of financial information with regard to the existence and functioning of the audit as a form of control and the interests and expectations of users of its results. The proposed formalized definition of the purpose of audit, in our opinion, is taking into account aspects of identification, regardless of the sources of financial information, that resolves the problem of restrictions of prospective and hypothetical information auditing.