— State unitary enterprises with annual revenues of more than 500,000 minimal wages or total assets at the end of year of more than 200,000 minimum wages (for municipal unitary enterprises financial parameters can be lowered by the law of the subject of the Russian Federation); — Organizations or individual entrepreneurs obligatory audit of which is stipulated by the Federal Law. Obligatory audit can be carried out only by audit organizations; individual auditors have no right to carry out such activities. Result of the audit of financial reporting is audit report confirming its reliability. Auditor report is an official document intended for users of the financial (accounting) reporting of entities under audit, made in compliance with federal rules (standards) of audit activities and containing the opinion of an audit or consulting organization or individual auditor expressed in the established form about reliability in all material aspects of the financial (accounting) reporting of an entity under audit and conformity of accounting with the legislation of the Russian Federation. Audit report can be: Unqualified. Unqualified audit opinion takes place when an auditor comes to the conclusion that the financial (accounting) reporting gives true and fair view of financial position and results of financial and economic activities of the entity under audit according to the established principles and methods of conducting of book keeping and preparation of financial (accounting) reporting in the Russian Federation (a level of reliability of the reporting: provides in all essential aspects reflection of assets and liabilities of an economic entity as for reporting date and financial results of its activities as for the reporting period proceeding from statutory acts); Modified. Audit report is considered to be modified if there are factors not influencing auditor's opinion but described in audit report to attract attention of users to any circum stances of an audited entity revealed in financial (accounting) reporting, or factors influencing auditor's opinion which can result in qualified audit report, refusal of expression of opinion or negative opinion (a level of reliability of reporting: provides in all essential aspects, except for the circumstances determined in the report, reflection of assets and liabilities as for reporting date and financial results as for the reporting period proceeding from statutory acts); Qualified audit report. Accredited professional audit associations are associations which include not less than 1000 auditors and (or) not less than 100 audit organizations established according to the lation of the Russian Federation to create of conditions for audit activities of their members and protection of their interests, operate on a noncommercial basis, establish obligatory standards of work and a professional etiquette for their members, carry out control over their observance, and have accreditation of an authorized federal body. Under the Regulation of the Government of the Russian Federation of 06.02.2002 No. 80, authorized federal executive authority which carries out state regulation of audit activities in the Russian Federation is the Ministry of Finance of the Russian Federation. From 01.01.2009 the licensing of audit activity will be cancelled. Membership in selfregulated authorities will be necessary for all audit organizations. List of accredit in Ministery of Finance Auditors Organizations: № Name 1 Non-profit-making partnership «Institution of professional accountants and auditors of Russia»
Adress 125009, Moscow, st. Tverskaya 22b-3
2 Non-profit-making partnership «Audit Chamber of Russia» 3 Non-profit-making partnership « Audit Chamber of Moscow »
107120, Moscow, 3-d Siromjatnecheinskii , 3/9 103031, Moscow, Petrovskii pr. , 8 -2
Contacts Tel. (495) 975-72-00, 694-53-30 Fax (495)699-46-45 www.ipbr.ru Tel/Fax (495)781-24-79 www.aprussia.ru Tel/Fax (495) 694-01-56, 694-01-08, 629-32-64, 147
Published on Jul 6, 2010
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