AUDIT OF CALCULATIONS WHEN USING COMPENSATION OPERATIONS
In a difficult economic situation, with an unfavorable influence of external or internal factors, organizations can use compensation operations. In the course of the audit, the auditor should comprehensively consider not only the compensation transactions, but also identify the reasons for such repayment of obligations by the audited debtor or obtaining the performance of obligation by the audited creditor. Compensation transactions may indicate to the auditor a certain aspects of the audit that need special attention. However, this requires effective tools for conducting verification of these operations in the form of working document formats and descriptions of the stages of verification of compensation operations. The purpose of the study is to present an algorithm for conducting an audit of compensation transactions in the course of conducting an audit, indicating the stages and use of audit procedures, as well as to propose working documents for conducting an audit. The used research methods are the grouping and systematization of information, the method of logical generalization, comparative and factor analysis. The article presents an algorithm for checking compensation transactions, considers the tax aspect of the features of compensation accounting, and provides the format of a working document when checking compensation transactions - both in the accounting of the debtor and the creditor. The above algorithm and working documents provide a methodological basis for conducting an audit.
Keywords: compensation transactions, accounts payable, international standards on audit. Highlights:
♦ the article presents the features of taxation of compensation operations for checking the correctness of determining the indicators of tax accounting for these operations;
♦ an algorithm is suggested for checking calculations when using compensation operations;
♦ the formats of working documents for conducting an audit of calculations when using compensation operations, which are tools for conducting an audit, are given.
Elizaveta S. Povarova, Candidate of Economics, Associate Professor of the Moscow State University named after S.Y. Witte.