Author(s): Povarova Elizaveta Sergeevna

Rubric: Economy

DOI: 10.21777/2587-554X-2018-2-50-55

Release: 2018-2 (25)

Pages: 50-55

Keywords: provision for unused vacation, valuation obligation, audit procedures

Annotation: In the area of accounting regulation, there is a tendency for Russian accounting standards to converge with international financial reporting standards. The main provision, taken from the concept of international standards, is a reflection of the current value of the articles of accounting (financial) statements. One such provision is the creation of provision in the accounting, in order to reflect reliable data in the reporting, thereby increasing the informativeness of accounting users. The article discusses the features of the creation of provision for unused vacation in the company. The types of vacation, depending on the activities of the companies, influence on the provision of vacation. Their influence on the formation of the provision for unused vacation is considered in the article. The author has identified the factors that affect the risk of material misstatement of the formed provision for unused vacation for the preparation of accounting (financial) statements of the audited entity. The list of factors given in article promotes carrying out qualitative carrying out analytical procedures. Audit procedures have been proposed to verify provision for unused vacation. The article offers models of working documents for the auditor to determine the possibility of distortion of the articles of accounting (financial) statements.

Bibliography: Povarova EL.SE. AUDIT OF PROVISION FOR UNUSED VACATION // Economics and Management. – 2018. – № 2 (25). – С. 50-55. doi: 10.21777/2587-554X-2018-2-50-55

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