Author(s): Povarova E.S.

Rubric: Economy

DOI: 10.21777/2587-554X-2020-3-29-37

Release: 2020-3 (34)

Pages: 29-37

Keywords: SMEs, small businesses, small businesses, audit, criteria for small businesses, regulatory legal acts

Annotation: Small businesses are an important category for the economy of a region or country. Even though not all these organizations meet the criteria for conducting a mandatory audit, conducting an initiative audit increases the degree of confidence in the reporting of these organizations. However, conducting an audit in organizations that are small businesses has certain features due to their use of simplified methods of accounting and reporting. At the same time, at the planning stage, the auditor should evaluate the right of the audited entity to use simplified accounting methods by performing audit procedures. The article presents the formats of working documents that can be used by the auditor when conducting an audit of small businesses at the stage of planning and performing substantive audits. The article elaborates in detail the regulatory and legal framework for determining the object of audit activity, examines and clarifies the main criteria that make it possible to classify an economic entity as a small business entity.

Bibliography: Povarova E.S. FEATURES OF AUDIT OF SMALL BUSINESSES // Economics and Management. – 2020. – № 3 (34). – С. 29-37. doi: 10.21777/2587-554X-2020-3-29-37

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