In an effort to implement the large-scale task of developing and implementing coordinated and interrelated standards of professional ethics for auditors, the Audit Council under the Ministry of Finance Russian Federation with the active participation of professional audit associations accredited by the Ministry of Finance of Russia, a Code of Ethics was developed professional activity auditors and adopted by the Council on August 28, 2003.
Code of Ethics for Auditors is a detailed official list of values and principles that Russian auditors are guided by in their professional activities.
In accordance with the terms of the code, it must be recognized that the main goal of the audit profession is the activity of specialists at the highest professional level, ensuring the quality of the performance of tasks and the satisfaction of public interests.
Compliance with ethical standards of professional behavior is achieved by the high responsibility of auditors. Compliance with universal and professional ethical standards is an indispensable duty and the highest duty of every auditor, manager and employee of an audit firm.
Principles to be followed by every auditor
The Code of Ethics for Auditors sets out the fundamental principles that every auditor must comply with: honesty, independence, objectivity, professional competence and due diligence, confidentiality, management of regulatory documents and other principles.
Under honesty not only truthfulness is understood, but also impartiality and reliability. In accordance with the principle of objectivity, all auditors must act fairly, honestly and have no conflict of interest.
Auditors must exercise objectivity in the performance of their functions. Objectivity means impartiality, impartiality and not subject to any influence when considering professional issues and forming conclusions and conclusions.
Subject to the ethical requirements of objectivity, one should:
- avoid relationships that allow bias, partiality or the influence of others to the detriment of objectivity;
- not accept or offer gifts or hospitality that can reasonably be expected to have a material and inappropriate effect on auditors' professional judgment.
When expressing consent to the provision of services, the auditor must be sure that he will perform the work at a high professional level. The auditor should refrain from providing services in an area where he is incompetent unless he is assisted by appropriate specialists. Auditors must perform audit services with due diligence, competence and diligence. It is their responsibility to constantly improve their knowledge and experience at a level that would give both the management and the client confidence in high quality. professional services based on constantly updated information in the field of legislation, methodology and audit practice.
Professional Competence- Possession of the necessary amount of knowledge and skills, allowing the auditor to provide professional services in a qualified and high-quality manner.
Auditors should not exaggerate their knowledge and experience.
Confidentiality- one of the audit principles, which is that auditors (audit organizations) are obliged to ensure the safety of documents received or compiled by them in the course of audit activities, and are not entitled to transfer these documents or their copies (both in full or in part) to any either to third parties or to disclose the information contained therein orally without the consent of the owner (manager) of the audited entity, with the exception of cases provided for by legislative acts of the Russian Federation.
Data obtained in the course of an audit conducted on behalf of the body of inquiry, prosecutor, investigator, court and arbitration court may be made public only with the permission of these authorities and in the form in which the said authorities recognize it as possible.
The principle of confidentiality must be strictly observed, even if the disclosure or dissemination of information about the inspected economic entity does not cause material or other damage to it.
In accordance with the terms of Article 8 of the Law of the Russian Federation “On Auditing Activities”, audit organizations and individual auditors are required to keep secret about transactions in organizations where audits were carried out or to which services related to the audit were provided. Confidentiality includes a duty to keep information from being disclosed and includes a requirement for an auditor who receives information in the course of performing professional services not to use that information for personal purposes or for the benefit of a third party.
The Code of Ethics for Auditors stipulates the following basic professional requirements for confidentiality, which include non-disclosure of information of the following nature:
- information about facts, events and circumstances privacy citizen, allowing to identify his personality (personal data), with the exception of information to be disseminated in the media mass media in cases established by federal laws;
- information constituting the secret of the investigation and legal proceedings;
- official information, access to which is restricted by authorities state power in accordance with federal laws and regulations (official secret);
- information related to professional activities, access to which is restricted in accordance with the Constitution of the Russian Federation and federal laws (medical, audit, notarial, lawyer secrecy, secrecy of correspondence, telephone conversations, postal items, telegraphic or other messages, and so on);
- information related to commercial activities, access to which is restricted in accordance with federal laws and regulations (commercial secret);
- information about the essence of an invention, utility model or industrial design before the official publication of information about them.
Independence- this is a mandatory lack of interest (financial, property, related or any other) from the auditor when forming his opinion in the affairs of the audited organization or dependence on third parties.
It is in the public interest that all auditors and audit firms should be independent of audited entities and third parties.
The most effective audit is carried out by independent auditors. In the current legislation (Article 12 of the Law of the Russian Federation "On Auditing") there are restrictions that stipulate the conditions for the independence of audits. The following table indicates the main requirements for legal and individuals in the limitations during the audit:
Reputation of the audit firm
In their activities, auditors must comply with a number of prerequisites or basic principles that not only allow you to create a good reputation for the audit firm and its employees, but also are generally accepted ethical standards of conduct in this area. These principles include Integrity and Professional Conduct.
good faith- involves the provision of professional services by the auditor with due diligence, promptness and proper use of their abilities. At the same time, the diligent and responsible attitude of the auditor to his work should not be taken as a guarantee of error-free auditing.
professional conduct— observance of the priority of public interests and the obligation of the auditor to maintain the high reputation of his profession, refrain from committing acts incompatible with the provision of audit services
Professional ethics The auditor is not limited to these few rules of conduct. The concept of professional conduct extends to all areas of the auditor's activity. Ethics and its disciplinary influence are the basis of self-regulation of their activities. Auditors must keep the interests of others in mind at all times. No matter how difficult their solution is, it is necessary, given the technical details, to remember the essence of the problem. It is impossible to overestimate the importance for accountants and auditors of understanding the very spirit of the profession that influences other people.
Auditor Code of Ethics establishes standards of conduct for auditors, defines the fundamental principles that must be observed by him in the course of the performance of his professional functions.
To develop professional ethics, the provisions of general ethics are used. Ethics is a branch of philosophy that deals with the systematic study of the problem of human choice, the concepts of good and bad that a person is guided by, and the meaning that ultimately has. Need for regulation ethical behavior professional groups arose in connection with the responsibility of its representatives to society.
Auditors have a responsibility to society, including to all who rely on their objectivity, honesty, independence, which contributes to the maintenance of normal functioning commercial activities.
Professional ethics includes code of practice, which are of a framework nature, however, even if they exist, the problem of choice in a particular case remains with the professional:
- imperative- is based on strict rules that should be followed, the disadvantage is that only compliance with the rules is considered, and not the consequences of actions;
- utilitarian- the consequences as a result of actions are studied, and not compliance with the rules (i.e., exceptions to the rules are allowed), the disadvantage is that this approach gives positive effect, if everyone else follows the norm, if not, then the exception to the rule becomes the rule for everyone and the norms of behavior are not observed;
- generalization- a reasonable combination of imperative and utilitarian approaches, involves solving the problem of choice, answering the question: "What would happen if everyone acted the same way in the same circumstances?" If the results of actions are undesirable, then such actions are unethical and should not be carried out.
Allocate international, national and domestic codes of professional ethics for auditors.
International Code professional ethics adopted by the IFAC. It contains norms as a whole for all professional accountants and separately for independent professional accountants (auditors).
Code of Professional Ethics for Russian Auditors as a national one was approved by the Council for Auditing under the Ministry of Finance of Russia on August 28, 2003 by protocol No. 16 and agreed with the Coordinating Council of Russian professional associations auditors and accountants. It was prepared taking into account the requirements of the legislation of the Russian Federation on the basis of the recommendations of the IFAC Code of Ethics with the maximum preservation of its conceptual approaches and sections. This code establishes the rules of conduct for Russian auditors and defines the basic principles that must be observed by them in the exercise of their professional activities. Since 2001, accredited professional audit associations in Russia have been obliged to establish requirements for professional ethics and systematically monitor their observance. The code of ethics in force in a professional association belongs to the group internal codes. In accordance with the rules of succession, its norms should not contradict the national code and contain requirements below the national one.
Some Russian audit associations before entry into force federal law dated 07.08.2001 No. 119-FZ “On Auditing Activities”, they themselves developed and adopted an internal code of professional ethics for the auditor. In particular, such a code was approved in December 1996 by the Audit Chamber of Russia. It summarized the ethical standards of professional conduct of independent auditors, united by the Audit Chamber of Russia, on the basis of international ethical standards of the IFAC.
The presence of codes of ethics of different levels can lead to certain contradictions. The international code regarding this problem provides the following: if any provision of the national code of ethics contradicts the provision of the international code of ethics, then the national requirement must be met. When providing services in another state, one should be guided by the code of ethics, which defines more stringent (strict) requirements.
For non-compliance with the code of ethics is determined by a professional audit association.
Ethics of the auditor is a system of norms of moral behavior of the auditor.
The auditor in the provision of audit services is required to comply with the rules of ethics of conduct.
The Code contains the following standards of professional conduct:
1. Compliance with generally accepted moral norms and principles. Each auditor is obliged to be guided in behavior and relationships by moral standards accepted in society.
2. Compliance with the public interest. The independent auditor must, when performing professional duties take into account the interests of not only the client, but also other users of accounting (financial) statements. The auditor must be sure that the interests he defends in favor of the client do not contradict the law and public justice.
3. Objectivity. Auditors must be sure that there is no bias, dependent circumstances in the relationship with the client when drawing up an auditor's report. The auditor must remember that the basis of the conclusions and assessment of reliability financial statements economic entity can only be a sufficient amount of audit evidence.
4. Mindfulness. It is the responsibility of auditors to exercise maximum care in adhering to auditing standards and legislative norms in the process of planning the inspection and monitoring the work of assistants.
5. Independence. Independence of the auditor - the absence of any financial or property interest of the auditor in the audited firm; the auditor cannot check the firm, one of the owners of which he is; cannot participate in the audit if he is related to the top officials of the client. The auditor should not give any reason to doubt his independence and the objectivity of his opinion.
6. Professional competence. Auditors are obliged to provide a sufficient professional level of audit services, to guarantee conscientious and high-quality performance of the audit, timeliness and competence. The auditor is obliged to refuse recommendations on issues that are beyond his competence and qualifications. The auditor is obliged to constantly update his professional knowledge in the field of accounting, auditing, taxation, finance, civil law.
7. Privacy. The auditor is obliged to keep secret confidential information obtained in the course of professional services, without limitation in time. The auditor should not use information to the detriment of the interests of the client for his own benefit.
8. Actions incompatible with the profession. The auditor should not combine professional practice and other activities. The auditor's performance of two or more professional services at the same time cannot be considered incompatible activities.
9. Payment for audit services. Payment for professional services of an auditor depends on the complexity, quality, experience, responsibility and qualifications of the auditor, the scope of services. The amount of payment for the services of the auditor should not depend on the achievement of a particular result or be determined by other similar circumstances. The auditor has no right to receive payment for services in cash in excess of the established norms of calculations. The auditor is obliged to agree in advance with the client and fix in writing the terms of payment in the contract. Doubts about the observance of professional ethics are caused by the situation when the fee of one client is all or most of the annual revenue of the auditor.
10. Tax relations. Auditors are obliged to warn the client about the possible consequences in case of violation of tax obligations, provide recommendations and areas of taxation only in writing, comply with tax laws and avoid its violation in their own interests or in the interests of others. It is especially important to refrain from deliberate falsification, contributing to the evasion of the client from fulfilling tax obligations. On the facts of violation of tax legislation, errors in the calculation and payment of taxes revealed during the mandatory audit, the auditor must
form to inform the administration of the client.
11. Relations between auditors. Auditors are required to refrain from unreasonable criticism of other auditors and from knowingly acting to the detriment of the profession. The auditor should refrain from disloyal actions towards a colleague when replacing the auditor, assist in obtaining information about the client and the reasons for replacing the auditor. The auditor has the right in the interests of his client and with his consent to invite other auditors and specialists to provide services.
12. Relationships of employees with an audit firm. Employees of the audit organization are obliged to promote the credibility and further development firms, improve practices and improve the quality of services provided, take care of the level professional knowledge and competence. A certified auditor, who often changes auditing firms or suddenly leaves it and thereby causes some damage to the firm, violates professional ethics. Firm managers should refrain from discussing the work of subordinates with third parties. The auditor, for one reason or another, leaving the audit firm, is obliged in good faith and in full to transfer to the firm all the documentary and other documents he has. professional information.
13. Public information and advertising. Advertising of audit services should be informational, direct, not misleading interested users and not causing them distrust. The professional ethics of auditors is contrary to public information containing:
- client's confidential information;
- unreasonable laudatory self-promotion of the auditor (audit firm);
- false information misleading users;
- information aimed at putting pressure on tax and judicial authorities;
- information that guarantees the client in advance favorable results of the audit.
14. Auditing services in other states. Ethical norms are inviolable regardless of territorial and geographical differences in the provision of audit services. Compliance with international auditing standards and standards of the client's state serves as a guarantee for ensuring the quality of the auditor's services.
When providing audit services in another state, it is necessary to be guided by the following rules:
- if the ethical standards of professional conduct established in the state in which the auditor provides services are less stringent than those provided for by the Code of the Audit Chamber of Russia, it is necessary to be guided by the requirements of this Code;
- if the ethical standards of professional conduct established in the state in which the auditor provides services are more stringent than those provided for by the Code of the Audit Chamber of Russia, it is necessary to use the ethical standards adopted in this state;
- if the international ethical standards of professional behavior of auditors exceed the requirements of the Code of the Audit Chamber of Russia, the auditor must be guided by international standards.
Compliance with ethical standards of professional conduct is the responsibility of each employee of an audit firm or independent auditors.
Professional ethical principles:
1. priority of public interests - the principle that the auditor is obliged to act in the interests of all users of financial statements, and not just an economic entity;
2. objectivity - the principle of the audit, which provides for the use by the auditor of an unbiased, impartial approach in solving professional issues;
3. independence - the principle of audit, which consists in the absence of different interests of the auditor;
4. professional competence - the principle of audit, which provides for the presence of certain knowledge, with the help of which the auditor can professionally exercise his powers;
5. reliability - the principle of audit, which consists in providing the auditor with his professional credentials with a certain reliability and efficiency;
6. Confidentiality - the principle of audit, providing for the preservation of confidentiality of information without time limits.
Currently, the Audit Council under the Ministry of Finance of Russia is developing a unified Code of Professional Ethics for Auditors of Russia.
Basic concepts
Ethics of audit. Code of Ethics for the Auditor
Principles of Professional Conduct for American Auditors and Accountants
The code of ethics is not only the prerogative of accounting practice. All professionals, including doctors, lawyers and insurance agents and other professions, consider it necessary to promulgate codes of professional conduct and establish ways to enforce them. Such codes define the type of behavior the public is entitled to expect from professionals and thus build public confidence in the quality of the professional services provided.
The principles of professional conduct for American auditors and accountants are laid down in the Code of Professional Conduct. The preamble of the code emphasizes the responsibility of the professional towards society, clients and colleagues. The principles of the Code of Professional Conduct set a specific goal and express the general ideals to which auditors should strive. Let's look at these principles.
Responsibilities. In the performance of their professional duties, make accurate, balanced, professional, moral judgments in all types of their activities.
public interest. Commit to act in a manner that serves the public interest, lives up to public trust and demonstrates excellence.
Honesty. To maintain and strengthen public confidence and to carry out all professional duties with the utmost integrity.
objectivity and independence. To maintain objectivity and be free from clashes of various interests in the performance of their professional duties. In his practice, be independent both in substance and in form when performing audits and other control work.
Proper Influence. Comply with the technical and ethical standards of the profession, constantly strive to improve their knowledge and quality of work, and perform professional duties to the highest possible level.
Scope and nature of services. In its public practice, observe the principles of the Code of Professional Conduct in determining the scope and nature of the services provided.
One commonly used type of materiality check to establish the existence and, to a lesser extent, the accuracy of accounts receivable is the auditor's direct contact with customers, commonly referred to as confirmation. Before conducting materiality checks in other areas of the audit, the auditor should be reasonably satisfied that the trial balance of the accounts receivable reflects all trade deals which remain unpaid by the end of the year. If the results of the control checks indicate the completeness of the trial balance, the checks for the materiality of the completeness of accounts receivable will for the most part be limited to the analytical procedure.
Code of Ethics for Russian Auditors
Auditor ethics- a set of rules and requirements for the conduct of the auditor in the performance of professional duties.
The Code of Ethics for Russian Auditors was adopted by the Audit Council under the Ministry of Finance of Russia (Minutes No. 16 dated August 28, 2003).
The ethical requirements applicable to audits are established by the Code of Ethics for Auditors of Russia and include (Fig. 4.1):
- honesty and objectivity;
- professional conduct and due diligence;
- independence;
- professional competence;
- confidentiality.
Rice. 4.1.
Honesty and objectivity. Honesty means not only truthfulness, but also impartiality and reliability. In accordance with the principle of objectivity, all auditors must act fairly, honestly and without conflicts of interest. Comply with generally accepted moral norms and rules: live and work according to conscience.
When resolving ethical conflicts, the auditor must be guided by the public interests of all users of financial statements, protect the interests of the client that have arisen on legal and fair grounds.
Professional competence and due diligence. This principle suggests that it is necessary to carefully and objectively evaluate information, not to interpret it biased, to control subordinates.
Professional competence can be divided into two independent stages: achieving professional competence and maintaining it at the proper level.
For achievement of professional competence first you need to get a higher general education, followed by special education, training and examinations in major subjects, and then - practical work.
For maintaining professional competence at the proper level required:
- study regulations, in the process of providing services, be guided by the accepted rules (standards) of auditing, a standard program for checking compliance with licensing requirements and conditions, as well as established requirements to the quality of work;
- annually improve their qualifications in accordance with the programs adopted by the Audit Council under the Ministry of Finance of Russia.
Independence. Auditors are required to refuse to provide services if there are reasonable doubts about independence. Independence, among other things, includes a ban on the acquisition of property from a subject at non-market prices; friendly, personal relationships are also contrary to independence.
professional behaviour. You should refrain from providing services that go beyond the competence, do not correspond to the qualification certificate.
Confidentiality. The term is not limited. You can not use the information received for personal gain or to the detriment of the interests of the client.
The auditor must comply with tax laws and must not facilitate fraud in order to evade the client from paying taxes.
Payment for services should be appropriate to the volume, complexity and quality of services. The Auditor is not entitled to receive payment in cash in excess of the contractual amounts.
Relations between auditors should be friendly, informing the newly appointed auditor is required in writing.
The relations of employees of an audit firm should be business-like, friendly, it is necessary to help each other in improving professional skills.
The audit manager must Special attention compliance with ethical requirements by all members of the audit team during the entire audit. If the engagement partner becomes aware of ethical non-compliance by members of the audit team, the engagement partner should consult with the appropriate individuals within the firm's workforce and ensure that appropriate disciplinary action is taken against the non-compliance.
conclusions
- 1. The Code of Ethics defines the type of behavior that the public has the right to expect from professionals, and thus strengthens the public's confidence in the quality of the professional services provided.
- 2. The auditor in the performance of professional duties must comply with generally accepted moral norms and rules, be guided by the public interests of all users of financial statements, protect the interests of the client that have arisen on legal and fair grounds.
- 3. Law 307-FZ establishes the need for certification for the right to carry out audit activities and annual advanced training.
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The Code of Professional Ethics for Auditors establishes the standards of conduct for auditors, defines the fundamental principles that must be observed by them in the course of performing their professional functions. The need to regulate the ethical behavior of professional auditors arose in connection with the responsibility of its representatives to society.
Auditors have a responsibility to society, including to all who rely on their objectivity, honesty, independence, which contributes to the maintenance of the normal functioning of commercial activities. Professional ethics includes a set of norms that are of a framework nature, however, even if they exist, the problem of choice in a particular case remains with the professional. It defines moral moral values, which the audit community approves in its environment, ready to protect them from all possible violations and encroachments. Compliance with universal and professional ethical standards is an indispensable duty and the highest duty of every auditor, manager and employee of an audit firm. Characteristics of the order of observance of the basic norms of audit ethics are given in table 3.2.
Allocate international, national codes of professional ethics of auditors and codes of professional ethics of self-regulatory organizations.
The International Code of Professional Ethics has been adopted by the IFAC. It contains norms both in general for all professional accountants and separately for independent professional accountants (auditors).
Table 3.2.
Characteristics of the procedure for compliance with the basic standards of audit ethics
| Norm | Compliance procedure |
| Objectivity and attentiveness of the auditor | An objective basis for the conclusions, recommendations and conclusions of the auditor can only be a sufficient amount of required information. Auditors should not knowingly present facts inaccurately or biased. When providing any professional services, auditors are required to objectively consider all emerging situations and real facts, not to allow personal bias, prejudice or outside pressure to affect the objectivity of their judgments. |
| Auditor Independence | Auditors are required to refuse to provide professional services if there are reasonable doubts about their independence from the client organization and its officials in all respects. Auditors are required to provide a sufficient professional level of audit services required by the client. When accepting an obligation to provide certain professional services, the auditor must be confident in his competence in this area. The auditor is obliged to constantly update his professional knowledge in the field of accounting, taxation, financial activities and civil law, organization and methods of auditing, legislation, Russian and international norms and standards of accounting and auditing. |
| Confidential customer information | The auditor is obliged to keep confidential information about the affairs of clients obtained in the course of providing professional services, indefinitely and regardless of the continuation or termination of direct relations with them. The auditor should not use confidential information of the client, which became known to him in the performance of professional services, for his own benefit or for the benefit of any third party, and also to the detriment of the client's interests. |
| Tax relations | Auditors are required to strictly comply with the legislation on taxation in all aspects; they must not knowingly hide their income from taxation or otherwise violate tax laws for their own benefit or for the benefit of others. When providing professional tax services, the auditor is guided by the interests of the client. At the same time, he should not contribute to falsifications in order to evade the client from paying taxes and deceive tax service. The auditor is obliged to inform the administration of the client about the facts of violation of tax legislation, errors in calculations and payment of taxes revealed during the statutory audit and audit commission joint-stock company and warn them about the possible consequences and ways to correct violations and errors. |
| Professional service fee | An auditor's professional fee is ethical if it is paid based on the scope of services rendered. It may depend on the complexity of the services provided, qualifications, experience, professional authority and the degree of responsibility of the auditor. The amount of the auditor's professional fees should not depend on the achievement of any specific result or be conditioned by other circumstances. |
| Relationships between auditors | Auditors are obliged to treat other auditors kindly, refrain from unreasonable criticism of their activities and other conscious actions that cause damage to colleagues in the profession, assist the newly appointed auditor in obtaining information about the client and the reasons for replacing the auditor. The newly invited auditor, if such an invitation is not based on the results of a tender held by the client, before agreeing to the proposal, is obliged to request the previous auditor and make sure that there are no professional reasons for refusal. |
| Employee relations with the audit firm | Certified auditors who have agreed to become employees of an audit firm are obliged to be loyal to it, to contribute to the authority and further development of the firm with all their activities, to maintain business, friendly relations with managers and other employees of the firm, managers and staff of clients. The audit firm is obliged to develop methods of professional activity, to generalize regulations, to supply their employees with them, to constantly take care of improving their professional knowledge and qualities. Professionals who have moved to another audit firm are required to refrain from condemning or reinstating their former managers and colleagues, from discussing with anyone the organization and methods of work in the former firm. They must not disclose confidential information known to them and documents of the audit firm with which they have terminated their employment relationship. |
| Public information and advertising | Public information about auditors and advertising of audit services may be presented in the media, special editions auditors, in address and telephone directories, in public speeches and other publications of auditors, managers and employees of audit firms. |
| Auditor inconsistent actions | The auditor should not, simultaneously with the main professional practice, engage in activities that affect or may affect his objectivity and independence, respect for the priority of the public interest and are not compatible with the provision of professional audit services. |
| Audit services in other states | Regardless of where the auditor provides professional services, in his country or in another, the ethical standards of his behavior remain unchanged. To ensure the quality of professional services provided in other states, the auditor must know and apply in his work the international auditing standards and standards in force in the state in which he carries out professional activities. |
The Code of Professional Ethics of Auditors of Russia as a national one was approved by the Audit Council under the Ministry of Finance of Russia on August 28, 2003 by protocol No. 16 and agreed with the Coordinating Council of Russian professional associations of auditors and accountants. It was prepared taking into account the requirements of the legislation of the Russian Federation on the basis of the recommendations of the IFAC Code of Ethics with the maximum preservation of its conceptual approaches and sections. This code establishes the rules of conduct for Russian auditors and defines the basic principles that must be observed by them in the exercise of their professional activities. Also, each self-regulatory organization of auditors adopts a code of professional ethics for auditors approved by the audit council. The self-regulatory organization of auditors has the right to include in the code of professional ethics of auditors adopted by it Additional requirements. The code of ethics in force in the self-regulatory organization of auditors belongs to the group of internal codes. In accordance with the rules of succession, its norms should not contradict the national code and contain requirements below the national one. The responsibility of auditors for non-compliance with the code of ethics is determined self-regulatory organizations auditors
