Revision is ... Basic concepts

Practically for each institution, such a concept as audit is familiar. And for trading and manufacturing enterprises this is one of the components of successful work. The audit is the verification and control of the organization's activities, its economic activities, the legality of the employees' actions in the field of financial operations of the institution.

The audit performs many important control tasks for the organization. It:

• Verification and detection of violations in the field of property security;

• Checking the quality of execution of their duties by the security system;

• Checking the quality of the performance of their job responsibilities of the materially responsible staff of employees in relation to the property of the organization;

• Check and identify violations in the distribution and use of funds allocated from the budget.

Revision is a series of actions that can be conditionally divided into two main areas. The first will be control over financial and economic activities. The second direction is the control over the legal documentary validity of such actions. And both these directions are closely related to each other.

The audit is the activity of authorized persons, organized by the company itself for internal control and detection of dishonest employees. In this case, the auditor is selected by the company's management. Most often for this purpose the organization uses the services of special firms that are engaged in auditing. But it is also possible to keep an employee in his / her staff as an auditor.

The audit is an event that can be initiated by state bodies in accordance with the current legislation to monitor the legality of the enterprise. In this case, the relevant state body appoints a control and auditing commission.

The audit of funds allocated from the budget is carried out at the end of the fiscal year. But the control of the budget is carried out in three stages - at drawing up, during its execution and by results of work with the allocated means.

In order for the audit to be successful, you must follow certain rules when conducting it:

• First, the "unpredictability" of verification. For the purity of organized control, audit participants should not know in advance about the date of the beginning of its conduct.

• Second, the periodicity. It should be carried out for a certain period. Each organization independently decides how many times it is necessary to conduct an audit. In the case of state control, there are regulated terms and periods of the audit.

• It is important to remember the confidentiality of this event. The audit participants should keep secret the results of its conduct.

This kind of control often requires the suspension of the financial activities of the organization, but there are cases when the work at the time of the proceedings does not stop. For example, an audit in a small format store can be carried out after it is closed or even during operation. In the case of a large turnover, the work of the enterprise must be suspended for the duration of such a check.