Organizational principles of audit documentation formation

Rudnytskyy Wasyl
Doctor of Economics, Professor, Head of the Department of Accounting Technologies and Taxation, Ivan Franko National University of Lviv, Lviv, E-mail:vasyl.rudnytskyi@lnu.edu.ua, ORCID ID: https://orcid.org/0000-0001-9907-6088

Cite this article:

Rudnytskyy W. (2023) Organizational principles of audit documentation formation. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Orhanizatsiini zasady formuvannia audytorskoi dokumentatsii; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 7-8 (308-309), pp. 58-62.

Abstract

The purpose of the article is to study the organizational foundations of the formation of audit documentation. The formation of audit documentation was always a significant issue for the subject of audit activity during the audit. The audit documentation is the evidence base for the audit. However, such an evidence base must meet the requirements of international auditing standards and the national legislation of Ukraine. Subjects of audit activity do not have clear requirements for the formation of audit documentation, only general requirements for it. Therefore, on the basis of international standards, each auditor creates audit documentation that are acceptable and convenient for him. However, such formation should have organizational principles for each subject of audit activity. Incorrect organization or its absence leads to failure of quality control. The requirements for the formation of audit documentation in accordance with international audit standards and the national legislation of Ukraine were studied. The essence of the concept of audit documentation is analyzed. The objectives of the formation of audit documentation are defined. The organizational principles of the formation of audit documentation in Ukraine have been studied. Audit documentation must be clear, formed at all stages of the audit, and also meet the requirements of international standards and national legislation. Audit documentation is formed at all stages of the audit and is interconnected. Based on the results of the research, it was concluded that each subject of audit activity creates working documents according to its own methodology and classifying them according to different categories and indexing. In the modern world, the formation of audit documentation is carried out with the help of electronic data processing. This allows you to optimize the auditor's resources and store the auditor's working documents in both paper and electronic format. Based on the results of the study, it was concluded that the formation of audit documentation is influenced by internal and external factors that should be taken into account by the subject of audit activity when forming audit documentation.

Keywords

audit, audit documentation, auditor's conclusions, reporting, ISA.

JEL classification: M410; DOI: 10.32680/2409-9260-2023-7-8-308-309-58-62

UD classification: 657.6

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