Основные средства являются важнейшей частью assets of any company. It is with the use of fixed assets that the main production activity of any company is connected, because the OS is the basis of the production process. In order to prevent any violations in the accounting of the OS, an audit of operations with fixed assets is conducted.
What does this type of auditverification? Audit of operations with fixed assets includes the verification of all documents that are purchased by the enterprise, are in use, on which depreciation charges are accrued, and also sold after the end of their life at a value called residual.
In order to audit the operations with fixed assets, it is necessary to verify the fulfillment of the following criteria:
1.The existence of objects of the OS, for which verification is carried out - for this it is necessary to inventory those objects of the OS that are subject to verification. In fact, the inventory is a personal audit by the auditor of the presence of all OS objects displayed in documents. If any OS objects do not really exist, or they are not in the state in which they are described, the auditor should make appropriate notes in the working papers and present them in the conclusion.
2.Ownership of OS facilities in the enterprise - at this stage, the auditor must determine whether the OS objects are owned by the firm and whether it has the right to fully dispose of them. As a rule, this happens due to the verification of payment for purchased objects of the OS, so after checking the OS it often becomes necessary to audit the operations with cash.
3. Evaluation.To ensure that the OS check is complete and its results show a complete picture of the state of the enterprise, it is necessary to find out whether all objects of the OS are correctly evaluated. In addition to estimating the primary value of the OS objects and determining their liquidation value, which will be the sale price of the OS objects after the end of use, this item includes depreciation, or, as it is called, depreciation, which is a regular deduction for a special reserve created for That there was an opportunity subsequently to get new OS instead of already fulfilled the.
Since the cost of the OS is, as a rule,the largest part of the assets of the enterprise, this means that it is through the OS that the bulk of the company's assets is formed, and hence its value. The value of a firm is reflected in the value of its shares. That is why it is necessary to understand that the identified inconsistencies in the OS may entail the need to audit the operations with securities
In general, checking the state of operations with the OSis an important moment in the life of any enterprise, since it gives the management the opportunity to imagine a holistic picture of what is happening with the OS. Audit of operations with fixed assets is one of the most important tools for maintaining a stable financial condition of the company, since it does not give it the opportunity to get in trouble due to incorrect evaluation and depreciation on the OS. This audit is not carried out as often as other types of audit. But in order to maintain the state of the enterprise at the optimum point, it is recommended to audit the operations with fixed assets at least every three years.
We hope that reading this article will helpyoung accountants and auditors to deal with such a difficult issue as checking the status of operations with the OS in the enterprise, and company executives will convince themselves of the need for regular checking of this type.
