Audit of accounting (financial) statements of a small enterprise: assessment of the control environment

Authors

Filobokova L.Yu.

Abstract

The article presents informal methodological approaches to studying the control environment of a small enterprise, which is an integral part of the internal control system studied by the auditor for the purpose of identifying and assessing the risk of material misstatement, both due to fraud and due to errors at the level of financial statements and at the level of assumptions. Distinctive features of the organization, conducting accounting, the formation of accounting (financial) statements of a small enterprise, the limited information array available to the auditor to collect audit evidence does not allow the use of traditional approaches and requires the development and justification of alternative options, one of which was developed and substantiated by the author.

Keywords

control environment, internal control system, audit of accounting (financial) statements of a small enterprise.