Audit of the Continuity of Enterprise Activity

Анотація

In the conditions of the economic crisis, there is more and more growth in the need for reliable information about the prospects for the enterprise development for making economic decisions. The audit of the continuity of enterprise activity allows to improve the quality of information contained in the financial statements, as well as to provide all stakeholders with information resource, which contains an independent professional judgment of the auditor on the activities of the entity on a continuous basis. The purpose of the article is to reveal the essence of the going concern principle in accounting and audit and to substantiate practical tools for conducting an audit of the continuity of enterprise activity. The theoretical provisions on the definition of going concern principle and going concern assumption were disclosed. Analytical procedures used in the audit of the continuity of enterprise activity were characterized. The analytical procedures given in the study can be used at all stages of the audit of financial statements. The methods of carrying out express-diagnostics under the hour of finding out the factors of influence on the continuity of the enterprise activity was presented. The content of the test questionnaire for assessing the continuity of the enterprise activity was proposed. Criteria for assessing indicators depending on their actual level were substantiated to determine the possibility of continuous operation of an enterprise. Using the rating of indicators of the financial condition, the auditor will be able to determine the class of the enterprise and, accordingly, the risk of bankruptcy and the relationship of interested users with this enterprise. The influence of the assessing result of adhere to the going concern principle on the auditor's opinion was revealed.

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