Before talking about what is an audit of accounting for finished products, it is worth understanding the concept of audit.
On the territory of our country, an audit is a control over the economic activity of an enterprise. As market relations developed, accountants had to get acquainted with a variety of regulations and bills that governed all legal aspects of economic activity. They reflected such criteria for the operation of enterprises as accounting, reporting, taxation criteria, processes of forming the cost of a particular product, and so on.
Regulatory documents are supplemented by new provisions, undergo changes, and this happens quite often. Unfortunately, they are not always brought to the attention of taxpayers. That is why some violations are noted, mainly, of course, unintentional, in working with some regulatory documents.
Therefore, it is completely logical to create a form of control over the economic activity of the enterprise, and it is obliged to be carried out not by the state. It should be noted that this form of control should include consultations on all issues that relate to the organization and maintenance of accounting, financial statements, as well as methods to increase the efficiency of commercial activities.
It was this form that the audit of finished products became . It helps to significantly reduce the risks of individual entrepreneurs and enterprises.
If we talk about finished products, then it represents property that belongs to the sphere of material production, that is, to the stocks of the enterprise. They, of course, comply with all standards provided by law. Products are made for one purpose - sale and profit.
Audit of finished products implies the presence of a certain stock number, name, batch, variety or a homogeneous group.
The company independently chooses the unit of accounting for finished products. Naturally, it is fixed in the documents corresponding to the accounting policy.
All manufactured products are for sale at a warehouse. There its accounting is carried out, and the persons responsible for this process do it. It is possible to make an exception and not to audit the sale of products if it is large-sized, that is, it cannot be delivered to the warehouse for technical reasons.
Then the audit of the finished product is carried out directly at the place of production of the product, and the manufacturer does it.
What is the purpose of such a thorough inspection of products? The answer is obvious: it is necessary to objectively assess whether the products were fully produced, whether they were delivered to the warehouse in a timely manner, whether reliable documentation is reflected in all the documentation, and whether the accounting and reporting papers are correctly drawn up.
An audit of finished products also checks the volume of revenue received from the sale of products, the value of the cost of goods sold, the value of business expenses, as well as possible losses from sales.
All the results of such a check are issued as documents for analytical and synthetic accounting for the production and sale of a product.
It is also worth saying that the auditor’s opinion is a document that has legal status, that is, it is valid for both legal entities and individuals, government, administration and the judiciary.
The conclusion made by the auditor has the status of an expert opinion, which, as a rule, is appointed by the state.