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Arzumanyan S. Yu., Candidate of Economic Sciences, Associate Professor
of the Department of Finance and Credit PRUE named after G. V. Plekhanov, Tashkent branch,
Tashkent city, Uzbekistan.
THEORETICAL FOUNDATIONS OF THE PREPARATION AND ORGANIZATION OF THE AUDIT OF THE FINANCIAL REPORT IN
JOINT-STOCK COMPANIES
Abstract. The article considers the issues of the theoretical foundations of the preparation and organization of the audit of the financial report in joint-stock companies, in which the essence of the financial report and the importance and necessity of its preparation based on the requirements of international standards, approaches to the organization of the audit of the financial report are researched.
Keywords: accounting, income, contract, revenue, inventory, variable remuneration, fixed amount, efficiency of use, improving accounting.
In the Republic of Uzbekistan, special attention is being paid to the development of the activities of joint-stock companies, the introduction of principles of corporate management in them, the organization of accounting and auditing based on the requirements of international standards. Including "organizing active methodological support of auditing organizations and auditors in the application of international standards of auditing" [Decision No. PQ-3946 of the President of the Republic of Uzbekistan dated September 9, 2018 "On measures to develop auditing activities in the Republic of Uzbekistan". www.lex.uz ] task determination requires conducting the financial statement audit on the basis of international standards. These tasks determine the importance of organizing financial reporting and auditing based on international standards and improving its methodological foundations.
Theoretical foundations of the preparation and organization of the audit of the financial report in joint-stock companies, in which the essence of the financial report and the importance and necessity of its preparation based on the requirements of international standards, approaches to the organization of the audit of the financial report are researched.
Joint-stock companies play an important role in the development of the country's economy. These types of entities operate on the basis of shares contributed by shareholders, and their main task is to protect the interests of the founders. Joint-stock companies have certain priorities compared to other types of entities in solving problematic issues such as proper organization of economic activity and management of complex economic processes.
The financial report of joint-stock companies is an important element of accounting, the final order of the entire accounting process, and consists of summarizing accounting information about the property and financial situation
and financial results compiled according to the forms established for a certain period, usually for the reporting period.
The content of the financial report has been thoroughly interpreted by regulatory legal documents and economists.
According to Article 22 of the Law of the Republic of Uzbekistan "On Accounting", "Financial reporting consists of systematized information on the financial status of the accounting entity as of the reporting date, the financial result of its activities during the reporting period, and the movement of funds"
According to BHMS No. 1 "Accounting policy and financial reporting", "Financial reporting is a method of presenting financial information describing the activity of this economic entity in a certain period, regardless of whether the economic entity is a separate independent economic entity or a consolidated group of economic entities"
According to the "Conceptual framework for preparation and presentation of financial statements", "The purpose of financial statements is to provide information on the financial status of the accounting entity as of the reporting date, the financial results of its activities during the reporting period, and the movement of funds. However, the financial report does not contain all the information necessary for users to make economic decisions, because the report mainly reflects the results of previous events"
According to ISA No. 1 "Presentation of Financial Statements", "a financial statement is a report designed to meet the needs of all users, not intended to meet specific information needs".
B. A. Khasanov, A.A. Khashimov, A.B. Mukhametov, A.A. Abduvokhidov stated that "the financial report consists of systematic information about the financial status of the accounting entity as of the reporting date, the financial result of the reporting period and the movement of funds.
C. The main purpose of all the mentioned points is to confirm the reliability of the financial report. In order to achieve this goal, it is necessary to carefully plan the audit of financial statements by auditing organizations, to collect sufficient and appropriate evidence.
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