Assessment of Risks Related to the Accounting and Audit of Property, Plant and Equipment in Accordance with International Standards
Year: 2024
Type: article
Abstract: This article examines the risks associated with accounting and auditing of property, plant and equipment in accordance with international standards. International accounting and financial reporting standards that regulate various issues related to the accounting of property, plant and equipment of enterprises are considered. International standards on auditing that establish requirements for assessing the risks of material misstatement and selecting further audit procedures in response to the assessed risks are considered. The risks associated with the accounting of property, plant and equipment in accordance with international standards are investigated and grouped. The key components of the system of internal control over property, plant and equipment are identified. Audit procedures for risk assessment are considered to provide a basis for identifying and assessing the risk of material misstatement of property, plant and equipment. Aspects of the audit of property, plant and equipment, including the assessment of risks of material misstatement and the development of control tests, are investigated. Documentation of the results of the assessed risks of material misstatement of property, plant and equipment is considered.
Source: Экономика: реалии времени
Author: Natalіа Selivanova
Institution: Odesа Polytechnic National University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4408084853