The audit report for 2016 was drawn up on November 27, 2017. We must submit it to statistics 1-B. no later than 10 working days after November 27, 2017. and 2nd no later than December 31, 2017. Question: So we choose the deadline at our own discretion or are there any nuances?
Your personal expert answers
The audit report is submitted to the Rosstat authorities either together with the financial statements, or no later than 10 business days from the day following the date of the audit report, but in any case no later than December 31 of the year following the reporting year. This follows from the provisions.
Annual reports are submitted to Rosstat no later than three months after the end of the reporting period, that is, before March 31, 2017. Since the audit report regarding your organization was drawn up after March 31, 2017, you are obliged to submit it to the Rosstat authorities no later than 10 working days after November 27, 2017, that is, no later than December 11, 2017.
The date December 31st is the deadline for submitting the audit report for those organizations for which the period of 10 working days from the date of drawing up the audit report expires after December 31st.
For untimely submission of an audit report to the statistical authorities, an official of the organization faces a fine of 300 to 500 rubles, and the organization itself can be fined in the amount of 3,000 to 5,000 rubles.
Rationale
In what cases is an organization required to conduct an audit?
Submission of the audit report to Rosstat and the tax inspectorate
When to submit an audit report to Rosstat
If an organization is required to conduct an audit, then it must submit an audit report along with financial statements to the territorial division of Rosstat. You need to do this:
or simultaneously with the submission of financial statements;
or separately no later than 10 working days from the day following the date of the auditor's report, in any case no later than December 31 of the year following the reporting one.
How to submit an audit report to Rosstat
Submit your audit report to Rosstat on paper or send it by email. Please agree on the last option with the employees of your territorial Rosstat office.
It will not be possible to send the document electronically along with. Rosstat will not accept the document.
If you do not submit your audit report to Rosstat on time, you will receive a warning or a fine:
– for organizations – from 3000 to 5000 rubles;
– for an official (manager) – from 300 to 500 rubles.
Such sanctions are provided for in the Code of the Russian Federation on Administrative Offences.
2. Federal Law of December 6, 2011 No. 402-FZ On Accounting
“Article 18. Mandatory copy of accounting (financial) statements
1. Economic entities obligated to prepare accounting (financial) statements, with the exception of public sector organizations and the Central Bank of the Russian Federation, submit one legal copy of the annual accounting (financial) statements to the state statistics body at the place of state registration.
2. A mandatory copy of the prepared annual accounting (financial) statements is submitted no later than three months after the end of the reporting period. When submitting a legal copy of the compiled annual accounting (financial) statements, which are subject to mandatory audit, the auditor's report on it is presented together with such statements or no later than 10 business days from the day following the date of the auditor's report, but no later than December 31 of the year following reporting year.
3. Legal copies of accounting (financial) statements together with audit reports constitute a state information resource. Interested parties are provided with access to the specified state information resource, except for cases where, in the interests of maintaining state secrets, such access should be limited.
4. The procedure for submitting a legal copy of accounting (financial) statements together with the auditor’s report, as well as the rules for using (including fees for use, unless otherwise provided for by other federal laws) of the state information resource provided for, are approved by the federal executive body exercising the functions of developing state policy and legal regulation in the field of state statistical activities.”
We are publishing another question that came to us through the feedback form from one of the pages of our website.
From: Yakov Nikolaevich
Topic: Is it necessary to submit the mandatory audit report of a joint stock company for 2014 to Rosstat and the Federal Tax Service?
Question:
We learned that starting with the annual reporting for 2014, joint stock companies, and in our case ZAO, must receive a mandatory audit report, and then submit it to the statistics office and the tax office.
Clarify please:
- Deadline for submitting annual reports and audit reports to state statistics bodies?
- Deadline for submitting the audit report to the tax authorities at the place of tax registration?
Answer:
On June 6, 2014, a new “Procedure for the submission of legal deposit of accounting (financial) statements” approved by the Federal State Statistics Service (Rosstat) came into effect, which determines the deadlines for joint-stock companies to submit annual financial statements and audit reports to the statistical authorities.
If the organization's annual accounting (financial) statements are subject to mandatory audit, it is necessary to submit one copy of the annual accounting statements and a copy of the auditor's report to the state statistics body at the place of registration of the enterprise (Part 2 of Article 18 of Law No. 402-FZ).
“The procedure for submitting a legal copy of accounting (financial) statements” must be followed by:
- commercial and non-profit organizations;
- state bodies, local government bodies, management bodies of state extra-budgetary funds and territorial state extra-budgetary funds;
- individual entrepreneurs, as well as lawyers who have established law offices, notaries and other persons engaged in private practice (hereinafter referred to as persons engaged in private practice);
- branches, representative offices and other structural subdivisions of organizations established in accordance with the legislation of foreign states located on the territory of the Russian Federation, international organizations, their branches and representative offices located on the territory of the Russian Federation, unless otherwise provided by international treaties of the Russian Federation.
Which organizations are required to conduct statutory audits?
From September 1, 2014, the Civil Code norm on mandatory external audit of any joint stock company JSC (public and non-public), previously also called CJSC and OJSC, comes into force.
If there is information classified as a state secret in the reporting and audit report, then they must also be presented taking into account the requirements of the Law of the Russian Federation of July 21, 1993 N 5485-1 “On State Secrets”.
Composition of a set of annual accounting (financial) statements?
The mandatory copy of the annual financial statements submitted includes a balance sheet, a statement of financial results and appendices thereto. For a non-profit organization, annual financial statements must consist of a balance sheet, a report on the intended use of funds and an appendix to them.
In the report forms, be sure to indicate a contact telephone number and email address so that a Rosstat representative can quickly contact you.
Not all limited liability companies are required to conduct annual reporting audits. In the table we have provided a complete list of organizations that must conduct audits in 2020 and the general criteria for mandatory audits for LLCs.
The criteria that oblige companies to conduct audits are established by the Federal Law of August 30, 2008 No. 307-FZ “On Auditing Activities”. If, based on the results of 2019, at least one of these criteria is met, an audit for the LLC in 2020 is mandatory.
Criteria for mandatory audit for LLCs in 2020
The law does not provide for specific requirements specifically for the audit of an LLC. It is necessary to take into account the general criteria (clause 1 of Article 5 No. 307-FZ). The total and organizational and legal criteria for a mandatory audit in 2020 for an LLC are as follows:
- Amount of revenue for the year preceding the reporting year > 400 million rubles. ;
- The amount of assets on the balance sheet at the end of the year preceding the reporting year > 60 million rub. ;
- LLC securities are admitted to organized trading;
- The organization is a credit/insurance/clearing company, a credit history bureau, a professional participant in the securities market, a mutual insurance company, a trade organizer, a non-state pension fund, an AIF, a management company of an AIF, a mutual investment fund or a non-state pension fund (with the exception of extra-budgetary funds);
- An entity files or publishes consolidated financial statements.
If an organization in the LLC form meets at least one of these criteria, a mandatory audit of its financial statements is required.
Tax officials will begin to communicate via SMS messages and will be less likely to issue demands for debt payment. However, inspection visits will become more frequent if the company has accumulated an impressive amount of arrears.
Important: officials plan to change the audit criteria in 2020 (bill No. 273179-7). They propose to increase the volume of revenue to 600 million rubles, and the amount of assets on the balance sheet to 200 million rubles. They also want to introduce a criterion for the number of employees - no more than 100 people for each of the two consecutive years preceding the reporting year.
When deciding to conduct an audit of financial statements, the company must not only take into account the requirements listed above, but also the laws governing the field of activity. Despite the fact that the criteria for mandatory audit are set out in a separate article of the law (we listed them above), the last subparagraph of paragraph 1 of Art. 5 of Law No. 307-FZ indicates the presence of additional criteria established by individual laws (see table).
Which LLCs are required to conduct an audit in 2020
| Who is required to conduct the audit? | Law |
|---|---|
| State and municipal unitary enterprises (in cases determined by the owner) | Art. 26 of the Federal Law of November 14, 2002 No. 161-FZ |
| NPO (in cases specified by law) | Art. 32 of the Federal Law of January 12, 1996 No. 7-FZ, art. 6-7 of the Federal Law of December 30, 2006 No. 275-FZ |
| Credit consumer cooperatives | Art. 28, 31 of the Federal Law of July 18, 2009 No. 190-FZ |
| Gambling organizers | Art. 6 of the Federal Law of December 29, 2006 No. 244-FZ |
Please also note that Federal Law No. 14-FZ of 02/08/98 on LLCs does not contain criteria for when a mandatory audit is required. It states that the general meeting of company participants can decide on an audit, as well as stipulate the obligation to conduct an audit in the charter. This is already an LLC initiative.
Audit and changes to PBU 1/2008
The Ministry of Finance, by letter dated January 19, 2018 No. 07-04-09/2694, published Recommendations to auditors. From Section II of the document it follows that auditors will not make comments if the company did not rewrite the accounting policies due to amendments to PBU 1/2008.
From August 6, 2017, companies must make new accounting choices. The rules have changed for cases where there are no methods in the standard. Then you need to develop them yourself. In this case, you need to take into account sequentially:
- IFRS;
- federal and (or) industry standards on similar issues;
- accounting recommendations.
First of all, you should adhere to international rules if there are no methods in domestic standards. For example, in a leasing situation, you need to take as a basis the rules that are prescribed in IFRS (Appendix 1 to Order of the Ministry of Finance dated June 11, 2016 No. 111n).
According to the department, companies should have previously developed their methods taking into account international standards. Therefore, the updated PBU 1/2008 did not add the obligation to read international standards. She was there before.
Changes to the rules for drawing up accounting policies came into force on August 6, 2017. At the same time, no special deadlines were prescribed for the application of the new edition of PBU 1/2008. In this case, the accounting policy must be adjusted. And changes in accounting methods should be reflected retrospectively (clauses 14, 15 of PBU 1/2008).
In 2020, it is necessary to keep track of income tax calculations in a new way. The newspaper "Accounting. Taxes. Law" figured out the essence of the amendments to PBU 18/02 and offered accountants practical recommendations for their work.
Many companies still use methods from old instructions from industry departments and ministries. There is a risk that checking using the new algorithm will show that the methods cannot be used. Then you need to choose correctly and recalculate the whole year.
The Ministry of Finance recommended that auditors not consider it a violation if the company did not change the accounting methods that it had adopted before Order No. 69n dated April 28, 2017 came into force. Those methods that companies developed according to the rules before the adjustments to PBU 1/2008 do not need to be canceled.
The Ministry of Finance considers it a rare situation when domestic methods contradict international ones. Auditors should not consider it a violation that the company had its own methods adopted before August 2017.
It is possible that auditors will decide that there is no need to check accounting methods in the policy at all if they are not written down in federal standards.
An audit is an independent verification of an organization’s financial statements. In this article we will tell you when to conduct such an audit and which companies are subject to audit. We will also figure out where to submit the audit report and what will happen for ignoring this obligation.
The legislation does not have clear deadlines for when to conduct a mandatory audit of financial statements. Since the statements are annual, it is logical to check them after the end of the year and before the balance sheet and other forms are approved by the owners of the company. This happens at the next annual meeting of participants (shareholders). Thus, LLCs hold such an event in March-April of the year following the expired reporting period. JSCs hold meetings of shareholders from March to June (Article 34 of the Law dated 02/08/1998 No. 14-FZ, paragraph 1 of Article 47 of the Law dated 12/26/2014 No. 208-FZ).
In this case, the accounting reports must be submitted to the Federal Tax Service and the statistics department no later than three months after the end of the year. That is, for 2015, reports should have been submitted to these departments by March 31, 2016 inclusive (subclause 5. clause 1 of article 23 of the Tax Code, article 18 of the Law of December 6, 2011 No. 402-FZ). Moreover, it was possible to submit reports that were not approved by the owners of the organization. The main thing is to meet the deadline.
When is it necessary to conduct an audit and who does it?
Let's figure out which organizations are subject to mandatory audit. In particular, it should be carried out by any joint stock companies (both public and non-public), insurance companies, non-state pension funds and credit organizations.
An audit is also required if a company publishes consolidated accounting (financial) statements (except for a state extra-budgetary fund). The same applies to companies with revenue for the previous reporting year exceeding 400 million rubles. It is also mandatory to conduct an audit for organizations whose balance sheet assets at the end of the previous reporting year exceed 60 million rubles.
note
State unitary enterprises, municipal unitary enterprises, state corporations and companies can enter into contracts for auditing only based on the results of placing an order for the provision of these services at auction in the form of an open competition (Part 4 of Article 5 of the Federal Law of December 30, 2008 No. 307-FZ).
A complete list of cases of mandatory audit in Part 1 of Article 5 of the Law of December 30, 2008 No. 307-FZ. It makes sense to additionally look at the summary table of the Ministry of Finance of Russia (posted on the official website of the department) with a complete list of cases of mandatory audit of accounting records for 2015. In addition, the table indicates: the type of audited statements and possible auditors.
Who can conduct a statutory audit? Both audit organizations and individual auditors have the right to do this (Part 2, Article 1, Articles 3, 4 of the Federal Law of December 30, 2008 No. 307-FZ).
However, in some cases, a statutory audit can be entrusted exclusively to an audit company. For example, this is relevant for organizations whose securities are admitted to organized trading and (or) other organizers of trading on the securities market. A similar requirement applies to banks, insurance companies, state corporations and firms with a government share of at least 25 percent. This is provided for by Part 3 of Article 5 of Federal Law No. 307-FZ of December 30, 2008.
When choosing an auditor, make sure that he is a member of a self-regulatory organization of auditors. To do this, ask the potential auditor for documents on membership in the SRO. It would also be useful to look at the website of the Ministry of Finance of Russia - information on whether there are audit organizations and individual auditors in SROs is given in the “Audit Activities” section.
One more thing. The auditor must be independent of your company. In particular, if the auditor restored the accounting, he does not have the right to check the statements. A complete list of prohibitions on conducting an audit is given in Part 1 of Article 8 of Federal Law No. 307-FZ of December 30, 2008.
By the way, if financial statements subject to mandatory audit are published, the auditor’s report will also have to be published along with it. This rule is enshrined in Part 10 of Article 13 of the Federal Law of December 6, 2011 No. 402-FZ.
Principles of auditing and reporting
The basic principles of audit are established by the Rules (approved by Decree of the Government of the Russian Federation dated September 23, 2002 No. 696). Also, the audit principles are set out in FSAD standards 1/2010, 2/2010 and 3/2010, approved by order of the Ministry of Finance of Russia dated May 20, 2010 No. 46n. These documents are mandatory for all auditors (clause 3, part 1, article 7 of Law No. 307-FZ of December 30, 2008). Also, when checking statements, auditors are guided by the recommendations of the Russian Ministry of Finance.
Now about the auditor's report. This is an official document that details the results of the audit. The conclusion is intended for users of financial statements (Part 1, Article 6 of Law No. 307-FZ dated December 30, 2008).
In conclusion, the auditor assesses the reliability of the reporting indicators. The document may express an unmodified or modified opinion on the reliability of accounting records (clause 14 of FSAD 1/2010).
note
If the financial statements of an organization are subject to mandatory audit, it is obliged to organize and conduct internal control of accounting and preparation of financial statements (Part 2 of Article 19 of the Federal Law of December 6, 2011 No. 402-FZ).
If the auditor found the statements to be reliable (that is, the balance sheet, financial statement and other forms reflect the true position of the company), he expresses an unmodified opinion.
The auditor expresses a modified opinion if, based on the audit evidence obtained, it is determined that the financial statements contain material misstatements. A similar result will occur when the auditor is unable to obtain sufficient evidence that the financial statements, taken as a whole, are free of material misstatement.
Moreover, the modified opinion is divided into three categories. Let's consider them in order of tightening, so to speak.
Option No. 1. Opinion with a reservation
Such an opinion will be obtained if there is sufficient evidence that the effect of the misstatements, individually or in the aggregate, is material. But this does not affect most significant reporting elements.
The auditor will also issue a qualified opinion if he does not have the opportunity to obtain sufficient audit evidence on which to base his opinion. In this case, the auditor may conclude that the impact of undetected misstatements is significant, but does not affect most of the significant elements of the accounting (financial) statements.
Option No. 2. Refusal to express an opinion
The auditor should refuse to express an opinion unless he is able to obtain sufficient evidence on which to base his opinion. At the same time, the auditor believes that the impact of undetected misstatements is significant and affects most of the significant elements of the statements.
Option number 3. Negative opinion
The auditor must express an adverse opinion when sufficient evidence is obtained that the detected misstatements could materially affect the accounting (financial) statements and most of their significant elements.
All this is provided for in paragraphs 1, 13, 15, 16 of FSAD 1/2010.
Based on the results of the audit, errors and violations of the law may be identified. Before drawing up an audit report, auditors must inform the organization's management about this. Auditors describe the reason for violations in accounting and reporting in a document drawn up in a free form (for example, in the form of a report). After studying this document, employees of the audited organization must correct errors. If the audited company refuses to correct the violations, the auditors will not be able to express an unmodified opinion in their report.
Where to submit the audit report
Firms subject to mandatory audit must submit an audit report along with financial statements to the territorial division of Rosstat. There are two ways to do this. First, submit the document simultaneously with the financial statements. Secondly, submit the document separately, but no later than 10 business days from the day following the date of the audit report. Of course, this date may be earlier than March 31 (accounting deadline). Therefore, legislators have prescribed the deadline for submitting an audit report - no later than December 31 of the year following the reporting year. These are the requirements of Part 2 of Article 18 of the Federal Law of December 6, 2011 No. 402-FZ.
note
Organizations that are subject to mandatory audit do not have the right to use simplified forms of accounting and reporting (Part 5, Article 16 of Federal Law No. 402-FZ of December 6, 2011).
Be careful - if you ignore the obligation to submit an audit report to Rosstat (as well as submit it late), you will be subject to an administrative fine under Article 19.7 of the Code of Administrative Offenses of the Russian Federation. Namely, the head of the company as an official will be fined in the amount of 300 to 500 rubles, and the organization itself will be fined in the amount of 3,000 to 5,000 rubles. Rosstat warns about this in a letter dated February 16, 2016 No. 13-13-2/28-SMI.
But there is no need to submit an audit report to the tax office. After all, this document is not part of the financial statements required to be submitted to the inspectorate (letter from the Ministry of Finance of Russia dated January 30, 2013 No. 03-02-07/1/1724 and the Federal Tax Service of Russia for Moscow dated March 31, 2014 No. 13-11/030545 ).
Is a voluntary audit possible?
In addition to mandatory audits, there are also voluntary audits. It is carried out by decision of the owners or management of the organization. Such a check can take place, for example, when the owners (manager) need information about the state of accounting when changing the chief accountant or when receiving a bank loan.
Let's figure out whether one of the founders (participants, shareholders) can initiate an audit of the organization.
The organizational and legal form of the company is important. In an LLC, the decision to conduct an audit, select an auditor and determine the amount of payment for his services is made by the general meeting of participants (subclause 10, clause 2, article 33 of Law No. 14-FZ of 02/08/1998). In this case, an individual participant has the right to initiate an audit if he is ready to pay for audit services at his own expense (Part 2 of Article 48 of Law No. 14-FZ dated 02/08/1998). In this situation, a decision of the general meeting is not necessary (subclause 10, clause 2, article 33, clause 2, article 48 of the Federal Law No. 14-FZ dated 02/08/1998, resolution of the Supreme Arbitration Court of the Russian Federation dated 05/13/2008 No. 17869/07).
In joint stock companies the situation is slightly different. The auditor is selected by the general meeting of shareholders, and the amount of payment is determined by the board of directors or supervisory board. An individual shareholder may request an audit if he owns 10 percent or more of the voting shares (clause 2 of Article 86, clause 3 of Article 85 of the Federal Law of December 26, 1995 No. 208-FZ).
How to account for audit costs
In accounting, reflect the organization's costs for conducting an external audit as part of expenses for ordinary activities (clause 5 of PBU 10/99).
As a general rule, expenses for an external audit are recognized in the reporting period in which they were incurred (i.e. on the day of signing the act of provision of services), regardless of the fact of payment (clause 18 of PBU 10/99).
An exception is that a small enterprise conducts accounting using the cash method. In this case, both revenue and all expenses (including audit services) are recognized as they are paid.
The wiring is like this:
DEBIT 26 (44) CREDIT 60 (76)
– expenses for audit services are reflected.
If the audit organization (individual auditor) is a VAT payer, reflect the input VAT by posting:
DEBIT 19 CREDIT 60 (76)
– the submitted VAT is taken into account.
If an organization compensates its founder for the costs of an audit, reflect these calculations in a separate subaccount of account 75 (for example, 75-3 “Settlements with founders for other transactions”). Depending on the source of financing these costs, make the following entry in accounting:
DEBIT 84 (26, 44) CREDIT 75-3
– expenses related to the payment to the founder of compensation for the costs of paying for the auditor’s services from the retained earnings of previous years (expenses for ordinary activities) are reflected.
When calculating income tax, include expenses for audit services as part of other expenses (subclause 17, clause 1, article 264 of the Tax Code of the Russian Federation). This applies to both mandatory and voluntary audits.
If the organization uses the cash method, then include audit costs as expenses only after they have actually been paid (clause 3 of Article 273 of the Tax Code of the Russian Federation).
In tax accounting, audit expenses are indirect expenses (Clause 1, Article 318 of the Tax Code of the Russian Federation). If the organization uses the accrual method, then include the costs of audit services as expenses on one of the following days:
- on the day established for payment of audit services in accordance with the terms of the contract;
- on the last day of the reporting (tax) period;
- on the date of presentation of the act of provision of services.
This is stated in subparagraph 3 of paragraph 7 of Article 272 of the Tax Code of the Russian Federation.
Simplified companies with the object “income minus expenses” can also take into account audit costs according to the general rules. That is, services must be provided and paid for (subclause 15, clause 1, article 346.16, clause 2, article 346.17 of the Tax Code of the Russian Federation).
Tax consultantTamara Petrukhina
If a company is subject to mandatory audit, the fines can be very significant. For what exactly, you will find out from our review.
What exactly is the responsibility for statutory audit?
The most interesting thing is that the current legal norms do not provide for a fine for failure to conduct a mandatory audit. That is, for the very fact of absence. But don't relax. Because, if a mandatory audit is not carried out, a fine is imposed for something else.
Basically, the fine for a mandatory audit in 2018 is associated with a document such as an audit report. In this context, sanctions for evading a mandatory audit are provided for by the Code of Administrative Offenses of the Russian Federation.
The result is a vicious circle: as such, there is no penalty for failure to undergo a mandatory audit under current legislation. However, it is impossible to obtain an audit report without third-party specialists analyzing the financial statements.
Thus, there is no liability for failure to undergo a mandatory audit, as well as liability for evading a mandatory audit.
Rosstat: fine for mandatory audit in 2018
If an organization, by virtue of the law, must conduct a mandatory audit of its annual reports, it means that an audit report must be submitted to the local branch of Rosstat at the place of registration, along with a copy of the financial statements. Moreover, to be on time. Otherwise, the penalties for mandatory audit are as follows (Article 19.7 of the Code of Administrative Offenses of the Russian Federation):
- for the company as a whole - from 3 to 5 thousand rubles;
- for an accountant (most likely) – from 300 to 500 rubles.
The law establishes 2 options for the period when the auditor’s report on the reliability of the financial statements must be received by Rosstat (Part 2 of Article 18 of the Law<О бухучете˃ № 402-ФЗ):
- Together with annual accounting - within the general period.
- If the auditors’ verdict is not yet ready, then the law gives 10 working days from the date of their conclusion, but no later than December 31 of the year following the reporting year.
Disclosure of the auditor's report
This applies only to joint stock companies. For them, paragraph 2 of Article 15.19 of the Code of Administrative Offenses of the Russian Federation provides for a large fine. Including – for violation of the rules for disclosure (publication) of the audit report:
- for officials - from 30,000 to 50,000 rubles (or deprivation of the right to profession from 1 to 2 years);
- for JSC as a whole – from 700,000 to 1,000,000 rubles.
Please note that for PJSC and OJSC there is a single deadline for disclosing financial statements and audit reports. That is, they must be published for public information together and at the same time. For example, in 2018 this should have happened before April 3 inclusive. (clause 71.4 of the Regulations on the disclosure of information by issuers of equity securities, approved by the Bank of Russia on December 30, 2014 No. 454-P).
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