THE STATE AUDIT OF FINANCIAL STATEMENTS
Abstract
Purpose – the paper aims to consider the specifics of auditing financial statements in the republic sector. To analyze foreign experience and determine the possibilities for using it in the implementation of a new function of the state audit – the audit of consolidated financial statements of the republic budget.
Methodology – in the process of research, have been general scientific and special research methods, including system analysis and synthesis, theoretical generalization, scientific abstraction.
Originality/value – based on the results of the study, the author's formulation of the audit of financial statements in the public sector was proposed, considering its specifics. Based on the study of the foreign experience in auditing the consolidated financial statements of the republican budget, it is revealed that the structure of compiling consolidated financial statements of the republican budget of the Republic of Kazakhstan is closest to the practice of the UK and proposals is given for methodological provision and rational organization of state audit.
Conclusions – total adoption of the audit of the consolidated financial statements of the republic budget practical procedures of any country to the Kazakhstan’s system is unacceptable, since there are differences in the organizational structure of the state audit bodies, the economic and political development direction. At the same time, the application of US experience in increasing the composition of forms in the consolidated financial statements of the country, and the organization of internal control over the preparation of consolidated accounts of the republic budget will help to increase the degree of confidence in the reporting.
About the Authors
B. A. Alibekova
L.N. Gumilyov Eurasian National University
Kazakhstan
Kazakhstan
Candidate of economy Sciences, Associate professor
Astana
D. T. Aldyngarova
L.N. Gumilyov Eurasian National University
Kazakhstan
Kazakhstan
Astana
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Review
For citations:
Alibekova B.A., Aldyngarova D.T. THE STATE AUDIT OF FINANCIAL STATEMENTS. Central Asian Economic Review. 2018;(4):72-83. (In Russ.)
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