AUDIT POLICY OF AUDIT ENTITIES IN CONDITIONS OF SUSTAINABLE DEVELOPMENT

Abstract

Decentralization processes and conditions for sustainable development have made significant changes in the regulation and coordination of audit services. The diversification, complexity and emergence of new audit objects necessitated the transformation of its methodology. The article thoroughly analyzes the current regulatory framework for auditing. It identifies areas for improvement in the internal audit, which provides auditing companies with a choice of approaches to managing the quality of their services, pricing policy, corporate ethics, etc. This is enhanced by sustainable development and processes of decentralization of power and management. The ability to choose methods and procedures in accounting has led to the concept of «accounting policy». The application of the category «audit policy» in the theory and practice of audit is ripe. This category for auditing entities is justified by the need for comprehensive systematization in one internal document of both the description of approaches (policy disclosure) on the features of quality management and pricing of their services and the disclosure of their social positioning and responsibility. Public audit policy will contribute to the formation of a positive image of this activity in society (in particular, in certain rural areas) and its compliance with sustainable development goals. The category «audit policy of the audited entity» is widely used in the science and practice of auditing. We modelled the main provisions (sections) of its content (mission, quality management, personnel development and gender equality, corporate ethics, partnership responsibility, pricing and staff remuneration, roadmap for the development of public utility, professional and social activity). The use of audit policy as an internal document that defines the key guidelines and choice of approaches to the operation of the audit company for a certain period forms the core of its financial activities and serves as a comprehensive representation of the company to external partners.