TIME DESCRIPTION OF ECONOMIC REFORMS

Problem statement. The article is devoted to the study of the theoretical and methodological principles of the audit of forecast financial statements in the context of the requirements of International Auditing Standards and the improvement of the tools of its accounting and analytical support. The purpose of the study is to develop the theoretical and methodological principles of the audit of forecast financial statements in accordance with the requirements of International Auditing Standards on the basis of improving the tools of accounting and analytical support, focused on improving the quality of the evidence base and the objectivity of the assessment of forecast information for stakeholders. The object of the study is the process of auditing forecast financial statements of enterprises. Methods used in the study: scientific knowledge, generalization method, comparison, logically – meaningful, induction and deduction methods, analysis. The hypothesis of the study is that the formation of methodological support for the audit of forecast financial statements (in accordance with the International Standard on Assurance Engagements (ISA 3400) "Review of Forecast Financial Information") based on improving accounting and analytical tools will contribute to obtaining a sufficient evidence base for assessing the validity of management assumptions and the reliability of forecast indicators, as well as increasing stakeholder confidence. Presentation of the main material. The prerequisites for the audit of forecast financial statements are substantiated. The feasibility of applying procedures for forming an audit evidence base by cleaning and normalizing accounting information from the influence of random factors and extraordinary events is proven, which allows to ensure the comparability of actual results of past periods with forecast financial information. The procedures for verifying the consistency between the forecast balance sheet and data from forecast reports on financial results and cash flows through the mechanisms of articulation of retained earnings and determining the need for additional external financing are detailed. The proposed methodology based on the principles of ISA 3400 and deductive modeling shifts the emphasis of the audit from the control of calculations to the verification of professional judgments of management. Typical distortions in forecast balances are systematized by objects of inspection to focus the audit on risk areas of subjective assessments. Types of audit conclusions based on the results of the inspection of forecast reporting are differentiated according to the nature of the detected deviations according to ISA 3400. Originality and practical significance are: an approach to forming an evidentiary base for the audit based on accounting and analytical information; procedures for verifying the consistency between the forecast balance and the data of forecast reports; a methodology for organizing an audit of forecast financial statements of enterprises in accordance with the requirements of ISA 3400, the implementation of which ensures a shift in the focus of the audit from formal control of arithmetic calculations to the assessment of professional judgments of management; recommendations on audit conclusions based on the results of the audit of forecast reporting in accordance with the nature of the identified deviations. Conclusions. The development of the methodology for auditing forecast financial reporting involves the transformation of accounting and analytical tools in accordance with the requirements of ISA 3400, which creates a reliable basis for collecting sufficient audit evidence and is a determining factor in confirming the realism of forecast indicators. The proposed procedures for cleaning and normalizing accounting information from the influence of random factors and extraordinary events ensure the representativeness of audit evidence, which allows establishing objective comparability of indicators of past periods with future expectations and confirming the reliability of financial forecasts based on the identified patterns of enterprise development trends. The implementation of a methodology for auditing forecast financial statements that integrates strategic planning, accounting policy consistency analysis, factor verification of assumptions (taking into account ESG risks) and verification of forecast balance sheet items will contribute to the formation of objective information for preparing an audit opinion depending on the type of misstatements of forecast indicators and improving the quality of audit services.

audit of forecast reporting, ISA 3400, accounting and analytical support, normalization of accounting information, ESG risks, procedures for consistency of forecast reporting, misstatement factors, types of audit opinions, audit risk

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