MANAGEMENT OF THE RISKS OF MATERIAL MISSTATEMENT OF INFORMATION IN THE ACCOUNTING (FINANCIAL) STATEMENTS IN ORDER TO ENSURE ITS RELIABILITY

Abstract

The article discusses the concept of reliability of accounting (financial) statements. The article presents a description of the main types of possible distortions in accounting (financial) statements that may arise within any commercial organization: material and immaterial, intentional and unintentional, technical and accounting, etc. The article also assesses the possibility of integrating a full-time unit into a company that performs the function of internal control as one of the most effective methods of ensuring the reliability of accounting (financial) reporting data. A description of the audit organization’s strategy of action is given as a method of preventing distortions of accounting (financial) statements in Russian commercial organizations.