CURRENT ISSUES OF PLANNING THE AUDIT OF DEPRECIATION AND REPAIR COSTS OF FIXED ASSETS

Abstract

Introduction. The effectiveness of audit activities of various accounting facilities, including depreciation of the cost and repair costs of fixed assets, is determined by the influence of many factors, one of the most important among which is planning, which provides for the development of an audit strategy and plan. At the planning stage, the auditor structurally determines the stages of verification and ways to achieve the set goal, which requires him to have in-depth knowledge and professional judgment, possession of skills and abilities of professional activity. The purpose of the study. The study of the most important theoretical aspects and the definition of practical recommendations in matters of planning the audit of depreciation and repair of fixed assets. Methodology. The object of the study was the conceptual provisions of building a domestic audit system. The theoretical and methodological basis of the study were legislative and regulatory acts regulating audit issues, international auditing standards, research results and scientific works of domestic authors in the field of auditing accounting (financial) statements. The following methods of scientific cognition were used in the research process: abstract-logical, analytical, mono-graphic and others. Results. The authors of the article investigated the problems of planning the audit of depreciation and repair of fixed assets, justified the importance of formulating the purpose and objectives of the audit in order to rationally plan audit activities, gave recommendations on the development of an audit strategy and plan, the choice of audit procedures in order to improve the effectiveness of its results.