Due Diligence: Problematic Aspects of a Modern Auditing Service

DOI

10.2991/iscfec-19.2019.84How to use a DOI?

Keywords

auditing activities, auditing companies, audit related services, due diligence, risks, investment.

Abstract

This paper presents the author view on problematic aspects of the due diligence procedure as a modern auditing service. Conducting the due diligence involves an investment research. The results of this research include identification of risks, that can make influence on a proposed capital market transaction, and the design of risk management techniques. The author notes one important problem – currently there are no professional audit standards and methodological recommendations in Russian legislation governing the process of organization and conducting of the due diligence procedure. The objectives of this article are to synthesize the results of earlier studies and to determine the key elements of the concept needed to develop the working technique of conducting the due diligence in Russia. In this paper tasks are determined as the presentation of an algorithm for risk assessment for the due diligence, the proposal of the draft due diligence standard, the formation of a glossary of terms for the working technique of the due diligence. The relevance of the topic is determined by the necessity of the innovative development of theoretical and methodological bases of auditing in Russia. The conditions for further improvement of professional practices should be made to provide high-level audit related and other audit services to meet today's information needs of investors, who make decisions in changing and risky economic conditions.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - N.A. Antonova
PY  - 2019/05
DA  - 2019/05
TI  - Due Diligence: Problematic Aspects of a Modern Auditing Service
BT  - Proceedings of the International Science and Technology Conference "FarEastСon" (ISCFEC 2019)
PB  - Atlantis Press
SP  - 299
EP  - 301
SN  - 2352-5428
UR  - https://doi.org/10.2991/iscfec-19.2019.84
DO  - 10.2991/iscfec-19.2019.84
ID  - Antonova2019/05
ER  -