AUDIT OF LIABILITIES: THEORY, METHODOLOGY AND PRACTICE

Abstract

 Nowadays a number of regulatory and legal documents are
being developed on auditing and giving conclusions financial statements of
economic entities of various ownership types operating in the territory of the
Republic of Uzbekistan based on the requirements of international audit
standards. In this article explained the theoretical and practical considerations of
the use of international audit standards by auditors in conducting risk-based
audits of business entities. In addition, suggestions and recommendations were
developed to eliminate inconsistencies in financial statements and reduce the
risk of significant misstatements.