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External Audit of Settlements with Customers

Student: Arakelian Edgar

Supervisor: Natalia Vladimirovna Maksimova

Faculty: Faculty of Economics

Educational Programme: Finance (Master)

Year of Graduation: 2017

Analyzing the reasons of instability of the economy, we can say that the risks of non-payment or untimely payment of bills lead to arrears. In this case, one of the activities of the company is collection or payment of debt, because, for example, the growth of accounts receivable leads to additional costs of the organization: the period of receivables turnover increases, which will lead to a shortage of working capital. The purpose of study was the development and testing of information and methodical support for auditing settlements with customers with the development of recommendations for improving settlements with customers. In the first chapter, the objectives and tasks of auditing settlements with buyers, regulatory legal acts. In the second chapter, information-methodical support of audit of settlements with buyers was developed on the example of the company "Rostpak-NN", which became the basis for managing receivables, which is described in the third chapter. The conducted research determined the goals and objectives of the audit of settlements with buyers, the most optimal methodology for conducting it. During the audit of settlements with customers, the internal control system of the enterprise was subjected to analysis, the level of materiality, audit risk and sampling were determined, a general strategy and plan for auditing settlements with customers were developed. As a result of the audit of settlements with buyers of LLC RostPak, an opinion was expressed about the reliability of the company's financial statements and the absence of distortions in the reflection of settlements with customers. Based on the results of the audit, an analysis of accounts receivable was made: there are precedents of overdue debts, which indicates ineffective management of accounts receivable. Based on this, it is recommended 1) to approve the internal regulations on the management of accounts receivable; 2) apply factoring of debt; 3) create a reserve for doubtful debts.

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