ORDER OF THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION

of August 5, 2020 No. 160n

About approval of the federal standard of internal financial audit "Planning and carrying out internal financial audit"

According to Item 5 of Article 160.2-1 and the paragraph the forty fifth Article 165 of the Budget code of the Russian Federation (Russian Federation Code, 1998, No. 31, Art. 3823; 2019, 31, of the Art. 4466) I order to No.:

approve the enclosed federal standard of internal financial audit "Planning and carrying out internal financial audit".

Approved by the Order of the Ministry of Finance of the Russian Federation of August 5, 2020, No. 160n

Federal standard of internal financial audit "Planning and carrying out internal financial audit"

I. General provisions

1. This federal standard of internal financial audit "Planning and carrying out internal financial audit" (further - the Standard) is developed according to Article 160.2-1 of the Budget code of the Russian Federation (The Russian Federation Code, 1998, No. 31, Art. 3823; 2019, No. 30, the Art. 4101), is applied by officials (workers) of the main managers of budgetary funds, chief managers of budget receipts, chief managers of sources of financing of budget deficit (further - chief managers of budgetary funds), managers of budgetary funds, receivers of budgetary funds, administrators of budget receipts, administrators of sources of financing of budget deficit (further - administrators of budgetary funds) when implementing internal financial audit.

Planning and holding auditor actions is performed according to provisions of this Standard and other federal standards of internal financial audit regulating planning and holding auditor actions.

2. For the purpose of this Standard terms in the values determined by the federal standard of internal financial audit "Determinations, the principles and tasks of internal financial audit" <1> are applied.

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<1> The federal standard of internal financial audit "Determinations, the principles and tasks of internal financial audit", approved by the order of the Ministry of Finance of the Russian Federation of 21.11.2019 No. 196n (registration No. 56863) is registered by the Ministry of Justice of the Russian Federation on December 18, 2019.

II. Planning of internal financial audit

1. Annual planning of auditor actions for the purpose of scheduling of holding auditor actions

3. Planning of auditor actions for the purpose of scheduling of holding auditor actions can be performed with use of the applied software and information systems including created in accordance with the established procedure for automation of execution of budget powers of the chief manager (administrator) of budgetary funds taking into account requirements of the legislation of the Russian Federation about information, information technologies and about information security and includes the following stages:

a) forming of the auditor actions this for creation of the draft of the plan of carrying out;

b) creation of the draft of the plan of holding auditor actions;

c) approval of the plan of holding auditor actions.

4. When forming of the auditor actions this for creation of the draft of the plan of carrying out are considered:

possibility of implementation of internal financial audit according to the principles of internal financial audit, including the principle of functional independence;

resource capability degree (temporary, labor, material, financial and other resources which are capable to exert impact on quality of implementation of internal financial audit);

possibility (need) of attraction to holding auditor actions of officials (workers) of the chief manager (administrator) of budgetary funds and (or) experts;

need of reservation of time and manpower on holding unplanned auditor actions proceeding from data on the unplanned auditor events held in the years preceding year of creation of the draft of the plan of holding auditor actions (1 - 2 years);

need of reservation of time for implementation by officials (workers) of the subject of internal financial audit of professional development for the purpose of maintenance and increase in the skill level necessary for implementation of internal financial audit;

the decisions of the head of the chief manager (administrator) of budgetary funds on need of holding planned auditor actions accepted in case of approval of plans of holding auditor actions in prior years (1 - 2 years);

information containing in the register of budget risks including on significant budget risks. Assessment of budget risks, including determination of the importance (level) of budget risk, is performed according to appendix No. 1 to this Standard;

results of the monitoring of implementation of measures for minimization (elimination) of budget risks which is carried out by officials (workers) of the subject of internal financial audit according to Items 22 - 24 federal standards of internal financial audit "Realization of results of internal financial audit" <2>;

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