AUDIT ORDER OF REFLECTION ON ACCOUNTS OF ACCOUNTING OF BANKRUPTCY...

AUDIT ORDER OF REFLECTION ON ACCOUNTS OF ACCOUNTING OF BANKRUPTCY PROCEDURES

Basic concepts

Audit liquidation balance. Audit of creditors involved in bankruptcy procedures. Audit of the accounting process when external management is introduced. Audit of the accounting process in the competitive process. Audit of the accounting process under supervision. Audit of the accounting process in the bankruptcy procedures of the creditor. Audit of the accounting process under the settlement agreement procedure. Database of audit firms. Measures of anti-crisis development. Permanent file with information on organizations audited in connection with the passing of the bankruptcy procedure. Procedures for financial recovery. The purpose of the auditor's participation in the development of an anti-crisis development strategy. Stages of developing an anti-crisis management strategy

Audit of the accounting process under observation

The auditor should check the accuracy of the reflection on the accounts of accounting consequences of the arbitration court's ruling on the introduction of observation.

Observation is a bankruptcy procedure applied to the debtor in order to ensure the safety of the debtor's property, analyze the financial condition of the debtor, compile a register of creditors' claims and hold the first creditors meeting.

The auditor should check how the creditors' claims on monetary obligations and on the payment of compulsory payments, the due date for which came at the date of introduction of supervision, are satisfied, which can be brought against the debtor only in accordance with Law No. 127-FZ. At the request of the creditor, the proceedings on the cases related to recovery from the debtor of funds are suspended.

The auditor checks whether execution of executive documents on property penalties has been suspended, including whether arrests have been lifted for the debtor's property.

The satisfaction of the claims of the founder (participant) of the debtor about the allocation of a share (share) in the property of the debtor in connection with the withdrawal from the composition of its founders (participants), repurchase of the placed shares or the payment of the actual value of the share (share) is prohibited.

It should be borne in mind that it is forbidden to pay dividends and other payments on equity securities. It is not permitted to terminate the debtor's monetary obligations by offsetting a counter-homogeneous claim, if in this case the established cl. 134 of Law No. 127-FZ, the order of satisfaction of claims of creditors.

The introduction of observation is not grounds for dismissing the head of the debtor.

The auditor checks which transactions are made by the debtor's management bodies. It is allowed with the written consent of the temporary manager to make transactions that are related to: acquisition, alienation or possible alienation, directly or indirectly, of the debtor's property whose book value is more than 5% of the book value of the debtor's assets as of the date of introduction of the surveillance; receipt and issue of loans (loans), guarantees and guarantees, assignment of rights of demand, transfer of debt, as well as with the establishment of trust management of the debtor's enterprise.

The debtor's management bodies can not make transactions:

• for reorganization (merger, merger, division, separation, transformation) and liquidation of the debtor;

• on the establishment of legal entities or on the participation of the debtor in other legal entities;

• on the establishment of branches and representative offices;

• on payment of dividends or distribution of the debtor's profit between its founders (participants)

• on the placement by the debtor of bonds and other equity securities, with the exception of shares;

• on leaving the founders (participants) of the debtor, buying from the shareholders of previously issued shares;

• about participation in associations, unions, holding companies, financial-industrial groups and other legal entities associations

• on the conclusion of contracts of a simple partnership.

It is necessary to verify the fulfillment of the requirement that the head of the debtor should contact the founders of the debtor within 10 days with a proposal to hold a general meeting of the founders to consider questions on the appeal to the first meeting of creditors of the debtor.

When auditing the accuracy of reflecting expenses arising in the course of conducting bankruptcy procedures that are not directly related to the main activity of the debtor enterprise, it should be borne in mind that the law defines the assignment of many types of expenses to the account (at the expense of) the property of the debtor enterprise, for which you should open a special sub-account to account 26 (44) "Expenses related to bankruptcy procedures", which can open individual sub-accounts depending on the types of costs and sources of coverage.

The auditor should check on the debit of this account the reflected amounts of expenses incurred from the credit of cash accounting accounts, settlements with debtors and creditors, such as the costs of convening and holding meetings of creditors, accrued remuneration to the arbitrator, court), the costs of notifying creditors about the initiation of a bankruptcy case, litigation costs, examination costs, publication costs, property appraisal costs, etc.

The auditor, checking the tax aspects of these expenses, is guided by paragraphs. 18, paragraph 1 of Art. 264 of the US Tax Code, according to which for the purposes of taxation of profits, the costs associated with paying compensation to the arbitration administrator are related to other expenses related to production and sale. The arbitration manager may be only a US citizen who is registered as an individual entrepreneur (clause 1 of Article 20 of Law No. 127-FZ). Therefore, the calculation and payment of personal income tax, insurance premiums, contributions to compulsory pension, medical, social insurance from the amount of remuneration the arbitration manager produces independently.

Write-off of expenses is reflected in the credit of the account in the debit of the accounts of sources of their coverage: the company's own funds (capitals and funds, including account 86 "Target financing", as well as account 84 "Retained earnings (uncovered loss)"); (91 Other income & expense ) or sale of the business.

The auditor should verify compliance with the requirements of Law No. 127-FZ on the availability of only one (main) current account during bankruptcy proceedings. All other settlement, currency and other accounts in banks must be closed, and the funds are transferred to a single settlement account. The currency available in foreign currency accounts is subject to sale, with the transfer of the ruble equivalent to the settlement account.

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