Aspects of Financial Reporting Transformation Based on International Standards

Abstract

This article discusses the need to examine consolidated financial statements in accordance with International auditing standards, to identify audit risk and to obtain them in relation to the financial statements of companies in the group as a whole, as well as auditing the consolidated financial statements in a language that is understandable to shareholders and investors. The goal of the countries of the world is to organize quality, achieve a positive result in the field of production and services in modern economic practice, and thereby achieve maximum efficiency. In addition, mistakes in the organization of the consolidated financial statements in accordance with international standards are justified.