Ugurchiev Muslim

In recent years, bankruptcy of large companies, caused to some extent by fraud committed by the top management of these companies, has led to crisis. In view of this, more and more emphasis is being placed on the importance of submitting accurate reporting and on transparency of economic activities. Improving the reliability and accuracy of accounting information intended for users is the objective set for the market participants. Accordingly, detailed analysis of the current control practices and the cooperation between internal and external auditors of the company are vital. If the external auditor uses specific data of the internal auditors, the external auditor shall include in the audit documentation the conclusions reached regarding the evaluation of the adequacy of the work of the internal auditors, and the audit procedures performed by the external auditor on that work.