Th e article gives the concepts of mistake, distortion of registration and reporting information, fraud, unfair actions according to the Russian and international standards of accounting and auditing activities. Th e author off ers an order of defi nition of typical distortions of registration and reporting information according to prerequisites of drawing up accounting reports. Examples of typical distortions of registration and reporting information are given.

Th e article considers audit organizational framework of production manufacture costs, its goals and objectives. The principles by which the auditor should be guided in his activity are given.

Subject. This article examines the revised requirements and recommendations of the current ISA 315 Standard – Identifying and Assessing the Risks of Material Misstatement, and compares them with the provisions of the previous redrafted Standard – Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment. Objectives. The article aims to analyze the new edition of the ISA 315 Standard, which reflects important changes that have been made in response to the changing operating environment of the organization and the use of information technology and financial reporting structure. Methods. For the study, we used classification, synthesis, and induction and deduction. Results. The article identifies the most important changes made to the revised ISA 315 Standard and describes a case of an internal control system assessment based on the relationship between the control environment, risk assessment process, information system, control activities and control procedures. Conclusions. The article concludes that the improvements and clarifications provided by the current ISA 315 Standard – Identifying and Assessing the Risks of Material Misstatement, help auditors to apply audit risk models in identifying and assessing risks of material misstatement.

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This article examines the issues of audit and their reflection in the audit documentation. The specifics of the formation of the auditor’s working documents at various stages of the audit are disclosed. The author’s approach to the preparation of the report on the results of the audit of production costs based on an analysis of the content international audit standards is proposed.