Systematization of financial performance audit procedures: An industry perspective

Subject. This article deals with the control procedures applied in the audit of the financial results of construction organizations. Objectives. The article aims to optimize the audit procedures of the financial performance of construction industry organizations, taking into account the sector-specific aspect. Methods. For the study, we used the case, computational and constructive, and analytical research methods. Results. The article presents the author-developed systematization of procedures for monitoring the financial performance of organizations by element and taking into account the risks inherent in the construction industry, a gradation of original variations of auditing the formation of financial results, as well as a set of audit documentation that helps optimize the audit process. Conclusions and Relevance. The use of the proposals presented in this research work during the audit of the financial results of construction organizations will help improve accounting and analytical work in terms of determining the financial result from sales, other income, as well as in terms of forming net profit and its utilization. The conclusions drawn and the substantiated recommendations can be used to improve the methodology for auditing the formation of financial results in construction organizations, including the audit planning process, providing methodological support, and documenting and summarizing the results of auditing the accounting of financial results.