Audit of the explanatory note

Most auditors, in the process of auditing financial (accounting) statements, fairly conscientiously check the indicators in the forms N 1-6 of the statements and transcripts (explanations) to them. This article indicates that the verification of the explanatory note is often not given due attention for a number of reasons. It is also investigated that the verification of compliance with the general principles of reporting (reliability, completeness, materiality, neutrality and comparability of information, etc.) requires significant qualifications of the auditor. This article reveals that the explanatory note may include indicators that are not processed directly in the accounting system, as well as non-financial indicators, which also complicates its verification. The article discusses the features of this type of audit.