The main control procedures carried out by responsible persons to minimize errors in accounting

Accounting (financial) statements of an organization are its “financial statement”, an indicator of the quality of work and the basis for decision-making by owners and investors. In this connection, it can be said that mistakes, intentional or not, can significantly affect the future of the company. In order to provide the most reliable financial information, the persons responsible for the formation of this information must control the correctness of the formation of accounts and, as a result, reporting. This, in turn, determines the importance and necessity of the formation and subsequent application of control procedures to minimize the risk of distortion of reporting data. The methodology of control procedures, to a greater extent, is based on the timely response of the accounting service to changes in the requirements of legislation and the minimization of errors due to the human factor by self-discipline of each employee, the key elements of which are attentiveness and responsibility.