Identification of financial statements’ distortions and control of lease operations

The expansion of professional judgment opportunities and subjective assessments in the reflection of the lease leads to the possibility of intentional or accidental distortion of data. The purpose of the article is to identify areas of such distortion. The paper presents the most risky elements of lease accounting, determines the consequences of the implementation of the distortion’s risks both for the lease participants (lessees and leaseholders) and for users of reporting, and suggests options for testing these elements for the presence of distortions.