Quality control: different markets - common problems

       President of NP "Appraisers Union of RT" Andrew Lisichkin and CEO Oleg Bulgakov participated in the round table "Effect of external quality control of audit firms on the audit services market. Main directions of the audit firms work quality improvement", held on June 20, 2014 in Kazan Federal University. The forum was organized by Rosfinnadzor (Federal Financial and Budgetary Supervisory Service), the Ministry of Economy of Tatarstan, as well as major SRO of Russian auditors. Welcomed the participants the minister of RT economy Midhat Shagiakhmetov and president of KFU Myakzyum Salahov. The speeches of Deputy Head of the Federal Financial and Budgetary Supervisory Service Ilya Kucherov, Director of the Ministry of Finance Department of the Russian Federation Leonid Shneidman, heads of SRO, audit organizations and educational institutions raised topical issues on the implementation of internal and external work quality control of audit firms. In particular, there was highlighted the need for concerted actions of the state supervisory bodies and SROs during audit organizations inspections and formation of the universal classification and methodological basis of such checks in order to avoid duplication and ensure the business interests. Considered the lack of the universal system of information accounting on the auditors activities, disunity of  criteria, standards and requirements for the members in various SROs, the external work quality control formal requirements, the dumping problems in tenders for the audit services, weak mechanism of fraud audit organizations and auditors disciplinary liability, including the transfer to the other SROs, the problems of internal quality control and inspections efficiency.

    A number of the issues, relevant for the assessment community, taking into account the proposed changes in the legislation on valuation activities, mainstream activities implementation of the Expert Advisory Board of NP "Appraisers Union of RT", is planned to be submitted for discussion by the appraisal community of the Republic of Tatarstan.