Accounting and Audit of Current Liabilities of an Enterprise Under Risk-oriented Management Conditions
DOI:
https://doi.org/10.35774/Keywords:
current liabilities, accounting, audit, risk-oriented approach, financial reporting, internal control, accounts payable, information risksAbstract
The article provides a comprehensive theoretical and methodological study of accounting and auditing of current liabilities within the framework of risk-oriented financial management. It is substantiated that current liabilities constitute a critical component of financial reporting, reflecting the short-term solvency of an enterprise and serving as a key determinant of its financial stability. It is demonstrated that the processes of recognition, measurement, and classification of liabilities concentrate the primary set of accounting and information risks that may lead to material misstatements in financial statements. The study systematizes the main categories of risks associated with the formation and reporting of current liabilities, including risks of delayed recognition, methodological and measurement risks, hidden accounts payable, liquidity risks, and financial fraud risks. It is established that these risks are multidimensional in nature and arise both at the stage of initial recording of economic transactions and during the transformation of accounting data into financial reporting indicators. The conceptual foundations of risk-oriented auditing of current liabilities are further developed, emphasizing the concentration of audit procedures on areas with a high probability of material misstatement. It is substantiated that audit effectiveness depends on the integration of internal control testing procedures, substantive analytical procedures, and external confirmations, which collectively enhance the reliability of audit evidence. An integrated management model of current liabilities is proposed, based on the combination of accounting digitalization, risk-based control, continuous analytical monitoring, and internal audit. The implementation of this model reduces information asymmetry, improves the reliability of financial reporting, and establishes a preventive framework for financial risk management. It is concluded that the transformation of accounting and auditing of current liabilities towards a risk-oriented paradigm enhances managerial decision-making efficiency, strengthens enterprise financial stability, and increases the transparency of financial information under conditions of economic uncertainty.
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