Specifika auditu výnosů u výrobní společnosti

The aim of this thesis was to provide a comprehensive view of revenue auditing in a manufacturing company and to analyse the impact of delivery terms (Incoterms) on the timing of revenue recognition. The theoretical part explains the accounting framework for revenue recognition, presents an overview of Incoterms, and subsequently summarises the audit process with a focus on revenues of manufacturing companies. The practical part deals with an example of a revenue audit at a fictitious manufacturing company, ABC s.r.o. It describes the auditor’s procedures from obtaining an understanding of the entity, through risk assessment, to application of substantive audit procedures. The substantive procedures showed that the company did not comply with the Incoterms they had agreed on with their customers and recognised all revenues based on the Ex Works (EXW) Incoterm. As a result, the auditor identified a material misstatement. The company corrected the revenues in its financial statements. Based on the analysis, the company’s revenues are presented correctly and that it is not necessary to modify the auditor’s opinion.