Specifics of Revenue Audits Under IFRS 15 for Retail Businesses

This thesis examines the specific aspects of revenue auditing under IFRS 15 in a retail e-commerce company. The main objective is to analyse these specific aspects and demonstrate the auditor’s key procedures using a real audit file. A secondary objective is to evaluate the differences between Czech Accounting Standards (ČÚS) and IFRS, including the impacts on users of the reported information. The theoretical section defines a five-step revenue recognition model and the audit framework according to ISA standards. The practical section applies these findings to a specific entity. The result is the identification of key audit specifics: the double-verification methodology (reconciliation bridge), the preparation of comprehensive memoranda, the involvement of an internal expert, and the testing of application controls. The thesis demonstrates that although the methodological differences between ČÚS and IFRS are vast, the impact on the financial statements of the audited company was marginal. An audit of this type requires a shift from document verification to analytical testing of the IT environment.