Functional problems of audit at the present stage of his development

Today decrease in a role of audit as factor of control of distortions of accounting reports as a result of unfair actions of the economic subject is noted. The main reasons of that are the followings: non-compliance with requirements of auditor standards; financial crisis; imperfection of methodology of audit regarding identification of distortions of financial statements as a result of unfair actions of the economic subject; objective impossibility of officially recognized audit of accounting reports to consider risks of informal shadow activity of economic subjects; inconsistency of institute of audit with the ordered activities of economic agents.