AUDIT SERVICES MARKET: THE EXPERIENCE OF UKRAINE

##plugins.themes.bootstrap3.article.main##

##plugins.themes.bootstrap3.article.sidebar##

Published: Oct 29, 2021

  Yaroslavna Mulyk

Abstract

The purpose of the paper is to study the current state of the audit services market in Ukraine, identifying problems and making suggestions for its improvement in terms of European integration. Methodology. General scientific economic and mathematical methods (analysis, synthesis, abstraction, concretization) as well as special methods (comparison, tabular) were used. Results. Audit is one of the important types of services and is becoming increasingly important. It is established that nowadays audit has a number of contradictions and problems. Imperfect regulation of audit market in Ukraine led to problems in confirming the quality and reliability of financial reporting, which increases the risk of bankruptcy of enterprises and banks and reduces the level of confidence in them from potential investors and the public, and also creates obstacles to attract investment in the national economy as a whole. Analysis of audit services market in Ukraine shows a significant differentiation in the number of auditing entities and the cost of their services. There is a decrease in the number of subjects of audit activities, while the cost of services increases. The influence of the regional factor is significant, which led to the greatest concentration of the audit services market in certain regions. In general, the trends of audit development can be described as diversification of audit services with a gradual increase in their volume and value. Practical implications. As a result of the study the priority directions of development of the domestic market of audit services have been identified. Improving the chances of financial success of the subjects of audit activities is provided primarily by improving the quality of audit services performed by professional staff and expanding their range using specialized audit software, as well as the development of industry audit techniques. Provision of audit services to the client, taking into account the requirements of international standards, EU legislation, the application of best practices in the field of auditing, the specifics of the client will increase interest in the audit.

How to Cite

Mulyk, Y. (2021). AUDIT SERVICES MARKET: THE EXPERIENCE OF UKRAINE. Green, Blue and Digital Economy Journal, 2(3), 35-42. https://doi.org/10.30525/2661-5169/2021-3-6
Article views: 165 | PDF Downloads: 173

##plugins.themes.bootstrap3.article.details##

Keywords

audit, audit activity, audit services, audit quality, audit market, audit reform

References

Pro audyt finansovoji zvitnosti ta audytorsjku dijaljnistj [On the Audit of Financial Statements and Auditing Activities]: Law of Ukraine of 21.12.2017 no. 2258-V111. Available at: https://zakon.rada.gov.ua/go/2258-19.

Mulyk, Ya. (2020). Audytorsjka dijaljnistj v Ukrajini: suchasnyj stan, reformuvannja ta rozvytok [Audit activities in Ukraine: Current Situation, Reform and Development]. Agrosvit, 7, 37–47. DOI: https://doi.org/10.32702/2306-6792.2020.7.37

Gutsalenko, L. V. (2011). Audyt v Ukrajini: rozvytok, problemy ta shljakhy jikh vyrishennja [Audit in Ukraine: Development, Problems and Solutions]. Innovative economy, 20, 97–101.

Platonova, I. A. (2011). Problemy ta perspektyvy audytu v Ukrajini [Problems and Prospects of Auditing in Ukraine]. Scientific Bulletin of Poltava University of Economics and Trade. Series: Economic Sciences, 4 (2), 337–341.

Pavlenova, K. O. (2009). Suchasni problemy ta perspektyvy rozvytku audytu v Ukrajini [Current Problems and Prospects of Audit Development in Ukraine]. Available at: http://www.rusnauka.com/23_D_2009/Economics/49916.doc.htm

Tomchuk, O. V., Zdyrko, N. G. (2017). Suchasnyj stan i tendenciji rozvytku audytorsjkoji dijaljnosti v Ukrajini [The Current State and Trends in the Development of Auditing in Ukraine]. Economy. Finances. Management: Current Issues of Science and Practice, 4, 32–42.

Informacija pro stan audytorsjkoji dijaljnosti v Ukrajini u 2018 roci [Information on the State of Auditing in Ukraine in 2018]. Audit Chamber of Ukraine. Available at: https://www.apu.com.ua

Informacija pro stan audytorsjkoji dijaljnosti v Ukrajini u 2020 roci. [Information on the State of Auditing in Ukraine in 2020]. Audit Chamber of Ukraine. Available at: https://www.apu.com.ua

Prokhorova, L. I., Yukhimenko, E. S. (2019). Suchasnyj stan i tendenciji rozvytku audytorsjkoji dijaljnosti v Ukrajini [Analysis of the Current State and Problems of Reform and Development of Auditing in Ukraine on the Basis of International Experience]. Young Scientist, 6 (2), 205–210.

Porjadok provedennja perevirok z kontrolju jakosti audytorsjkykh poslugh [Procedure for Conducting Inspections to Control the Quality of Audit Services]: Order of the Ministry of Finance of Ukraine of August 29, 2019, no. 362. Available at: https://zakon.rada.gov.ua/laws/show/z1026-19.

Zdyrko, N. G., Mulyk, Ya. I. (2019). Derzhavnyj finansovyj kontrolj v systemi zabezpechennja ekonomichnoji bezpeky derzhavy [State Financial Control in the System of Economic Security of the State]. Economy. Finances. Management: Current Issues of Science and Practice, 7, 112–122.

Oneshko, S. V., Viter, S. A., & Viremeychik, A. M. (2021). Strateghija rozvytku audytu v umovakh cyfrovoji ekonomiky [Audit Development Strategy in a Digital Economy]. Investments: Practice and Experience, 15, 64–69. DOI: https://doi.org/10.32702/2306-6814.2021.15.64

Mulyk, T. O., Maternal, O. A., & Plonsak, O. L. (2017). Analiz ghospodarsjkoji dijaljnosti [Analysis of Economic Activity]. Kyiv: Center for Educational Literature. (in Ukrainian)

Pravdyuk, N. L., Mulyk, T. O. & Mulyk, Ya. I. (2019). Upravlinnja finansovoju bezpekoju pidpryjemstv: oblikovo-analitychnyj aspekt [Management of Financial Security of Enterprises: Accounting and Analytical Aspect]. Kyiv: Center for Educational Literature. (in Ukrainian)