Public sector audit and influence the investment institutional background during a pandemic

Abstract

The study purpose was to assess the impact of public sector audit on investment climate formation under the COVID‐19 pandemic and to develop recommendations to improve its effectiveness. For this purpose, a multistage research project was developed with the participation of auditors from Russia, Kazakhstan, and Ukraine. The project was based on the primary information obtained in the course of expert interviews. Testing the methodological approach with experts from these countries allowed proving the main study hypotheses, according to which the public sector audit has an indirect positive impact on investment climate formation. Such an audit influences the main impact factors through improving public administration efficiency, the fight against corruption, and the provision of the regulatory framework. During the testing, the main directions for improving public audit for a more favorable investment climate were formulated. The developed methodological approach makes it possible to obtain an expert assessment of the impact of the public audit on investment climate formation. At the same time, partial use of statistical methods makes it possible to replicate the study in the form of an expert interview, which increases its attractiveness for researchers in conditions of shortage of qualified interviewers.