Quality control of auditing: Ukrainian prospects

Abstract

The authors conducted a study of the current audit quality control system in Ukraine to develop proposals according to the main areas of its development and improvement based on the positive foreign experience and criteria determined by users of audit services. The information base of the empirical study was the data from the reports of the Audit Chamber of Ukraine on the activities of audit companies and their statistical indicators. The results of the study, analytical findings and recommendations for practice and research prospects are presented in the article. The provisions of the current legislation of Ukraine are used as a source of representation of conceptual definitions and methods for assessing the quality of audit in Ukraine. The research methodology is based on theoretical generalizations and the use of the scientific tools, including comparative analysis, a survey of users of audit services regarding its qualitative characteristics and the study of the experience of foreign countries. The necessity of introducing social (public) supervision, development of internal audit quality control, increasing the responsibility of audit entities, will help to overcome the identified shortcomings associated with the quality parameters of the provided audit services. A number of hypotheses are formulated, which were confirmed during the study or require additional research. The proposed recommendations can have a positive impact on the overall quality of audit activities, provided that they are put into practice in a comprehensive manner. Thus, it is not necessary that they all be implemented at the same time. sequential implementation option is possible.