Abstract
The subject of this publication is to substantiate the vector of transformation of the traditional audit model for public interest enterprises in Ukraine, taking into account the synergy of qualitative characteristics of the evolution of audit in world practice, the specifics of the establishment of an audit institute in Ukraine, the need to synthesize a system-oriented and risk-oriented audit methodology. An integrated audit model has been substantiated and proposed with the expansion of the subject area for evaluating systems that generate information not only about the state and results of public interest enterprises, but also about their ability to ensure business continuity, value increment and sustainable development for the future under conditions of uncertainty. The advantages of using an integrated model in the practice of auditing public interest enterprises are demonstrated, which are associated with a substantial minimization of the gap between the expectations of stakeholders and the results of the audit, as well as information risks when making economic (in particular, investment) decisions. The purpose of the study was to substantiate the relevance, nature and elements of an integrated audit model of public interest enterprises as the main goal of transformational transformations by identifying the methodological features of audit steps in world practice, identifying and systematizing the signs of an institutionalized audit in Ukraine, establishing the specificity of the expanded subject area and the audit procedures. Sources and research methods: The information base of the study was the International Standards for Quality Control, Audit, Review, Other Provision of Confidence and Related Services (2016-2017) of the Council on International Standards on Auditing and Providing Confidence of the International Federation of Accountants; Model COSO ERM (2004, 2013, 2017); International Integrated Reporting Standard; EU Directives 2006/43/EU, 2013/34/EU, 2014/56/EU and Regulation (EU) 537/2014 regarding the regulation of the audit of financial statements of public interest enterprises; official statistics on the development of audit activities in Ukraine; scientific publications; personal observations of the author. The study used methods of analogy and synthesis; systematic approach and systematization; dialectical, historical, logical, hypothetical-deductive, economic-statistical methods. Results and practical importance: the obtained results allow us to conclude that the traditional model of auditing is ineffective for enterprises of public interest in Ukraine; the consistency of the synthesis of the methodology of systemic and risk-based auditing in an integrated audit model for such enterprises, which provides qualitative transformations to eliminate gaps in the development and development of the audit institute in Ukraine. At the same time, the results of the study are interesting from the point of view of the formation of modern ideas about how to minimize the gap of expectations of stakeholders in the practice of auditing public interest enterprises. Keywords: institute of audit, public interest enterprises, integrated audit model, gap of stakeholder expectations, business continuity, sustainable development.
Highlights
The vector of development of audit as an element of a market infrastructure that is able to protect interests and meet the information needs of a society determines the current realities of the socio-economic space of Ukraine
The subject of this publication is to substantiate the vector of transformation of the traditional audit model for public interest enterprises in Ukraine, taking into account the synergy of qualitative characteristics of the evolution of audit in world practice, the specifics of the establishment of an audit institute in Ukraine, the need to synthesize a system-oriented and risk-oriented audit methodology
Results and practical importance: the obtained results allow us to conclude that the traditional model of auditing is ineffective for enterprises of public interest in Ukraine; the consistency of the synthesis of the methodology of systemic and risk-based auditing in an integrated audit model for such enterprises, which provides qualitative transformations to eliminate gaps in the development and development of the audit institute in Ukraine
Summary
These realities are characterized by deepening of globalization processes, integration into the world economic community, strengthening of the influence of corporate sector companies of public interest on the formation of gross domestic product. The requirements for transparency of reporting companies of public interest and the completeness of the implementation of the public mission of mandatory audit are increased, as a result of the expansion of the range of information requests of users under uncertainty These requirements are enshrined in the EU Directives 2006/43 / EC [4], 2013/34 / EC [5], 2014/56 / EC [6] and Regulation (EC) 537/2014 [16]. There is a relatively slow implementation of the EU requirements in the Ukrainian legislation on the regulation of audit activities [22], the theory and practice of compulsory audit of business entities of public interest from the modern requirements is lagging behind
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