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{"id":13585,"date":"2020-05-20T10:00:51","date_gmt":"2020-05-20T07:00:51","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=13585"},"modified":"2020-05-20T11:29:47","modified_gmt":"2020-05-20T08:29:47","slug":"methodological-approaches-for-the-improvement","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/methodological-approaches-for-the-improvement\/","title":{"rendered":"Honcharuk, S., Pryimak, S. & Shot, A. Methodological Approaches for the Improvement of the Quality of Financial Statement Audit"},"content":{"rendered":"

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JEL Classification<\/strong>: M42
\n<\/span><\/td>\n		DOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V20(2020)-09<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Honcharuk Svitlana\u00a0<\/strong>, Candidate of Economic Sciences, Associate Professor, Docent, Department of Accounting, Analysis and Control, Faculty of Financial Management and Business, Ivan Franko Lviv National University<\/p>\n

ORCID ID<\/strong>: 0000-0002-3666-906X<\/a>
\ne-mail<\/strong>: yvgoncharuk@i.ua<\/a><\/p>\n

Pryimak Svitlana\u00a0<\/strong>, Candidate of Economic Sciences, Associate Professor, Docent, Department of Accounting, Analysis and Control, Faculty of Financial Management and Business, Ivan Franko Lviv National University<\/p>\n

ORCID ID<\/strong>: 0000-0002-3694-4498<\/a>
\ne-mail<\/strong>: svpriymak5@gmail.com<\/a><\/p>\n

Shot Anna\u00a0<\/strong>, Candidate of Economic Sciences, Associate Professor, Docent, Department of Accounting, Analysis and Control, Faculty of Financial Management and Business, Ivan Franko Lviv National University<\/p>\n

ORCID ID<\/strong>: 0000-0002-9156-501X<\/a>
\ne-mail<\/strong>: annashot111@gmail.com<\/a><\/p>\n

 <\/p>\n

Methodological Approaches for the Improvement of the Quality of Financial Statement Audit<\/h2>\n

 <\/p>\n

Abstract<\/strong>. The article deals with the issues related to the quality of financial statement audit. The authors examined the legal framework and the regulatory documents regarding the audit. They analyzed the structure of the audit entities and the results of external audits of the audit quality control system. The authors analyzed the performance of audit entities in Ukraine in recent years. It has been determined that the auditor uses professional judgment and professional skepticism to express an independent opinion on the audited financial statements. Authors defined the areas for improvement of the quality of financial statement audit. They proposed to use such tools as developing audit methodology at the stage of planning and gathering audit evidence, applying methods of reducing audit risk, determining the optimal scale, effective control and audit procedures, improving the approach for maintaining internal documents based on internal standards. Independent audit is a stabilizing element in the system of socio-economic relations. It carries out informative and stimulating functions. Audit helps to reduce information risk and prevents or minimize the conflicts of interest. Authors highlighted that using of the computer technologies will help in the organization of control actions, planning, analysis of financial statements of enterprises, evaluation of the efficiency and reliability of information systems and organization of work in audit firms. External quality assurance system of auditors is very important. It should be based on the international experience. Public Audit Oversight Authority plays this role in Ukraine.<\/p>\n

Keywords<\/strong>: financial statements audit; criteria; professional judgment; professional skepticism; audit procedures; audit evidence; working documents; audit report; quality assurance system.<\/p>\n

References:<\/strong><\/p>\n

    \n
  1. Verkhovna Rada of Ukraine (2017). About the Audit of Financial Statements and Audit Activities (Act No. 2258-V111). Retrieved from: https:\/\/zakon.rada.gov.ua\/go\/2258-19 [in Ukrainian].<\/li>\n
  2. Audit Chamber of Ukraine (2020). The actual list of auditors in Ukraine. Retrieved from: https:\/\/www.apu.com.ua\/audytory [in Ukrainian].<\/li>\n
  3. Audit Chamber of Ukraine (2020). ACU reports to the Cabinet of Ministers of Ukraine. Summary regarding the current state of audit activities in Ukraine in 2013-2018. Retrieved from: https:\/\/www.apu.net.ua\/zvit-do-kmu [in Ukrainian].<\/li>\n
  4. Audit Public Oversight Body of Ukraine (2020). Concept of creation of informational and analytical support of Public oversight body related to audit activities (No. 1\/17, January 31). Retrieved from http:\/\/www.apob.org.ua\/?p=1782 [in Ukrainian].<\/li>\n
  5. Adams R. (1995) Osnovy audyta<\/em>. Moscow: Yunyty, Audyt [in Russ.]<\/li>\n
  6. Baranova, O. (2017). Audyt.<\/em> Kharkiv: KHDUKHT [in Ukrainian].<\/li>\n
  7. Prokhorova, I. & Yukhymenko, YE. S. (2019). Analysis of the current state and problems of reforming and development auditing in Ukraine based on international experience. Molodyy vchenyy<\/em>, 7 (70), 205-211 [in Ukrainian]. DOI: https:\/\/doi.org\/10.32839\/2304-5809\/2019-6-70-40.<\/li>\n
  8. Pshenychna, ZH. (2018). Audyt.<\/em> Kyiv: \u00abTsentr uchbovoyi literatury\u00bb [in Ukrainian].<\/li>\n
  9. Redko, O. Yu. (2008). Audyt v Ukraini<\/em> [Audit in Ukraine].<\/em> Kyiv: DP \u201cInform- analit. ahenstvo\u201d [in Ukrainian].<\/li>\n
  10. Robertson, (1993). Audyt<\/em>. Moscow: KRMO, \u00abKontakt\u00bb [in Russ.].<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 14 March 2020<\/p>\n

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    Honcharuk, S., Pryimak, S. & Shot, A. (2020). Methodological Approaches for the Improvement of the Quality of Financial Statement Audit. Modern Economics, 20(2020), 53-59. DOI: https:\/\/doi.org\/10.31521\/modecon.V20(2020)-09.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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    [vc_row][vc_column][vc_column_text] JEL Classification: M42 DOI: https:\/\/doi.org\/10.31521\/modecon.V20(2020)-09 [\/vc_column_text][vc_column_text] Honcharuk Svitlana\u00a0, Candidate of Economic Sciences, Associate Professor, Docent, Department of Accounting, Analysis and Control, Faculty of Financial Management and Business, Ivan Franko Lviv National University ORCID ID: 0000-0002-3666-906X e-mail: yvgoncharuk@i.ua Pryimak Svitlana\u00a0, Candidate of Economic Sciences, Associate Professor, Docent, Department of Accounting, Analysis and Control, Faculty of
    Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":13475,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[130],"tags":[131],"class_list":["post-13585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-20-2020","tag-20-2020"],"_links":{"self":[{"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/posts\/13585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/comments?post=13585"}],"version-history":[{"count":0,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/posts\/13585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/media\/13475"}],"wp:attachment":[{"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/media?parent=13585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/categories?post=13585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/tags?post=13585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}