scholarly journals Audit development in Ukraine: aspects of regulation of audit activity

2021 ◽  
Vol 13 (2) ◽  
Author(s):  
T. Stupnytska ◽  
N. Kuprina ◽  
Н. Tkachuk ◽  
Kh. Baraniuk
Keyword(s):  
European Union ◽  
Regulatory System ◽  
Financial Statements ◽  
Legal Regulation ◽  
International Standards ◽  
The European Union ◽  
National Audit ◽  
Related Services ◽  
Audit System ◽  
Audit Activity

Auditing in Ukraine is on the path of formation and development, which necessitates the improvement and revision of regulations, which, in turn, leads to an increase in both theoretical and practical aspectsof audit and audit activity. Modern conditions of the process of Ukraine's integration into the European spacecause the regulatory framework to be adapted to the legislation of the European Union. During the period ofoperation, the national audit system in Ukraine is constantly improving. The article analyzes the normativedocuments and publications of scientists to determine aspects of regulatory regulation of audit in Ukraine inconnection with its integration and the possibility of adapting existing legislation to the legislation of the European Union. The analysis showed that the audit regulatory system in Ukraine is multilevel, but the maindocuments governing audit in the country are the Law "On Audit of Financial Statements and Audit activity"and International Standards for Quality Control, Auditing, Review, Other Assurance and Related Services .The levels of normative-legal regulation of audit and the main differences in the structure of normative actsregulating the implementation of audit and audit activities in Ukraine have been considered.

scholarly journals Actual Issues of Forensic Activities in Ukraine and the Possibility of Implementing International Standards of the Industry in the Ukrainian Legislation

2021 ◽  
Vol 10 (2) ◽  
Author(s):  
Lidiya Kotlyarenko ◽  
◽  
Nataliia Pavlovska ◽  
Eugenia Svoboda ◽  
Anatolii Symchuk ◽  
...  
Keyword(s):  
European Union ◽  
Human Rights ◽  
Legal Regulation ◽  
International Standards ◽  
European Convention ◽  
European Law ◽  
The European Union ◽  
Council Of Europe ◽  
Legal Standard ◽  
The Eu

International standards exist in any field of legal regulation however, they are mostly identified with standards that regulate the technical sphere, since they are the most common ones. Nonetheless, today it is hard to imagine any area of public life withno generally recognized international standards. European legal standards are formed within the framework of the two most regional international associations –the Council of Europe and the European Union. The Council of Europe sets, first of all, standards in the humanitarian sphere: human rights, environment protection, and constitutional law, which is determined by the goals and purpose of its functioning. The European Union (hereinafter referred to as the EU) using directives, regulations, and other legal acts sets standards for most areas of the EU population's life. It should be noted it is during the development of 'standardization' in the European law that specific development of public relations in the EU takes place. Defining the EU legal standardas a separate category of norms of the European law, it is noteworthy that this term is used in a broad sense as a 'legal standard' and incorporates such elements as the general principles of the EU law and the 'common values' of the EU –they relate to people, environment, economic issues, and so on. The European Convention for the Protection of Human Rights and Fundamental Freedoms 1950 is a classic example of their implementation. In a narrow sense, this term has a specific meaning and does not coincidewith the concept of 'legal standard', e.g. these are standards in the technical field that are adopted by the European Committee for Standardization, that is, in its content, it is a technical publication that is used as a norm, rule, guide or definition.Therefore, they relate to products, services, or systems and are the basis for convergence and interaction within the growing market of various business sectors. Today, in international law de facto there is a system of standards that regulate various aspects of international relations.

Abolition of the Commercial Code of Ukraine: Potential Consequences and Necessary Prerequisites

2020 ◽  
Vol 27 (1) ◽  
pp. 100-131
Author(s):  
Natalia Kuznetsova ◽  
Oleksii Kot ◽  
Andrii Hryniak ◽  
Mariana Pleniuk
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Legal Regulation ◽  
Civil Code ◽  
International Standards ◽  
The European Union ◽  
Commercial Code ◽  
Regulatory Impact ◽  
Further Development ◽  
The Eu

The paper analyses the provisions of the Commercial Code of Ukraine, comparing them with certain provisions of the Civil Code of Ukraine and separate laws and other regulations. Considering the need to align Ukrainian legislation with the legislation of the European Union countries in legislation regarding the establishment and operation of partnerships, corporate governance, protection of shareholders, creditors and other interested parties, regarding the further development of corporate governance policy in accordance with international standards, including the gradual approximation to the rules and recommendations of the European Union in this area, it is concluded that it is advisable to abolish the Commercial Code of Ukraine by adopting the relevant law, which stipulates all necessary measures to ensure proper legal regulation of relations for the period of preparation of the relevant systemic changes to the Civil Code of Ukraine. It is proved that most of the provisions of the Civil Code of Ukraine are reference or blanket, and therefore have minimal regulatory impact and mostly duplicate the provisions enshrined in other regulations. Based on the analysis of the provisions of the Commercial Code of Ukraine, it is concluded that its provisions, given their minimal regulatory impact on business relations and considering the detailed regulation of these relations in the Civil Code of Ukraine, can be repealed without any reservations. In such settings and in order to simplify the legal regulation of business activity, as well as in view of the obligations of our country (in particular, to bring the Ukrainian legislation in conformity with the legislation of the EU countries in legislation regarding the establishment and activity of partnerships, corporate governance, protection of rights of shareholders, creditors, and other stakeholders, regarding further development of corporate governance policy in line with international standards, as well as the progressive approximation to EU rules and recommendations in this area), the expediency of abolishing the Commercial Code of Ukraine is beyond doubt

scholarly journals The Comparability of Audit Reports Issued In the European Union: An Empirical Study Based On Separate and Consolidated Financial Data

2012 ◽  
Vol 2 (2) ◽  
pp. 386
Author(s):  
Mondher Fakhfakh
Keyword(s):  
European Union ◽  
Financial Statements ◽  
International Standards ◽  
Financial Data ◽  
Statistical Techniques ◽  
The European Union ◽  
Audit Reports ◽  
European Harmonisation ◽  
First Time ◽  
Normative Content

The purpose of this article is to analyse the degree of European harmonisation of audit reports. This analysis refers to the international auditing standards that have been formally adopted in Europe.In this article we analysed the wording of audit reports issued in the European union. This analysis is accompanied by tests that verify the assumptions of homogeneity and comparability of European reports. The interpretation of results is assisted by several statistical techniques including univariate and multivariate tests.The results show that the objective of the European harmonisation of audit reports is not fully realised. Despite the wealth of information in some reports, European auditors do not always conform to the International Standard on Auditing ISA 700.This paper includes an empirical analysis on the normative content of audit reports Europe. This analysis refers to international standards that support the performance of audit reports in Europe. In addition to information on the separate financial statements, this article considers, for the first time, the consolidated reports. The author discusses and tests the hypothesis of European harmonisation of audit reports.

scholarly journals Sources of information for financial analysis

2021 ◽  
pp. 17-22
Author(s):  
Antoni Alfonz Denes
Keyword(s):  
European Union ◽  
Financial Analysis ◽  
Balance Sheet ◽  
Financial Statements ◽  
International Standards ◽  
Stable Operation ◽  
The European Union ◽  
Sources Of Information ◽  
Additional Information ◽  
The Future

The article is devoted to financial analysis as a tool for business development and forecasting the future plan for its stable operation. The types of financial analysis, users, groups of financial statements by type of information are also considered, the structure of the balance sheet is considered. The article is based on the materials of international standards used in the countries of the European Union. The article is intended to be informative for researchers from countries outside the European Union. Financial analysis can be characterized as a systematic tool for monitoring the financial condition of the company on the base of the analysis of information that are primarily to find in the financial statements of the company. However, financial analysis is not only a sort of statistical assessment of the current situation, but it is also reflective of the past management and to some extent it can also predict the future financial conditions. In business sphere, where due to the economic environment many unexpected changes occur, financial analysis represents for many a very useful, for others absolutely vital instrument to regulate corporate planning, to which the finances are obviously inseparably connected. Whoever creates the financial analysis (be it of one’s own business or e.g. of potential business partners) acquires additional information and thus also a certain amount of benefits with it.

AUDIT SERVICES MARKET IN UKRAINE

2021 ◽  
Vol 40 (4) ◽  
pp. 4-15
Author(s):  
NAZAROVA Karina ◽  
NEHODENKO Viktoriia ◽  
MINIAILO Viktoriia
Keyword(s):  
Open Economy ◽  
Legal Regulation ◽  
The State ◽  
Optimal Method ◽  
Related Services ◽  
Global Trends ◽  
Audit System ◽  
Imperfect System ◽  
Audit Activity ◽  
Audit Services Market

Background. Trends in the open economy, the processes of information globa­lization require the search for new effective tools of trust of the state, public oversight bodies, investors, the public and other professional and non-professional users of infor­mation to business. This tool is an independent external audit: it helps to identify defi­ciencies in the activities of the entity, to identifyways to correct them, as well as to deve­lop preventive measures to avoid them. Analysis of recent research and publications has shown that the state of audit activity in Ukraine does not fully meet today’s requirements, an important scientific and practical problem of the development of the audit services market and quality control of audit services in Ukraine remains unresolved. The aim of the article is to analyze the market of audit services in Ukraine and assess potential ways of further development of auditing. Materials and methods. The theoretical and methodological basis of the publication is a set of studies of domestic and foreign scientists. General scientific and special methods of scientific cognition are used: comparative, systematic and statistical analysis to clarify the cause-and-effect relationship and assess the market of audit services in Ukraine. Results. A study of the audit services market in Ukraine was conducted, the dyna­mics of the number of audit entities (SAА) and the dynamics of the volume of pro­vision of a number of audit services were analyzed. The information on the composition and number of audit entities is summarized, as well as the volume of provided audit services in terms of regions of Ukraine is studied. The problems of audit activity development are outlined, the main ones of which are insufficient normative provision, imperfect system of digitalization of audit procedures, etc. Conclusion. In recent years, the conditions and quality of the audit services mar­ket in Ukraine have changed radically, primarily due to the implantation of foreign expe­rience in the national audit system, expanding the possibility of diversification of profes­sional audit services, as well as the digitalization of auditing. This opens up new opportunities both for the auditors and audit firms themselves and for the customers of their services. In addition, various additional audit and related services have become widespread. To increase the competitiveness of Ukrainian audit companies it is necessary to take into account global trends, foreign experience and modern technologies of custo­mer service, which requires: improving the legal regulation of auditing in Ukraine; impro­ving the methodology and organization of audits; development of the optimal method of determining the cost of audit services.

Euratom and Brexit: Could the United Kingdom Maintain One Foot in the European Union? Current Scenarios and Future Prospects of British withdrawal from the EAEC

2018 ◽  
Vol 18 (2) ◽  
pp. 134-151
Author(s):  
Andrea Circolo ◽  
Ondrej Hamuľák
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Independent Solution ◽  
Legal Regulation ◽  
The European Union ◽  
The United Kingdom ◽  
The Status ◽  
Long Time ◽  
Energy Community ◽  
The Impact

Abstract The paper focuses on the very topical issue of conclusion of the membership of the State, namely the United Kingdom, in European integration structures. The ques­tion of termination of membership in European Communities and European Union has not been tackled for a long time in the sources of European law. With the adop­tion of the Treaty of Lisbon (2009), the institute of 'unilateral' withdrawal was intro­duced. It´s worth to say that exit clause was intended as symbolic in its nature, in fact underlining the status of Member States as sovereign entities. That is why this institute is very general and the legal regulation of the exercise of withdrawal contains many gaps. One of them is a question of absolute or relative nature of exiting from integration structures. Today’s “exit clause” (Art. 50 of Treaty on European Union) regulates only the termination of membership in the European Union and is silent on the impact of such a step on membership in the European Atomic Energy Community. The presented paper offers an analysis of different variations of the interpretation and solution of the problem. It´s based on the independent solution thesis and therefore rejects an automa­tism approach. The paper and topic is important and original especially because in the multitude of scholarly writings devoted to Brexit questions, vast majority of them deals with institutional questions, the interpretation of Art. 50 of Treaty on European Union; the constitutional matters at national UK level; future relation between EU and UK and political bargaining behind such as all that. The question of impact on withdrawal on Euratom membership is somehow underrepresented. Present paper attempts to fill this gap and accelerate the scholarly debate on this matter globally, because all consequences of Brexit already have and will definitely give rise to more world-wide effects.

IFRS IMPLEMENTATION AS ONE OF THE FACTORS FOR IMPROVING THE INVESTMENT CLIMATE IN UKRAINE

2017 ◽  
Author(s):  
Kateryna Sova ◽  
◽  
Natalia Yatsenko ◽  
Denys Zagirniak ◽  
◽  
...  
Keyword(s):  
Financial Reporting ◽  
Direct Investment ◽  
Financial Statements ◽  
International Standards ◽  
Investment Climate ◽  
The European Union ◽  
Economic Activities ◽  
Financial Reporting Standards ◽  
Almost All ◽  
The Impact

The article is devoted to the study of the impact of the introduction of International Financial Reporting Standards (IFRS) on changes in the investment climate in Ukraine. The relevance of the topic is that improving the practice of applying IFRS as a tool for exchanging financial information is one of the key conditions for improving the investment climate in Ukraine. The authors have created the generalized scheme that illustrates the chronological list of enterprises that are required by law to prepare financial statements in accordance with IFRS. It was noted that in 2018, in accordance with Part 2 of Article 12 of the law on accounting and financial reporting in Ukraine and resolution of the Cabinet of Ministers of Ukraine No. 547 from 11.07.2018, the criteria of enterprises that are required to prepare financial statements in accordance with IFRS were updated. This step significantly increased the level of application of international standards due to the adoption of such a decision at the legislative level. The dynamics of the number of IFRS enterprises in Ukraine was analyzed. The analysis showed that over the past three years, the number of almost all enterprises that must apply international standards has been growing. The advantages of using IFRS for different users of financial statements were determined. It was determined that the priority users of IFRS financial statements are investors. At the same time, it was noted that the main advantage for other users of financial statements prepared in accordance with international standards is the improvement of the investment climate. The dynamics of the Investment Attractiveness Index of Ukraine based on the Likert scale in the period from 2016 to 2020 was analyzed. The direct investment receipts to Ukraine from the European Union countries were studied. The dynamics of direct investment in the Ukrainian economy was analyzed for two types of economic activities that should form financial statements in accordance with IFRS, namely, the extractive industry and quarrying, as well as financial and insurance activities.

REGULATORY AND LEGAL SUPPORT OF INFORMATION SECURITY IN UKRAINE

2017 ◽  
Author(s):  
Oleksandr Malashko ◽  
◽  
Serhii Yesimov ◽  
Keyword(s):  
European Union ◽  
Information Security ◽  
National Security ◽  
Legal Regulation ◽  
The European Union ◽  
Basic Principles ◽  
Association Agreement ◽  
Legal Information ◽  
Current Information ◽  
Initial Stage

The article examines trends in the development of legal regulation of information security in Ukraine in the context of the implementation of the Association Agreement between Ukraine and the European Union. The current information legislation and regulations on information security are analyzed. The tendencies in the legal regulation of information security that took place at the initial stage of the formation of information legislation are revealed. Based on the factors that took place before the adoption of the Doctrine of information security of Ukraine, the laws of Ukraine “On the basic principles of ensuring the cybersecurity of Ukraine”, “On the national security of Ukraine”, in the context of the current legislation, based on the methodology of legal forecasting, it is concluded that in the future the development of normative legal information security will be developed on the basis of by-laws, mainly at the departmental level.

scholarly journals International legal experience in combating illegal migration by sea

2021 ◽  
Vol 66 ◽  
pp. 284-287
Author(s):  
O.O. Kukshynova ◽  
A. O. Samoilenko
Keyword(s):  
European Union ◽  
Legal Framework ◽  
Legal Regulation ◽  
European Countries ◽  
The European Union ◽  
Illegal Migration ◽  
Illegal Migrants ◽  
Theoretical Approaches ◽  
The Impact ◽  
Treaty Of Amsterdam

This article highlights the impact of international law on the global process of illegal migration, reveals a number of international problems related to international migration, in particular by sea, identifies the main factors influencing illegal migration in general, indicates the state of illegal migration in various European Union countries. attention is paid to such important international legal instruments as the Schengen Agreement of 1985 and 1990, the Dublin Convention of 1990, the Maastricht Treaty of 1992 and the Treaty of Amsterdam of 1997. The article also focuses on the European Union agency, which deals with the protection of external borders and their protection from illegal migrants, in particular, by sea.The analysis of theoretical and practical aspects of combating illegal migration by sea at the international level, as well as in the development of scientific and theoretical approaches to solving migration problems, characterizes the legal regulation of combating illegal migration by maritime transport and maritime participation established intergovernmental bodies. The main tools of the European Union to combat illegal migration by sea, which can be used to improve the legal regulation of migration authorities of other countries, as well as substantiate the organizational and legal framework of European countries in the field of legal support to combat illegal migration by sea.The actions of European states represented by the relevant state bodies in solving the problems of illegal migration with the help of merchant fleets of European countries are studied. The article pays attention to the influence of illegal migration on the formation and change of legal awareness of society, as the beginning of the formation of criminogenic factors among illegal migrants in the host country.

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