scholarly journals Some issues of improving the effectiveness of the implementation of audit engagements

2021 ◽  
pp. 56-61
Author(s):  
Катерина Леонідівна Ткаченко
Keyword(s):  
Legal Status ◽  
Financial Statements ◽  
Point Of View ◽  
International Standards ◽  
Maximum Efficiency ◽  
Related Services ◽  
Statistical Sample ◽  
State Of Affairs ◽  
Audit Effectiveness

The issue of audit effectiveness is one of the most essential and debating issues that have not been fully resolved at the present time yet. This issue is considered in the context of compliance with «The International Standards for Quality Control, Auditing, Review, Other Assurance and Related Services, 2016–2017». A gradation of quality indicators for the performance of audit assignments is proposed from the point of view of the need to achieve the completeness of the performance of the audit assignment, minimize the costs of its implementation and achieve maximum efficiency. Generalized groups have been identified into which it is advisable to divide the requirements for assessing the effectiveness of the task of auditing financial statements and clearly delineated the need to perform two types of audit confirmations: for compliance with legal requirements and compliance with the real state of affairs at the enterprise. A five-level classification of subjects of control over the effectiveness of the audit assignment has been developed, depending on the legal status. The concept of objects of control is generalized. It is proposed to evaluate the effectiveness of the audit assignment by three methods: an indirect method of comparing various options, an assessment based on the final results, an assessment on the immediate results, and the essence of each method is disclosed. It was determined that one of the significant indicators that affect efficiency is the audit sample and methods for creating a non-statistical sample are proposed. We believe that the implementation of the proposed methods of assessing efficiency in the practice of performing audit tasks will contribute to the formation of high-quality audit practice in Ukraine.

To the Question of the Classification Patterns of Social Stratification in the Countries of the World (Brief Overview of Some Concepts and Author’s Comment)

2020 ◽  
pp. 65-75
Author(s):  
S. N. Smirnov
Keyword(s):  
Social Sciences ◽  
Social Stratification ◽  
Legal Status ◽  
Scientific Literature ◽  
Point Of View ◽  
The World

The author considers the problems of typification of society. Some concepts of typification of social stratification models in different countries formulated and justified in historical and legal, historical, sociological, and economic scientific literature are reviewed. The circumstances that make it difficult to formulate universal concepts designed for application in the complex of social Sciences are identified. These circumstances include insufficient consideration of legal factors, including the position of the legislator, the specifics of the corporate legal status, and the characteristics of the mechanism for changing individual legal status. The author offers a variant of classification of society types from the point of view of legal registration of their structure. The possibility of distinguishing types such as consolidated companies and segmented companies is justified.

Assurance Engagements and Assurance Engagements Other than Audit or Review of Historical Financial Information: Trends of Introduction in Audit Practice and the Development of Standardization Processes

2021 ◽  
pp. 163-178
Author(s):  
Nataliia Shalimova ◽  
◽  
Iryna Androshchuk ◽  
Keyword(s):  
Historical Context ◽  
Financial Information ◽  
International Standards ◽  
Related Services ◽  
Current Trends ◽  
Depth Analysis ◽  
The Subject ◽  
Further Development ◽  
National Practice

The problem of modern audit development is the trend of using classical approaches to the classification of audit in determining the areas of improvement of organizational and methodological foundations of the engagements in which the subject matter are various objects. Determining the key principles of development of the organization and methods of performing audit services requires an in-depth analysis of the historical development of the audit, determining its further development, taking into account historical landmarks. The aim of the study is to systematize current trends in audit development and assurance engagements, to investigate trends in regulation of assurance engagements as a whole and assurance engagements other than audit or review of historical financial information, to justify the development of national practice of standardization of their implementation. Trends in the development of auditing in the historical context are systematized in accordance with the processes of using the term "assurance engagement". The historical stages of introducing the concept of "assurance engagement" into audit practice are revealed. The trends in the formation of assurance engagements other than audit or review of historical financial information, in International Standards of Quality Control, Auditing, Other Assurance, Related Services are specified. A comparative analysis of the structure of the International Conceptual Framework of Assurance Engagements is presented. A comparative description of the content of International Standards of Assurance Engagements regarding the requirements for the organization and methodology of their fulfilling is proposed. The differences in the development of International Standards of Assurance Engagements from the International Standards on Auditing are specified, the directions and targets for the development of the national system of regulation and standardization of assurance engagements other than audit or review of historical financial information are substantiated.

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 Regulation of International Transportation: Modern Aspects

2019 ◽  
Vol 17 (2) ◽  
pp. 296-305
Author(s):  
O. N. Larin
Keyword(s):  
Economic Security ◽  
The State ◽  
International Standards ◽  
Multimodal Transportation ◽  
Current State ◽  
International Transport ◽  
State Of Affairs ◽  
Key Terms ◽  
Further Development

Platonov, O. I. Multimodal transportation of goods: the state of affairs today and the prospects for implementation. Kiev, 2018, 160 pThe reviewed monograph by O. I. Platonov «Multimodal transportation of goods: the state of affairs today and the prospects for implementation» explores the current state and prospects for further development of international transportation of goods using several modes of transport. The book presents the results of a comparative analysis of the provisions of many interstate, intergovernmental and industry agreements, international standards, regulations, strategies and other governing documents related to organization of multimodal transportation. The author paid special attention to ensuring economic security in multimodal supply chains for foreign trade goods. The appendix contains a brief glossary of key terms and definitions developed by the authorIn the context of the monograph review, a discussion was initiated on the approaches to classification of international transport according to various criteria.

scholarly journals SPECIFIC TYPES OF RELATED PARTIES AND TRANSACTIONS WITH THEM IN INTERNATIONAL STANDARD ON AUDITING 550: IMPACT ON THE ASSESSMENT OF RISK OF MATERIAL MISSTATEMENT AND ESTABLISHING THE ENTITY’S ACCOUNTING POLICY

2020 ◽  
Vol 1 (3) ◽  
pp. 89-95
Author(s):  
Nataliia Shalimova ◽  
Yana Klymenko
Keyword(s):  
Internal Control ◽  
System Analysis ◽  
Financial Statements ◽  
International Standards ◽  
Related Services ◽  
Scientific Methods ◽  
Logical Method ◽  
Management Staff ◽  
The Impact ◽  
Accounting Policy

The purpose of the study is to identify the impact of specific types of related parties, which are allocated in International Standards on Auditing 550 “Related Parties”, not only on the organization of the audit of financial statements in the context of assessing the risk of material misstatement, but also on the organization of accounting in enterprises. To achieve the goal set in the work, a complex of general scientific methods (analysis, synthesis, induction, deduction, abstraction) and methodical techniques (systematization, generalization, review, comparison) based on the provisions of International Standards of Auditing was used. In the study of the essence of related parties transactions and elaboration their classification method of system analysis, logical method, and method of modeling were used. There are three major tasks within the overall responsibility of the auditor while fulfilling such engagement as audit of the financial statements have been determined. It is substantiated that two different phrases (“has a responsibility to perform audit procedures” and “needs to obtain an understanding”) which are used in International Standards on Auditing 550 “Related Parties” requires a separate approach to formation a set of optimal audit procedures. Specific types of related parties based on the International Standards 550 “Related Services” that should be considered when performing audit of financial statements has been identified. Classification of related parties transactions according to their riskiness and connection with the normal course of business into four different types has been elaborated. Two groups of inquiries concerning related parties transactions have been analyzed. It has been proved that making inquiries the auditor should provide as much information as possible in order to avoid misunderstandings, which may lead to difficulties in forming an opinion. It is noted that determining the characteristics of the dominant influence and significant transactions will allow effective communication and cooperation between auditors, management staff and those responsible for governance in formation inquires and answers for them. Using proposed classification in the process of audit of financial statements and in developing regulatory documents for accounting at the entity will allow appropriate assessing of risk of material misstatement and increasing the effectiveness of internal control at the entity. It has been substantiated that the objectives of accounting policy not only in terms of meeting the interests of the company as an entity that prepares financial statements and interacts with related parties, but also in terms of meeting the interests of the entity as a responsible party, interacting with the auditor, that seeks to establish an internal control system that will ensure reducing its own risks.

FEATURES OF ACCOUNTING RECEIVABLES ACCORDING TO NATIONAL AND INTERNATIONAL STANDARDS

2021 ◽  
Vol 1 (21(49)) ◽  
pp. 115-119
Author(s):  
Nataliya Mamontova ◽  
Tetyana Korniychuk
Keyword(s):  
Financial Reporting ◽  
Financial Stability ◽  
Financial Statements ◽  
The United States ◽  
International Standards ◽  
Absolute Amount ◽  
Important Place ◽  
Financial Reporting Standards ◽  
Foreign Countries

The article highlights the features of accounting receivables at the enterprise based on a comparison of national and international standards. The authors identified conceptual problems in accounting receivables and clearly outlined the differences between national and international accounting standards. An explanation of the differences in the standards themselves as the basic regulations governing the reflection of receivables in accounting. The experience of foreign countries, in particular the United States, on the peculiarities of accounting receivables is also reflected. The concept of bad receivables and its reflection in national and international standards is defined separately. An important role is played by the classification of receivables for accounting and reporting purposes. The authors identified possible threats in case of non-compliance with the rules of classification of receivables and risks to the financial stability of enterprises. An important place in the article belongs to the question of the relationship between the concepts of bad receivables and receivables to be written off, i.e. the statute of limitations has expired. It should be noted that International Financial Reporting Standards do not have an interpretation of the concept of "Accounts receivable", as defined in the Ukrainian accounting legislation. This becomes a contradictory point in the preparation of financial statements according to international standards. That is why the authors propose to apply a specific classification of receivables depending on the maturity in order to simplify the preparation of financial statements. Also the accrual of the provision for doubtful debts and the choice of the method of its calculation in accordance with national provisions (standards) of accounting and financial reporting is important. Proper and timely calculation of the doubtful debts provision gives companies the opportunity to reduce the base of income tax. Most Ukrainian companies choose the "absolute amount" method, which is a simpler and more realistic option if there are not many overdue debts. The authors also suggest options for improving the accounting of receivables in accordance with national and international standards.

The Importance of the Classification of Securities for Determining their Legal Status under the Legislation of the Republic of Kazakhstan

2020 ◽  
Vol 3 (57) ◽  
Author(s):  
Lola Tatarinova
Keyword(s):  
Legal Status ◽  
Legal Regulation ◽  
Point Of View ◽  
Securities Market ◽  
Legal Analysis ◽  
National Legislation ◽  
The Republic ◽  
Legal Security ◽  
Market Relations

Legal regulation of the international financial system in General and the securities market in particular is a problem that has a certain degree of importance and timeliness due to its determining influence on the world economy. Therefore, the analysis of existing approaches to the classification of securities, which is the subject of this article, is an important component of the Institute of legal security of securities. In this article, the author attempted to analyze the number of financial instruments that are recognized as securities in accordance with the current civil legislation of the Republic of Kazakhstan. Given their considerable number, the question of their classification arises. To achieve the goals of the study, the author widely used comparative legal analysis, which allowed us to identify the main differences and characteristics inherent in certain securities, according to the legislation of Kazakhstan. The analysis carried out in this article is aimed at identifying the main classification features of securities, on the basis of which their legal status is determined under the national legislation of the Republic of Kazakhstan. The main conclusions are concentrated on the table, the data of which are confirmed by both doctrinal sources and normative-legal ones. A comprehensive study of the classification of securities will make it possible to better understand the main directions for determining the legal status of a particular security, which will solve many contradictions of modern legal regulation, which is characterized by incompleteness and the presence of extensive "gray" zones. Also, the conclusion on the classification of securities from the point of view of the national legislation of the Republic of Kazakhstan will allow for comprehensive legal regulation of the needs of participants in civil turnover. The novelty is determined by the fact that the data obtained as a result of the study can give an impetus to the further development of market relations in the country by restoring a number of forgotten legal instruments used in the securities market.

RHYNCHOLITES AND THE PROBLEM OF NARROW AND BROAD CONCEPTION OF TAXONS

2018 ◽  
pp. 12-17 ◽  
Author(s):  
I. R. Khuzina ◽  
V. N. Komarov
Keyword(s):  
Sexual Dimorphism ◽  
Morphological Characteristics ◽  
Mass Scale ◽  
Individual Variability ◽  
Point Of View ◽  
The Other ◽  
New Taxon ◽  
Artificial System ◽  
Broad Understanding

The paper considers a point of view, based on the conception of the broad understanding of taxons. According to this point of view, rhyncholites of the subgenus Dentatobeccus and Microbeccus are accepted to be synonymous with the genus Rhynchoteuthis, and subgenus Romanovichella is considered to be synonymous with the genus Palaeoteuthis. The criteria, exercising influence on the different approaches to the classification of rhyncholites, have been analyzed (such as age and individual variability, sexual dimorphism, pathological and teratological features, degree of disintegration of material), underestimation of which can lead to inaccuracy. Divestment of the subgenuses Dentatobeccus, Microbeccus and Romanovichella, possessing very bright morphological characteristics, to have an independent status and denomination to their synonyms, has been noted to be unjustified. An artificial system (any suggested variant) with all its minuses is a single probable system for rhyncholites. The main criteria, minimizing its negative sides and proving the separation of the new taxon, is an available mass-scale material. The narrow understanding of the genus, used in sensible limits, has been underlined to simplify the problem of the passing the view about the genus to the other investigators and recognition of rhyncholites for the practical tasks.

LEGAL, MORAL AND ETHICAL SIDE OF THE OFFENSE, DISCREDITING HONOR EMPLOYEE THE PENAL SYSTEM

2020 ◽  
Vol 10 (2) ◽  
pp. 213-218
Author(s):  
OKSANA KOCHKINA ◽  
◽  
OLGA MARCHUK ◽  
Keyword(s):  
Point Of View ◽  
Professional Activity ◽  
Penal System ◽  
Moral Norms ◽  
Ethical Aspects ◽  
Self Assessment ◽  
Personal Qualities ◽  
Executive System ◽  
Correction System

The article examines the legal and moral and ethical aspects of a misdemeanor that discredits the honor of an employee of the criminal Executive system. The considered reason for dismissal has the main feature associated with the integration of legal and moral norms, which often raises a lot of questions about the attribution of a particular offense to this basis. Using the analysis of normative legal acts, the authors attempt to identify the signs that contribute to the separation of the studied grounds for dismissal from all their diversity. The classification of offenses that discredit the honor of an employee of the criminal Executive system is presented, which allows to systematize and organize the knowledge obtained about the considered grounds for dismissal. The analysis of a misdemeanor that defames the honor of an employee of the penal system from a moral and ethical position gives an understanding, first of all, that it does not have a clear regulation from the point of view of the law, but the consequences of committing such a misdemeanor are clearly legal. The concepts of “honor” and “dignity” are considered as ethical categories and are analyzed as personal qualities that are manifested in an employee of the penal correction system during the period of service. These categories in the behavior of a person or employee are manifested both externally (assessment from the outside) and internally (self-assessment). The article describes the value orientation of an employee of the criminal Executive system to ethical standards in professional activity, which is an integral part of the moral and ethical side of a misdemeanor that discredits the honor of an employee.

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.

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