scholarly journals The concept of public audit in accordance with INTOSAI professional statements (IFPP)

2020 ◽  
Vol 4 (3) ◽  
pp. 42-48
Author(s):  
Iryna Drozd ◽  
Mariia Pysmenna
Keyword(s):  
International Standards ◽  
Practical Implementation ◽  
Strategic Objectives ◽  
World State ◽  
State Audit ◽  
Financial Audit ◽  
Compliance Audit ◽  
New Type ◽  
Principles And Standards ◽  
High Level

Introduction. The article is devoted to the study of improving the types of public audit in accordance with the strategic objectives set by the international organization of supreme audit institutions INTOSAI, which has adopted standards of public audit in the form of professional statements IFPP. Aim and tasks. The purpose of the article is a theoretical and methodological justification of the process of formation and development of public audit in accordance with new conceptual approaches, formed in accordance with the professional statements of INTOSAI (IFPP), practical recommendations for their practical implementation in Ukraine. Results. It is established that the problem of state audit in terms of its varieties – performance audit, financial audit, which are regulated by the legislation of Ukraine, is one of the most important prerequisites for ensuring public requests for reliable and transparent information on the use of budget funds. However, as the study showed, insufficient attention was paid by the control bodies, in particular, to the audit of the legislative compliance of the actions of budget managers by the Accounting Chamber. It is proposed within the strategies of ISSAI state audit standards to introduce in Ukraine compliance audit as a type of state audit, which is provided by IFPP professional statements. The expected results of such implementation will allow to increase financial and executive discipline and to prevent illegal spending of budgetary funds. Conclusions. In the practice of world state audit, a certain structure of types of state audit has been developed, which meets the demands of society and parliaments of the countries regarding the legality, efficiency and reliability of budget spending. The introduction of INTOSAI international standards aims to increase confidence in the state audit, ensures its comprehensive and comprehensive nature, implements effective and efficient professional principles and standards in the practice of domestic specialists. Improving the methodology of public audit generally meets the requirements of ensuring a high level of efficiency of the highest bodies of financial control in the interests of the development of a democratic society. Therefore, the introduction of all types of public audit in accordance with ISSAI standards meets the expectations of society and best international practice. Further developments should reveal the features of the implementation of a new type of state audit – compliance audit in terms of domestic and foreign methods and procedures for performing control actions.

scholarly journals STANDARDIZATION OF PUBLIC AUDIT OF PUBLIC PROCUREMENT IN UKRAINE THROUGH THE INTRODUCTION OF COMPLIANCE AUDITS

2020 ◽  
pp. 156-174
Author(s):  
Nataliya ZDYRKO
Keyword(s):  
Public Procurement ◽  
The State ◽  
International Standards ◽  
The Public ◽  
Electronic Procurement ◽  
State Audit ◽  
Financial Audit ◽  
Compliance Audit ◽  
Audit Standard ◽  
Procurement System

The independent legislative agency of Ukraine according to the international standards ISSAI in private carrying out of the state audit (including the published purchases) is made. It is established that international practice has identified three components of public audit: performance audit, financial audit and compliance audit. The necessity of standardization of the state audit of public procurements through legislative fixing of audit of conformity is proved. The main objects of compliance audit are proposed: the activities of the customer (participant), public resources and the activities of responsible government agencies. Recommended main directions and procedures for compliance audit for each object and by stages of the life cycle of procurement items. Features of the audit of compliance of redistribution by the customer of various receipts for public procurement are considered. Features of audit procedures for different types of public procurement are identified. The recommended procedure and algorithm for auditing the correctness of determining the subject of procurement from the customer. The main mistakes and violations of the participants, which take place during the audit of compliance with public procurement, have been identified. The peculiarities of compliance audit at the stage of public procurement planning, pre-contractual and contractual relations in the electronic procurement system, as well as at the stage of use of procurement items are highlighted. It was emphasized that the responsible body should regulate issues related to the functioning of the electronic information system, platforms and web portal in the field of public procurement. The key elements of the Public Procurement Compliance Audit Standard (purpose, objectives, subject, objects, subjects, stages, methods, principles) are proposed.

scholarly journals Audit of Compliance of Public Procurement: Theoretical and Practical Aspects

2021 ◽  
pp. 90-100
Author(s):  
Nataliya Zdyrko ◽  
Keyword(s):  
Control Function ◽  
Public Procurement ◽  
The State ◽  
International Standards ◽  
Audit Planning ◽  
State Audit ◽  
Compliance Audit ◽  
Internal Sources ◽  
Definition Of ◽  
Procurement System

The purpose of the article is to identify the main elements of the public procurement compliance audit and disclose the practical aspects of its implementation. It was determined that the control function is a priority in the management of public procurement in Ukraine among other functions (planning, organization, accounting, analysis, motivation, regulation). The problem of non-compliance of legislative provision of the state audit with international ISSAI standards due to the lack of compliance audit was identified. The main legislative requirements (general and specific) for conducting the compliance audit were considered. The proposed author's vision of the purpose, tasks, subject, objects and subjects of compliance audit which correlates with international ISSAI standards. The objects of the audit are the activities of the customer (participant) at different stages of the life cycle of procurement items, public resources and the activities of responsible state agencies. The main entities (in accordance with the requirements of international standards) are the state auditor, controlled entity and potential users. The main issues on the directions and objects of compliance audit are detailed. The main issues on the areas and objects of compliance audit were detailed. The stages of compliance audit (planning, carrying out and preparation of reporting documentation) with the definition of control actions at each of them were disclosed. The criteria of legality and validity in the compliance audit (relevance, completeness, reliability, neutrality, clarity, usefulness, compatibility, acceptability, accessibility) were characterized. The internal sources of state audit (including compliance audit) of public procurement at the stage of pre-contractual and contractual procedures in the electronic procurement system, as well as the use of procurement items were described. The methods of state audit of public procurement by the objects of inspection (observation, verification, research, confirmation, analytical procedures) are highlighted.

scholarly journals CHALLENGES TO PROFESSIONAL ETHICS, TRAINING AND CONTINUING EDUCATION OF SPECIALISTS IN THE FIELD OF INDEPENDENT FINANCIAL AUDIT

2019 ◽  
Vol 34 (5) ◽  
pp. 1301-1305
Author(s):  
Maia Iankova Natchkova
Keyword(s):  
Economic Analysis ◽  
Continuing Education ◽  
Professional Ethics ◽  
Ethics Training ◽  
International Standards ◽  
Professional Skepticism ◽  
Legal Standards ◽  
Financial Audit ◽  
The Government ◽  
High Level

Auditor’s profession is extremely necessary and crucial for the society. It has the important and responsible task to observe and assess the proper implementation of the principles, concepts, rules, legal standards and conventions as set out in the International Financial Reporting Standards/ International Accounting Standards, EU directives, International Standards on Auditing and the national (local) accounting legislation. Specialists in the field of independent financial audit – chartered expert accountants, registered auditors, should verify the timely, reliable, objective, correct, accurate and fair presentation, in all material aspects, of the information about the property and financial position of enterprises, their financial performance, and to determine the opportunities for investing and managing the capitals of audited enterprises in the interest of the society. Auditor’s profession is distinguished with moral at high level and professional ethics of chartered expert accountants, registered auditors; with extreme professionalism in the field of independent financial audit; with professional skepticism in the field of accounting and economic analysis; with professional optimism upon undertraining audit engagements; with independence from personal interests and lack of obligation for loyalty to the assigners of audit engagements; with ensuring high quality performance of audit engagements; with professional and intellectual knowledge and skills in the field of accounting, financial audit, economic analysis, micro- and macroeconomics, statistics and finance acquired upon completion of higher education in economics, upon sitting special examinations for obtaining qualification of chartered expert accountants, registered auditors, and upon carrying out constant and continuing education of auditors. For the purposes of keeping the trust of the society in the independent financial audit, registered auditor’s professional ethics needs to be at high level that enables authoritative and competent establishment of the role and significance of auditor’s profession in the society. Independent financial auditors should observe specific standards of conduct and fundamental professional and ethical principles as set out in the Code of Ethics for Professional Accountants, such as honesty, objectivity, professional competence and proper attention, confidentiality, professional conduct, observance of methodological standards and professional skepticism. They should avoid actions that could discredit the auditor’s profession and have negative impact on the good reputation of the registered auditor. Furthermore, where independent financial auditors market and promote themselves or their audit practice, they should avoid giving the society wrong idea of auditor’s profession. The work of chartered expert accountants, registered auditors is diverse and to a great extent characterized by development of the financial risk. Therefore, this study highlights some of the more significant and socially important specific characteristics of the auditor’s profession, which are monitored by the public and by the government authority supervising the work of the registered auditors. Its objective is to present, determine and distinguish the challenges in the light of good world audit practices faced by the professional ethics, training and continuing education of specialists in the field of independent financial audit, thus contributing to the improvement of their qualification and enhancement of their audit practice. This publication may be used for carrying out different types of financial audit – internal audit carried out by the financial enterprises’ internal units; independent financial audit carried out by chartered expert accountants, registered auditors, and external audit carried out by the government supervisory authority and by other government authorities.

scholarly journals Reporting and Follow-Up Recommendations for Performance Audit in Sai in the Republic of Serbia

2020 ◽  
Vol 58 (1) ◽  
pp. 117-129
Author(s):  
Aleksandar Popović
Keyword(s):  
Regulatory Compliance ◽  
The Public ◽  
State Audit ◽  
Financial Audit ◽  
Compliance Audit ◽  
Performance Audit ◽  
Performance Auditing ◽  
The Republic ◽  
Audit Approach

AbstractDevelopment of an integrated audit approach in state auditing enabled, in addition to financial audit and audit of regulatory compliance, audit of the public sector’s entities performance at the same time. Thus performance audit (success, value-for-money) gets primacy within the scope of activity of the supreme audit institutions. The goal of such an activity is to point to the development and importance of auditing effectiveness in the State Audit Institution (SAI) in the Republic of Serbia, emphasising reporting on performance auditing, detected irregularities in the use of budgetary resources and recommendations made to the public sector entities by SAI, as well as following them up for the purpose of more effective management and use of state property and state funds.

scholarly journals Legal Status of the Accounting Chamber of Ukraine: Current State and Perspectives of Development

2021 ◽  
Vol 81 (2) ◽  
pp. 130-135
Author(s):  
L. V. Borets ◽  
Ya. O. Arbych
Keyword(s):  
Legal Status ◽  
Legal Regulation ◽  
International Standards ◽  
State Agency ◽  
Financial Control ◽  
Control Functions ◽  
The Status ◽  
Financial Audit ◽  
The Law ◽  
High Level

The bases of the legal status of the Accounting Chamber have been studied: rights, duties, responsibilities, principles, purpose, functions, place of the Accounting Chamber among other state agencies and their interaction. It has been emphasized that the Accounting Chamber should be assigned the status of the Supreme Audit Institution in order to harmonize the legal definition of the legal status of the Accounting Chamber with international standards, namely the Lima Declaration of Control Guidelines, which should assist in expanding the powers of the state agency and should facilitate the effective realization of control functions. The authors have studied the problem of compliance of the Accounting Chamber with the principle of independence contained in the Constitution of Ukraine and in the Law of Ukraine “On the Accounting Chamber”. The emphasis has been placed on the fact that the legislator identifies the legal categories of “state financial audit” and “state external financial control (audit)” in the Law of Ukraine “On the Accounting Chamber”, by using the phrase “state external financial control (audit)”. It is the basis for authors to emphasize the importance of adopting a regulatory act, which will be designed to distinguish between basic categories (concepts) in the field of public financial control (audit). The need to consolidate the functions of the Accounting Chamber at the legislative level and their delimitation with the powers of a state agency has been substantiated. The need to supplement the title of the Law of Ukraine “On the Accounting Chamber” with the word Ukraine has been emphasized. The shortcomings of the legal regulation of the institution of responsibility of officials of the Accounting Chamber have been highlighted. The emphasis has been placed on the fact that the mechanism for bringing officials of the Accounting Chamber to disciplinary responsibility is not regulated at a high level. The authors have emphasized on the improvement of normative and legal regulation of the special procedure for bringing guilty persons to administrative liability by authorized persons of the Accounting Chamber for violation of the law. Based on the analyzed experience of the Accounting Chamber of France, the authors have suggested the ways to improve the legal status of the Accounting Chamber of Ukraine.

CURRENT STATE OF REGULATION OF INTERNAL FINANCIAL CONTROL AND INTERNAL FINANCIAL AUDIT IN THE BUDGET SECTOR

2020 ◽  
Vol 1 (9) ◽  
pp. 119-124
Author(s):  
D. R. GINIYATULLINA ◽  
◽  
◽  
Keyword(s):  
Internal Control ◽  
Internal Audit ◽  
Regulatory Framework ◽  
International Standards ◽  
Financial Control ◽  
Budget Process ◽  
Federal Law ◽  
Government Sector ◽  
General Government ◽  
Financial Audit

Since 2013, there has been an active transformation of the regulatory framework related to the implementation of international standards of internal audit in Russian practice, which regulates the organization and implementation of internal financial control and internal financial audit in the general government sector. However, the regulatory framework is constantly undergoing changes that are associated with the need to take into account the specifics of the functioning of these organizations. Particular attention is paid to the development of the methodological foundations of internal financial control and audit on the basis of amendments made by the Federal Law of July 26.07.2019, 199-FZ to the Budget Code of the Russian Federation. In particular, internal financial control was removed from the budgetary powers of participants in the budget process. When these changes were implemented, a lot of questions arose, such as the exclusion of internal financial control as a separate budgetary authority means that this type of control can be omitted, journals and internal control cards are not kept.

COMPARATIVE ANALYSIS OF INTERNATIONAL STANDARDS IN THE FIELD OF NON-FINANCIAL REPORTING AND THE PRACTICE OF THEIR APPLICATION

2021 ◽  
Vol 2 (4) ◽  
pp. 146-152
Author(s):  
E. V. ANDRIANOVA ◽  
◽  
P. S. SHCHERBACHENKO ◽  
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Business Environment ◽  
International Standards ◽  
Positive Trend ◽  
Financial Indicators ◽  
Additional Tool ◽  
Foreign Companies ◽  
High Level ◽  
Source Of Information

This article discusses and analyzes the most popular standards of non-financial reporting, which has a significant impact on the transformation of the business environment. Already, domestic and foreign companies with a high level of responsibility are beginning to publish non-financial statements in addition to financial statements, which is an additional tool for communication with stakeholders and a new source of information about their activities. To date, reports of this type are clearly unregulated, there are no verification standards, however, there is already a positive trend and the active introduction of non-financial indicators in the regular reporting of companies.

FUNCTIONAL PURPOSE RABBIT MEAT ROLL

2021 ◽  
pp. 132-139
Author(s):  
Zhuldyz Isakovna Satayeva ◽  
Nurbibi Sovetovna Mashanova ◽  
Ainur Bolatbekovna Nurtayeva ◽  
Erzhan Talgatuly Akimzhanov
Keyword(s):  
Nutritional Value ◽  
Meat Product ◽  
Nutritional Supplements ◽  
Physicochemical Analysis ◽  
Raw Material ◽  
Technological Parameters ◽  
New Type ◽  
Rabbit Meat ◽  
High Level ◽  
Functional Purpose

The article presents the results of the development of a new type of rabbit meat product - meatloaf. The consumption of healthy and nutritious foods rich in macro- and micronutrients, low in lipids and cholesterol, as well as various nutritional supplements, is preferable for the modern consumer. One of the promising types of meat as a dietary raw material is rabbit meat. As a result of the studies, a physicochemical analysis was carried out, the amino acid composition of rabbit meat was determined, and an organoleptic and tasting assessment of rabbit meatloaf was given. The technological scheme, the recipe is developed and the technological parameters of the meatloaf preparation are determined. It is recommended to store meatloaf no more than 10 days at a temperature of 0–2 °C with a humidity of 85-90 %. Meatloaf from rabbit meat has functional properties, contains a large number of vitamins PP – 174.3 mg, potassium minerals – 5052.8 mg, magnesium – 382.4 mg, phosphorus – 2875 mg, sodium – 8598.7 mg.The results of the nutritional and biological value of rabbit meatloaf allow us to make an informed conclusion about the high level of their nutritional value, which clearly illustrates the values of quality indicators.

scholarly journals How to Use Linear Programming for Information System Performances Optimization

2014 ◽  
Vol 5 (3) ◽  
pp. 49-66
Author(s):  
Marko Hell ◽  
Tea Dragičević
Keyword(s):  
Linear Programming ◽  
National Park ◽  
Dynamic Environment ◽  
Optimal Performance ◽  
Quantitative Methodology ◽  
Strategic Objectives ◽  
Strategic Objective ◽  
Business Goals ◽  
High Level

Abstract Background: Organisations nowadays operate in a very dynamic environment, and therefore, their ability of continuously adjusting the strategic plan to the new conditions is a must for achieving their strategic objectives. BSC is a well-known methodology for measuring performances enabling organizations to learn how well they are doing. In this paper, “BSC for IS” will be proposed in order to measure the IS impact on the achievement of organizations’ business goals. Objectives: The objective of this paper is to present the original procedure which is used to enhance the BSC methodology in planning the optimal targets of IS performances value in order to maximize the organization's effectiveness. Methods/Approach: The method used in this paper is the quantitative methodology - linear programming. In the case study, linear programming is used for optimizing organization’s strategic performance. Results: Results are shown on the example of a case study national park. An optimal performance value for the strategic objective has been calculated, as well as an optimal performance value for each DO (derived objective). Results are calculated in Excel, using Solver Add-in. Conclusions: The presentation of methodology through the case study of a national park shows that this methodology, though it requires a high level of formalisation, provides a very transparent performance calculation.

Sign in / Sign up

Export Citation Format

Share Document