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 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 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.

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.

scholarly journals Issues related to the regulation of the content of the audit reports

2021 ◽  
pp. 77-89
Author(s):  
Irina V. Panina
Keyword(s):  
Public Interest ◽  
Financial Statements ◽  
Information Value ◽  
Public Utility ◽  
International Standards ◽  
Federal State ◽  
State Control ◽  
Federal Law ◽  
Audit Reports ◽  
Laws And Regulations

Introduction. Currently, the procedure for providing audit services to public interest entities is being reformed. The main goal of these reforms is to provide more effective protection of legally protected values associated with the activities of such economic entities. The changes also apply to the content of audit reports on their financial statements. The process of revising the relevant regulatory document is still ongoing. Not all of the revised provisions are consistent with each other and the International Standards on Auditing. This will complicate their practical application by auditors and affect the informational value and public utility of audit reports. In addition, since 2017, when the modern format for audit reports was adopted, its application has revealed shortcomings in terms of its content and terminology. This explains the need to develop proposals to eliminate these “sticking points” when regulating the content of the auditor's report. Purpose. The development of recommendations to harmonise the provisions of laws and regulations governing the content of audit reports and federal state control (supervision) of the activities of audit organisations providing services to public interest entities with the International Auditing Standards in order to increase the information value of audit reports. Methods. The research results were obtained using analysis, synthesis, analogy, historical and logical approaches, classification, etc. Results. It was proposed to introduce changes to the text of the Federal Law “On Auditing Activities” of 30.12.2008 No. 307-FZ in order to eliminate contradictions in its provisions regarding the content of audit reports, to ensure their consistency with the International Standards on Auditing and laws and regulations in the field of controlling the activities of audit organisations that provide audit services to public interest entities. The content of the requirements of the International Standards on Auditing regarding the content of audit reports was clarified as well as their official translation into Russian to make the documents more informative and easy to use. Conclusions. The proposed clarifications can be taken into account when making changes to the texts of the Federal Law “On Auditing Activities”, the original version of the International Standards on Auditing and its official translation. They can also be further discussed by specialists.

scholarly journals Compliance of Lebanese Pickling Industry with Lebanese and International Standards

2020 ◽  
Vol 8 (7) ◽  
pp. 1559-1563
Author(s):  
Sami Tlais ◽  
Hayat Omairi ◽  
Ali Al Khatib ◽  
Hassan HajjHussein
Keyword(s):  
European Union ◽  
Consumer Protection ◽  
New Products ◽  
International Standards ◽  
The European Union ◽  
Alert System ◽  
News Reporting ◽  
The Public ◽  
Food And Feed ◽  
Rapid Alert System

In light of recent news reporting the use of banned colorants in Lebanese-made pickled turnips exported to the European Union (EU) by the Rapid Alert System of Food and Feed (RASFF), The Lebanese Consumer Protection Association tested samples of pickled turnips being sold to the public and confirmed the use of rhodamine B. Many products were pulled off the market and were replaced with new products that were supposed to be free of any banned colorants. We selected 5 different brands of pickled turnips and tested them for pH, salinity, nitrites, and colorants. We tested the salinity using two methods: evaporation and titration. The concentration of nitrites was tested by absorbency method. The presence of colorants was determined using TLC and absorbency method. We determined that the newly released pickled turnips comply with the rules and regulations adopted by the Lebanese Standards Institution (LIBNOR) and the international standards according to the Codex Alimentarius.

scholarly journals Explaining the European Union’s Changing Position towards the Gibraltar Question after the Brexit Referendum

2017 ◽  
Vol 8 (4-1) ◽  
pp. 21-30
Author(s):  
Uğur Burç Yıldız İ ◽  
Anıl Çamyamaç
Keyword(s):  
European Union ◽  
Foreign Policy ◽  
Political Parties ◽  
International Law ◽  
Social Constructivism ◽  
The European Union ◽  
Member States ◽  
Policy Choices ◽  
Near Future ◽  
First Time

Abstract Having previously remained impartial on the Gibraltar question between Spain and Britain since both were member states, the European Union suddenly changed its position after the Brexit referendum in favor of the Spanish government at the expense of breaching international law. In doing so, the European Union, for the first time, created a foreign policy on the long-standing Gibraltar question. This article explores the reasons behind the creation of this foreign policy in support of Spain. The European Union feared that the idea of Euroscepticism may escalate among remaining member states after the Brexit referendum because of wide-spread claims that it would dissolve in the near future, fuelled by farright political parties. The European Union therefore created a foreign policy regarding Gibraltar in Spain’s favor in order to promote a “sense of community” for thwarting a further rise in Euroscepticism. While making its analysis, the article applies the assumption of social constructivism that ideas shape interests, which then determine the foreign policy choices of actors.

Unmaking Democratic Europe

2020 ◽  
pp. 294-312
Author(s):  
Martin Conway
Keyword(s):  
Twentieth Century ◽  
European Union ◽  
Large Degree ◽  
Global Capitalism ◽  
The Other ◽  
Democratic Politics ◽  
The European Union ◽  
Institutional Structures ◽  
Post War ◽  
First Time

This concluding chapter describes how the Europe of the 1990s was for the first time in its history both united and democratic. But the sudden turning point of 1989 lacked something of the global significance of the other European post-war moments of the twentieth century in 1918 and 1945. Europe no longer stood at the centre of its own history, as demonstrated by the ineffective response of the European Union to the violent disintegration of Yugoslavia during the 1990s, and by the divisions that emerged among European states during the American-led wars in Iraq and Afghanistan. In economic terms, too, the ascendancy of a new global capitalism obliged Europe to accept the economic weather generated by more distant or universal forces. In addition, however, Europe had lost confidence in the democratic model that it had developed and, to a large degree, patented. The more fractured and fluid politics that had emerged in Europe by the end of the twentieth century might be more appropriately described as post-democracy: a politics still conducted through the language and institutional structures of democracy, but which lacked much of the former substance of democratic politics.

scholarly journals Co-Circulation of West Nile and Usutu Flaviviruses in Mosquitoes in Slovakia, 2018

Viruses ◽  
2019 ◽  
Vol 11 (7) ◽  
pp. 639 ◽  
Author(s):  
Viktória Čabanová ◽  
Silvie Šikutová ◽  
Petra Straková ◽  
Oldřich Šebesta ◽  
Bronislava Vichová ◽  
...  
Keyword(s):  
European Union ◽  
West Nile Virus ◽  
The European Union ◽  
West Nile ◽  
Usutu Virus ◽  
Pathogenic Viruses ◽  
Lineage 2 ◽  
First Time

Monitoring West Nile virus (WNV) and Usutu virus (USUV) activity now has the highest priority among mosquito-borne pathogenic viruses circulating in the European Union. This study documents a first time detection and the co-circulation of WNV lineage-2 (with the minimal prevalence of 0.46%) and USUV clade Europe 2 (with the minimal prevalence of 0.25%) in mosquitoes from the same habitat of south-western Slovakia and underlines necessity to perform rigorous surveillance in birds, mosquitoes, horses and humans in that country.

Case C-233/18 Zubair Haqbin v. Federaal Agentschap Voor de Opvang van Asielzoekers (C.J.E.U.)

2020 ◽  
Vol 59 (4) ◽  
pp. 694-707
Author(s):  
Justine N. Stefanelli
Keyword(s):  
European Union ◽  
Violent Behavior ◽  
Fundamental Rights ◽  
Preliminary Ruling ◽  
The European Union ◽  
Member States ◽  
Court Of Justice ◽  
First Time ◽  
The Eu

In its preliminary ruling in Haqbin, the Court of Justice of the European Union (CJEU or Court) ruled for the first time on whether the EU Reception Conditions Directive 2013/33 (RCD) prohibits Member States from withdrawing material reception conditions in the event of a breach of the rules of accommodation centers, or in the context of violent behavior within those centers. In holding in the negative, the CJEU affirmed the important role played by fundamental rights in the EU's asylum system.

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