Improving the Professional Requirements for Auditors in the Context of Independent Audit Reform in Ukraine

Abstract

The article is aimed at improving the professional requirements for auditors in the context of independent audit reform in Ukraine. The research methodology is based on theoretical generalizations and use of scientific instruments, including comparative analysis and analysis of the provisions of current legislation of Ukraine in the area of independent audit regulation. The research findings and recommendations on the prospects for improving the professional qualities of auditors are presented according to the aggregate measures proposed by the author. The peculiarities of the new auditor certification system, introduced by the law of Ukraine «On audit of financial statements and auditing activity» and detailed in the project of orders of the Ministry of Finance of Ukraine, aimed at fulfilling the requirements of the article 19 of the the law of Ukraine, are studied. As a result of the research, the ways to improve the professional qualities of auditors have been allocated, in particular: practical focus of tasks at the qualification exam; gaining practical experience of candidates in auditors; improving the auditors’ professional skills; obligatory availability of certificates (diplomas) of professional organizations confirming the high level of knowledge on the international standards of financial reporting for auditors, which carry out the obligatory audits of financial statements and mandatory audit of financial statements of the subjects of public interest. It is specified that it is not necessary that all the requirements are implemented simultaneously, the variant of consecutive implementation thereof is possible. The practical significance of the recommendations developed is that their consideration in the gaining and maintenance of professional qualities of auditors will allow to ensure a qualitatively new level of the national audit that is able to compete with international auditing firms.

Keywords

• certification of auditors
• theoretical exam
• qualification exam
• professional qualities