Problems of professional ethics standards use in auditors’ practice in Ukraine

Abstract

Significant problems of the professional ethics principles violation by auditors cause many problems not only in reliability of disclosed audit opinion, but also cause problems of global stakeholders’ mistrust to the audit profession. This generally creates the barriers for ensuring the transparency of mechanisms of disclosure and verification of Ukrainian business data and does not help form appropriate investment climate. The article finds that auditor’s ethical principles should be regulated and organized on all the levels of the audit quality control ensuring. According to the results of this study, the author highlights these four levels (international, national, local, personal) and describes the contribution of each level of documents in the organization of the quality control (in part of ethical principles) has been. The research proves the system of organizational support for creating ethical principles compliance environment during carrying out audit assignment based on identifying and eliminating threats to auditors’ independence. In this regard, the author proposes the structure and content of organizational and administrative documents, which are the part of the internal audit quality control system.

Keywords

• audit
• audit procedures
• professional ethics
• ethical principles
• threats to auditor’s independence