AUDIT SERVICES MARKET: THE EXPERIENCE OF UKRAINE

Abstract

The purpose of the paper is to study the current state of the audit services market in Ukraine, identifying problems and making suggestions for its improvement in terms of European integration. Methodology. General scientific economic and mathematical methods (analysis, synthesis, abstraction, concretization) as well as special methods (comparison, tabular) were used. Results. Audit is one of the important types of services and is becoming increasingly important. It is established that nowadays audit has a number of contradictions and problems. Imperfect regulation of audit market in Ukraine led to problems in confirming the quality and reliability of financial reporting, which increases the risk of bankruptcy of enterprises and banks and reduces the level of confidence in them from potential investors and the public, and also creates obstacles to attract investment in the national economy as a whole. Analysis of audit services market in Ukraine shows a significant differentiation in the number of auditing entities and the cost of their services. There is a decrease in the number of subjects of audit activities, while the cost of services increases. The influence of the regional factor is significant, which led to the greatest concentration of the audit services market in certain regions. In general, the trends of audit development can be described as diversification of audit services with a gradual increase in their volume and value. Practical implications. As a result of the study the priority directions of development of the domestic market of audit services have been identified. Improving the chances of financial success of the subjects of audit activities is provided primarily by improving the quality of audit services performed by professional staff and expanding their range using specialized audit software, as well as the development of industry audit techniques. Provision of audit services to the client, taking into account the requirements of international standards, EU legislation, the application of best practices in the field of auditing, the specifics of the client will increase interest in the audit.

Keywords

• audit
• audit activity
• audit services
• audit quality
• audit market
• audit reform