Audit development in Ukraine: aspects of regulation of audit activity

Abstract

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 aspects of audit and audit activity. Modern conditions of the process of Ukraine's integration into the European space cause the regulatory framework to be adapted to the legislation of the European Union. During the period of operation, the national audit system in Ukraine is constantly improving. The article analyzes the normative documents and publications of scientists to determine aspects of regulatory regulation of audit in Ukraine in connection 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 main documents 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 acts regulating the implementation of audit and audit activities in Ukraine have been considered.

Keywords

• audit
• audit activity
• normative-legal regulation of audit activity
• international audit standards
• internal audit standards