Issue №: 6 (34)
The magazine deals with the problems of the agricultural sector of the economy in the context of integration and processes of globalization. Attention is paid to the issues of development of digital economy, rural territories, technologies of enterprise management and organization of accounting, problems of legal support of economic processes, market tendencies of development of various branches of economy. Particular attention is paid to green tourism as a promising segment of the national economy.
CONCEPT OF MATERIALITY IN ACCOUNTING AND AUDITING PRACTICE
TOMCHUK Olesya – Candidate of Economic Sciences, Associate Professor, Dean of the Department of Accounting and Audit, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., е-mail: olesya-tomchuk@yandex.ru).
FABIYANSKA Victoria – Candidate of Economic Sciences, Associate Professor of the State Audit and Control Department, Vinnytsia National Agrarian University (21008, Vinnytsia, 3, Soniachna Str., е-mail: Viktoriafab@ukr.net).
The article examines the concept of materiality in accounting and auditing practice. A comparison was made between the concepts of “substantive” and “materiality” and their difference was determined. The essence of the definition of “materiality” in international and national legislation is analyzed. The subjects and objects of determination of materiality in the accounting practice of the enterprise are determined. The accounting and audit aspects of the concept of “materiality” are investigated. On the basis of the study of International Standard 320 “Significance in the planning and conduct of the audit”, the peculiarities of application of materiality in the audit practice, in particular, in terms of the three stages of the auditing process: organizational, research and final, were determined. As a result of the research, it was substantiated that the significance of the auditing practice can be considered from thethree positions: the maximum permissible size of distortion of financial statements; as a criterion for auditing the auditor during the planning and designation of an audit object and relevant audit evidence; as a criterion for assessing audit evidence obtained; as a factor affecting the choice of the form of expressing an independent opinion of the auditor in the audit report.
1. Zhuravka, F. О. (2012). Metodychni aspekty vyznachennia suttievosti v audyti [Methodical aspects of determination of importance in audit]. Visnyk Sumskoho natsionalnoho ahrarnoho universytetu. Seriia : Ekonomika i menedzhment – Bulletin of the Sumy National Agrarian University. Series: Economy and management, 8, 3-8 [in Ukrainian].
2. Redko, О.I., Kulahin, О.А. & Redko, K.О. (2010). Suttievist u praktytsi profesiinoho audytu: prktychnyi posibnyk [Significance in the practice of professional audit: practical guide]. Kyiv. [in Ukrainian].
3. Kulyk, R. R. (2014). Etymolohiia poniattia “suttievist” u bukhhalterskomu obliku ta audyti [Etymology of the concept of “essence" in accounting and audit]. Ekonomichnyi analiz: zb. nauk. prats TNEU – Scientific notes of [National University “Ostroh academy”]. Ser.: Economics, 2, 23-30 [in Ukrainian].
4. Lysko, N. А. (2012). Dyferentsiatsiia termina “suttievist” u derzhavnomu sektori Ukrainy: oblikovyi ta audytorskyi aspekt [Differentiation of the term “importance” in public sector of Ukraine: registration and auditor aspect]. Naukovi zapysky [Natsionalnoho universytetu “Ostrozka akademiia”]. Ser.: Ekonomika – Scientific notes of [National University “Ostroh academy”]. Economics, 20, 243-246 [in Ukrainian].
5. Schyrba, M. T. & Schyrba І. М. (2014). Kontseptsiia suttievosti v obliku i zvitnosti pidpryiemstva [The concept of importance in accounting and reporting of the enterprise]. Torhivlia, komertsiia, pidpryiemnytstvo – Trade, commerce, business, 16, 99-102 [in Ukrainian]. 6. Economic encyclopedia. Retrieved from http://slovopedia.org.ua.
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12. Tomchuk, О.V. & Fabianska, V. Yu. (2018). Zastosuvannia profesiinoho sudzhennia audytora v konteksti rozvytku Mizhnarodnykh standartiv audytu [Application of professional judgment of the auditor in the context of development of the international standards of audit]. Ekonomika. Finansy. Menedzhment: aktualni pytannia nauky i praktyky - Economics. Finances. Management: relevant questions of science and practice, 1, 68-80 [in Ukrainian].
13. Zdyrko, N. H. & Hordieeva, К. V. (2010). Teoretychni aspekty sutnosti audytorskoho ryzyku v Ukraini [Theoretical aspects of essence of auditor risk in Ukraine]. Ekonomichni nauky. Ceriia : Oblik i finansy - Economic sciences. Series : Accounting and finances, 7(1), 502-508 [in Ukrainian].
14. Mykhalchyshyna, L.H. & Kalashnyk, V. V. (2012). Vnutrishnii audyt u zapobihanni pomylok i shakhraistva na pidpryiemstvi [Internal audit in prevention of mistakes and frauds at the enterprise]. Zbirnyk naukovykh prats VNAU. Seriia: Ekonomichni nauky - Collection of scientific works of VNAU. Series: Economic sciences, 2 (64), 94-99 [in Ukrainian].
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The journal “Economy, finances, management: Topical issues of science and practice” is included in the "List of Scientific Professional Editions of Ukraine".
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The purpose of the journal "Economics, finances, management: Topical issues of science and practical activity» is the coverage of leading scientific ideas in the economic, financial and management activities of the sectors of the national economy and the involvement of representatives of the domestic and foreign scientific professional community.
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- publication of research findings on innovation in the economy, financial and management spheres, innovation of production processes;
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- adherence to editorial ethics.
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It was founded in 1997 under the name "Bulletin of the Vinnytsia State Agricultural Institute". In 2010-2014 he was published under the title “Collection of scientific works of Vinnitsa National Agrarian University”.
From 2015 ”Economy, finances, management: Topical issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 of PR as of December 31, 2014)
The journal is the successor to the edition ”Collection of Scientific Papers of Vinnytsia National Agrarian University. Series: Economic Sciences. "
