OBLIGATORY AUDIT OF FINANCIAL STATEMENTS IN THE CONTEXT OF AUDIT ACTIVITIES REFORMING IN UKRAINE
FABIYANSKA Victoria – Candidate of Economic Sciences, Associate Professor of State Audit
and Control Department, Vinnytsia National Agrarian University (21008, Vinnytsia, Soniachna str. 3, е-mail: Viktoriafab@ukr.net).
The article considers the concept of trust as economic category in a context of relationship emerging
from delivering audit services between three parties: the auditor (auditing firm), the customer (enterprise)
and the third party (users of financial statements make a decision on further interactions with an enterprise
by results of financial statements checked by an auditor).
The concept of mandatory audit is investigated, which is a service provided by an independent
auditor (a subject of audit activity) to enterprises (organizations) which according to legal requirements
are obliged to publish annual financial (consolidated) statements together with an auditor report for the
purpose of providing its users with reliable information for adoption of management decisions.
Precautionary measures on ensuring quality of mandatory audit under conditions of imminence of
the national legislation to EU requirements are investigated in the article. Such requirements are direct ed
to the creation of special conditions of production of audit activity an ultimate goal of which is ensuring a
high-quality audit of financial statements of enterprises which are of social (public) interest.
Implementation of all rules makes it impossible or reduces to the minimum a possibility of violation of the
fundamental principle of auditor professional ethics - independence.
Performance by subjects of audit activity of all measures provided in the Law of Ukraine "About
Audit of Financial Statements and Audit Activity" will provide that measure of synergetic effect thanks to
which high quality of audit services will be reached and, as a result, growth of trust to work of an
independent auditor from the party of users of financial statements.
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071 Accounting and taxation
072 Finance, banking and insurance
076 Business, trade and exchange activities
241 Hotel, restaurant and catering
281 Public administration
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