CURRENT STATUS OF AUDIT IN UKRAINE AND FIELD OF FINANCIAL REPORTING QUALITY AUDIT DEVELOPMENT

Анотація

In the course of writing this article, a report on the state of audit activity in Ukraine was elaborated. In order to improve the efficiency of the organization process, to carry out the audit of the quality of financial statements in terms of improving the process, to develop the methodology and the formation of appropriate tools, it is necessary to analyze the quality of the provision of audit services to auditors and entities in Ukraine as a whole Using the information consolidated in the report Audit Chamber of Ukraine, made an attempt to evaluate the quality of audit activity as a basis for evaluation and opportunities for improving the audit system ytu quality of financial reporting. The audit market was analyzed for the dynamics of the number of entities and the total volume of services provided. The analysis shows that the concentration of services rendered by individual entities, the discrepancy of some entities and the discontinuation of their operation, given the data on the dynamics of the number of entities in the audited period. The analysis of audit services in Ukraine by the number of audit entities from the range of services provided. Using the data of the Audit Chamber of Ukraine, an analysis of the dynamics of services provided by business entities was performed, which showed an increase in the number of audit entities, which may have been caused by the increased demand for audit services and, accordingly, the differentiation of their provision by domestic entities. In turn, the indicators of the structure of the audited entities (by volume of services provided) were examined. Increase in the number and share in the domestic market of audit services for the period 2014-2018 for large audit entities, the volume of services rendered for the year amounting to more than UAH 500.1 thousand. This situation testifies to a certain monopoly in the market of audit services, limited access to the market of small entities, the absence of real competition and so on. This will have a negative impact in the context of poor audit quality and the audit services provided, which in turn will lead to a decrease in the quality of conducting such an audit as the audit of the quality of the financial statements.

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