BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

The Principle of Independence in Audit as a Guarantee of the Impedance of Audit Reports
Novichenko L. S., Stoika N. S.

Novichenko, Lyudmila S., and Stoika, Nataliia S. (2025) “The Principle of Independence in Audit as a Guarantee of the Impedance of Audit Reports.” Business Inform 8:343–351.
https://doi.org/10.32983/2222-4459-2025-8-343-351

Section: Accounting and Auditing

Article is written in Ukrainian
Downloads/views: 0

Download article (pdf) -

UDC 657.6

Abstract:
Adherence to the principle of independence by auditors guarantees the objectivity of the evaluation of an economic entity’s activities and forms the basis for the auditor to provide a reliable and impartial opinion regarding its compliance, in all material respects, with the requirements of national accounting standards, International Financial Reporting Standards, or other relevant regulations. Independence in auditing, within the context of this study, is viewed as a key principle of auditor professional ethics, as it is closely linked to the principles of professional competence, honesty, and objectivity. The aim of the article is to examine the regulatory framework and the specifics of implementing the principle of auditor independence, as well as the procedures developed by auditing entities to ensure adherence to the independence principle in the delivery of auditing services. The aim of the study is also to identify and list the types of threats to auditor independence and to outline ways to minimize their impact in the context of reforming auditing activities in Ukraine. The article provides a detailed examination of national-level regulation and the regulation at the level of professional organizations concerning compliance with the principle of independence in the auditing profession, taking into account international experience. Based on the research results, the main legislative requirements for developing procedures and mechanisms to ensure adherence to the principle of independence when providing various types of audit services at both the national level and at the level of an auditing entity are summarized. By analyzing, systematizing, and synthesizing the scientific works of many scholars, the classification of threats to auditor independence is examined, and examples of circumstances that give rise to such threats are provided. Based on the results of the study, a list of precautionary measures has been composed, the implementation of which allows minimizing the impact of various situations that may threaten the auditor’s independence. Prospects for further research in this area include studying the specifics of documentary support for adherence to the principle of independence at the level of an auditing entity, as well as analyzing practical cases concerning the implementation of measures to minimize or avoid threats to the auditor’s independence.

Keywords: auditor, auditing entity, audit services, professional ethics, ethical principles of auditing, independence, threats, precautionary measures

Fig.: 2. Tabl.: 1. Bibl.: 13.

Novichenko Lyudmila S. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting, Auditing and Taxation, The National Academy of Statistics, Accounting and Auditing (1 Pіdhіrna Str., Kyiv, 04107, Ukraine)
Email: [email protected]
Stoika Nataliia S. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting and Auditing, Ferenc Rakoczi II Transcarpathian Hungarian Institute (6 Koshuta Square, Beregovo, Zakarpatska oblast, 90202, Ukraine)
Email: [email protected]

List of references in article

Antoniuk, O. R. (2020). Ryzyky vzaiemodii audytora ta zamovnyka v konteksti nezalezhnosti: tendentsii zakordonnykh doslidzhen [Risks of interaction between the auditor and the client in the context of independence: trends in foreign research]. Visnyk Natsionalnoho universytetu vodnoho hospodarstva ta pryrodokorystuvannia. Seriia «Ekonomichni nauky», 1(89), 28–39.
Fabiianska, V. (2019). Nezalezhnist audytora: zahrozy ta zasterezhni zakhody shchodo yikh usunennia. Instytut bukhhalterskoho obliku, kontrol ta analiz v umovakh hlobalizatsii, 3–4, 99–112.
Holov, S. F., Holubka, Ya. V., Kostiuchenko, V. M., Kuzina, R. V., & Chyzhevska, L. V. (2022). Profesiina etyka bukhhaltera [Professional ethics of an accountant]. PP Ruta. Zhytomyr.
Lysenko, A. M., & Akimov, S. S. (2022). Audytorski posluhy u konteksti vynyknennia zahroz nezalezhnosti audytu. Derzhava ta rehiony. Seriia: Ekonomika ta pidpryiemnytstvo, 3(126), 67–72.
Mizhnarodnyi kodeks etyky profesiinykh bukhhalteriv (vkliuchaiuchy mizhnarodni standarty nezalezhnosti), vydannia 2021 roku [International Code of Ethics for Professional Accountants (including International Independence Standards), 2021 Edition]. https://www.ethicsboard.org/publications/mizhnarodniy-kodeks-etiki-profesiynikh-bukhgalteriv-vklyuchayuchi-mizhnarodni-standarti
Mizhnarodnyi standart z upravlinnia yakistiu (MSUYa) 1 «Upravlinnia yakistiu dlia firm, shcho vykonuiut audyty chy ohliady finansovoi zvitnosti, abo inshi zavdannia z nadannia vpevnenosti chy suputnikh posluh» [International Standard on Quality Management (ISQM) 1 "Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements"]. https://mof.gov.ua/uk/download/page/4979
Mulyk, Ya. I. (2023). Dotrymannia profesiinoi etyky audytora yak zaporuka doviry do profesii. Ekonomika ta suspilstvo, 52. https://economyandsociety.in.ua/index.php/journal/article/view/2544/2464
Petryk, O. A. (2003). Audyt: metodolohiia i orhanizatsiia [Audit: methodology and organization]. KNEU. Kyiv.
Riadska, V. V. (2014). Analiz zmistu robochoi nezalezhnosti v audyti. Visnyk Chernihivskoho derzhavnoho tekhnolohichnoho universytetu. Seriia : Ekonomichni nauky, 1, 253–259.
Salova, N. (2015). Profesiina etyka audytora: fundamentalni pryntsypy. Audytor Ukrainy, 6(235), 14–19.
Shalimova, N. S. (2013). Pidkhody shchodo zabezpechennia pryiniatnoho rivnia nezalezhnosti audytoriv. Naukovi pratsi Kirovohradskoho natsionalnoho tekhnichnoho universytetu. Ekonomichni nauky, 23, 249–258.
Shulha, S. V., & Parkhomenko, Ye. Yu. (2019). Profesiina etyka audytora v umovakh yevrointehratsii: zmist ta instytutsiini aspekty rehuliuvannia. Efektyvna ekonomika, 3. http://www.economy.nayka.com.ua/pdf/3_2019/49.pdf
Zakon Ukrainy vid 21.12.2017 r. № 2258-VIII. Pro audyt finansovoi zvitnosti ta audytorsku diialnist [Law of Ukraine of December 21, 2017 No. 2258-VIII. On auditing of financial statements and auditing activities]. https://zakon.rada.gov.ua/laws/show/2258-19#Text

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster