| Issue: | 2020 №2 (70) |
| Section: | |
| UDK: | 336.7 (06) |
| DOI: | https://doi.org/10.33271/ev/70.075 |
| Article language: | Ukrainian |
| Pages: | 75-87 |
| Title: | Prospects of audit activity on the capital market of Ukraine |
| Authors: | Shyshkov S. E., PrJSC FB «Perspective»,
Shyshkova N. L., Dnipro University of technology |
| Annotation: | Methods. The results are obtained through the use of methods: analysis and synthesis – in generating the features of state control of auditing activities in the stock market; historical approach – for the analysis of the audit market in Ukraine, under the increased requirements for disclosure of information and the singling out of issuers who make a public offer; logical approach – in a comprehensive study of the results of audit firms that can conduct audits of professional participants in the securities market. Results. The scope of powers of the NSSMC is outlined regarding audit entities in Ukraine in terms of establishing additional requirements for information relating to the audit of financial statements of capital market entities, the mechanism of their interaction with audit entities. The content and features of state control of audit activities in the field of the stock market are revealed. The powers and method of state regulation of the NSSMC securities market are systematized. It is determined that the quality of financial statements, confirmed by audit findings, has slightly improved, but still remains at a fairly low level due to a number of major shortcomings identified in the analysis of financial statements. The current trends in the effectiveness of audit firms, which can conduct audits of professional participants in the securities market. Based on the analysis of audit opinions and reporting of professional stock market participants, ways to improve the quality of the national capital market are proposed. Novelty. In the course of monitoring the development trends of state and independent financial control over the activities of capital market participants, a constant expansion of regulatory requirements was identified against the background of a significant narrowing of the client base of audit entities, which will not necessarily contribute to quality implementation of international standards, corporate governance and strengthening investor protection. Practical value. Guidelines for integrated development of the capital market are proposed, aimed at creating economic and legislative preconditions for intensification of activity as market participants (effective incentives for public attraction of capital by Ukrainian issuers through national capital market instruments, expansion and diversification of investment opportunities for domestic and foreign investors , proper quality of financial and trade information) and audit firms (improving the quality, transparency and security of accounting and communication information). |
| Keywords: | Auditing entities, Statutory audit, Annual reports, Stock market, Issuers, Professional stock market participants, Register of audit firms, International auditing standards, Requirements for audit opinions |
| File of the article: | EV20202_075-087.pdf |
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