BUSINESS RELATION RISKS FOR AUDITOR AND CUSTOMER IN THE CONTEXT OF INDEPENDENCE: TRENDS IN FOREIGN RESEARCH
DOI:
https://doi.org/10.31713/ve120203Keywords:
risk, independence, professional activity, interaction, audit services, non-audit services.Abstract
The urgency of the issue in the context of the Law of Ukraine "On Auditof Financial Reporting and Auditing" is emphasized, since at the level of the legislative document the attention was paid to the observance of theindependence of the financial statements of public interest entities in thecontext of performing non-audit services. However, at present, the practical implementation of these provisions, as well as the work of the auditor in providing non-audit services to other categories of customers is not sufficiently considered. The purpose of the study is to analyze current trends in the development of various aspects of independence in the light of foreign experience, assess the possibility of application in Ukraine.The article deals with the risks that arise in the process of formingcontractual relations and in the course of providing non-audit services.Emphasis is placed on maintaining independence in the simultaneousprovision of audit and other services. The issue is addressed with a focus on the overseas experience of auditors’ theory and practice of professional performance in a historical context. The development of non-audit services in Ukraine requires the research and practical implementation of aspects of auditors’ professional behavior regarding their provision to audit clients.The foreign researches were analyzed: features of realization ofindependence observance in the process of rendering non-audit services for forming the auditor’s conclusions in the assessment of continuity; therelationship between auditor independence and the price of non-auditservices; the auditor’s independence in the process of providing taxservices. The article also raises the issue of quality control of the provision of non-audit services by professional organizations. Discussions about independence remain in the active phase, which should be of interest to Ukrainian auditors to take into account the global trends in audit activity and the specifics of their implementation in Ukraine. The directions of professional independence in the part of non-audit services are indicated.References
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