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

Audit of the Activities of Network Retailers in the Open Access Economy
Nazarova K. O., Fedorenko O. P.

Nazarova, Karina O., and Fedorenko, Oleksandra P. (2020) “Audit of the Activities of Network Retailers in the Open Access Economy.” Business Inform 1:284–290.
https://doi.org/10.32983/2222-4459-2020-1-284-290

Section: Accounting and Auditing

Article is written in Ukrainian
Downloads/views: 3

Download article (pdf) -

UDC 657.6:[005:339.378]

Abstract:
The article explores specifics of the activities of network retailers (retail trade chains). It is defined what retailers in general and network retailers in particular are. The main stages of modern auditing (during the 20th and early 21st centuries), until the formation of an open-access economy, are covered. The need to improve the quality of financial and non-financial information in accordance with the requirements of consumers is rationalized. It is summarized that the quality and transparency of information, the obtained positive results of an external (so-called independent) audit either directly or indirectly impact the market value of a company, as they increase the level of confidence in the reliability and objectivity of information. The related needs and the socio-economic potential of audit in the context of globalization and European integration are highlighted. The results of a comparative analysis of the main trends in the development of network retailers in Ukraine, obtained as a result of research and evaluation of both the global and the national economic and social professional institutions, are presented. The basic, significant criteria for assessing information for confidence (or distrust) of the outcomes of analysis and auditing are systematized. The contents and features of assessing the quality and transparency of information have been disclosed. The main approaches to auditing the financial statements of a network retailer are substantiated, taking into account the initiative and mandatory audit (according to the requirements of the main relevant legislation regarding audit of financial statements and the auditing activity in Ukraine). It is concluded that in an economy with open access to information in general and audit information in particular, its users (professional and non-professional users of information) put forward a list of conceptual requirements, among which are quality and transparency. It is proved that network retailers, which are among the most investment-attractive for the M&A deals, are interested in obtaining positive audit results, and therefore, accordingly, are either objects of mandatory audit, or initiators of voluntary audit. The announcement of positive audit results of financial statements influences the value of a network retailer.

Keywords: audit, network retailers, open-access economy, quality of information, transparency.

Fig.: 3. Bibl.: 9.

Nazarova Karina O. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Financial Analysis and Audit, State University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]
Fedorenko Oleksandra P. – Postgraduate Student, Department of Financial Analysis and Audit, Kyiv National University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]

List of references in article

Kyivskyi mizhnarodnyi instytut sotsiolohii. https://www.kiis.com.ua/
Romanenko, N. “Komu prinadlezhat supermarkety Ukrainy“ [Who Owns the Supermarkets of Ukraine]. Biznes Tsenzor. 15.02.2018. https://biz.censor.net.ua/resonance/3050207/komu_prinadlejat_supermarkety_ukrainy
Didenko, S. “Potentsial ekonomiky Ukrainy: otsinka ta prohnoz Svitovoho banku“ [Ukraine's Economy Potential: World Bank Estimation and Forecast]. https://uazmi.org/news/post/glMkA0iw2O19o3I3OfcJF4
“Ukraina: spetsialna dopovid : Realizatsiia ekonomichnoho rostu Ukrainy“ [Ukraine: Special Report: Realizing Ukraine's Economic Growth]. The World Bank. 23.05.2019. http://pubdocs.worldbank.org/en/233891558601579588/Ukraine-Special-Focus-Note-Spring-2019-uk.pdf
[Legal Act of Ukraine] (2003). https://zakon.rada.gov.ua/laws/show/436-15
[Legal Act of Ukraine] (2017). https://zakon.rada.gov.ua/laws/show/2258-19
“Dyrektyva 2014/56/YeS Yevropeiskoho parlamentu ta Rady vid 16.04.2014 r., shcho vnosyt zminy do Dyrektyvy 2006/43/YeS pro oboviazkovyi audyt richnykh zvitiv ta konsolidovanykh zvitiv (stosuietsia Yevropeiskoho ekonomichnoho prostoru)“ [Directive 2014/56/EU of the European Parliament and of the Council of 16.04.2014 Amending Directive 2006/43/EU on Statutory Audits of Annual Reports and Consolidated Reports (European Economic Area)]. Ofitsiinyi zhurnal Yevropeiskoho Soiuzu. 27.5.2014. http://spilka-audit.org.ua/images/Direktiva_2014-56-EU.pdf
“Rehlament (Yevrosoiuz) No. 537/2014 Yevropeiskoho parlamentu i Rady vid 16 kvitnia 2014 roku pro spetsialni vymohy stosovno oboviazkovoho audytu subiektiv suspilnoho interesu ta skasuvannia Rishennia Komisii 2005/909/YeS1“ [Regulation (EU) No. 537/2014 of the European Parliament and of the Council of 16 April 2014 on Specific Requirements Regarding Statutory Audit of Public-interest Entities and Repealing Commission Decision 2005/909/EC]. http://eur-lex.europa.eu/legalcontent/EN/TXT/PDF/?uri=CELEX:32014R0537&from=EN
“Dyrektyva 2014/56/YeS Yevropeiskoho parlamentu shchodo oboviazkovoho audytu richnykh ta konsolidovanykh zvitiv“ [Directive 2014/56/EU of the European Parliament on the Statutory Audit of Annual and Consolidated Reports]. http://www.аpu.сom.uа/аttасhments/аrtiсle/762/Direktivа%202014-56-EU.pdf

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