Audit consulting: EU practice
DOI:
https://doi.org/10.31617/3.2024(135)08Keywords:
audit, internal audit, subjects of audit activity, audit consulting, type of economic activity, sustainable development, consulting.Abstract
The dynamism of globalization processes, constant changes in legislation, the existence of variability, and sometimes contradictions in the interpretation of legislation and standards of regulating accounting, reporting and auditing, are real challenges facing both domestic and foreign businesses. In such conditions, professional assistance in establishing business processes of an economic entity, carrying out its optimization and transforma-tional changes, assessing and managing risks is an integral part of business stability and sustainable economic development. Audit consulting, as one of the separate types of economic activity of the subjects of audit activity, is precisely the necessary and effective tool that helps businesses quickly navigate and adapt to a dynamic business environment. This is why audit consulting is becoming an important lever for supporting enterprises in achieving their business goals and ensuring financial stability. The aim of the study is to reveal the essence, purpose, and objectives of audit consulting, to develop the theoretical founda-tions of audit consulting, considering international experience of its implementation in domestic practice. The information base of the article were the works of domestic and foreign scientists in the field of activity of auditing entities and the search for alternative ways to increase their value for business and society as a whole. During the research, general scientific and special methods were used: theoretical generalization and grouping, formalization, analysis and synthesis; logical generalization of the results. The authorʼs approach to revealing the conceptual basis for the construction and implementation of audit consulting in domestic reality has been formed. Audit consulting is the process of providing businesses and organi-zations with professional assistance and advice on issues related to auditing, financial transactions, optimization of financial reporting, tax issues and management decisions. Audit consulting is based on compliance with certain principles that ensure efficiency, reliability and objectivity of the process of providing consulting services to clients. In an inevitable prospect, the development of audit consulting may be an important task for audit firms and auditors working in this field.
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