The Audit of Transfer Pricing in the Context of the European Integration and Globalization

The article is aimed at substantiating the theoretical and methodological provisions, as well as developing practical recommendations on improvement of organization and methodology of the audit of transfer pricing of enterprise in modern conditions, introduction of international experience and the wide application of information technologies. Relevance of the topic is substantiated by that the issues of organization and methodology of audit of the transfer pricing of enterprise are insufficiently developed. An analysis of special sources has allowed to assert that, in conditions of constant changes of the legislation and in connection with presence of probability of check by tax authorities and imposition of penalty sanctions on economic entity, the questions of audit of transfer pricing of enterprise are relevant to research. Features of functioning of enterprise necessitate the research of new methodological and organizational approaches to audit, as specificity of their activity imposes special requirements to formation of the information necessary for the accounting and control purposes of the audit of transfer pricing

MANAGEMENT EFFICIENCY ANALYSIS OF INNOVATION PROCESS IN THE FINANCIAL AND ECONOMIC ACTIVITIES OF IT SPHERE ENTERPRISES

The purpose of the article is to substantiate the priority of increasing the management efficiency of innovative process of IT sphere as a factor contributing to the Ukraine’s economic growth taking into account the current opportunities and limitations. The study substantiated that maintaining a competitive advantage in the innovation space through the development of digitalization processes in Ukraine requires continuous improvement of the management of the innovative process in the IT sphere, and increasing the efficiency of implementing new technical, organizational and marketing solutions. It is shown that under the influence of an unstable external environment, there is a need to develop and implement a management system that would provide an opportunity to obtain competitive advantages in the IT sphere and maintain a competitive position of the Ukrainian IT business in the market. The priority of development is long-term growth, the driving force of development is innovation and modern technologies, as well as highly qualified human and institutional capital. At the same time, traditional factors of production (land, natural resources, labour) are losing their importance. The basic priorities of managing the innovation development of the IT sphere have been determined. The implementation of an innovation policy in the IT sector of Ukraine, based on the current opportunities and constraints, will ensure a systematic and sustainable increase in the efficiency of innovative development in this area and will contribute to the increase of the national economy of Ukraine. The results of the study should be implemented for the development of the theory and methodology of innovative development at the macro- and meso-levels, as well as in stimulating model of innovative process in Ukraine based on the status of its leading economic sectors, in particular, the IT sphere

International trade risk management under the impact of globalization

Doing business in condition of international trade, a stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism to understand the strengths and weaknesses of an operating environment and for strategic investment decisions. In terms of open economy and globalization trends, business faced a lot of different challenges with their specific risks, hence an effective risk assessment approach and management is extremely vital for economic security of business and especially for all country doing business with other countries trying to succeed. The article presents risk management plan content that helps to structure business risk management process and provide with the measures how to deal with risks

Application of blockchain technology in accounting and audit: international and domestic experience

The article is devoted to the study of blockchain technology in the financial sphere of Ukraine, as well as accounting and audit of their application in domestic and international practice. The article contains data on the prospects of blockchain development in the world and in Ukraine, as well as information on the peculiarities of the use of such technologies in the perspective areas – accounting and audit. The article argues that the development of blockchain technology will enable the transition to more modern methods and techniques, which in turn will allow to modernize the accounting and auditing system. The principle of triple entry as a major component of blockchain technology in accounting is emphasized. One of the most promising areas of application of blockchain is accounting for accounts payable and receivable, tax accrual and payment, record keeping and documentation. The article highlights the advantages and disadvantages of using blockchain technology in the financial sphere of Ukraine

Anti-corruption audit as an imperative of effective environmental management

In order for the global society to emerge from the socio-economic COVID crisis, as well as to reduce its high level of eco-anxiety of various etymologies, it is necessary to restore public confidence in effective management of key segments of the national economy as an imperative of national security. In the Transparency International-19 Corruption Perceptions Index, Ukraine ranked 129th out of 180 countries (with an index of 30). The way out of the permanent state of eco-anxiety is possible only if the public information space is filled with well-founded messages about overcoming corruption risks, which are aimed at effective anti-corruption audit, which should be based on the results of basic research. The development of the region is not possible without ensuring the stable functioning of all its components: the population of the region, the state of entrepreneurship. In this case, each of the parts of the system is in correlation with each other. That is why the first direction of regional policy should be to support the introduction of eco-management in enterprises, as well as the formation of environmental behavior in the population of the region. Anti-corruption audit is an imperative for effective environmental management

Digital Audit as an Imperative for Ukraine’s Way out From the COVID-crisis and a Tool to Increase the Competitveness of the State

The article is devoted to the issues of organization and prospects of audit development in terms of digitalization. The state and the measures needed to improve audit effectiveness in the context of automation are investigated and analyzed. The factors that negatively influence the audit digitization process and the possible directions of development of audit activity in the computerized environment are identified. The use of automation helps auditors process more data and focus on identifying risks, allowing for higher quality audits. Classification of information technology of audit, conditions for the development of audit software, factors that impede audit automation are given. Audit digitization is a new level in the audit field that is rapidly evolving and rapidly expanding in enterprises, especially those that use an automated accounting method. The software currently used by auditors needs to be refined to meet the demands of today's world. Digitization will become relevant for all audit firms seeking to gain competitive advantage and take a place in the audit services market

THE CRYPTOCURRENCY ASSETS MARKET IN THE CONDITIONS OF MILITARY AGGRESSION

The Russian-Ukrainian war transformed the needs of consumers of financial services, both in Ukraine and abroad. On the one hand, the civilian population and the Armed Forces of Ukraine needed immediate help from the international community. On the other hand, individual and institutional investors were concerned about threats to traditional financial investments. The purpose of the article is to identify the priority directions for the development of the cryptocurrency asset market against the background of the Russian-Ukrainian war. The article presents an analysis of the cryptocurrency asset market with an emphasis on its structural changes in the conditions of the Russian-Ukrainian war. In the study, a survey was conducted to find out the impact of the war on the Ukrainian cryptocurrency market. The analysis of the survey results substantiates the hypothesis about the impact of increased hacking attacks by pro-Russian forces and missile attacks on the functioning of the cryptocurrency market in Ukraine. It has been confirmed that investments and payments are promising segments of the cryptocurrency market in Ukraine, in which, the most interested users and potential users of cryptocurrency are. Based on the received data, the weaknesses and strengths of the functioning of the cryptocurrency market in the conditions of war were identified. Threats and opportunities for the development of the cryptocurrency market against the background of Russian armed aggression are substantiated. The conducted research made it possible to formulate scenarios for the development of the cryptocurrency asset market in Ukraine in war conditions and the conditions for their implementation

Accounting, analysis and environmental audit as an imperative of the development of green economy in the state’s economic security system

The necessity of using accounting and auditing system is substantiated in the article, its main advantages are also defined. A model of accounting and audit support has been developed in the article, suitable for usage by forestry enterprises. In the system of rational forest management, accounting and auditing support of its management is of paramount importance, because it allows to monitor, document and verify for reliability all parties of financial and economic activities of forest users. In developing a system of accounting and audit of rational forest management, we are based on the fundamental categories of the classical scientific process, so its main elements are the object, subject, methods and subjects of research in the context of the relationship between the two components – accounting (by types) and economic and environmental audit of forest resources. Conducting an environmental audit in the forestry sector is complicated by the complexity of the audit object and the contradictory and multi-level relationships between its main elements. Internal audit is one of the few available and at the same time undervalued resources, the proper use of which can improve the efficiency of the enterprise and contribute to the orderliness of the management of economic processes

Cyfrowe bezpieczeństwo informacji: wpływ kryzysu spowodowanego przez COVID 19 na szkolenie księgowych, analityków biznesowych i audytorów

The article considers the impact of transformation processes on business in the context of digitalization. Equally important is the study of the impact of these processes on the training of professionals whose work has had a direct impact on these transformations – accountants, business analysts and auditors. These specialists are faced with the task of analyzing the impact of the facts and determining the change in business development strategy in the context of global digitalization. The field of audit both in the world was able to adapt extremely flexibly to the new realities of functioning in the digitalized world. In this article, the authors reveal the main trends of digitalization of audit in the conditions of economic transformation and limited business practices caused by this global pandemic of 2019-2020. At the same time, the processes of digital transformation are the driving forces of the economy. Computer technology is becoming increasingly involved in reforming the audit institution and changing the trajectory of the auditor’s role in such a society