Public companies non-financial reporting and audit in Ukraine: challenges and prospects
-
DOIhttp://dx.doi.org/10.21511/afc.01(1).2017.04
-
Article InfoVolume 1 2017, Issue #1, pp. 32-38
- Cited by
- 1434 Views
-
493 Downloads
This work is licensed under a
Creative Commons Attribution-NonCommercial 4.0 International License
Public interest entities and public companies as their representatives should be an example in implementing of sustainable development initiatives (sustainable development goals of the United Nations, development strategy «Europe-2020», «Sustainable Development Strategy»Ukraine-2020») in the light of Association agreement. Main challenges for Ukrainian public companies are non-financial information disclosure and assurance of both financial and non-financial reporting through statutory audit. Key prospects of public companies accounting system reform were outlined in this regard. This research may contribute to the existing literature in regard of identifying key areas of improving financial and non-financial information PIEs disclosure as well as its independent verification through statutory audit. This improvement should incorporate European experience and provision of Directive 2014/95 / EU, Directive 2013/34 / EU, Directive 2014/56 / EU and Regulation (EU) no. 537/2014. Among the promising areas of research, introduction of integrated reporting for Ukrainian PIEs is worth noting.
- Keywords
-
JEL Classification (Paper profile tab)H82, H83, M 41, M42
-
References28
-
Tables0
-
Figures2
-
- Fig. 1. The level of CSR disclosure on websites of companies on the parameter of «Strategy and Reporting» points, Center «CSR Development»
- Fig. 2. The level of disclosure on the websites of companies on the parameter of «Content», points, Center «CSR Development» (2015)
-
- Botez D. (2014). New requirements for statutory auditors in European Union. New Studies and Scientific Researches. Economics Edition, №20, pp. 37-43
- Botez D. (2015). Aspects Regarding the Quality of Statutory Audit Reports. Audit Financier, Vol. 13 Issue 123, pp. 82-89.
- Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC.
- Directive 2014/56/EU «On statutory audits of annual accounts and consolidated accounts».
- Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non financial and diversity information by certain large undertakings and groups, Official Journal of the European Union L 330/1.
- Dorosh N. Rozvytok audytors'koyi diyal'nosti v Ukrayini v umovakh yevrointehratsiynykh protsesiv, Visnyk Kyyivs'koho natsional'noho universytetu imeni Tarasa Shevchenka, 2015, No. 10, pp. 17-23.
- EU-Ukraine Association Agreement 27.06.2014.
- Fulop, M. and Pintea М. (2014). Effects Of The New Regulation And Corporate Governance Of The Audit Profession SEA - Practical Application of Science. Fundația Românăpentru Inteligența Afacerii, Editorial Department, issue 4, pp. 545-554.
- Healy P., Hutton A. Palepu K. (1999). Stock performance and intermediation changes surrounding sustained increase in disclosure. Contemporary Accounting Research, Vol. 3(16), pp. 485-520.
- Holov S. Rehulyuvannya bukhhalters'koho obliku I audytu v YeS ta vyklyky dlya Ukrayiny. Bukhhalters'kyy oblik i audyt, 2014, No. 10, pp. 3-13.
- Humphrey, C. et al. (2011). Regulating Audit beyond the Crisis: A Critical Discussion of the EU Green Paper. European Accounting Review, № 20(3), pp.431-457.
- Hura N. Implementatsiya dyrektyvy 2013/34/EU v Ukrayini z urakhuvannyam mizhnarodnoho dosvidu. Visnyk Kyyivs'koho natsional'noho universytetu imeni TarasaShevchenka, 2015, Vyp. 10, pp. 6-10.
- Center «CSR Development» (2015) Indeks prozorosti derzhavnykh komaniy Ukrayiny – 2015.
- Kiss, C. et al. (2015). Relevant Aspects Regarding the Changes of the Statutory Audit Report in the Light of International Regulations, Audit Financiar. 2015, Vol. 13 Issue 126, pp. 63-73.
- Parkhomenko V. Yevrokonverhentsiya bukhhalters'koho obliku, Bukhhalters'kyy oblik i audyt, 2014, № 8, pp. 3-4.
- Petryk, O. A. (2011). Problemy adaptatsii zakonodavstva u sferi audyta do polozhen 43 Dyrektyvy EU ta Zelenoi knyhy «Polityka audytu: uroky kryzy. Visnyk Lvivskoi komertsiinoi akademii, pp. 265-268.
- Pro audit finansovoyi zvitnosti ta audytors'ku diyal'nist': proektZakonu vid 17.08.2015.
- Pro audytors'ku diyal'nist': proekt Zakonu vid 06.10.2015.
- Pro deyaki pytannya provedennya audytu finansovoyi zvitnosti subyektiv hospodaryuvannya derzhavnoho sektoru ekonomiky: Postanova Kabinetu Ministriv Ukrayiny № 390 vid 04.06.2015.
- Proekt Zakonu pro audit finansovoyi zvitnosti ta audytors'ku diyal'nist' № 6016 vid 03.02.2017.
- Ratzinger-Sakel, Nicole V.S. and Schoenberger, Martin W., Restricting Non-Audit Services in Europe -The Potential (Lack of) Impact of a Blacklist and a Fee Cap On Auditor Independence and Audit Quality (March 25, 2015). Accounting in Europe, Journal of the European Accounting Association, Vol. 21, pp. 61-86.
- Red'ko O. Yu. Pytannya akomodatsiy iukrayins'koho audytu do vymoh EU. Statystyka Ukrayiny, 2015, №1, pp. 28-30.
- Regulation (EU) № 995/2010 of 20 October 2010 laying down the obligations of operators who place timber and timber products on the market
- Shalimova N. S. Rehulyuvannya obov’yazkovoho audytu v krayinakh EU ta Ukrayini. Stratehiya rozvytku Ukrayiny, 2016, № 1, pp. 51-56.
- Shul'ha S. Zminyuyuchy pravyla hry – pershi otsinky vplyvu dyrektyvy EU z audytu na yevropeys'ki ta svitovi rynky. Bukhhalters'kyy oblik i audyt, 2015, № 10, pp. 30-34.
- Szabó, D. G. and Sørensen, K. E. New EU Directive on the Disclosure of Non-Financial Information (CSR). European Company and Financial Law Review, 2015, Vol. 12, Issue 3, pp. 307-340.
- Van der Elst, Christoph, Audit Committees of Public Interest Entities in Europe (December 2, 2014). European Corporate Governance Institute (ECGI) - Law Working Paper № 276/2014.
- Zubilevych S. Oblikova Dyrektyva EU, yiyi vplyv na sklad i zmist zvitiv y evropeys'kykh kompaniy ta perspektyvy dlya Ukrayiny. Bukhhalters'kyy oblik i audyt, 2014, №7, pp. 3-15.