Auditor’s verification of a management report: implementation of European experience in Ukrainian banks in crisis conditions
The research is devoted to the analysis of the European and Ukrainian experience of banks’ management report audit assurance, the disclosure of the national features of such assurance using the case study of 75 state-owned banks, banks with private and foreign capital in Ukraine, and the specific fe...
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2020-06-01
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| Series: | Accounting and Financial Control |
| Subjects: | |
| Online Access: | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/13558/AFC_2020_01_Makarenko.pdf |
| _version_ | 1818334117623758848 |
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| author | Inna Makarenko Serhiy Makarenko |
| author_facet | Inna Makarenko Serhiy Makarenko |
| author_sort | Inna Makarenko |
| collection | DOAJ |
| description | The research is devoted to the analysis of the European and Ukrainian experience of banks’ management report audit assurance, the disclosure of the national features of such assurance using the case study of 75 state-owned banks, banks with private and foreign capital in Ukraine, and the specific features of audit verification of this report in the current crisis conditions. It was discovered that the requirements of national regulatory documents and guidelines for preparing a management report for banking institutions generally comply with the European approaches, particularly with Directive 2014/95/EU, Directive 2013/34/EU, and Directive 2014/56/EU (Legislation of EU, 2013, 2014). However, specific national requirements for the content of the report and the procedure for its audit are duplicated, intersect, and create inaccuracies in the disclosure of non-financial information by banks. Besides, the requirements for the reflection of the information on the management report in the independent auditors’ report of the studied banks of Ukraine are partially met. The common challenges for accounting and audit support for the management report for Ukrainian and European banks are disclosed in terms of the current crisis caused by global health risks and their economic consequences for banks. |
| first_indexed | 2024-12-13T14:02:26Z |
| format | Article |
| id | doaj.art-305047aa90c44038a08555668e68cacc |
| institution | Directory Open Access Journal |
| issn | 2543-5485 2544-1450 |
| language | English |
| last_indexed | 2024-12-13T14:02:26Z |
| publishDate | 2020-06-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Accounting and Financial Control |
| spelling | doaj.art-305047aa90c44038a08555668e68cacc2022-12-21T23:42:41ZengLLC "CPC "Business Perspectives"Accounting and Financial Control2543-54852544-14502020-06-013111010.21511/afc.03(1).2020.0113558Auditor’s verification of a management report: implementation of European experience in Ukrainian banks in crisis conditionsInna Makarenko0https://orcid.org/0000-0001-7326-5374Serhiy Makarenko1https://orcid.org/0000-0001-6455-3585Doctor of Economics, Associate Professor, Associate Professor of the Accounting and Tax Department, Sumy State UniversityChief Auditor, АF LLC «Sumycoop-audit», SumyThe research is devoted to the analysis of the European and Ukrainian experience of banks’ management report audit assurance, the disclosure of the national features of such assurance using the case study of 75 state-owned banks, banks with private and foreign capital in Ukraine, and the specific features of audit verification of this report in the current crisis conditions. It was discovered that the requirements of national regulatory documents and guidelines for preparing a management report for banking institutions generally comply with the European approaches, particularly with Directive 2014/95/EU, Directive 2013/34/EU, and Directive 2014/56/EU (Legislation of EU, 2013, 2014). However, specific national requirements for the content of the report and the procedure for its audit are duplicated, intersect, and create inaccuracies in the disclosure of non-financial information by banks. Besides, the requirements for the reflection of the information on the management report in the independent auditors’ report of the studied banks of Ukraine are partially met. The common challenges for accounting and audit support for the management report for Ukrainian and European banks are disclosed in terms of the current crisis caused by global health risks and their economic consequences for banks.https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/13558/AFC_2020_01_Makarenko.pdfauditbank sustainability reportingmanagement reportverification |
| spellingShingle | Inna Makarenko Serhiy Makarenko Auditor’s verification of a management report: implementation of European experience in Ukrainian banks in crisis conditions Accounting and Financial Control audit bank sustainability reporting management report verification |
| title | Auditor’s verification of a management report: implementation of European experience in Ukrainian banks in crisis conditions |
| title_full | Auditor’s verification of a management report: implementation of European experience in Ukrainian banks in crisis conditions |
| title_fullStr | Auditor’s verification of a management report: implementation of European experience in Ukrainian banks in crisis conditions |
| title_full_unstemmed | Auditor’s verification of a management report: implementation of European experience in Ukrainian banks in crisis conditions |
| title_short | Auditor’s verification of a management report: implementation of European experience in Ukrainian banks in crisis conditions |
| title_sort | auditor s verification of a management report implementation of european experience in ukrainian banks in crisis conditions |
| topic | audit bank sustainability reporting management report verification |
| url | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/13558/AFC_2020_01_Makarenko.pdf |
| work_keys_str_mv | AT innamakarenko auditorsverificationofamanagementreportimplementationofeuropeanexperienceinukrainianbanksincrisisconditions AT serhiymakarenko auditorsverificationofamanagementreportimplementationofeuropeanexperienceinukrainianbanksincrisisconditions |