The Types and Specificities of Auditing in the Procedures of Recovering the Solvency of Enterprises
The article is concerned with the systematization of types and the disclosure of specificities of auditing as well as audit services in the process of recovering the solvency of domestic enterprises. The main types of audit have been allocated and their features have been characterized. It has been...
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| Format: | Article |
| Language: | English |
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Research Centre of Industrial Problems of Development of NAS of Ukraine
2017-06-01
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| Series: | Bìznes Inform |
| Subjects: | |
| Online Access: | http://www.business-inform.net/export_pdf/business-inform-2017-6_0-pages-234_239.pdf |
| Summary: | The article is concerned with the systematization of types and the disclosure of specificities of auditing as well as audit services in the process of recovering the solvency of domestic enterprises. The main types of audit have been allocated and their features have been characterized. It has been determined that both internal and external audit may take place in the procedures of readjustment (judicial and pre-trial), disposition of property, and the settlement agreement, the latter being a more effective form of control. In the author’s view, the main type of audit of the financially insolvent enterprises should be acknowledged the audit of financial statements, which differs from the traditional audit, depending on which it can be positioned as before- and post-readjustment. The specifics of readjustment audit have been identified, the purpose of which is to confirm the validity, efficiency, and achievability of the readjustment plan. An indicative list of other audit services has been provided, which may be expanded depending on the current procedure and the needs of customer. Expediency of establishing, at the legislative level, the mandatory auditing in the procedures of recovering the solvency has been substantiated. |
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| ISSN: | 2222-4459 2311-116X |