ORGANIZATIONAL AND METHODOLOGICAL ASPECTS AND DIRECTIONS FOR IMPROVING ACCOUNTING AND AUDITING OF SETTLEMENTS WITH SUPPLIERS AND CONTRACTORS UNDER MODERN ECONOMIC CONDITIONS IN THE CONTEXT OF DIGITALIZATION

Abstract

The article presents a comprehensive study of the theoretical foundations and practical aspects of accounting and auditing of settlements with suppliers and contractors. The relevance of the topic is driven by the rapid development of market relations, globalization, and the necessity to harmonize national standards with IFRS in the context of the digitalization of the economy. Scientific approaches of leading domestic scholars regarding the essence of liabilities and accounts payable as a key financial lever of an enterprise are summarized.

Particular attention is paid to the analysis of the impact of IFRS 9 "Financial Instruments", IAS 24, and IAS 37 on the methodology for measuring and disclosing information on settlements with counterparties. The necessity of applying professional judgment by accountants in recognizing constructive obligations and transactions with related parties is substantiated. The author details elements of accounting policy that critically affect the reliability of the Balance Sheet and Statement of Cash Flows indicators, specifically: liability measurement methods, inventory procedures, and the mechanism for writing off bad debts.

The scientific novelty lies in the development of adapted methodological approaches to auditing under the conditions of using cloud-based ERP systems and electronic document management. An integration of process-oriented and risk-oriented approaches is proposed, allowing the auditor to effectively evaluate automated control procedures and utilize Computer-Assisted Audit Techniques (CAATs) for continuous testing of data sets. It is determined that the implementation of electronic contracts and integrated accounting systems minimizes the risks of misstating financial statements and enhances the enterprise's solvency. Practical recommendations for improving internal control are formulated to ensure transparency of mutual settlements and compliance with financial discipline.