SUBJECT-ORIENTED APPROACH TO ENSURING THE QUALITY OF FINANCIAL STATEMENT AUDITS

Abstract

The article examines the problems of ensuring the quality of financial statement audits in the context of economic transformation, digitization of accounting processes, increased risks, and growing uncertainty. It is argued that traditional formal and procedural approaches to organizing audits do not always ensure an adequate level of reliability of financial information and user confidence in the independent auditor's report. In this regard, there is a need to apply a subject-oriented approach, which involves the individualization of audit procedures, taking into account the specifics of the entity's activities, the characteristics of its internal environment, and the level of risk. This will ensure the individualization of audit procedures and increase their effectiveness.

The role of the auditor's professional judgment as a key factor in forming a reasonable audit opinion and improving the quality of the audit, which will contribute to the validity of the independent auditor's report, is revealed. The influence of experience, professional training, ethical position, and level of professional skepticism on the process of making audit decisions is determined. The transformation of audit risks in an unstable environment, incomplete information, and the growing role of management estimates in financial reporting are analyzed. . The transformation of audit risks in an unstable environment, incomplete information, and the growing role of management estimates in financial reporting are analyzed.

We suggest ways to improve audit quality based on developing a subject-oriented approach, improving the professional education system for auditors, sticking to ethics and independence principles, and focusing on the value of independent auditor reports for financial statement users. The results obtained can be used in the practical activities of audit firms and in further scientific research in the field of auditing. The proposed provisions can be used in the activities of audit firms, in the professional training of auditors, and in the formation of regulatory policy in the field of auditing in conditions of growing uncertainty and transformation of the business environment.