IMPACT OF AUDIT THROUGH STAKEHOLDER ENGAGEMENT

Abstract

The existential challenges faced by Ukraine necessitate the search for optimal ways to address them. On the one hand, the Russian-Ukrainian war is ongoing, and on the other, there are European integration aspirations, the need to prevent economic collapse, stabilize financial and socio-economic situation in the country. Each ministry, enterprise, and institution must adequately respond to existential challenges, effectively perform their functions in accordance with public demands. Public financial control (audit) bodies, in particular the Accounting Chamber of Ukraine as the supreme audit institution, must be effective and hold great social value for society, changing the lives of citizens for the better. To achieve this, it is necessary to carry out systemic reforms, change approaches to conducting audits, and establish proper connection and communication with stakeholders.

Analysis of international experience, in particular the Dutch model, indicates the relevance and importance of introducing organizational and methodological approaches and effective communication with specific stakeholders in the supreme audit institution, which will increase the value of audits and the role of supreme audit institutions in modern conditions. The use of a successful organizational and methodological model that takes into account the specifics of national stakeholders will make it possible to ensure a positive impact of the audit and achieve better results and changes in society.

The importance of studying and analyzing stakeholder requests, introducing an effective mechanism for monitoring the achieved results in a permanent analysis of changes is shown. Achieving significant results and success in this matter is possible only through the involvement of each element, a component of a holistic system that will take into account the national aspect and the specific features of stakeholders, their requests, desires, evaluation criteria, etc. Such an approach will make it possible to increase the value of audit activities and their role in enhancing the effectiveness of government and other stakeholders' actions for the benefit of the whole society.