Українська
Levytska, S., Ostapiuk, N., Tsiatkovska, O., Resler, M., & Mykhalska, O.
(2024).
State institution non-financial asset audit strategy development.
Economics of Development,
23(2),
57-68.
https://doi.org/10.57111/econ/2.2024.57
English
Article
State institution non-financial asset audit strategy development
Received 21.02.2024, Revised 06.05.2024, Accepted 27.06.2024
Abstract
The aim of the study was to determine optimal strategies and methods for improving audit activities in the field of management of non-financial assets of public institutions. Audit reports, financial statements of state institutions, the legal framework for audit activities and information on asset management strategies were used in the study. The study results demonstrate that effective and objective control over assets ensures financial discipline, optimises costs and complies with legal requirements. The study discusses the traditional, risk-based and integrated approaches to asset auditing, as well as the importance of an integrated audit approach that considers not only financial indicators but also non-financial aspects that affect the performance of an institution. The real situation in Ukraine is addressed and compared with other countries, namely the United States, the United Kingdom, India, Brazil and Hungary. The study noted that the development of the audit of non-financial assets of public institutions is a complex and dynamic process that occurs on constant changes in legislation and requirements of international standards. In addition, the challenges and problems faced by auditors auditing non-financial assets of government agencies are highlighted. It is proposed to expand the concept of audit effectiveness from the “3E” to the “9E”, which provides a deeper assessment of performance, covering various factors. Based on the study, the key areas of the strategy for auditing non-financial assets of public institutions, including improving the audit system, identifying and managing risks and introducing modern technologies, were formulated. These findings are valuable for auditors, financial managers, civil servants and resource management experts as they provide practical recommendations for improving audit performance and the efficient use of non-financial assets
Keywords:
budget programmes; transparency; concept of efficiency; areas of implementation; non-financial assets
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