INTERNAL QUALITY CONTROL OF AUDIT SERVICES

Abstract

The author of the article argues that it is important to obtain theoretical and practical knowledge in the development of auditing services, taking into account the factors necessary for quality assurance. Previous studies of Ukrainian scientists were focused on insuring the quality of the auditing process. The article considers theoretical and practical ways of the implementation of internal quality control in the rendering of non-auditing services, which differ from auditing. Research indicates that the development of auditing services became very active and scientists are beginning to pay more attention to other non-audit services, which helps to develop new directions in the research for insuring quality of internal and external audit. The problematic issues regarding the quality of audit services and the ways of their solution in the practice of Ukrainian auditors where outlined. The author points out different levels of regulatory support for quality assurance of auditing services. Other non-audit services, which are, in practice, comprise substantial for some, and main part for majority of the auditing firms, remain ignored by scientists and professional audit organizations in Ukraine. The author’s idea of standardization is that the internal standards must be individual and take into account the specifics of a particular firm. Depending on the services provided by the auditors, each audit firm can determine their standards individually. At the same time, it is clear that the availability of typical standards significantly improves the development of internal standards, especially in small auditing firms. Standards based on firm's own specifics will allow to optimize the content and time it takes to standardize process of audit services. In any case, for the development of firms own standards, the auditors should determine which standards should be developed, as well as the degree of detail of these standards