The article examines the effectiveness of public oversight of audit activities in the context of the European audit regulatory model. To achieve the research objective, systemic, comparative and regulatory analyses, a structural and logical approach, and generalisation were applied. The relationship between the institutional independence and professional capacity of the public oversight body is examined as a prerequisite for the appropriate quality of oversight decisions. Risk-based approach and proportionality are considered as interrelated principles determining the prioritisation, focus and intensity of oversight procedures. It is demonstrated that the assessment of an auditor’s professional judgement should be based on the sufficiency of the grounds on which it was formed rather than on its consistency with an alternative judgement of an inspector. It is proposed that the effectiveness of public oversight should be assessed not by the number of oversight activities performed or deficiencies identified, but by taking into account the system’s ability to identify risks to audit quality, determine the causes and systemic nature of deficiencies, assess the risk of their recurrence, and evaluate the effectiveness of corrective actions. Root cause analysis and the generalisation of inspection findings are identified as components of preventive regulatory impact. Five groups of criteria for assessing the effectiveness of public oversight are proposed: institutional capacity, quality of the oversight process, regulatory outcomes, market outcomes, and societal outcomes. The directions for the further development of the Ukrainian public oversight system are identified, focusing on improving the quality of the oversight process, strengthening its preventive effect, and deepening European integration. The practical value of the findings lies in their potential use for improving approaches to assessing the effectiveness of public oversight and developing risk-based oversight activities
Follow-up on audit recommendations is a crucial step in ensuring that oversight efforts do not end with the identification of findings but lead to corrective actions and improvements in governance. However, the effectiveness of follow-up is often influenced by organizational capacity, the commitment of those responsibl...
Juneti, Sukardi, Dwi Suharnoko· International journal of res...· 0 citations
Amid the complexity of business processes, audit has transformed from a tool for retrospective financial control into a mechanism for assessing operational efficiency and supporting the strategic development of enterprises. At the same time, performance audit in the private sector remains insufficiently standardized du...
L. Hnylytska, Serhii Khmelnytskyi· Oblik i finansi· 0 citations
This study seeks to explore the control of the legislature over the state's public budget especially within the context of Iraqi constitutional system of 2005 as one of the important areas that consolidate the principle of separation of powers and serve as mechanism that consolidate financial transparency in relation t...
Ayatollah Jalili, Ali Subhi Abdul Jabbar Al-Azzawi· Natural Resources for Human...· 0 citations
This research aims to elucidate the legal foundations upon which the evolving role of oversight bodies in combating corruption in Iraq is based. This is achieved through an analysis of the constitutional and legislative framework governing their operations, and by examining the impact of legal and constitutional develo...
A. Mashhadi, T. Al-Azzawi· Interdisciplinary Studies in...· 0 citations
The primary objective of this paper is the scientific research and critical analysis of the derivative action as a specific procedural legal instrument for protecting the pecuniary interests of companies with state-owned capital. The study seeks to determine how this mechanism, which inherently derogates fundamental co...
Ilja Lučić· Pravo - teorija i praksa· 0 citations
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