In today's complex business landscape, robust corporate governance and financial compliance are essential for maintaining organizational integrity, accountability, and transparency. This review examines the key components and strategies necessary to enhance these frameworks, ensuring sustainable success and stakeholder trust. Corporate governance encompasses regulatory compliance, risk management, ethical conduct, and stakeholder engagement. Adherence to laws and regulations, such as the Sarbanes-Oxley Act (SOX) and the General Data Protection Regulation (GDPR), is foundational in minimizing legal risks and safeguarding reputation. Effective risk management involves identifying, assessing, and mitigating potential threats to an organization’s financial health and operational integrity through strong internal controls and regular audits. Promoting ethical conduct within organizations is crucial for maintaining trust and reputation. Establishing codes of conduct, ethical guidelines, and whistleblower protections fosters a culture of integrity. Transparent communication and stakeholder engagement ensure that organizational activities align with stakeholder interests and expectations. Enhancing accountability and transparency involves several key strategies. Strong board oversight and independence, characterized by diverse and skilled board members, ensure balanced and objective decision-making. Regular internal and external audits verify financial accuracy and compliance, identifying areas for improvement. Leveraging technology and data analytics is pivotal in modern compliance efforts. Technologies like blockchain, artificial intelligence (AI), and machine learning automate processes, improve accuracy, and provide real-time insights into financial performance and risk management. Transparent regulatory reporting and disclosure practices, adhering to standards such as the International Financial Reporting Standards (IFRS), further enhance stakeholder trust. Continuous training and education for employees and board members on corporate governance principles, regulatory requirements, and ethical standards are vital for fostering a culture of compliance and accountability. Strengthening corporate governance and financial compliance is fundamental for enhancing accountability and transparency. By adopting comprehensive regulatory frameworks, leveraging technology, and promoting ethical conduct, organizations can build trust, mitigate risks, and ensure sustainable growth in a dynamic business environment. Keywords: Corporate Governance, Global Corporations, Harmonization. 

Strengthening corporate governance and financial compliance: Enhancing accountability and transparency

Purpose. The purpose of the article is to develop the model for assessing audit risk based on fuzzy logic, systematization of audit actions in the presence of risks and identification of possible risks of enterprises. 
Methodology / approach. The paper uses general scientific methods of object research and specific methods of economic and economic-mathematical research, in particular, the method of analysis to study the types and structure of audit risks, their sources and factors of influence; induction, deduction, cluster analysis and synthesis to identify audit risks; analogies, fuzzy logic and expert survey in building a model of audit risk assessment; deductions to determine how to manage the risks of auditing; the main provisions of integrated risk management in the study of the organization of risk management in the audit firm.
Results. The scale of economic crimes and fraud in Ukraine in the context of identifying potential audit risks of agricultural enterprises is analyzed. The distribution of auditing entities by regions of Ukraine is analyzed. The use of methodical tools of fuzzy logic for risk assessment of audit activity is scientifically substantiated and the corresponding model of assessment of audit risk is developed. They make it possible to take into account qualitative factors that affect the risks of auditing and the auditor’s uncertainty in assessing these factors.
Originality / scientific novelty. Theoretical, methodological and organizational principles of identifying and assessing the risks of auditing of agricultural enterprises have been further developed. A model of risk assessment of auditing activities based on fuzzy logic has been developed for the first time, which has a number of advantages, in particular, it allows operating with verbal assessments, takes into account the auditor’s uncertainty in assessing risk factors and is flexible and adaptive. A step-by-step construction of a model for assessing the risks of auditing activities based on fuzzy logic is proposed.
Practical value / implications. The following research results are of practical value: audit risk assessment model using fuzzy logic apparatus (after training the model on experimental data); methods of risk management of auditing activities. The proposed methods of identifying and assessing the risks of audit activities make it possible to increase the efficiency of their management to reduce them to an acceptable level.

https://are-journal.com/are/article/download/404/281

Аналіз потенційних ризиків аудиту аграрних підприємств

The process of decision making based on analytical information in social audit is described in this paper. Possibility of data-driven models using during decision making on different levels of management is considered. Analysis of the mechanisms of formation and use of information support provides an opportunity to optimize the processes of collection, processing, storage and use of information in various areas, in particular in social audit. To improve the order of formation of information support of social audit, information requests at different levels of government are analyzed: global; macro levels; meso levels; micro level, which includes strategic, tactical and operational sublevels. The conceptual model of information support of social audit developed on this basis, with the description of its tasks, functions, components and the order of formation of information base, provides reception of the full and reliable information necessary for acceptance of the corresponding administrative decisions of a social direction. 

Information Support of Social Audit

The process of decision making based on analytical information in social audit is described in this paper. Possibility of data-driven models using during decision making on different levels of management is considered. Analysis of the mechanisms of formation and use of information support provides an opportunity to optimize the processes of collection, processing, storage and use of information in various areas, in particular in social audit. To improve the order of formation of information support of social audit, information requests at different levels of government are analyzed: global; macro levels; meso levels; micro level, which includes strategic, tactical and operational sublevels. The conceptual model of information support of social audit developed on this basis, with the description of its tasks, functions, components and the order of formation of information base, provides reception of the full and reliable information necessary for acceptance of the corresponding administrative decisions of a social direction.

: The present study was an attempt to investigate the effect of ethical standards including ethical environment (instrumental environment, favorite environment, independent environment, normative environment, efficiency-based environment and regulation-oriented environment), professional commitment, ethical values and ethical ideology (idealism and relativism) on performance of auditors. The population of this study consists of auditors of auditing firms affiliated with Iranian association of Certified Public Accountants and certified independent auditors. To calculate the number of samples and to take samples, coceran fornulation and the avilable sample methods have been respectively used. This study was conducted in 2020. 300 auditors participated in the present study and completed the questionnaires distributed among them. The partial least squares (PLS) method was used for modelling and hypothesis testing purposes. The results show that all the subsets of ethical environment (instrumental environment, favorite environment, independent environment, normative environment, efficiency-based environment and regulation-oriented environment) have a positive and significant correlation with auditor performance. As for the subsets of ethical ideology, idealism and relativism were found to have a significantly positive and a significantly negative correlation with the performance of auditors, respectively. The

/pdf/the-impact-of-ethical-standards-including-ethical-1imwluxvo7.pdf

The Impact of Ethical standards including Ethical Environment, Professional Commitment, Ethical Values and Ethical Ideology on Performance of Auditors.

The purpose and tasks of the paper are to develop effective tools for the internal control at audit firms, including monitoring and self-assessment, to improve the quality of professional performance. The relevance of this study is determined by the high expectations of society to the quality of audit opinions. The information quality according to the results of the audit is achieved by adhering to strict professional standards and ethical conduct. Audit companies organize control over the implementation of ethical principles, which requires addressing issues of monitoring and self-assessment in the management of ethics. Methodology. The authors used deductive and empirical methods. The material for the development of conclusions on the organization of monitoring is collected upon the results of a survey of 150 auditors, accountants and managers of companies. 96 full responses (64% of all respondents) were evaluated by five experts. The questions in the survey are designed to identify the audit experience of the ethics internal control organization in audit companies, and the results of its compliance assessment. Automated application capabilities of analysis and modeling of the program “1-C Accounting 8.0” were used for data processing. Results. The authors propose the auditors’ compliance with ethical testing standards and calculations of the effectiveness indicators of the ethical values compliance as tools for assessing. The authors see the organization of such an element of internal control in the need to formulate clear ultimate goals for auditors. As goals need to be measured, the following criteria for assessing their achievement are proposed: ethical values are known and adhered to; senior management is aware of the ethical foundations and they serve as an example; staff understands and adheres to the code of conduct; active promotion of ethical principles by senior management. The authors conclude that ensuring leadership of senior management, both by example and in behavior is an important component of the implementation of organizational measures for ethical behavior. If such an ethical manner in the behavior of the company’s management is achieved, it is an important positive contribution to the organization of the ethical behavior management: employees trust and feel confident in management decisions. Practical implications. Achieving the goals of managing ethical behavior of senior management can be recognized by the following criteria: senior management is recognized by co-workers as an example of high standards of behavior, willingness of senior management to be leaders in these issues and take action on misconduct, understanding individual and collective responsibility for compliance with high ethical standards. The implementation of objectives and organizational measures will achieve the defined criteria by monitoring the behavior of auditors on compliance with ethical standards. Taking into account the experience of audit companies, revealed during the survey, the authors propose to organize the monitoring of ethical behavior as an open, honest and transparent process. The awareness of all employees and ensuring confidence in its conclusions and results are the conditions for its establishment. According to the authors, the abovementioned is achieved through the availability of annual reports, regular assessment of the strengths and weaknesses of audit behavior, dissemination of information on the example of senior management in ethical behavior, staff awareness of the value of monitoring ethical behavior and their participation in annual surveys. Value/originality. The authors propose criteria for monitoring and self-assessment: incentives for all employees for good conduct, application of incentives and sanctions to overcome immoral acts, informing employees, effectiveness of incentives taking into account the specifics of high ethical culture of the audit company. The proposed measures will strengthen the elements of the internal quality control system and can be used in external evaluation of the quality of the audit company’s activities. Implementation of proposals can lead to the organization of audit work on a high quality, responsible basis, which can increase the trust of users in the results of audit activity.

Management of ethical behavior of auditors

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Management of ethical behavior of auditors