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Audit of the Continuity of Activities of Agribusiness Enterprises under Martial Law
Nazarova K. O., Malko D. D.

Nazarova, Karina O., and Malko, Daniela D. (2024) “Audit of the Continuity of Activities of Agribusiness Enterprises under Martial Law.” Business Inform 11:197–203.
https://doi.org/10.32983/2222-4459-2024-11-197-203

Section: Accounting and Auditing

Article is written in Ukrainian
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UDC 657

Abstract:
Enterprise business continuity audit is a very important mechanism for ensuring that the business is stable and sustainable, especially in crisis situations. In this case, audit methods should be adjusted to such unforeseen conditions as martial law, which directly affects agribusiness. It should be noted that the agro-industrial sector in Ukraine had a leading position among global exporters before the start of the war. For example, in 2021, the products of this sector accounted for about 40% of all exports of our country. However, the war has become a great challenge for farmers, as it has destroyed a large amount of equipment, stocks, warehouses, etc. Along with that, it should be noted that the enterprises were still able to survive, restore crops and continue cooperation in the international market. This study shows that the risks to agribusiness have increased significantly due to the war. One of them is the high risk of loss of assets and profitability, as well as an increase in transportation costs. In response to these challenges, an important tool for ensuring the continuity of agribusiness activities is a continuity audit, which must be adapted to the conditions of martial law. The audit should include not only standard financial indicators, but also an assessment of specific risks associated with the war. This allows us to quickly respond to changes in production and logistics conditions, as well as to assess the efficiency of anti-crisis measures aimed at minimizing losses. An important aspect of the study was the identification of the need to adjust audit methods to take into account risks, in particular the shortage of material and technical resources, disruption of logistics chains and physical inaccessibility of cultivated areas. In this context, special attention is paid to risk management methods such as diversification of production and adaptation to changing conditions. Furthermore, State support and the creation of conditions for the development of investment projects in agribusiness are important to ensure the sustainability of the sector. The study also shows that for the further development and stability of agribusiness under martial law, it is necessary to improve the regulatory framework and standards for continuity auditing. This includes creating more flexible approaches to auditing in crisis situations and developing tools for risk assessment, particularly in industries facing physical and financial threats. To increase the efficiency of the audit, it is necessary to expand research on the adaptation of the audit to changing crisis situations and scenario models that allow efficient response to potential threats to the continuity of agribusiness. Thus, the adaptation of continuity audit methods for agribusiness under martial law is a key element to ensure the stability of enterprises and maintain their profitability. The use of flexible, adapted approaches to risk assessment allows you to reduce the impact of negative factors and helps to support production and financial processes even in the most difficult conditions.

Keywords: audit, agribusiness enterprise, martial law, continuity, evaluation criteria, auditing standards.

Bibl.: 9.

Nazarova Karina O. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Financial Analysis and Audit, State University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]
Malko Daniela D. – Masters Student, Faculty of Finance and Accounting, State University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]

List of references in article

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