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Public Interest in the Context of the Ethical Basis of Professional Judgment in the Field of Accounting and Auditing
Kryvoruchko M. Y., Moisieienko A. R.

Kryvoruchko, Mykhailo Yu., and Moisieienko, Alona R. (2024) “Public Interest in the Context of the Ethical Basis of Professional Judgment in the Field of Accounting and Auditing.” Business Inform 10:738–738.
https://doi.org/10.32983/2222-4459-2024-10-738-738

Section: Accounting and Auditing

Article is written in Ukrainian
Downloads/views: 0

UDC 378.147.017:17]:657.6

Abstract:
The article is devoted to the study of public interest in the context of the ethical basis of professional judgment in the field of accounting and auditing. This study involved the use of such methods as generalization, systematization, analysis, synthesis, as well as monographic and tabular methods. A review of the works of scientists on the essence of professional judgment of accountants and auditors, its role in the activities of the enterprise is carried out. Special attention is paid to the issue of the ethical component of professional judgment, its normative support at the international and national levels. Attention is focused on the importance of the anti-corruption component in the process of training and work of accounting specialists in the light of the protection of public interest. It is concluded that the public interest occupies a central place in the work of accountants and auditors, serving as an ethical basis for professional judgment. It is determined that the activities of accountants and auditors are based on professional judgment – the ability to assess the facts of the economic life of a business entity under the condition of multivariance on the basis of education, professional experience and documentary evidence. The relevance of professional judgment is growing in the context of modern security challenges and conditions of uncertainty. It is substantiated that by its structure the professional judgment of the accountant and auditor consists of subjective assumptions and objective circumstances of its formation. It is indicated that professional judgment also plays an important role in ensuring sustainable development. It is studied that the ethical component of professional judgment does not directly depend on the number of regulatory rules governing activities in the field of accounting and auditing. A simple mechanical increase in such rules can lead to an increase in conflicts and/or contradictions between their achievement, which complicates decision-making by the accountant and the auditor. It is proved that the «cornerstone», the «core» of the profession of accountant and auditor, and therefore their professional judgment, should be the public interest – taking into account the needs and requests of a wide range of interested persons. In the light of public interest protection, an important role is played by understanding the place of professional activity of accountants and auditors within the framework of strengthening anti-corruption policy, especially its constructive type, aimed at increasing incentives to counteract it. Further research on the ethical basis of professional judgment can be directed to the study of the practice of monitoring compliance with the public interest by accountants and auditors in their professional judgments.

Keywords: public interest, professional judgment, accounting and auditing, professional ethics.

Tabl.: 7. Bibl.: 17.

Kryvoruchko Mykhailo Yu. – Candidate of Sciences (Economics), Associate Professor, Department of Economics, Management and Administration, Cherkasy State Business College (243 V. Chornovola Str., Cherkasy, 18028, Ukraine)
Email: [email protected]
Moisieienko Alona R. – Applicant, Department of Economics, Management and Administration, Cherkasy State Business College (243 V. Chornovola Str., Cherkasy, 18028, Ukraine)
Email: [email protected]

List of references in article

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