Directions of digitalization of going concern audit – a prerequisite for its efficiency increase

Abstract

Introduction. In modern conditions, digital transformation is the main means of improving business performance. Constant competition and changing market conditions force business entities to resort to new ways of increasing the efficiency of business processes and adapting to new conditions. Digital technologies have great potential in solving this problem. As the country’s economy continues its path of digital transformation, the interest of audit firms in the development and implementation of digital technologies in their activities is growing. This determines the relevance of this study. Purpose. The article aims to investigate and outline the main areas of digitization of the going concern audit of enterprises. Methods. In the process of writing the article, the authors used general scientific methods of scientific research. The dialectical method of scientific knowledge of economic phenomena and processes became the basis of the study of the concept of «audit digitalization». Such methods as grouping, comparison and specification made it possible to assess the directions of digitization of the going concern audit of enterprises. The abstract-logical method was used when presenting the problems of audit digitalization. The use of a graphic method ensured the visibility of statistical data and research results. Conclusions. The concept of «audit digitization» is revealed. The reasons for the transition to digital technologies in all spheres of the economy, including audit. The directions of digitization of the going concern audit of enterprises are described. The basic problems and risks associated with the digital audit process are presented. Prospective directions for the further development of audit activities are considered, among which continuous and virtual audits are key. The results of the study indicate that the active digital transformation of the economy affects all spheres of activity, and the auditing sphere is no exception. Discussion. Despite the significant volume of scientific research, which is related to the analysis of the impact of digitalization on audit activity and the identification of promising directions of digital transformation of audit, it is important to search for the restraining factors of the digitalization of the going concern audit. These questions can be the object of new scientific research.