The strategy of institutional reform of the supreme audit institution: the case of Ukraine

Abstract

The paper aims to define the strategic goals of the Accounting Chamber of Ukraine’s institutional reform. Comparative analysis, a desktop study of United Nations, INTOSAI, OSCE, Verkhovna Rada of Ukraine, the Accounting Chamber of Ukraine’s documents, theoretical studies, statistical information, analytical data prepared by the state and non-state bodies became the methodological basis of the research. Desktop study of documents is combined with the processing the empirical data collected by the author during the questionnaire survey among experts in independent audit and state control area. The article deal with the developing a strategy for institutional reform of the Ukraine’s supervisory system in the direction of public audit institution development. It was determined that successful implementation of the public audit institution is only possible subject to a high level of public credibility. The authors have proposed of the structure of strategic implementation plan of the public audit in Ukraine. Given the current state of public audit institution transformation, highlighting the following four strategic goals is appropriate: shaping an entire system of public audit; adopting regulatory acts based on the harmonization with world standards; staffingthe public audit system; information and technical support of public audit bodies functioning. As a result of the proposed strategy realization the transforming the control system according to world standards and good governance requirements must take place focused on economic development maintenance and SustainableDevelopment Goals achievement.