Perception of Accounting and Auditing Standards by Users in Context of Formation of Institutional Openness in Regulation

The article is devoted to the perception evaluation of standards strength of accounting and auditing in the context of institutional openness of accounting and auditing regulators. For perception evaluation of the standards strength of accounting and auditing in Ukraine, in comparison with other jurisdictions, index from global competitiveness report 'Standards strength of accounting and auditing' is used. It is revealed that most of the countries from global competitiveness report use the same set of standards (IFRS, ISA) as Ukraine. However, Ukrainian users evaluate the strength of these standards much lower than in other jurisdictions. It is proven that such situation can be explained by the difference in the institutional environment of standards use. Such conclusion follows from the analysis of the institutional provisions of accounting theory. The necessity of improvement of institutional openness of regulator of accounting is substantiated by establishment of an independent regulator of accounting in Ukraine, which will regulate based on compromise rather than by consensus. Such approach will ensure the proper level of attraction of users to develop standards and other regulatory documents