INTERACTION OF INDEPENDENT AND STATE AUDIT: INTERNATIONAL EXPERIENCE AND DOMESTIC FEATURES

The instability of the external environment and the lack of state support require economic entities and government agencies to react immediately to its changes, only under this condition can we survive and function successfully in market relations. It is the audit that helps to make informed decisions and react quickly to economic changes. The article considers the features of audit as one of the forms of control, identifies the conditions under which the importance of audit, as an effective tool for ensuring the reliability of financial information of public and private sectors. The practical aspects of the existence of audit in Ukraine as a verification process that exists at different organizational levels are studied. All auditing entities operating in the public sector and business have been identified. Features and distinctive features of audit in the public and private sectors are considered. The normative-legislative base and legal bases of state and independent audit are studied, the points of their interaction for creation of the system of effective financial control are outlined. To compare the cooperation of all forms of audit, the world experience of the world's leading countries in the use of audit methods in various sectors of the economy and its implementation in the public sector is considered. Prospects for the development of further cooperation between state and independent audit based on international practice are outlined. It is determined that the latest economic changes in Ukraine and globalization, lead to changes in the functional purpose of control and bring it to the level of a tool to improve the effectiveness of interaction between different actors. This reduces the level of information asymmetry and ensures the implementation of the main goal of the general system of state control — economical, efficient and transparent management of public resources. It is concluded that in carrying out reforms in the public sector, the government will increasingly need independent professional objective opinion not only on the implementation of budget programs and local budgets, but also on activities not directly related to funds or property.