Том 2, випуск 1

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Сorporate Corruption and Functions of Independent and Internal Auditors
(2017) Ivakhnenkov, Sergiy
The article aims to clarify the modern concept of corruption, identify its type, and define the role of external (independent) and internal auditors in the fight against corporate corruption. Another objective is to start a debate on the development of accounting standards and auditing techniques to detect corruption in business. The article argues that the lack of clarity regarding the responsibilities of independent auditors related to corporate corruption may induce auditors to ignore their responsibility for identifying corruption that could have a significant effect on financial reporting (because it is not required by the auditing standards). The audit standards should be modified to view corruption not only as internal fraud, which may have a significant effect on financial reporting, but also as an unlawful act.