Збірник наукових праць Державного податкового університету

RISKS WITHIN E-AUDIT AND WAYS TO MINIMIZE THEM

Kostiantyn Bezverkhyi, Iryna Parasii-Verhunenko, Volodymyr Hordopolov — Thu, 29 May 2025 00:00:00 +0300

The purpose of the article is to identify the key risks that may arise in the process of implementing electronic audit, and also to formulate the areas of action to minimize their strength or probability of occurrence. The article uses general scientific and special scientific research methods. General scientific methods include deduction, analysis, classification, and others. Special scientific methods include risk mapping, risk scoring, rating, and others. The research methodology consists of working with sources at the first stage with the identification of risks that are characteristic of the electronic audit process when used for tax control purposes. The next step is to classify the existing risks, identify the most significant ones, and conduct a scoring assessment in terms of probability of occurrence, potential impact, and weight. Upon completion of the normalization of the weight of each risk, a rating is performed, and a risk signal map is built to visualize the results. As a result, conclusions are formulated regarding the prioritization of existing risks and threats in the process of implementation and use of electronic audit of the State Tax Service of Ukraine. The paper investigates the risks of electronic audit and ways to minimize them in the context of digitalization of control procedures. The main types of risks are systematized and classified according to various criteria: stages of e-audit, source of occurrence, type of technical problems, interaction with tax authorities, nature of violations detection, e-audit results, human factor impact and information security. The most significant risks have been identified, namely artificial intelligence hallucinations, hacker interference with the system, lack of programming specialists, overdependence on service providers, use of data for illegal purposes, and software incompatibility. The identified risks are assessed in terms of probability and potential impact. The author proposes a set of measures to minimize each of the identified risks aimed at improving the efficiency and security of electronic audit systems. The value of the study is manifested in both practical and theoretical aspects. The practical value lies in the fact that the results obtained allow prioritizing the work with risks when implementing electronic audit, as well as in the further improvement of the mechanism, to maximize the efficiency of the process and minimize the likelihood or severity of destructive phenomena. The theoretical value lies in the further development of the theory of e-audit risk management.

THE DEVELOPMENT OF MODERN FINANCING MODELS IN UKRAINE AND THE WORLD (ON THE EXAMPLE OF BNPL (BUY NOW, PAY LATER): REASONS FOR POPULARITY, CONSEQUENCES, PROBLEMS

Antonina Boldova, Alisa Vakhovska — Thu, 29 May 2025 00:00:00 +0300

The article is devoted to consideration of modern domestic and international financing models that are gaining more and more popularity among users. In particular, much attention is paid to the BNPL-model (abbreviation from "buy now, pay later"), which is gaining popularity due to its flexibility and simplified use proces. Тhe purpose article is to summarize data on the development of modern financing models in Ukraine and the world using the example of the BNPL system, as well as to determine the reasons for their popularity, predict possible consequences and identify problems. The peculiarity of this model is that it allows consumers to buy a product or service today and pay for it in installments, sometimes even without additional interest. This makes it attractive not only for the young generation, but also for the modern user who seeks to minimize financial obligations in the short term. In this article the research methods used were primary methods that were used to collect information, study sources, observation and survey. Secondary methods were used to process and analyze the obtained data - quantitative and qualitative data analysis, their systematization. The methodology of this article consists in generalizing theoretical materials on the topic - to outline the main approaches and trends in the development of modern financing and lending models by banks in general; comparative - to study the dynamics of indicators of the development of modern financing models, in particular BNPL; systematization – to systematize scientific approaches and find appropriate recommendations. The article noted the innovativeness this financial model and the popularity in Ukraine, where it is quickly gaining popularity among consumers, although it emphasized the threat and risk in terms of debt accumulation and the lack of influence on the credit history. The value article in the description of only one financing method trends in the development of modern models of financing and lending by banks can be the subject of further scientific research and development, as well as in predicting possible consequences and identifying problems in other modern financing models in Ukraine and the world. The finding of this study consists of generalized conclusions based on the materials of the article, which reflect the main positions and indicate the achievement of the set goal.

STRUCTURAL AND ELEMENTAL COMPOSITION OF THE FINANCIAL SECURITY SYSTEM OF THE BANKING SYSTEM

Vadym Brytan — Thu, 29 May 2025 00:00:00 +0300

The relevance of the study is due to the rapid transformation of the financial environment, which creates new challenges for ensuring the financial security of the banking system and requires modernisation of existing scientific and practical approaches to determining its structural and elemental composition. In the context of the growing number and complexity of threats to the financial stability of the banking sector, it is of particular importance to develop a holistic understanding of all components of the financial security system and their interrelationships. The purpose of the study is to develop the theoretical and methodological foundations and practical recommendations for improving approaches to the comprehensive classification of the structural and elemental composition of the financial security system of the banking sector.The methodology of the study is based on the use of formalisation, decomposition and logical analysis methods to systematise the structural elements of the financial security system of banks. A systematic approach is applied to determine the relationships between individual components and their impact on the overall level of financial security of the banking system. The results of the study include: updating the main structural elements of the mechanism for ensuring the financial security of banks; expanded classification of threats to the financial security of banks by groups; systematisation and supplementation of scientific approaches to all components of the structural and elemental composition of the financial security of banks with identification of their advantages and limitations; development of directions for modernisation of methodological support for assessing the structural and elemental composition of the financial security system of the banking system. The originality of the study lies in the formation of a comprehensive approach to the definition and classification of the structural and elemental composition of the financial security system of the banking system, which creates a theoretical basis for the development of an effective system for monitoring and maintaining the financial security of banks. The practical value of the work is determined by the possibility of using the proposed approaches to adapt the existing financial security tools to the current challenges of the banking environment.

FINANCIAL POTENTIAL OF CO-INVESTMENT INSTITUTIONS AS A TOOL FOR OVERCOMING BUDGETARY LIMITATIONS IN MARTIAL STATE CONDITIONS

Anna Vysochanska — Thu, 29 May 2025 00:00:00 +0300

This article investigates the financial potential of collective investment institutions (CIIs) as an innovative tool for overcoming systemic budget constraints under martial law in Ukraine. It emphasizes the urgent need to transform the national investment model, driven by a critical shortage of budgetary resources and the dominance of defense spending within public finances. The study demonstrates that traditional public funding mechanisms are losing effectiveness in the current context and therefore require supplementation through alternative capital accumulation tools – primarily via CIIs. The research analyzes the current state of CII development in Ukraine, particularly asset dynamics from 2021 to 2024, portfolio structure shifts, and the strategic reorientation of investments toward high-growth sectors such as agribusiness, logistics, housing, and information technology. The ability of CIIs to demonstrate adaptability in crisis conditions – ensuring rapid resource reallocation and supporting financial resilience – is highlighted. Systemic, structural-functional, and comparative approaches are applied to assess the role of CIIs in forming long-term investment resources. A SWOT analysis of CII performance during wartime reveals several strengths (flexibility, professional expertise, support from international institutions), weaknesses (low capitalization, regulatory uncertainty, limited investor trust), external opportunities (participation in reconstruction, access to global investment platforms), and threats (market volatility, competition from global funds). The paper substantiates the rationale for creating a mixed-capital Recovery Investment Fund – «Code of Development» – which would consolidate resources from the state, international financial institutions, and private business within a framework of public-private partnership, strategic planning, transparency, and inclusivity. The fund would target critical post-war transformation sectors: housing, infrastructure, manufacturing, digital technologies, and green energy. International co-investment practices under crisis conditions (Israel, Singapore, South Korea, USA) are examined as relevant experience for adaptation in Ukraine. The study concludes that the development of CIIs should become a strategic element of Ukraine’s renewed financial architecture, capable of reducing fiscal pressure, stimulating investment activity, and fostering a more resilient, agile, and competitive post-war economy.

THREATENING THE FINANCIAL SECURITY OF THE STATE UNDER MILITARY OCCUPATION

Nadiia Davydenko, Oksana Hordei, Halyna Skrypnyk, Olena Novytska — Thu, 29 May 2025 00:00:00 +0300

The issue of financial security is crucial for the stable functioning of any country, especially for Ukraine, which faces numerous economic challenges and threats. In the context of globalization, transformational processes, and the rapid advancement of information technologies, the need for assessing and ensuring financial security becomes increasingly pressing. This study aims to thoroughly analyze the current problems of financial security in Ukraine, identify key threats and vulnerabilities, and develop actionable recommendations for improving the state of financial security. A wide range of research methods have been employed in this study, including analysis and synthesis, induction and deduction, as well as comparative analysis. By combining qualitative and quantitative approaches, the research provides a comprehensive understanding of the multifaceted nature of financial security issues in Ukraine. The results indicate that the main threats to Ukraine’s financial security include pervasive corruption, political instability, external economic pressures, and the inadequacies of existing financial institutions. These factors not only undermine public trust but also hinder economic growth and development. The study concludes that there is an urgent necessity for the implementation of new monitoring and risk control mechanisms to mitigate these threats effectively. The originality of this work lies in its systematic approach to studying the problems of financial security in Ukraine and the development of specific, evidence-based recommendations. These recommendations can be utilized by government bodies and financial institutions to optimize their activities, enhance transparency, and build resilience against both internal and external shocks. By addressing these critical issues, Ukraine can work towards achieving a more secure financial future, ultimately contributing to the overall stability and prosperity of the nation.

DIGITALIZATION OF STATE FINANCIAL CONTROL IN THE SPHERE OF PUBLIC PROCUREMENT IN UKRAINE

Olha Ivanova, Oleksii Sydorenko, Oleh Skabardin, Andrii Protsenko — Thu, 29 May 2025 00:00:00 +0300

The article substantiates the theoretical and methodological principles and practical approaches to the digitalization of state financial control in the field of public procurement in Ukraine. The digital transformation of public administration in the context of the country's post-war reconstruction puts forward new requirements for transparency, efficiency and accountability in the use of budget funds. The authors emphasize the advantages of using digital tools in the implementation of state financial control and in the process of ensuring the implementation of its results, both in general and in the field of public procurement, in particular. The paper analyzes the current state of the information mechanism of state administration, highlights the main digital platforms (Е-data, BI Prozorro), their functionality and potential for automated monitoring and detection of risky operations. Key problems of digitalization are identified, in particular, the imperfection of IT infrastructure, staff shortage, fragmentation of legislation and insufficient level of interoperability between systems. In addition, the relationship between the level of effectiveness of the use of digital technologies in the implementation of state financial control and the implementation of its results and the level of effectiveness of the information mechanism of state administration is established and described in detail. In this context, all causal relationships are shown and theoretical and utilitarian recommendations for improving the latter are given. Accordingly, the authors substantiate the directions for improving both the information mechanism of public administration and other processes related to ensuring the development of digitalization of public financial control, including in the field of public procurement. Among them, the authors recommend including: creating a single digital environment, implementing intelligent analytical systems based on a risk-oriented approach, increasing the digital literacy of employees. A model of an information and digital mechanism of financial control is proposed and strategic objectives for its development are identified. The results of the study are aimed at increasing transparency, reducing corruption risks and ensuring the rational use of public finances.

THE ROLE OF DIGITALIZATION IN IMPROVING ENTREPRENEURSHIP SUPPORT MECHANISMS IN THE PUBLIC ADMINISTRATION SYSTEM

Bohdan Kysil — Thu, 29 May 2025 00:00:00 +0300

The study determined that a necessary condition for the development of electronic communication between business and public administration bodies is to increase the level of digital literacy and improve the skills of staff of government institutions. The development of the e-government system is one of the areas implemented by the government to simplify the processes of providing administrative services, facilitate business by optimizing and facilitating the processes of submitting reports, obtaining certificates, increasing the transparency of procedures for participating in tender procurement, and is also one of the ways to reduce the level of corruption and bureaucratic manifestations. The processes of electronic service and support of business activities to a certain extent require improvement in terms of increasing the level of their automation and reducing the level of possibility of external intervention and even indirect involvement of government employees. Digital technologies in the field of public administration are a positive factor not only from the point of view of optimizing business processes, but also from the point of view of the state, as a mechanism for combating the laundering of funds obtained through criminal means. The purpose of the study is to analyze the effectiveness of the implementation, development and role of digital administrative services in the field of public administration and their impact on improving the interaction of business entities with public administration bodies. Research methods. The solution to the set goal and objectives was achieved using general scientific, statistical and comparative methods, which were used in analyzing the state of development of digital technologies in public administration bodies and the prospects for their further improvement and development. Research results. The analysis identified the main advantages and disadvantages in the development of digital communication mechanisms between government bodies and businesses, as well as ways to support entrepreneurship in the public administration system. Originality of the study. During the study, it was proposed to introduce at the legislative level the mandatory creation of an email address by a business entity with the entry of relevant information into the registration data, which will subsequently be recognized as an official email address.

FINANCIAL MONITORING IN UKRAINE

Nataliia Moskalenko, Karina Didkivska — Thu, 29 May 2025 00:00:00 +0300

The research is devoted to the analysis of the role of the National Bank of Ukraine in ensuring the effectiveness of financial monitoring as a key element of ensuring the financial security of the state. The paper highlights the peculiarities of financial monitoring in Ukraine, identifies the main tasks and mechanisms for its implementation in the context of current economic challenges. The legal framework governing financial control in the country, including legislative initiatives and Ukraine's international obligations in the field of combating money laundering and terrorist financing (AML/CFT), is considered. The role of state regulators, in particular the National Bank of Ukraine, in creating an effective system of supervision over financial transactions and ensuring an appropriate level of coordination between banking and non-banking institutions is investigated. Particular attention is paid to the adaptation of the national financial monitoring system to international standards and recommendations of such organisations as the Financial Action Task Force on Money Laundering (FATF), the Organisation for Economic Co-operation and Development (OECD) and the Basel Committee on Banking Supervision. The author analyses real-life examples of violations in the field of financial monitoring, which demonstrate the existing gaps in regulation and indicate the need to improve regulatory policy. Potential areas for improving the financial control system are identified, including increasing the transparency of financial transactions, introducing the latest data analysis technologies, expanding the possibilities for cooperation between government agencies and financial institutions, and increasing liability for violations in this area. The paper formulates practical recommendations for further development of the financial monitoring system in Ukraine aimed at increasing its effectiveness in the context of growing financial threats and economic instability. The emphasis is placed on the need for an integrated approach to financial supervision that takes into account both national peculiarities and international experience in combating financial fraud and money laundering.

THE ROLE OF THE BANKING SECTOR IN ENSURING MACRO-FINANCIAL STABILITY IN UKRAINE IN THE CONTEXT OF LIMITED EXTERNAL CAPITAL

Svitlana Onyshko — Thu, 29 May 2025 00:00:00 +0300

This article substantiates the importance of building a solid financial foundation to ensure security, defense, and social needs in Ukraine, as well as entering the post-war recovery trajectory. It is noted that this requires a strategic reorientation of financial policy towards mobilizing domestic resources, considering the current realities. The complexity of this task is due to the accumulation of systemic problems linked to the loss of stability in the national economy and significant restrictions on external sources of financing caused by military actions and geopolitical instability. A special emphasis is placed on the role of macro-financial stability of the financial market, particularly its banking segment, given the leadership of banks in the asset structure of key financial institutions. The author highlights the urgency of evaluating implemented reforms, clarifying causal relationships that determine the state and further development of the banking sector, including the use of relevant financial instruments and making appropriate management decisions. The key factors that contributed to the resilience of the banking sector during the COVID-19 pandemic and the full-scale military invasion in 2022 are identified. At the same time, the need to strengthen the internal resilience of the banking system in this context is outlined, given its importance for ensuring macro-financial stability. Noting the role of the domestic debt market in accumulating financial resources within the country, the author emphasizes that banks increase their issuance of debt securities mainly through instruments issued by the state. This allows the government to maintain macro-financial stability without critical dependence on external creditors. The effectiveness of this approach lies in transforming banks from mere financial intermediaries into crucial instruments of budget support, which also warrants a positive assessment of their potential role within the strategic reorientation of financial policy toward mobilizing domestic resources. The process of displacement of corporate sector debt securities from the domestic financial market is discussed, which is associated with the shortage of resources in private business and its reduced contribution to the formation of the country's financial base. It is emphasized that principles of balance and adaptability to domestic economic realities and global financial environment fluctuations should underpin the strengthening of the country’s financial development capabilities. An essential part of this task involves clarifying interrelations, identifying contradictions, and seeking appropriate compromises to balance the interests of individual economic entities, particularly banks, thus enabling the full realization of the potential of financial institutions to achieve this strategic goal.

THE IMPACT OF WAR ON BUDGET TRANSPARENCY IN UKRAINE

Dmytro Sydorenko — Thu, 29 May 2025 00:00:00 +0300

The purpose of the article is to address current issues of budget transparency as a crucial tool for contemporary public financial management, promoting efficiency, accountability, and public engagement in the budgeting process. It emphasizes the importance of transparency for reducing corruption, enhancing public trust in government, strengthening social stability, and ensuring effective assessment of budgetary expenditures. The primary challenges to budget transparency in Ukraine, significantly exacerbated by the full-scale Russian invasion, have been analyzed. The deterioration of Ukraine’s position in international rankings, particularly the Open Budget Index and SIGMA, has been highlighted due to restricted access to budget information and the temporary suspension of standard budgetary procedures under martial law conditions. The conducted analysis of the invasion’s impact on Ukraine’s budget transparency as an essential component of modern public financial management – ensuring efficiency, accountability, and citizen participation – enabled the formulation of recommendations for enhancing budget transparency based on international standards and best practices. During the research, the following research methods were utilized: the systemic approach, as well as methods of factual and situational analysis and synthesis, to evaluate budget transparency based on international indices and rankings. The research findings indicate positive achievements in the field of budget transparency that have remained relevant even under wartime conditions. These include the continued functioning of the electronic public procurement system, regular publication of data by the State Treasury Service of Ukraine, and the successful launch of the DREAM platform, which collects, organizes, and publishes open data on all stages of recovery projects in real-time, implementing high standards of transparency and accountability. However, the study also revealed a number of persistent problems, such as limited access to budgetary information, insufficient public participation in the budgeting process, and low transparency of local budgets. Although Ukraine has made significant progress in advancing budget transparency, considering the current challenges and wartime impacts, further measures should aim at improving the legal framework, enhancing public oversight, and increasing citizen involvement. Special emphasis should be placed on restoring full public access to budgetary information and expanding the use of innovative digital tools. The value of the research lies in the recommendations provided for improving budget transparency during martial law and post-war recovery periods by refining the regulatory framework, increasing public involvement, strengthening oversight, and utilizing modern digital solutions.

EVALUATION OF STAFF MOTIVATION MODELS AND THEIR IMPACT ON TEAM INTERACTION PRODUCTIVITY

Vasylyna Tymoshenko — Thu, 29 May 2025 00:00:00 +0300

In the context of the transformation of the economic environment, the instability of the labor market and the growing significance of the influence of motivational factors on labor productivity, the problem of effective personnel motivation has become particularly urgent. The need to adapt existing motivation models to new challenges has increased: digitalization, flexible work formats, emotional intelligence and employee involvement in management processes. The relevance of research on the topic of motivation is due to constant changes in the labor market, increased competition for talents, the development of new forms of work and changing expectations of employees. The purpose of the study is to trace the evolution of theoretical and practical models of personnel motivation and systematize various approaches and models of motivation. Using the example of a group of manufacturing enterprises, to analyze how the relationship between classical and modern approaches can help improve existing ones and create integrative flexible models of motivation, with the prospect of development in conditions of transformations. The article substantiates the need for a comprehensive approach to building a motivational policy that takes into account the needs of employees, corporate culture and strategic goals of the organization. When writing the article, the following research methods were used: empirical data collection, methods of logical and comparative analysis, correlation analysis, and others. As a finding of the study, classical theories of motivation (Maslow's hierarchy of needs, Herzberg's two-factor theory, Vroom's expectation theory) and modern approaches based on the concepts of flexible management, psychological factors, and intangible motivation were structured. The factors that most influence personnel motivation in conditions of change and transformation were identified. Particular attention was paid to the use of combined models that allow adapting motivational strategies to individual and group needs of employees. It was emphasized that the most effective are mixed models of motivation that combine material incentives with intangible, personally oriented approaches. The originality of the study lies in the combination of theoretical analysis of motivation models with empirical study of their impact on team interaction, which allowed to identify new ways to increase the effectiveness of personnel management, which consist in a comprehensive approach to the use and evaluation of motivation models from the perspective of modern managerial realities. The practical value lies in the fact that the materials of the article can be useful for managers, HR specialists and researchers in the field of personnel management.

EXPORT OF UKRAINIAN GRAIN UNDER ARMED AGGRESSION BY THE RUSSIAN FEDERATION: DYNAMICS, MARKET CONCENTRATION, AND GLOBAL CHALLENGES

Halyna Fyliuk — Thu, 29 May 2025 00:00:00 +0300

The article focuses on analyzing the dynamics of the export potential of Ukrainian grain under the conditions of the armed aggression of the Russian Federation against Ukraine, as well as the influencing factors. Purpose. The purpose of the article is to assess the export of Ukrainian grain amid global challenges, examine the level of market concentration, and develop proposals for maintaining the competitive positions of Ukrainian exporters in the global environment. Research methods. To comprehensively achieve this goal, the following research methods were used: analysis and synthesis, systematization and generalization, comparative analysis, index method, tabular and graphical methods, and content analysis. Finding. It has been proven that despite a range of global challenges, Ukraine remains one of the world’s leading grain exporters and plays a crucial role in ensuring global food security. Key importers of Ukrainian grain over recent years have been identified, and a ranking of countries by their import volumes of Ukrainian grain is presented. Special attention is given to identifying the market structure, analyzing the dynamics of concentration among major grain traders during wartime challenges, and providing a brief overview of these actors. It is confirmed that the Ukrainian grain sector is integrated into global supply chains. The article argues that the Ukrainian grain export market is characterized by low concentration. Value. The need to monitor concentration levels in the grain export market is substantiated, especially in light of certain exporters gradually increasing their market shares over the past three years. A SWOT analysis of Ukrainian grain exporters on the global market under new challenges has been conducted. The feasibility of implementing a market expansion strategy by Ukrainian exporters—particularly through the development of new markets, including via the international humanitarian initiative “Grain from Ukraine” – is substantiated. The study concludes that for the effective functioning of Ukraine’s grain sector under conditions of full-scale war and for enhancing its export potential, it is necessary to improve business processes across the entire chain: production-processing-storage-export.