AUDIT OF FINANCIAL RESULTS OF IT COMPANIES: SPECIFICITIES AND STAGES

Abstract

Introduction. The article is focused on addressing the current issues related to information support and procedures for a qualitative audit of the financial results of IT enterprises. Purpose. The aim of the article is to study the information support systems and outline the key procedures for auditing the financial performance of IT companies. The role of IT enterprises in the Ukrainian economy is increasing year by year, making the sector an attractive option for both Ukrainian and foreign investors. Investors, in turn, seek transparency and stability within these companies. Auditing financial results is a common practice used to verify the reliability of a company's financial position, providing a solid foundation for investment decisions. However, IT companies have unique characteristics that require auditors to consider specific factors, such as the efficiency and flexibility of financial accounting, driven by the constant dynamics within the industry, the management of intellectual property (including company-developed assets), the impact of market conditions on the IT sector, and the cross-border nature of business operations. Given these unique aspects of the IT sector, it is essential to identify the key elements of information support and explore ways to enhance auditing procedures for IT enterprises' financial performance. Methods. To achieve this goal, several research methods and techniques were employed, including analysis and synthesis, abstraction, generalization, and a systematic approach. The article examines the features of financial reporting within IT companies, customer relationship management systems, tools for data analysis and reporting, and the stages of auditing financial results. Conclusion. It also updates and refines the classification of information support for auditing the financial performance of IT companies and collecting audit evidence. Results. The article discusses the most common key audit issues in the IT sector, specifically transactions with related parties and the procurement of services from IT specialists. It outlines the main stages involved in auditing the financial results of IT enterprises and explores solutions to key issues in auditing financial performance within the IT sector.