AUDIT UNDER MARTIAL LAW: REALITIES AND PROSPECTS
Abstract
The aim of this study is to analyze the current state of audit firms in the context of the ongoing war, including evaluating the effectiveness of their adaptation to new economic, social, and security conditions. The paper also justifies the necessity for rebranding within the audit sector, prompted by the unstable market situation, and explores the changes in business strategies, marketing approaches, and corporate culture. The article presents a detailed analysis of the audit services market from 2018 to 2022. It highlights that the current state of the audit market is characterized by an expansion in service offerings and the growth of auditors' professional competencies and practical skills. The study establishes that the audit services market is significantly influenced by the major changes occurring in Ukraine, with demand being shaped by macroeconomic processes, government actions, legislation, business owners' strategies, and consumer behavior. The scientific novelty of the research lies in the identification of the necessity for rebranding among audit firms during the military period, offering potential strategies for image transformation and communication planning to ensure stability and success during the crisis. The paper emphasizes that rebranding is driven by factors such as strategic shifts, new business directions, outdated brands, and increased market competition due to new entrants or intensified rivalry. It is demonstrated that a brand audit can help determine the necessary actions to strengthen a weak brand and further solidify a strong one. The study proposes a set of measures aimed at improving audit practices during the war and introduces a methodological approach for implementing rebranding procedures within audit firms. Practical recommendations and strategies are provided to assist audit entities in not only adapting to the new realities but also thriving while maintaining high-quality services and competitiveness.
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