Accounting Support for the Audit of Intangible Assets of Agricultural Formations

Yuliia Nehoda
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Yuliia Nehoda: National University of Life and Environmental Sciences of Ukraine, Kyiv, Ukraine

Oblik i finansi, 2025, issue 2, 5-12

Abstract: The digital transformation of the agricultural sector and the growing role of innovations in production processes actualize the issues of accounting and auditing of intangible assets of agricultural enterprises in Ukraine. After all, the latter increasingly determines the market value of the enterprise and its investment attractiveness. The article aims to substantiate the areas of improving the accounting support for the audit of intangible assets of agricultural formations, taking into account existing problems, regulatory requirements and specifics of agriculture. The author disclosed the regulatory and legal principles of auditing intangible assets and investigated its problematic aspects for agricultural enterprises. The results of the study indicate that in the agricultural sector, there is a high risk of incorrect recognition or premature write-off of intangible assets, especially when participating in innovation programs, grants or international projects. Accounting for such assets requires compliance with legislation and a comprehensive approach to documentary support, internal control and methodology for calculating value and depreciation. The audit of intangible assets in Ukraine's agricultural formations should consider industry specifics, such as the lack of an active market, weak documentary support and instability of useful life. These features increase the risks of distortion of financial information and require the auditor not only to know the standards but also to understand agricultural practice, involve experts and adapt audit procedures to agricultural production conditions. The article presents an audit work programme for agricultural enterprises' intangible assets. The directions for improving the accounting support of the audit were outlined, including updating the accounting policy, taking into account industry realities, implementing internal regulations for document flow and asset classification, using modern ERP systems for accounting, regular training of accountants and auditors, as well as developing internal control procedures.

Keywords: audit; agricultural formations; International Standards on Auditing; accounting standards; intangible assets; audit work programme (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:iaf:journl:y:2025:i:2:p:5-12

DOI: 10.33146/2307-9878-2025-2(108)-5-12

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