Audit efficiency: Modern challenges and promising approaches

Abstract

The concept of audit efficiency is of great significance in the modern business environment, as it is one of the key indicators of the accuracy of financial statements, risk management, and overall governance effectiveness in entities and organizations. An efficient audit is not limited to verifying compliance with legislative requirements but also contributes to optimal financial resource management, ensuring transparency, and reducing corruption risks. The study of audit efficiency has become even more relevant in the context of contemporary economic and technological changes. The development of digital technologies, the implementation of automated audit systems, and the use of artificial intelligence in audit processes create new challenges and opportunities. Therefore, an in-depth study of the theoretical and practical foundations of auditing, the improvement of its methodological approaches, and its alignment with international standards are essential for enhancing the long-term financial stability and investment attractiveness of organizations. This article examines research related to the efficiency of audit services and approaches this concept in light of modern-day requirements. The paper evaluates the key factors ensuring audit efficiency and highlights the necessity of addressing them based on contemporary challenges. Moreover, approaches to audit efficiency are analyzed in connection with the legal and regulatory framework. The article presents well-founded perspectives on audit efficiency and its improvement, offering a revised version of existing theoretical and methodological provisions.