Challenges and Prospects for Auditing and Analysing the Financial Statements of Ukrainian Enterprises during Martial Law

The goal of the paper was to analyse the significant challenges as well as opportunities for auditing and analysing the financial statements of Ukrainian enterprises amidst martial law. It emphasizes the development and implementation of qualitative methods for auditing financial statements and analysing the financial health of businesses, serving as a foundation for management decisions and forming the enterprise development strategies.

The methodology involves an analysis of scientific literature on audit development under modern conditions, focusing on identifying the main challenges and prospects for audit development in Ukraine during martial law. The research is grounded in an extensive examination of current scientific literature, encompassing monographs and articles from peer-reviewed journals found in Scopus and Web of Science, emphasizing the last five years to ensure relevance and acknowledgment of current realities.

The study highlights unique obstacles and opportunities for auditing within the framework of martial law and post-conflict reconstruction efforts, emphasizing the importance of proactive over mandatory audits. It highlights how audits can demonstrate business transparency, attract potential investors and partners, and provide reliable information for management decisions. Key issues such as the diminishing value of audits due to the military situation, the need for a paradigm shift focusing on European integration, and the classification of audit types are discussed. Solutions to these problems are proposed to enhance the development of modern audit practices.

The study's novelty lies in its specific focus on the audit process during martial law in Ukraine, offering a unique perspective on the adaptation of auditing practices in crisis conditions. It provides insights into the differences between mandatory and initiative audits and their application in martial law conditions, contributing valuable information for businesses operating in unstable environments globally.

The study concludes that proactive auditing practices are crucial for Ukrainian enterprises during martial law, serving as a tool for ensuring transparency, forming a strategy for the further development of enterprisesand attracting investment. It underscores the need for a paradigm shift in auditpractices, focusing on modern challenges and European integration. The recommendations offered aim to address the identified problems, suggesting a path forward for the audit industry in Ukraine and similar contexts worldwide.