The main tendencies of audit digitalization in the conditions of economic trans­formation are considered. It is established that audit should be conducted in full com­pli­ance with international auditing standards, despite the problems associated with COVID-19. It is substantiated that technological integration of audit on the basis of modern informa­tion systems increases efficiency of analytical work of the auditor.

The article is dedicated to topical questions of anti-corruption audit. This new direc­tion of services with evaluation of corruption and fraud contributes to the reduction of nega­tive trends caused by the actions of company officials related to abuse of power.The article discloses the main areas of anti-corruption audit, specifies the types of corruption risks and factors of the emergence.

Background. Economic paradigm, which was created in the beginning of the XX cen­tury, provided the theoretical grounds for economic growth, turningthe latter into the norm. However, the gradual accumulation of economic disproportions and paradigm failure of eco­nomics to explain them emerged full blown the research of new normal. Analysis of recent researches and publications. The new normal is the research subject of foreign and Ukrainian scholars. Most of them followthe instrumental approach that focuses on the change of the economic growth rate, not on substantial grounds and per­spectives of the new normal. The aim of the paper is to determine the background and the vectors of social and eco­nomic transformation that are the key determinants of the new normal of the economy of the XXI century. Materials and methods. The paper applies the comparative analysis of basic institutes and trends of global economy’s development in the XX century and the two decades of the XXI century. It is supplemented by statistical analysis and content analysis of factual data. Results. The ongoing economic growth, large-scale creation of the middle class in the XX century, on the one hand, and informatization, on the other hand, promoted ove­rcon­sumption, which became the catalyst of the further boost of economic growth. However, accumulation of economic disproportions andthe shift in the values of new generation have resulted with a build-up of a sharing economy and rebalancing of the forces within it. Conclusion. The background of the new normal covers the shift in the social structure of population, the shift in the balance between savings and consumption, employers’ domi­nance over employees, business scale rising, financial monopoly, which have caused ineffi­ciency of economic regulators and decrease of the rate of economic growth. Now they are inducing a reset of the role of market mechanism due to increase of economic dispersion under development of sharing technology and its dissemination over all the markets, inclu­ding markets of goods and resource markets.

Background. China in 2006 has embarked on a new path of high-tech industry development that is in line with today’s ambitions and the realities of tomorrow and put a great attention and focus on endogenous innovation. The current philosophy of China industrial policy is based on the idea that the revival of industry must be through the megaprojects implementation, which are vehicles for an import substitution and creating Chinese indigenous innovations through the "co-innovation", "re-innovation" of foreign technologies and encouraging domestic high-tech companies. Analysis of recent researches and publications revealed that, despite the high level of existing theoretical developments, the state’s role in in the formation and implementing the policy of transforming the Chinese industry (previously dominated by low value-added industries) into a high-tech sectors of the economy and a powerful player in the global market was still under-researched. The problems of the provision of the state aid for technological innovation in the interests of high-tech industry require further study. The aim of the article is to explore the Chinese experience on policy changes and new approaches to the formulation and implementation of high-tech industrial development as a strategic priority; the analysis of programs through which the state encourages the private sector to invest in research and innovation in industry; mechanisms for providing preferences to certified high-tech enterprises, preferences for manufacturers of "domestic goods" in public procurement. The prerequisites for the success of the development of endogenous innovative products and the formation of national "technological champions" are substantiated, the role of the state in this process is shown. Materials and methods. The theoretical and methodological basis for writing the article was the works of domestic and foreign scholars on the process of formation and implementation of industrial policy on innovative grounds, legislative and regulatory documents of China countries. The research was conducted using the methods of theo­retical generalization, comparative analysis, analysis and synthesis, which made it possible to characterize the process of selecting priorities of industrial development, to identify the factors that affect its dynamics. Results. The Government of China have commits resources and set in place inte­grated mechanisms to advance research and development, training, infrastructure and investment incentives; is pursuing a policy to the implementation of public procurement for local industry development and endogenous innovative products. The Government of China has been actively supporting a clear mandate: strengthen the technological potential of production and increase the level of localization in the country through the development of high-tech component base; the development of new zones of development of high-tech industries; maximizing the use of digital technology integrate big data, cloud computing, other cutting-edge technologies in manufacturing capabilities and transform manufacturing, supply and value chains. Conclusion. China has effective decision-making vertical on the implementation of inno­vation-industrial policy mechanisms, identify strategic priorities and evaluate the necessary funding, to introduce state support programs, introduce instruments to stimulate domestic demand for domestic goods providers through the public procurement system for the develop­ment of high-tech industry. The experience of China has shown that long-term targeted government actions has a positive impact on technologies performance, providing added value growth, labor productivity and exports, accelerating economic development and increasing the world leadership.

Background. There is a plethora of factors that affect the intergovernmental rela­tions, e. g. institutional, social, economic, and administrative. The regulation of the insti­tutions’ functional powers should be arranged regarding the necessity of the financial resources’ redistribution between the hierarchical components of the budgetary system, on basis of the principals of sufficiency, economy, efficiency and effectiveness. The aim of this article is to define the statements on the domestic intergovernmental relations’ improvement in order to regulate the administrative-territorial units’ social and economic development. Materials and methods. This article’s theoretical and methodological bases are represented by the scientific works of domestic and foreign scholars. The systematic approach, methods of analytical estimation, synthesis, economic-mathematical modeling, and scientific abstraction were applied. Results. The prospects for the intergovernmental relations’ further development in conditions of decentralization are suggested. The provisions on increasing the fiscal significance of local taxes, in particular the property tax, are substantiated. The territorial communities’ financial capacity criteria are investigated. The functional peculiarities of the intergovernmental transfers’ in Ukraine are determined. The propositions to increase the efficiency of investment grants, educational and medical subventions have been determined. Conclusion. The intergovernmental fiscal relations’ development should be focused both on the public finances and fiscal discipline improvement. The incentives to expand the economic and tax bases of the territories should be provided as well. The sub-system of the local taxes, fees and contributions has a potential for strengthening the local communities’ financial capacity. Considering the above, it is important to improve those taxes’ quality of administration using the appropriate modern financial technologies. It is advisable to spe­cify the indicators and criteria that are regarded, while the subsidies for social and eco­nomic development of the territories are allocated. In order to justify the mechanism for the conditional intergovernmental grants’ allocation, the national quality standards for public services should be taken into account.

Background. The maximum consideration of region’s needs is increased under the Euro­pean integration context, the administrative model change to the center-region relationship, as well as under the globalization processes influence. Therefore, given the fact that the rate of socio-economic development of the state and the regions depends on the effectiveness of the financial policy, in particular, it is possible to conclude that it is necessary to study the finan­cial policy at the subnational level. The aim of the article is to study the current state of financial policy at the subnational level. Materials and methods. The methods of generalization, comparison, statistical, analy­sis and synthesis are used in our study. The information base of the research is formed by scien­tific achievements of Ukrainian scientists and practitioners, statistical materials and Internet sources. Results. The current state of financial policy formation and development of the sub­national level is investigated on Vinnytsia region example. Vinnytsia region fiscal policy analysis shows that there are different sources of filling the budget of the region, using which, local governments have the opportunity to perform their assigned functions of development of local communities. Research into the practice of local budget revenue generation has shown that tax revenues and official transfers are the main source of local budget replenishment. Credit policy in the Vinnytsia region is considered in the context of providing pre­ferential long-term loans to young families for construction and purchase of housing, budget loans to business entities, long-term loans to individuals. Investigation of the region’s investment policy shows the low level of investment in the region with significant investment potential and requires attention both to the existing ones in the region, as well as to attracting new foreign direct investments and support of investors. Conclusion. Today the issue of finding new directions for subnational level of finan­cial policy development is becoming increasingly relevant. In our opinion, the strategic objec­tives of such financial policy should be the maximum financial arrangement of the region, the coordination of fiscal and tax policies at national and subnational levels.

Background. An important source of financing assets, including current ones, are current liabilities. However, the uncontrolled increase of the certain types of current lia­bi­lities and their irrational structure can lead to negative financial consequences: loss of sol­vency or financial stability and bankruptcy. The aim of the article is to substantiate the methodological principles and the methodological approach to optimizing the structure of current liabilities of the trade enterprise in order to ensure its solvency. Materials and methods. The study is based on the principles of a systematic app­roach. During the research methods of analysis and synthesis, scientific abstraction, statis­tical analysis, linear mathematical programming have been used. Results. We have analyzed current liabilities of Ukrainian trade enterprises during 2012–2018, identified their changing trends and their direct impact on the solvency level of enterprises, which predetermined the need for improving approaches to managing current liabilities of trade enterprises. The system of methodological principles has been proved: a multicriteria approach; providing financing of the required amount of current assets; efficiency; compliance with maturities and functional compliance. These principles founded the mathematical model of the problem of optimizing the volume and structure of current liabilities of the trading company on the basis of the linear programming method. The main optimization criterion has been identified as the target level of the enterprise solvency, as long as the above mentioned principles are followed, which form the basis of the formation of a restrictions system. Conclusion. The suggested approach allows creating the fundamentals of a more meaningful management of current liabilities of the trade enterprise, structuring this pro­cess, and contributes to solving topical problems within a practical scope.

Background. The study is devoted to the analysis of thematic use of this form of mana­gement for the relationship of financial resources with the result as program-targeted budgeting in the context of its application in the budget process of Ukraine through a combination of program-targeted management method and organization of delimitation of financial resourceswith thecertain results, established inthe purpose. The article proposes theoretical aspects of algorithmization of goal setting in program-target budgeting. The aim of this study was to conceptualize and algorithmize the definition of goals for budget expenditures in the context of program-targeted budgeting and the actual organization of the budget process in Ukraine. Materials and methods. Methods of theoretical generalization, comparative ana­lysis and synthesishave been usedin the the study. Results. The primary attribute of targeted budgeting through programs is the purpose of budgeting. The article describes the essence of the concepts of "purpose" in pro­grammatic budgeting. As the concepts of goals and results are used concurrently in law and in scientific publications, we also concretize their relationship by modeling financial purpose in budgeting as directional and specific, measurable in cost and time in result. The author also outlines the criteria and conditions for setting targets in program­matic budgeting, taking into account aspects of budgetary policy, compiled by the author according to the statements from domestic scientific sources. Conclusion. Based on the conceptualization of the concept "goal", the following aspects are proposed to ensure the effectiveness of achieving the goals in programmatic budgeting: setting an effective meaningful measurable goal with the following impact effect; organization of maximum positive synergistic impact; finding ways to save resources and stop spending on time and reach goals; adjusting the goal to the ability to achieve it.

Background. Attraction of foreign investments to the economy remains a topical issue for Ukraine at its present stage of development. The foreign investors reluctantly invest their funds because of the difficult geopolitical situation in the country. It is, therefore, extremely important to stimulate the investment activity of domestic economic entities and business. Whereas, ensuring the economic growth and maintaining the positive dynamics of the domestic investment process in the country remains the main task of the National Bank of Ukraine. Analysis of recent researches and publications. Despite the large number of the papers devoted to this issue, there remain many questions regarding the study of the effect of monetary policy on the investment process in Ukraine. The aim of this paper is to study the domestic investment process in Ukraine and to de­termine the impact of the discount rate and credits on the economic development of the country. Materials and methods. The paper employs methods and approaches that made it pos­sible to carry out the study, namely analysis, synthesis, and dialectical, systemic and compa­rative methods. Results. ?he relation between the discount rate and the investment processes in Ukraine is investigated. The effect of credit interest rates on the investment activity of economic entities and businesses is analysed. The experience of investment activity stimulation by applying key factors of monetary policy in the European Union members is considered. The recommend­dations aiming at stimulating the investment process in Ukraine are presented for the National Bank of Ukraine. Conclusion. Based on the results of the conducted study, we may draw the conclusions that the investment process in Ukraine is at a very low level. Investments on account of credits amounts only to 7% of the total quantity, indicating that the National Bank does not carry out the stimulation of the investment process. Thepursuedstudy suggests that it is necessary to reduce the discount rate and the interest rate, in order to stimulate the domestic investment process in Ukraine.

Background. A decisive factor in the competitive advantage of a higher education institution is the possibility of introducing a distance education system. Educational leaders need to respond quickly to environmental challenges, especially now in a pandemic. There­fore, existing education systems and traditional approaches have to be modified and improved. The aim of the article is to theoretically substantiate the need for distance edu­ca­tion, as a modern tool for lifelong learning and an effective tool in the mind of the coronavirus. Materials and methods. The theoretical basis for writing the article is the metho­dological approaches to the conceptual essence of distance education in the practice of foreign and domestic organizations, including periodicals and online resources. In the course of their processing the following scientific methods were used: analysis and syn­the­sis, deduction and induction, systematization, analytical-systematization, systematic app­roach and generalization. Results. In the context of the fight against the coronavirus, despite the willingness, higher education institutions were forced to implement distance education systems. Chan­ging conditions should not affect the quality of education, which is what distance learning provides. The advantage of the distance form over the daytime is the ability to take classes in full in convenient conditions without wasting time on trips. Also, the use of distance learning enhances the skills of the applicant in the use of modern interactive, telecommu­nication tools, allows you to expand your skills as a user. At the same time, distance learning requires applicants and teachers of greater organization, development of self-management skills, time management. Unfortunately, the economic situation and science of Ukraine have lost considerable opportunities, but the critical situation under the virus quickly and radically changes the moods and helps to unlock potential opportunities for both teachers and educators. Conclusion. The basic condition for effective implementation of the distance educa­tion system in Ukraine is the combination of the progressive experience of the leading countries of the world, national achievements. Thus, true effective distance education will open up new horizons for both educators and teachers. The opportunities presented and the challenges ahead open up potential reserves for this type of education in the future.

Background. Improving the efficiency of professional activity requires revision and improving of knowledge and skills of person. The primary competencies, which are the basis for her or his initial employment, change throughout professional career for effect­tiveness of the business and their personal success. The aim of the article is to determine the content, role and factors of development of the system of hard and soft skills of professional accountants in the context of business requirements. Materials and methods. The theoretical and methodological basis for writing the article were the works of domestic and foreign scientists on the topic of research. The methods of theoretical generalization, comparative analysis, synthesis, systematization are applied. Results. Content, categories and requirements for soft and firm skills were iden­tified in terms of developing the required competencies of a professional accountant. Features of balance between soft and hard skills for successful activity of professional accountant are considered. The special requirements to the skills of the accountant at dif­fer­rent stages of his professional life in the constantly changing economy are analyzed. Conclusion. Working in a behavioral economy causes the traditional approach to be replaced by a new approach that requires increasing requirements for the employee’s soft skills. Instead, the digital aspect of the economy is leading to the transformation of hard skills. At the same time, soft skills remain an important factor in maintaining the professionalism of an accountant in his up-to-date value and, as a result, increase the accountant’s standard of living and improve financial results for the business.