Page 19 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.82, # 1, 2025, pp. 19-35

ANALYTICAL PROCEDURES IN AUDIT AS A TOOL FOR PREDICTING THE
RISKS OF FINANCIAL STATEMENT FRAUD IN MARKETING COMPANIES

1
2
3
Nina Poyda-Nosyk , Serhii Lehenchuk , Victoriia Makarovych , Iryna
4
Polishchuk , Tetiana Zavalii 5

1 Accounting and Auditing Department, Ferenc Rakoczi II Transcarpathian Hungarian
College of Higher Education, Ukraine. [email protected]; ORCID:
http://orcid.org/0000-0002-5378-8028
2 Department of Information Systems in Management and Accounting, Zhytomyr
Polytechnic State University, Ukraine. [email protected] (Corresponding
author); ORCID: https://orcid.org/0000-0002-3975-1210
31 Accounting and Auditing Department, Ferenc Rakoczi II Transcarpathian Hungarian
College of Higher Education, Ukraine. [email protected]; ORCID:
https://orcid.org/0000-0002-5957-7571
4 Department of Information Systems in Management and Accounting, Zhytomyr
Polytechnic State University, Ukraine. [email protected]; ORCID
https://orcid.org/0000-0002-6074-6627
5 Department of Management, Business and Marketing Technologies, Zhytomyr
Polytechnic State University, Ukraine. [email protected]; ORCID:
https://orcid.org/0000-0002-6315-5646

https://doi.org/10.30546/jestp.2025.82.01.013

Received: December 10, 2024; accepted May 15, 2025; published online July 31, 2025

ABSTRACT
This study investigates the detection of financial reporting manipulation in Ukrainian
marketing companies during 2023–2024 by applying the Beneish and Roxas models as
part of analytical audit procedures. The research highlights the industry-specific
characteristics of the sector, particularly its low reliance on fixed assets and long-term
liabilities, which simplifies operational structuring but may also increase susceptibility to
financial misrepresentation. Through empirical analysis of a sample of 50 marketing
firms, the study identifies potential financial manipulation by examining deviations in key
indicators. A comparative assessment of the Beneish and Roxas models reveals
discrepancies in their predictive outcomes, suggesting methodological differences in
fraud detection. The findings indicate an elevated risk of financial statement manipulation
within the Ukrainian marketing sector, exacerbated by the economic instability of martial
law. The Beneish model demonstrates superior diagnostic capability due to its
comprehensive integration of income, expense, asset, and liability interdependencies.

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