Myronyshena A. Concept and particularities of public audit relations The article is dedicated to the publicly significant functions of the auditor performing during the audit activities; it proves that the relations mediated by the audit of financial statements can be built on the principle of binding; control nature of the activities of auditors and audit firms; proves that audit as a type of financial control is an independent legal institution; manifestation in financial and legal relations during the audit of financial statements of governmental and public nature. It is increasingly used in regulating economic relations various market regulators, among which a special place is given to the audit of financial statements, and thus, it can perform the tasks assigned to it by society. The audit of financial statements is aimed at achieving socially significant goals in society, arising in the process of mandatory audit of financial statements, public relations in its legal essence contains all the necessary elements of financial control relations, therefore, covered by financial law. This conclusion is confirmed by the fact that legal relations in the field of audit are inherent in all the hallmarks of financial relations, because they always arise in the financial activities of the state, have a public law nature, their implementation is impossible without government influence. Therefore, the main role in regulating the audit of financial statements belongs to the rules of financial law. Relations that arise during the statutory audit of financial statements are aimed at protecting the public interest and in their legal nature contain all the necessary elements of financial and legal relations. The financial and legal regulation in the field of mandatory audit of financial statements is due to the fact that the state in the legislative order establishes the cases and conditions of mandatory financial audit, determines the rights and obligations of participants in such relations; records the types of liability of audit entities to consumers of audit services provided by them; monitors compliance with the law; regulates the relationship of statutory audit using the mandatory method, which is characteristic of the method of financial law. Audit authority is exercised in the process of summarizing the results of the inspection, identifying and studying the causes of specific deficiencies and violations, the conditions that caused them, development and implementation of preventive measures, providing recommendations and guidelines of imperative nature on the application of appropriate preventive measures. The amendments to the Law of Ukraine “On Auditing Financial Statements and Auditing Activities” have been proposed, according to which auditors and audit firms should be obliged to insure their professional activities for the entire period of their membership in the Audit Chamber of Ukraine.