Current Planning for Internal Audit of Risk Assessment of the Company Activities

Keywords: internal audit, audit planning, audit plan, risks of activity, audit risk assessment of the company activities.

Abstract

Lack of management control of the activity risks creates critical operating conditions for the enterprise, in which the financial indicators may change unexpectedly and unfavorably. Avoidance of the risks of an entity's activity is possible if effective interaction is made primarily between economic security and internal audit departments. Productive work of internal auditors to identify, evaluate and reduce the impact of risks on the performance of the enterprise is possible with its proper organization. The article describes the key principles for planning the activities of internal auditors to ensure the quality of audit procedures. Approaches to the organization and planning of the Internal Audit Department's work on identifying risks of the entity's activities, minimizing them and preventing them in the future are disclosed. A working plan for the application of audit procedures in the department of accounting, cashier and warehouse is presented, which demonstrates procedures for identifying and assessing such types of risks as market, payment, currency, financial, tax, credit, loss of assets. The working plan of the audit procedures developed contains the most effective procedures, depending on the objects of the audit, determines the scope of the audit, the procedure of its carrying out, responsible executors, the terms of the procedures. The use of the following suggestions for the planning of internal audit allows to apply qualitatively different forms and methods of audit, types of audit procedures, specialize the audit activities, correctly establish the order of audits, take into account the results of audit in the preparation and approval of various types of enterprise reports.

Downloads

Download data is not yet available.

References

Velykyi YU. V., Kriuchkovska T. O. (2014). Vnutrishniy kontrol i audyt v suchasnykh umovakh [The internal control and audit in the present-day conditions]. Zhurnal “Ahrosvit” – Journal “Ahrosvit”, 1, 6–8 [in Ukrainian].

Kyrychenko O. A., Zakharov O. I., Denysenko M. P. et al. (2010). Ekonomichna bezpeka subiektiv hospodarskoi dialnosti v umovakh hlobalnoi finansovoi kryzy [The economic security of business entities in the conditions of the global financial crisis]. Kyiv: “Dorado-Druk” [in Ukrainian].

Lyashenko O. M. (2011) Kontseptualizatsia upravlinnia ekonomichnoiu bezpekoiu pidpryemstva [Conceptualization of the economic security management of business]. Luhansk: Volodymyr Dahl East Ukrainian National University [in Ukrainian].

Maksymova V. F. (2005) Vnutrishniy kontrol ekonomichnoi diyalnosti promyslovoho pidpryemstva – systemnyі pidkhid do rozvytku [The internal control of economic activities at industrial enterprise: the system approach to development]. Kyiv: AVRIO [in Ukrainian].

Mizhnarodnyi standart audytu 230 “Audytorska dokumentatsia” [International Standards of Audit 230 “Auditor Documentation”]. Mizhnarodni standarty kontrolyu yakosti, audytu, ohlyadu, inshoho nadannya vpevnenosti ta suputnikh posluh [International Standards on Quality Control, Auditing, Assurance and Related Services]. Edition 2016–2017. Part 1 [in Ukrainian].

Napadovska L. V. (2000). Vnutrishniohospodarskyi kontrol v rynkoviy ekonomitsi [The internal business control in the market economy]. Dnipropetrovsk: Nauka i osvita [in Ukrainian].

Pro audyt finansovoi zvitnosti ta audytorsku dialnist: Zakon Ukrayiny vid 21.12.2017 r. No 2258-VIII [Audit of financial reporting and auditing: The Law of Ukraine from 21.12.2017 No 2258-VIII]. Retrieved from https://zakon.rada.gov.ua/laws/show/2258-19 [in Ukrainian].

Hnylytska L. V., Liashenko O. M., Pohorelov Yu. S. (2010). Systema ekonomichnoi bezpeky: derzhava, rehion, pidpryemstvo [The system of economic security: country, region, business enterprise]. Luhansk: Elton-2 [in Ukrainian]

Sotnykova L. V. (2000) Vnutrenniy kontrol i audit [The internal control and audit]. Moscow: Fyn-statynform [in Russian].

Standarty vnutrishnioho audytu. Zatv. Nakazom Ministerstva finansiv Ukrayiny vid 04.10.2011 r. No 1247. Data onovlennya: 14.08.2019 [Standards of internal audit: Approved by Directive of the Ministry of Finance of Ukraine from 04.10.2011 No 1247]. Updated: 14.08.2019. Retrieved from https://zakon.rada.gov.ua/laws/show/z1219-11 [in Ukrainian].

Franchuk V. I. (2010) Osoblyvosti orhanizatsii systemy ekonomichnoi bezpeky vitchyznianykh aktsionernykh tovarystv v umovakh transformatsiynoi ekonomiky [The peculiarities of organization of the system for economic security of domestic joint-stock companies in the conditions of transformational economy]. Lviv: Lviv State University of Internal Affairs [in Ukrainian].

Shevchuk V. O. (1998). Kontrol hospodarskykh system v suspilstvi z perekhidnoiu ekonomikoiu (problemy teorii, orhanizatsii, metodolohii) [Business systems control in a society with the transitional economy]. Kyiv: Kyiv State University of Trade and Economics [in Ukrainian].


Abstract views: 176
PDF Downloads: 90
Published
2020-03-01
How to Cite
SHYGUN М. (2020). Current Planning for Internal Audit of Risk Assessment of the Company Activities. Scientific Bulletin of the National Academy of Statistics, Accounting and Audit, (1-2), 48-57. https://doi.org/10.31767/nasoa.1-2.2020.05