scholarly journals RISK-BASED AUDIT

2021 ◽  
pp. 38-44
Author(s):  
Nataliya Izvarina ◽  
Dmitriy Filev ◽  
Anguelina Tepegendjiyan
Keyword(s):  
Internal Audit ◽  
Economic Security ◽  
Audit System

The article discusses the features of building an internal audit system for the economic security of an enterprise. Special emphasis is placed on a risk-based approach to internal audit. A flowchart of the risk-based approach is proposed in which its main advantages are written. Ways to solve emerging problems in the field of internal audit are also suggested.

scholarly journals THE ROLE OF INTERNAL AUDIT IN THE SUPPRESSION AND PREVENTION OF CORPORATE FRAUD

2018 ◽  
Author(s):  
Юлия Мезенцева ◽  
Yuliya Mezentseva ◽  
Ксения Вердеш ◽  
Ksenia Verdesh
Keyword(s):  
Internal Audit ◽  
Economic Security ◽  
Corporate Fraud ◽  
Audit System ◽  
General Signs

The article presents the author's view on the role of internal audit in the prevention of corporate fraud, the main aspects of the internal audit service. Attention is paid to the consideration of the General signs of corporate crimes. Corporate fraud is considered as a significant threat to the economic security of the company, and the organization of an effective internal audit system – as one of the mechanisms to prevent them.

Standardization in service audit

Servis plus ◽  
10.12737/6464 ◽  
2014 ◽  
Vol 8 (4) ◽  
pp. 30-37 ◽  
Author(s):  
Ольга Вапнярская ◽  
Olga Vapnyarskaya
Keyword(s):  
Comparative Analysis ◽  
Internal Audit ◽  
External Audit ◽  
Audit System ◽  
Analogue Method ◽  
The Subject ◽  
Service Standards ◽  
Audit Program ◽  
Product Lifespan

The authors of the article studied opportunities and prospects of development of the enterprise service standards complex and defined the components of this complex. It appears that the service standards complex is necessary also for service audit. In the article the service audit is considered as a part of internal audit system and as a part of voluntary external audit. Due to this, it is necessary to ensure the continuity of practice of these types of audit with reference to the developed methodology of service audit. It is expected that the service audit is directed at the assessment of completeness of the service provided by the company and its conformity with needs of consumers. The proposal of the service audit conception presupposes the necessity to define what objects are to be standardized, what set of standards are to be created in order to conduct service audit and achieve representative results. Therefore, the authors presented the results of comparative analysis of development of inner audit methodology with regard to its procedures and principles standardization. The article comprises the main principles of service audit standardization that includes analogue method. Particularly, it was proved that it was expedient to single out the service standards complex and the complex of principles (standards) of service audit conduction. According to the authors, the first group includes service standards of various stages of the proposed product lifespan. The complex of principles (standards) of service audit constitutes the standards that allow to define the object and the subject of service audit, auditor requirements, the procedure of preparation and implementation of a service audit program, requirements for service audit results report etc.

scholarly journals Internal audit risk assessment and legal risk: First evidence in the Italian experience

2007 ◽  
Vol 4 (4) ◽  
pp. 59-77
Author(s):  
Angelo Miglietta ◽  
Mario Anaclerio ◽  
Cristina Bettinelli
Keyword(s):  
Risk Assessment ◽  
Internal Audit ◽  
Audit Risk ◽  
Legal Risk ◽  
Audit System ◽  
Italian Experience ◽  
Risk Optimization ◽  
Sarbanes Oxley ◽  
Management Optimization ◽  
The Cost

The objective of this article is to analyze how Italian Firms comply with the Internal Audit rules regarding the administrative liability of entities and to explain what the effect on the organizational structure was. In particular we collected data from 21 companies listed on the S&P/MIB index by sending a questionnaire to each Internal Audit Director. We show the features of internal audit system required by the 231 Italian Decree and how risk assessment and internal audit could serve as Corporate Governance Instruments. The 231 Italian Decree, like the Sarbanes-Oxley Act enhances and extends companies’ accountability, transparency and integrity especially in business conduct. The innovativeness of this work is due to the idea of considering these elements as influential for the risk management optimization. As a consequence, a risk reduction can be achieved by improving the organizational and management models. Thought is commonly accepted that the risk optimization leads to a reduction of the cost of capital for the enterprise, there is a difficulty in estimating how much the value provided could be

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

2020 ◽  
pp. 48-57
Author(s):  
М. SHYGUN
Keyword(s):  
Effective Interaction ◽  
Internal Audit ◽  
Economic Security ◽  
Management Control ◽  
Operating Conditions ◽  
Financial Indicators ◽  
Internal Auditors ◽  
Working Plan ◽  
The Impact

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.

scholarly journals Algorithms for countering economic crimes and assessing the level of threats to economic security in the context of strategic management

2020 ◽  
Vol 81 (4) ◽  
pp. 280-290
Author(s):  
S. P. Khrustaleva ◽  
K. S. Krivyakin ◽  
M. S. Lutsenko ◽  
O. O. Shendrikova
Keyword(s):  
Economic Activity ◽  
Internal Audit ◽  
Economic Security ◽  
The State ◽  
Economic Crime ◽  
Industrial Enterprises ◽  
Four Levels ◽  
Business Entities ◽  
Functional Components ◽  
Economic Crimes

Crimes in the field of economic activity have become so common in society that crime in the economy has become the norm in the behavior of business entities. Economic crime in Russia at the present stage has reached such a scale that it really threatens the national security of the state. All this requires a detailed study of the individual elements of a crime in the sphere of economic activity and determination of methods for preventing economic crimes. Ensuring the economic rule of law is a guarantee of ensuring the economic security of the state in the future. Economic crimes committed at enterprises of various patterns of ownership are considered. The main type of economic crime is the misappropriation of assets (property), bribery and corruption are in second place, and finally, the third type of common economic crime in 2019 is procurement fraud. The amount of damage from economic crimes in large enterprises ranges from 100 thousand to 1 million US dollars. The main tools for detecting economic crimes in Russia are: the activities of the internal audit and economic security services; information technology protection and financial security of the enterprise; reporting suspicious transactions; the activities of the enterprise to manage the risks of losses from fraud. It is proposed to identify four levels of economic security of the enterprise: critical, low, medium and high. The optimality of the processes for managing economic and information security of PJSC VASO was assessed, which made it possible to single out the main functional components of the overall security of industrial enterprises. A comprehensive assessment of the level of economic threats of PJSC “VASO” as of 2019 was carried out.

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