scholarly journals PROSPECTS FOR THE DEVELOPMENT OF THE INTERNAL AUDIT SERVICE AT THE ENTERPRISE

2021 ◽  
Author(s):  
Tetiana Sliunina ◽  
Anastasiya Tolstova
Keyword(s):  
Internal Audit ◽  
External Control ◽  
Corporate Management ◽  
Accounting System ◽  
Management Decisions ◽  
International Capital Markets ◽  
Business Partners ◽  
Advantages And Disadvantages ◽  
National Tax ◽  
State Of Affairs

The article discusses the prospects for the development of the internal audit service at the enterprise. The need for internal audit is due to the increasing scale of enterprises and the inability of the accounting system to provide the information, which is necessary for timely management decisions. If the company wants to know about the state of affairs, identifies the strengths and weaknesses of its activities and prevent possible risks, it appeals to internal audit. Despite the level of professionalism of management, imperfection and variability of the national tax system makes the issue of control over the activities of the enterprise relevant. Most inspections and audits carried out by external control entities only confirm the fact of violation. What cannot be said about the internal audit service, which helps to prevent negative phenomena, works ahead and eliminates the possible cause of the offense. Given the volume of offenses and abuses identified by supervisory authorities, the introduction of an internal audit becomes a necessity. After all, fraud not only causes financial damage to the company, but also negatively affects their reputation and relationships with business partners, which in the future will lead to even greater losses. Having an internal audit service is a signal to potential investors and lenders of good corporate management and generally makes good impression of the company. In addition, the existence of such a service allows the company to enter international capital markets, operate well, preserve assets and survive the crisis. You can organize an internal audit by creating a separate division of the enterprise, outsourcing or co-sourcing. The advantages and disadvantages of each of the methods are discussed in more detail in the article. At the current stage, we see an ambiguous attitude to internal audit among businesses. This is due to managers' lack of understanding of its capabilities and the need to do business. However, internal audit can be an effective source of information for managers at all levels and will give business owners an assessment of the real state of affairs to make effective and appropriate management decisions.

Agency problem in management as a challenge for the corporation accounting system

2019 ◽  
pp. 103-115
Author(s):  
Vasyl Tsaruk
Keyword(s):  
Corporate Governance ◽  
Institutional Theory ◽  
Agency Theory ◽  
Agency Problem ◽  
Corporate Management ◽  
Accounting System ◽  
Corporate Structure ◽  
Governance System ◽  
Advantages And Disadvantages ◽  
Corporate Governance System

Introduction. Corporate governance, as a basis for ensuring the efficient use of corporate resources, can be built on a range of models that have both advantages and disadvantages. Neo-institutional theory, in particular its separate component is agency theory. It is one of the theories that allows to substantiate the reasons for the decline in the quality of implemented corporate governance systems and to formulate ways to improve it, in particular, taking into account the role of accounting in ensuring the effectiveness of their functioning. Purpose. The aim of the article is to monitor essence and peculiarities of manifestation of agency problem in corporate governance and substantiation of place of accounting in its solution. Methods. The range of research methods related to the solution of the agent problem in the corporate governance system is applied. Dialectical method of cognition and the systematic approach to the interpretation of corporate governance, the monographic method for monitoring the positions of scientists in the sphere of solving the agent problem, the abstract and logical method for theoretical generalizations and formulation conclusions are used in the research. Results. The necessity of accounting development in solving the agency problem in corporate management is substantiated. The peculiarities of the development of neo-institutional theory as a theoretical basis of corporate governance are revealed. The necessity to study agency theory as a means of solving problems in corporate governance is substantiated. The essence of agency problem in corporate structures is revealed and the causes of its occurrence are identified. The theoretical principles of agency problem in corporate structures are highlighted. Cases of manifestation of agency problem in corporate structures are analyzed. The basic directions of improvement of the accounting system of the corporate structure with the purpose of minimizing consequences of occurrence of agency problem are highlighted. Discussion. It is advisable to focus on optimizing specific elements of the corporate accounting system in further research in order to avoid agency issues in the corporate governance system.

WAYS TO IMPROVE INTERNAL AUDIT OF PAYMENTS TO EMPLOYEES

2017 ◽  
Author(s):  
Natalia Ivanova ◽  
◽  
Svitlana Mykhailovyna ◽  
Olena Matros ◽  
◽  
...  
Keyword(s):  
Labor Productivity ◽  
Information Technologies ◽  
Internal Audit ◽  
Employee Benefits ◽  
Actual State ◽  
High Quality ◽  
Employee Benefit ◽  
Productivity Indicators ◽  
State Of Affairs ◽  
Practical Recommendations

There is no doubt that the issues of improving the methodological foundations of internal audit of payments to employees in the context of increased competition in all areas of business, the introduction of modern information technologies in the accounting process are relevant. Salaries are not only a source that ensures the life of employees, but their growth affects the increase in labor productivity and profit of the enterprise. Internal audit allows to ensure high-quality accounting of payments to employees, which is important in determining labor productivity indicators and ways to improve it. The purpose of the article is to substantiate the theoretical and methodological basis with the development of practical recommendations for improving the methodology of internal audit of employee benefits in order to improve the detailed audit content. It has been established that in order to ensure the correct and high-quality organization of internal audit, it is advisable to provide for the establishment of the internal audit service as a separate subdivision, providing the necessary number of accountants and auditors in the staff. The methodology of the internal audit of payroll has been improved in order to provide a detailed explanation of the content of the audit. The main objects of the internal audit of employee benefit calculations have been singled out. The sequence of the employee benefit calculations audit was determined. The internal auditor's working documents were formed: A statement of selective verification of vacation pay accrual and a Statement of violations revealed during the audit of employee benefit calculations. Using new changes and suggestions will allow the company’s internal audit service to cover all aspects of accounting and reporting on employee benefits. Preparation results of the internal audit of payments to employees in the form of proposed working documents will ensure that the results of the audit correspond to the actual state of Affairs at the enterprise and ensure the availability of information during the next audit. Prospects for further research should be carried out in the direction of developing a regulatory framework for internal audit, taking into account industry specifics affecting the economic activity of the enterprise.

scholarly journals ANALISIS DAMPAK ELECTRONIC DATA PROCESSING DALAM PROSES AUDIT INTERNAL BAGI AUDITOR INTERNAL PT BANK SULUTGO

2018 ◽  
Vol 14 (1) ◽  
Author(s):  
Reynaldi R. Mandagi ◽  
Sifrid S. Pangemanan ◽  
Heince R. N. Wokas
Keyword(s):  
Information Technology ◽  
Data Processing ◽  
Internal Audit ◽  
Electronic Data Processing ◽  
Computer Assisted ◽  
Accounting System ◽  
Similar Data ◽  
Audit Process ◽  
Electronic Data ◽  
And Control

Electronic Data Processing (EDP) is the use of automated methods for commercial data processing. As part of information technology, EDP performs repeated data processing of similar data with relatively simple forms of processing. Standar Profesional Akuntan Publik (SPAP) also emphasizes the need for auditor's understanding in examining a computer-based accounting system. This technique in Indonesian is known as Teknik Audit Berbantuan Komputer (TABK) or Computer Assisted Audit Techniques (CAATs) set forth in PSA No. 59 on Computer Assisted Auditing Techniques (SA Section 327). The method used in this study is a qualitative descriptive method by collecting and analyzing data and then drawing conclusions. The results obtained show that young auditors are more adaptable to the development of information technology, especially in conducting computerized internal audit and control. Impacts given in the audit process include increasing independence for internal auditors, providing accuracy and speed in managing data, and producing output from more accurate audit data processing. Impact on internal controls is to make the auditor perform internal control procedures after applying the EDP in the audit process to minimize the possibility of process errors, secure the program and data, and control the audit process to ensure that the audit has been properly implemented. The audit process using EDP is faced with several risks such as errors in data processing caused by human error, data loss caused by computer problems, and the computer used is exposed to the virus.Keywords : Analysis, Electronic Data Processing, Internal Audit

scholarly journals Modern financial control of operations at the enterprise: its essence and features

2020 ◽  
pp. 10-14
Author(s):  
Kseniia KOVTUNENKO ◽  
Kateryna BONDARENKO
Keyword(s):  
Public Finance ◽  
Financial Management ◽  
Internal Audit ◽  
The State ◽  
External Control ◽  
Financial Control ◽  
Finance Management ◽  
Current State ◽  
Role Of The State ◽  
Local Resource Management

The purpose of the paper is to improve institutions and legislation on public finance management in Ukraine, to define the concept of "financial control", to consider the process of development and formation of financial control, to highlight the financial control`s features, to justify the need for long-term financial control. Financial control and financial management in the enterprise are very important for every state. The current state of economic improvement in Ukraine should increase the role of the state in regulating the economy in order to identify differences between the law, recognizing the standards and functioning of financial control. At the present stage in Ukraine, the issue of establishing unification of public finance management remains unresolved: there is a discrepancy in state legislation. The Ukrainian economy`s growth leads to an additional need for financial control in a moment. Thus, its role and importance in securing the assets of different types of members’ organizations, the equipment`s efficiency, labour and finance. The paper is devoted to the key issues of finding ways to ensure financial control in the organization and the regulatory framework in this area. The paper presents an overview of financial control by state (local) resource management and their use, as well as financial control of public administration by the state external financial regulator (audit), the Ministry of Finance on behalf of the Verkhovna Rada of Ukraine, and public finance management, including internal management and internal audit, which are provided by current legislation. In the paper was presented a study of the financial control`s concept. The main types of financial control, its goals and objectives are researched. The author emphasizes the importance of the organization’s internal financial control and the key stages of its development. The types of external control and features of their application were also researched. In conclusion the Ukrainian financial management`s current state is researched.

scholarly journals Peculiarities of the accounting display of transactions with the give-and-take raw materials at restaurant institutions

2021 ◽  
Vol 68 (1) ◽  
pp. 87-95
Author(s):  
A. Tsiutsiak ◽  
I. Tsiutsiak
Keyword(s):  
Raw Materials ◽  
Balance Sheet ◽  
Economic Resources ◽  
Accounting System ◽  
Activity Type ◽  
Production Methods ◽  
Advantages And Disadvantages ◽  
Process Representation ◽  
Reliable Representation ◽  
Definition Of

The essence of the definition of «give-and-take raw materials» is investigated and the own vision of this category used by restaurant enterprises is formed. The scheme of conducting transactions with raw materials obtained on the give-and-take conditions at restaurants institutions is given. The peculiarities of the accounting process representation caused by the procurement of raw materials, production of semi-finished products and home-produced dishes are revealed, as well as the order of the realization accounting of such commodity stocks using production-trade and production methods is highlighted. The advantages and disadvantages of the representation in the system of bookkeeping accounts of the economic resources cycle in different ways of the production and trade activity organization of restaurant institutions are given. The emphasis is placed on the fact that in catering establishments the give-and-take raw materials, semi-finished products and home-produced dishes, produced as a result of give-and-take raw materials processings, are not the property of the catering establishment. Therefore, in order to maintain the proper accounting for transactions with the give-and-take raw materials, information about changes in the value of the investigated assets should be represented in the system of bookkeeping off-balance sheet accounts. The order of the display on the bookkeeping accounts of the transactions with the give-and-take raw materials obtained on the give-and-take conditions is highlighted. The peculiarities of calculation of dishes produced on the conditions of the give-and-take transactions are described. It is established that the formation of the value of produced semi-finished products or dishes is carried out for each order received separately, i.e. using the out-of-order cost accounting method. The peculiarities of calculation of home-produced dishes at restaurants institutions are outlined. For reliable representation of information on the availability and movement of the give-and-take raw materials, it is proposed for the enterprises of the investigated economic activity type to open the additional analytical accounts. Recommendations for improving the representation order in the accounting system, of restaurant institutions, give-and-take transactions, using offered analytical accounts, are formed.

scholarly journals The state of internal audit’s regulatory mandate

2016 ◽  
Vol 6 (3) ◽  
pp. 93-99
Author(s):  
Christo Ackermann
Keyword(s):  
Board Of Directors ◽  
South African ◽  
Best Practice ◽  
Internal Audit ◽  
Audit Committees ◽  
Detailed Review ◽  
Internal Audit Function ◽  
Key Stakeholders ◽  
The Board Of Directors ◽  
State Of Affairs

The importance of an effective internal audit function in South African municipalities have been recognised insofar as internal audit functions are legally mandated to exist within municipalities. This also means that legally, internal audit has certain mandates which must be fulfilled in order to add value to management and audit committees, and ultimately, to the board of directors. Even though internal audit is sanctioned by this important legal mandate, evidence shows that internal audit does not always fulfil this mandate. This state of affairs has prompted a detailed review of the relevant laws and regulations governing the work of internal audit in South African municipalities in order to determine the extent to which key stakeholders find the regulatory work of internal audit useful in discharging their (stakeholders’) oversight responsibilities. Questionnaires were administered to audit committees. The results summarise the extent to which internal audit’s work assists audit committees in their oversight responsibilities as this ultimately affects the ability of audit committees to fulfil these responsibilities to the board of directors. The results indicate that audit committees are greatly dependent on internal audit as a provider of assurance on a variety of legally mandated variables. The results of this study can be used as a measure of best practice of the legally mandated duties performed by internal audit. It can also be used by other researchers in comparative studies and by practitioners to benchmark their work in order to better serve audit committees and ultimately, the board of directors.

scholarly journals PARTICIPATIVE MANAGEMENT AS A TOOL TO ENSURE STRATEGIC DEVELOPMENT OF ENTERPRISES

2021 ◽  
Author(s):  
Viktoriia Kyfyak ◽  
Olena Herenda
Keyword(s):  
Managerial Behavior ◽  
Management Decisions ◽  
Strategic Development ◽  
Individual Level ◽  
Healthy Environment ◽  
Advantages And Disadvantages ◽  
Positive Side ◽  
Company Policy ◽  
The Individual ◽  
And Behavior

The main focus of this article is on the correlation between employee involvement in management decisions and the growth of both the organization and employees in all areas. The types of managerial behavior are analyzed, within which the main styles are identified, such as: authoritarian and democratic, as well as the advantages and disadvantages of each of them, their impact on the workforce and behavior. The article reflects the need to involve employees in order to improve performance and a sense of responsibility, and lists not only the positive side of this implementation, but also possible negative changes. Effective communication and involvement of staff in management decisions create a basis for ensuring the effective functioning of the enterprise. Involvement of employees, in this article, is not seen as a goal or tool, as is practiced in many organizations, but as a philosophy of management and leadership on how best in a healthy environment to realize their abilities, grow, improve and succeed in each unit and organization in general. The article discusses the main forms of participatory management: informal and short-term participation of personnel in management decisions, consultative involvement of employees, attraction of employees to ownership, involvement of employees in control and improvement of processes, involvement of personnel in decisions about company policy, participation in the organization's income, participation in profits of the organization, participation in the management of the organization. A distinctive feature of this method from many systems of remuneration for labor activity is that the latter are built on the recognition of the contribution of an employee of a given organization at the individual level. Participatory governance is based on the recognition of interests all personnel being reciprocal. This leads to the fact that there is an integration of these interests, and workers become more interested in the results of their work. Involving employees in the decision-making process not only reduces outsourcing, which saves money, time and offers the company long-term reliable assistance from employees who have knowledge of all the processes and deep needs of the corporation.

Assessment of methods for analyzing the economic security of the university

2021 ◽  
Vol 20 (12) ◽  
pp. 2365-2384
Author(s):  
Elizaveta E. ERMOSHINA
Keyword(s):  
Higher Education ◽  
Security Analysis ◽  
Education Institution ◽  
Economic Security ◽  
Management Decisions ◽  
Advantages And Disadvantages ◽  
Analysis And Synthesis ◽  
Commercial Organizations ◽  
The University ◽  
Methodological Guidelines

Subject. The article investigates the analysis of economic security of a higher education institution. It defines its directions, analytical indicators, methodological guidelines, considering the specific nature of activity, which contribute to improving the economic security and the quality of management decisions made by key executives of universities. Objectives. The purpose is to conduct a critical review and evaluate the main methods of economic security analysis of higher education institutions, taking into account the specifics of their activities. Methods. The study rests on general and specific methods of cognition (analysis and synthesis, induction and deduction, grouping, comparison, etc). Results. I reviewed the existing methods of analyzing the economic security of commercial organizations and higher educational institutions, systematized advantages and disadvantages of methods developed by scientists, substantiated the need to introduce diagnostic indicators to improve the quality and efficiency of analytical information for making informed management decisions. The paper offers to conduct an analysis of economic security, using indicators of intensity and productivity of labor, which consider the specifics of activities of universities in comparison with other organizations of the public sector. Conclusions. Currently, there is no unified approach to the analysis of economic security of universities. The conducted critical assessment of methodology may form a basis for further development of ideas and methodological guidelines on the analysis of economic security, and informed and effective management decisions.

Evolution of Internal Audit in the Context of Management Theories

Vestnik NSUEM ◽  
2021 ◽  
pp. 96-102
Author(s):  
S. A. Danilkova
Keyword(s):  
Internal Audit ◽  
Economic Literature ◽  
Advantages And Disadvantages ◽  
Management Theories

Based on the study of the economic literature of Russian and foreign authors, the historical stages of the formation and development of internal audit are considered, the approaches of scientists to the periodization of internal audit are systematized, the strengths and weaknesses of various opinions are determined. The author revealed the content of the theories of the audit with the indication of their advantages and disadvantages, and justified the author’s opinion on the issue of the evolution of internal audit in the context of various criteria and organizational and management theories, the directions for the implementation of internal audit in the context of managerial theories are indicated.

REFORMA TRIBUTÁRIA E SEUS BENEFÍCIOS À SOCIEDADE

2021 ◽  
Vol 9 (207) ◽  
pp. 1-15
Author(s):  
Luana Mara Santos de Souza Nunes ◽  
Vanessa Macano Albino ◽  
Maiara Cerqueira da Silva Saisse dos Santos ◽  
Bianca Machado Torres
Keyword(s):  
Social Justice ◽  
Tax Reform ◽  
Tax System ◽  
Advantages And Disadvantages ◽  
Single Tax ◽  
The Face ◽  
National Tax ◽  
Real Correction

In the face of so many taxes that Brazilians are obliged to pay and several times taxes that are not understood by ninety percent of the population, much is said about a tax reform that promises to transform many taxes into a single tax that will be collected throughout the country. country, therefore, simplifying the lives of thousands of Brazilians and companies that suffer from the collection of so many taxes. But will a change in the National Tax Code really bring benefits to society and companies? What will be its advantages and disadvantages in the face of the economic scenario we are experiencing today? It is also worth remembering that a real correction of existing distortions is necessary for the principles of equity and social justice to act. These are the questions proposed for reflection in this work, when dealing with the Brazilian tax system and its much-promised reform that aims to make it easier to understand what we really pay for our purchases and services.

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