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Liburkina L. M.

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Analyzing the Impact of the Internal Audit Service on the Activities of Economic Entities
Shot A. P.

Shot, Anna P. (2020) “Analyzing the Impact of the Internal Audit Service on the Activities of Economic Entities.” Business Inform 1:278–284.
https://doi.org/10.32983/2222-4459-2020-1-278-284

Section: Accounting and Auditing

Article is written in Ukrainian
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UDC 657.62:657.633

Abstract:
With the globalization of the economy and European integration processes in Ukraine, the problem of infringements in the public sector of the economy, budgetary abuses, financial and material losses as result of fraud is becoming more and more large-scale, acquires the State-level importance and causes concern of business owners, heads of the State-owned institutions. Relevance of the study is due to the need to minimize financial losses, the risk of fraud in the public sector and business structures, which is possible if internal audits are effective and financial control is strengthened. The study is aimed at analyzing violations of budget legislation, losses from fraud; proving the necessity and importance of the internal audit service. The main ways of organizing an internal audit in Ukraine are considered. It is determined that audit-outstaffing is not fully regulated in the legislative field, which creates problems for both the outstaffer and the customer of services. It is defined that the existence in Ukraine of various forms of internal audit organization is caused by the needs of the time and the increased requirements for the personnel of this service, which today is a necessary internal control instrument, designed to to prevent violations in all areas of the company’s operations. An analysis of infringements of budget legislation and losses from fraud is carried out. The need to improve the level of professional training, qualifications of auditors and their responsibility, taking into account the requirements of time and international experience, is substantiated. Indicators to assess the performance of the internal audit service are proposed. It is proven that the financial condition and economic security of both enterprise and the State depend to a large extent on the activities of the internal audit service.

Keywords: internal audit, enterprises, financial losses, analysis, fraud, public sector of economy, business structures.

Fig.: 2. Tabl.: 1. Bibl.: 10.

Shot Anna P. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting, Analysis and Control, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]

List of references in article

[Legal Act of Ukraine] (2010). https://zakon.rada.gov.ua/laws/show/2456-17
[Legal Act of Ukraine] (2017). https://zakon.rada.gov.ua/laws/show/142-2017-р
[Legal Act of Ukraine] (2011). https://www.nssmc.gov.ua/documents/metoditchn-rekomendats-z-organzats-vnutrshnyogo-auditu-v-aktsonernih-tovaristvah/
[Legal Act of Ukraine] (2011). https://zakon.rada.gov.ua/laws/show/3392-17
[Legal Act of Ukraine] (2001). https://zakon.rada.gov.ua/laws/show/2341-14
[Legal Act of Ukraine] (2012). https://zakon.rada.gov.ua/laws/show/5067-17
[Legal Act of Ukraine] (2011). https://zakon.rada.gov.ua/laws/show/z1219-11
“Rezultaty diialnosti Derzhavnoi audytorskoi sluzhby ta yii terytorialnykh orhaniv za 2018 rik“ [Performance of the State Audit Service and Its Territorial Bodies for 2018]. http://www.dkrs.gov.ua/kru/uk/publish/article/139470;jsessionid=B45E0DAA64D4CB5A1F2F36F32888CABE.app1
“Zvitnist Rakhunkovoi palaty Ukrainy za 2016-2018 rr.“ [Accounting Chamber of Ukraine Reporting for 2016-2018]. http://www.ac-rada.gov.ua/control/main/uk/publish/category/32826
Klimchak, M. “Vsesvitnie doslidzhennia ekonomichnykh zlochyniv ta shakhraistv 2018 : rezultaty opytuvannia ukrainskykh orhanizatsii“ [World Economic Crime and Fraud Survey 2018: Survey Results of Ukrainian Organizations]. https://www.pwc.com/ua/uk/survey/2018/pwc-gecs-2018-ukr.pdf

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