Business and the internal control system of the audited entity

An important section in any well-functioning company is the internal control system. As one of the functions of management activities, which determines the quantitative and qualitative assessment of the company's performance, control helps to identify vulnerabilities in the company in a timely manner. The fundamental purpose of this work is to study the internal control system and to disclose the concept of the audited entity's business from the theoretical and practical side. In the course of the study, the authors concluded that in order to build an effective internal control system, it is necessary to develop subsections in business processes that lead to control at each process chain

Process and risk-based principles of internal control in the organization's management system

The main criteria for successful enterprise management are efficiency and effectiveness, and control as one of the management functions, in fact, is aimed at ensuring them. At the same time, the modern system of internal control often goes beyond financial regulation and becomes a single entity with the quality management systems of the organization, providing monitoring of the efficiency and effectiveness of entire business processes. The relevance of internal control issues increases due to the growth of economic instability and the emergence of new risks. At the same time, there is currently no effective practice of implementing internal control systems based on process-based and risk-based approaches, and the scope of regulation of these processes differs both in the methodological (recommendatory) nature of the acts themselves and in the inconsistency of their content