FORMATION OF A RISK-BASED INTERNAL AUDIT SYSTEM IN BUDGETARY ORGANIZATIONS AND ASSESSMENT OF FACTORS AFFECTING ITS EFFECTIVENESS
Keywords:
Budgetary organizations, internal audit, risk-based audit, risk assessment, audit effectiveness, internal control, financial control, audit planning, risk management, auditor independence, professional competence, digital audit, monitoring, performance indicators, public financial management.Abstract
This article examines the theoretical and practical aspects of developing a risk-based internal audit system in budgetary organizations. Particular attention is paid to the importance of mechanisms for identifying, assessing, prioritizing, and managing risks within the internal audit process. The study also systematizes organizational, financial, institutional, technological, and human-related factors affecting the effectiveness of internal audit in budgetary organizations. Issues related to the development of risk-based audit plans, classification of audit objects according to risk levels, assessment of the reliability of internal control systems, and monitoring the implementation of audit recommendations are analyzed. The research findings substantiate that the functional independence and professional competence of internal auditors, management support, the use of digital technologies, the availability of an effective risk assessment methodology, and the efficiency of the internal control system are among the key factors influencing internal audit effectiveness in budgetary organizations. Based on these findings, scientific and practical recommendations aimed at improving the risk-based internal audit system and enhancing its overall effectiveness have been developed.
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