Internal audit and control in an enterprise: how it works and why it is needed

Abstract

The author examines the importance and principles of functioning of internal audit and control at enterprises, which is a key tool for ensuring the efficiency of the company, preventing possible problems and compliance of activities with legal and regulatory requirements. The article describes in detail the main stages of conducting an internal audit, including planning, conducting, preparing a report and implementing recommendations. Various types of audits are also discussed, such as: • Audit of the accounting system. • Audit of the risk management system. • Audit of the quality management system. • Audit of personnel policy. • Information security audit. • Audit of logistics processes. • Environmental safety audit. • Occupational safety audit. Particular attention is paid to the role of auditors and the importance of independence and impartiality in the conduct of audits. The article will be useful to business managers, financial directors, auditors and anyone interested in management and control issues in business.