INTERNAL AUDIT ENTITY IN MODERN SOCIO-ECONOMIC CONDITIONS

Abstract

The article examines the essence of internal audit as an important prerequisite for effective functioning of a business entity. It is determined that internal audit implies ongoing activities of the internal audit service of the enterprise, which can be considered as a separate type of audit services. It is substantiated that internal audit contributes to the value increase of an entity when it is focused on the prevention of adverse events, while providing objective confirmation of the reliability of information and providing insight into the effectiveness and efficiency of risk management, internal control and corporate governance processes. Approaches to planning of internal audit are outlined; its planning scheme is formed. It is determined that the quality of the internal audit of an entity directly depends on the developed standards that determine the features of its organization. The directions of transformation of internal audit in modern socio-economicconditions, namely with the introduction of 5G, are studied.