INTERNAL AUDIT OF FINANCIAL INSTRUMENTS IS THE BASIS OF THE ENTERPRISE CONTROL SYSTEM
Abstract
The article is devoted to the topical issues of internal audit of financial instruments of the enterprise, it is proved how as a result of internal audit activities at the enterprise the general management system of such a business entity is assessed, as well as financial reports, risks and, in particular, internal processes at the level of accounting for business transactions with financial instruments. The aspect that in conditions of martial law, regulatory legal acts on internal audit do not establish restrictions on remote (in-office) conduct of internal audits, as well as other necessary management decisions that would ensure or make impossible the activities of the internal audit unit, is analyzed. A number of optimized methods are proposed for the perfect implementation of internal audit of transactions with financial instruments at the Enterprise. It is proved how compliance with this methodological plan when implementing internal audit of transactions with financial instruments will serve to reduce the level of risk of operations in terms of errors and not illegal actions, which in turn will serve to improve the financial performance of the entire Enterprise. It is investigated how internal audit plays the role of a diagnostic tool in enterprise management, this is especially important in conditions of martial law, because internal auditors conduct an expert assessment of the processes taking place at the enterprise, assessing the accounting policy, the correctness of registration of economic processes, the correctness of data transfer to accounting registers, and then to reporting forms, the activities of internal economic control, which is carried out by structural units of the enterprise, in particular, the asset control system. It is proven that internal audit is the basis of control and guarantees for ensuring the reliability of financial reporting. A thorough check of transactions with financial instruments is a rather difficult but extremely necessary process in the global control system, which in turn prevents the risks of fraud and reduces the inflow of economic resources, and as a result will contribute to improving financial indicators.
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