INTERNAL CONTROL AND INTERNAL AUDIT: DEFINITION, SIMILARITIES AND DIFFERENCES
Journal Title: Економіка: реалії часу - Year 2016, Vol 1, Issue 23
Abstract
Today, construction control business enterprises need to pay much attention because it is one of the most important elements of the overall system management. Objective: To determine the interpretation of the concepts of "internal control" and "internal audit" their content, similarities and differences. Implementation of the company internal audit or internal control can be performed on a systematic basis and implemented as employees of the enterprise and external performers. Analysis of the definition of "internal control" and "internal audit" was conducted on the basis of legislative and regulatory sources and scientific works, as evidenced by the existence of different approaches to defining the essence of these categories. Analyzing this question shows that the majority of authors (scientists) the term "internal control" regarded as "process" or "system", and "internal audit" as "activity". The next stage of research is determining similarities and differences of internal control and internal audit in the overall system management. Internal control is a broader concept than internal audit. Internal control should cover all economic activities of the company, be current and be heads of all departments. Internal audit is not dependent on the head of the company, control of the company, which carried out the relevant experts from specially designed internal documents. Conducted a theoretical study treatment categories of «internal control» and «internal audit» in legislative and regulatory sources and scientific works of scientists has revealed the main approaches in determining the nature and content of these concepts and their similarities and differences in the overall enterprise management system. Future research is to determine the stage of internal control of their content and the development of domestic documentary support.
Authors and Affiliations
Oksana Varchuk, Olena Grabovenko
Keywords
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