The article deals with the nature and function of the internal risk-based audit process approach to create patterns of risks and methods of evaluation. Deals with the relationship between the level of maturity of the risk of the company and the method of risk-based internal audit. it was emphasized that internal auditing provides an independent and objective opinion to an organization’s management as to whether its risks are being managed to acceptable levels.

Keywords: risk, internal risk – oriented audit, risk management, owners risk, probability and consequences (strength impact) risk, “risk appetite”, level of maturity risks.

Date of submission 08.07.2017

DOI: https://doi.org/10.17721/1728-2667.2017/194-5/2

References

1. Baidashnikova, T., 2012. Closed loop maneuvers future internal auditors. Financial control, 1 (72), pp. 16-17.
2. Berenda, N.I., Dyakova, N.I., 2015. Organization of internal audit at the enterprises of Ukraine. Scientific Bulletin of Uzhhorod University, Series Economics, 1 (45), pp. 242 – 245.
3. Dolinska, O.M., 2014. Legal and regulatory basis of organization of internal auditing in commercial banks. Socially-economical problems of the daily period of Ukraine. Problems of the integration of Ukraine in the world of finance, 1 (105), рр. 403 – 410.
4. Dmytrenko, I.M.,Shuhman M.E., 2013. Internal audit in corporations: systematic approach to organization. p 267.
5. Dorosh, N.I., 2006. Audit: theory and practice. Znannya, p 495.
6. Dorosh, N.I., 2014. Foreign experience of certification of internal auditors. Accounting, economics, management: scientific notes, 2, p. 247 – 255.
7. Investigation of the practice of internal audit and control in Ukraine. Available at: http://www.ifc.org/ifcext/eca.nsf/ AttachmentsByTitle/IAIC_StudyFinal_Ukr.pdf/$FILE/IAIC_StudyFinal_Ukr.pdf
8. Kamenska, T.O. Fraud in the auditing verification // Accounting and audit – 2015. – №6 – pp. 2 – 9.
9. Kamenska, T.O., 2010. Internal audit: Modern look, p. 499.
10. Nazarova, K.O., 2015. Prospects for Implementation of Results of the Synergy between Internal and External Audit. Business Inform, pp. 219 – 224.
11. Handbook of internal quality control, auditing, review, other assurance, and related services pronouncements. – 2014 edition – 2 volumes. Available at: http://apu.com.ua/msa
12. Order of the Ministry of Finance of Ukraine. On Approval of Internal Audit Standards, dated October 04, 2011 No. 1247, Verkhovna Rada of Ukraine. Available at: http://zakon2.rada. gov.ua/laws/show/z1219-11
13. Proskurina, N.M., 2011. Procedural providing. Theory and practice. News (press) analytical agency, p. 739.
14. Smetanko, O.V., 2013. Theory and practice of internal audit in joint-stock companies of Ukraine. Kyiv.KNEU, p. 436.
15. Suhareva, L.O., Saenko, A.O., 2013. Custom research in auditing the general system: methodological aspect. Donetsk National University of Economics and Trade named Mykhailo Tugan-Baranovsky, 3 (59), pp.147-153.
16. Homa, D.M., 2010. Internal audit: course of lectures. University of Economics and Entrepreneurship, p. 173.
17. Shalimova, N.S., 2014. Audit Quality as the Key Criterion of Assessment of its Effectiveness in the System of Socio-economic Processes. Business­inform. Accounting and audit, 4, pp. 335 – 340.
18. Shuhman, M.E., 2015. Conceptualization of the internal audit management of corporation. Global and National Problems of Economy,6.
19. Yanchev, A.V., 2016. Contemporary concept of organization of internal audit in the management of expenses of restaurant Business Inform, 7, pp.119 – 124. Available at: business-inform.net
20. International Professional Practices Framework (IPPF) 2013 Edition. Copyrigt, 2009 – 2012 by The Institute of Internal Auditors, 247 Maitland Avenue, Altamonte Springs, Florrida 32701 – 4201, USA. Available at: http://www.theiia.org/bookstore/product/international-professional-practices-framework-2011- 1533.cfm
21. Matthew, S. Ege, 2015. Does Internal Audit Function Quality Deter Management Misconduct?. The Accounting Review: March 2015, Vol. 90, No. 2, pp. 495-527. http://dx.doi.org/10.2308/accr-50871
22. Moeller, Robert, R., 2009. Brink’s modern internal auditing: a common body of knowledge. John Wiley & Sons, 7, p.794.
23. Pizzini, M., Lin, S., & Ziegenfuss, D. E., 2014. The impact of internal audit function quality and contribution on audit delay. Auditing: A Journal of Practice & Theory, 34(1), 25-58. DOI: http://dx.doi.org/10.2308/ajpt-50848
24. Griffiths D., 2006. Risk based internal auditing. Three views on implementation/ Implementing RBIA – guidance for internal audit staff , p.89