Specifics of Formation and Integration of Internal Audit System into Joint Stock Company Corporate Management System

Oleksandr Smetanko ()
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Oleksandr Smetanko: Crimean Economic Institute of the Main Institution of Higher Education 'Kyiv National Economic University named after Vadym Hetman'

Oblik i finansi, 2013, issue 3, 107-112

Abstract: Availability of diversity structures and complex management systems create objective preconditions for establishing internal audit service within the corporate management structure. According to the research done, nowadays there is a considerable shortage of methodical materials and recommendations on establishing, implementation and functioning of internal audit service. Therefore, there exists a necessity of applying comprehensive approach to grounding models of organization (formation), principles and factors affecting the process of setting and further integration of internal audit service into joint-stock company corporate management system. In the study the models, factors, conditions, preconditions and approaches connected with setting-up internal audit serviced have been considered. Main stages and principles of setting-up and further functioning of internal audit service in joint-stock companies of Ukraine have been highlighted. The use of the proposed stages and approaches to setting-up internal audit service will make it possible to determine principle goals on the stage of its formation and integration into the system of corporate management, and differentiate functional duties and powers among internal auditors, management personnel and joint-stock company founders (shareholders).

Keywords: internal audit; internal auditing service; internal auditing principles; corporate governance; internal auditing standards (search for similar items in EconPapers)
JEL-codes: M42 (search for similar items in EconPapers)
Date: 2013
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