Formalization of theoretical tools for risks of internal audit system identification

  • А. Semenets Kharkiv Institute of Finance of Kyiv National University of Trade and Economics
Keywords: internal audit; business risk; internal audit risk; controlled environment; risk assessment; risk identification algorithm.


Methodological principles formalization and practical tools development for risks of internal audit system identification is the subject of this study. The purpose of paper is to develop scientifically substantiated proposals for improving the methods for entrepreneurial risk assessing in internal audit system. Achievement of the goal set in the article was carried out with help of general and special research methods, namely: dialectical approach, analysis and synthesis, systematization and generalization. Article presents the categorical and terminological interpretation of risks of internal audit system and substantiates the basic characteristics of business risk. Study tested general audit risk components and influence of the controlled environment internal factors on risk of internal audit system. It was established in the article the place of business risk and internal audit risk in the entity’s controlled environment. With purpose of risks systematization for taking them into account in management process algorithms of entity’s controlled environment risks identification was developed. As a result, developed scientifically-based risk identification tool in internal audit system allowed identification and timely elimination of risky business operations consequences.


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How to Cite
SemenetsА. (2019). Formalization of theoretical tools for risks of internal audit system identification. Fundamental and Applied Researches in Practice of Leading Scientific Schools, 31(1), 182-189.