BUSINESS INFORM №5-2014

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57

Section: Accounting and Auditing
UDC 657.631
Khorunzhak N. M.
Problems and Prospects of Internal Control System and Audit Development in the Budget Sphere (p. 322 - 326)
The goal of the article is theoretical justification of expediency of positioning control by hierarchy levels, formulation of relevant goals of its conduct and development of recommendations for ensuring optimal distribution of tasks between control subjects. The basis of the author’s position is formed by essential characteristics and formation of definitions of the “internal control” and “internal audit” terms and also by the management system need in information that allows making decisions about selection of directions of activity and rationalisation of use of available resources. In the result of the study and on the basis of the study of the control goal, established by the current legislation of Ukraine with respect to various subjects, the article holds about expediency of formation of a better hierarchical structure of control. Moreover, the article develops proposals that ensure avoidance of duplication of control functions. Prospects of further scientific studies are connected with absence of a single approach and a necessity of formation of methodological grounds of risk assessment in the course of internal audit. The article offers to consider division of the assessment system by detailing levels (detailed – for internal audit subdivisions and less detailed or selective – for budget institutions) as a basic concept of this assessment.
Keywords: budget institutions, control system, internal control, internal audit, goal, tasks, functions, improvement
Fig.: 1. Tabl.: 1. Bibl.: 17.

Khorunzhak Nadiya M. – Doctor of Sciences (Economics), Professor, Professor, Department of Accounting and Taxation, West Ukrainian National University (11 Lvivska Str., Ternopil, 46009, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Khorunzhak, Nadiya M. (2014) “Problems and Prospects of Internal Control System and Audit Development in the Budget Sphere.” Business Inform 5:322–326.

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