One of the major International internal audit practices is the use of risk-based planning when selecting audit entities and entities. In the course of the study, the conformity of internal audit activities with national standards was analyzed, with the simultaneous implementation of International standards of professional practice based on risk-oriented planning.
The article summarizes the scientific discussions on bringing internal audit in line with International standards, assessing risks in the process of risk-oriented planning of audit activities, and examining the practical effects of implementing a system of risk-oriented planning.
It is proved that, as of today, the forces of the Internal Audit Service units are not enough to conduct a thorough inspection of all military units, institutions, organizations of the Ministry of Defense of Ukraine. The need for quality audit planning is formulated in order to cover precisely those entities that have identified the greatest threats and risks.
The issue of risk-oriented planning of internal audit is revealed in the following logical sequence: the general regulation of this process is determined, the components of risk-oriented planning are analyzed and the method of plan development on the basis of risk-oriented audit selection is proposed. In particular, the issues of risk identification, risk assessment according to the relevant criteria, risk assessment using points are discussed in detail.
The study empirically confirms and theoretically demonstrates that risk-oriented planning is an integral and important component of audit activity. The importance of this direction in the context of the obtained economic effect of preventive measures has been proved.
On the basis of the analysis, the existing problems were identified and a set of theoretical and practical recommendations was substantiated with the purpose of improving the mentioned process in the Ministry of Defense of Ukraine and practical application of the developed methodological approaches to risk-oriented planning.
The results of the study may be useful in planning the audit activity for the relevant period.