CORPORATE RISK MANAGEMENT BASED ON INTERNAL AUDIT

Abstract

Therefore, without taking them into account in the long-term planning of the company’s activities, it is impossible to maximize the return on business and reduce undesirable externalities, in particular, total transaction costs. To form a corporate risk management system, it is advisable to periodically conduct an internal audit, in which the management increases the probability of detecting potential threats and develop measures to minimize or completely level them. In this article, it is proposed to work out the theoretical and methodological aspects of internal audit at the enterprise in order to manage corporate risks. From the author’s point of view, conducting audit procedures to analyze the effectiveness of internal processes of an enterprise allows you to identify problems in operations at specific divisions, the combination of which contributes to the creation and strengthening of risk situations. The study resulted in the formation of the fundamental aspects of the internal audit program, taking into account the current management standards and strategic business zones of the enterprise. Based on the obtained data, it is planned to develop practical measures for monitoring the business processes of the enterprise in the future to minimize potential risks, and the structural definition of functional models for a specific enterprise will provide an opportunity to realize the hidden internal