Directions for improving the internal control and audit system at an enterprise

Abstract

This article examines the content, functions and components of internal control and audit in an enterprise and their influence on operational efficiency. Internal control is considered as an important mechanism for safeguarding resources, ensuring the legality and appropriateness of transactions, improving the reliability of financial reporting and identifying errors in a timely manner. The role of internal audit in evaluating controls, identifying risks and developing recommendations is also analyzed. The study systematizes the control environment, risk assessment, control procedures, information exchange and monitoring. Major internal control problems, their impact on audit procedures and possible improvement measures are analyzed using tables. Practical recommendations are proposed for integrating internal control and audit, strengthening a risk-based approach, improving documentation and monitoring.