Improving internal audit in budgetary organizations based on a risk-based methodology

Abstract

This article examines the issues of reforming internal audit in budgetary organizations based on a risk-based internal auditing methodology. The objective of the study is to develop an integrated, repeatable, and quantitatively measurable multi-criteria approach for identifying, assessing, and prioritizing risks in the process of selecting internal audit engagements. The research methodology is based on document analysis, expert evaluation, the Analytic Hierarchy Process (AHP), and multi-criteria decision-making techniques.