Home  Journals  International Accounting  1(487) - 2022 January

Methodological approaches to the evaluation of internal control during the audit of the "Output of Products" business process productivity

Received: 30 December 2021

Received in revised form: 10 January 2022

Accepted: 12 January 2022

Available online: 17 January 2022

Subject Heading: AUDIT ACTIVITY

JEL Classification: М41, М42

Pages: 58–74

https://doi.org/10.24891/ia.25.1.58

Subject. This article deals with the issues of improving methodological approaches to the evaluation of internal control.
Objectives. The article aims to clarify the methodology for evaluating the internal control of costs for the production of livestock products, taking into account the peculiarities of agriculture and the business process Output of Products.
Methods. For the study, I used the methods of abstraction, analysis, systematization, and generalization.
Results. The article offers a developed methodological toolkit for evaluating the internal control system of an economic entity. It includes regulations for assessing the level of the client's internal control system and determining the efficiency rating. The proposed methodology is based on the point-rating system of internal control evaluation.
Conclusions and Relevance. The objectives of internal control are not limited only to checking the functioning of accounting systems and preparing accounting (financial) statements, including compliance with the requirements of regulatory enactments when committing facts of economic life of an economic entity. They are also focused on assessing the achievement of the goals of an economic entity and the effectiveness of its business processes. The results of the study can be used to develop theoretical and practical provisions of the activities of audit organizations and auditors.

Keywords: auditing, business process, internal control, assessment

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