Subject The article overviews new public administration approaches and creation of innovative business models to address environmental challenges. The article suggests developing the independent audit practice as a tool for environmental risk management in evaluating various types of production, technological processes and infrastructure projects. Objectives The research analyzes the origination and development of the independent environmental audit practice in Russia. Methods The research is based on general, legal and special analysis. Results We investigated conceptual and legislative principles of environmental audit, approaches to determining the role of environmental audit and segregating duties of governmental authorities and independent audit entities in environmental risks assessment. As a result of the analysis, we provide our recommendations on the development of the independent environmental audit practice in Russia in terms of its legislative regulation, preparation and implementation of governmental programs for environmental initiative incentives, maintenance of generally accessible environmental data bases and publication of environmental ratings. Conclusions and Relevance Implying the comprehensive approach to the independent environmental audit development in Russia, the recommendations can be used to improve the environmental risk management system in Russia.
Keywords: environmental audit, environmental risk assessment, management systems audit
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