Approaches to the Detection of Internal Control and Audit

Rusudan Kutateladze; Anzor Abralava; Nino Pailodze; Nino Taruashvili; Iasha Murvanidze

Rusudan Kutateladze Georgian Technical University, Tbilisi, Georgia
Anzor Abralava Georgian Technical University, Tbilisi, Georgia
Nino Pailodze Georgian Technical University, Tbilisi, Georgia
Nino Taruashvili Georgian Technical University, Tbilisi, Georgia
Iasha Murvanidze Black Sea International University, Tbilisi, Georgia

Keywords: Internal Audit, Internal Control, Control Procedures, Functional Approach

Abstract

The purpose of this research is to define approaches and control measures to the internal control and audit system in the economic entity, which is a key function of internal audit. The urgency of the research topic is driven by the need to improve the control system, which is one of the important factors for countries in transition economies. The methodological basis of the research was provided by the papers of Georgian and foreign scientists dedicated to the internal control of the corporation and specifically to the internal audit. The methodological basis of the research has become the dialectical method of studying economic events and processes. In addition, general and specific scientific methods of knowledge of events and facts were used. This study developed a set of documentation for performing control procedures that will reduce the time required for calculations and increase object verification accuracy. This study provides insights for scholars and practioners and encourages them to systematically analyze the audit and its development directions.

References

Boonvut, S. (2017). The quality financial statements of Small and Medium Enterprises Business (SME’s) in view of the tax auditor. International Journal of Business and Economic Affairs, 335-340.
doi: https://doi.org/10.24088/ijbea-2017-26002

Dwi, W. R., & Renny, W. (2017). Affecting compliant with the willingness to pay tax as an intervening variable factor (studies on the taxpayer owners of SMEs in pontianak KPP). Journal of Advances in Humanities and Social Sciences, 3(3), 152-163.
doi:https://doi.org/10.20474/jahss-3.3.3

Jensen, M. C., & Meckling, W. H. (1979). Theory of the firm: Managerial behavior, agency costs, and ownership structure. In Economics social institutions (pp. 163--231). Dordrecht, Netherlands: Springer.

Lynch, R. (2006). Corporate strategy. New Jersey, NJ: Prentice Hall.

Pailodze, N., & Kutateladze, R. (2018). Analysis of accounting and control in Georgia. International Journal of Business and Economic Affairs, 3(4), 171-177.
doi: https://doi.org/0.24088/IJBEA-2018-34004

Sulashvili, G., & Murvanidze, I. (2017). Priorities for strategic management improvement of companies. In International Scientific Conference on Globalization and Modern Business Challenges, Tbilisi, Georgia.

Sulashvili, G., Pailodze, N., Abralava, A., Kutateladze, R., Sulashvili, M., Murvanidze, I., ... Kipiani, S. (2017). The issues regarding the refinement of effective management of the company. International Journal of Business and Economic Affairs, 2(3), 206-210.
doi: https://doi.org/10.24088/ijbea-2017-23005

Sulashvili, G., Sulashvili, M., Murvanidze, I., Pailodze, N., & Taruashvili, N. (2018). The peculiarities of accounting and the ways of their solution. International Journal of Business and Economic Affairs, 3(4), 153-159.
doi: https://doi.org/10.24088/ijbea-2018-34002

Sulashvili, M., Murvanidze, I., & Taruashvili, N. (2018). Main aspects of financial control in activities of organizations. In International Scientific Conference on Globalization and Modern Business Challenges, Tbilisi, Georgia.