TRANSFORMATION OF THE INTERNAL AUDIT IS AN EFFECTIVE WAY TO INCREASE THE CONTRIBUTION TO THE SUSTAINABLE DEVELOPMENT OF A BUSINESS ENTITY

DOI: 10.36871/ek.up.p.r.2021.02.02.020
UDC 657.6

Authors

PHAN THI THANH QUYEN,
Postgraduate Student, Audit and Corporate Reporting Department, Financial University under the Government of Russia, Moscow, Russia

Abstract

The role of internal audit in ensuring sustainable development of economic entities is indisputable. How-ever, the biggest challenge faced by internal auditors is how the level of their contribution can truly be weighed against the ability and role recognized by society, especially as most economic actors move from a traditional business model to a sustainable business model. The article highlights the main approaches to the transfor-mation of internal audit in order to make it an integral part of the corporate governance structure and make a significant contribution to sustainable development.

Keywords

sustainable development, internal audit, transformation, contribution, economic entity.