Improving the theoretical framework of internal audit in the corporate governance system

Research methods. In the corporate governance system, internal audit is studied using theoretical foundations, monographic observation, methods of analysis and synthesis, logical thinking.

Results and discussion. There is no single definition for the” concept of corporate governance". According to the definition of the World Bank, corporate governance is understood to be such a combination of legislation, norms and practice of the private sector in a suitable manner that they give the company the opportunity to attract financial and human resources, carry out effective activities, and consequently ensure that shareholders maintain their existence by increasing long-term economic value for their As can be seen from this definition, in today's modern economy, the organization of internal audit in enterprises in the corporate governance system on the basis of international standards is a periodical requirement.

Today, internal audit has become one of the main components of the enterprise's corporate governance system. Internal audit is also a positive advantage for potential investors, helping to increase the investment attractiveness of the enterprise. In addition, the organization of an internal audit system in companies helps to protect the interests and safety of the shareholders (owners) and the management, to be aware of errors and robberies, to eliminate the biggest mistakes and risks that may occur to the enterprise in the future, to identify its weaknesses and to develop management principles. The presence of internal audit in enterprises based on corporate governance is an important factor for the aksioner (proprietors) who entrust the management to professional managers. As our research shows, a number of problems of the organization of internal audit are observed in enterprises in the corporate governance system:

- firstly, the level of trust in the Internal audit Services is low and is regarded as excessive and malleable administrative procedure, rather than as a guarantee of maintaining the accuracy of the record keeping and the state of the structure of the reports to the internal audit;

- secondly, the lack of taking into account the quality and conclusions of the Internal audit Service in the external audit;

- third, the lack of theoretical and methodological bases for special training of internal auditors and adaptation of the current system of professional development to international requirements;

- from the four, the national standards of audit activity are not fully consistent with the generally accepted international auditing standards, which do not ensure the formation of the ability of foreign investors to understand the veracity of financial statements of local enterprises.

Also, the relevance of internal audit in the formation of effective corporate governance is closely related to the fact that the legislative framework of relations between management and owners has not been sufficiently developed and the procedure for the elimination of corporate conflicts.

In finding solutions to the above problems, it is expedient to create scientific sources on the theoretical and methodological basis of internal audit in the corporate governance system. Because, internal audit is an independent activity, providing object confirmation and advice, looking for ways to increase the value of the shareholder and improve the economic activity of the enterprise, creating the opportunity to develop a program of measures. As a result, in order for the internal audit to achieve the set objective of the enterprise, a systematic and sequential approach to evaluation and increase the effectiveness of risk management processes will help in internal control and corporate governance.

As a result of the study of theoretical-scientific and methodological sources related to the same field, managers, founders in the corporate governance system will have knowledge, information about the goals and objectives of internal audit and will achieve the purposeful, effective organization of this activity, full use of its capabilities.

As can be seen from the analysis, today the demand for specialists in maintaining the internal audit of the enterprise is increasing. But the requirements for them also increase. They must have knowledge in the Financial Field, understand internal control and corporate governance, know the national and international standards of internal audit, and also understand the specific characteristics of the activity to be analyzed.