THE ECONOMIC SUBSTANCE OF THE CONCEPT OF “RISK-BASED INTERNAL AUDITING” AND THE THEORETICAL FOUNDATIONS OF ITS APPLICATION IN LIGHT INDUSTRY ENTERPRISES
DOI:
https://doi.org/10.5281/zenodo.21538185Abstract
This article examines the economic substance of the concept of “risk-based internal auditing.” Based on a
comparative analysis of existing approaches, the study proposes an author-developed definition of the concept and substantiates
its five defining attributes. The research methodology includes a systematic literature review, comparative analysis, logical
generalisation and synthesis, and scientific abstraction. The proposed definition and conceptual framework provide a theoretical
basis for improving internal control, risk management, and internal audit practices in light industry enterprises.
Keywords
internal auditing, risk-based internal auditing, internal control, risk management, risk appetite, light industry.References
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