Industrial stocks: legal regulation of accounting and proposals for improving the efficiency of internal audit

Shendryhorenko, Maryna and Шендригоренко, Марина Трохимівна (2019) Industrial stocks: legal regulation of accounting and proposals for improving the efficiency of internal audit. Науковий вісник Міжнародного гуманітарного університету. Серія: «Економіка і менеджмент» (36). pp. 182-188. ISSN 2413-2675

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Abstract

The article substantiates the necessity of studying the economic essence of industrial stocks on the basis of systematization of economic sources and legal acts. Theoretically substantiated the importance of industrial stocks for the operation of the entity. Done overview of main legislative acts and normative documents regulating the accounting, taxation and audit of operations with industrial stocks. The purpose of the internal audit of industrial stocks is specified by the author of this article. The expediency of developing an internal auditor of audit working documents in which systematized information about industrial stocks for the checked period is substantiated. It is proposed by the result of checking the contents of the order on accounting policy for the internal auditor to compile a questionnaire for assessing the elements of the accounting policy of the enterprise. The working document of the internal auditor on the generalization of results of checking the balances of production stocks according to the data of the Main book and accounting registers is proposed for practical use. The basic principles of the internal audit of operations with industrial stocks are determined and suggestions for improving the effectiveness of the verification are provided. The practical use of the proposed audit working documents will allow the internal auditor to quickly summarize audit evidence regarding the amount of industrial stocks, which is the main part of the current assets of the enterprise. Prospects of the organization and methodology of inventory audit at enterprises, taking into account the specifics of their activities are outlined by the author of this article. The author of the article emphasizes the need for further scientific research of the organization and methods of internal audit of operations with industrial stocks at enterprises of different sectors of the economy, which should be aimed at increasing the information and efficiency of internal auditing of current assets. This will reduce the risk of non-disclosure of violations and abuses of industrial stocks and prevent them from occurring in the future.

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