Junaid M.Shayx,
Professor at Brunei University of Technology, Kingdom of Brunei. Darussalam. Email:
junaid9nine@gmail.com, ORCID: 0000 0003 3312 4635
Islоm Kuziev
i.f.d., professor, head of the “Audit” department, Tashkent Financial Institute, Tashkent,
Uzbekistan, Email: islomkuziyev1973@gmail.com, ORCID: 0000 0002 9794 8046
Ilhom Avazov
PhD., Associate Professor, Department of Audit, Tashkent Financial Institute, Tashkent,
Uzbekistan, Email: iavazov86@mail.ru, ORCID: 0000 0001 8917 6966
Matrasul Yaqubov
Senior Lecturer, Department of Audit, Tashkent Financial Institute, Tashkent,
Uzbekistan, Email: matrasul01@gmail.com, ORCID: 0000-0001-7417-7421
Abstract. The formation of a modern model of corporate governance in business entities based on various forms of ownership in our real estate is an important condition for the increase in the efficiency of their activities and investment attractiveness. In business entities based on this kind of management, the Internal audit Service will have its place and a number of important tasks will be put before it. But it remains an urgent issue to determine how effectively the tasks are carried out and to what extent the results obtained will affect the development of the activity of the business entity. In such cases, the market of audit services will become more and more complex, paving the way for the development of audit forms, including operational audit. Proceeding from this, this article describes the issues of the use of operational audit in assessing the effectiveness of the Internal audit Service Activities. Also, in the evaluation of the activities of the Internal audit Service, a description of the criteria for assessing the efficiency of the activity, as well as its effectiveness, which are considered the target direction of the operational audit is given. As a result of the research, the recommended composition of the criteria that characterize the effectiveness of the Internal audit Service activities were formulated. A comprehensive assessment of the effectiveness of operational audit of the enterprise, the development of practical proposals for forecasting and improving its financial condition and profitability, the assessment of its effectiveness in the current state of internal audit services in organizations are studied as an important factor in business development. Criteria for assessing the quality of the internal audit service include staff rotation, compliance with standards, effective time balance, time between direct audit procedures and preparation of the final report, comparison of time spent on a separate audit with the planned time, reputation of the internal audit. Taking into account these aspects, the article highlights important aspects of operational audit in assessing the effectiveness of the internal audit service established in organizations. At the same time, the necessary conclusions on the problematic situations that may arise on the topic, proposals for regulatory improvement and solutions to problems are formed.
Keywords. internal audit, operational audit, economy, efficiency, effectiveness