THE ROLE OF AUDIT AND CONTROL IN MODERN CONDITIONS OF ECONOMIC DEVELOPMENT

The article reveals the essence and innovativeness of audit in the conditions of rapid development of the market economy in the era of the XNUMXst century. Undoubtedly, the phenomenon of our study plays a very important role in the activities of any economic entity. After all, thanks to the audit, the company gets the opportunity to obtain information about the financial condition of the object, helps determine the organization’s reserves, identify certain risks, find ways to eliminate them, and generally assess its development prospects at both micro and macro levels. These factors primarily increase the relevance of our research topic, as audit plays a key role in ensuring the sustainable development and functioning of any enterprise. In addition, during the writing of this article, we studied the basic principles of conducting audit activities. We also considered the classification of the main types of risks depending on various factors. An analysis was carried out of the main functions of the audit, including: expert, advisory, analytical, and informational. Thus, we can conclude that it is essential for any company to use audit and control in order to maximize the optimization of accounting within the organization and improve the entire business process as a whole. It is no coincidence that audit remains a priority area in the financial control system today.