Internal Control and Audit of Economic Entities with Integrated Reporting

The current economy has no single approach to internal control and internal audit: the patterns of their functioning and interaction remain unclear. The authors studied the specifics of internal control and internal audit in economic entities with integrated reporting to propose a new internal control system. The research relied on Russian and international documents of internal control and audit, as well as on the national register of corporate non-financial reports of the Russian Union of Industrialists and Entrepreneurs. The research covered integrated reports made in 2023–2024 to identify economic entities whose reports contained sections on corporate risk management. The analysis made it possible to identify the key trends in the development of internal control and risk management systems. Internal control and audit are complex processes that depend the organizational and legal form of the economic entity, the industry it belongs to, and the level of its human capital. Economic entities use various options to design and implement internal control and audit. The new concept of internal control system organizes a two-way interaction of internal control and internal audit.