ISSUES OF INCREASING THE EFFICIENCY OF INTERNAL AUDIT IN THE REPUBLIC OF UZBEKISTAN

Abstract In developed countries, corporations pay great attention to improving the efficiency of corporate governance and risk management. In this process, the importance of identifying cases of fraud and eliminating them through the effective organization of the internal audit service in corporate structures increases. In particular, “the internal audit service in regions of the world identified from 11% to 23% of fraud cases” [7]. Therefore, it is necessary to pay special attention to internal audit and eliminate its problems in theoretical, methodological and practical aspects, widely use digital technologies, achieve the unification of internal audit standards and their implementation throughout the world. In various countries of the world, special attention is paid to scientific research aimed at improving the methodological foundations of internal audit in the context of economic globalization. This study addresses the issues of planning internal audit inspections in joint stock companies, identifying risks associated with fraud, improving the quality of internal audit inspections, and drawing up internal audit reports. It should be recognized that in the field of research, improvements have been simultaneously achieved in the process of identifying and eliminating cases of fraud in internal audit, the use of analytical procedures in internal audit audits, and assessing the effectiveness of the internal control system. However, pressing issues related to the organization of internal audit methodology in joint-stock companies at the level of international standards have not yet been fully resolved.