UDC 657.6
DOI: https://doi.org/10.30839/2072-7941.2018.149678

INTERNAL AUDIT AND CONTROL IN A COMPANY IN THE
CONTEXT OF MANAGEMENT ACTIVITY

© GABREVICIENE, AUSRA
Lecturer, Marijampole College (Marijampole, Lithuania)
E-mail: ausra.gabreviciene@mkolegija.lt, ORCID 0000-0001-7685-1440
© PETROSIENE, BIRUTE
Lecturer, Marijampole College (Marijampole, Lithuania)
E-mail: birute.petrosiene@mkolegija.lt, ORCID 0000-0002-5160-8249
© SIDLAUSKIENE, DANGUOLE
Lecturer, Master of Science, Marijampole College (Marijampole, Lithuania)
E-mail: danguole.sidlauskiene@mkolegija.lt, ORCID 0000-0002-9154-2934

Abstract. Entities pursuing their objectives focus on the smooth and efficient
operations and processes, and optimum use of funds. For this purpose, an internal control
system is being implemented in enterprises and organizations, one of the components among
these systems is internal audit. The main objective of the internal auditor is to provide an
independent and impartial assessment of the entity's performance and provide insights on how
to improve its operations. Although internal audit is only part of the internal control system of
the entity, it has to assess the proper functioning of the system itself, propose measures to
make internal control more efficient. The state of internal control largely depends on the work
of the internal auditor. Scientific problem. The scientific literature emphasizes the need to
create an appropriate system of internal control of the entity, but for many supervisors and
internal auditors internal audit and internal control still associate with the role of the inspector.
A well-functioning internal control system reduces the work involved in the audit and risks
that allow the internal auditor to devote more time to developing the entity's development
prospects. Particular attention in the process of operational efficiency must be given to
employees performing the functions entrusted to them, including them in the process of
internal control improvement. Not only managers but also all employees need to deepen
knowledge of the importance of internal audit and the necessity of reaching the goals set by
the entity, not only managers but also all employees. The aim of the article: to analyze
peculiarities of theoretical internal audit and control. In order to achieve the tasks: to analyze
the concept of internal audit and control, and its variation; to research internal audit
objectives. The object of the research: internal audit and control in a company. The
methodology of the research: the systemic analysis of scientific literature and legislation.
Key words: internal audit, internal control system, activity, entity, adding value.