Improving the System for Documenting Internal Audit Activities and Developing Recommendations Based on Audit Results

This article examines the issues of improving the system of document internal audit activities and developing effective proposals and recommendations based on audit results. Within the framework of the study, the level of transparency, evidence-based ness and analytical approach of internal audit reports was assessed, and problems encountered in practice were identified. In particular, the priority of the descriptive approach in audit reports, the variety of report formats and the low real effectiveness of recommendations were indicated as the main shortcomings. The study analyzes improved approaches using the example of internal audit activities conducted in the territorial divisions of the Pension Fund, and proposes the “Proposal-Execution-Result (PIR)” model for standardizing audit reports, document evidence and assessing the effectiveness of recommendations. The results of the study allow turning the activities of internal audit services into an effective analytical tool for making management decisions.