The planning an audit engagement is the most important component that determines the effectiveness of internal audit services, both from the standpoint of improving the efficiency of the company and users of the results of the internal audit work. The use of statistical tools during the planning phase of the audit engagement can be considered as a component of a risk-based approach to internal audit. This research applies such statistical instruments as the normal distribution, the Kolmogorov–Smirnov test and regression analysis. The methodological support improvement of the internal audit process is one of the ways to perfect a guarantees quality and advice provided by the internal audit unit, as well as to minimize labor costs at the stage of planning an audit and determining the scope of the audit. There had being used such general methods of scientific knowledge as observation and comparison of data, analysis and synthesis, scientific abstraction during the research course. The proposed risk-based methodology for defining the scope and objectives of internal audit engagements using statistical tools was developed in conformity with the International Framework for the Professional Practice of Internal Auditing (Supplementary Guide “Planning an Audit Engagement: Defining Objectives and Scope”). The scope of analytical procedures formed in the process of planning the audit engagement allowed to cover the areas of the process that are most at risk of deviations. The practical significance of the study is considered by the possibility of applying the proposed methodology to define the audit assignment scope and its purpose, select the most effective analytical procedures, and minimize the labor costs of the working group. The developed methodology can be used for the work process organization in internal audit departments of business entities; some of its provisions can be applied in order to conduct a self-assessment of the effectiveness of the internal audit function. The use of statistical data analysis tools and publicly available information processing tools can improve the effectiveness of the internal audit function by the way of focusing on the most risky areas of the audited process. The developed methodological support is based on a risk-oriented approach.

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