Legal Regulatory Gaps in Russian Internal Audit: Institutional Aspect

Abstract

The article defines the role of internal audit in the financial and economic activities of economic entity. The advantages of internal auditing are analyzed. The authors also described the interaction between internal audit and external independent control. Special attention is paid to the problems of the Russian internal audit, namely the formal rules (norms). As a result, the authors propose the ways to eliminate gaps in the legal regulation of the Russian internal audit.