Internal Audit Of The Budgeting System

The master’s thesis presents a study devoted to the development of information and methodical support for internal audit of the budgeting system. In the theoretical part of the work the basics of the budgeting system were studied, the goals and objectives of internal audit were defined, as well as the methods and tools used for conducting audit procedures. The master’s conducts analysis of the object of audit and its system of internal control, due to which the risk-forming factors that have a significant influence on the budgeting system were identified. On the basis of qualitative and quantitative assessment of the identified risks, a strategy and plan of internal audit of the budgeting system were formed. In the practical part of the study the procedures of internal audit of the budgeting system of the company were tested, following the results of which a report was formed containing an opinion on the correctness of the formation of budget indicators planned within the budgeting system, as well as the compliance of the current budgeting system with the organizational structure, strategy and goals of the company. The study resulted in the creation of information and methodical provision of internal audit of the budgeting system and the development of recommendations to improve this system.