Internal audit of costs on innovations: organizational and methodical approach

Authors: 
Hyk V.V.

The importance and role of internal audit of costs on innovations as a separate type of
accompanying audit services has been clarified. Organizational aspects of internal audit of
costs on innovations have been revealed, and methodical approach of using analytical
procedure has been indicated.
The process of dividing the internal audit of costs on innovations into three stages: initial
(planning of audit of costs on innovations), investigation stage (analysis of information needed
to evaluate credibility of costs on innovation accountability and its verification) and final stage
(compilation of audit report) has been offered.
It has been ascertained that the initial stage of the internal audit of costs on innovations
should consist of four phases, mainly preliminary planning of audit of costs on innovations;
risk evaluation; preparation and compilation of a general plan of audit of costs on innovations;
preparation and compilation of audit program of costs on innovations.
It also has been determined thata significant role in the conduction of audit of costs on
innovations is played by the problem of calculating their economic effectiveness aimed at
choosing and giving grounds to the most economically reasonable costs for enterprises, i. e.
optimal variants for development.