The Main Aspects of Internal Audit as a Part of the Audit System

The aim of this article is generalization of scientific positions on the definition of internal auditing, the selection criteria for its delimitation with external audit, as well as study the role of internal audit in modern conditions of managing. The current stage of development of economic relations in Ukraine is characterized by the integration to European and world markets, the increasing number of domestic and foreign investors who need the most objective, unbiased information about financial and property status of economic entities, financial stability, development prospects and so forth. Transformations are occurring in the economy of Ukraine determine changes in the management system of the enterprises' activities. They consist in the transfer of the lever of decision making and responsibility for the consequences of such decisions on the primary management unit ? enterprise. Internal audit is an important part of the system for effective management of large and medium-sized enterprises. His role in the relationship of the entity and the owners of the enterprise is constantly growing. Thus, lighting of modern transformation trends of internal audit does not lose its relevance.