RISK MANAGEMENT IN THE EXTERNAL STATE AUDIT: GLOBAL EXPERIENCE

Abstract

In this article, the author examines the specifics of the activities of the supreme audit institutions of foreign countries in the field of risk management in the system of external state audit. In the context of globalization and the aggravation of the geo-economic and geopolitical situation in the world, there is an increasing need to improve public administration systems at the level of national economic systems, primarily through more rational use of national resources by improving the quality of the external state audit system and the effectiveness of the relevant risk management system. In this regard, the author has studied the best practices in the field of risk management systems used in the activities of the supreme audit institutions of foreign countries with developed economies. Based on the results of the analysis, similar trends and distinctive features of risk management systems characteristic of certain countries have been identified. Based on the standards of the International Organization of Supreme Audit Institutions (INTOSAI), as well as the results of the analysis, the author suggests considering the possibility of adapting the best practices in the subject area in the domestic practice of external state audit, including the mechanisms they use to minimize risks in the audit process.