Internal Control and Internal Auditing Definitions

Internal control has become particularly relevant in the management activities of any enterprise in a competitive environment in order to ensure the efficient operation of the enterprise. The internal control system is aimed at productive and efficient operation of the enterprise. Along with internal control, the concept of “internal auditing” is found in practice as well as in various sources. In some sources these concepts may be identical, in some - it is possible to see their similarities and differences. In the scientific works, there is a lack of consensus on understanding the content of internal control and internal auditing. The article attempts to define the definitions of these concepts, highlights their distinctive features from other management techniques and from each other. The terms analysis, the classification of principles of internal control organization and internal auditing are given in the article and it allows to systematize the system as a whole and to determine the significant difference between the concepts of “internal control” and “internal auditing.”