The concept of risk-based audit

This article is devoted to the concept of risk-based audit. The concept and essence of risk-based audit as part of the internal control system are considered. The importance of risk management in the framework of corporate governance is determined. The process of implementing risk-based audit in the organization is described. A comparison of traditional and risk-based audit is presented. The advantage of using risk-based audit in modern conditions of uncertainty and threats to the organization is indicated.