A Systematic Approach to The Organization of Internal Audit of Investment Activities

Abstract

General Background: Internal audit is an essential tool for ensuring transparency, accountability, and effective resource utilization in investment activities. Specific Background: In the context of increasingly complex investment environments, particularly in Uzbekistan, internal audit of investment projects requires a tailored and systematic approach to address unique challenges such as project diversity, variable duration, and multistakeholder oversight. Knowledge Gap: Existing literature lacks comprehensive models that integrate the organizational, methodological, and procedural aspects of internal audit adapted specifically to investment processes. Aims: This study aims to develop a systematized framework for organizing internal audits of investment activities, focusing on defining audit objectives, categorizing user groups, and establishing procedures aligned with project characteristics. Results: The research identifies the classification of investment audit tasks (general, local, private), highlights the necessity for differentiated procedures, and proposes a coordinated model aligning internal and external audit stages. It outlines the importance of structured documentation, user-targeted audit planning, and internal standards reflecting project-specific complexities. Novelty: The study offers a detailed framework for harmonizing internal audit practices with investment activity characteristics, including recommendations for adjusting external standards to internal audit contexts. Implications: These findings support the enhancement of audit quality, reduce functional duplication across supervisory bodies, and strengthen the regulatory and methodological foundation of investment audits, thereby improving the governance of investment processes in economic entities.