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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Anton Ornatskij
The Efficiency Audit of Investment Projects
Master’s programme
10
2014
This work is devoted to the efficiency audit of investment projects. Nowadays the development of companies is linked to investment activity which is especially connected with the realization of investment projects. However, this process is fraught with many risks. And in order to make the processes of development and realization of investment projects more effective and avoid negative results of financial and economic activities of the organization, it is necessary to audit the efficiency of investment projects. Along with identifying, estimating and managing the risks the investment activity is connected with, the efficiency audit helps to determine compliance of the requirements of economy, efficiency and effectiveness. The efficiency audit will also help to determine the most effective ways of using resources and some alternative investment projects that will bring the greatest benefits at the lower costs in the future. Therefore, the efficiency audit of investment projects is essential for organizations engaged in investment activities and that makes the research topic relevant today. In this dissertation we have analised the most widespread methods, tools and criteria which are used in investment analysis and identified their main advantages and disadvantages. We also have reviewed the information base of the efficiency audit of investment projects, including regulatory information and internal information of organization as well as infomation of external environment in which the chosen organisation operates. The practical significance of the work is to develop techniques for risk assessment of financial and economic activities of the organization, elements of internal control system. Besides, there has been presented the possibilities of using heuristic methods in the efficiency audit of investment projects and developed the model of selection the most valuable insvestment projects which is based on using econometric method and method of hierarchy analysis. That is why this work has practical significance.

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