The Efficiency Audit of Receipting and Using of Intangible Assets

There is currently the growing interest of metallurgical enterprises in using of intellectual property since in knowledge based economies the intangibles are becoming fundamental tools of increasing company’s profitability and competitiveness. However, despite a wide using of intangible assets as the factor providing competitive advantages there are controversial issues concerning methodology for the intangibles analysis and the efficiency audit. In conformity with the situation in the field of intangible assets, in the framework of this study the immediate aim is: to develop methodological recommendations for the efficiency audit of receipting and using of intangibles and to give recommendations for increasing efficiency of such operations. As object of research I have chosen the profitability, efficiency and productivity of financial activity of the metallurgical enterprise. At the beginning of the research I have formulated the goals and purposes of the efficiency audit of receipting and using of intangibles, explored the nature of intangibles. Along with these issues I have described the techniques for intangibles analysis existing in the literature and identified their imperfections. The investigation contains the brief economic characteristics of the company, patterns of economic situations related to intangible assets, assessment of internal control system and also suggestions for improvement of firm’s intangibles using. Moreover, I have made an attempt to analyze the current practice for intangibles analysis in the company and pinpoint the possible ways to increase the effectiveness of their management. The scientific novelty and professional significance of the conducted research consists in the solution of important theoretical and methodical problems of intellectual property management.