The Efficiency Audit of Import Operations

Key words: purchase, cost price, evaluation, performance audit, import transactions. The purpose of this thesis is to develop informational and methodical support of performance audit of import transactions. The objectives of the research are the following:  to examine import transactions, submit a classification and a participants list,  to determine aims and objectives of performance audit,  to consider the methods, tools and criteria of performance audit of import transactions,  to analyze the alternative options of implementing import transactions,  to examine the information base of performance audit of import transactions,  to analyze import transactions of the audited entity,  to conduct risk assessment of import transactions and evaluate internal control system of the audited entity,  to develop a plan and a programme of performance audit of import transactions,  to test the performance audit procedures,  to provide the audited entity with recommendations on improving the import performance based on scenario analysis. The object of the research is companies engaged in foreign economic activities. The subject of this study is import transactions arising from companies carrying out foreign economic activities. In the first chapter, I examined methods, criteria and tools of performance audit of import transactions. In the second chapter, I examined the information base of performance audit of import transactions; analyzed the application of the regulatory framework to the researched subject and import activities of PJSC A.Y. Jurgens In the third chapter, I conducted risk assessment of operational activities and elements of the internal control system. Moreover, I developed a plan and a programme of performance audit of import transactions and tested the audit procedures aimed at improving the performance audit of import transactions. In the final chapter of this thesis, I draw conclusions based on results of the research.