Problems of identifying risks and managing them during the state audit of the activities of quasi-public sector entities

Abstract

Conducting an audit of a quasi-public sector entity to identify the risks of the audited company is a risk analysis process to determine the magnitude of the impact (damage) from the implementation of the risk, the likelihood of its occurrence and the degree of controllability for further adoption of the most effective decisions on risk management measures. A common problem of the Kazakhstan economy is the unpreparedness of the leadership of most large companies, including the quasi-public sector, to perceive risk management as one of the integral elements of the production process management. The purpose of this article is to determine for the subject of the quasi-public sector a methodology for identifying risks, assessing them and managing them during the state audit. The measures identified by the audit described in the article allow timely identification of potential risks, carry out their assessment and take measures to minimize them in building and running a business.